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Gaming & Leisure Properties, Inc.

GLPI Clue Score52
United States Fiscal year ends December CIK 0001575965
$38.28 +0.05% Close, 9 Oct 2026
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Price $38.28 −19.65% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue0.83Operating income0.48Net income0.29EPS, diluted1.60Fiscal year 2017Revenue0.97 +17.3%Operating income0.61Net income0.38 +31.6%EPS, diluted1.79 +11.9%Fiscal year 2018Revenue1.06 +8.7%Operating income0.59Net income0.34 −10.8%EPS, diluted1.58 −11.7%Fiscal year 2019Revenue0.13 −87.8%Operating income0.72Net income0.39 +15.1%EPS, diluted1.81 +14.6%Fiscal year 2020Revenue0.10 −19.8%Operating income0.81Net income0.51 +29.4%EPS, diluted2.30 +27.1%Fiscal year 2021Revenue0.11 +6.5%Operating income0.84Net income0.53 +5.6%EPS, diluted2.26 −1.7%Fiscal year 2022Revenue0.00 −100.0%Operating income1.03Net income0.68 +28.2%EPS, diluted2.70 +19.5%Fiscal year 2023Revenue0.00Operating income1.07Net income0.73 +7.2%EPS, diluted2.77 +2.6%Fiscal year 2024Revenue1.53Operating income1.13Net income0.78 +6.9%EPS, diluted2.87 +3.6%Fiscal year 2025Revenue1.59 +4.1%Operating income1.20Net income0.83 +5.2%EPS, diluted2.95 +2.8%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 0.83 0.97 1.06 0.13 0.10 0.11 0.00 0.00 1.53 1.59
Growth +17.3% +8.7% −87.8% −19.8% +6.5% −100.0% +4.1%
Operating income 0.48 0.61 0.59 0.72 0.81 0.84 1.03 1.07 1.13 1.20
Net income 0.29 0.38 0.34 0.39 0.51 0.53 0.68 0.73 0.78 0.83
Growth +31.6% −10.8% +15.1% +29.4% +5.6% +28.2% +7.2% +6.9% +5.2%
EPS, diluted 1.60 1.79 1.58 1.81 2.30 2.26 2.70 2.77 2.87 2.95
Growth +11.9% −11.7% +14.6% +27.1% −1.7% +19.5% +2.6% +3.6% +2.8%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin58.0%Net margin34.9%Free cash flow margin62.1%Fiscal year 2017Operating margin62.3%Net margin39.2%Free cash flow margin61.6%Fiscal year 2018Operating margin56.2%Net margin32.2%Free cash flow margin62.0%Fiscal year 2019Operating margin558.8%Net margin304.4%Free cash flow margin584.4%Fiscal year 2020Operating margin785.7%Net margin491.0%Free cash flow margin415.2%Fiscal year 2021Operating margin767.4%Net margin486.9%Free cash flow margin720.1%Fiscal year 2022Fiscal year 2023Fiscal year 2024Operating margin73.8%Net margin51.2%Fiscal year 2025Operating margin75.3%Net margin51.7%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 58.0% 62.3% 56.2% 558.8% 785.7% 767.4% n/a n/a 73.8% 75.3%
Net margin 34.9% 39.2% 32.2% 304.4% 491.0% 486.9% n/a n/a 51.2% 51.7%
Free cash flow margin 62.1% 61.6% 62.0% 584.4% 415.2% 720.1% n/a n/a n/a n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow0.51Capital expenditure−0.00Free cash flow0.51Dividends paid−0.43Fiscal year 2017Operating cash flow0.60Capital expenditure−0.00Free cash flow0.60 +16.5%Dividends paid−0.53Fiscal year 2018Operating cash flow0.65Capital expenditure−0.00Free cash flow0.65 +9.3%Dividends paid−0.55Fiscal year 2019Operating cash flow0.75Capital expenditure0.00Free cash flow0.75 +14.7%Dividends paid−0.59Fiscal year 2020Operating cash flow0.43Capital expenditure−0.00Free cash flow0.43 −43.0%Dividends paid−0.23Fiscal year 2021Operating cash flow0.80Capital expenditure−0.01Free cash flow0.79 +84.7%Dividends paid−0.63Fiscal year 2022Operating cash flow0.92Dividends paid−0.77Fiscal year 2023Operating cash flow1.01Dividends paid−0.83Fiscal year 2024Operating cash flow1.07Dividends paid−0.83Fiscal year 2025Operating cash flow1.13Dividends paid−0.87
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 0.51 0.60 0.65 0.75 0.43 0.80 0.92 1.01 1.07 1.13
Capital expenditure −0.00 −0.00 −0.00 0.00 −0.00 −0.01 n/a n/a n/a n/a
Free cash flow 0.51 0.60 0.65 0.75 0.43 0.79 n/a n/a n/a n/a
Growth +16.5% +9.3% +14.7% −43.0% +84.7%
Dividends paid −0.43 −0.53 −0.55 −0.59 −0.23 −0.63 −0.77 −0.83 −0.83 −0.87

