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Gaming and Leisure Properties (GLPI) Financials

Gaming and Leisure Properties logo
$46.08 +0.18 (+0.40%)
As of 12:38 PM Eastern
This is a fair market value price provided by Polygon.io. Learn more.
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Annual Income Statements for Gaming and Leisure Properties

Annual Income Statements for Gaming and Leisure Properties

This table shows Gaming and Leisure Properties' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 128 106 381 340 391 506 534 685 734 785
Consolidated Net Income / (Loss)		 128 106 381 340 391 506 534 703 755 808
Net Income / (Loss) Continuing Operations		 128 289 381 340 391 506 534 703 755 808
Total Pre-Tax Income 		257 481 606 345 396 510 562 720 757 810
Total Revenue		 575 828 971 808 1,153 1,176 1,238 1,377 1,440 1,530
Net Interest Income / (Expense)		 0.00 0.00 0.00 -248 29 0.00 0.00 0.00 1.04 0.00
Total Interest Income		 0.00 0.00 0.00 0.00 29 0.00 0.00 0.00 1.04 0.00
Total Interest Expense		 0.00 0.00 0.00 248 0.00 0.00 0.00 0.00 0.00 0.00
Total Non-Interest Income		 575 828 971 1,056 1,125 1,176 1,238 1,377 1,439 1,530
Other Service Charges		 154 - - 6.94 - 19 - 0.00 - 10
Net Realized & Unrealized Capital Gains on Investments		 - - - 0.31 - 23 22 65 0.02 3.79
Other Non-Interest Income		 422 828 971 1,049 1,125 1,134 1,216 1,312 1,439 1,516
Provision for Credit Losses		 - - - - - - - 6.90 - 37
Total Non-Interest Expense		 318 348 366 462 436 385 396 342 372 367
Other Operating Expenses		 208 238 252 265 196 154 152 100 105 107
Depreciation Expense		 110 110 113 137 240 231 236 239 263 260
Impairment Charge		 - 0.00 0.00 59 - 0.00 0.00 3.30 -2.19 0.00
Nonoperating Income / (Expense), net		 - - - -1.65 -322 -282 -279 -307 -311 -321
Income Tax Expense		 7.44 7.55 9.79 4.96 4.76 3.88 28 17 2.00 2.13
Net Income / (Loss) Attributable to Noncontrolling Interest		 - - - - 0.00 0.00 0.04 19 21 23
Basic Earnings per Share		 $1.12 $1.62 $1.80 $1.59 $1.82 $2.31 $2.27 $2.71 $2.78 $2.87
Weighted Average Basic Shares Outstanding		 114.43M 178.59M 333.10M 368.30M 215.10M 232.78M 247.54M 262.35M 271.50M 274.83M
Diluted Earnings per Share		 $1.08 $1.60 $1.79 $1.58 $1.81 $2.30 $2.26 $2.70 $2.77 $2.87
Weighted Average Diluted Shares Outstanding		 114.43M 178.59M 333.10M 368.30M 215.10M 232.78M 247.54M 262.35M 271.50M 274.83M
Weighted Average Basic & Diluted Shares Outstanding		 114.43M 178.59M 333.10M 368.30M 215.10M 232.78M 247.54M 262.35M 271.50M 274.83M
Cash Dividends to Common per Share		 $2.18 $2.32 $2.50 $2.57 $2.74 $2.50 $2.86 $2.85 $3.15 $3.04

Quarterly Income Statements for Gaming and Leisure Properties

This table shows Gaming and Leisure Properties' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 220 194 183 156 184 211 174 208 185 217 165
Consolidated Net Income / (Loss)		 226 200 189 160 189 217 180 214 190 224 170
Net Income / (Loss) Continuing Operations		 226 200 189 160 189 217 180 214 190 224 170
Total Pre-Tax Income 		241 200 189 160 190 218 180 215 191 224 171
Total Revenue		 401 336 355 357 360 370 376 381 388 386 395
Net Interest Income / (Expense)		 0.00 - 0.00 0.00 0.00 1.04 0.00 0.00 0.00 - 0.00
Total Interest Income		 0.00 - 0.00 0.00 0.00 1.04 0.00 0.00 0.00 - 0.00
Total Interest Expense		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Non-Interest Income		 401 336 355 357 360 369 376 381 388 386 395
Other Service Charges		 37 -101 37 37 38 - 44 46 48 -127 48
Net Realized & Unrealized Capital Gains on Investments		 67 - -0.56 0.00 0.02 0.56 0.00 0.00 3.79 - 0.13
Other Non-Interest Income		 297 438 318 319 321 481 332 335 337 513 347
Provision for Credit Losses		 -0.02 -22 -5.65 28 1.61 - 23 -3.79 28 -9.94 39
Total Non-Interest Expense		 84 83 94 90 90 98 95 91 90 91 97
Other Operating Expenses		 24 23 28 25 26 26 30 26 25 27 32
Depreciation Expense		 60 60 66 66 66 66 65 65 65 65 65
Nonoperating Income / (Expense), net		 -76 -75 -77 -78 -79 -78 -77 -79 -81 -84 -88
Income Tax Expense		 15 0.62 0.52 0.04 0.48 0.96 0.64 0.41 0.52 0.57 0.56
Net Income / (Loss) Attributable to Noncontrolling Interest		 6.27 5.47 5.32 4.51 5.30 5.96 5.06 6.16 5.41 6.40 5.17
Basic Earnings per Share		 $0.86 $0.76 $0.70 $0.59 $0.70 $0.79 $0.64 $0.77 $0.67 $0.79 $0.60
Weighted Average Basic Shares Outstanding		 257.52M 262.35M 262.36M 262.64M 267.02M 271.50M 271.50M 274.39M 274.39M 274.83M 274.83M
Diluted Earnings per Share		 $0.85 $0.76 $0.70 $0.59 $0.70 $0.78 $0.64 $0.77 $0.67 $0.79 $0.60
Weighted Average Diluted Shares Outstanding		 257.52M 262.35M 262.36M 262.64M 267.02M 271.50M 271.50M 274.39M 274.39M 274.83M 274.83M
Weighted Average Basic & Diluted Shares Outstanding		 257.52M 262.35M 262.36M 262.64M 267.02M 271.50M 271.50M 274.39M 274.39M 274.83M 274.83M
Cash Dividends to Common per Share		 $0.69 - $0.97 $0.97 $0.73 - - - $0.76 - $0.76

