VICI Properties Inc
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Let's analyse VICI Properties Inc together

Penke I guess you are interested in VICI Properties Inc. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

I'm going to help you getting a better view of VICI Properties Inc. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

You can find me behind Let's Analyse Together in the top-right of each section.

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Quick analysis of VICI Properties Inc (30 sec.)

What can you expect buying and holding a share of VICI Properties Inc? (30 sec.)

How much money do you get?

$1.52

When do you have the money?

1 year

How often do you get paid?

89.7%

What is your share worth?

Current worth

$24.60

Expected worth in 1 year

$27.83

How sure are you?

89.7%

+ What do you gain per year?

Total Gains per Share

$4.75

Return On Investment

17.0%

For what price can you sell your share?

Current Price per Share

$27.89

Expected price per share

$23.87 - $29.97

How sure are you?

50%

1. Valuation of VICI Properties Inc (5 min.)

Live pricePrice per Share (EOD)

$27.89

Book Value per Share

$24.60

Intrinsic Value Per Share

$-40.61 - $-49.64

Total Value Per Share

$-16.01 - $-25.04

My calculation of the intrinsic value of VICI Properties Inc is based how much money is coming from the company's main activities (Free Cash Flow).

The following numbers are based on moving averages and per share and per quarter.
I use a 6% discount rate for the low estimation and 3% for the high estimation.
The current Free Cash Flow Per Share is 3Y: ($0.40) TTM: ($0.52)
The change per quarter (trend) of the Free Cash Flow Per Share is 3Y: ($-0.09) TTM: ($0.02)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$0.64	$0.65	$0.09 - $0.09
2	$-0.12	$-0.15	$-1.41 - $-1.41
3	$-2.14	$-2.33	$-2.92 - $-2.92
4	$-5.26	$-5.80	$-4.43 - $-4.43
5	$-9.36	$-10.48	$-5.94 - $-5.94
6	$-14.31	$-16.30	$-7.44 - $-7.44
7	$-20.01	$-23.20	$-8.95 - $-8.95
8	$-26.35	$-31.09	$-10.46 - $-10.46
9	$-33.25	$-39.93	$-11.97 - $-11.97
10	$-40.61	$-49.64	$-13.48 - $-13.48

2. Growth of VICI Properties Inc (5 min.)

Is VICI Properties Inc growing?

	Current year	Previous year	Grow	Grow %
How rich?	$25.6b	$20.4b	$4b	16.3%

How much money is VICI Properties Inc making?

	Current year	Previous year	Grow	Grow %
Making money	$628.3m	$279.4m	$348.9m	55.5%
Net Profit Margin	69.4%	42.9%	-	-

How much money comes from the company's main activities?

Quarterly Yearly

3. Financial Health of VICI Properties Inc (5 min.)

What can you expect buying and holding a share of VICI Properties Inc? (5 min.)

Welcome investor! VICI Properties Inc's management wants to use your money to grow the business. In return you get a share of VICI Properties Inc.

What can you expect buying and holding a share of VICI Properties Inc?

First you should know what it really means to hold a share of VICI Properties Inc. And how you can make/lose money.

Speculation

The Price per Share of VICI Properties Inc is $27.89. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

The fundamentals: the financial health trends of VICI Properties Inc.
The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in VICI Properties Inc, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is $24.60. Based on the TTM, the Book Value Change Per Share is $0.81 per quarter. Based on the YOY, the Book Value Change Per Share is $2.42 per quarter.
You may receive quarterly/yearly dividend in the form of additional shares.
You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is $0.38 per quarter.

Based on historical numbers we can estimate the returns while holding a share of VICI Properties Inc.

How much money are you going to get?

	MRQ		TTM		YOY		5Y		10Y
	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share
Usd Eps	0.72	2.6%	0.58	2.1%	0.27	1.0%	0.29	1.0%	0.22	0.8%
Usd Book Value Change Per Share	1.08	3.9%	0.81	2.9%	2.42	8.7%	0.90	3.2%	0.85	3.0%
Usd Dividend Per Share	0.40	1.5%	0.38	1.4%	0.29	1.0%	0.22	0.8%	0.18	0.6%
Usd Total Gains Per Share	1.48	5.3%	1.19	4.3%	2.71	9.7%	1.12	4.0%	1.02	3.7%
Usd Price Per Share	31.88	-	31.26	-	30.13	-	27.06	-	22.10	-
Price to Earnings Ratio	11.12	-	13.70	-	-16.56	-	9.06	-	16.05	-
Price-to-Total Gains Ratio	21.54	-	29.46	-	43.72	-	60.36	-	65.67	-
Price to Book Ratio	1.30	-	1.33	-	1.56	-	2.26	-	2.17	-
Price-to-Total Gains Ratio	21.54	-	29.46	-	43.72	-	60.36	-	65.67	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	27.89
Number of shares	35

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.38	0.22
Usd Book Value Change Per Share	0.81	0.90
Usd Total Gains Per Share	1.19	1.12
Gains per Quarter (35 shares)	41.53	39.31
Gains per Year (35 shares)	166.14	157.26

Years	Return on Investment (TTM)			Return on Investment (5Y)
	Dividend	Book Value gain	Total gains	Dividend	Book Value gain	Total gains
Broker costs	-	-	-10	-	-	-10
1	53	113	156	31	126	147
2	106	226	322	63	252	304
3	159	339	488	94	378	461
4	213	452	654	126	503	618
5	266	565	820	157	629	775
6	319	678	986	188	755	932
7	372	791	1152	220	881	1089
8	425	904	1318	251	1007	1246
9	478	1017	1484	283	1133	1403
10	531	1130	1650	314	1259	1560

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %

	Trailing 12 Months				3Y				5 Year				10 Year				ALLTIME
				%				%				%				%				%
Earnings Per Share	4.0	0.0	0.0	100.0%	11.0	1.0	0.0	91.7%	18.0	2.0	0.0	90.0%	25.0	3.0	1.0	86.2%	25.0	3.0	1.0	86.2%
Book Value Change Per Share	4.0	0.0	0.0	100.0%	11.0	1.0	0.0	91.7%	17.0	3.0	0.0	85.0%	24.0	5.0	0.0	82.8%	24.0	5.0	0.0	82.8%
Dividend per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	20.0	0.0	0.0	100.0%	26.0	0.0	3.0	89.7%	26.0	0.0	3.0	89.7%
Total Gains per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	19.0	1.0	0.0	95.0%	26.0	3.0	0.0	89.7%	26.0	3.0	0.0	89.7%

Fundamentals of VICI Properties Inc

About VICI Properties Inc

https://www.viciproperties.com
28
535 Madison Avenue, New York, NY, United States, 10022-2203
Google Maps Bing Maps

VICI Properties Inc. is an S&P 500 experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities on the Las Vegas Strip. VICI Properties owns 93 experiential assets across a geographically diverse portfolio consisting of 54 gaming properties and 39 other experiential properties across the United States and Canada. The portfolio is comprised of approximately 127 million square feet and features approximately 60,300 hotel rooms and over 500 restaurants, bars, nightclubs and sportsbooks. Its properties are occupied by industry-leading gaming, leisure and hospitality operators under long-term, triple-net lease agreements. VICI Properties has a growing array of real estate and financing partnerships with leading operators in other experiential sectors, including Bowlero, Cabot, Canyon Ranch, Chelsea Piers, Great Wolf Resorts, Homefield, and Kalahari Resorts. VICI Properties also owns four championship golf courses and 33 acres of undeveloped and underdeveloped land adjacent to the Las Vegas Strip. VICI Properties' goal is to create the highest quality and most productive experiential real estate portfolio through a strategy of partnering with the highest quality experiential place makers and operators.

Fundamental data was last updated by Penke on 2024-04-05 05:00:07.

Financial Health

Profitability Details

	Compared to previous year	Compared to industry
The company is making a huge profit.
Using its assets, the company is less efficient in making profit.
Using its investors money, the company is inefficient in making profit.

Operating Efficiency Details

	Compared to previous year	Compared to industry
The company is operating very efficient.
The company is very efficient in keeping operating costs low.

Liquidity Details

	Compared to previous year	Compared to industry
The company is very able to pay all its short-term debts.
The company is very able to pay all its short-term debts with the most liquid assets.

Solvency Details

	Compared to previous year	Compared to industry
The company is very able to pay all its debts by selling its assets.
The company is very able to pay all its debts with equity.

Valuation

Valuation Details

	Compared to previous year	Compared to industry
Based on the equity, the company is underpriced.
Based on the earnings, the company is underpriced.
Based on how much money comes from the company's main activities, the company is underpriced.

1.1. Profitability of VICI Properties Inc.

1.1. Profitability

1.1.1. Net Profit Margin

Measures how much net profit VICI Properties Inc earns for each $1 of revenue.

Above 10% is considered healthy but always compare VICI Properties Inc to the REIT - Diversified industry mean.
A Net Profit Margin of 80.2% means that $0.80 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of VICI Properties Inc:

The MRQ is 80.2%. The company is making a huge profit. +2
The TTM is 69.4%. The company is making a huge profit. +2

Trends

Current period		Compared to		+/-
MRQ	80.2%	TTM	69.4%	+10.8%
TTM	69.4%	YOY	42.9%	+26.6%
TTM	69.4%	5Y	61.9%	+7.6%
5Y	61.9%	10Y	51.5%	+10.4%

Measures how much net profit VICI Properties Inc earns for each $1 of revenue.

Revenue is the amount of profit VICI Properties Inc generates before taxes and all other costs. For example, when you buy a cup of coffee it will cost you $3. The company does not earn $3 in profit but also has to pay various costs and taxes to create that cup of coffee. Let's assume the cost of creating a cup of coffee is $1.5.

The $3 you pay for a cup of coffee is called revenue.
The $1.5 that’s left over when all costs to create that cup of coffee (including taxes) are deduced from the revenue is called net profit.

The net profit margin looks at how much net profit VICI Properties Inc earns for each $1 in revenue.

How to use net profit margin

Higher profit margin is better (more profit).
Above 10% is considered healthy but always compare VICI Properties Inc to the REIT - Diversified industry mean.
Can be used to compare companies within the REIT - Diversified industry.

You typically want a high profit margin. This means that for each $1 in sales, VICI Properties Inc makes more profit. This shows the investor how efficiently VICI Properties Inc is operating in general and compared to other companies in the same industry. VICI Properties Inc operates in the REIT - Diversified industry.

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of VICI Properties Inc. If profit margins remain low (compared to the REIT - Diversified industry mean) and there are no improvements to make in production costs or other areas that might be a warning sign. If profit margins are high that means the company has low overhead costs and is efficiently using its resources to generate profit.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Net Profit Margin of VICI Properties Inc is 0.80. This means that VICI Properties Inc earned $0.80 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Net Profit Margin of the REIT - Diversified industry is .
What is the trend?
The trend is important because it shows you how VICI Properties Inc is performing over time. The most recent quarter might be important if VICI Properties Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for VICI Properties Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare VICI Properties Inc with other companies in the same industry (REIT - Diversified).
Net profit margin should rise over the years.
Can be influenced when VICI Properties Inc sells assets (profit will increase while costs remain the same).
It won’t show what part of VICI Properties Inc is doing great or needs improvement (it only looks at total revenue and total net income).

How to calculate net profit margin

Net profit margin = net income / total revenue * 100%

Real example of VICI Properties Inc

You need the following data to determine net profit margin:

Income statement from the period you want to calculate (for example, MRQ or TTM).

Net income MRQ VICI Properties Inc = 747,769
Total revenue MRQ VICI Properties Inc = 931,865
$747,769 / $931,865 = 0.80 or 80.2%

Higher is better

The higher the net profit margin, the more efficient the company is generating income. This helps investors to determine how the company is managing money. The net profit margin is an important indicator when diving into the financial health of a company. Overall, you want to see the net profit margin rising over the years. That means the company improved their production and made it more efficient (if possible).

You can use the net profit margin to compare companies within the same industry. If there are two companies where one is much bigger but the smaller one has a higher net profit margin, that means the smaller company is more efficiently using operational costs.

Important: Profit margins can be very different between industries. Companies with assembly lines or transports are much more prone to see shifting in prices for fuel, ingredients and maintenance compared to companies that only provide services. You should never compare net profit margin between different industries.

1.1.2. Return on Assets

Shows how efficient VICI Properties Inc is using its assets to generate profit.

Above 5% is considered healthy but always compare VICI Properties Inc to the REIT - Diversified industry mean.
1.7% Return on Assets means that VICI Properties Inc generated $0.02 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of VICI Properties Inc:

The MRQ is 1.7%. Using its assets, the company is less efficient in making profit.
The TTM is 1.5%. Using its assets, the company is less efficient in making profit.

Trends

Current period		Compared to		+/-
MRQ	1.7%	TTM	1.5%	+0.2%
TTM	1.5%	YOY	0.9%	+0.6%
TTM	1.5%	5Y	1.2%	+0.2%
5Y	1.2%	10Y	1.0%	+0.2%

Shows how efficient VICI Properties Inc is using its assets to generate profit.

For a farm, a tractor is considered an asset. The tractor helps ploughing the land making it possible to plant and harvest crops. But the tractor might be old and needing maintenance all the time reducing its efficiency. Return on assets indicates how effectively the farm is using the tractor (and other assets that help the core business) to plough the land.

How to use return on assets

Higher is better.
Above 5% is considered healthy but always compare VICI Properties Inc to the REIT - Diversified industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on assets in their analysis

Shows the investor how effectively VICI Properties Inc is using its resources to generate profit. If the return on assets (1.7%) from VICI Properties Inc are higher than the REIT - Diversified mean () that means VICI Properties Inc is using its resources better than their competitors. If not, that means their competitors are more efficient in using their resources to generate profit.

An investor should always look at:

What is the current return on assets?
The current most recent quarter (MRQ) Return on Assets of VICI Properties Inc is 1.7%. This means the company generated $0.02 for each $1 in assets.
How does it compare to the industry?
The mean MRQ Return on Assets of the REIT - Diversified industry is .
What is the trend?
The trend is important because it shows you how VICI Properties Inc is performing over time. The most recent quarter might be important if VICI Properties Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for VICI Properties Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
If a company has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

How to calculate return on assets

Return on assets = net income / total assets * 100%

Real example VICI Properties Inc

You need the following data to determine return on assets (ROA):

Income statement
Balance sheet

Net income MRQ (income statement) from VICI Properties Inc = 747,769
Total assets MRQ (balance sheet) from VICI Properties Inc = 44,059,841
747,769 / 44,059,841 = 0.02 or 1.7%

ROA is an important ratio as it will tell you how effectively VICI Properties Inc is using its resources to generate profits. Example:

Bob and Kristin both sell ice cream in the summer. They both have an ice cream truck. The truck Bob owes cost him $20.000 and the truck Kristin owes cost her $1500. Over the summer, Bob earned $2000 and Kristin earned $200. To calculate the return on assets:

Bob: $2000 / $20.000 * 100% = 10%
Kristin: $200 / $1500 * 100% = 13.3%

This tells you Bob’s company is more valuable but Kristin's company is more efficient. Be aware that total assets can change over time. A transportation business will buy and sell trucks or planes all the time. Before using return on assets as a guideline, you have to know what the exact assets are. For a company that has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

1.1.3. Return on Equity

Shows how efficient VICI Properties Inc is using its investors money to generate profit.

Above 15%-20% is considered healthy but always compare VICI Properties Inc to the REIT - Diversified industry mean.
3.0% Return on Equity means VICI Properties Inc generated $0.03 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of VICI Properties Inc:

The MRQ is 3.0%. Using its investors money, the company is inefficient in making profit. -1
The TTM is 2.6%. Using its investors money, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	3.0%	TTM	2.6%	+0.4%
TTM	2.6%	YOY	1.4%	+1.2%
TTM	2.6%	5Y	2.1%	+0.5%
5Y	2.1%	10Y	1.8%	+0.3%

Shows how efficient VICI Properties Inc is using its investors money to generate profit.

A publicly traded company (any company that issues shares to the public) is owned by its shareholders. Return on equity calculates the amount of profit for every $1 the shareholders invested.

How to use return on equity

Higher is better.
Above 15%-20% is considered healthy but always compare VICI Properties Inc to the REIT - Diversified industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on equity in their analysis

To find out the owners/management's attitude toward their company. You typically want the owners/management to invest in the company and focus on generating profit. If not enough profit is generated (compared to the REIT - Diversified industry mean), the company might not be investing their money efficiently.

The three steps every investor should look at:

What is the current return on equity?
The current most recent quarter (MRQ) Return on Equity of VICI Properties Inc is 3.0%. This means VICI Properties Inc generated $0.03 for each $1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the REIT - Diversified industry is .
What is the trend?
The trend is important because it shows you how VICI Properties Inc is performing over time. The most recent quarter might be important if VICI Properties Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for VICI Properties Inc up to 10 years back (depending if VICI Properties Inc existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Does not include intangible assets (non physical assets like licences, computer software, etc.).
Stockholders equity and shareholders equity refer to the same thing.
Liabilities should not be more than three times return on equity.

