(GLPI) Gaming & Leisure Properties - Overview
Sector: Real Estate | Industry: REIT - Specialty | Exchange: NASDAQ (USA) | Market Cap: 13.051m USD | Total Return: 7.2% in 12m
Avg Turnover: 80.0M
EPS Trend: 29.9%
Qual. Beats: 0
Rev. Trend: 99.1%
Qual. Beats: 0
Warnings
Altman Z'' 0.93 < 1.0 - financial distress zone
Fakeout Below Avwap Earnings
Tailwinds
No distinct edge detected
Gaming and Leisure Properties, Inc. (GLPI) is a real estate investment trust (REIT) focused on the acquisition and ownership of properties leased to gaming operators. Established in 2013 and headquartered in Pennsylvania, the company utilizes a triple-net lease structure. Under these agreements, tenants assume all operational responsibilities, including maintenance, insurance, taxes, and utilities, which provides the landlord with a predictable core rental income stream.
The gaming REIT sector often benefits from high barriers to entry due to strict state licensing requirements and the significant capital expenditure needed to develop large-scale casino resorts. By focusing on the real estate rather than operations, GLPI reduces its exposure to the volatility of daily gaming revenues while maintaining long-term occupancy through specialized, purpose-built assets. Examining historical dividend growth and tenant concentration on ValueRay can provide deeper insight into the companys long-term stability.
- Triple-net lease structure transfers property maintenance and tax costs to gaming tenants
- Expansion of regional casino portfolio drives rental income growth and dividend stability
- High interest rates increase cost of capital for future property acquisitions
- Tenant concentration risks impact revenue if major operators face financial distress
- State-level gaming regulation changes influence property valuations and expansion opportunities
| Net Income: 891.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -7.08 > 1.0 |
| NWC/Revenue: 15.87% < 20% (prev 151.1%; Δ -135.2% < -1%) |
| CFO/TA 0.08 > 3% & CFO 1.15b > Net Income 891.8m |
| Net Debt (8.41b) to EBITDA (1.67b): 5.03 < 3 |
| Current Ratio: 15.62 > 1.5 & < 3 |
| Outstanding Shares: last quarter (279.9m) vs 12m ago 2.33% < -2% |
| Gross Margin: 54.38% > 18% (prev 96.81%; Δ -42.43% > 0.5%) |
| Asset Turnover: 12.51% > 50% (prev 12.78%; Δ -0.28% > 0%) |
| Interest Coverage Ratio: 2.97 > 6 (EBIT TTM 1.39b / Interest Expense TTM 467.1m) |
| A: 0.02 (Total Current Assets 274.5m - Total Current Liabilities 17.6m) / Total Assets 13.8b |
| B: -0.14 (Retained Earnings -1.98b / Total Assets 13.8b) |
| C: 0.11 (EBIT TTM 1.39b / Avg Total Assets 12.9b) |
| D: 0.53 (Book Value of Equity 4.63b / Total Liabilities 8.73b) |
| Altman-Z'' = 0.93 = BB |
| DSRI: 0.99 (Receivables 2.56b/2.47b, Revenue 1.62b/1.55b) |
| GMI: 1.78 (GM 96.81% / 54.38%) |
| AQI: 1.26 (AQ_t 0.96 / AQ_t-1 0.76) |
| SGI: 1.04 (Revenue 1.62b / 1.55b) |
| TATA: -0.02 (NI 891.8m - CFO 1.15b) / TA 13.8b) |
| Beneish M = -2.14 (Cap -4..+1) = BB |
As of June 05, 2026, the stock is trading at USD 46.20 with a total of 1,783,929 shares traded.
Over the past week, the price has changed by -2.59%,
over one month by -2.37%,
over three months by -5.65% and
over the past year by +7.24%.
Gaming & Leisure Properties has received a consensus analysts rating of 4.04. Therefore, it is recommended to buy GLPI.