Annual Cash Flow Statements for Gaming and Leisure Properties

This table details how cash moves in and out of Gaming and Leisure Properties' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 5.90 -5.32 -7.50 -6.54 1.04 482 238 -486 445 -221
Net Cash From Operating Activities		 320 514 599 654 750 428 804 920 1,009 1,073
Net Cash From Continuing Operating Activities		 320 514 599 654 750 406 804 920 1,009 1,073
Net Income / (Loss) Continuing Operations		 128 289 381 340 391 506 534 703 755 808
Consolidated Net Income / (Loss)		 128 289 381 340 391 506 534 703 755 808
Provision For Loan Losses		 - - - - 13 0.00 8.23 6.90 6.46 37
Depreciation Expense		 110 116 124 148 259 243 252 255 276 273
Amortization Expense		 14 15 13 12 11 11 9.93 9.98 9.86 11
Non-Cash Adjustments to Reconcile Net Income		 72 75 82 136 71 -336 -3.59 -46 -16 -46
Changes in Operating Assets and Liabilities, net		 -4.24 19 -0.32 18 4.87 -18 3.08 -8.72 -22 -10
Net Cash From Investing Activities		 -14 -3,219 0.70 -1,510 -2.82 -9.49 -1,031 -354 -651 -1,606
Net Cash From Continuing Investing Activities		 -14 -3,219 0.70 -1,510 -2.82 -9.49 -1,031 -354 -651 -1,606
Purchase of Property, Leasehold Improvements and Equipment		 -19 -3.44 -3.26 -4.28 -3.02 -3.60 -16 -24 -47 -40
Purchase of Investment Securities		 0.00 -3,268 -83 -1,547 0.00 -5.90 -1,080 -479 -603 -1,909
Sale of Property, Leasehold Improvements and Equipment		 0.31 1.13 0.93 3.21 0.20 0.02 2.09 149 0.00 0.00
Divestitures		 - - - - 0.00 0.00 59 0.00 0.00 1.80
Sale and/or Maturity of Investments		 4.65 52 86 38 - - - 0.00 0.00 341
Net Cash From Financing Activities		 -300 2,699 -607 852 -746 63 443 -1,051 86 312
Net Cash From Continuing Financing Activities		 -300 2,699 -607 852 -746 63 443 -1,051 86 312
Issuance of Debt		 0.00 2,552 100 2,593 1,359 2,076 795 424 1,078 1,522
Repayment of Debt		 -68 -377 -335 -1,198 -1,497 -2,077 -363 -1,271 -585 -464
Payment of Dividends		 -252 -428 -529 -550 -589 -231 -634 -771 -834 -831
Other Financing Activities, Net		 20 82 18 7.54 -19 294 645 567 428 84

Quarterly Cash Flow Statements for Gaming and Leisure Properties

This table details how cash moves in and out of Gaming and Leisure Properties' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Change in Cash & Equivalents		 53 180 -232 2.63 72 603 -472 -117 400 -32 -294
Net Cash From Operating Activities		 241 221 241 252 253 263 258 252 270 292 252
Net Cash From Continuing Operating Activities		 241 221 241 252 253 263 258 252 270 292 252
Net Income / (Loss) Continuing Operations		 226 200 189 160 189 217 180 214 190 224 170
Consolidated Net Income / (Loss)		 226 200 189 160 189 217 180 214 190 224 170
Provision For Loan Losses		 -0.02 -22 -5.65 28 1.61 -18 23 -3.79 28 -9.94 39
Depreciation Expense		 63 63 69 69 70 69 69 69 68 68 69
Amortization Expense		 2.35 2.38 2.50 2.41 2.41 2.55 2.68 2.69 -43 49 14
Non-Cash Adjustments to Reconcile Net Income		 -71 15 -5.72 -9.17 -9.52 7.94 -18 -22 29 -36 -6.48
Changes in Operating Assets and Liabilities, net		 21 -37 -7.46 1.49 -0.10 -16 1.44 -8.21 -0.94 -2.60 -34
Net Cash From Investing Activities		 -58 -7.53 -422 -24 -189 -16 -448 -156 -572 -429 534
Net Cash From Continuing Investing Activities		 -58 -7.53 -422 -24 -189 -16 -448 -156 -572 -429 534
Purchase of Property, Leasehold Improvements and Equipment		 -0.07 -24 -0.01 - - - -0.09 -0.46 - - -0.04
Purchase of Investment Securities		 -206 16 -422 -24 -189 32 -448 -158 -914 -389 -16
Sale of Property, Leasehold Improvements and Equipment		 149 - - - - - - - - -1.80 0.13
Sale and/or Maturity of Investments		 - - 0.00 - - - 0.00 - 341 - 550
Net Cash From Financing Activities		 -130 -33 -51 -226 7.85 355 -282 -213 702 105 -1,080
Net Cash From Continuing Financing Activities		 -130 -33 -51 -226 7.85 355 -282 -213 702 105 -1,080
Repayment of Debt		 -394 -0.04 -500 -60 -15 -10 -64 -0.04 -400 -0.04 -850
Payment of Dividends		 -182 -184 -255 -189 -192 -198 -207 -207 -209 -209 -209
Other Financing Activities, Net		 445 151 43 8.85 205 170 -12 -6.15 121 -19 -21

