Filing Flows › Vici Properties (VICI) › Q1 2026 › vs Q4 2025
Vici Properties (VICI) Q1 2026 vs Q4 2025 (quarter over quarter)
Vici Properties's revenue rose $5.4M (+0.5%) from $1.0B in Q4 2025 to $1.0B in Q1 2026. Operating margin 87.4% against 60.2% (+27.2 pts).
Vici Properties, Q1 2026: revenue $1.0B (+4% year over year), operating margin 87.4%, net earnings $872M, operating cash flow $632M. The chart draws each line against Q4 2025, the increases inside each band.
Margins
| Q1 2026 | Q4 2025 | Change | |
|---|---|---|---|
| Operating margin | 87.4% | 60.2% | +27.2 pts |
| Net margin | 85.7% | 59.7% | +26.0 pts |
| Free cash flow margin | 62.0% | 68.3% | -6.3 pts |
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $1.0B | $1.0B | $5.4M | +0.5% |
| Operating profit | $890M | $610M | $280M | +46% |
| Costs & expenses | $129M | $403M | −$275M | -68% |
| Pre-tax earnings | $890M | $610M | $280M | +46% |
| Cost of revenue | $6.5M | $7.0M | −$525K | -8% |
| General & admin | $16.0M | $19.3M | −$3.3M | -17% |
| Other operating costs | $106M | $377M | −$271M | -72% |
| Net earnings | $872M | $605M | $268M | +44% |
| Minority interests | $13.6M | $9.5M | $4.0M | +42% |
| Income tax | $4.0M | −$4.6M | $8.5M | — |
| Depreciation | $967K | $963K | $4K | +0.4% |
| Share-based compensation | $4.1M | $4.4M | −$312K | -7% |
| Working capital & other | $246M | −$81.8M | $327M | — |
| Operating cash flow | $632M | $692M | −$60.1M | -9% |
| Free cash flow (OCF − capex) | $631M | $692M | −$60.4M | -9% |
| Capital expenditures | $628K | $302K | $326K | +108% |
Questions
How much did Vici Properties's revenue grow quarter over quarter in Q1 2026?
Vici Properties's revenue rose $5.4M (+0.5%) from $1.0B in Q4 2025 to $1.0B in Q1 2026. Operating margin 87.4% against 60.2% (+27.2 pts).