GLPI
Gaming & Leisure Properties, Inc.
Real Estate • CIK: 0001575965
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Market Cap
$12.50B
P/E (TTM)
15.1x
Rev Growth (TTM)
+4.1%
Net Margin (TTM)
51.7%
FCF Yield (TTM)
9.0%
FCF Margin (TTM)
70.8%
Cash Flow Health
Free Cash Flow8/8 positive
TTM$1.1B
Q4 '26
$343M+43%
Q3 '25
$240M-12%
FCF Margin
TTM70.8%
Q4 '2684.3%+40%
Sector: 13.8%Top 25%
OCF Margin70.8%
OCF/NI1.37x
CapEx Coverage–
FCF Yield9.0%
FCF Growth (2Y)+7%
Cash Conversion Cycle
0 days
DSO: 0+DIO: –−DPO: –
Capital Allocation & Returns
Shareholder Friendly
Total Shareholder YieldEst.
Est.7.0%
Div Yield7.0%
+Est. Buyback1.2%
Strong capital returns to shareholders
Dividend & Payout Metrics
Dividend Yield (TTM)7.0%
FCF Payout Ratio77.2%
Free Cash Flow (TTM)$1.1B
Capital Return / FCF77.2%
Est. Dividends Paid (TTM)$871.9M
Estimated: Buyback data estimated from FCF. Actual repurchase data not available for this company.
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
–
P25MedianP75
(med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
–
Asset Turnover
0.13x
8Q: 0.13x
Leverage (1+D/E)
1.00x
D/E: 0.00x
Asset & CapEx Efficiency
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q4 2026 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2025 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $1.6B | $407.0M↑2.4% | $397.6M↑0.7% | $394.9M↓0.1% | $395.2M↑1.4% | $389.6M↑1.1% | $385.3M↑1.2% | $380.6M↑1.2% | $376.0M |
Operating Income | $1.2B | $363.4M↑7.8% | $337.2M↑39.3% | $242.1M↓6.5% | $258.8M↓16.0% | $308.2M↑13.5% | $271.4M↓7.5% | $293.4M↑13.9% | $257.6M |
Net Income | $824.4M | $267.1M↑10.9% | $241.0M↑59.3% | $151.2M↓8.4% | $165.0M↓24.0% | $217.1M↑17.6% | $184.6M↓11.3% | $208.1M↑19.4% | $174.4M |
Operating Cash Flow | $1.1B | $343.2M↑42.8% | $240.3M↓18.1% | $293.4M↑16.2% | $252.5M↓13.7% | $292.4M↑8.1% | $270.4M↑7.3% | $252.1M↓2.2% | $257.9M |
Free Cash Flow | $1.1B | $343.2M↑42.8% | $240.3M↓11.8% | $272.3M↑13.6% | $239.6M↓18.1% | $292.4M↑11.8% | $261.5M↑6.7% | $245.0M↓5.0% | $257.9M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
15.1x
Volatile
8Q: 66.5x-1216%
Valuation Lenses
Earnings
15.1x
vs – sector
Cash Flow
10.6x
EV/FCF vs –
Growth-Adj
–PEG
N/A
Quality-Adj
–P/E per %ROIC
ROIC: –
Shareholder Returns
Dividend
7.0%
Buyback
–
Total Yield
7.0%
Market Cap$12.50B
EV$11.96B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
96/100
Exceptional
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 10%
18.5%
8Q:–
Return on Invested Capital (ROIC)
–
8Q:–
vs Sector:0.1%
Earnings Quality
Cash Conversion
1.37x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin–
Capital Efficiency
Invested Capital Turnover–
Working Capital
Cash Conversion Cycle0 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
58/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
4.1%
OpInc Growth YoY
17.9%
EPS Growth YoY
2.4%
FCF 3Y CAGR
7.1%
Margin Quality & Sustainability
Low Quality
Profitability Cascade
Gross
—
Operating
—
Net
51.7%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+19.1 pts
FCF: 70.8% | Net: 51.7%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $224.31M
Interest Coverage
–
+Net cash position: $224.31M
Leverage Metrics
Debt-to-Equity
0.00x
Balance sheet risk & solvency analysis