Annual Balance Sheets for Gaming and Leisure Properties

This table presents Gaming and Leisure Properties' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 2,448 7,369 7,247 8,577 8,434 9,034 10,690 10,930 11,807 13,076
Cash and Due from Banks		 42 37 29 - 27 486 725 239 684 463
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 2,220 4,449 4,410 8,106 8,033 8,442 8,629 8,542 9,004 9,241
Other Assets		 98 2,798 2,722 420 361 106 1,336 2,149 2,079 3,381
Total Liabilities & Shareholders' Equity		 2,448 7,369 7,247 8,577 8,434 9,034 10,690 10,930 11,807 13,076
Total Liabilities		 2,702 4,935 4,789 6,312 6,360 6,359 7,300 6,812 7,298 8,430
Accrued Interest Payable		 18 34 33 45 61 72 72 82 83 106
Long-Term Debt		 2,510 4,665 4,443 5,853 5,738 5,755 6,552 6,128 6,628 7,736
Other Long-Term Liabilities		 18 20 25 363 561 532 606 588 573 589
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -254 2,434 2,458 2,266 2,074 2,675 3,390 4,118 4,509 4,646
Total Preferred & Common Equity		 -254 2,434 2,458 2,266 2,074 2,675 3,185 3,778 4,157 4,269
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -254 2,434 2,458 2,266 2,074 2,675 3,189 3,785 4,165 4,269
Common Stock		 936 3,763 3,936 3,955 3,962 4,287 4,956 5,576 6,055 6,213
Retained Earnings		 -1,190 -1,329 -1,478 -1,689 -1,887 -1,612 -1,771 -1,798 -1,898 -1,944
Noncontrolling Interest		 - - - - - 0.00 205 340 352 377

Quarterly Balance Sheets for Gaming and Leisure Properties

This table presents Gaming and Leisure Properties' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025
Total Assets		 10,776 11,116 11,032 11,236 11,784 11,777 12,681 12,133
Cash and Due from Banks		 59 6.82 9.45 81 212 94 494 169
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 8,597 9,149 9,083 9,066 8,936 8,874 8,840 9,184
Other Assets		 2,119 1,960 1,939 2,050 2,584 2,718 3,347 2,780
Total Liabilities & Shareholders' Equity		 10,776 11,116 11,032 11,236 11,784 11,777 12,681 12,133
Total Liabilities		 6,828 6,998 6,929 6,925 7,286 7,272 8,056 7,538
Short-Term Debt		 6.94 6.93 5.08 14 4.69 4.46 - 4.60
Accrued Interest Payable		 87 78 81 78 87 82 96 73
Other Short-Term Payables		 5.28 1.94 3.80 5.53 1.76 3.62 - 2.23
Long-Term Debt		 6,126 6,291 6,249 6,246 6,630 6,633 7,413 6,889
Other Long-Term Liabilities		 603 619 591 581 562 549 548 569
Total Equity & Noncontrolling Interests		 3,947 4,118 4,103 4,310 4,498 4,505 4,625 4,595
Total Preferred & Common Equity		 3,607 3,765 3,751 3,959 4,127 4,134 4,255 4,215
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 3,607 3,765 3,751 3,959 4,127 4,134 4,255 4,215
Common Stock		 5,416 5,635 5,654 5,870 6,057 6,063 6,207 6,203
Retained Earnings		 -1,808 -1,870 -1,903 -1,912 -1,930 -1,928 -1,952 -1,988
Noncontrolling Interest		 340 353 352 352 371 371 370 379

