WallStSmart

Safehold Inc (SAFE)vsVICI Properties Inc (VICI)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

VICI Properties Inc generates 891% more annual revenue ($4.01B vs $404.44M). VICI leads profitability with a 69.3% profit margin vs 28.3%. SAFE trades at a lower P/E of 9.1x. SAFE earns a higher WallStSmart Score of 70/100 (B).

SAFE

Strong Buy

70

out of 100

Grade: B

Growth: 6.7Profit: 7.0Value: 10.0Quality: 6.5
Piotroski: 3/9Altman Z: 0.92

VICI

Buy

56

out of 100

Grade: C

Growth: 4.7Profit: 8.0Value: 5.7Quality: 6.3
Piotroski: 3/9Altman Z: 1.77
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

SAFEUndervalued (+40.9%)

Margin of Safety

+40.9%

Fair Value

$25.06

Current Price

$13.79

$11.27 discount

UndervaluedFair: $25.06Overvalued
VICISignificantly Overvalued (-64.3%)

Margin of Safety

-64.3%

Fair Value

$17.75

Current Price

$26.83

$9.08 premium

UndervaluedFair: $17.75Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

SAFE5 strengths · Avg: 9.4/10
P/E RatioValuation
9.1x10/10

Attractively priced relative to earnings

Price/BookValuation
0.4x10/10

Reasonable price relative to book value

Operating MarginProfitability
81.8%10/10

Strong operational efficiency at 81.8%

Profit MarginProfitability
28.3%9/10

Keeps 28 of every $100 in revenue as profit

PEG RatioValuation
0.658/10

Growing faster than its price suggests

VICI4 strengths · Avg: 10.0/10
P/E RatioValuation
11.0x10/10

Attractively priced relative to earnings

Price/BookValuation
1.0x10/10

Reasonable price relative to book value

Profit MarginProfitability
69.3%10/10

Keeps 69 of every $100 in revenue as profit

Operating MarginProfitability
80.3%10/10

Strong operational efficiency at 80.3%

Areas to Watch

SAFE4 concerns · Avg: 3.0/10
Market CapQuality
$1.04B3/10

Smaller company, higher risk/reward

Return on EquityProfitability
4.8%3/10

ROE of 4.8% — below average capital efficiency

Debt/EquityHealth
1.963/10

Elevated debt levels

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

VICI4 concerns · Avg: 3.3/10
Revenue GrowthGrowth
3.8%4/10

3.8% revenue growth

Altman Z-ScoreHealth
1.774/10

Distress zone — elevated risk

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

EPS GrowthGrowth
-3.4%2/10

Earnings declined 3.4%

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 28.3% and operating margin at 81.8%. PEG of 0.65 suggests the stock is reasonably priced for its growth.

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 : 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 1.83 — expect wider price swings.

SAFE is growing revenue faster at 5.7% — sustainability is the question.

VICI generates stronger free cash flow (692M), providing more financial flexibility.

Bottom Line

SAFE scores higher overall (70/100 vs 56/100), backed by strong 28.3% 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.

Safehold Inc

REAL ESTATE · REIT - DIVERSIFIED · USA

Safehold Inc. (SAFE) is a pioneering real estate investment trust (REIT) specializing in the acquisition and management of ground leases, enabling property owners to enhance asset value while preserving ownership. Targeting prime urban properties, Safehold offers a unique, low-risk investment opportunity characterized by stable income generation. With a robust balance sheet and a commitment to sustainable income growth, the company is well-positioned to leverage the increasing demand for ground leases. Its innovative business model not only sets it apart in the evolving real estate landscape but also provides an appealing avenue for institutional investors seeking diversification and consistent returns.

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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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