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Gaming and Leisure Properties (GLPI) Financials

Gaming and Leisure Properties logo
$42.12 -0.13 (-0.31%)
Closing price 04:00 PM Eastern
Extended Trading
$42.59 +0.47 (+1.11%)
As of 05:23 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. 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 2025
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 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 128 106 381 340 391 506 534 685 734 785 825
Consolidated Net Income / (Loss)		 128 106 381 340 391 506 534 703 755 808 850
Net Income / (Loss) Continuing Operations		 128 289 381 340 391 506 534 703 755 808 850
Total Pre-Tax Income 		257 481 606 345 396 510 562 720 757 810 853
Total Revenue		 575 828 971 808 1,153 1,176 1,238 1,377 1,440 1,535 1,595
Net Interest Income / (Expense)		 0.00 0.00 0.00 -248 29 0.00 0.00 0.00 1.04 10 16
Total Interest Income		 0.00 0.00 0.00 0.00 29 0.00 0.00 0.00 1.04 10 16
Loans and Leases Interest Income		 - - - - 29 - 0.00 - 1.04 10 16
Total Interest Expense		 0.00 0.00 0.00 248 0.00 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 1,525 1,579
Net Realized & Unrealized Capital Gains on Investments		 - - - 0.31 - 23 22 65 0.02 3.79 0.13
Other Non-Interest Income		 422 828 971 1,049 1,125 1,134 1,216 1,312 1,439 1,521 1,579
Total Non-Interest Expense		 318 348 366 462 436 385 396 342 372 405 393
Other Operating Expenses		 208 238 252 265 196 154 152 100 105 107 119
Depreciation Expense		 110 110 113 137 240 231 236 239 263 260 266
Impairment Charge		 - 0.00 0.00 59 - 0.00 0.00 3.30 -2.19 0.00 0.00
Other Special Charges		 - - - - - - 8.23 - 6.46 37 8.66
Nonoperating Income / (Expense), net		 - - - -1.65 -322 -282 -279 -307 -311 -321 -349
Income Tax Expense		 7.44 7.55 9.79 4.96 4.76 3.88 28 17 2.00 2.13 2.23
Net Income / (Loss) Attributable to Noncontrolling Interest		 - - - - 0.00 0.00 0.04 19 21 23 25
Basic Earnings per Share		 $1.12 $1.62 $1.80 $1.59 $1.82 $2.31 $2.27 $2.71 $2.78 $2.87 $2.95
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 283.22M
Diluted Earnings per Share		 $1.08 $1.60 $1.79 $1.58 $1.81 $2.30 $2.26 $2.70 $2.77 $2.87 $2.95
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 283.22M
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 283.22M
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 $3.10

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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 211 174 208 185 217 165 151 241 267 232 228
Consolidated Net Income / (Loss)		 217 180 214 190 224 170 156 248 275 239 235
Net Income / (Loss) Continuing Operations		 217 180 214 190 224 170 156 248 275 239 235
Total Pre-Tax Income 		218 180 215 191 224 171 157 249 276 240 236
Total Revenue		 370 289 381 388 386 395 395 398 407 420 429
Net Interest Income / (Expense)		 1.04 -87 1.84 3.35 - 3.46 3.66 4.02 8.35 6.92 7.62
Total Interest Income		 1.04 0.00 1.84 3.35 - 3.46 3.66 4.02 8.35 6.92 7.62
Loans and Leases Interest Income		 - - 1.84 3.35 - 3.46 3.66 4.02 - 6.92 7.62
Total Interest Expense		 - 87 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Non-Interest Income		 369 376 379 385 386 392 391 394 399 413 422
Other Service Charges		 - 44 46 48 -127 48 48 48 - 53 53
Net Realized & Unrealized Capital Gains on Investments		 0.56 0.00 0.00 3.79 - 0.13 0.00 0.00 - 0.00 -1.17
Other Non-Interest Income		 481 332 333 333 513 344 343 346 542 360 370
Provision for Credit Losses		 - 23 -3.79 28 -9.94 39 54 -37 - -10 2.98
Total Non-Interest Expense		 98 95 91 90 91 97 99 98 99 97 94
Other Operating Expenses		 26 30 26 25 27 32 30 30 26 32 27
Depreciation Expense		 66 65 65 65 65 65 69 67 64 65 67
Nonoperating Income / (Expense), net		 -78 9.23 -79 -81 -84 -88 -85 -88 -87 -93 -97
Income Tax Expense		 0.96 0.64 0.41 0.52 0.57 0.56 0.55 0.56 0.56 0.56 0.60
Net Income / (Loss) Attributable to Noncontrolling Interest		 5.96 5.06 6.16 5.41 6.40 5.17 4.73 7.29 8.06 7.57 6.53
Basic Earnings per Share		 $0.79 $0.64 $0.77 $0.67 $0.79 $0.60 $0.55 $0.85 $0.95 $0.82 $0.80
Weighted Average Basic Shares Outstanding		 271.50M 271.50M 274.39M 274.39M 274.83M 274.83M 283.01M 283.01M 283.22M 283.22M 290.92M
Diluted Earnings per Share		 $0.78 $0.64 $0.77 $0.67 $0.79 $0.60 $0.54 $0.85 $0.96 $0.82 $0.80
Weighted Average Diluted Shares Outstanding		 271.50M 271.50M 274.39M 274.39M 274.83M 274.83M 283.01M 283.01M 283.22M 283.22M 290.92M
Weighted Average Basic & Diluted Shares Outstanding		 271.50M 271.50M 274.39M 274.39M 274.83M 274.83M 283.01M 283.01M 283.22M 283.22M 290.92M

