Broadstone Net Lease Inc (BNL)vsVICI Properties Inc (VICI)
BNL
Broadstone Net Lease Inc
$17.59
+2.87%
REAL ESTATE · Cap: $3.70B
VICI
VICI Properties Inc
$25.00
+2.21%
REAL ESTATE · Cap: $26.10B
Smart Verdict
WallStSmart Research — data-driven comparison
VICI Properties Inc generates 761% more annual revenue ($4.10B vs $476.17M). VICI leads profitability with a 67.5% profit margin vs 30.6%. VICI trades at a lower P/E of 9.2x. BNL earns a higher WallStSmart Score of 63/100 (C+).
BNL
Buy63
out of 100
Grade: C+
VICI
Buy59
out of 100
Grade: C
Intrinsic Value Comparison
Multi-model valuation · Graham Formula
Margin of Safety
-37.0%
Fair Value
$14.21
Current Price
$17.59
$3.38 premium
Margin of Safety
+36.8%
Fair Value
$46.14
Current Price
$25.00
$21.14 discount
Key Strengths & Concerns
Side-by-side fundamental analysis
Key Strengths
Reasonable price relative to book value
Keeps 31 of every $100 in revenue as profit
Strong operational efficiency at 46.2%
Earnings expanding 95.7% YoY
Attractively priced relative to earnings
Reasonable price relative to book value
Keeps 68 of every $100 in revenue as profit
Strong operational efficiency at 70.2%
Areas to Watch
Distress zone — elevated risk
ROE of 4.4% — below average capital efficiency
Weak financial health signals
Grey zone — moderate risk
Earnings declined 41.4%
Comparative Analysis Report
WallStSmart ResearchBull Case : BNL
The strongest argument for BNL centers on Price/Book, Profit Margin, Operating Margin. Profitability is solid with margins at 30.6% and operating margin at 46.2%.
Bull Case : VICI
The strongest argument for VICI centers on P/E Ratio, Price/Book, Profit Margin. Profitability is solid with margins at 67.5% and operating margin at 70.2%.
Bear Case : BNL
The primary concerns for BNL are Altman Z-Score, Return on Equity, Piotroski F-Score.
Bear Case : VICI
The primary concerns for VICI are Altman Z-Score, EPS Growth.
Key Dynamics to Monitor
BNL carries more volatility with a beta of 0.94 — expect wider price swings.
BNL is growing revenue faster at 8.3% — sustainability is the question.
VICI generates stronger free cash flow (728M), providing more financial flexibility.
Monitor REIT - DIVERSIFIED industry trends, competitive dynamics, and regulatory changes.
Bottom Line
BNL scores higher overall (63/100 vs 59/100), backed by strong 30.6% margins. VICI offers better value entry with a 36.8% margin of safety. 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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