Annual Metrics And Ratios for Gaming and Leisure Properties

This table displays calculated financial ratios and metrics derived from Gaming and Leisure Properties' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 -3.11% 44.03% 17.27% -16.78% 42.69% 1.99% 5.24% 11.22% 4.61% 6.24%
EBITDA Growth		 47.29% 60.40% 21.41% -31.67% 94.74% 5.75% 5.66% 17.08% 4.85% 4.08%
EBIT Growth		 78.86% 86.71% 25.99% -42.74% 106.90% 10.28% 6.40% 22.09% 3.99% 5.33%
NOPAT Growth		 80.09% 89.25% 25.93% -42.63% 107.39% 10.77% 1.81% 25.53% 6.23% 5.80%
Net Income Growth		 -7.70% -17.63% 260.65% -10.79% 15.13% 29.38% 5.61% 31.68% 7.41% 6.92%
EPS Growth		 -8.47% 48.15% 11.88% -11.73% 14.56% 27.07% -1.74% 19.47% 2.59% 3.61%
Operating Cash Flow Growth		 16.99% 60.90% 16.40% 9.31% 14.65% -42.95% 87.76% 14.48% 9.70% 6.28%
Free Cash Flow Firm Growth		 66.77% -1,228.29% 118.16% -210.43% 215.92% -83.49% -563.49% 197.34% -76.80% -162.78%
Invested Capital Growth		 -5.73% 214.55% -2.79% 17.65% -3.78% 7.90% 18.70% 2.47% 8.68% 11.11%
Revenue Q/Q Growth		 -3.09% 10.86% 0.20% -43.62% 821.17% -15.83% -8.62% 2.31% 2.20% 1.11%
EBITDA Q/Q Growth		 47.91% 10.04% 0.21% -57.55% 1,752.53% -13.10% -9.34% 3.13% 2.20% 4.07%
EBIT Q/Q Growth		 86.61% 13.04% 0.21% -67.31% 318.75% -16.76% -12.27% 4.28% 2.20% 0.82%
NOPAT Q/Q Growth		 90.80% 13.13% -0.03% -67.55% 389.26% 40.71% 47.66% 10.43% 1.69% 1.21%
Net Income Q/Q Growth		 -0.33% -53.18% 92.94% -12.23% 21.20% 12.22% 19.86% -7.65% 2.40% 0.79%
EPS Q/Q Growth		 -0.92% 19.40% -3.76% -12.71% 21.48% 10.58% -9.96% 10.66% 0.73% 0.35%
Operating Cash Flow Q/Q Growth		 0.19% 12.23% 0.11% 4.24% 4.22% -10.28% 9.58% 3.70% 4.38% 2.82%
Free Cash Flow Firm Q/Q Growth		 31.58% 0.44% 3.79% -565.08% 446.34% -62.93% -467.12% 242.19% -68.53% 68.76%
Invested Capital Q/Q Growth		 -2.08% -0.18% -0.60% 3.99% -0.55% 5.88% 15.81% 1.71% 5.42% 2.85%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 66.29% 73.83% 76.43% 62.75% 85.64% 88.80% 89.15% 93.85% 94.07% 92.16%
EBIT Margin		 44.76% 58.03% 62.34% 42.90% 62.20% 67.25% 67.99% 74.64% 74.19% 73.56%
Profit (Net Income) Margin		 22.28% 12.74% 39.18% 42.00% 33.89% 42.99% 43.14% 51.07% 52.44% 52.78%
Tax Burden Percent		 49.77% 21.96% 62.85% 98.38% 98.80% 99.24% 94.96% 97.63% 99.74% 99.74%
Interest Burden Percent		 100.00% 100.00% 100.00% 99.53% 55.15% 64.41% 66.82% 70.09% 70.87% 71.94%
Effective Tax Rate		 2.89% 1.57% 1.62% 1.44% 1.20% 0.76% 5.04% 2.37% 0.26% 0.26%
Return on Invested Capital (ROIC)		 10.75% 10.11% 8.51% 4.55% 8.90% 9.67% 8.67% 9.91% 9.96% 9.59%
ROIC Less NNEP Spread (ROIC-NNEP)		 5.95% -0.13% 3.79% 4.51% 3.41% 4.81% 4.38% 5.20% 5.10% 5.13%
Return on Net Nonoperating Assets (RNNOA)		 -70.37% -0.43% 7.05% 9.82% 9.12% 11.63% 8.94% 8.83% 7.55% 8.06%
Return on Equity (ROE)		 -59.62% 9.68% 15.56% 14.37% 18.01% 21.30% 17.61% 18.73% 17.51% 17.64%
Cash Return on Invested Capital (CROIC)		 16.65% -93.40% 11.33% -11.67% 12.75% 2.06% -8.43% 7.47% 1.64% -0.94%
Operating Return on Assets (OROA)		 10.35% 9.79% 8.29% 4.38% 8.43% 9.06% 8.54% 9.51% 9.40% 9.05%
Return on Assets (ROA)		 5.15% 2.15% 5.21% 4.29% 4.60% 5.79% 5.42% 6.51% 6.64% 6.49%
Return on Common Equity (ROCE)		 -59.62% 9.68% 15.56% 14.37% 18.01% 21.30% 17.03% 17.40% 16.14% 16.25%
Return on Equity Simple (ROE_SIMPLE)		 -50.54% 4.34% 15.48% 14.99% 18.84% 18.91% 16.77% 18.62% 18.17% 18.92%
Net Operating Profit after Tax (NOPAT)		 250 473 596 342 709 785 799 1,003 1,066 1,128
NOPAT Margin		 43.47% 57.12% 61.33% 42.28% 61.45% 66.74% 64.56% 72.87% 74.00% 73.69%
Net Nonoperating Expense Percent (NNEP)		 4.80% 10.24% 4.72% 0.04% 5.49% 4.86% 4.29% 4.71% 4.86% 4.45%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 55.24% 41.97% 37.66% 57.10% 37.80% 32.75% 32.01% 24.86% 25.81% 24.01%
Earnings before Interest and Taxes (EBIT)		 257 481 606 347 717 791 842 1,028 1,069 1,126
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 381 611 742 507 988 1,045 1,104 1,292 1,355 1,410
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 1.61 2.12 2.18 3.41 2.82 3.11 3.12 2.97 3.10
Price to Tangible Book Value (P/TBV)		 0.00 1.67 2.20 2.21 3.45 2.82 3.11 3.12 2.97 3.10
Price to Revenue (P/Rev)		 3.18 4.72 5.37 6.11 6.14 6.40 8.02 8.59 8.59 8.64
Price to Earnings (P/E)		 14.29 37.07 13.69 14.55 18.10 14.89 18.60 17.27 16.85 16.84
Dividend Yield		 13.71% 12.28% 10.20% 11.14% 8.31% 7.97% 6.96% 6.63% 6.26% 6.31%
Earnings Yield		 7.00% 2.70% 7.30% 6.87% 5.52% 6.71% 5.38% 5.79% 5.94% 5.94%
Enterprise Value to Invested Capital (EV/IC)		 1.91 1.20 1.39 1.33 1.64 1.52 1.60 1.76 1.68 1.69
Enterprise Value to Revenue (EV/Rev)		 7.48 10.31 9.91 13.35 11.09 10.88 12.95 13.12 12.96 13.63
Enterprise Value to EBITDA (EV/EBITDA)		 11.28 13.97 12.97 21.28 12.95 12.25 14.52 13.98 13.78 14.79
Enterprise Value to EBIT (EV/EBIT)		 16.70 17.77 15.90 31.13 17.82 16.18 19.04 17.57 17.47 18.54
Enterprise Value to NOPAT (EV/NOPAT)		 17.20 18.05 16.16 31.58 18.04 16.30 20.05 18.00 17.52 18.50