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 2025
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 12/31/2025
Net Change in Cash & Equivalents		 5.90 -5.32 -7.50 -6.54 1.04 482 238 -486 445 -221 -238
Net Cash From Operating Activities		 320 514 599 654 750 428 804 920 1,009 1,073 1,129
Net Cash From Continuing Operating Activities		 320 514 599 654 750 406 804 920 1,009 1,073 1,129
Net Income / (Loss) Continuing Operations		 128 289 381 340 391 506 534 703 755 808 850
Consolidated Net Income / (Loss)		 128 289 381 340 391 506 534 703 755 808 850
Provision For Loan Losses		 - - - - 13 0.00 8.23 6.90 6.46 37 8.66
Depreciation Expense		 110 116 124 148 259 243 252 255 276 273 283
Amortization Expense		 14 15 13 12 11 11 9.93 9.98 9.86 0.39 24
Non-Cash Adjustments to Reconcile Net Income		 72 75 82 136 71 -336 -3.59 -46 -39 -64 -25
Changes in Operating Assets and Liabilities, net		 -4.24 19 -0.32 18 4.87 -18 3.08 -8.72 0.32 18 -12
Net Cash From Investing Activities		 -14 -3,219 0.70 -1,510 -2.82 -9.49 -1,031 -354 -651 -1,606 -309
Net Cash From Continuing Investing Activities		 -14 -3,219 0.70 -1,510 -2.82 -9.49 -1,031 -354 -651 -1,606 -309
Purchase of Property, Leasehold Improvements and Equipment		 -19 -3.44 -3.26 -4.28 -3.02 -3.60 -16 -24 -47 -40 -304
Purchase of Investment Securities		 0.00 -3,268 -83 -1,547 0.00 -5.90 -1,080 -479 -603 -1,909 -554
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 0.13
Divestitures		 - - - - 0.00 0.00 59 0.00 0.00 1.80 0.00
Sale and/or Maturity of Investments		 4.65 52 86 38 - - - 0.00 0.00 341 550
Net Cash From Financing Activities		 -300 2,699 -607 852 -746 63 443 -1,051 86 312 -1,059
Net Cash From Continuing Financing Activities		 -300 2,699 -607 852 -746 63 443 -1,051 86 312 -1,059
Issuance of Debt		 0.00 2,552 100 2,593 1,359 2,076 795 424 1,078 1,522 1,292
Repayment of Debt		 -68 -377 -335 -1,198 -1,497 -2,077 -363 -1,271 -585 -464 -1,826
Payment of Dividends		 -252 -428 -529 -550 -589 -231 -634 -771 -834 -831 -872
Other Financing Activities, Net		 20 82 18 7.54 -19 294 645 567 428 84 347

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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026