How to calculate return on equity

Return on equity = net profit / shareholders equity * 100%

Real example of VICI Properties Inc

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) VICI Properties Inc = 747,769
Shareholders equity (balance sheet) MRQ VICI Properties Inc = 25,255,931
747,769 / 25,255,931 = 0.03 or 3.0%

A negative shareholder equity is a warning sign. It means the company has more liabilities than assets. It might also mean that the owners did not invest enough money or they are taking money out of the business.

1.2. Operating Efficiency of VICI Properties Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient VICI Properties Inc is operating .

Measures how much profit VICI Properties Inc makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
Above 15% is considered healthy but always compare VICI Properties Inc to the REIT - Diversified industry mean.
An Operating Margin of 103.0% means the company generated $1.03 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of VICI Properties Inc:

The MRQ is 103.0%. The company is operating very efficient. +2
The TTM is 93.3%. The company is operating very efficient. +2

Trends

Current period		Compared to		+/-
MRQ	103.0%	TTM	93.3%	+9.7%
TTM	93.3%	YOY	64.7%	+28.6%
TTM	93.3%	5Y	90.0%	+3.3%
5Y	90.0%	10Y	76.9%	+13.1%

Measures how efficient VICI Properties Inc is operating .

The more effecient a company creates products or provides services, the more profit it generates.

How to use operating margin

Higher is better
Above 15% is considered healthy but always compare VICI Properties Inc to the REIT - Diversified industry mean.
Can be very different between industries
Can be used to compare companies

Why do investors use operating margin in their analysis

To determine how much profit VICI Properties Inc is making from it’s core business.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Operating Margin of VICI Properties Inc is 103.0%. This means that VICI Properties Inc earned $1.03 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the REIT - Diversified industry is .
What is the trend?
The trend is important because it shows you how VICI Properties Inc is performing over time. The most recent quarter might be important if VICI Properties Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for VICI Properties Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Can be calculated in different ways

How to calculate operating margin

Operating margin = operating earnings / total revenue

Real example of VICI Properties Inc

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ VICI Properties Inc = 959,757
Total revenue MRQ VICI Properties Inc = 931,865
$959,757 / $931,865 = 1.03 or 103.0%

Operating margin is used to calculate how much profit a company makes after variable costs of production but before paying interest and taxes. Some variable costs examples are wages, raw materials, packaging, and transaction fees. The amount of variable costs is different for each company and industry. In general, a higher operating margin is better as this implicates that a company is running efficiently.

For investors, a higher operating margin is a good sign. Although you should always look at operating margin in the long term. If operating margin is fluctuating over the years this might be a sign that things are not running efficiently enough. It’s a way to check how much profit a company is making from its core business.

Operation earnings can be calculated in multiple ways:

Operation earnings = EBIT - non operating income + non operating expense
Operation earnings = Gross profit - operating expense - depreciation and amortisation
Operation earnings = Total revenue - COGS (costs of goods sold) - indirect costs

1.2.2. Operating Ratio

Measures how efficient VICI Properties Inc is keeping operating costs low.

Below 1 is considered healthy (always compare to REIT - Diversified industry mean).
An Operation Ratio of -0.02 means that the operating costs are $-0.02 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of VICI Properties Inc:

The MRQ is -0.021.
The TTM is 0.075. The company is very efficient in keeping operating costs low. +2

Trends

Current period		Compared to		+/-
MRQ	-0.021	TTM	0.075	-0.097
TTM	0.075	YOY	0.376	-0.301
TTM	0.075	5Y	0.161	-0.086
5Y	0.161	10Y	0.207	-0.046

Measures how efficient VICI Properties Inc is keeping operating costs low.

If the operating ratio is below 1 that means the company is making money. The lower the operating ratio, the more efficient the company.

How to use operating ratio

Lower is better.
Below 1 is considered healthy but always compare VICI Properties Inc to the REIT - Diversified industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use operating ratio in their analysis

Shows if costs of creating products and or services is increasing or decreasing. The lower the operating ratio, the more efficient the company is creating products and services.

The three steps every investor should look at:

What is the current Operatin ratio?
The current most recent quarter (MRQ) Operating Ratio of VICI Properties Inc is -2.1%. This means that VICI Properties Inc earned $-0.02 for each $1 in net sales in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Ratio of the REIT - Diversified industry is .
What is the trend?
The trend is important because it shows you how VICI Properties Inc is performing over time. The most recent quarter might be important if VICI Properties Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for VICI Properties Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
You need COGS to calculate operating ratio which is not always shown in the income statement.
Does not consider debt.

How to calculate operating ratio

Operating ratio = Operating expenses + COGS \ Net sales

Real life example VICI Properties Inc

You need the following data to determine operating ratio:

Income statement

COGS is not always specified on the income statement. If so you can use the following calculation:

(cost of revenue + total operating expenses) \ total revenue
(8,215 +-28,170) \ 931,865 = -0.02

The operating ratio measures the efficiency of a company at keeping low costs while generating profits from sales. It compares the total operating expenses to the net amount of sales. The total operating expenses exists of:

COGS (materials, labour, rent of facility, repairs)
Operating expenses (legal fees, marketing, wages, rent, maintenance/repairs)

Operating expenses are all the costs the company makes that are not directly tied to the production of the service or product. Where COGS are costs that are directly tied to the production of a product or service.

Do note that COGS is not always available in the income statement. Some companies include COGS in the operating expenses while others list COGS separately. To make it even more confusing, COGS is also known as “costs of sales” and costs of sales is the same as costs of revenue.

The operating ratio tells you how efficient the company is creating its products or services while keeping prices low. In this case, a lower ratio is better. Higher or rising operating ratios might tell you that costs are rising while sales are not improving or staying the same.

1.3. Liquidity of VICI Properties Inc.

1.3. Liquidity

1.3.1. Current Ratio

Measures if VICI Properties Inc is able to pay off Short-term Debt.

Above 1.5 is considered healthy (always compare to REIT - Diversified industry mean).
A Current Ratio of 28.22 means the company has $28.22 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of VICI Properties Inc:

The MRQ is 28.223. The company is very able to pay all its short-term debts. +2
The TTM is 28.667. The company is very able to pay all its short-term debts. +2

Trends

Current period		Compared to		+/-
MRQ	28.223	TTM	28.667	-0.444
TTM	28.667	YOY	24.598	+4.070
TTM	28.667	5Y	17.472	+11.195
5Y	17.472	10Y	12.725	+4.747

Measures if VICI Properties Inc is able to pay off Short-term Debt.

How to use current ratio

Higher is better
Above 1.5 is considered healthy (always compare to REIT - Diversified industry mean).
Can be very different between industries
Can be used to compare companies

Why do investors use current ratio in their analysis

Shows if the company can pay of short term debts if needed. A company that can't pay off it's short term debts might get in trouble if they have to pay off their short term debts for whatever reason. For example, markets can change due to global events like covid-19 or the war in Ukraine versus Russia. Because debts are always taken based on future income, it might become troublesome for VICI Properties Inc if something happens in the market that will cause sales to plummet.

The three steps every investor should look at:

What is the current current Ratio?
The current most recent quarter (MRQ) Current Ratio of VICI Properties Inc is 28.22. This means VICI Properties Inc has $28.22 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the REIT - Diversified industry is .
What is the trend?
The trend is important because it shows you how VICI Properties Inc is performing over time. The most recent quarter might be important if VICI Properties Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for VICI Properties Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Might be deluded.
Not all assets can always be quickly sold.
Can be manipulated by increasing or decreasing the assets and/or liabilities.

How to calculate current ratio

Current ratio = current assets \ current liabilities

Real life example VICI Properties Inc

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
18,763,651 \ 664,840) = 28.22

The current ratio measures if VICI Properties Inc is able to pay short-term debts (obligations). Short term in this context means all debt obligations that are about to expire within one year. The current ratio incorporates current liabilities and current assets. Current assets are all the assets a company has that are expected to be consumed or sold within standard business operations. You can find the current assets in the balance sheet. They consist of:

Inventory
Accounts receivable
Marketable securities
Prepaid expenses
Cash
Cash equivalents
liquid assets

The current liabilities are short term obligations that are due within one year. These consist of:

Short term debts
Dividends
Income taxes
Short-term debts
Accounts payable
Interest payments

The result shows an investor if VICI Properties Inc is able to pay all its short-term debts if they were due all at once. When the result of the above formula is below 1, then VICI Properties Inc does not have enough capital after selling all its assets to pay all short-term debts. If the ratio drops far below 1 that might indicate VICI Properties Inc is or will be in financial trouble anytime soon.

Although this gives an investor some clues, the current ratio may also be deluded. Because owning assets does not mean the company can easily sell them. Also, Accounts receivable may be quite old (they will probably never pay) which deludes the current ratio. As with all ratios, you should only compare them between the same industries and companies.

1.3.2. Quick Ratio

Measures if VICI Properties Inc is able to pay off Short-term Debt but only using the most liquid assets.

Above 1 is considered healthy but always compare VICI Properties Inc to the REIT - Diversified industry mean.
A Quick Ratio of 28.22 means the company can pay off $28.22 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of VICI Properties Inc:

The MRQ is 28.216. The company is very able to pay all its short-term debts with the most liquid assets. +2
The TTM is 28.662. The company is very able to pay all its short-term debts with the most liquid assets. +2

Trends

Current period		Compared to		+/-
MRQ	28.216	TTM	28.662	-0.447
TTM	28.662	YOY	37.395	-8.733
TTM	28.662	5Y	22.512	+6.151
5Y	22.512	10Y	22.039	+0.472

Measures if VICI Properties Inc is able to pay off Short-term Debt but only using the most liquid assets.

How to use quick ratio

Higher is better.
Above 1 is considered healthy but always compare VICI Properties Inc to the REIT - Diversified industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use quick ratio in their analysis

Shows how fast VICI Properties Inc can pay off its short term debts. This shows if VICI Properties Inc can survive emergencies due to market changes or other reasons.

The three steps every investor should look at:

What is the current Quick Ratio?
The current most recent quarter (MRQ) quickRatio of VICI Properties Inc is 28.22. This means that VICI Properties Inc can pay off $28.22 for each $1 in debt (using most liquid assets).
How does it compare to the industry?
The mean MRQ Quick Ratio of the REIT - Diversified industry is .
What is the trend?
The trend is important because it shows you how VICI Properties Inc is performing over time. The most recent quarter might be important if VICI Properties Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for VICI Properties Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Incorporates only most liquid assets.

How to calculate quick ratio

Quick ratio = cash and equivalents + marketable securities + accounts receivable / current liabilities

Real life example VICI Properties Inc

You need the following data to determine operating ratio:

Balance sheet
Quick ratio = cash and short-term investments + short-term investments + netReceivables / total current liabilities
MRQ quick ratio VICI Properties Inc: (522,574 + 0 +18,236,349) / 664,840 = 28.22

The quick ratio measures the same thing as the current ratio, only it uses the most liquid assets a company has. Meaning, the assets that can be sold for cash the easiest and fastest.

As the quick ratio only incorporates the most liquid assets, you should also check the current ratio which also includes less liquid assets. But they may be harder to sell.

1.4. Solvency of VICI Properties Inc.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of VICI Properties Inc assets are financed with debt.

Below 1 (100%) is considered healthy but always compare VICI Properties Inc to REIT - Diversified industry mean.
A Debt to Asset Ratio of 0.42 means that VICI Properties Inc assets are financed with 41.8% credit (debt) and the remaining percentage (100% - 41.8%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of VICI Properties Inc:

The MRQ is 0.418. The company is very able to pay all its debts by selling its assets. +2
The TTM is 0.427. The company is very able to pay all its debts by selling its assets. +2

Trends

Current period		Compared to		+/-
MRQ	0.418	TTM	0.427	-0.010
TTM	0.427	YOY	0.378	+0.050
TTM	0.427	5Y	0.401	+0.027
5Y	0.401	10Y	0.360	+0.040

Measures how much % of VICI Properties Inc assets are financed with debt.

When there are more debts than assets, that means creditors have a larger stake VICI Properties Inc than its shareholders.

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare VICI Properties Inc to REIT - Diversified industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to asset ratio in their analysis

It shows how much debt the company used to finance its assets. If a company is almost entirely financed with debt that means the company might get into serious trouble when emergencies arise like a raise in interest.

The three steps every investor should look at:

What is the current debt to asset ratio?
The current most recent quarter (MRQ) Debt to Asset Ratio of VICI Properties Inc is 0.42. This means means that VICI Properties Inc is financed with 41.8% credit and the remaining percentage is financed by it's owners (shareholders).
How does it compare to the industry?
The mean MRQ Current Ratio of the REIT - Diversified industry is .
What is the trend?
The trend is important because it shows you how VICI Properties Inc is performing over time. The most recent quarter might be important if VICI Properties Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for VICI Properties Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Some companies can have higher debt to assets ratio's (for example, banks).
Debt to asset ratio should improve over the years.
If the debt to asset ratio is above 1, look at the industry mean and find out why VICI Properties Inc has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example VICI Properties Inc

You need the following data to determine debt to asset ratio:

Balance sheet
Debt to asset ratio = total debt \ total assets
18,402,067 \ 44,059,841 = 41.8% or 0.42.

The debt to total assets ratio shows if the company is owned by creditors or shareholders. Or in other words, the total debt in relation to the total amount of assets. It shows how much debt the company used to finance its assets.

1.4.2. Debt to Equity Ratio

Measures if VICI Properties Inc is able to pay off its debts by using shareholders equity.

Below 2 is considered healthy but always compare VICI Properties Inc to the REIT - Diversified industry mean.
A Debt to Equity ratio of 72.9% means that company has $0.73 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of VICI Properties Inc:

The MRQ is 0.729. The company is very able to pay all its debts with equity. +2
The TTM is 0.758. The company is very able to pay all its debts with equity. +2

Trends

Current period		Compared to		+/-
MRQ	0.729	TTM	0.758	-0.029
TTM	0.758	YOY	0.626	+0.132
TTM	0.758	5Y	0.688	+0.070
5Y	0.688	10Y	0.619	+0.069

Measures if VICI Properties Inc is able to pay off its debts by using shareholders equity.

How to use debt to equity ratio

Lower is better.
Below 2 is considered healthy (always use industry average).
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to shareholders equity ratio in their analysis

It shows how much debt the company uses to finance their operations. Shareholders equity is whats left over when you subtract total liabilities from total assets. It's another way to meassure how much of VICI Properties Inc is financed with debt or own resources.

The three steps every investor should look at:

What is the current debt to equity ratio?
The current most recent quarter (MRQ) quickRatio of VICI Properties Inc is 0.73. This means that VICI Properties Inc can pay off $0.73 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the REIT - Diversified industry is .
What is the trend?
The trend is important because it shows you how VICI Properties Inc is performing over time. The most recent quarter might be important if VICI Properties Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for VICI Properties Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Not all debt is equally risky (for example, short term risk is less risky).

How to calculate debt to equity ratio

Debt to equity ratio = total debt \ shareholders equity.

Real life example VICI Properties Inc

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
18,402,067 \ 25,255,931 = 0.73 or 72.9%

Debt to equity measures the total debt versus the total shareholders equity. While the total debts to total assets ratio uses total assets, the debt to equity ratio looks at the total equity of shareholders. Where equity of shareholders are:

Common shares.
Preferred shares.
Retained earnings.

You can find the shareholders' equity in the balance sheet. A ratio between 0,5 and 1,5 is preferred. If the ratio is above 1.5, that would indicate creditors have significantly more stake (debt) in the company than the shareholders. In other words, the company is using a lot of debt to finance their operations.

Not all debt is equally risky. Meaning you can adjust the ratio by including or excluding certain amounts of debt. Short term debts are less risky because they have to be paid back within one year anyway. It’s much easier to plan one year ahead versus five or ten years.

2. Market Valuation of VICI Properties Inc

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every $1 in earnings VICI Properties Inc generates.

Above 15 is considered overpriced but always compare VICI Properties Inc to the REIT - Diversified industry mean.
A PE ratio of 11.12 means the investor is paying $11.12 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of VICI Properties Inc:

The EOD is 9.727. Based on the earnings, the company is underpriced. +1
The MRQ is 11.118. Based on the earnings, the company is underpriced. +1
The TTM is 13.696. Based on the earnings, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	9.727	MRQ	11.118	-1.392
MRQ	11.118	TTM	13.696	-2.578
TTM	13.696	YOY	-16.560	+30.256
TTM	13.696	5Y	9.056	+4.640
5Y	9.056	10Y	16.052	-6.996

Measures how much money you pay for each share for every $1 in earnings VICI Properties Inc generates.

Indicates if the company’s shares are under or overvalued.

