VICIVICI PROPERTIES INC.
Real Estate Investment Trusts
- Revenue
- $4.0B
- 4.1% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $26.9B
- Employees
- —
- Net debt / EBITDA
- —
- $16.6B net debt
- AI in 10-K
- 0.5
- mentions per 10K words
Takeover score 1 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo90% of net incomeCash flow under 80% of net income
- Dilutive SBCNo0% of revenueOver 10% of revenue
- Payouts exceed cash flowNo74% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo—Over 40% of assets
- Shareholder dissentNo95% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AIYes0.5 per 10K words · 20th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo51.3× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedNo$26.9B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$0 netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.5B | $2.6B | $3.6B | $3.8B | $4.0B | 4.1% |
| Net income | $1.0B | $1.1B | $2.5B | $2.7B | $2.8B | 3.6% |
| Operating cash flow | $896M | $1.9B | $2.2B | $2.4B | $2.5B | 5.4% |
| Stock-based comp | $9M | $13M | $16M | $18M | $16M | 7.5% |
| Dividends | $759M | $1.2B | $1.6B | $1.8B | $1.9B | 5.7% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
No pay-versus-performance disclosure yet.