Enterprise Value to Operating Cash Flow (EV/OCF)		 13.45 16.60 16.08 16.49 17.04 29.90 19.94 19.63 18.50 19.45
Enterprise Value to Free Cash Flow (EV/FCFF)		 11.10 0.00 12.13 0.00 12.59 76.36 0.00 23.88 106.40 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 -9.90 1.92 1.81 2.58 2.77 2.15 1.95 1.49 1.47 1.67
Long-Term Debt to Equity		 -9.90 1.92 1.81 2.58 2.77 2.15 1.93 1.49 1.47 1.67
Financial Leverage		 -11.82 3.29 1.86 2.18 2.67 2.42 2.04 1.70 1.48 1.57
Leverage Ratio		 -11.57 4.50 2.99 3.35 3.92 3.68 3.25 2.88 2.64 2.72
Compound Leverage Factor		 -11.57 4.50 2.99 3.33 2.16 2.37 2.17 2.02 1.87 1.96
Debt to Total Capital		 111.23% 65.71% 64.38% 72.10% 73.45% 68.27% 66.12% 59.84% 59.54% 62.48%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.64% 0.06% 0.06% 0.00%
Long-Term Debt to Total Capital		 111.23% 65.71% 64.38% 72.10% 73.45% 68.27% 65.48% 59.77% 59.47% 62.48%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2.05% 3.32% 3.16% 3.04%
Common Equity to Total Capital		 -11.23% 34.29% 35.62% 27.90% 26.55% 31.73% 31.87% 36.92% 37.37% 34.48%
Debt to EBITDA		 6.59 7.63 5.98 11.54 5.81 5.51 5.99 4.75 4.90 5.49
Net Debt to EBITDA		 6.48 7.57 5.95 11.54 5.78 5.04 5.34 4.56 4.39 5.16
Long-Term Debt to EBITDA		 6.59 7.63 5.98 11.54 5.81 5.51 5.94 4.74 4.89 5.49
Debt to NOPAT		 10.04 9.86 7.46 17.13 8.10 7.33 8.28 6.11 6.22 6.86
Net Debt to NOPAT		 9.87 9.78 7.41 17.13 8.06 6.71 7.37 5.88 5.58 6.45
Long-Term Debt to NOPAT		 10.04 9.86 7.46 17.13 8.10 7.33 8.20 6.11 6.22 6.86
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 3.31% 7.11% 7.85% 7.88%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 387 -4,369 793 -876 1,016 168 -777 756 175 -110
Operating Cash Flow to CapEx		 1,701.19% 22,296.06% 25,784.28% 60,990.96% 26,634.79% 11,927.47% 5,696.92% 0.00% 2,127.82% 2,703.01%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 -3.54 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 2.64 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 2.64 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.23 0.17 0.13 0.10 0.14 0.13 0.13 0.13 0.13 0.12
Fixed Asset Turnover		 0.25 0.25 0.22 0.13 0.14 0.14 0.15 0.16 0.16 0.17
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 2,257 7,099 6,901 8,119 7,812 8,430 10,006 10,253 11,144 12,381
Invested Capital Turnover		 0.25 0.18 0.14 0.11 0.14 0.14 0.13 0.14 0.13 0.13
Increase / (Decrease) in Invested Capital		 -137 4,842 -198 1,218 -307 618 1,576 247 890 1,238
Enterprise Value (EV)		 4,299 8,541 9,626 10,793 12,788 12,800 16,028 18,059 18,674 20,865
Market Capitalization		 1,831 3,912 5,212 4,939 7,077 7,532 9,932 11,823 12,371 13,215
Book Value per Share		 ($2.20) $11.75 $11.56 $10.58 $9.66 $12.12 $13.38 $14.70 $15.60 $15.56
Tangible Book Value per Share		 ($2.94) $11.34 $11.16 $10.46 $9.54 $12.12 $13.38 $14.70 $15.60 $15.56
Total Capital		 2,257 7,099 6,901 8,119 7,812 8,430 10,006 10,253 11,144 12,381
Total Debt		 2,510 4,665 4,443 5,853 5,738 5,755 6,616 6,135 6,635 7,736
Total Long-Term Debt		 2,510 4,665 4,443 5,853 5,738 5,755 6,552 6,128 6,628 7,736
Net Debt		 2,468 4,628 4,414 5,853 5,711 5,268 5,891 5,896 5,951 7,273
Capital Expenditures (CapEx)		 19 2.31 2.32 1.07 2.82 3.59 14 -125 47 40
Net Nonoperating Expense (NNE)		 122 368 215 2.24 318 279 265 300 311 320
Net Nonoperating Obligations (NNO)		 2,510 4,665 4,443 5,853 5,738 5,755 6,616 6,135 6,635 7,736
Total Depreciation and Amortization (D&A)		 124 131 137 161 270 253 262 265 286 285
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.12 $1.62 $1.80 $1.59 $1.82 $2.31 $2.27 $2.71 $2.78 $2.87
Adjusted Weighted Average Basic Shares Outstanding		 116.69M 207.76M 213.22M 214.64M 215.10M 232.78M 247.54M 262.35M 271.50M 274.83M
Adjusted Diluted Earnings per Share		 $1.08 $1.60 $1.79 $1.58 $1.81 $2.30 $2.26 $2.70 $2.77 $2.87
Adjusted Weighted Average Diluted Shares Outstanding		 116.69M 207.76M 213.22M 214.64M 215.10M 232.78M 247.54M 262.35M 271.50M 274.83M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $1.59 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 116.69M 207.76M 213.22M 214.64M 215.10M 232.78M 247.54M 262.35M 271.50M 274.83M
Normalized Net Operating Profit after Tax (NOPAT)		 250 473 596 400 709 785 807 1,007 1,070 1,128
Normalized NOPAT Margin		 43.47% 57.12% 61.33% 49.53% 61.45% 66.74% 65.19% 73.10% 74.29% 73.69%
Pre Tax Income Margin		 44.76% 58.03% 62.34% 42.69% 34.30% 43.32% 45.43% 52.31% 52.58% 52.92%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 1.40 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 1.38 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 1.40 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 1.38 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 196.48% 405.90% 139.09% 162.12% 150.72% 45.58% 118.69% 109.61% 110.41% 102.86%
Augmented Payout Ratio		 196.48% 405.90% 139.09% 162.12% 150.72% 45.58% 118.69% 109.61% 110.41% 102.86%

