Company Valuation: Gaming and Leisure Properties, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 11,973 13,414 13,177 13,215 12,648 11,134 - -
Change - 12.04% -1.77% 0.28% -4.29% -11.97% - -
Enterprise Value (EV) 1 17,854 19,357 19,175 20,549 19,688 19,195 19,390 19,556
Change - 8.42% -0.94% 7.16% -4.19% -2.51% 1.02% 0.85%
P/E 21.5x 19.3x 17.8x 16.8x 15.1x 11.8x 11.5x 11x
PBR 3.84x 3.59x 3.31x 3.19x 2.81x 2.17x 2.18x 2.13x
PEG - 1x 6.87x 4.65x 5.42x 1.19x 3.96x 2.47x
Capitalization / Revenue 9.84x 10.2x 9.15x 8.63x 7.93x 6.44x 6.09x 5.9x
EV / Revenue 14.7x 14.8x 13.3x 13.4x 12.3x 11.1x 10.6x 10.4x
EV / EBITDA 16.3x 15.8x 14.7x 15x 13.4x 11.8x 11.3x 11x
EV / EBIT 21.2x 18.8x 17.9x 18.2x 16.4x 14.1x 13.5x 13.1x
EV / FCF 22.6x 21.6x 19.9x 19.9x 23.9x 16.2x 15.3x -
FCF Yield 4.42% 4.63% 5.02% 5.03% 4.19% 6.17% 6.53% -
Dividend per Share 2 2.66 2.805 3.15 3.04 3.1 3.234 3.338 3.455
Rate of return 5.47% 5.38% 6.38% 6.31% 6.94% 8.45% 8.72% 9.03%
EPS 2 2.26 2.7 2.77 2.87 2.95 3.242 3.336 3.485
Distribution rate 118% 104% 114% 106% 105% 99.8% 100% 99.2%
Net sales 1 1,216 1,312 1,440 1,532 1,595 1,729 1,827 1,888
EBITDA 1 1,097 1,222 1,307 1,374 1,467 1,622 1,721 1,783
EBIT 1 841.8 1,030 1,069 1,131 1,201 1,358 1,434 1,497
Net income 1 534 684.7 734.3 784.6 825.1 947.7 998.1 1,044
Net Debt 1 5,881 5,943 5,998 7,334 7,041 8,061 8,257 8,422
Reference price 2 48.66 52.09 49.35 48.16 44.69 38.27 38.27 38.27
Nbr of stocks (in thousands) 2,46,051 2,57,517 2,67,016 2,74,392 2,83,008 2,90,920 - -
Announcement Date 24/02/22 23/02/23 27/02/24 20/02/25 19/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
80.9x12.85x34.63x1.35% 17TCr
58.94x11.84x23.04x2.04% 10TCr
24x10.33x15.62x4.27% 7.8TCr
62.42x11.9x22.06x2.77% 6.55TCr
28.33x13.02x18.23x4.21% 5.34TCr
159.73x8.18x22.49x2.39% 4.46TCr
60.45x6.34x17.06x3.16% 3.32TCr
34.52x11.35x17.01x6.34% 2.85TCr
28.52x13.9x16.9x4.88% 2.82TCr
Average 59.76x 11.08x 20.78x 3.49% 6.66TCr
Weighted average by Cap. 63.19x 11.53x 23.84x 2.84%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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