How to use PE ratio

Above 15 is considered overpriced but is hard to determine. Always compare VICI Properties Inc to the REIT - Diversified industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use PE ratio in their analysis

The PE ratio tells investors the current sentiment in the market for that company. As with every stock, the stock price never shows the real valuation of a company but rather how the market thinks how much the stock is worth.

In other words, the current stock price also incorporates any future earnings or business opportunities in the future. The best example is the stock market crash in 2000. The PE ratio for any internet based company was going through the roof. Only based on the general assumption the internet and all associated businesses would thrive in the future. But this was based on nothing. A business still needs a good product or service to be able to survive. Instead, every investor bought any stock which did something related to the internet. Result: huge market crash.

Many investors were willing to pay premium prices and that was causing the PE ratio to rise. A high PE ratio is a warning sign that investors might be overvaluing a stock based on future earnings.

The three steps every investor should look at:

What is the current PE Ratio?
The current most recent quarter (MRQ) PE Ratio of VICI Properties Inc is 11.12. This means the investor is paying $11.12 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the REIT - Diversified industry is .
What is the trend?
The trend is important because it shows you how VICI Properties Inc is performing over time. The most recent quarter might be important if VICI Properties Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for VICI Properties Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Some industries might have very high or very low PE ratios in general.
PE ratios can be high for several years, it does not mean a sudden collapse is imminent.
Earnings growth is not included in the PE ratio.

How to calculate PE ratio

PE ratio = market value per share \ earnings per share

Real life example VICI Properties Inc

You need the following data to determine the PE ratio:

Balance sheet
Income statement

The PE ratio is a very commonly used ratio to determine the value of a company by comparing the current stock price relative to its earnings per share (EPS). Before we can calculate the PE ratio we need to know the EPS. EPS is calculated as follows:

EPS = (net profit - preferred dividends) \ end of period outstanding shares*
Net profit = revenue - expenses
0 \ 1,037,834 = EPS
PE ratio MRQ = 11.12

* The net profit minus preferred dividends can be found in the incomestatement as netIncomeApplicableToCommonShares.

The PE value helps investors to determine if the current stock price is under or overvalued. It also projects future growth.

In general, a higher PE ratio means that investors predict higher future growth. If the PE ratio is too high, then investors expect way too much future growth the company can never fulfil. This is most likely to happen in faster moving companies like tech companies or automobile companies like Tesla. These are hot and booming markets where investors expect much future growth driven by new technology (electric cars). When looking at the current MRQ (most recent quarter) PE ratio of Tesla ( jan. 2021) it's about 247 while the average in the industry is only 6. That might be a clue that Tesla is trading for way too high prices compared to their current assets and is more based on future growth.

2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of VICI Properties Inc:

The EOD is 12.663. Based on how much money comes from the company's main activities, the company is cheap. +2
The MRQ is 14.475. Based on how much money comes from the company's main activities, the company is cheap. +2
The TTM is 15.006. Based on how much money comes from the company's main activities, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	12.663	MRQ	14.475	-1.812
MRQ	14.475	TTM	15.006	-0.531
TTM	15.006	YOY	17.406	-2.400
TTM	15.006	5Y	24.186	-9.179
5Y	24.186	10Y	24.294	-0.108

2. Book Value per Share

2.3. Price to Book Ratio

Measures if the stock price of VICI Properties Inc is to cheap or to expensive compared to its book value.

At or below 1 is considered healthy (always compare to REIT - Diversified industry mean).
A PB ratio of 1.30 means the investor is paying $1.30 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of VICI Properties Inc:

The EOD is 1.134. Based on the equity, the company is underpriced. +1
The MRQ is 1.296. Based on the equity, the company is underpriced. +1
The TTM is 1.333. Based on the equity, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	1.134	MRQ	1.296	-0.162
MRQ	1.296	TTM	1.333	-0.037
TTM	1.333	YOY	1.563	-0.230
TTM	1.333	5Y	2.265	-0.932
5Y	2.265	10Y	2.170	+0.095

2. Total Gains per Share

3. Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of VICI Properties Inc.

3.1. Institutions holding VICI Properties Inc

Institutions are holding 99.062% of the shares of VICI Properties Inc.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	Vanguard Group Inc	14.0906	0.1023	146919295	1052009	0.7212
2023-12-31	BlackRock Inc	9.8038	0.0831	102221825	3584284	3.6338
2023-12-31	Capital Research & Mgmt Co - Division 3	6.0298	0.4494	62871097	9317582	17.3986
2023-12-31	State Street Corporation	5.2234	0.0855	54463278	2793510	5.4065
2023-12-31	Cohen & Steers Inc	3.3361	2.2438	34784906	19788229	131.9508
2023-12-31	Capital Research Global Investors	3.3114	0.2708	34526829	-2607391	-7.0215
2023-12-31	Bank of America Corp	2.9644	0.0993	30908919	-4646256	-13.0677
2023-12-31	Principal Financial Group Inc	2.4826	0.5262	25885444	33965	0.1314
2023-12-31	Geode Capital Management, LLC	2.4089	0.0836	25117457	1171652	4.8929
2023-12-31	Allianz Asset Management AG	2.2375	1.215	23329637	-271537	-1.1505
2023-12-31	Wellington Management Company LLP	2.0911	0.1296	21803909	-3546799	-13.9909
2023-12-31	JPMorgan Chase & Co	2.0092	0.0642	20949534	3415597	19.4799
2023-12-31	Amvescap Plc.	1.7926	0.1418	18690784	-4995838	-21.0914
2023-12-31	NORGES BANK	1.3851	0.0805	14442632	4197121	40.9655
2023-12-31	Dimensional Fund Advisors, Inc.	1.3709	0.1331	14294012	84662	0.5958
2023-12-31	Legal & General Group PLC	1.3685	0.1167	14269466	1678557	13.3315
2023-12-31	Barrow Hanley Mewhinney & Strauss LLC	1.2636	1.4777	13175055	-777670	-5.5736
2023-12-31	Nuveen Asset Management, LLC	1.2202	0.1309	12722567	2499346	24.4477
2023-12-31	Goldman Sachs Group Inc	1.0264	0.0306	10702488	3663363	52.0429
2023-12-31	Charles Schwab Investment Management Inc	1.0174	0.0859	10608645	461873	4.5519
Total		66.4335	7.55	692687779	+36896259	+5.3%

3.2. Funds holding VICI Properties Inc

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	American Funds Capital Income Bldr A	4.4024	1.4133	45902981	1076805	2.4022
2024-02-29	Vanguard Real Estate Index Investor	3.7228	1.8188	38816686	921663	2.4321
2024-02-29	Vanguard Total Stock Mkt Idx Inv	2.8394	0.0572	29605546	-63897	-0.2154
2024-02-29	Vanguard Institutional 500 Index Trust	2.2992	0.0671	23973610	260676	1.0993
2024-02-29	Vanguard Mid Cap Index Institutional	2.0205	0.3938	21067383	-61535	-0.2912
2023-12-31	American Funds Income Fund of Amer A	1.817	0.5039	18945662	-15532377	-45.0501
2023-12-31	American Funds Fundamental Invs A	1.2519	0.3328	13052996	1774408	15.7325
2023-12-31	Capital Group Fundamental Invtrs Comp	1.2519	0.3328	13052996	1774408	15.7325
2024-01-31	Fidelity 500 Index	1.178	0.0764	12282762	125718	1.0341
2024-02-29	SPDR® S&P 500 ETF Trust	1.1638	0.0723	12135199	76136	0.6314
2023-12-31	PIMCO Income Instl	1.1149	0.268	11625222	0	0
2024-02-29	iShares Core S&P 500 ETF	1.0322	0.0722	10763032	32701	0.3048
2023-12-31	Vanguard Wellington™ Inv	1.0061	0.3114	10490749	444802	4.4277
2023-12-31	American Funds American Balanced A	0.8617	0.1355	8984675	2864562	46.8057
2023-12-31	Capital Group Investment Co of Amer Comp	0.8422	0.2215	8781959	1681707	23.6852
2023-12-31	American Funds Invmt Co of Amer A	0.8422	0.2215	8781959	1681707	23.6852
2024-02-29	Vanguard Value Index Inv	0.8293	0.1595	8646957	29731	0.345
2024-02-29	Principal Real Estate Securities R5	0.7985	4.2279	8325882	0	0
2024-02-29	Vanguard Mid-Cap Value ETF	0.7326	0.8156	7639080	-218338	-2.7787
2024-02-29	Vanguard Institutional Index I	0.6538	0.0721	6816950	-28334	-0.4139
Total		30.6604	11.5736	319692286	-3159457	-1.0%

3.3. Insider Transactions

Insiders are holding 0.249% of the shares of VICI Properties Inc.

Date	Owner	Type	Amount	Price	Post Transaction Amount	Link
2024-03-14	James R Abrahamson	BUY	3000	28.85

4. Summary

4.1. Key Performance Indicators

The key performance indicators of VICI Properties Inc compared to the Most Recent Quarter (MRQ).

	End of day	+/-	Most Recent Quarter	Trailing 12 Months	+/-	Year-Over-Year	+/-	5 Year	+/-	10 Year	+/-
Book Value Change Per Share	-	-	1.076	0.807	+33%	2.421	-56%	0.899	+20%	0.848	+27%
Book Value Per Share	-	-	24.597	23.475	+5%	19.640	+25%	13.922	+77%	10.608	+132%
Current Ratio	-	-	28.223	28.667	-2%	24.598	+15%	17.472	+62%	12.725	+122%
Debt To Asset Ratio	-	-	0.418	0.427	-2%	0.378	+11%	0.401	+4%	0.360	+16%
Debt To Equity Ratio	-	-	0.729	0.758	-4%	0.626	+16%	0.688	+6%	0.619	+18%
Dividend Per Share	-	-	0.405	0.380	+7%	0.292	+38%	0.224	+80%	0.176	+130%
Eps	-	-	0.717	0.579	+24%	0.268	+168%	0.287	+150%	0.217	+231%
Free Cash Flow Per Share	-	-	0.551	0.522	+6%	0.465	+18%	0.315	+75%	0.238	+131%
Free Cash Flow To Equity Per Share	-	-	0.924	0.769	+20%	2.102	-56%	0.862	+7%	0.688	+34%
Gross Profit Margin	-	-	1.000	1.000	0%	1.000	0%	1.000	0%	0.862	+16%
Intrinsic Value_10Y_max	-	-	-49.637	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	-40.611	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	0.651	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	0.642	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	-2.331	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	-2.139	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	-10.482	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	-9.360	-	-	-	-	-	-	-	-
Market Cap	29093173707.520	-14%	33255302179.840	32605947549.760	+2%	31424591536.000	+6%	28223716544.192	+18%	23056630623.735	+44%
Net Profit Margin	-	-	0.802	0.694	+16%	0.429	+87%	0.619	+30%	0.515	+56%
Operating Margin	-	-	1.030	0.933	+10%	0.647	+59%	0.900	+14%	0.769	+34%
Operating Ratio	-	-	-0.021	0.075	-128%	0.376	-106%	0.161	-113%	0.207	-110%
Pb Ratio	1.134	-14%	1.296	1.333	-3%	1.563	-17%	2.265	-43%	2.170	-40%
Pe Ratio	9.727	-14%	11.118	13.696	-19%	-16.560	+249%	9.056	+23%	16.052	-31%
Price Per Share	27.890	-14%	31.880	31.258	+2%	30.125	+6%	27.057	+18%	22.103	+44%
Price To Free Cash Flow Ratio	12.663	-14%	14.475	15.006	-4%	17.406	-17%	24.186	-40%	24.294	-40%
Price To Total Gains Ratio	18.841	-14%	21.536	29.463	-27%	43.723	-51%	60.357	-64%	65.667	-67%
Quick Ratio	-	-	28.216	28.662	-2%	37.395	-25%	22.512	+25%	22.039	+28%
Return On Assets	-	-	0.017	0.015	+16%	0.009	+97%	0.012	+36%	0.010	+63%
Return On Equity	-	-	0.030	0.026	+14%	0.014	+112%	0.021	+40%	0.018	+67%
Total Gains Per Share	-	-	1.480	1.187	+25%	2.713	-45%	1.123	+32%	1.024	+45%
Usd Book Value	-	-	25657774000.000	24488141500.000	+5%	20487770750.000	+25%	14522873250.000	+77%	11065402689.655	+132%
Usd Book Value Change Per Share	-	-	1.076	0.807	+33%	2.421	-56%	0.899	+20%	0.848	+27%
Usd Book Value Per Share	-	-	24.597	23.475	+5%	19.640	+25%	13.922	+77%	10.608	+132%
Usd Dividend Per Share	-	-	0.405	0.380	+7%	0.292	+38%	0.224	+80%	0.176	+130%
Usd Eps	-	-	0.717	0.579	+24%	0.268	+168%	0.287	+150%	0.217	+231%
Usd Free Cash Flow	-	-	574351000.000	544243500.000	+6%	485380000.000	+18%	328770700.000	+75%	248650689.655	+131%
Usd Free Cash Flow Per Share	-	-	0.551	0.522	+6%	0.465	+18%	0.315	+75%	0.238	+131%
Usd Free Cash Flow To Equity Per Share	-	-	0.924	0.769	+20%	2.102	-56%	0.862	+7%	0.688	+34%
Usd Market Cap	29093173707.520	-14%	33255302179.840	32605947549.760	+2%	31424591536.000	+6%	28223716544.192	+18%	23056630623.735	+44%
Usd Price Per Share	27.890	-14%	31.880	31.258	+2%	30.125	+6%	27.057	+18%	22.103	+44%
Usd Profit	-	-	747769000.000	628385000.000	+19%	279408750.000	+168%	304133200.000	+146%	229273965.517	+226%
Usd Revenue	-	-	931865000.000	902997000.000	+3%	650174250.000	+43%	492131250.000	+89%	377606068.966	+147%
Usd Total Gains Per Share	-	-	1.480	1.187	+25%	2.713	-45%	1.123	+32%	1.024	+45%
	EOD	+4 -4	MRQ	TTM	+31 -4	YOY	+23 -12	5Y	+30 -5	10Y	+32 -4

4.2. Fundamental Score

Let's check the fundamental score of VICI Properties Inc based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	9.727
Price to Book Ratio (EOD)	Between	0-1	1.134
Net Profit Margin (MRQ)	Greater than	0	0.802
Operating Margin (MRQ)	Greater than	0	1.030
Quick Ratio (MRQ)	Greater than	1	28.216
Current Ratio (MRQ)	Greater than	1	28.223
Debt to Asset Ratio (MRQ)	Less than	1	0.418
Debt to Equity Ratio (MRQ)	Less than	1	0.729
Return on Equity (MRQ)	Greater than	0.15	0.030
Return on Assets (MRQ)	Greater than	0.05	0.017
Total			7/10 (70.0%)

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4.3. Technical Score

Let's check the technical score of VICI Properties Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	41.453
Ma 20	Greater than	Ma 50	28.718
Ma 50	Greater than	Ma 100	28.880
Ma 100	Greater than	Ma 200	29.590
Open	Greater than	Close	27.600
Total			1/5 (20.0%)

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Reversals in quarterly reports

I have detected a reversal (positive to negative, negative to positive) in the following values of the quarterly reports.

	2022-12-31		2023-03-31		2023-06-30		2023-09-30		2023-12-31
Other Current Liabilities	380,178	-87,538	292,640	104,840	397,480	29,381	426,861	-877,559	-450,698
Tax Provision	1,032	55	1,087	812	1,899	-1,255	644	-10,415	-9,771
Income Tax Expense	1,032	55	1,087	812	1,899	-1,255	644	-10,415	-9,771

Latest Balance Sheet

Balance Sheet of 2023-12-31. Currency in USD. All numbers in thousands.

Summary

Total Assets	44,059,841
Total Liabilities	18,402,067
Total Stockholder Equity	25,255,931

	As reported
Total Liabilities	18,402,067
Total Stockholder Equity	+ 25,255,931
Total Assets	= 44,059,841

Assets

Total Assets	44,059,841
Total Current Assets	18,763,651
Long-term Assets	25,296,190

Total Current Assets

Total Current Assets (as reported)	18,763,651
Cash And Cash Equivalents	522,574
Net Receivables	18,236,349
Inventory	552,549
Other Current Assets	-547,821
Total Current Assets (calculated)	18,763,651
+/-	0

Long-term Assets

Long-term Assets (as reported)	25,296,190
Property Plant Equipment	952,621
Long-term Assets Other	24,334,146
Long-term Assets (calculated)	25,286,767
+/-	9,423

Liabilities & Shareholders' Equity

Total Current Liabilities	664,840
Long-term Liabilities	17,737,227
Total Stockholder Equity	25,255,931

Total Current Liabilities

Total Current Liabilities (as reported)	664,840
Short-term Debt	1,115,538
Other Current Liabilities	-450,698
Total Current Liabilities (calculated)	664,840
+/-	0

Long-term Liabilities

Long-term Liabilities (as reported)	17,737,227
Long term Debt	16,724,125
Capital Lease Obligations	904,397
Long-term Liabilities Other	250
Long-term Liabilities (calculated)	17,628,772
+/-	108,455

Total Stockholder Equity

Total Stockholder Equity (as reported)	25,255,931
Common Stock	10,427
Retained Earnings	965,762
Accumulated Other Comprehensive Income	153,870
Other Stockholders Equity	24,125,872
Total Stockholder Equity (calculated)	25,255,931
+/-	0

Other

Capital Stock	10,427
Cash and Short Term Investments	522,574
Common Stock Shares Outstanding	1,037,834
Liabilities and Stockholders Equity	44,059,841
Net Debt	17,105,948
Net Invested Capital	41,980,056
Net Working Capital	18,098,811
Property Plant and Equipment Gross	974,295
Short Long Term Debt Total	17,628,522

Balance Sheet

Currency in USD. All numbers in thousands.

