Camden Property Trust vs Gaming and Leisure Properties
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The short version
- Gaming and Leisure Properties is the larger business, with $1.6B of revenue in fiscal 2025 against $1.6B for Camden Property Trust.
- Gaming and Leisure Properties grew revenue faster (4.1%, against 1.9%).
- Gaming and Leisure Properties turned more of its sales into free cash flow (51.7% FCF margin, against 24.5%).
- Gaming and Leisure Properties earned a higher return on the capital invested in it (10.2%, against 6.3%).
- Investors pay more for each dollar of Camden Property Trust’s earnings: a P/E of 33.8x against 11.6x for Gaming and Leisure Properties.
| Latest fiscal year | CPT · FY25 | GLPI · FY25 |
|---|---|---|
| Size | ||
| Market cap | $10.4B | $11.3B |
| Revenue | $1.6B | $1.6B |
| Free cash flow | $386M | $825M |
| Net income | $385M | $825M |
| Growth | ||
| Revenue growth | 1.9% | 4.1% |
| 5-year growth | 8.6% | 6.7% |
| Share count change | −0.1% | 2.4% |
| Profitability | ||
| Gross margin | 64.0% | — |
| Operating margin | — | 75.3% |
| Net margin | 24.4% | 51.7% |
| FCF margin | 24.5% | 51.7% |
| Return on capital | 6.3% | 10.2% |
| Return on equity | 8.5% | 18.6% |
| Balance sheet | ||
| Net debt | $3.9B | $7.0B |
| Net debt / EBITDA | 3.4x | 4.7x |
| Dividends and buybacks | $732M | $872M |
| Valuation & quality | ||
| P/E | 33.8x | 11.6x |
| Piotroski F-score | — | — |
Revenue
FY16
CPT $876M
GLPI $828M
FY17
CPT $901M
GLPI $971M
FY18
CPT $955M
GLPI $1.1B
FY19
CPT $1.0B
GLPI $1.2B
FY20
CPT $1.0B
GLPI $1.2B
FY21
CPT $1.1B
GLPI $1.2B
FY22
CPT $1.4B
GLPI $1.3B
FY23
CPT $1.5B
GLPI $1.4B
FY24
CPT $1.5B
GLPI $1.5B
FY25
CPT $1.6B
GLPI $1.6B
CPT
GLPI
Operating margin
FY16
CPT —
GLPI 58.0%
FY17
CPT —
GLPI 62.3%
FY18
CPT —
GLPI 56.3%
FY19
CPT —
GLPI 62.2%
FY20
CPT —
GLPI 70.2%
FY21
CPT —
GLPI 69.2%
FY22
CPT —
GLPI 78.5%
FY23
CPT —
GLPI 74.2%
FY24
CPT —
GLPI 73.8%
FY25
CPT —
GLPI 75.3%
CPT
GLPI
Free cash flow
FY16
CPT $100M
GLPI $514M
FY17
CPT $136M
GLPI $599M
FY18
CPT $145M
GLPI $654M
FY19
CPT $148M
GLPI $750M
FY20
CPT $92.1M
GLPI $428M
FY21
CPT $149M
GLPI $790M
FY22
CPT $295M
GLPI $920M
FY23
CPT $384M
GLPI $1.0B
FY24
CPT $381M
GLPI $1.1B
FY25
CPT $386M
GLPI $825M
CPT
GLPI
Return on capital
FY16
CPT —
GLPI 10.1%
FY17
CPT —
GLPI 8.5%
FY18
CPT —
GLPI 7.8%
FY19
CPT —
GLPI 8.9%
FY20
CPT —
GLPI 10.2%
FY21
CPT —
GLPI 9.3%
FY22
CPT —
GLPI 10.4%
FY23
CPT 6.2%
GLPI 10.4%
FY24
CPT 3.5%
GLPI 10.3%
FY25
CPT 6.3%
GLPI 10.2%
CPT
GLPI
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.