VICI Properties (VICI Properties) Interest Coverage

: 4.64 (As of Dec. 2023)

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Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income by its Interest Expense. VICI Properties's Operating Income for the three months ended in Dec. 2023 was $952 Mil. VICI Properties's Interest Expense for the three months ended in Dec. 2023 was $-205 Mil. VICI Properties's interest coverage for the quarter that ended in Dec. 2023 was 4.64. The higher the ratio, the stronger the company's financial strength is.

The historical rank and industry rank for VICI Properties's Interest Coverage or its related term are showing as below:

VICI' s Interest Coverage Range Over the Past 10 Years
Min: 1 Med: 3.02 Max: 4.09
Current: 4.09

VICI's Interest Coverage is ranked better than
62.83% of 678 companies
in the REITs industry
Industry Median: 3 vs VICI: 4.09

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

VICI Properties Interest Coverage Historical Data

The historical data trend for VICI Properties's Interest Coverage can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Note: For Interest Coverage, "No debt" indicates no long-term debt. An indication of "No Debt" does not necessarily mean that the company has no long-term debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.

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VICI Properties Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

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3.41

2.96

3.68

3.02

4.09

VICI Properties Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Interest Coverage	Get a 7-Day Free Trial															4.49	3.55	4.41	3.75	4.64

Competitive Comparison

For the REIT - Diversified subindustry, VICI Properties's Interest Coverage, along with its competitors' market caps and Interest Coverage data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

VICI Properties Interest Coverage Distribution

For the REITs industry and Real Estate sector, VICI Properties's Interest Coverage distribution charts can be found below:

* The bar in red indicates where VICI Properties's Interest Coverage falls into.

VICI Properties Interest Coverage Calculation

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:

If Interest Expense is negative and Operating Income is positive, then

Interest Coverage

-1

Operating Income

Interest Expense

Else if Interest Expense is negative and Operating Income is negative, then

The company did not have earnings to cover the interest expense.

Else if Interest Expense is 0 and Long-Term Debt & Capital Lease Obligation is 0, then

The company had no debt ⁽¹⁾.

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

VICI Properties's Interest Coverage for the fiscal year that ended in Dec. 2023 is calculated as

Here, for the fiscal year that ended in Dec. 2023, VICI Properties's Interest Expense was $-818 Mil. Its Operating Income was $3,345 Mil. And its Long-Term Debt & Capital Lease Obligation was $17,629 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	3344.848	/	-818.056
	=	4.09

VICI Properties's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Here, for the three months ended in Dec. 2023, VICI Properties's Interest Expense was $-205 Mil. Its Operating Income was $952 Mil. And its Long-Term Debt & Capital Lease Obligation was $17,629 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	951.82	/	-205.175
	=	4.64

The higher the ratio, the stronger the company's Financial Strength is.

VICI Properties (NYSE:VICI) Interest Coverage Explanation

Ben Graham requires that a company has a minimum interest coverage of 5 with the companies he invested. If the interest coverage is less than 2, the company is burdened by debt. Any business slow or recession may drag the company into a situation where it cannot pay the interest on its debt.

Interest Coverage is an important factor when GuruFocus ranks a company's overage Financial Strength .

VICI Properties Interest Coverage Related Terms

Thank you for viewing the detailed overview of VICI Properties's Interest Coverage provided by GuruFocus.com. Please click on the following links to see related term pages.

VICI Properties (VICI Properties) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » VICI Properties Inc (NYSE:VICI) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

VICI:Mexico 1KN:Germany

Address

535 Madison Avenue, 20th Floor, New York, NY, USA, 10022

Website

https://www.viciproperties.com

VICI Properties Inc is a real estate investment trust based in the US. It acts as an owner, acquirer, and developer of real estate assets across gaming, hospitality, entertainment and leisure destinations. The company's operating segments are real property business and golf course business. The Real property business segment consists of the leased real property whereas the Golf course business segment consists of several golf courses. Its golf courses include the Cascata golf course, the Rio Secco golf course, the Grand Bear golf course and the Chariot Run golf course.

Executives

Michael D Rumbolz	director	3201 WEST COUNTY ROAD 42, SUITE 106, BURNSVILLE MN 55306
Gabriel Wasserman	officer: Chief Accounting Officer	430 PARK AVENUE, 8TH FLOOR, NEW YORK NY 10022
Samantha Sacks Gallagher	officer: See Remarks	C/O VICI PROPERTIES INC., 535 MADISON AVE 20TH FL, NEW YORK NY 10022
Payne John W R	director, officer: President and COO	535 MADISON AVENUE, 20TH FLOOR, NEW YORK NY 10022
James R Abrahamson	director	C/O MARCUS CORP, 100 EAST WISCONSIN AVE, SUITE 1900, MILWAUKEE WI 53202-4125
Edward Baltazar Pitoniak	director, officer: Chief Executive Officer	C/O VICI PROPERTIES INC., 535 MADISON AVENUE 20TH FL, NEW YORK NY 10022
David Andrew Kieske	officer: Chief Financial Officer	C/O VICI PROPERTIES INC., 535 MADISON AVENUE 20TH FL, NEW YORK NY 10022
Monica Howard Douglas	director	535 MADISON AVENUE, 20TH FLOOR, NEW YORK NY 10022
Diana F Cantor	director	9201 FOREST HILL AVENUE, RICHMOND VA 23235
Eugene I Davis	director	8540 GANDER CREEK DRIVE, MIAMISBURG OH 45342
Kenneth J. Kuick	officer: Chief Accounting Officer	520 ZANG ST., UNIT D, BROOMFIELD CO 80021
Eric L Hausler	director	C/O TRUMP ENTERTAINMENT RESORTS, 1000 BOARDWALK, ATLANTIC CITY NJ 08401
Elizabeth I Holland	director	909 ROSE AVENUE - SUITE 200, NORTH BETHESDA MD 20852
Craig Macnab	director	C/O JDN PEALTY CORP, 359 EAST PACES FERRY RD, ATLANTA GA 30305
Mary Elizabeth Higgins	director, officer: Chief Financial Officer	3525 E. POST ROAD #120, LAS VEGAS NV 89120