Broadstone Net Lease Inc (BNL)vsVICI Properties Inc (VICI)
BNL
Broadstone Net Lease Inc
$18.64
-3.72%
REAL ESTATE · Cap: $3.94B
VICI
VICI Properties Inc
$26.83
-4.11%
REAL ESTATE · Cap: $30.59B
Smart Verdict
WallStSmart Research — data-driven comparison
VICI Properties Inc generates 782% more annual revenue ($4.01B vs $454.14M). VICI leads profitability with a 69.3% profit margin vs 21.2%. VICI trades at a lower P/E of 11.0x. BNL earns a higher WallStSmart Score of 58/100 (C).
BNL
Buy58
out of 100
Grade: C
VICI
Buy56
out of 100
Grade: C
Intrinsic Value Comparison
Multi-model valuation · Graham Formula
Margin of Safety
+15.9%
Fair Value
$23.16
Current Price
$18.64
$4.52 discount
Margin of Safety
-64.3%
Fair Value
$17.75
Current Price
$26.83
$9.08 premium
Key Strengths & Concerns
Side-by-side fundamental analysis
Key Strengths
Reasonable price relative to book value
Strong operational efficiency at 51.2%
Keeps 21 of every $100 in revenue as profit
Earnings expanding 24.7% YoY
Attractively priced relative to earnings
Reasonable price relative to book value
Keeps 69 of every $100 in revenue as profit
Strong operational efficiency at 80.3%
Areas to Watch
Premium valuation, high expectations priced in
ROE of 3.2% — below average capital efficiency
Distress zone — elevated risk
3.8% revenue growth
Distress zone — elevated risk
Weak financial health signals
Earnings declined 3.4%
Comparative Analysis Report
WallStSmart ResearchBull Case : BNL
The strongest argument for BNL centers on Price/Book, Operating Margin, Profit Margin. Profitability is solid with margins at 21.2% and operating margin at 51.2%.
Bull Case : VICI
The strongest argument for VICI centers on P/E Ratio, Price/Book, Profit Margin. Profitability is solid with margins at 69.3% and operating margin at 80.3%.
Bear Case : BNL
The primary concerns for BNL are P/E Ratio, Return on Equity, Altman Z-Score.
Bear Case : VICI
The primary concerns for VICI are Revenue Growth, Altman Z-Score, Piotroski F-Score.
Key Dynamics to Monitor
BNL profiles as a mature stock while VICI is a value play — different risk/reward profiles.
BNL carries more volatility with a beta of 1.02 — expect wider price swings.
BNL is growing revenue faster at 5.5% — sustainability is the question.
VICI generates stronger free cash flow (692M), providing more financial flexibility.
Bottom Line
BNL scores higher overall (58/100 vs 56/100), backed by strong 21.2% margins. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.
This analysis is generated from publicly available financial data. Not financial advice.
Broadstone Net Lease Inc
REAL ESTATE · REIT - DIVERSIFIED · USA
BNL is an internally managed REIT that primarily acquires, owns and manages single-tenant commercial real estate that is rented out on a long-term basis to a diversified group of tenants.
VICI Properties Inc
REAL ESTATE · REIT - DIVERSIFIED · USA
VICI Properties is an experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including the world-renowned Caesars Palace.
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