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 2025
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 12/31/2025
Total Assets		 2,448 7,369 7,247 8,577 8,434 9,034 10,690 10,930 11,807 13,076 12,910
Cash and Due from Banks		 42 37 29 - 27 486 725 239 684 463 224
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 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 9,546
Other Assets		 98 2,798 2,722 420 361 106 1,336 2,149 2,079 3,373 3,139
Total Liabilities & Shareholders' Equity		 2,448 7,369 7,247 8,577 8,434 9,034 10,690 10,930 11,807 13,076 12,910
Total Liabilities		 2,702 4,935 4,789 6,312 6,360 6,359 7,300 6,812 7,298 8,430 7,901
Short-Term Debt		 - - - - - - 64 6.56 7.01 5.80 6.64
Accrued Interest Payable		 18 34 33 45 61 72 72 82 83 106 106
Other Short-Term Payables		 156 217 287 50 - - 6.80 6.74 7.45 7.15 10
Long-Term Debt		 2,510 4,665 4,443 5,853 5,738 5,755 6,552 6,128 6,628 7,736 7,204
Other Long-Term Liabilities		 18 20 25 363 561 532 606 588 573 576 575
Total Equity & Noncontrolling Interests		 -254 2,434 2,458 2,266 2,074 2,675 3,390 4,118 4,509 4,646 5,008
Total Preferred & Common Equity		 -254 2,434 2,458 2,266 2,074 2,675 3,185 3,778 4,157 4,269 4,626
Preferred Stock		 0.00 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 4,277 4,626
Common Stock		 936 3,763 3,936 3,955 3,962 4,287 4,956 5,576 6,055 6,213 6,616
Retained Earnings		 -1,190 -1,329 -1,478 -1,689 -1,887 -1,612 -1,771 -1,798 -1,898 -1,944 -1,991
Accumulated Other Comprehensive Income / (Loss)		 - - - - - - - - - 0.00 0.90
Noncontrolling Interest		 - - - - - 0.00 205 340 352 377 382

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 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 11,116 11,032 11,236 11,784 11,777 12,681 12,133 12,492 12,787 13,765 14,155
Cash and Due from Banks		 6.82 9.45 81 212 94 494 169 604 752 275 319
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 0.00
Premises and Equipment, Net		 9,149 9,083 9,066 8,936 8,874 8,840 9,184 9,136 9,218 10,292 10,620
Other Assets		 1,960 1,939 2,050 2,584 2,718 3,347 2,780 2,751 2,817 3,199 3,216
Total Liabilities & Shareholders' Equity		 11,116 11,032 11,236 11,784 11,777 12,681 12,133 12,492 12,787 13,765 14,155
Total Liabilities		 6,998 6,929 6,925 7,286 7,272 8,056 7,538 7,559 7,831 8,729 8,774
Short-Term Debt		 6.93 5.08 14 4.69 4.46 - 4.60 5.56 6.70 6.85 8.11
Accrued Interest Payable		 78 81 78 87 82 96 73 94 55 81 117
Other Short-Term Payables		 1.94 3.80 5.53 1.76 3.62 - 2.23 4.43 8.45 2.98 4.79
Long-Term Debt		 6,291 6,249 6,246 6,630 6,633 7,413 6,889 6,892 7,201 8,075 8,078
Other Long-Term Liabilities		 619 591 581 562 549 548 569 563 559 562 566
Total Equity & Noncontrolling Interests		 4,118 4,103 4,310 4,498 4,505 4,625 4,595 4,933 4,956 5,037 5,381
Total Preferred & Common Equity		 3,765 3,751 3,959 4,127 4,134 4,255 4,215 4,555 4,576 4,635 4,983
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 3,765 3,751 3,959 4,127 4,134 4,255 4,215 4,555 4,576 4,643 4,983
Common Stock		 5,635 5,654 5,870 6,057 6,063 6,207 6,203 6,611 6,613 6,614 6,973
Retained Earnings		 -1,870 -1,903 -1,912 -1,930 -1,928 -1,952 -1,988 -2,057 -2,037 -1,980 -1,990
Accumulated Other Comprehensive Income / (Loss)		 - - - - - - - 0.84 0.93 0.88 0.86
Noncontrolling Interest		 353 352 352 371 371 370 379 378 380 402 398