Trend

2023-12-31

2023-09-30

2023-06-30

2023-03-31

2022-12-31

2022-09-30

2022-06-30

2022-03-31

2021-12-31

2021-09-30

2021-06-30

2021-03-31

2020-12-31

2020-09-30

2020-06-30

2020-03-31

2019-12-31

2019-09-30

2019-06-30

2019-03-31

2018-12-31

2018-09-30

2018-06-30

2018-03-31

2017-12-31

2017-09-30

2017-06-30

2017-03-31

2016-12-31

2016-09-30

> Total Assets

0
90,475
89,065
88,355
89,250
9,739,712
10,486,239
10,564,703
10,568,501
11,333,368
11,448,671
12,522,046
12,581,466
13,265,619
14,907,213
16,277,634
16,851,830
17,063,613
17,085,001
17,219,548
17,548,804
17,597,373
21,741,321
37,289,217
37,307,982
37,575,826
41,852,813
42,250,610
42,832,149
44,059,841

44,059,841

42,832,149

42,250,610

41,852,813

37,575,826

37,307,982

37,289,217

21,741,321

17,597,373

17,548,804

17,219,548

17,085,001

17,063,613

16,851,830

16,277,634

14,907,213

13,265,619

12,581,466

12,522,046

11,448,671

11,333,368

10,568,501

10,564,703

10,486,239

9,739,712

89,250

88,355

89,065

90,475

> Total Current Assets

0
1,644
972
925
903
183,646
932,023
994,454
465,957
1,119,324
986,528
1,333,690
809,805
1,161,367
3,276,258
4,604,152
3,297,971
3,491,249
3,477,425
3,571,196
3,844,008
3,882,440
3,746,234
17,671,523
17,770,525
17,852,838
18,185,384
17,910,970
17,879,801
18,763,651

18,763,651

17,879,801

17,910,970

18,185,384

17,852,838

17,770,525

17,671,523

3,746,234

3,882,440

3,844,008

3,571,196

3,477,425

3,491,249

3,297,971

4,604,152

3,276,258

1,161,367

809,805

1,333,690

986,528

1,119,324

465,957

994,454

932,023

183,646

903

925

972

1,644

Cash And Cash Equivalents

0
920
78
175
84
183,646
918,215
940,740
145,223
577,883
598,276
1,205,335
431,423
1,101,893
369,052
1,680,536
144,057
315,993
322,530
407,522
669,514
739,614
568,702
614,001
518,383
208,933
247,673
738,793
510,884
522,574

522,574

510,884

738,793

247,673

208,933

518,383

614,001

568,702

739,614

669,514

407,522

322,530

315,993

144,057

1,680,536

369,052

1,101,893

431,423

1,205,335

598,276

577,883

145,223

940,740

918,215

183,646

175

920

Short-term Investments

0
0
0
0
0
83,091
83,091
39,906
320,676
520,877
356,878
97,586
342,767
59,474
0
0
19,973
19,973
0
19,973
13,124,209
8,780,521
17,113,699
17,075,857
207,722
217,342
0
1,310
0
0

1,310

217,342

207,722

17,075,857

17,113,699

8,780,521

13,124,209

19,973

59,474

342,767

97,586

356,878

520,877

320,676

39,906

83,091

Net Receivables

0
77
174
52
206
8,284,006
8,281,557
8,294,753
8,815,557
269
3,559
1,149
2,510
1,626
903,433
922,476
3,133,941
3,155,283
3,152,213
3,159,317
3,171,304
3,142,826
3,174,072
17,050,857
17,038,517
17,426,563
17,937,711
17,167,005
17,365,232
18,236,349

18,236,349

17,365,232

17,167,005

17,937,711

17,426,563

17,038,517

17,050,857

3,174,072

3,142,826

3,171,304

3,159,317

3,152,213

3,155,283

3,133,941

922,476

903,433

1,626

2,510

1,149

3,559

269

8,815,557

8,294,753

8,281,557

8,284,006

206

174

Other Current Assets

0
276
280
348
85
-83,571
13,808
13,808
58
20,564
27,815
29,620
33,105
3,252
2,003,773
2,001,140
1,217
2,710
2,682
4,357
3,190
3,660
3,460
6,665
5,903
7,348
-268,180
-761,270
-538,451
-547,821

-547,821

-538,451

-761,270

-268,180

7,348

5,903

6,665

3,460

3,660

3,190

4,357

2,682

2,710

1,217

2,001,140

2,003,773

3,252

33,105

29,620

27,815

20,564

13,808

-83,571

348

280

276

> Long-term Assets

0
88,831
0
0
88,347
9,556,066
9,554,216
9,570,249
10,102,544
10,214,044
10,462,143
11,188,356
11,771,661
12,104,252
11,630,955
11,673,482
13,553,859
13,572,364
13,607,576
13,648,352
13,704,796
13,714,933
17,995,087
19,617,694
19,537,457
19,722,988
23,667,429
24,339,640
24,952,348
25,296,190

25,296,190

24,952,348

24,339,640

23,667,429

19,722,988

19,537,457

19,617,694

17,995,087

13,714,933

13,704,796

13,648,352

13,607,576

13,572,364

13,553,859

11,673,482

11,630,955

12,104,252

11,771,661

11,188,356

10,462,143

10,214,044

10,102,544

9,570,249

9,554,216

9,556,066

88,347

88,831

Property Plant Equipment

0
88,831
88,093
87,430
88,347
74,300
73,739
73,029
72,287
71,513
82,879
82,120
90,726
11,820,903
97,307
96,718
364,683
364,193
364,391
363,769
359,684
359,296
564,880
886,804
875,979
876,726
878,196
876,842
893,338
952,621

952,621

893,338

876,842

878,196

876,726

875,979

886,804

564,880

359,296

359,684

363,769

364,391

364,193

364,683

96,718

97,307

11,820,903

90,726

82,120

82,879

71,513

72,287

73,029

73,739

74,300

88,347

87,430

88,093

88,831

Long Term Investments

0
0
0
0
0
0
8,281,557
39,906
320,676
520,877
356,878
97,586
342,767
59,474
0
0
0
0
0
0
0
0
0
1,464,766
1,463,230
1,460,775
0
627,259
973,217
0

973,217

627,259

1,460,775

1,463,230

1,464,766

59,474

342,767

97,586

356,878

520,877

320,676

39,906

8,281,557

Other Assets

0
0
0
0
0
9,468,006
14,920
18,467
43,220
44,037
27,815
36,837
43,666
26,817
21,551
22,739
14,431
12,694
31,004
16,747,620
1,114,682
1,642,529
1,408,287
3,112,837
3,336,398
3,453,798
0
41,511,817
42,321,265
0

42,321,265

41,511,817

3,453,798

3,336,398

3,112,837

1,408,287

1,642,529

1,114,682

16,747,620

31,004

12,694

14,431

22,739

21,551

26,817

43,666

36,837

27,815

44,037

43,220

18,467

14,920

9,468,006

> Total Liabilities

0
6,332
6,593
6,379
6,255
5,048,223
4,351,339
4,391,760
4,361,228
4,432,346
4,402,783
4,449,623
4,507,397
5,216,630
7,183,182
7,203,223
7,482,291
7,569,868
7,485,309
7,484,479
5,420,018
5,410,199
6,257,535
15,174,330
15,245,685
15,285,713
18,178,278
18,166,035
18,296,467
18,402,067

18,402,067

18,296,467

18,166,035

18,178,278

15,285,713

15,245,685

15,174,330

6,257,535

5,410,199

5,420,018

7,484,479

7,485,309

7,569,868

7,482,291

7,203,223

7,183,182

5,216,630

4,507,397

4,449,623

4,402,783

4,432,346

4,361,228

4,391,760

4,351,339

5,048,223

6,255

6,379

6,593

6,332

> Total Current Liabilities

0
1,024
1,297
1,082
963
78,679
154,758
2,258,816
2,231,081
174,076
149,948
164,167
203,340
227,549
205,281
221,059
224,397
317,073
255,098
256,739
345,333
339,839
968,338
520,260
583,062
593,566
617,495
608,014
649,291
664,840

664,840

649,291

608,014

617,495

593,566

583,062

520,260

968,338

339,839

345,333

256,739

255,098

317,073

224,397

221,059

205,281

227,549

203,340

164,167

149,948

174,076

2,231,081

2,258,816

154,758

78,679

963

1,082

1,297

1,024

Short-term Debt

0
14
0
0
158
4,785,756
2,070,783
2,071,661
2,072,673
-32,008
0
0
0
-21,663
0
0
-6,781
-7,252
6,769,211
4,168,959
4,692,032
337,460
600,000
0
14,281
58,769
103,572
30,206
14,700
1,115,538

1,115,538

14,700

30,206

103,572

58,769

14,281

600,000

337,460

4,692,032

4,168,959

6,769,211

-7,252

-6,781

-21,663

-32,008

2,072,673

2,071,661

2,070,783

4,785,756

158

Short Long Term Debt

0
0
0
0
0
4,785,756
4,119,263
4,124,781
0
22,124
0
0
0
0
0
0
0
0
0
0
0
0
600,000
0
0
0
103,572
0
0
0

103,572

600,000

22,124

4,124,781

4,119,263

4,785,756

Accounts payable

0
305
531
303
194
10,562
9,221
1,317
24
1,057
1,227
451
1,307
640
442
841
324
734
249
390
514
57,543
-99,062
520,260
-14,281
-58,769
617,495
-30,206
-14,700
0

-14,700

-30,206

617,495

-58,769

-14,281

520,260

-99,062

57,543

514

390

249

734

324

841

442

640

1,307

451

1,227

1,057

1,317

9,221

10,562

194

303

531

305

Other Current Liabilities

0
468
283
143
435
26,950
-1,986,175
113,877
157,683
161,422
148,366
163,711
201,783
178,232
204,363
219,860
230,545
229,932
254,356
255,997
344,358
226,309
368,338
346,526
380,174
380,178
292,640
397,480
426,861
-450,698

-450,698

426,861

397,480

292,640

380,178

380,174

346,526

368,338

226,309

344,358

255,997

254,356

229,932

230,545

219,860

204,363

178,232

201,783

163,711

148,366

161,422

157,683

113,877

-1,986,175

26,950

435

143

283

468

> Long-term Liabilities

0
5,308
0
0
5,292
3,718
4,196,581
2,132,944
2,130,147
4,258,270
4,252,835
4,285,456
4,304,057
4,989,081
6,977,901
6,982,164
7,257,894
7,252,795
7,230,211
7,227,740
5,074,685
5,070,360
5,289,197
14,654,070
14,662,623
14,692,147
17,560,783
17,558,021
17,647,176
17,737,227

17,737,227

17,647,176

17,558,021

17,560,783

14,692,147

14,662,623

14,654,070

5,289,197

5,070,360

5,074,685

7,227,740

7,230,211

7,252,795

7,257,894

6,982,164

6,977,901

4,989,081

4,304,057

4,285,456

4,252,835

4,258,270

2,130,147

2,132,944

4,196,581

3,718

5,292

5,308

Long term Debt Total

0
0
0
0
0
4,785,756
4,119,263
4,120,141
4,121,153
4,122,264
4,123,350
4,124,448
4,125,473
4,791,563
6,754,485
6,758,132
6,761,832
6,765,532
6,769,211
6,772,903
4,692,032
4,694,523
5,297,014
13,721,500
13,730,503
13,739,675
16,606,240
16,624,197
0
0

16,624,197

16,606,240

13,739,675

13,730,503

13,721,500

5,297,014

4,694,523

4,692,032

6,772,903

6,769,211

6,765,532

6,761,832

6,758,132

6,754,485

4,791,563

4,125,473

4,124,448

4,123,350

4,122,264

4,121,153

4,120,141

4,119,263

4,785,756

Other Liabilities

0
0
5,296
5,297
5,292
141,717
138,247
149,279
78,305
120,545
77,247
76,616
77,365
147,322
77,472
77,300
77,373
170,792
77,924
79,403
456,608
375,837
86,742
932,570
932,120
123,174
0
0
108,218
0

108,218

123,174

932,120

932,570

86,742

375,837

456,608

79,403

77,924

170,792

77,373

77,300

77,472

147,322

77,365

76,616

77,247

120,545

78,305

149,279

138,247

141,717

5,292

5,297

5,296

Deferred Long Term Liability

0
0
0
0
0
141,717
138,247
77,318
77,604
76,940
10,018
23,609
37,085
25,709
19,795
19,697
73,600
73,600
28,163
25,793
64,558
49,618
51,323
36,229
31,912
31,480
0
0
23,638
0

23,638

31,480

31,912

36,229

51,323

49,618

64,558

25,793

28,163

73,600

19,697

19,795

25,709

37,085

23,609

10,018

76,940

77,604

77,318

138,247

141,717

> Total Stockholder Equity

0
84,143
82,472
81,976
82,995
4,691,489
6,051,900
6,089,609
6,123,808
6,817,449
6,962,269
7,988,737
7,990,314
7,965,183
7,642,568
8,992,748
9,291,973
9,415,839
9,521,559
9,656,640
12,050,107
12,108,268
15,404,678
21,762,494
21,709,579
21,933,637
23,311,246
23,716,716
24,164,951
25,255,931

25,255,931

24,164,951

23,716,716

23,311,246

21,933,637

21,709,579

21,762,494

15,404,678

12,108,268

12,050,107

9,656,640

9,521,559

9,415,839

9,291,973

8,992,748

7,642,568

7,965,183

7,990,314

7,988,737

6,962,269

6,817,449

6,123,808

6,089,609

6,051,900

4,691,489

82,995

81,976

82,472

84,143

Common Stock

0
0
82,420
81,924
82,943
3,003
3,701
3,701
3,702
4,047
4,110
4,610
4,610
4,610
4,686
5,337
5,367
5,367
5,370
5,370
6,289
6,289
7,484
9,631
9,631
9,631
10,042
10,074
10,168
10,427

10,427

10,168

10,074

10,042

9,631

7,484

6,289

5,370

5,367

5,337

4,686

4,610

4,110

4,047

3,702

3,701

3,003

82,943

81,924

82,420

Retained Earnings Total Equity

0
0
0
0
0
42,662
95,563
137,444
160,915
187,096
219,791
239,301
246,587
208,069
-262,470
-191,835
29,338
139,454
232,038
355,524
290,966
346,026
315,809
-88,610
-133,311
93,154
220,254
518,059
0
0

518,059

220,254

93,154

-133,311

-88,610

315,809

346,026

290,966

355,524

232,038

139,454

29,338

-191,835

-262,470

208,069

246,587

239,301

219,791

187,096

160,915

137,444

95,563

42,662

Accumulated Other Comprehensive Income

0
-27,446
0
0
-29,173
0
-1,657
-4,640
5,465
-22,124
-39,315
-70,003
-77,116
-65,078
-118,216
-117,265
-104,258
-92,521
-80,143
-70,815
0
884
109,495
197,275
191,314
185,353
170,441
173,670
186,241
153,870

153,870

186,241

173,670

170,441

185,353

191,314

197,275

109,495

884

-70,815

-80,143

-92,521

-104,258

-117,265

-118,216

-65,078

-77,116

-70,003

-39,315

-22,124

5,465

-4,640

-1,657

-29,173

-27,446

Capital Surplus

0
0
0
0
0
4,645,824
5,952,636
5,953,104
5,953,726
6,648,430
6,777,683
7,814,829
7,816,233
7,817,582
8,018,568
9,296,511
9,361,526
9,363,539
9,364,294
9,366,561
11,752,852
11,755,069
14,971,890
21,644,198
21,641,945
21,645,499
22,910,509
23,014,913
0
0

