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VICI Properties Inc. VICI Golf Course Business — Gain upon lease modification

Discontinued — last reported Q4 '21

Similar metrics at other companies

Toll Brothers logo
TOLGolf Club Properties — Recognition of previously deferred gain
$950K—
Wayfair logo
WGain on lease modification
$3.75M—
W.P. Carey Inc. logo
WPCInvestment Management — Gain On Change In Control Of Interests
$7.26M—
W.P. Carey Inc. logo
WPCReal Estate — Gain on change in control of interests
$0—
W.P. Carey Inc. logo
WPCInvestment Management Segment — Gain on change in control of interests
$0—
W.P. Carey Inc. logo
WPCOwned Real Estate — Gain On Change In Control Of Interests
$4.7M—

Other financials

Income statement

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Revenue$1.0B+3.5%
Gross profit$1.0B+3.5%
Net income$872.4M+60.5%
EPS (diluted)$0.82+60.8%

Balance sheet

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Cash & equivalents$480.2M+43.6%
Total debt$19.2B-1.6%
Total equity$28.2B+5.9%
Total assets$47.1B+3.4%

Cash flow

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Operating cash flow$631.9M+6.8%
CapEx$628.0K+303%
Free cash flow$631.2M+6.7%

Valuation

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Market cap$28.3B-15.3%
Enterprise value$46.99B-10.7%
P/E9.1×-3.6×
P/S7×-1.6×

Profitability

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Gross margin99.3%0.0pp
Operating margin70%—
Net margin76.8%+9.0pp
FCF margin63.1%+0.6pp

Returns & leverage

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Return on equity11.3%+1.2pp
Debt / equity0.7×-0.1×

Where this comes from

Reported directly by VICI Properties Inc. in its filing.

Tagged under the XBRL concept vici:GainUponLeaseModification.

The official record: VICI Properties Inc.’s 10-K, filed February 23, 2022, on SEC EDGAR. View the filing →

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Questions, answered.

What is VICI Properties Inc.'s golf course business — gain upon lease modification?
VICI Properties Inc. (VICI) reported golf course business — gain upon lease modification of $0 in Q4 2021.
What does golf course business — gain upon lease modification mean?
The accounting profit recognized from changing the terms of existing lease agreements within the golf course business.
How do you interpret golf course business — gain upon lease modification?
An increase indicates a favorable contractual adjustment that boosts short-term earnings, though it is often non-recurring in nature.
How does golf course business — gain upon lease modification compare across companies?
Similar to lease modification gains reported by other real estate operators or companies with significant leasing portfolios.