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	2,819	2,721	2,555	1,136	1,023
Depreciation & Amortization	3.64	4.13	4.3	3.18	3.09
Stock-Based Compensation	16.2	17.51	15.54	12.99	9.37
Other Adjustments	-339.38	-349.86	-379.43	744.52	-52.45
Changes in Accrued Expenses	12.99	-13.44	-11.65	52.26	-88.13
Changes in Other Operating Activities	-1.99	1.92	-2.37	-5.82	1.31
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%
Capital Expenditures	-1.34	-7.53	-4.04	-1.88	-2.51
Sale of Property, Plant & Equipment	5.5	0.96	6.24	-	13.3
Purchases of Investments	-931.73	-1,021	-2,332	-4,815	-39.61
Proceeds from Sale of Investments	27.49	110.33	699.35	94.89	90.96
Payments for Business Acquisitions	-	-	-1,267	-4,575	-
Other Investing Activities	-4.69	-5.86	-1.47	-7.7	-20.7
Investing Cash Flow	-904.77	-922.78	-2,899	-9,304	41.45
Short-Term Debt Issued	426.02	82.2	419.15	600	-
Short-Term Debt Repaid	-439.94	-94.31	-250	-600	-
Net Short-Term Debt Issued (Repaid)	-13.92	-12.11	169.15	-	-
Long-Term Debt Issued	1,284	1,771	-	5,000	-
Long-Term Debt Repaid	-1,300	-1,800	-	-	-2,100
Net Long-Term Debt Issued (Repaid)	-15.56	-28.83	-	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
Net Common Stock Issued (Repurchased)	368.12	373.35	2,475	3,213	2,384
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
Financing Cash Flow	-1,567	-1,457	1,032	6,830	-514.18
Effect of Exchange Rate Changes on Cash and Cash Equivalents	0.16	0.45	-0.06	-	-
Net Cash Flow	38.86	2.04	313.64	-530.68	423.62
Free Cash Flow	2,509	2,374	2,177	1,942	893.85
Free Cash Flow Growth	5.67%	9.05%	12.13%	117.21%	1.47%
FCF Margin	62.62%	61.67%	60.27%	74.65%	59.21%
Free Cash Flow Per Share	2.36	2.27	2.14	2.21	1.55
Levered Free Cash Flow	2,759	2,623	2,669	6,165	-1,172
Unlevered Free Cash Flow	3,658	3,513	3,331	1,653	1,344

Updated Dec 31, 2025. Data Source: Fiscal.ai. real_estate template. Financial Sources.

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