23,014,913

22,910,509

21,645,499

21,641,945

21,644,198

14,971,890

11,755,069

11,752,852

9,366,561

9,364,294

9,363,539

9,361,526

9,296,511

8,018,568

7,817,582

7,816,233

7,814,829

6,777,683

6,648,430

5,953,726

5,953,104

5,952,636

4,645,824

Treasury Stock

Other Stockholders Equity

0
111,537
0
0
112,116
4,645,824
5,954,293
5,953,104
5,953,726
6,648,430
6,777,683
7,814,829
7,816,233
7,817,582
8,018,568
9,296,511
9,361,526
9,363,539
9,364,294
9,366,561
11,752,852
11,755,069
14,971,890
21,644,198
21,641,945
21,645,499
22,910,509
23,014,913
23,316,140
24,125,872

24,125,872

23,316,140

23,014,913

22,910,509

21,645,499

21,641,945

21,644,198

14,971,890

11,755,069

11,752,852

9,366,561

9,364,294

9,363,539

9,361,526

9,296,511

8,018,568

7,817,582

7,816,233

7,814,829

6,777,683

6,648,430

5,953,726

5,953,104

5,954,293

4,645,824

112,116

111,537

Balance Sheet

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31
Accounts Payable	-1,115,538	-58,769	-26,350	734	640	1,057	5,207	305	342	0
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0
Accumulated Other Comprehensive Income	153,870	185,353	884	-92,521	-65,078	-22,124	-751	-27,446	-24,767	0
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	904,397	829,298	297,321	301,883	26,426	0	0	0	0	0
Capital Stock	10,427	9,631	6,289	5,367	4,610	4,047	0	0	0	0
Capital Surpluse	0	21,645,499	11,755,069	9,363,539	7,817,582	6,648,430	4,645,824	0	0	0
Cash	522,574	208,933	739,614	315,993	1,101,893	577,883	183,646	920	351	0
Cash And Equivalents	0	0	0	0	0	0	0	0	0	0
Cash And Short Term Investments	522,574	426,275	739,614	335,966	1,161,367	1,098,760	183,646	920	351	0
Common Stock	10,427	9,631	6,289	5,367	4,610	4,047	3,003	84,091	85,323	0
Common Stock Shares Outstanding	1,015,777	879,676	577,066	510,909	439,153	367,317	327,581	360,779	360,779	360,779
Common Stock Total Equity	0	9,631	6,289	5,367	4,610	4,047	3,003	0	0	0
Current Deferred Revenue	227,241	213,388	113,530	93,659	70,340	43,605	68,117	237	290	0
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0
Deferred Long Term Liab	0	31,480	49,618	73,600	25,709	13,252	7,500	0	0	0
Earning Assets	0	0	0	0	0	0	0	0	0	0
Good Will	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Inventory	552,549	-7,348	-884	342,899	0	95,789	73,600	371	442	0
Liabilities And Stockholders Equity	44,059,841	37,575,826	17,597,373	17,063,613	13,265,619	11,333,368	9,739,712	90,475	92,034	0
Long Term Debt	16,724,125	13,739,675	4,694,523	6,765,532	4,791,563	4,122,264	4,785,756	0	14	0
Long Term Debt Total	0	13,739,675	4,694,523	6,765,532	4,791,563	4,122,264	4,785,756	0	0	0
Long Term Investments	0	1,460,775	0	0	59,474	520,877	8,268,643	0	0	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0
Net Debt	17,105,948	13,530,742	3,954,909	6,449,539	3,689,670	3,544,381	4,602,110	-906	-286	0
Net Invested Capital	41,980,056	35,673,312	16,802,791	16,181,371	12,756,746	10,939,713	9,477,245	0	0	0
Net Receivables	18,236,349	17,426,563	3,142,826	3,155,283	1,626	8,942,519	8,268,643	77	183	0
Net Tangible Assets	0	21,933,637	12,108,268	9,415,839	7,965,183	6,817,449	4,691,489	84,143	85,375	0
Net Working Capital	18,098,811	17,285,503	3,554,414	114,943	987,373	956,845	165,249	620	-182	0
Non Current Assets Total	25,296,190	19,722,988	13,714,933	13,572,364	12,104,252	10,214,044	9,542,306	88,831	90,992	0
Non Current Liabilities Other	250	952,472	375,837	507,322	123,918	62,406	32,157	265	0	0
Non Current Liabilities Total	17,737,227	14,692,147	5,070,360	7,252,795	4,989,081	4,258,270	4,563,074	5,308	5,435	0
Non Currrent Assets Other	24,334,146	17,385,487	13,354,753	12,651,477	223,875	10,142,531	15,363	88,831	0	0
Noncontrolling Interest In Consolidated Entity	0	356,476	78,906	77,906	83,806	83,573	84,875	0	0	0
Other Assets	0	3,453,798	1,642,529	16,747,620	26,817	14,505	15,363	0	0	0
Other Current Assets	-547,821	7,348	-747,767	-342,899	-1,223,104	20,564	13,760	276	12	0
Other Current Liab	437,599	380,178	226,309	222,680	156,569	161,422	26,950	468	541	0
Other Liab	0	123,174	375,837	170,792	147,322	120,545	145,435	5,308	5,421	0
Other Stockholder Equity	24,125,872	21,645,499	11,755,069	9,363,539	7,817,582	6,648,430	4,646,575	111,537	110,090	0
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0
Property Plant And Equipment Gross	974,295	894,537	373,925	280,565	96,832	71,513	74,300	88,831	90,992	0
Property Plant And Equipment Net	952,621	876,726	359,296	364,193	11,820,903	71,513	74,300	88,831	90,992	0
Property Plant Equipment	0	153,560	153,576	158,190	1,269,513	1,253,960	1,258,300	88,831	90,992	0
Retained Earnings	965,762	93,154	346,026	139,454	208,069	187,096	42,662	52	52	0
Retained Earnings Total Equity	0	93,154	346,026	139,454	208,069	187,096	42,662	0	0	0
Short Long Term Debt	0	0	0	0	0	22,124	4,785,756	14	51	0
Short Long Term Debt Total	17,628,522	13,739,675	4,694,523	6,765,532	4,791,563	4,122,264	4,785,756	14	65	0
Short Term Debt	1,115,538	58,769	26,350	4,168,959	0	-32,008	300,000	14	51	0
Short Term Investments	0	217,342	884	19,973	59,474	520,877	13,760	0	0	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0
Total Assets	44,059,841	37,575,826	17,597,373	17,063,613	13,265,619	11,333,368	9,739,712	90,475	92,034	0
Total Current Assets	18,763,651	17,852,838	3,882,440	3,491,249	1,161,367	1,119,324	197,406	1,644	1,042	0
Total Current Liabilities	664,840	593,566	339,839	317,073	227,549	174,076	400,274	1,024	1,224	0
Total Liab	18,402,067	15,285,713	5,410,199	7,569,868	5,216,630	4,432,346	4,963,348	6,332	6,659	0
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0
Total Stockholder Equity	25,255,931	21,933,637	12,108,268	9,415,839	7,965,183	6,817,449	4,691,489	84,143	85,375	0
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Warrants	0	0	0	0	0	0	0	0	0	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30
Accounts Payable	0	-14,700	-30,206	617,495	-58,769	-14,281	520,260	-99,062	57,543	514	390	249	734	324	841	442	640	1,307	451	1,227	1,057	24	1,317	9,221	10,562	194	303	531	305	-
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Accumulated Other Comprehensive Income	153,870	186,241	173,670	170,441	185,353	191,314	197,275	109,495	884	0	-70,815	-80,143	-92,521	-104,258	-117,265	-118,216	-65,078	-77,116	-70,003	-39,315	-22,124	5,465	-4,640	-1,657	0	-29,173	0	0	-27,446	-
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Capital Lease Obligations	904,397	846,230	826,283	827,784	829,298	830,801	836,861	505,441	297,321	297,758	301,166	301,527	301,883	302,229	26,458	26,449	26,426	19,732	11,074	11,104	0	0	0	0	0	0	0	0	0	-
Capital Stock	10,427	10,168	10,074	10,042	9,631	9,631	9,631	7,484	6,289	6,289	5,370	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Capital Surpluse	0	0	23,014,913	22,910,509	21,645,499	21,641,945	21,644,198	14,971,890	11,755,069	11,752,852	9,366,561	9,364,294	9,363,539	9,361,526	9,296,511	8,018,568	7,817,582	7,816,233	7,814,829	6,777,683	6,648,430	5,953,726	5,953,104	5,952,636	4,645,824	0	0	0	0	-
Cash	522,574	510,884	738,793	247,673	208,933	518,383	614,001	568,702	739,614	669,514	407,522	322,530	315,993	144,057	1,680,536	369,052	1,101,893	431,423	1,205,335	598,276	577,883	145,223	940,740	918,215	183,646	84	175	78	920	-
Cash And Equivalents	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Cash And Short Term Investments	522,574	510,884	738,793	247,673	426,275	726,105	614,001	568,702	739,614	669,514	407,522	322,530	335,966	164,030	1,680,536	369,052	1,161,367	774,190	1,302,921	955,154	1,098,760	465,899	980,646	918,215	266,737	84	0	0	920	-
Common Stock	10,427	10,168	10,074	10,042	9,631	9,631	9,631	7,484	6,289	6,289	5,370	5,370	5,367	5,367	5,337	4,686	4,610	4,610	4,610	4,110	4,047	3,702	3,701	3,701	3,003	82,943	81,924	82,420	0	-
Common Stock Shares Outstanding	1,037,834	1,013,590	1,007,968	1,003,831	965,299	964,134	896,546	687,915	637,408	571,895	554,439	544,802	541,936	536,180	489,213	465,177	472,642	465,772	412,821	406,035	385,847	370,127	369,992	343,057	227,986	360,779	0	0	360,779	360,779
Common Stock Total Equity	0	0	10,074	10,042	9,631	9,631	9,631	7,484	6,289	6,289	5,367	5,370	5,367	5,367	5,337	4,686	4,610	4,610	4,610	4,110	4,047	3,702	3,701	3,701	3,003	0	0	0	0	-
Current Deferred Revenue	0	222,430	210,534	221,283	213,388	202,888	173,734	99,062	113,530	461	352	493	93,659	309	358	476	70,340	250	5	355	43,605	701	71,961	60,929	68,117	176	0	0	237	-
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Deferred Long Term Liab	0	23,638	0	0	31,480	31,912	36,229	51,323	49,618	64,558	25,793	28,163	73,600	73,600	19,697	19,795	25,709	37,085	23,609	10,018	76,940	77,604	77,318	138,247	141,717	0	0	0	0	-
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Good Will	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Inventory	552,549	0	-1,310	0	-7,348	0	0	0	-3,660	0	0	0	-2,710	-1,217	0	0	-4,878	0	0	0	480	0	0	480	480	528	350	440	371	-
Liabilities And Stockholders Equity	44,059,841	42,832,149	42,250,610	41,852,813	37,575,826	37,307,982	37,289,217	21,741,321	17,597,373	17,548,804	17,219,548	17,085,001	17,063,613	16,851,830	16,277,634	14,907,213	13,265,619	12,581,466	12,522,046	11,448,671	11,333,368	10,568,501	10,564,703	10,486,239	9,739,712	89,250	0	0	90,475	-
Long Term Debt	16,724,125	16,692,728	16,624,197	16,606,240	13,739,675	13,730,503	13,721,500	5,297,014	4,694,523	4,692,032	6,772,903	6,769,211	6,765,532	6,761,832	6,758,132	6,754,485	4,791,563	4,125,473	4,124,448	4,123,350	4,122,264	4,121,153	4,120,141	4,119,263	4,785,756	0	0	0	0	-
Long Term Debt Total	0	0	16,624,197	16,606,240	13,739,675	13,730,503	13,721,500	5,297,014	4,694,523	4,692,032	6,772,903	6,769,211	6,765,532	6,761,832	6,758,132	6,754,485	4,791,563	4,125,473	4,124,448	4,123,350	4,122,264	4,121,153	4,120,141	4,119,263	4,785,756	0	0	0	0	-
Long Term Investments	0	973,217	627,259	0	1,460,775	1,463,230	1,464,766	0	0	0	0	0	0	0	0	0	59,474	342,767	97,586	356,878	520,877	320,676	39,906	8,281,557	0	0	0	0	0	-
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Net Debt	17,105,948	17,028,074	16,711,687	16,358,567	13,530,742	14,042,921	13,944,360	5,233,753	3,954,909	4,320,276	6,666,547	6,748,208	6,449,539	6,617,775	5,104,054	6,411,882	3,689,670	3,713,782	2,930,187	3,536,178	3,544,381	3,975,930	3,179,401	3,201,048	-182,999	685	0	0	-906	-
Net Invested Capital	41,980,056	40,857,679	40,340,913	39,917,486	35,673,312	35,440,082	35,483,994	20,701,692	16,802,791	16,742,139	16,429,543	16,290,770	16,181,371	16,053,805	15,750,880	14,397,053	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Net Receivables	18,236,349	17,365,232	17,167,005	17,937,711	17,426,563	17,038,517	17,050,857	3,174,072	3,142,826	3,171,304	3,159,317	3,152,213	3,155,283	3,133,941	922,476	903,433	1,626	2,510	1,149	3,559	269	8,815,557	8,294,753	8,281,557	8,284,006	206	52	174	77	-
Net Tangible Assets	0	24,164,951	23,716,716	23,311,246	21,933,637	21,709,579	21,762,494	15,404,678	12,108,268	12,050,107	9,656,640	9,521,559	9,415,839	9,291,973	8,992,748	7,642,568	7,965,183	7,990,314	7,988,737	6,962,269	6,817,449	6,123,808	6,089,609	6,051,900	4,691,489	4,831,000	81,976	82,472	0	-
Net Working Capital	18,098,811	17,230,510	17,302,956	17,567,889	17,285,503	17,187,463	17,151,263	2,777,896	3,554,414	3,499,136	3,314,809	3,222,820	114,943	-60,250	3,520,939	2,228,928	933,818	606,465	1,169,523	836,580	945,248	-1,765,124	-1,264,362	777,265	104,967	-60	-157	-325	620	-
Non Current Assets Total	25,296,190	24,952,348	24,339,640	23,667,429	19,722,988	19,537,457	19,617,694	17,995,087	13,714,933	13,704,796	13,648,352	13,607,576	13,572,364	13,553,859	11,673,482	11,630,955	12,104,252	11,771,661	11,188,356	10,462,143	10,214,044	10,102,544	9,570,249	9,554,216	9,556,066	88,347	0	0	88,831	-
Non Current Liabilities Other	250	250	933,824	954,543	952,472	932,120	932,570	592,183	375,837	1,309	1,725	418,334	507,322	422,771	8,643	164,631	123,918	147,331	105,169	63,075	236,482	32,443	82,940	0	32,157	0	0	0	0	-
Non Current Liabilities Total	17,737,227	17,647,176	17,558,021	17,560,783	14,692,147	14,662,623	14,654,070	5,289,197	5,070,360	5,074,685	7,227,740	7,230,211	7,252,795	7,257,894	6,982,164	6,977,901	4,989,081	4,304,057	4,285,456	4,252,835	4,258,270	2,130,147	2,132,944	4,196,581	3,718	5,292	0	0	5,308	-
Non Currrent Assets Other	24,334,146	23,085,793	22,835,539	21,902,709	17,385,487	17,198,248	17,266,124	17,430,207	13,355,637	13,345,112	13,284,583	13,243,185	13,208,171	13,189,176	11,576,764	11,533,648	283,349	11,680,935	11,106,236	10,379,264	10,142,531	43,220	18,467	14,920	9,478,048	-5,043	0	0	0	-
Noncontrolling Interest In Consolidated Entity	0	0	367,859	363,289	356,476	352,718	352,393	79,108	78,906	78,679	78,429	78,133	77,906	77,566	81,663	81,463	83,806	83,755	83,686	83,619	83,573	83,465	83,334	83,000	84,875	0	0	0	0	-
Other Assets	0	42,321,265	41,511,817	0	3,453,798	3,336,398	3,112,837	1,408,287	1,642,529	1,114,682	16,747,620	31,004	12,694	14,431	22,739	21,551	26,817	43,666	36,837	27,815	44,037	43,220	18,467	14,920	9,468,006	0	0	0	0	-
Other Current Assets	-547,821	-538,451	-761,270	-268,180	7,348	5,903	6,665	3,460	3,660	3,190	4,357	2,682	2,710	1,217	2,001,140	2,003,773	3,252	33,105	29,620	27,815	20,564	58	13,808	13,808	-83,571	85	348	280	276	-
Other Current Liab	-450,698	426,861	397,480	292,640	380,178	380,174	346,526	368,338	226,309	344,358	255,997	254,356	229,932	230,545	219,860	204,363	178,232	201,783	163,711	148,366	161,422	157,683	113,877	-1,986,175	26,950	435	143	283	468	-
Other Liab	0	108,218	0	0	123,174	932,120	932,570	86,742	375,837	456,608	79,403	77,924	170,792	77,373	77,300	77,472	147,322	77,365	76,616	77,247	120,545	78,305	149,279	138,247	141,717	5,292	5,297	5,296	0	-
Other Stockholder Equity	24,125,872	23,316,140	23,014,913	22,910,509	21,645,499	21,641,945	21,644,198	14,971,890	11,755,069	11,752,852	9,366,561	9,364,294	9,363,539	9,361,526	9,296,511	8,018,568	7,817,582	7,816,233	7,814,829	6,777,683	6,648,430	5,953,726	5,953,104	5,954,293	4,645,824	112,116	0	0	111,537	-
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Property Plant And Equipment Gross	974,295	913,861	896,354	896,822	894,537	892,980	0	0	0	0	280,565	364,391	0	364,683	88,089	97,307	96,832	90,726	82,120	82,879	71,513	72,287	73,029	73,739	74,300	88,347	0	0	88,831	-
Property Plant And Equipment Net	952,621	893,338	876,842	878,196	876,726	875,979	886,804	564,880	359,296	359,684	363,769	364,391	364,193	364,683	96,718	97,307	11,820,903	90,726	82,120	82,879	71,513	72,287	73,029	73,739	74,300	88,347	0	0	88,831	-
Property Plant Equipment	0	257,170	150,727	153,560	153,560	153,560	153,576	153,576	153,576	153,576	243,605	244,939	158,190	158,190	1,269,458	1,278,676	1,278,201	1,272,095	1,263,489	1,264,248	71,513	1,243,767	1,257,029	1,257,739	74,300	4,831,000	87,430	88,093	0	-
Retained Earnings	965,762	652,402	518,059	220,254	93,154	-133,311	-88,610	315,809	346,026	290,966	355,524	232,038	139,454	29,338	-191,835	-262,470	208,069	246,587	239,301	219,791	187,096	160,915	137,444	95,563	42,662	52	52	52	52	-
Retained Earnings Total Equity	0	0	518,059	220,254	93,154	-133,311	-88,610	315,809	346,026	290,966	355,524	232,038	139,454	29,338	-191,835	-262,470	208,069	246,587	239,301	219,791	187,096	160,915	137,444	95,563	42,662	0	0	0	0	-
Short Long Term Debt	0	0	0	103,572	0	0	0	600,000	0	0	0	0	0	0	0	0	0	0	0	0	22,124	0	4,124,781	4,119,263	4,785,756	0	0	0	0	-
Short Long Term Debt Total	17,628,522	17,538,958	17,450,480	16,606,240	13,739,675	14,561,304	14,558,361	5,802,455	4,694,523	4,989,790	7,074,069	7,070,738	6,765,532	6,761,832	6,784,590	6,780,934	4,791,563	4,145,205	4,135,522	4,134,454	4,122,264	4,121,153	4,120,141	4,119,263	647	769	0	0	14	-
Short Term Debt	1,115,538	14,700	30,206	103,572	58,769	14,281	0	600,000	337,460	4,692,032	4,168,959	6,769,211	-7,252	-6,781	0	0	-21,663	0	0	0	-32,008	2,072,673	2,071,661	2,070,783	4,785,756	158	0	0	14	-
Short Term Investments	0	0	1,310	0	217,342	207,722	17,075,857	17,113,699	8,780,521	13,124,209	19,973	0	19,973	19,973	0	0	59,474	342,767	97,586	356,878	520,877	320,676	39,906	83,091	83,091	0	0	0	0	-
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Total Assets	44,059,841	42,832,149	42,250,610	41,852,813	37,575,826	37,307,982	37,289,217	21,741,321	17,597,373	17,548,804	17,219,548	17,085,001	17,063,613	16,851,830	16,277,634	14,907,213	13,265,619	12,581,466	12,522,046	11,448,671	11,333,368	10,568,501	10,564,703	10,486,239	9,739,712	89,250	88,355	89,065	90,475	-
Total Current Assets	18,763,651	17,879,801	17,910,970	18,185,384	17,852,838	17,770,525	17,671,523	3,746,234	3,882,440	3,844,008	3,571,196	3,477,425	3,491,249	3,297,971	4,604,152	3,276,258	1,161,367	809,805	1,333,690	986,528	1,119,324	465,957	994,454	932,023	183,646	903	925	972	1,644	-
Total Current Liabilities	664,840	649,291	608,014	617,495	593,566	583,062	520,260	968,338	339,839	345,333	256,739	255,098	317,073	224,397	221,059	205,281	227,549	203,340	164,167	149,948	174,076	2,231,081	2,258,816	154,758	78,679	963	1,082	1,297	1,024	-
Total Liab	18,402,067	18,296,467	18,166,035	18,178,278	15,285,713	15,245,685	15,174,330	6,257,535	5,410,199	5,420,018	7,484,479	7,485,309	7,569,868	7,482,291	7,203,223	7,183,182	5,216,630	4,507,397	4,449,623	4,402,783	4,432,346	4,361,228	4,391,760	4,351,339	5,048,223	6,255	6,379	6,593	6,332	-
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Total Stockholder Equity	25,255,931	24,164,951	23,716,716	23,311,246	21,933,637	21,709,579	21,762,494	15,404,678	12,108,268	12,050,107	9,656,640	9,521,559	9,415,839	9,291,973	8,992,748	7,642,568	7,965,183	7,990,314	7,988,737	6,962,269	6,817,449	6,123,808	6,089,609	6,051,900	4,691,489	82,995	81,976	82,472	84,143	-
Treasury Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-