Quarterly Metrics And Ratios for Gaming and Leisure Properties

This table displays calculated financial ratios and metrics derived from Gaming and Leisure Properties' official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 27.98% 10.16% 12.58% 9.95% -10.38% 9.87% 6.01% 6.74% 7.87% 4.40% 36.67%
EBITDA Growth		 31.61% 24.93% 26.13% 3.01% -11.18% 0.75% -2.58% 17.74% -13.36% 22.88% 42.59%
EBIT Growth		 41.08% 34.73% 33.28% 1.43% -15.51% -1.32% -3.26% 23.15% 0.71% 12.00% 51.43%
NOPAT Growth		 37.14% 52.90% 33.14% 2.04% -10.04% 7.26% -3.34% 22.94% 1.15% 4.38% 51.46%
Net Income Growth		 51.76% -22.59% 55.04% 2.79% -16.32% 8.85% -4.85% 33.89% 0.42% 2.92% -5.11%
EPS Growth		 34.92% 52.00% 45.83% -3.28% -17.65% 2.63% -8.57% 30.51% -4.29% 1.28% -6.25%
Operating Cash Flow Growth		 12.93% 17.50% 3.43% 11.83% 5.09% 19.19% 6.92% 0.06% 6.77% 11.19% -2.09%
Free Cash Flow Firm Growth		 -147.72% 101.97% 91.30% 89.00% 80.51% -2,264.58% -270.97% -249.04% -436.90% -56.15% 82.14%
Invested Capital Growth		 16.67% 2.47% 3.88% 3.80% 4.87% 8.68% 6.87% 7.58% 13.88% 11.11% 3.19%
Revenue Q/Q Growth		 23.72% -16.16% 4.75% 0.54% 0.84% 2.78% 1.88% 1.24% 1.91% -0.53% 2.46%
EBITDA Q/Q Growth		 27.42% -11.03% 7.47% -8.27% 9.87% 0.92% -10.33% 10.86% -19.16% 43.14% -18.91%
EBIT Q/Q Growth		 35.19% -13.26% 7.04% -10.52% 12.60% 1.31% -12.76% 13.91% -7.92% 12.67% -14.98%
NOPAT Q/Q Growth		 27.43% -7.70% -4.05% -10.30% 12.34% 10.06% -12.68% 14.09% -7.57% 13.56% -16.08%
Net Income Q/Q Growth		 45.21% -11.77% -5.47% -15.12% 18.22% 14.76% -17.37% 19.43% -11.34% 17.63% -23.82%
EPS Q/Q Growth		 39.34% -10.59% -7.89% -15.71% 18.64% 11.43% -17.95% 20.31% -12.99% 17.91% -24.05%
Operating Cash Flow Q/Q Growth		 6.98% -8.44% 9.30% 4.46% 0.53% 3.84% -1.95% -2.24% 7.27% 8.14% -13.65%
Free Cash Flow Firm Q/Q Growth		 10.89% 102.41% -516.84% -13.95% -57.88% -167.44% 22.97% -7.21% -142.85% 22.22% 89.52%
Invested Capital Q/Q Growth		 1.03% 1.71% 1.59% -0.57% 2.07% 5.42% -0.10% 0.09% 8.04% 2.85% -7.21%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 95.47% 101.32% 95.20% 86.85% 94.63% 92.91% 87.49% 95.80% 76.00% 109.36% 86.55%
EBIT Margin		 79.14% 81.89% 75.08% 66.82% 74.62% 73.55% 68.52% 77.09% 69.66% 78.90% 65.47%
Profit (Net Income) Margin		 56.38% 59.33% 53.20% 44.91% 52.65% 58.78% 47.75% 56.33% 49.01% 57.95% 43.09%
Tax Burden Percent		 93.68% 99.69% 99.73% 99.98% 99.75% 99.56% 99.65% 99.81% 99.73% 99.75% 99.67%
Interest Burden Percent		 76.04% 72.68% 71.05% 67.22% 70.74% 80.28% 69.94% 73.21% 70.54% 73.63% 66.03%
Effective Tax Rate		 6.32% 0.31% 0.27% 0.03% 0.25% 0.44% 0.35% 0.19% 0.27% 0.25% 0.33%
Return on Invested Capital (ROIC)		 10.66% 11.10% 10.39% 9.53% 10.16% 10.73% 9.26% 10.63% 9.34% 10.37% 9.44%
ROIC Less NNEP Spread (ROIC-NNEP)		 9.46% 9.92% 9.20% 8.31% 8.90% 9.52% 8.07% 9.41% 8.17% 9.20% 8.15%
Return on Net Nonoperating Assets (RNNOA)		 16.49% 16.85% 15.59% 14.07% 13.35% 14.09% 12.11% 14.10% 12.50% 14.44% 12.12%
Return on Equity (ROE)		 27.15% 27.94% 25.98% 23.61% 23.51% 24.82% 21.37% 24.73% 21.84% 24.81% 21.56%
Cash Return on Invested Capital (CROIC)		 -5.68% 7.47% 6.68% 6.86% 5.40% 1.64% 3.16% 3.03% -3.12% -0.94% 7.60%
Operating Return on Assets (OROA)		 10.62% 10.43% 9.76% 8.94% 9.56% 9.32% 8.74% 10.04% 8.82% 9.71% 8.96%
Return on Assets (ROA)		 7.57% 7.56% 6.91% 6.01% 6.74% 7.45% 6.09% 7.34% 6.20% 7.13% 5.90%
Return on Common Equity (ROCE)		 25.80% 25.96% 23.61% 21.45% 21.54% 22.87% 19.57% 22.65% 20.08% 22.85% 19.78%
Return on Equity Simple (ROE_SIMPLE)		 21.11% 0.00% 20.46% 20.65% 18.64% 0.00% 18.08% 19.36% 18.83% 0.00% 18.94%
Net Operating Profit after Tax (NOPAT)		 297 275 266 238 268 295 257 293 271 307 258
NOPAT Margin		 74.14% 81.63% 74.88% 66.80% 74.43% 79.69% 68.28% 76.94% 69.79% 79.68% 65.25%
Net Nonoperating Expense Percent (NNEP)		 1.20% 1.18% 1.20% 1.22% 1.26% 1.21% 1.19% 1.22% 1.18% 1.17% 1.30%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 20.86% 24.64% 26.51% 25.31% 24.94% 26.45% 25.29% 23.90% 23.20% 23.67% 24.61%
Earnings before Interest and Taxes (EBIT)		 318 275 266 238 268 272 258 293 270 304 259
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 383 341 338 310 340 343 329 365 295 422 342
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.81 3.12 3.35 3.18 2.84 2.97 2.93 2.97 3.32 3.10 3.32
Price to Tangible Book Value (P/TBV)		 2.81 3.12 3.35 3.18 2.84 2.97 2.93 2.97 3.32 3.10 3.32
Price to Revenue (P/Rev)		 7.52 8.59 8.90 8.22 7.96 8.59 8.28 8.26 9.33 8.64 8.55
Price to Earnings (P/E)		 16.59 17.27 16.86 15.83 15.65 16.85 16.67 15.78 18.13 16.84 18.04
Dividend Yield		 7.60% 6.63% 5.89% 6.27% 6.73% 6.26% 6.49% 6.59% 5.85% 6.31% 5.97%
Earnings Yield		 6.03% 5.79% 5.93% 6.32% 6.39% 5.94% 6.00% 6.34% 5.52% 5.94% 5.54%
Enterprise Value to Invested Capital (EV/IC)		 1.64 1.76 1.85 1.79 1.68 1.68 1.70 1.72 1.78 1.69 1.84
Enterprise Value to Revenue (EV/Rev)		 12.29 13.12 13.58 12.76 12.60 12.96 12.93 12.92 14.14 13.63 12.89
Enterprise Value to EBITDA (EV/EBITDA)		 13.20 13.98 14.46 13.55 13.39 13.78 14.03 13.70 15.80 14.79 13.95