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 2025
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 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
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 $2.95
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 283.22M
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 $2.95
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 283.22M
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 $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 283.22M
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 283,221,841.00 283,221,841.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 283,221,841.00 283,221,841.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.85 0.83
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 9.87% 6.01% 6.74% 7.87% 4.40% 36.67% 3.74% 2.51% - 0.00% 8.73%
EBITDA Growth		 0.75% -2.58% 17.74% -13.36% 22.88% 42.59% -11.47% 19.95% - 16.42% 28.16%
EBIT Growth		 -1.32% -3.26% 23.15% 0.71% 12.00% 51.43% -17.51% 24.78% - 28.79% 37.32%
NOPAT Growth		 7.26% -3.34% 22.94% 1.15% 4.38% 51.46% -17.63% 24.27% - 28.91% 37.44%
Net Income Growth		 8.85% -4.85% 33.89% 0.42% 2.92% -5.11% -27.17% 30.71% - 0.00% 50.45%
EPS Growth		 2.63% -8.57% 30.51% -4.29% 1.28% -6.25% -29.87% 26.87% - 0.00% 48.15%
Operating Cash Flow Growth		 19.19% 6.92% 0.06% 6.77% 11.19% -2.09% 16.38% -11.13% - 0.00% 0.00%
Free Cash Flow Firm Growth		 -2,264.58% -270.97% -249.04% -436.90% -56.15% 82.14% 9.10% 117.59% - -1,231.17% -191.37%
Invested Capital Growth		 8.68% 6.87% 7.58% 13.88% 11.11% 3.19% 6.18% 1.05% - 14.19% 13.83%
Revenue Q/Q Growth		 2.78% 1.88% 1.24% 1.91% -0.53% 2.46% -0.12% 0.69% - 3.18% 2.23%
EBITDA Q/Q Growth		 0.92% -10.33% 10.86% -19.16% 43.14% -18.91% -6.84% 29.34% - 4.97% 0.15%
EBIT Q/Q Growth		 1.31% -12.76% 13.91% -7.92% 12.67% -14.98% -6.48% 39.29% - 8.31% -0.29%
NOPAT Q/Q Growth		 10.06% -12.68% 14.09% -7.57% 13.56% -16.08% -6.50% 39.46% - -8.30% -0.31%
Net Income Q/Q Growth		 14.76% -17.37% 19.43% -11.34% 17.63% -23.82% -8.33% 59.11% - -13.06% -1.86%
EPS Q/Q Growth		 11.43% -17.95% 20.31% -12.99% 17.91% -24.05% -10.00% 57.41% - -14.58% -2.44%
Operating Cash Flow Q/Q Growth		 3.84% -1.95% -2.24% 7.27% 8.14% -13.65% 16.19% -18.09% - 0.00% 0.00%
Free Cash Flow Firm Q/Q Growth		 -167.44% 22.97% -7.21% -142.85% 22.22% 89.52% -359.20% 146.99% - -344.33% -0.51%
Invested Capital Q/Q Growth		 5.42% -0.10% 0.09% 8.04% 2.85% -7.21% 2.99% 2.81% - 7.37% 2.66%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 92.91% 87.49% 95.80% 76.00% 109.36% 86.55% 80.73% 103.70% - 94.86% 92.93%
EBIT Margin		 73.55% 68.52% 77.09% 69.66% 78.90% 65.47% 61.30% 84.80% - 79.37% 77.42%
Profit (Net Income) Margin		 58.78% 47.75% 56.33% 49.01% 57.95% 43.09% 39.55% 62.49% - 57.00% 54.72%
Tax Burden Percent		 99.56% 99.65% 99.81% 99.73% 99.75% 99.67% 99.65% 99.78% - 99.77% 99.74%
Interest Burden Percent		 80.28% 69.94% 73.21% 70.54% 73.63% 66.03% 64.74% 73.86% - 71.99% 70.86%
Effective Tax Rate		 0.44% 0.35% 0.19% 0.27% 0.25% 0.33% 0.35% 0.22% - 0.23% 0.26%
Return on Invested Capital (ROIC)		 10.73% 9.26% 10.63% 9.34% 10.37% 9.44% 8.78% 11.61% - 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 9.52% 8.07% 9.41% 8.17% 9.20% 8.15% 7.52% 10.41% - 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 14.09% 12.11% 14.10% 12.50% 14.44% 12.12% 10.79% 15.88% - 0.00% 0.00%
Return on Equity (ROE)		 24.82% 21.37% 24.73% 21.84% 24.81% 21.56% 19.57% 27.49% - 0.00% 0.00%
Cash Return on Invested Capital (CROIC)		 1.64% 3.16% 3.03% -3.12% -0.94% 7.60% 4.13% 9.12% - -13.25% -12.93%
Operating Return on Assets (OROA)		 9.32% 8.74% 10.04% 8.82% 9.71% 8.96% 8.34% 11.06% - 0.00% 0.00%
Return on Assets (ROA)		 7.45% 6.09% 7.34% 6.20% 7.13% 5.90% 5.38% 8.15% - 0.00% 0.00%
Return on Common Equity (ROCE)		 22.87% 19.57% 22.65% 20.08% 22.85% 19.78% 18.01% 25.34% - 0.00% 0.00%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 18.08% 19.36% 18.83% 0.00% 18.94% 16.25% 17.45% - 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 295 257 293 271 307 258 241 336 - 333 332
NOPAT Margin		 79.69% 68.28% 76.94% 69.79% 79.68% 65.25% 61.09% 84.61% - 79.19% 77.22%
Net Nonoperating Expense Percent (NNEP)		 1.21% 1.19% 1.22% 1.18% 1.17% 1.30% 1.26% 1.20% - 1.24% 1.29%
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		 26.45% 25.29% 23.90% 23.20% 23.67% 24.61% 25.09% 24.60% - 23.04% 21.89%
Earnings before Interest and Taxes (EBIT)		 272 258 293 270 304 259 242 337 - 333 332
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 343 329 365 295 422 342 319 412 - 398 399
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.97 2.93 2.97 3.32 3.10 3.32 2.82 2.88 - 2.66 2.53
Price to Tangible Book Value (P/TBV)		 2.97 2.93 2.97 3.32 3.10 3.32 2.82 2.88 - 2.66 2.53
Price to Revenue (P/Rev)		 8.59 8.28 8.26 9.33 8.64 8.55 7.77 7.94 - 0.00 0.00
Price to Earnings (P/E)		 16.85 16.67 15.78 18.13 16.84 18.04 17.85 17.02 - 0.00 0.00
Dividend Yield		 6.26% 6.49% 6.59% 5.85% 6.31% 5.97% 6.56% 6.61% - 7.15% 7.10%
Earnings Yield		 5.94% 6.00% 6.34% 5.52% 5.94% 5.54% 5.60% 5.88% - 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.68 1.70 1.72 1.78 1.69 1.84 1.65 1.65 - 1.57 1.54
Enterprise Value to Revenue (EV/Rev)		 12.96 12.93 12.92 14.14 13.63 12.89 11.81 12.06 - 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 13.78 14.03 13.70 15.80 14.79 13.95 13.26 13.01 - 0.00 70.67
