AppLovin Corporation (APP) vs VICI Properties Inc. (VICI)
A side-by-side comparison of AppLovin Corporation and VICI Properties Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of July 28, 2026. Differences are shown without an overall score or investment verdict.
Different business models: APP is classified in Technology; VICI is classified in Real Estate. Margin, capital intensity, and valuation differences should be interpreted in that sector context.
APP
AppLovin Corporation
$418.22TechnologyDelayed quote: Jul 28, 2026, 4:00 PM EDT
VICI
VICI Properties Inc.
$27.10Real EstateDelayed quote: Jul 28, 2026, 4:02 PM EDT
Total return — APP vs VICI
growth of $100 · dividends reinvested · last 5yAPP +533.0%VICI +20.5%APP compounded faster
Log scale — wide-divergence pair
APP VICI
APP vs VICI: by the numbers
- •APP is the larger company ($140.50B vs $28.97B market cap).
- •VICI trades at the lower trailing earnings multiple (9.16 vs 35.46 P/E), one valuation lens rather than an overall verdict.
- •VICI converts more revenue to profit (76.69% vs 64.29% net margin).
- •APP grew revenue faster over the past five years (27.99% vs 24.66% CAGR).
- •VICI pays a dividend (6.73% yield), while APP has no payments in the available dividend history.
Metrics side by side
Valuation
| Metric | APP | VICI |
|---|---|---|
| P/E ratio | 35.46 | 9.16 |
| Forward P/E | 25.66 | 9.08 |
| P/S ratio | 22.68 | 7.06 |
| P/B ratio | 59.15 | 1.01 |
| PEG ratio | 0.62 | 5.52 |
| EV / EBITDA | 28.68 | 11.46 |
| FCF yield | 3.15% | N/A |
Profitability
| Metric | APP | VICI |
|---|---|---|
| Gross margin | 88.37% | 99.22% |
| Operating margin | 77.09% | 98.67% |
| Net margin | 64.29% | 76.69% |
| ROE | 167.67% | 11.01% |
| ROIC | 60.71% | 8.77% |
Dividends
| Metric | APP | VICI |
|---|---|---|
| Dividend yield | N/A | 6.73% |
| Payout ratio | N/A | 68.97% |
Growth (annualized)
| Metric | APP | VICI |
|---|---|---|
| Revenue CAGR (5Y) | 27.99% | 24.66% |
| EPS CAGR (5Y) | 73.54% | 8.20% |
| FCF CAGR (5Y) | 79.57% | N/A |
| Total return CAGR (5Y) | 45.80% | 2.02% |
Frequently asked
- Which has the lower trailing P/E, APP or VICI?
- VICI has the lower trailing P/E: APP trades at 35.46 and VICI at 9.16. P/E is one valuation measure and does not by itself establish which business is cheaper.
- Which has grown faster, APP or VICI?
- Over the past five years, APP grew revenue faster — APP at a 27.99% CAGR versus VICI at 24.66%.
- Does APP or VICI pay a bigger dividend?
- VICI pays a dividend (6.73% yield), while APP has no payments in the available dividend history.
- Is APP or VICI more profitable?
- VICI runs the higher net margin — APP at 64.29% versus VICI at 76.69%.
- How have APP and VICI total returns compared?
- Over the past 5 years, APP delivered 45.80% and VICI delivered 2.02% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
AppLovin P/E ratioVICI Properties P/E ratioAppLovin dividend yieldVICI Properties dividend yieldAppLovin ROEVICI Properties ROEAppLovin operating marginVICI Properties operating marginAppLovin revenue growthVICI Properties revenue growthAppLovin free cash flowVICI Properties free cash flow
AppLovin & VICI Properties appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified July 28, 2026.