Enterprise Value to EBIT (EV/EBIT)		 16.78 17.57 18.11 16.94 16.98 17.47 17.83 17.21 19.17 18.54 17.38
Enterprise Value to NOPAT (EV/NOPAT)		 18.20 18.00 17.97 17.20 16.94 17.52 17.88 17.27 19.21 18.50 17.35
Enterprise Value to Operating Cash Flow (EV/OCF)		 18.64 19.63 20.76 19.40 18.36 18.50 18.41 18.70 20.52 19.45 19.76
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 23.88 28.22 26.55 31.83 106.40 55.49 58.91 0.00 0.00 24.53
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.55 1.49 1.53 1.52 1.45 1.47 1.48 1.47 1.60 1.67 1.50
Long-Term Debt to Equity		 1.55 1.49 1.53 1.52 1.45 1.47 1.47 1.47 1.60 1.67 1.50
Financial Leverage		 1.74 1.70 1.69 1.69 1.50 1.48 1.50 1.50 1.53 1.57 1.49
Leverage Ratio		 2.94 2.88 2.88 2.87 2.67 2.64 2.66 2.65 2.68 2.72 2.63
Compound Leverage Factor		 2.24 2.09 2.04 1.93 1.89 2.12 1.86 1.94 1.89 2.00 1.74
Debt to Total Capital		 60.84% 59.84% 60.47% 60.38% 59.23% 59.54% 59.60% 59.57% 61.58% 62.48% 60.01%
Short-Term Debt to Total Capital		 0.07% 0.06% 0.07% 0.05% 0.14% 0.06% 0.04% 0.04% 0.00% 0.00% 0.04%
Long-Term Debt to Total Capital		 60.77% 59.77% 60.40% 60.34% 59.09% 59.47% 59.56% 59.53% 61.58% 62.48% 59.97%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 3.37% 3.32% 3.39% 3.40% 3.33% 3.16% 3.33% 3.33% 3.07% 3.04% 3.30%
Common Equity to Total Capital		 35.79% 36.92% 36.15% 36.22% 37.45% 37.37% 37.07% 37.10% 35.35% 34.48% 36.69%
Debt to EBITDA		 4.89 4.75 4.73 4.58 4.72 4.90 4.93 4.74 5.47 5.49 4.56
Net Debt to EBITDA		 4.85 4.56 4.72 4.57 4.66 4.39 4.77 4.67 5.11 5.16 4.45
Long-Term Debt to EBITDA		 4.89 4.74 4.72 4.57 4.71 4.89 4.93 4.74 5.47 5.49 4.55
Debt to NOPAT		 6.75 6.11 5.87 5.81 5.97 6.22 6.28 5.97 6.65 6.86 5.67
Net Debt to NOPAT		 6.68 5.88 5.87 5.80 5.90 5.58 6.08 5.89 6.21 6.45 5.53
Long-Term Debt to NOPAT		 6.74 6.11 5.87 5.80 5.96 6.22 6.28 5.97 6.65 6.86 5.67
Noncontrolling Interest Sharing Ratio		 4.98% 7.11% 9.13% 9.15% 8.37% 7.85% 8.40% 8.39% 8.08% 7.88% 8.25%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -1,143 28 -124 -141 -223 -596 -459 -493 -1,196 -930 -98
Operating Cash Flow to CapEx		 0.00% 922.41% 3,014,787.50% 0.00% 0.00% 0.00% 286,524.44% 54,563.85% 0.00% 16,263.24% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.13 0.13 0.13 0.13 0.13 0.13 0.13 0.13 0.13 0.12 0.14
Fixed Asset Turnover		 0.16 0.16 0.16 0.16 0.16 0.16 0.16 0.17 0.17 0.17 0.18
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 10,080 10,253 10,417 10,357 10,571 11,144 11,133 11,142 12,038 12,381 11,488
Invested Capital Turnover		 0.14 0.14 0.14 0.14 0.14 0.13 0.14 0.14 0.13 0.13 0.14
Increase / (Decrease) in Invested Capital		 1,441 247 389 379 490 890 716 785 1,467 1,238 355
Enterprise Value (EV)		 16,535 18,059 19,268 18,519 17,754 18,674 18,887 19,188 21,406 20,865 21,093
Market Capitalization		 10,121 11,823 12,624 11,922 11,223 12,371 12,093 12,275 14,117 13,215 13,989
Book Value per Share		 $14.12 $14.70 $14.35 $14.30 $15.07 $15.60 $15.20 $15.23 $15.51 $15.56 $15.34
Tangible Book Value per Share		 $14.12 $14.70 $14.35 $14.30 $15.07 $15.60 $15.20 $15.23 $15.51 $15.56 $15.34
Total Capital		 10,080 10,253 10,417 10,357 10,571 11,144 11,133 11,142 12,038 12,381 11,488
Total Debt		 6,133 6,135 6,298 6,254 6,261 6,635 6,635 6,637 7,413 7,736 6,894
Total Long-Term Debt		 6,126 6,128 6,291 6,249 6,246 6,628 6,630 6,633 7,413 7,736 6,889
Net Debt		 6,074 5,896 6,292 6,244 6,179 5,951 6,423 6,543 6,919 7,273 6,725
Capital Expenditures (CapEx)		 -149 24 0.01 0.00 0.00 0.00 0.09 0.46 0.00 1.80 -0.09
Net Nonoperating Expense (NNE)		 71 75 77 78 78 77 77 78 81 84 88
Net Nonoperating Obligations (NNO)		 6,133 6,135 6,298 6,254 6,261 6,635 6,635 6,637 7,413 7,736 6,894
Total Depreciation and Amortization (D&A)		 66 65 71 71 72 72 71 71 25 118 83
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.86 $0.76 $0.70 $0.59 $0.70 $0.79 $0.64 $0.77 $0.67 $0.79 $0.60
Adjusted Weighted Average Basic Shares Outstanding		 257.52M 262.35M 262.36M 262.64M 267.02M 271.50M 271.50M 274.39M 274.39M 274.83M 274.83M
Adjusted Diluted Earnings per Share		 $0.85 $0.76 $0.70 $0.59 $0.70 $0.78 $0.64 $0.77 $0.67 $0.79 $0.60
Adjusted Weighted Average Diluted Shares Outstanding		 257.52M 262.35M 262.36M 262.64M 267.02M 271.50M 271.50M 274.39M 274.39M 274.83M 274.83M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 257.52M 262.35M 262.36M 262.64M 267.02M 271.50M 271.50M 274.39M 274.39M 274.83M 274.83M
Normalized Net Operating Profit after Tax (NOPAT)		 297 275 266 238 265 295 257 293 271 307 258
Normalized NOPAT Margin		 74.14% 81.63% 74.88% 66.80% 73.82% 79.69% 68.28% 76.94% 69.79% 79.68% 65.25%
Pre Tax Income Margin		 60.18% 59.52% 53.34% 44.92% 52.78% 59.04% 47.92% 56.44% 49.14% 58.10% 43.23%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 98.83% 109.61% 103.24% 104.55% 111.21% 110.41% 105.30% 100.32% 102.27% 102.86% 104.35%
Augmented Payout Ratio		 98.83% 109.61% 103.24% 104.55% 111.21% 110.41% 105.30% 100.32% 102.27% 102.86% 104.35%