Cash Flow

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31
Begin Period Cash Flow	208,933	739,614	315,993	1,101,893	598,447	197,406	920	351	221	127
Capital Expenditures	4,035	1,876	2,505	2,768	2,724	899	1,969	869	798	17
Cash And Cash Equivalents Changes	0	-530,681	423,621	-785,900	503,446	401,041	45,288	0	0	0
Cash Flows Other Operating	0	753,701	-226,820	-110,345	21,100	-47,457	0	0	0	0
Change In Cash	313,641	-530,681	423,621	-785,900	503,446	401,041	196,486	569	130	94
Change In Working Capital	-14,017	46,446	-86,821	47,981	27,408	-29,661	92,797	-188	111	253
Change Receivables	0	0	0	0	239	-45,404	0	0	0	0
Change To Account Receivables	0	0	0	0	0	0	116	116	-137	-30
Change To Inventory	0	0	0	0	0	0	71	71	-5	-54
Change To Liabilities	0	-142	476	27,727	6,308	17,796	67,954	-39	52	419
Change To Netincome	0	18,025	24,993	46,447	63,366	37,368	-7,084	-121	-108	-88
Change To Operating Activities	0	46,446	-86,821	24,662	673	-5,149	25,141	-336	201	-82
Depreciation	4,298	3,182	3,091	3,731	3,831	3,686	3,153	3,030	2,882	2,904
Dividends Paid	1,583,840	1,219,117	758,790	612,205	503,958	262,682	262,682	262,682	262,682	0
End Period Cash Flow	522,574	208,933	739,614	315,993	1,101,893	598,447	197,406	920	351	221
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	2,176,974	1,941,520	893,845	880,872	679,435	503,183	129,715	1,852	2,090	3,056
Investments	-2,359,801	-702,047	51,350	-1,901,274	461,403	-520,877	-1,138,169	-869	-520,877	0
Issuance Of Capital Stock	1,672,417	3,219,101	2,385,779	1,539,748	1,164,307	2,001,493	0	0	0	0
Net Borrowings	0	4,853,811	-2,131,126	1,904,668	530,401	-691,175	142,564	-51	-45	-226
Net Income	2,554,622	1,136,267	1,023,158	896,208	554,281	532,117	44,537	0	3	4
Other Cashflows From Financing Activities	390,491	5,436,109	-39,433	2,489,421	-64,139	-10,917	3,497,406	-1,232	-1,981	-2,742
Other Cashflows From Investing Activities	0	-4,582,240	-7,396	49,786	-1,820,058	152,406	159,000	159,000	159,000	0
Other Non Cash Items	-369,004	744,515	-48,517	-355,244	33,273	-4,054	-8,803	-10	-7	3
Sale Purchase Of Stock	-4,966	-6,156	-1,734	-207	2,250,000	2,001,493	963,782	963,782	963,782	963,782
Stock Based Compensation	15,536	12,986	9,371	7,388	5,223	2,342	111	0	0	0
Total Cash From Financing Activities	1,031,790	6,829,937	-514,178	2,879,219	1,182,666	1,037,836	1,147,284	-1,283	-2,026	-2,968
Total Cash From Operating Activities	2,181,009	1,943,396	896,350	883,640	682,159	504,082	131,684	2,721	2,888	3,073
Total Cashflows From Investing Activities	0	-9,304,014	41,449	-4,548,759	-1,361,379	-1,140,877	-1,138,169	-869	-732	-11

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31
Begin Period Cash Flow	510,884	738,793	247,673	208,933	518,383	614,001	568,702	739,614	669,514	407,522	322,530	315,993	144,057	3,680,536	2,371,084	1,101,893	463,510	1,233,552	622,642	598,447	145,281	954,548	932,023	197,406	55,771	920	0	920	836
Capital Expenditures	2,141	577	329	988	718	472	232	454	852	130	276	1,247	1,409,787	1,407,600	858	1,329	295	948	290	1,191	155	187	212	345	51	1,918	-663	0	76
Cash And Cash Equivalents Changes	0	0	491,002	38,666	-309,450	-95,618	45,299	-170,912	70,100	261,992	84,992	6,537	171,936	-3,536,479	1,309,452	1,269,191	638,383	-770,042	610,910	24,195	453,166	-809,267	22,525	734,617	0	0	0	0	0
Cash Flows Other Operating	0	0	-174,745	-13,461	-87,262	125,421	672,270	43,272	-22,149	-11,916	-65,536	-127,219	44,439	-175,652	-62,811	83,679	70,407	1,217	-4,059	-46,465	39,568	-87,190	-35	200	0	0	0	0	0
Change In Cash	11,690	-227,909	491,120	38,740	-309,450	-95,618	45,299	-170,912	70,100	261,992	84,992	6,537	171,936	-3,536,479	1,309,452	1,269,191	638,383	-770,042	610,910	24,195	453,166	-809,267	22,525	734,617	141,635	-836	97	-842	84
Change In Working Capital	6,140	4,656	-12,390	-12,423	-7	33,120	22,487	-9,154	3,180	5,778	-2,160	-93,619	91,590	-6,638	3,525	-40,496	66,431	8,028	-8,833	-38,218	34,280	-52,542	-6,862	-4,537	92,966	-680	168	-945	-316
Change Receivables	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,534	2,494	-2,277	-2,512	-6,285	-13,009	-13,196	-12,914	0	0	0	0	0
Change To Account Receivables	0	0	0	0	0	0	0	0	0	0	0	-6,000	0	0	0	0	116	0	0	0	225	0	0	-109	-141	-141	122	-109	142
Change To Inventory	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	71	0	0	0	140	0	0	-69	-157	-157	90	-69	80
Change To Liabilities	0	0	-11,964	-12,282	-50,818	31,909	25,937	-7,170	-27	109	-141	-93,166	2,146	-6,834	4,158	28,257	-3,976	6,811	-4,774	8,247	-5,288	34,648	-6,827	-4,737	67,954	-114	-227	214	0
Change To Netincome	0	-21,076	4,031	5,460	6,082	5,029	4,284	2,630	2,304	-2,055	-54,496	-27,939	2,013	2,014	2,011	40,409	59,545	1,404	1,366	1,051	512	12,957	468	23,431	-7,084	-1	-1	12	0
Change To Operating Activities	0	4,656	4,656	4,656	-7	33,120	25,490	-9,154	-90,018	5,669	-2,019	-453	-1,760	-6,589	3,643	29,368	-3,659	7,783	-8,483	5,032	-8,624	18,718	-19,235	3,992	25,141	254	-54	56	0
Depreciation	1,586	1,011	887	814	811	816	779	776	771	771	757	792	741	910	1,213	867	883	1,000	1,018	930	929	929	922	906	751	2,402	796	805	803
Dividends Paid	422,076	382,855	396,297	382,612	375,411	346,518	269,325	227,863	226,430	177,104	177,248	178,008	177,025	158,651	139,396	137,133	137,099	132,441	118,077	116,341	106,386	97,018	59,278	59,278	262,682	59,278	0	0	0
End Period Cash Flow	522,574	510,884	738,793	247,673	208,933	518,383	614,001	568,702	739,614	669,514	407,522	322,530	315,993	144,057	3,680,536	2,371,084	1,101,893	463,510	1,233,552	622,642	598,447	145,281	954,548	932,023	197,406	84	920	0	920
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	574,351	551,529	530,049	521,045	487,201	503,871	652,729	297,719	284,574	200,324	254,468	154,479	1,753,906	-1,186,576	180,193	136,117	244,665	173,309	147,010	114,451	175,410	81,667	123,968	122,138	129,389	326	1,390	909	259
Investments	-954,210	-734,123	261,359	-194,643	-408,289	-246,447	-31,752	-15,559	24,439	-22,249	9,696	19,973	1,275,578	-2,339,692	400	-837,560	283,293	-245,181	259,292	163,999	-200,201	-280,770	-39,906	-39,906	-520,877	-39,906	0	0	0
Issuance Of Capital Stock	807,688	298,680	101,467	1,272,270	0	0	22	3,219,123	350	2,386,129	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	55,500	55,500	102,704	-13	-155	4,281,264	572,715	-7,960	-2,100,000	-2,100,000	-2,100,000	-5	-5	-6,109	1,910,787	538,128	-2,356	-5,371	586,456	-690,058	-114	-277	-690,784	142,564	142,578	142,578	-14	0
Net Income	759,721	565,459	701,581	527,861	614,842	336,878	-58,141	242,688	283,798	164,184	303,077	272,099	290,412	396,218	231,643	-22,065	100,713	146,515	154,127	152,926	144,630	132,024	141,360	114,103	44,537	0	0	0	0
Other Cashflows From Financing Activities	25,415	94,106	-2,278	350,426	592,996	-6,546	4,879,202	570,612	2,089,948	-25,238	-2,072	-2,071	2,072,578	54,035	-8,150	2,446,283	-50,359	-4,367	-7,382	-2,031	-1,981	-2,095	-61,537	-4,582	2,534,772	-1,078	-496	-1,671	-162
Other Cashflows From Investing Activities	0	0	5,964	-1,267,125	-903	194	-4,581,395	-136	-1,994	-3,518	-1,285	-599	19,496	31,374	-394	-690	-1,819,098	-899	-620	559	155,662	-2,911	-3,442	-345	159,000	0	0	0	0
Other Non Cash Items	-121,253	-119,036	-124,339	2,314	-131,354	130,036	684,600	61,233	-9,526	2,673	-20,221	-21,443	-24,074	-348,532	8,139	9,223	75,642	17,310	-378	-1,047	-5,023	-11,514	-11,708	-11,420	-8,287	522	0	0	-152
Sale Purchase Of Stock	-10,839	-9	-362	-4,595	-38	0	-3,406	-2,712	-87	2,386,129	-128	-1,519	-1	63,031	-41	-165	2,250,000	-648	1,036,923	128,085	690,058	0	0	1,307,119	963,782	-84	963,782	963,782	0
Stock Based Compensation	4,019	4,019	4,031	3,467	3,627	3,493	3,236	2,630	2,304	2,395	2,395	2,277	2,013	2,014	2,011	1,350	1,402	1,404	1,366	1,051	860	623	468	391	1,385	0	0	0	0
Total Cash From Financing Activities	389,349	-45,578	-297,470	985,489	-382,453	-353,219	4,006,449	3,559,160	-236,919	83,787	-179,448	-181,598	-179,773	-41,585	1,129,253	1,971,324	398,945	-137,456	911,464	9,713	586,007	-99,113	-61,537	612,479	1,148,446	-1,162	-496	-1,685	-175
Total Cash From Operating Activities	576,492	552,106	530,378	522,033	487,919	504,343	652,961	298,173	285,426	200,454	254,744	155,726	344,119	221,024	181,051	137,446	244,960	174,257	147,300	115,642	175,565	81,854	124,180	122,483	129,440	2,244	727	909	335
Total Cashflows From Investing Activities	0	-734,123	258,094	-1,468,856	-414,916	-246,742	-4,614,111	-4,028,245	21,593	-22,249	9,696	32,409	7,590	-3,715,918	-852	-839,579	-5,522	-806,843	-447,854	-101,160	-308,406	-792,008	-40,118	-345	-1,138,169	-1,718	-134	-66	0

