REIT - Diversified · NYSE
Current Price
$28.60
Intrinsic Value
Use the calculator below to estimate
Run a full DCF analysis on VICI Properties Inc. with auto-filled fundamentals, adjustable assumptions, and sensitivity heatmap.
VICI Properties is an experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including the world-renowned Caesars Palace. VICI Properties' national, geographically diverse portfolio consists of 29 gaming facilities comprising over 48 million square feet and features approximately 19,200 hotel rooms and more than 200 restaurants, bars and nightclubs. Its properties are leased to industry leading gaming and hospitality operators, including Caesars Entertainment, Inc., Century Casinos Inc., Hard Rock International, JACK Entertainment and Penn National Gaming, Inc. VICI Properties also owns four championship golf courses and 34 acres of undeveloped land adjacent to the Las Vegas Strip. VICI Properties' strategy is to create the nation's highest quality and most productive experiential real estate portfolio.
ROIC (TTM)
945.1%
ROE (TTM)
11.2%
FCF Yield
8.34%
The intrinsic value of VICI depends on assumptions about future growth rate, discount rate (WACC), and terminal value. A DCF model discounts projected free cash flows back to present value — small changes in WACC can shift the estimate by 20% or more, which is why sensitivity analysis is essential.
Whether VICI is undervalued depends on comparing the DCF-derived intrinsic value to the current market price of $28.60. A positive margin of safety (intrinsic value above market price) suggests potential undervaluation, but the degree of confidence depends on the reliability of your growth and discount rate assumptions.
To perform a DCF valuation on VICI Properties Inc.: (1) Start with the trailing free cash flow per share as the base, (2) project future FCF growth over 5-10 years based on REIT - Diversified industry trends and company fundamentals, (3) apply a discount rate (WACC) reflecting VICI's risk profile, and (4) add a terminal value for cash flows beyond the projection period.
DCF (Discounted Cash Flow) estimates what a company is worth today based on its future cash generation. For VICI Properties Inc., this means projecting how much free cash flow the REIT - Diversified will produce over the next 5-10 years, then discounting those amounts to today's dollars. VICI's ROIC of 945.1% indicates strong capital efficiency, which supports higher growth assumptions in the DCF model.
WACC (Weighted Average Cost of Capital) is the discount rate in a DCF model — it reflects the minimum return investors require. For VICI, the capital structure and equity risk premium determine WACC. A 1% increase in WACC typically reduces the intrinsic value by 10-15%.