Key Financial Trends

Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) has shown steady financial performance across recent quarters, highlighted by consistent net income and significant cash flow operations. Analyzing key metrics from Q3 2022 through Q1 2025 reveals a stable business model with healthy revenue, solid cash generation, and active debt management.

  • Net income attributable to common shareholders remained robust, generally ranging from approximately $155 million in Q2 2023 up to around $217 million in Q4 2023 and maintaining above $165 million in Q1 2025, indicating consistent profitability.
  • Total revenue has grown steadily over the period, from $356 million in Q2 2023 to $395 million in Q1 2025, driven mainly by stable non-interest income streams such as other service charges and other non-interest income totaling around $380 million to $395 million quarterly.
  • Operating cash flows have been strong, with net cash from operating activities exceeding $240 million most quarters, peaking at approximately $292 million in Q4 2024 and maintaining healthy cash flow in Q1 2025 at $252 million, supporting operational resilience.
  • Total assets have remained stable near $12 billion, with premises and equipment net carrying about $9 billion, reflecting asset stability important for a real estate investment trust (REIT).
  • The company has actively managed its debt, with repayments of long-term debt of hundreds of millions in multiple quarters, helping reduce leverage from about $7.4 billion in Q3 2024 to $6.9 billion in Q1 2025, indicating a focus on improving financial health.
  • GLPI continues to pay consistent and attractive dividends to common shareholders, with dividends per share generally increasing from $0.69 in Q3 2022 to $0.76 by Q1 2025, supporting shareholder returns but requiring ongoing cash outflows.
  • Depreciation expenses are steady around $60-$65 million per quarter, reflecting typical wear and tear on real estate assets but having no direct cash impact.
  • Nonoperating income/(expense), net remains a consistent negative factor ranging from about -$76 million to nearly -$88 million per quarter, which lowers pre-tax income and may indicate interest or financing costs pressure.
  • Provision for credit losses has been volatile, swinging from positive provisions (up to $39 million expense in Q1 2025) to negative figures (recoveries) in other periods, adding some earnings unpredictability.
  • Cash and equivalents have fluctuated significantly, peaking at nearly $494 million in Q3 2024 but dropping to about $169 million in Q1 2025, potentially reflecting timing of transactions and investments needing monitoring for liquidity risk.

Overall, GLPI exhibits a stable earnings base with strong cash flow generation and disciplined balance sheet management. The main challenges are the persistent non-operating expenses and volatile provisions for credit losses, which slightly pressure net income. However, steady dividend payments and asset stability position the company well within its REIT sector.

08/15/25 11:39 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Gaming and Leisure Properties' Financials

When does Gaming and Leisure Properties' fiscal year end?

According to the most recent income statement we have on file, Gaming and Leisure Properties' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Gaming and Leisure Properties' net income changed over the last 9 years?

Gaming and Leisure Properties' net income appears to be on an upward trend, with a most recent value of $807.65 million in 2024, rising from $128.12 million in 2015. The previous period was $755.37 million in 2023. See Gaming and Leisure Properties' forecast for analyst expectations on what’s next for the company.

How has Gaming and Leisure Properties' revenue changed over the last 9 years?

Over the last 9 years, Gaming and Leisure Properties' total revenue changed from $575.05 million in 2015 to $1.53 billion in 2024, a change of 166.1%.

How much debt does Gaming and Leisure Properties have?

Gaming and Leisure Properties' total liabilities were at $8.43 billion at the end of 2024, a 15.5% increase from 2023, and a 212.0% increase since 2015.

How much cash does Gaming and Leisure Properties have?

In the past 9 years, Gaming and Leisure Properties' cash and equivalents has ranged from $0.00 in 2018 to $724.60 million in 2021, and is currently $462.63 million as of their latest financial filing in 2024.

How has Gaming and Leisure Properties' book value per share changed over the last 9 years?

Over the last 9 years, Gaming and Leisure Properties' book value per share changed from -2.20 in 2015 to 15.56 in 2024, a change of -806.8%.


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This page (NASDAQ:GLPI) was last updated on 8/15/2025 by MarketBeat.com Staff
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