Camden Property Trust vs Gaming and Leisure Properties

Add, change or remove companies; up to four.

KIRA’s take AI analyst

I put Camden Property Trust and Gaming and Leisure Properties side by side, using each one’s latest annual report. Here is what stands out:

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.

Who comes out ahead

Of the 8 measures where higher (or lower) is clearly better, how many each company leads.

Camden Property Trust

CPT

3/8

5-year growthNet debt / EBITDAShare count change

Gaming and Leisure Properties

GLPI

5/8

Revenue growthNet marginFCF marginReturn on capitalReturn on equity

Side by side

Best in the row

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	—	—

Ten years

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

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

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%

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

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

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

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%

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

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.