Broadstone Net Lease Inc (BNL)vsVICI Properties Inc (VICI)
BNL
Broadstone Net Lease Inc
$19.41
-1.17%
REAL ESTATE · Cap: $3.93B
VICI
VICI Properties Inc
$28.58
-2.12%
REAL ESTATE · Cap: $30.77B
Smart Verdict
WallStSmart Research — data-driven comparison
VICI Properties Inc generates 765% more annual revenue ($4.04B vs $466.85M). VICI leads profitability with a 76.8% profit margin vs 27.0%. VICI trades at a lower P/E of 9.8x. VICI earns a higher WallStSmart Score of 66/100 (B-).
BNL
Buy62
out of 100
Grade: C+
VICI
Strong Buy66
out of 100
Grade: B-
Intrinsic Value Comparison
Multi-model valuation · Graham Formula
Margin of Safety
-2.9%
Fair Value
$18.92
Current Price
$19.41
$0.49 premium
Margin of Safety
+49.2%
Fair Value
$57.45
Current Price
$28.58
$28.87 discount
Key Strengths & Concerns
Side-by-side fundamental analysis
Key Strengths
Reasonable price relative to book value
Strong operational efficiency at 52.2%
Earnings expanding 175.2% YoY
Keeps 27 of every $100 in revenue as profit
Attractively priced relative to earnings
Reasonable price relative to book value
Keeps 77 of every $100 in revenue as profit
Strong operational efficiency at 107.5%
Earnings expanding 60.1% YoY
Areas to Watch
Premium valuation, high expectations priced in
ROE of 4.2% — below average capital efficiency
Distress zone — elevated risk
3.5% revenue growth
Distress zone — elevated risk
Weak financial health signals
Comparative Analysis Report
WallStSmart ResearchBull Case : BNL
The strongest argument for BNL centers on Price/Book, Operating Margin, EPS Growth. Profitability is solid with margins at 27.0% and operating margin at 52.2%. Revenue growth of 11.7% demonstrates continued momentum.
Bull Case : VICI
The strongest argument for VICI centers on P/E Ratio, Price/Book, Profit Margin. Profitability is solid with margins at 76.8% and operating margin at 107.5%.
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 11.7% — sustainability is the question.
VICI generates stronger free cash flow (631M), providing more financial flexibility.
Bottom Line
VICI scores higher overall (66/100 vs 62/100), backed by strong 76.8% margins. Both earn "Strong 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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