WallStSmart

Safehold Inc (SAFE)vsVICI Properties Inc (VICI)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

VICI Properties Inc generates 870% more annual revenue ($4.04B vs $416.66M). VICI leads profitability with a 76.8% profit margin vs 27.4%. SAFE trades at a lower P/E of 9.3x. SAFE earns a higher WallStSmart Score of 68/100 (B-).

SAFE

Strong Buy

68

out of 100

Grade: B-

Growth: 5.3Profit: 7.0Value: 9.3Quality: 5.0
Piotroski: 3/9Altman Z: 0.92

VICI

Strong Buy

66

out of 100

Grade: B-

Growth: 7.3Profit: 8.0Value: 8.3Quality: 6.3
Piotroski: 3/9Altman Z: 1.77
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

SAFEUndervalued (+82.0%)

Margin of Safety

+82.0%

Fair Value

$82.17

Current Price

$14.49

$67.68 discount

UndervaluedFair: $82.17Overvalued
VICIUndervalued (+49.2%)

Margin of Safety

+49.2%

Fair Value

$57.45

Current Price

$28.09

$29.36 discount

UndervaluedFair: $57.45Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

SAFE5 strengths · Avg: 9.4/10
P/E RatioValuation
9.3x10/10

Attractively priced relative to earnings

Price/BookValuation
0.4x10/10

Reasonable price relative to book value

Operating MarginProfitability
72.3%10/10

Strong operational efficiency at 72.3%

Profit MarginProfitability
27.4%9/10

Keeps 27 of every $100 in revenue as profit

PEG RatioValuation
0.658/10

Growing faster than its price suggests

VICI5 strengths · Avg: 10.0/10
P/E RatioValuation
9.8x10/10

Attractively priced relative to earnings

Price/BookValuation
1.1x10/10

Reasonable price relative to book value

Profit MarginProfitability
76.8%10/10

Keeps 77 of every $100 in revenue as profit

Operating MarginProfitability
107.5%10/10

Strong operational efficiency at 107.5%

EPS GrowthGrowth
60.1%10/10

Earnings expanding 60.1% YoY

Areas to Watch

SAFE4 concerns · Avg: 3.0/10
Market CapQuality
$1.07B3/10

Smaller company, higher risk/reward

Return on EquityProfitability
4.7%3/10

ROE of 4.7% — below average capital efficiency

Debt/EquityHealth
1.963/10

Elevated debt levels

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

VICI3 concerns · Avg: 3.7/10
Revenue GrowthGrowth
3.5%4/10

3.5% revenue growth

Altman Z-ScoreHealth
1.774/10

Distress zone — elevated risk

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

Comparative Analysis Report

WallStSmart Research

Bull Case : SAFE

The strongest argument for SAFE centers on P/E Ratio, Price/Book, Operating Margin. Profitability is solid with margins at 27.4% and operating margin at 72.3%. Revenue growth of 11.9% 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 : SAFE

The primary concerns for SAFE are Market Cap, Return on Equity, Debt/Equity. Debt-to-equity of 1.96 is elevated, increasing financial risk.

Bear Case : VICI

The primary concerns for VICI are Revenue Growth, Altman Z-Score, Piotroski F-Score.

Key Dynamics to Monitor

SAFE profiles as a mature stock while VICI is a value play — different risk/reward profiles.

SAFE carries more volatility with a beta of 1.85 — expect wider price swings.

SAFE is growing revenue faster at 11.9% — sustainability is the question.

Monitor REIT - DIVERSIFIED industry trends, competitive dynamics, and regulatory changes.

Bottom Line

SAFE scores higher overall (68/100 vs 66/100), backed by strong 27.4% margins and 11.9% revenue growth. VICI offers better value entry with a 49.2% margin of safety. Both earn "Strong Buy" and "Strong 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.

Safehold Inc

REAL ESTATE · REIT - DIVERSIFIED · USA

Safehold Inc. (SAFE) is a leading real estate investment trust (REIT) focused on the acquisition and management of ground leases, which allows property owners to enhance their asset value while retaining ownership. By targeting high-quality urban properties, Safehold creates a low-risk investment profile with the potential for steady income generation. The company's strong balance sheet and dedication to sustainable income growth position it favorably to capitalize on the rising demand for ground leases. With its unique business model and commitment to delivering consistent returns, Safehold presents an appealing investment opportunity for institutional investors seeking diversification in their portfolios.

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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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