- StrongBuy: 11
- Buy: 4
- Hold: 8
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 54.5 | 17.9% |
P/E Trailing = 14.5363
P/E Forward = 14.1443
P/S = 8.0586
P/B = 2.8592
P/EG = 8.08
Revenue TTM = 1.62b USD
EBIT TTM = 1.39b USD
EBITDA TTM = 1.67b USD
Long Term Debt = 8.08b USD (from longTermDebt, last quarter)
Short Term Debt = 17.6m USD (from shortTermDebt, last quarter)
Debt = 8.68b USD (from shortLongTermDebtTotal, last quarter) + Leases 303.1m
Net Debt = 8.41b USD (calculated: Debt 8.68b - CCE 274.5m)
Enterprise Value = 21.5b USD (13.1b + Debt 8.68b - CCE 274.5m)
Interest Coverage Ratio = 2.97 (Ebit TTM 1.39b / Interest Expense TTM 467.1m)
EV/FCF = 105.5x (Enterprise Value 21.5b / FCF TTM 203.3m)
FCF Yield = 0.95% (FCF TTM 203.3m / Enterprise Value 21.5b)
FCF Margin = 12.55% (FCF TTM 203.3m / Revenue TTM 1.62b)
Net Margin = 55.06% (Net Income TTM 891.8m / Revenue TTM 1.62b)
Gross Margin = 54.38% ((Revenue TTM 1.62b - Cost of Revenue TTM 738.8m) / Revenue TTM)
Gross Margin QoQ = 64.73% (prev -38.30%)
Tobins Q-Ratio = 1.56 (Enterprise Value 21.5b / Total Assets 13.8b)
Interest Expense / Debt = 5.38% (Interest Expense 467.1m / Debt 8.68b)
Taxrate = 0.24% (2.23m / 921.6m)
NOPAT = 1.39b (EBIT 1.39b * (1 - 0.24%))
Current Ratio = 11.24 (Total Current Assets 274.5m / Total Current Liabilities 24.4m)
Debt / Equity = 1.87 (Debt 8.68b / totalStockholderEquity, last quarter 4.63b)
Debt / EBITDA = 5.03 (Net Debt 8.41b / EBITDA 1.67b)
Debt / FCF = 41.35 (Net Debt 8.41b / FCF TTM 203.3m)
Total Stockholder Equity = 4.60b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.89% (Net Income 891.8m / Total Assets 13.8b)
RoE = 19.39% (Net Income TTM 891.8m / Total Stockholder Equity 4.60b)
RoCE = 10.96% (EBIT 1.39b / Capital Employed (Equity 4.60b + L.T.Debt 8.08b))
RoIC = 10.12% (NOPAT 1.39b / Invested Capital 13.7b)
WACC = 5.92% (E(13.1b)/V(21.7b) * Re(6.28%) + D(8.68b)/V(21.7b) * Rd(5.38%) * (1-Tc(0.00)))
Discount Rate = 6.28% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 79.57 | Cagr: 1.67%
[DCF] Terminal Value 73.10% ; FCFF base≈537.5m ; Y1≈471.4m ; Y5≈380.8m
[DCF] Fair Price = N/A (negative equity: EV 6.11b - Net Debt 8.41b = -2.29b; debt exceeds intrinsic value)
EPS Correlation: 29.87 | EPS CAGR: 1.58% | SUE: 0.13 | # QB: 0
Revenue Correlation: 99.12 | Revenue CAGR: 5.74% | SUE: 0.74 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.80 | Chg30d=+0.51% | Revisions=+20% | Analysts=5
EPS next Quarter (2026-09-30): EPS=0.81 | Chg30d=+1.25% | Revisions=N/A | Analysts=5
EPS current Year (2026-12-31): EPS=3.20 | Chg30d=+1.59% | Revisions=+20% | GrowthEPS=+0.0% | GrowthRev=+8.0%
EPS next Year (2027-12-31): EPS=3.33 | Chg30d=-0.54% | Revisions=+33% | GrowthEPS=+4.0% | GrowthRev=+5.9%
[Analyst] Revisions Ratio: +33%