Host Hotels & Resorts vs Vici Properties
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KIRA’s take AI analyst
I put Host Hotels & Resorts and Vici Properties side by side, using each one’s latest annual report. Here is what stands out:
- Host Hotels & Resorts is the larger business, with $6.1B of revenue in fiscal 2025 against $4.0B for Vici Properties, about 1.5 times as much.
- Host Hotels & Resorts grew revenue faster (7.6%, against 4.1%).
- Vici Properties earned a higher return on the capital invested in it (8.2%, against 7.4%).
- Investors pay more for each dollar of Host Hotels & Resorts’s earnings: a P/E of 16.8x against 9.3x for Vici Properties.
Who comes out ahead
Of the 7 measures where higher (or lower) is clearly better, how many each company leads.
Host Hotels & Resorts
HST
5/7
Revenue growth5-year growthReturn on equityNet debt / EBITDAShare count change
Vici Properties
VICI
2/7
Net marginReturn on capital
Side by side
Best in the row
| Latest fiscal year | HST FY25 | VICI FY25 |
|---|---|---|
| Size | ||
| Market cap | $17.2B | $26.2B |
| Revenue | $6.1B | $4.0B |
| Free cash flow | — | $2.5B |
| Net income | $765M | $2.8B |
| Growth | ||
| Revenue growth | 7.6% | 4.1% |
| 5-year growth | 30.4% | 26.7% |
| Share count change | −1.4% | 1.4% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 14.0% | — |
| Net margin | 12.5% | 69.3% |
| FCF margin | — | 62.6% |
| Return on capital | 7.4% | 8.2% |
| Return on equity | 11.6% | 10.2% |
| Balance sheet | ||
| Net debt | $4.3B | $17.0B |
| Net debt / EBITDA | 2.6x | 4.6x |
| Dividends and buybacks | $828M | $1.9B |
| Valuation & quality | ||
| P/E | 16.8x | 9.3x |
| Piotroski F-score | — | — |
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.