VICI PropertiesMEX:VICI 64 Operating Margin % is 107.51% as of Mar. 2026, which is 21% above its 10-year median of 88.53. GuruFocus rates MEX:VICI with a GF Score™ of 64/100 and a GF Value™ of MXN572.78 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 750 REITs companies, VICI Properties ranks better than 98.8% on this metric.
VICI Properties Inc operating margin is expanding. Margin expansion is usually a good sign.
The historical rank and industry rank for VICI Properties's Operating Margin % or its related term are showing as below:
MEX:VICI'
s Operating Margin % Range Over the Past 10 Years
Min: 0.04 Med: 88.53 Max: 98.87
Current: 98.87
MEX:VICI's Operating Margin % is ranked better than 98.8% of 750
companies
in the REITs industry
Industry Median: 52.67
vs MEX:VICI: 98.87
VICI Properties's 5-Year Average Operating Margin % Growth Rate was 3.70% per year.
VICI Properties's Operating Income for the
three
months ended in Mar. 2026 was MXN19,746 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was MXN73,199 Mil.
VICI Properties (MEX:VICI) Operating Margin % Explanation
Just like Gross Margin %, it is important to see a company maintains its operating margin over time. Among the same industry, a company with higher operating margin is more efficient in its operation. It is also more stable during industry slowdown or recessions. Peter Lynch prefers those with higher margins than those with lower margins.
Be Aware
Operating Margin % can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).
If a company is facing competition, its Operating Margin % may decline. Often the Operating Margin % declines well before the company's Revenue or even profit decline. Therefore, Operating Margin % is a very important indicator of whether the company is facing problems.
For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokias Operating Margin % had already been in decline since 2002, although its Earnings per Share (Diluted) were still rising. Investors who paid attention to Operating Margin % would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).
Therefore, Operating Margin % is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.
VICI Properties Operating Margin % Related Terms
VICI Properties Operating Margin % Historical Data
* Premium members only.
The historical data trend for VICI Properties's Operating Margin % 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.
MEX:VICI vs WPC, BNL, GNL: Operating Margin % Comparison
For the REIT - Diversified subindustry, VICI Properties's Operating Margin %, along with its competitors' market caps and Operating Margin % 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 Operating Margin % vs REITs Industry
For the REITs industry and Real Estate sector, VICI Properties's Operating Margin % distribution charts can be found below:
* The bar in red indicates where VICI Properties's Operating Margin % falls into.
Operating Margin % - also known as operating income margin, operating profit margin and return on sales (ROS) - is the ratio of Operating Income divided by net sales or Revenue, usually presented in percent.
VICI Properties's Operating Margin % for the fiscal year that ended in Dec. 2025 is calculated as
* 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.
VICI Properties (MEX:VICI) has a Operating Margin % of 107.51% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on VICI Properties and its competitors. This is 21% above median its historical median of 88.53. Over the past decade, VICI Properties' Operating Margin % has ranged from 0.04 to 98.87. According to the industry distribution chart, VICI Properties ranks #9 out of 750 companies in the REITs industry, placing it in the top 1.2%.
Is VICI Properties' Operating Margin % too high?
VICI Properties' current Operating Margin % of 107.51% is 21% above median its 10-year median of 88.53. Over the past 10 years, this metric has ranged from a low of 0.04 to a high of 98.87. The REITs industry median Operating Margin % is 52.67. VICI Properties' value of 107.51% is 104.1% above this industry median. Based on the distribution chart, VICI Properties ranks #9 out of 750 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, VICI Properties has a GF Score™ of 64/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does VICI Properties' Operating Margin % compare to WPC and BNL?
According to the REITs industry distribution chart, VICI Properties ranks #9 out of 750 companies for Operating Margin %. This places VICI Properties in the top 1% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 52.67. VICI Properties' value of 107.51% is 104.1% above this benchmark. Historically, VICI Properties' own Operating Margin % has ranged from 0.04 to 98.87 over the past decade. While the company's 10-year median is 88.53 vs. the industry median of 52.67, VICI Properties has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Margin % for a REITs company?
The median Operating Margin % among REITs companies is 52.67, based on 750 companies in the industry. Companies in the top quartile (top 25%) have a Operating Margin % significantly above this median, while those in the bottom quartile fall well below. However, Operating Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. VICI Properties's current Operating Margin % of 107.51% is 104.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Margin % mean?
A high Operating Margin % can signal that a stock is expensive relative to its fundamentals. Operating margin is the ratio of total operating income to net sales. View historical data on VICI Properties and its competitors. For the REITs industry, the median Operating Margin % is 52.67 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. VICI Properties's current Operating Margin % is 107.51%, which is 21% above median its own 10-year median of 88.53. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is VICI Properties stock overvalued right now?
Based on GuruFocus' analysis, VICI Properties (MEX:VICI) is currently considered Modestly Undervalued. The stock's GF Value™ is MXN572.78, compared to a current price of MXN465.00 — trading 18.8% below its estimated fair value. The current Operating Margin % is 107.51%, which is 21% above median its 10-year median of 88.53 and 104.1% above the REITs industry median of 52.67. VICI Properties' overall GF Score™ is 64/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For VICI Properties (MEX:VICI), the current Operating Margin % is 107.51% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is VICI Properties (MEX:VICI) Overvalued in 2026?
Based on GuruFocus' analysis, VICI Properties stock appears to be undervalued.
The current stock price of MXN465.00 is trading 18.8% below its estimated GF Value™ of MXN572.78.
GuruFocus considers VICI Properties to be Modestly Undervalued.
Key valuation signals for MEX:VICI:
Operating Margin %: 107.51% (21% above median its 10-year median of 88.53)
GF Value™: MXN572.78 vs. price of MXN465.00 (18.8% below fair value)
Industry Position: 104.1% above the REITs median (#9 of 750)
No single metric tells the full story. See the MEX:VICI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
VICI Properties Inc is a real estate investment trust based in the United States. It engaged in the business of owning and acquiring gaming, hospitality, wellness, entertainment and leisure destinations, subject to long-term triple net leases. It own nearly 93 experiential assets across a geographically portfolio consisting of nearly 54 gaming properties and nearly 39 other experiential properties across the United States and Canada, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas.
64GF Score
Get the complete analysis for MEX:VICI
Operating Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
MEX:VICI has been successfully added to your 