Income Statement

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31
Cost Of Revenue	27,089	82,231	48,570	33,425	18,901	99,181	33,768	13,739	13,417	14,067
Depreciation And Amortization	4,298	3,182	3,091	3,731	28,843	3,686	3,153	3,030	2,882	2,904
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Ebit	3,374,554	1,701,749	1,444,459	1,253,387	842,499	781,988	105,990	7	18	39
Ebitda	3,378,852	1,704,931	1,447,550	1,257,118	871,342	785,674	109,143	3,037	2,900	2,943
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	0	0	2,423	0	0	0
Gross Profit	3,584,899	2,518,466	1,460,998	1,192,149	875,897	798,796	167,668	5,046	4,660	4,841
Income Before Tax	2,548,481	1,139,143	1,026,045	897,039	555,986	533,558	42,636	0	42,636	42,636
Income Tax Expense	-6,141	2,876	2,887	831	1,705	1,441	-1,901	0	-3	-4
Interest Expense	818,056	523,720	328,151	308,605	248,384	212,663	63,354	7	18	39
Interest Income	23,970	9,530	120	6,795	20,014	11,307	63,072	0	0	0
Minority Interest	-41,082	-18,632	9,307	4,534	83,806	83,573	84,875	84,875	84,875	84,875
Net Income	2,513,540	1,117,635	1,013,851	891,674	545,964	523,619	42,662	0	3	4
Net Income Applicable To Common Shares	0	1,117,635	1,013,851	891,674	545,964	523,619	42,662	42,662	3	4
Net Income From Continuing Ops	2,554,622	1,136,267	1,023,158	896,208	554,281	532,117	44,537	0	3	4
Net Interest Income	-794,086	-530,423	-392,270	-301,810	-228,370	-201,356	-63,072	-7	0	0
Non Operating Income Net Other	0	0	-15,502	-39,059	-58,143	-23,040	-38,488	0	0	0
Non Recurring	0	0	0	0	0	12,727	0	0	0	0
Operating Income	3,374,554	1,701,749	1,444,459	1,253,387	842,499	757,954	144,196	7	18	39
Other Items	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	267,140	968,247	65,229	312,334	47,301	127,296	48,201	18,778	18,059	18,869
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0
Reconciled Depreciation	4,298	3,182	3,091	3,731	3,831	3,686	3,153	0	0	0
Research Development	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	0	0	0	0	0	0	0	0	0	0
Selling General Administrative	59,603	48,340	33,122	30,661	24,569	24,429	11,280	2,009	1,760	1,898
Tax Provision	-6,141	2,876	2,887	831	1,705	1,441	-1,901	0	0	0
Total Operating Expenses	240,051	886,016	16,659	278,909	28,400	28,115	14,433	5,039	4,642	4,802
Total Other Income Expense Net	-2,281	-562,606	-418,414	-356,348	-286,513	-35,767	-101,560	-7	-18	-39
Total Revenue	3,611,988	2,600,697	1,509,568	1,225,574	894,798	897,977	201,436	18,785	18,077	18,908

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30
Cost Of Revenue	8,215	6,332	6,590	5,952	24,090	23,048	5,859	5,285	12,792	12,079	12,219	11,480	11,542	11,935	4,875	5,073	4,538	5,423	4,848	4,092	24,752	29,646	23,445	21,338	23,684	3,008	-6,036	3,278	3,579	3,047
Depreciation And Amortization	1,586	1,011	887	814	811	816	779	776	771	771	757	792	741	910	1,213	867	883	1,000	1,018	930	929	929	922	906	751	801	0	0	803	776
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Ebit	959,757	774,596	907,851	732,350	788,490	508,596	92,678	311,985	355,707	345,470	384,930	358,352	369,249	475,275	310,805	98,058	231,160	216,063	212,366	207,922	199,878	198,461	193,247	190,402	153,517	0	0	0	1	1
Ebitda	961,343	775,607	908,738	733,164	789,301	509,412	93,457	312,761	356,478	346,241	385,687	359,144	369,990	476,185	312,018	98,925	232,043	217,063	213,384	208,852	200,807	199,390	194,169	191,308	154,268	801	0	0	804	777
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Extraordinary Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Gross Profit	923,650	897,986	891,568	871,695	745,816	728,495	656,764	411,340	370,362	363,625	364,181	362,830	361,476	327,718	253,027	249,928	232,999	217,090	215,898	209,910	201,287	203,041	197,530	196,938	163,925	1,094	-2,771	1,355	1,244	1,236
Income Before Tax	749,950	566,103	703,480	528,948	615,874	337,295	-57,114	243,088	284,557	164,572	304,333	272,583	290,848	395,850	231,952	-21,611	101,320	146,539	154,680	153,447	145,188	132,076	141,807	114,487	42,636	42,636	-85,272	42,636	0	-
Income Tax Expense	-9,771	644	1,899	1,087	1,032	417	1,027	400	759	388	1,256	484	436	-368	309	454	607	24	553	521	557	52	448	384	-1,901	0	0	0	0	-
Interest Expense	205,175	198,890	197,557	198,323	163,292	163,317	128,969	68,142	70,437	100,860	79,806	77,048	77,420	77,399	77,693	76,093	71,448	68,531	54,819	53,586	54,297	54,051	51,440	52,875	63,354	63,354	126,708	63,354	1	1
Interest Income	7,776	7,341	5,806	3,047	5,633	3,024	780	93	45	26	30	19	52	214	1,009	5,520	4,153	6,690	4,004	48,419	0	0	0	0	0	0	0	0	0	-
Minority Interest	-11,952	-9,130	-10,879	-9,121	-10,789	-5,973	435	-2,305	2,319	-2,322	78,429	78,133	2,402	-2,056	81,663	81,463	83,806	83,755	83,686	83,619	83,573	-2,112	-2,315	1,981	84,875	84,875	-169,750	84,875	0	-
Net Income	747,769	556,329	690,702	518,740	604,053	330,905	-57,706	240,383	281,479	161,862	300,709	269,801	288,010	398,274	229,402	-24,012	98,631	144,435	152,049	150,849	142,541	129,912	139,044	112,122	42,662	0	0	0	0	-
Net Income Applicable To Common Shares	0	556,329	556,329	556,329	604,053	330,905	-57,706	240,383	281,479	161,862	300,709	269,801	288,010	398,274	229,402	-24,012	98,631	144,435	152,049	150,849	142,541	129,912	139,044	112,122	42,662	44,537	-89,074	44,537	0	-
Net Income From Continuing Ops	759,721	565,459	701,581	527,861	614,842	336,878	-58,141	242,688	283,798	164,184	303,077	272,099	290,412	396,218	231,643	-22,065	100,713	146,515	154,127	152,926	144,630	132,024	141,359	114,103	44,537	44,537	-89,074	44,537	0	-
Net Interest Income	-197,399	-197,586	-197,788	-201,313	-163,696	-166,330	-132,348	-68,049	-70,392	-165,073	-79,776	-77,029	-77,368	-77,185	-76,684	-70,573	-67,295	-61,841	-50,815	-48,419	0	0	0	0	0	0	0	0	0	-
Non Operating Income Net Other	0	0	0	0	0	0	0	0	45	-15,596	30	19	0	0	0	-39,059	0	0	0	0	0	0	0	-23,040	0	0	0	0	0	-
Non Recurring	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	12,334	0	0	0	0	0	0	0	-
Operating Income	959,757	555,685	688,803	732,350	788,490	508,596	92,678	311,985	352,675	345,444	384,900	358,333	369,197	139,683	308,636	88,021	226,758	208,380	205,495	201,866	195,682	184,100	189,448	188,724	144,196	-235	-288,392	144,196	1	1
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Other Operating Expenses	19,955	135,941	433	151,587	8,965	268,690	585,859	104,733	27,492	30,260	8,500	15,977	3,821	197,944	51,894	162,463	10,530	13,140	12,384	11,247	29,964	36,253	31,527	29,552	34,374	4,102	0	0	4,822	4,282
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Reconciled Depreciation	1,586	1,011	887	814	811	816	779	776	771	771	757	792	741	910	1,213	867	883	1,000	1,018	930	929	929	922	906	751	801	0	0	803	776
Research Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Selling And Marketing Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Selling General Administrative	15,256	14,422	14,920	15,005	15,029	12,063	11,782	9,466	9,030	8,379	7,628	8,085	8,101	8,047	7,498	7,015	5,109	6,717	6,518	6,225	4,283	5,678	7,160	7,308	9,939	293	1,152	550	440	459
Tax Provision	-9,771	644	1,899	1,087	1,032	417	1,027	400	759	388	1,256	484	436	-368	309	454	607	24	553	521	0	0	0	0	0	0	0	0	0	-
Total Operating Expenses	-28,170	129,609	-7,023	145,635	-15,125	245,642	580,000	99,448	14,700	18,181	-20,719	4,497	-7,721	186,009	-56,769	157,390	5,992	7,717	7,536	7,155	5,212	6,607	8,082	8,214	10,690	1,094	-8,807	4,633	1,243	1,235
Total Other Income Expense Net	-4,471	-4,688	2,677	-203,402	-172,616	-171,301	-1,530	-68,897	-713	-15,799	-791	-8,721	-981	331,326	-1,160	-43,576	-58,392	-993	-2,867	-889	-393	-12,334	-47,641	-23,040	-47,527	0	0	0	0	-
Total Revenue	931,865	904,318	898,158	877,647	769,906	751,543	662,623	416,625	383,154	375,704	376,400	374,310	373,018	339,653	257,902	255,001	237,537	222,513	220,746	214,002	226,039	232,687	220,975	218,276	187,609	4,102	8,807	4,633	4,823	4,283

Latest Income Statement (annual, 2023-12-31)

Gross Profit (+$)
totalRevenue	3,611,988
Cost of Revenue	-27,089
Gross Profit	3,584,899	3,584,899

Operating Income (+$)
Gross Profit	3,584,899
Operating Expense	-240,051
Operating Income	3,374,554	3,344,848

Operating Expense (+$)
Research Development	0
Selling General Administrative	59,603
Selling And Marketing Expenses	0
Operating Expense	240,051	59,603

Net Interest Income (+$)
Interest Income	23,970
Interest Expense	-818,056
Other Finance Cost	-0
Net Interest Income	-794,086

Pretax Income (+$)
Operating Income	3,374,554
Net Interest Income	-794,086
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	2,548,481	3,376,835 EBIT - interestExpense = 2,556,498 2,507,399 3,331,596
Interest Expense	818,056
Earnings Before Interest and Taxes (EBIT)	3,374,554	3,366,537
Earnings Before Interest and Taxes (EBITDA)	3,378,852

After tax Income (+$)
Income Before Tax	2,548,481
Tax Provision	--6,141
Net Income From Continuing Ops	2,554,622	2,554,622
Net Income	2,513,540
Net Income Applicable To Common Shares	0

Non-recurring Events
Discontinued Operations	0
Extraordinary Items	0
Effect of Accounting Charges	0
Other Items	0
Non Recurring	0
Other Operating Expenses	267,140
Total Other Income/Expenses Net	-2,281	794,086

Technical Analysis of VICI Properties Inc
The psychology behind the price

Technical indicators reflecting market sentiment and the collective psychology of you and other traders. Your emotions and other traders' emotions, such as fear and greed, play a significant role in driving price movements.

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of VICI Properties Inc. The general trend of VICI Properties Inc is BEARISH with 71.4% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine VICI Properties Inc's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

Some of the indicators I use have 3 zones: overbought, oversold and neutral. Transitions between these zones (market phases) provide valuable trading signals and insights. Expecially with the general trend mind, I use the highlighted phases:

Indicator zone transitions	Bullish trend (-71.4%)		Bearish trend (71.4%)
Overbought to neutral	Bullish pullback	=	Bearish reversal
Upper to lower neutral	Bullish correction	=	Bearish continuation
Nuetral to oversold	Oversold	=	Oversold
Oversold to neutral	Bullish reversal	=	Bearish correction
Lower to upper neutral	Bullish continuation	=	Bearish pullback
Nuetral to overbought	Overbought	=	Overbought

1. Price Targets

1.1 Support & Resistance

Support and resistance are levels on a price chart that act as barriers or zones where the price of an asset tends to stop, reverse, or experience a significant amount of buying or selling pressure.

Support is a price level at which demand for an asset is strong enough to prevent the price from falling further.
Resistance is a price level at which selling pressure becomes significant enough to prevent the price of an asset from rising further.

Score

Let's take a look at the Support & Resistance of VICI Properties Inc.

The long score for the Support & Resistance is 0/1.
The longshort score for the Support & Resistance is 0/(-1 +1).

Between support/resistance: The price is trading between support and resistance lines.

The bullish price targets are: 29.94 < 29.96 < 29.97.

The bearish price targets are: 25.90 > 25.07 > 23.87.

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VICI Properties Inc Daily Support & Resistance Chart

2. Trend Indicators

2.1 Moving Averages

Shows the moving average of the selected period.

Moving averages are lagging trend indicators.
There are many types of moving averages.
Moving averages are also used within other indicators.

Score

Let's take a look at the Moving Averages of VICI Properties Inc. The current mas is .

The long score for the Moving Averages is 2/14.
The longshort score for the Moving Averages is -10/(-14 +14).

MA 20 trending down: The MA 20 is trending down. -1
Close < MA 20: The price is below the MA 20. -1
MA 20 < MA 50: The MA 20 is lower than the MA 50. -1
MA 20 < MA 100: The MA 20 is lower than the MA 100. -1
MA 20 < MA 200: The MA 20 is lower than the MA 200. -1
MA 50 trending down: The MA 50 is trending down. -1
Close < MA 50: The price is below the MA 50. -1
MA 50 < MA 100: The MA 50 is lower than the MA 100. -1
MA 50 < MA 200: The MA 50 is lower than the MA 200. -1
MA 100 trending up: The MA 100 is trending up. +1
Close < MA 100: The price is below the MA 100. -1
MA 100 > MA 200: The MA 100 is higher than the MA 200. +1
MA 200 trending down: The MA 200 is trending down. -1
Close < MA 200: The price is below the MA 200. -1

Directionalities and relatives.

Moving Average	Amount of candles	vs. MA 50	vs. MA 100	vs. MA 200
MA 20	20
MA 50	50	-
MA 100	100	-	-
MA 200	200	-	-	-

Explanation: https://www.youtube.com/watch?v=xwW8h0lrQ-I

Shows the moving average of the selected period.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

There are various kinds of moving averages:

Simple moving average (SMA);
Exponential moving average (EMA);
Smoothed moving average (SMMA);
Linear weighted moving average (LWMA).

The moving average looks at a certain period of time and it calculates the price average. The various types of averages are using various formulas. Don’t worry, you don’t have to memorize any formula. All moving averages are calculated automatically by basically every charting software you use. But it’s good to know how moving averages are actually calculated.

Simple moving average

SMA is calculated by summing up the price closures of the selected period. The price is then divided by the selected period. For example, when using the 21 day moving average you sum up all the closing prices for each day and divide that by 21. The result is a line on the chart representing the average. Because it’s an average in the selected timeframe, the trend is always lagging. An moving average looks like this on the chart:

Source: Tradingview.com

In this case, the blue line represents a 21 day moving average. Because the average is based on results from the past, the indicator will always lag behind. For example, when price would suddenly go up, the moving average won't immediately follow.

All other moving averages discussed below look the same on the chart. The only difference is that the line will move in different directions based on the maths behind the used indicators and the amount of days used to determine the average.

Exponential moving average

The EMA gives more weight to the latest closing prices by giving them more value in the equation. EMA is calculated by adding a certain percentage to the latest closing prices:

EMA = (CLOSE (i) * P) + (EMA (i - 1) * (1 - P))

Where:

CLOSE (i) = current period close price.
EMA (i - 1) = value of the Moving Average of a preceding period.
P = the percentage of using the price value.

Smoothed moving average

A smoothed moving average is an exponential moving average with a long lookback period. Older prices are reduced in weight but are never left out in the calculation. Unlike SMA and EMA where prices are removed when they are beyond the selected period. SMMA is a combination of the SMA and EMA. The main advantage is that it smooths out fluctuations in price.

Linear weighted moving average

The LWMA gives the latest price the highest weight and then lineary scales down with each price before that. The result is that the LWMA reacts quicker to changes in price than the SMA or EMA. The formula:

LWMA = ((Pn∗W1)+(Pn−1∗W2)+(Pn−2∗W3)...) / ∑W

Where:

P = Price for the period.
n = The most recent period, n-1 is the prior period, and n-2 is two periods prior.
W = The assigned weight to each period, with the highest weight going first and then descending linearly based on the number of periods being used.

Moving averages are widely used by many traders. Which moving average you need depends on your trading strategy. Common practise is using a combination of multiple periods. For example, the EMA21, EMA50, EMA100 and EMA200. How does that look on a chart:

Source: Tradingview.com

The lowest (purple) line on the chart represents the EMA200 then following up the EMA100, EMA50 and EMA21.

You can use moving averages to determine a trend. The 200 moving average is mostly used as a baseline for determining the current trend:

When the 200 moving average is moving up it is considered a bullish trend.
When the 200 moving average is down it is considered a bearish trend.
When moving averages are flatlined, there is no clear trend so you should look for market structure, consolidation or trend reversals. Depending on how you want to trade.