Enterprise Value to EBIT (EV/EBIT)		 17.47 17.83 17.21 19.17 18.54 17.38 16.78 16.29 - 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 17.52 17.88 17.27 19.21 18.50 17.35 16.76 16.29 - 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 18.50 18.41 18.70 20.52 19.45 19.76 17.59 18.57 - 0.00 17.27
Enterprise Value to Free Cash Flow (EV/FCFF)		 106.40 55.49 58.91 0.00 0.00 24.53 41.07 18.15 - 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.47 1.48 1.47 1.60 1.67 1.50 1.40 1.45 - 1.60 1.50
Long-Term Debt to Equity		 1.47 1.47 1.47 1.60 1.67 1.50 1.40 1.45 - 1.60 1.50
Financial Leverage		 1.48 1.50 1.50 1.53 1.57 1.49 1.43 1.53 - 1.55 1.45
Leverage Ratio		 2.64 2.66 2.65 2.68 2.72 2.63 2.57 2.66 - 2.69 2.58
Compound Leverage Factor		 2.12 1.86 1.94 1.89 2.00 1.74 1.66 1.96 - 1.94 1.83
Debt to Total Capital		 59.54% 59.60% 59.57% 61.58% 62.48% 60.01% 58.30% 59.26% - 61.61% 60.04%
Short-Term Debt to Total Capital		 0.06% 0.04% 0.04% 0.00% 0.00% 0.04% 0.05% 0.06% - 0.05% 0.06%
Long-Term Debt to Total Capital		 59.47% 59.56% 59.53% 61.58% 62.48% 59.97% 58.26% 59.20% - 61.55% 59.98%
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		 3.16% 3.33% 3.33% 3.07% 3.04% 3.30% 3.20% 3.12% - 3.06% 2.96%
Common Equity to Total Capital		 37.37% 37.07% 37.10% 35.35% 34.48% 36.69% 38.50% 37.62% - 35.40% 37.00%
Debt to EBITDA		 4.90 4.93 4.74 5.47 5.49 4.56 4.69 4.68 - 0.00 27.50
Net Debt to EBITDA		 4.39 4.77 4.67 5.11 5.16 4.45 4.28 4.19 - 0.00 26.42
Long-Term Debt to EBITDA		 4.89 4.93 4.74 5.47 5.49 4.55 4.68 4.68 - 0.00 27.47
Debt to NOPAT		 6.22 6.28 5.97 6.65 6.86 5.67 5.93 5.86 - 0.00 0.00
Net Debt to NOPAT		 5.58 6.08 5.89 6.21 6.45 5.53 5.41 5.25 - 0.00 0.00
Long-Term Debt to NOPAT		 6.22 6.28 5.97 6.65 6.86 5.67 5.92 5.86 - 0.00 0.00
Noncontrolling Interest Sharing Ratio		 7.85% 8.40% 8.39% 8.08% 7.88% 8.25% 7.94% 7.82% - 8.02% 7.53%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -596 -459 -493 -1,196 -930 -98 -448 210 - -1,298 -1,305
Operating Cash Flow to CapEx		 0.00% 286,524.44% 54,563.85% 0.00% 16,263.24% 0.00% 242,458.68% 419.43% - 0.00% 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
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
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
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.13 0.13 0.13 0.13 0.12 0.14 0.14 0.13 - 0.00 0.00
Fixed Asset Turnover		 0.16 0.16 0.17 0.17 0.17 0.18 0.18 0.18 - 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 11,144 11,133 11,142 12,038 12,381 11,488 11,831 12,164 - 13,119 13,467
Invested Capital Turnover		 0.13 0.14 0.14 0.13 0.13 0.14 0.14 0.14 - 0.00 0.00
Increase / (Decrease) in Invested Capital		 890 716 785 1,467 1,238 355 689 126 - 1,631 1,636
Enterprise Value (EV)		 18,674 18,887 19,188 21,406 20,865 21,093 19,501 20,027 - 20,561 20,777
Market Capitalization		 12,371 12,093 12,275 14,117 13,215 13,989 12,829 13,191 - 12,351 12,612
Book Value per Share		 $15.60 $15.20 $15.23 $15.51 $15.56 $15.34 $16.57 $16.17 - $16.40 $17.13
Tangible Book Value per Share		 $15.60 $15.20 $15.23 $15.51 $15.56 $15.34 $16.57 $16.17 - $16.40 $17.13
Total Capital		 11,144 11,133 11,142 12,038 12,381 11,488 11,831 12,164 - 13,119 13,467
Total Debt		 6,635 6,635 6,637 7,413 7,736 6,894 6,898 7,208 - 8,082 8,086
Total Long-Term Debt		 6,628 6,630 6,633 7,413 7,736 6,889 6,892 7,201 - 8,075 8,078
Net Debt		 5,951 6,423 6,543 6,919 7,273 6,725 6,294 6,456 - 7,807 7,767
Capital Expenditures (CapEx)		 0.00 0.09 0.46 0.00 1.80 -0.09 0.12 57 - 0.00 0.00
Net Nonoperating Expense (NNE)		 77 77 78 81 84 88 85 88 - 93 97
Net Nonoperating Obligations (NNO)		 6,635 6,635 6,637 7,413 7,736 6,894 6,898 7,208 - 8,082 8,086
Total Depreciation and Amortization (D&A)		 72 71 71 25 118 83 77 75 - 65 67
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.79 $0.64 $0.77 $0.67 $0.79 $0.60 $0.55 $0.85 $0.95 $0.82 $0.80
Adjusted Weighted Average Basic Shares Outstanding		 271.50M 271.50M 274.39M 274.39M 274.83M 274.83M 283.01M 283.01M 283.22M 283.22M 290.92M
Adjusted Diluted Earnings per Share		 $0.78 $0.64 $0.77 $0.67 $0.79 $0.60 $0.54 $0.85 $0.96 $0.82 $0.80
Adjusted Weighted Average Diluted Shares Outstanding		 271.50M 271.50M 274.39M 274.39M 274.83M 274.83M 283.01M 283.01M 283.22M 283.22M 290.92M
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		 271.50M 271.50M 274.39M 274.39M 274.83M 274.83M 283.01M 283.01M 283.22M 283.22M 290.92M
Normalized Net Operating Profit after Tax (NOPAT)		 295 257 293 271 307 258 241 336 - 333 332
Normalized NOPAT Margin		 79.69% 68.28% 76.94% 69.79% 79.68% 65.25% 61.09% 84.61% - 79.19% 77.22%
Pre Tax Income Margin		 59.04% 47.92% 56.44% 49.14% 58.10% 43.23% 39.69% 62.63% - 57.14% 54.86%
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
NOPAT to Interest Expense		 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
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
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 110.41% 105.30% 100.32% 102.27% 102.86% 104.35% 114.50% 107.65% - 0.00% 0.00%
Augmented Payout Ratio		 110.41% 105.30% 100.32% 102.27% 102.86% 104.35% 114.50% 107.65% - 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Gaming & Leisure Properties (NASDAQ: GLPI) delivered another solid quarter in Q4 2025, with earnings and operating cash flow holding up well even as the company continued to lean on debt, investments, and dividend payouts. Over the last several years, GLPI has shown a consistent pattern of strong profitability, high operating cash generation, and steady dividend distributions, but the balance sheet still reflects meaningful leverage.

