Realty Income or VICI Properties: which stock is cheaper in 2026?
As of October 5, 2026, Realty Income (O) trades at 39.5× earnings (P/E) and VICI Properties (VICI) at 8.8×, according to Kaplio. Kaplio's verdict: Realty Income, expensive; VICI Properties, expensive. Value range by multiples: $75 for Realty Income and $38–$49 for VICI Properties. Against its own value range, VICI Properties is the cheaper of the two today.
According to the Kaplio Summary
The same verdict as each company's page: price range by multiples, the four lights, the expected return if consensus is right and what Buffett and Lynch would say today.
| Realty Income (O) | VICI Properties (VICI) | |
|---|---|---|
| Summary valuation | expensive ($75) | expensive ($38–$49) |
| The four lights | Valuation: P/FFO 12.3× (expensive) Business: FFO/dividend 1.4× (solid) Balance sheet: Net debt/EBITDA 9.1× (fragile) Results: 0 of 8 (no verdict) | Valuation: P/FFO 8.7× (expensive) Business: FFO/dividend 1.5× (solid) Balance sheet: Net debt/EBITDA 4.7× (solid) Results: 4 of 8 (no verdict) |
| Expected return (per year) | — | — |
| Buffett method | outside his circle | outside his circle |
| Lynch method | outside his circle | stalwart · approves |
Metrics side by side
| Metric | Realty Income (O) | VICI Properties (VICI) |
|---|---|---|
| Overview | ||
| Market Cap | $50.5B | $24.9B |
| Price | $54.13 | $22.65 |
| Valuation | ||
| P/E | 39.5× | 8.8× |
| P/B | 1.3× | 0.8× |
| P/S | 8.5× | 6.1× |
| EV/EBITDA | 11.9× | 11.6× |
| FCF Yield | 4.4 % | 10.6 % |
| Dividend Yield | 6.0 % | 6.2 % |
| Profitability | ||
| ROIC | 2.3 % | 7.6 % |
| ROE | 3.4 % | 9.8 % |
| Gross Margin | 68.6 % | 99.3 % |
| Operating Margin | 29.2 % | 88.8 % |
| Net Margin | 22.3 % | 67.5 % |
| Growth | ||
| Revenue 5Y CAGR | 28.4 % | 26.7 % |
| EPS 5Y CAGR | 0.3 % | 8.2 % |
| FCF 5Y CAGR | 29.3 % | 23.3 % |
| Balance Sheet | ||
| Net Debt / EBITDA | 9.1× | 4.7× |
| Debt / Equity | 0.1× | 0.6× |
Trailing twelve months where available; otherwise the latest fiscal year. Growth: five-year compound annual rate.