This is not set in stone. Most trading strategies use multiple moving averages each with different settings. While one strategy might use the EMA20, the other uses the SMA21. There can be hundreds of different variations. Moving averages can also be used as support and resistance. More often than not, prices will bounce on moving averages.

VICI Properties Inc Daily Moving Averages Chart

2.2 Moving Average Convergence/Divergence (MACD)

Shows the momentum of the selected period based on two moving averages.

MACD is a lagging momentum indicator.
Uses two moving averages.
Can show buy or sell signals based on momentum.
Can show overbought. and oversold. levels.

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of VICI Properties Inc. The current macd is -0.43222087.

The long score for the Moving Average Convergence/Divergence (MACD) is 1/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is -2/(-4 +4).

MACD line < signal line: The MACD line is below the signal line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the VICI Properties Inc price going down in the near term. -2
MACD < 0: The MACD is below the zero line (centerline), it indicates a bearish signal for VICI Properties Inc. This means that the short-term moving average is lower than the long-term moving average, signaling negative momentum and suggesting a higher likelihood of the VICI Properties Inc price continuing to fall in the near future. It indicates that sellers are gaining control, and there is negativism in the market, leading to potential price decreases. -1
Trending up: The MACD line is trending up. This indicates that the short-term moving average is rising faster than the long-term moving average, suggesting positive momentum in the market. This signals that buyers are becoming more active and confident, leading to potential price increases as traders anticipate further gains and are willing to buy at higher prices. +1

VICI Properties Inc Daily Moving Average Convergence/Divergence (MACD) Chart

2.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index). The ADX helps you determine the strength of a trend.

Score

Let's take a look at the Directional Movement Index (DMI) of VICI Properties Inc. The current adx is 21.92.

The long score for the Directional Movement Index (DMI) is 0/7.
The longshort score for the Directional Movement Index (DMI) is -1/(-7 +7).

PLUS_ID < MINUS_DI: The +DI line is below the -DI line. This indicates a bearish signal in the market, as the negative directional movement is currently stronger than the positive directional movement, showing that sellers have the upper hand. Market psychology suggests that traders are pessimistic, expecting further price decreases, and are more willing to sell VICI Properties Inc shares, leading to potential downward momentum in its price. -1
PLUS_ID < MINUS_DI && ADX < 25 && ADX trending down: The ADX is below 25 and indicates a weak or no trend. Also, the ADX is declining so there is no trend indication.

VICI Properties Inc Daily Directional Movement Index (DMI) Chart

2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

Parabolic SAR (stop and reverse) is a lagging trend indicator.
Shows the current trend.
Shows potential entry signals.
Shows potential exit signals.
Can be used to place trailing stoplosses..

Score

Let's take a look at the Parabolic SAR of VICI Properties Inc. The current sar is 28.89.

The long score for the Parabolic SAR is 0/1.
The longshort score for the Parabolic SAR is -1/(-1 +1).

Close < SAR: The price is below the SAR. It's generally considered a bearish signal. -1

VICI Properties Inc Daily Parabolic SAR Chart

3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

Leading momentum indicator, meaning the signals are instant.
Ranges between 0 and 100.
Above 70 is considered overbought.
Below 30 is considered oversold.
Above or below 50 can also be used to determine price trend or support and resistance.
RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
Can be used in many different ways

Score

Let's take a look at the Relative Strength Index (RSI) of VICI Properties Inc. The current rsi is 41.45. The current phase is Continuation in bear market.

The long score for the Relative Strength Index (RSI) is 1/13.
The longshort score for the Relative Strength Index (RSI) is -2/(-13 +13).

Continuation in bear market: Downtrend continues after a consolidation or pullback. Hold or add to short positions.
Trending up: The RSI is trending up. +1

Measures the speed and change of price movements.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

The RSI measures the magnitude of recent price changes to determine if the asset is overbought or oversold.

Overbought (RSI above 70) means that the trading price is above its intrinsic value. This might indicate a sell or short signal.
Oversold (RSI below 30) means that the trading price is below its intrinsic value. This might indicate a buy or long signal.
RSI levels above or below 50 can also be used to determine a trend.
RSI divergence looks at a deviation between RSI and price movement.
Can be used in many different ways.

Original usage

Keep in mind that almost every indicator can be used in different ways. Even beyond the orginal settings. The relative strength index was developed by J. Welles Wilder. Wilder recommended a smoothing period of 14 days. That means a 14 day moving average (read more about this setting below). Another quote from the wikipedia page:

Wilders also considers the RSI 50 line as both support and resistance. I recommend to always read the original settings first before using an indicator. Many traders and websites are using their own version of the indicator which might be confusing.

How you can use RSI (Divergence)

First and foremost, there is no real right or wrong usage of the RSI indicator. You can use it in any way you want. Wilder recommends using a 14 day average but you can make it 50 or 100 if you like. Just keep in mind that using an indicator is just part of a larger trading plan. In other words, it’s not recommended to do any trading or investing based on a single indicator like the RSI.

The RSI is measured on a scale between 0 and 100. From 30 till 0 is considered oversold. and from 70 -100 is overbought. The RSI is a leading indicator, meaning the signals are instant.

I like to use the RSI as a trend\momentum indicator and not as an overbought or oversold indicator. I use the middle (50) as the baseline. When prices go above RSI 50 the trend is bullish and can indicate long positions. When below 50 it is considered bearish and can indicate short positions. Other traders use the 70 and 30 levels as overbought/oversold depending on the used strategy. The RSI indicator looks like this:

Source: Tradingview.com

The general concensus is that an RSI above 70 indicates that the security is overbought. In other words, the price this security is trading for is to high and should come down. So if RSI hits 70 or above this might indicate a sell signal or taking a short position (expecting the price will go down). Although RSI above 70 indicates the security is trading above it's fair value, that does not mean the price will go down.

Use tradingview to add indicators

I highly recommend using tradingview to add indicators to a chart. It has all the indicators you can think off and can add them for free (up to three indicators) to any chart you want. You can see that the levels 30 and 70 are marked with a dotted line. If you want you can remove these lines or give it another colour using Tradingview. You can also adjust the moving average used. You can also find RSI indicators made by the community that include other settings like RSI divergences.

Tradingview

Use Tradingview to (back)test your strategies and add hundreds of indicators created by the community.

View tool on Tradingview.com

RSI divergence

RSI is not only used to determine momentum but can also spot reversals or continuations of the trend. A reversal means that the trend is going in the opposite direction. From bullish to bearish or from bearish to bullish. These reversals can be spotted by looking at the price and the direction of the RSI. When the price is going up but the RSI is going down that means there is a divergence. This is also the case when RSI goes up but price is going down.

There are four types of divergences:

Regular bullish divergence
Regular bearish divergence
Hidden bullish divergence
Hidden bearish divergence

Regular bullish divergence

With a regular bullish divergence, the price is making lower highs but the oscillator (in this case the RSI) is making higher lows. A regular bullish divergence might indicate the end of the current trend. You’ll see regular bullish divergences mostly at the end of a downtrend. But that does not mean that every regular bullish divergence is a trend reversal.

Price is making lower highs
RSI is making higher lows
Indicating bullish reversal (price might go up)

Source: Tradingview.com

Regular bearish divergence

With a regular bearish divergence the price is making higher highs but the oscillator (in this case the RSI) is making lower highs. This might indicate the end of an uptrend.

Price is making higher highs
RSI is making lower highs
Indicating bearish reversal

Source: Tradingview.com

Hidden bullish divergence

With a hidden bullish divergence, the price is making a higher low while the RSI is making a lower low. This might indicate bullish trend continuation.

Price is making higher lows
RSI is making lower lows
Indicating bullish continuation

Source: Tradingview.com

As you have noticed, you can have multiple divergences in a row.

Hidden bearish divergence

With a hidden bearish divergence, price is making lower highs but RSI is making higher highs. This might indicate bearish trend continuation.

Price is making lower highs
RSI making higher highs
Indicating bearish continuation

Source: Tradingview.com

You can find many cheatsheets of RSI divergences online. Search for "RSI divergence overview" and you'll find a lot of examples. You can print these to learn the various types of divergences.

VICI Properties Inc Daily Relative Strength Index (RSI) Chart

3.2 Stochastic Oscillator

Compares a certain price to multiple prices ranging over time.

Leading momentum indicator, meaning the signals are instant.
Used to determine overbought and oversold areas much like the RSI.
Ranges between 0 and 100.
Above 80 is considered overbought.
Below 20 is considered oversold.
Consists of two lines named K and D.
K compares the highest high and lowest low on the selected price range.
The D line is a moving average of the K line.
Can be used to spot divergences

Score

Let's take a look at the Stochastic Oscillator of VICI Properties Inc. The current phase is Continuation in bear market.

The long score for the Stochastic Oscillator is 3/6.
The longshort score for the Stochastic Oscillator is 2/(-6 +6).

STOCH < 50: The STOCH %K is below 50. There are more sellers than buyers. -1
STOCH %K line > STOCH %D line: The STOCH %K line is above the STOCH %D line, which indicates a bullish signal in the market. This means that the positive momentum is currently stronger than the average momentum, suggesting that buyers are more active than sellers, and there's a higher probability of the VICI Properties Inc price going up in the near term. +2
Trending up: The STOCH %K is trending up. +1

VICI Properties Inc Daily Stochastic Oscillator Chart

3.3 Commodity Channel Index (CCI)

Measures the difference between the current price and the historical average price.

Lagging or leading Momentum indicator
When the CCI is above zero, the price is above the historical average
When the CCI is below zero, the price is below the historical average
Used for spotting trends
- If the CCI moves from negative or near zero to positive 100 that might indicate an uptrend
- If the CCI moves from positive or near zero to negative -100 that might indicate a downtrend

Score

Let's take a look at the Commodity Channel Index (CCI) of VICI Properties Inc. The current cci is -79.57957958.

VICI Properties Inc Daily Commodity Channel Index (CCI) Chart

3.4 Chande Momentum Oscillator (CMO)

Measures the difference between the sum of recent gains and the sum of recent losses. Then divides the result by the sum of all price movements in that period.

Lagging momentum indicator
Ranges between +100 and -100
Considered overbought above +50
Considered oversold below -50
It's possible to add a moving average that acts as a signal line

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of VICI Properties Inc. The current cmo is -16.37178912.

The long score for the Chande Momentum Oscillator (CMO) is 0/1.
The longshort score for the Chande Momentum Oscillator (CMO) is -1/(-1 +1).

CMO < 0: The CMO is below 0, the momentum of the price is negative, indicating a potential downtrend in the price. -1

VICI Properties Inc Daily Chande Momentum Oscillator (CMO) Chart

3.5 Williams %R

Shows the current price relative to the highest high over the last 14 days.

Lagging momentum indicator
Ranging between 0 and -100
Above -20 is considered overbought
Below -80 is considered oversold
Is prone to give false signals

Score

Let's take a look at the Williams %R of VICI Properties Inc. The current willr is -71.75043328.

The long score for the Williams %R is 0/1.
The longshort score for the Williams %R is 0/(-1 +1).

WILLR between -80 and -20: The Williams %R is between -80 and -20. This indicates that VICI Properties Inc is trading in a neutral price range, neither oversold nor overbought, suggesting a balanced market condition without any extreme price signals.

VICI Properties Inc Daily Williams %R Chart

4. Volatility Indicators

4.1 Bollinger Bands

Shows if the price is to high or to low relative to an average.

Lagging volatility indicator
Uses 3 bands: one upper, one lower and one in the middle
Works best when the middle band reflects an intermediate trend (MA20).
When the price is moving closer to the upper band, the market might be overbought
When the price is moving closer to the lower band, the market might be oversold

Score

Let's take a look at the Bollinger Bands of VICI Properties Inc.

VICI Properties Inc Daily Bollinger Bands Chart

4.2 Average True Range (ATR)

Measures market volatility

Leading volatility indicator
Can be used to determine stop-loss positions
Calculated by:
- Current high minus the current low
- Current high minus the previous close
- Current low minus the previous close
The larger the range of the candles, the greater the ATR value

Score

Let's take a look at the Average True Range (ATR) of VICI Properties Inc. The current atr is 0.49736676.

VICI Properties Inc Daily Average True Range (ATR) Chart

5. Volume Indicators

5.1 On-Balance Volume (OBV)

Measures market volatility

Leading momentum indicator
Calculation:
- If the closing price is above the previous closing price: OBV = previous OBV + current volume
- If the closing price is below the previous closing price: OBV = previous OBV - current volume
- If the closing price is the same as the previous closing price than the OBV is the same.
Can be used to confirm price trends
Can be used with divergences

Score

Let's take a look at the On-Balance Volume (OBV) of VICI Properties Inc. The current obv is -62,040,898.

VICI Properties Inc Daily On-Balance Volume (OBV) Chart

5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

Lagging momentum indicator
Looks like RSI but uses volume as an extra metric (RSI only considers price)
Above 80 is considered overbought
Below 20 is considered oversold
Can be used with divergences

Score

Let's take a look at the Money Flow Index (MFI) of VICI Properties Inc. The current mfi is 37.75.

The long score for the Money Flow Index (MFI) is 0/2.
The longshort score for the Money Flow Index (MFI) is -1/(-2 +2).

MFI < 50: -1

VICI Properties Inc Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for VICI Properties Inc.

6.2. Trading Signals

Below you will find trading signals as the indicator is commonly used. This doesn't mean you should use it that way. Learn from these, but don't use them blindly. I recommend using at least 4 indicators, 1 from each category: trend, momentum, volatility and volume.

Date	Indicator	Signal
2023-11-29	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-12-01	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-05	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-07	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-12	STOCH	LONG EXIT		The %K line crosses below the %D line.
	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2023-12-13	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-15	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2023-12-19	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-20	STOCH	LONG EXIT		The %K line crosses below the %D line.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2023-12-21	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-12-26	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2023-12-29	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-02	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-01-03	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-05	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
2024-01-08	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-09	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-10	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-01-11	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-01-16	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-01-17	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-19	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-24	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-01-25	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-29	MFI	SHORT ENTRY	LONG CLOSE	20 crossover to downside
2024-01-30	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-31	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	MFI	LONG ENTRY	SHORT CLOSE	20 crossover to upside
2024-02-01	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-02-02	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-02-05	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-07	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-02-08	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-09	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-12	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-02-13	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-02-15	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-16	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
2024-02-22	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
2024-02-23	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-02-26	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-02-28	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-29	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-03-01	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-03-04	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-03-05	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-03-06	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
2024-03-07	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-11	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-03-13	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-03-14	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-03-15	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-20	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
2024-03-21	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-03-22	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-03-26	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-03-27	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-04-01	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-08	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-04-09	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-04-10	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-04-15	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
2024-04-16	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-17	RSI	LONG ENTRY	SHORT CLOSE	30 crossover to upside
2024-04-18	STOCH	SHORT EXIT		The %K line crosses above the %D line.

6.3. Candlestick Patterns

VICI Properties Inc Daily Candlestick Chart

Date	Candlestick Pattern

6.4. Technical Score

Let's check the technical score of VICI Properties Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	41.453
Ma 20	Greater than	Ma 50	28.718
Ma 50	Greater than	Ma 100	28.880
Ma 100	Greater than	Ma 200	29.590
Open	Greater than	Close	27.600
Total			1/5 (20.0%)

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Quick analysis of VICI Properties Inc (30 sec.)

What can you expect buying and holding a share of VICI Properties Inc? (30 sec.)

How much money do you get?

What is your share worth?

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1. Valuation of VICI Properties Inc (5 min.)

$27.89

$24.60

$-40.61 - $-49.64

$-16.01 - $-25.04

2. Growth of VICI Properties Inc (5 min.)

Is VICI Properties Inc growing?

How much money is VICI Properties Inc making?

How much money comes from the company's main activities?

3. Financial Health of VICI Properties Inc (5 min.)

What can you expect buying and holding a share of VICI Properties Inc? (5 min.)

What can you expect buying and holding a share of VICI Properties Inc?

Speculation

Investing

How much money are you going to get?

When do you get the money?

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Linear %

Fundamentals of VICI Properties Inc

About VICI Properties Inc

Financial Health

Valuation

1.1. Profitability of VICI Properties Inc.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

1.1.2. Return on Assets

Trends

1.1.3. Return on Equity

Trends

1.2. Operating Efficiency of VICI Properties Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

1.2.2. Operating Ratio

Trends

1.3. Liquidity of VICI Properties Inc.

1.3. Liquidity

1.3.1. Current Ratio

Trends

1.3.2. Quick Ratio

Trends

1.4. Solvency of VICI Properties Inc.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

1.4.2. Debt to Equity Ratio

Trends

2. Market Valuation of VICI Properties Inc

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

2.2. Price To Free Cash Flow Ratio

Trends

2. Book Value per Share

2.3. Price to Book Ratio

Trends

VICI Properties Inc
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