  • Revenue and earnings remain strong: Q4 2025 total revenue was $407.0 million, up modestly from $385.9 million in Q4 2024, while net income rose to $275.4 million from $223.6 million year over year.
  • Cash generation is healthy: Operating cash flow in Q4 2025 was $343.2 million, a strong result that supports GLPI’s dividend model.
  • Full-year trend still looks resilient: Across 2025, quarterly net income stayed in the high-$100 million to mid-$200 million range, showing stable profitability.
  • Book equity continued to grow: Total equity and noncontrolling interests increased to $4.96 billion in Q3 2025 from $4.50 billion in Q2 2024, reflecting ongoing retained value creation.
  • Interest income improved: Total interest income climbed to $8.4 million in Q4 2025 from $4.0 million in Q3 2025, helping diversify earnings slightly.
  • Dividend coverage remains a key strength: The company continued to generate substantial operating cash flow relative to quarterly dividends, which were about $221 million in Q4 2025.
  • Asset base is expanding gradually: Total assets rose to $12.79 billion in Q3 2025 from $11.18 billion in Q1 2024, suggesting continued portfolio growth.
  • Noncontrolling interests are material: GLPI carries a sizable noncontrolling interest balance, which investors should factor into equity analysis.
  • Debt remains elevated: Long-term debt stood at $7.20 billion in Q3 2025, while total liabilities reached $7.83 billion, leaving leverage significant.
  • Cash was sharply lower in Q4 2025: Net change in cash and equivalents was negative $527.4 million for the quarter, largely due to investment outlays and financing activity.

