VICI Properties Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	2,775	2,679	2,514	1,118	1,014
Depreciation & Amortization	3.64	4.13	4.3	3.18	3.09
Other Amortization	46.83	46.67	46.12	32.36	71.45
Stock-Based Compensation	16.2	17.51	15.54	12.99	9.37
Income (Loss) on Equity Investments	-	-	1.99	5.04	-
Change in Other Net Operating Assets	11	-11.52	-14.02	46.45	-86.82
Other Operating Activities	-521.05	-480.82	-489.29	-108.75	-95.04
Operating Cash Flow	2,510	2,381	2,181	1,943	896.35
Operating Cash Flow Growth	5.39%	9.19%	12.23%	116.81%	1.44%
Acquisition of Real Estate Assets	-6.03	-13.39	-5.5	-9.58	-23.2
Sale of Real Estate Assets	5.5	0.96	6.24	-	13.3
Net Sale / Acq. of Real Estate Assets	-0.53	-12.43	0.73	-9.58	-9.9
Investment in Marketable & Equity Securities	-44.48	-	-1,050	-217.34	19.97
Other Investing Activities	-	-	-	-4,575	-
Investing Cash Flow	-904.77	-922.78	-2,899	-9,304	41.45
Long-Term Debt Issued	1,710	1,853	419.15	5,600	-
Total Debt Issued	1,710	1,853	419.15	5,600	-
Long-Term Debt Repaid	-1,740	-1,894	-250	-600	-2,100
Total Debt Repaid	-1,740	-1,894	-250	-600	-2,100
Net Debt Issued (Repaid)	-29.48	-40.94	169.15	5,000	-2,100
Issuance of Common Stock	375.35	378.69	2,480	3,219	2,386
Repurchase of Common Stock	-7.23	-5.34	-4.97	-6.16	-1.73
Common Dividends Paid	-1,853	-1,753	-1,584	-1,219	-758.79
Other Financing Activities	-51.69	-36.54	-28.66	-163.89	-39.43
Foreign Exchange Rate Adjustments	0.16	0.45	-0.06	-	-
Net Cash Flow	38.86	2.04	313.64	-530.68	423.62
Cash Interest Paid	778.79	781.4	762.61	466.81	323.22
Cash Income Tax Paid	7.34	3.34	4.92	3.02	1.4
Levered Free Cash Flow	1,467	1,004	-5,688	-17,628	607.98
Unlevered Free Cash Flow	1,947	1,474	-5,223	-17,323	781.77
Change in Working Capital	11	-11.52	-14.02	46.45	-86.82

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.