Gaming and Leisure Properties vs Lamar Advertising
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KIRA’s take AI analyst
I put Gaming and Leisure Properties and Lamar Advertising side by side, using each one’s latest annual report. Here is what stands out:
- Lamar Advertising is the larger business, with $2.3B of revenue in fiscal 2025 against $1.6B for Gaming and Leisure Properties.
- Gaming and Leisure Properties grew revenue faster (4.1%, against 2.7%).
- Gaming and Leisure Properties kept more of each dollar of sales as operating profit (75.3% operating margin, against 34.2%).
- Gaming and Leisure Properties turned more of its sales into free cash flow (51.7% FCF margin, against 30.2%).
- Lamar Advertising earned a higher return on the capital invested in it (17.3%, against 10.2%).
- Investors pay more for each dollar of Lamar Advertising’s earnings: a P/E of 28.7x against 11.6x for Gaming and Leisure Properties.
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Gaming and Leisure Properties
GLPI
4/9
Revenue growthOperating marginNet marginFCF margin
Lamar Advertising
LAMR
5/9
5-year growthReturn on capitalReturn on equityNet debt / EBITDAShare count change
Side by side
Best in the row
| Latest fiscal year | GLPI FY25 | LAMR FY25 |
|---|---|---|
| Size | ||
| Market cap | $11.3B | $16.0B |
| Revenue | $1.6B | $2.3B |
| Free cash flow | $825M | $683M |
| Net income | $825M | $587M |
| Growth | ||
| Revenue growth | 4.1% | 2.7% |
| 5-year growth | 6.7% | 7.6% |
| Share count change | 2.4% | −0.9% |
| Profitability | ||
| Gross margin | — | 67.0% |
| Operating margin | 75.3% | 34.2% |
| Net margin | 51.7% | 25.9% |
| FCF margin | 51.7% | 30.2% |
| Return on capital | 10.2% | 17.3% |
| Return on equity | 18.6% | 56.7% |
| Balance sheet | ||
| Net debt | $7.0B | $3.4B |
| Net debt / EBITDA | 4.7x | 3.1x |
| Dividends and buybacks | $872M | $814M |
| Valuation & quality | ||
| P/E | 11.6x | 28.7x |
| Piotroski F-score | — | 8 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.