Looking at the broader trend, GLPI’s earnings profile has been remarkably steady since 2023, with quarterly net income generally ranging from roughly $160 million to $275 million. The company’s operating cash flow has also been consistently strong, typically above $240 million per quarter and often closer to $300 million or more.

The main caution is leverage. GLPI continues to rely on debt to support its real estate and investment portfolio, and interest-related costs remain an important risk to monitor. That said, the company’s recurring cash generation and consistent profitability help offset some of that concern.

Bottom line: GLPI looks like a cash-generating REIT with durable earnings and a dependable dividend profile, but investors should keep an eye on debt levels and the size of quarterly cash swings tied to investments and financing.

08/18/26 05:25 PM ETAI Generated. May Contain Errors.

Gaming and Leisure Properties Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Gaming and Leisure Properties' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Gaming and Leisure Properties' net income appears to be on an upward trend, with a most recent value of $850.36 million in 2025, rising from $128.12 million in 2015. The previous period was $807.65 million in 2024. View Gaming and Leisure Properties' forecast to see where analysts expect Gaming and Leisure Properties to go next.

Over the last 10 years, Gaming and Leisure Properties' total revenue changed from $575.05 million in 2015 to $1.59 billion in 2025, a change of 177.3%.

Gaming and Leisure Properties' total liabilities were at $7.90 billion at the end of 2025, a 6.3% decrease from 2024, and a 192.5% increase since 2015.

In the past 10 years, Gaming and Leisure Properties' cash and equivalents has ranged from $0.00 in 2018 to $724.60 million in 2021, and is currently $224.31 million as of their latest financial filing in 2025.


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Financial statements for NASDAQ:GLPI last updated on 8/14/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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