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.04Total debt4.66Net cash (debt)−4.63Shareholders’ equity2.43Debt to equity1.92Fiscal year 2017Cash0.03Total debt4.44Net cash (debt)−4.41Shareholders’ equity2.46Debt to equity1.81Fiscal year 2018Cash0.03Total debt5.85Net cash (debt)−5.83Shareholders’ equity2.27Debt to equity2.58Fiscal year 2019Cash0.03Shareholders’ equity2.07Fiscal year 2020Cash0.49Total debt5.75Net cash (debt)−5.27Shareholders’ equity2.68Debt to equity2.15Fiscal year 2021Cash0.72Total debt6.55Net cash (debt)−5.83Shareholders’ equity3.39Debt to equity1.93Fiscal year 2022Cash0.24Total debt6.13Net cash (debt)−5.89Shareholders’ equity4.12Debt to equity1.49Fiscal year 2023Cash0.68Total debt6.63Net cash (debt)−5.94Shareholders’ equity4.16Debt to equity1.59Fiscal year 2024Cash0.46Total debt7.74Net cash (debt)−7.27Shareholders’ equity4.27Debt to equity1.81Fiscal year 2025Cash0.22Total debt7.20Net cash (debt)−6.98Shareholders’ equity4.63Debt to equity1.56
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.04 0.03 0.03 0.03 0.49 0.72 0.24 0.68 0.46 0.22
Total debt 4.66 4.44 5.85 n/a 5.75 6.55 6.13 6.63 7.74 7.20
Net cash (debt) −4.63 −4.41 −5.83 n/a −5.27 −5.83 −5.89 −5.94 −7.27 −6.98
Shareholders’ equity 2.43 2.46 2.27 2.07 2.68 3.39 4.12 4.16 4.27 4.63
Debt to equity 1.92 1.81 2.58 n/a 2.15 1.93 1.49 1.59 1.81 1.56

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
0.83 0.97 1.06 0.13 0.10 0.11 0.00 0.00 1.53 1.59
Growth +17.3% +8.7% −87.8% −19.8% +6.5% −100.0% +4.1%
n/a n/a n/a 0.07 0.06 0.05 0.00 0.00 n/a n/a
0.07 0.06 0.07 0.07 0.07 0.06 0.05 0.06 0.06 0.06
0.48 0.61 0.59 0.72 0.81 0.84 1.03 1.07 1.13 1.20
Growth +26.0% −1.9% +20.8% +12.8% +4.0% +22.4% +3.8% +5.8% +6.3%
0.30 0.39 0.34 0.40 0.51 0.56 0.72 0.76 0.81 0.85
0.01 0.01 0.00 0.00 0.00 0.03 0.02 0.00 0.00 0.00
0.29 0.38 0.34 0.39 0.51 0.53 0.68 0.73 0.78 0.83
Growth +31.6% −10.8% +15.1% +29.4% +5.6% +28.2% +7.2% +6.9% +5.2%
Per share
1.62 1.80 1.59 1.82 2.31 2.27 2.71 2.78 2.87 2.95
1.60 1.79 1.58 1.81 2.30 2.26 2.70 2.77 2.87 2.95
Growth +11.9% −11.7% +14.6% +27.1% −1.7% +19.5% +2.6% +3.6% +2.8%
178.6 210.7 213.7 214.7 218.8 235.5 252.7 264.1 272.8 279.6
180.6 212.8 214.8 215.8 219.8 236.2 253.8 265.0 273.5 280.0
Growth +17.8% +1.0% +0.5% +1.8% +7.5% +7.5% +4.4% +3.2% +2.4%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 73.0% a year over five years, and earnings per share grew 5.1% a year.
  • The diluted share count rose 27.4% in five years, which is dilution.
  • Operating margin is down 710.4 points on five years ago, at 75.3%.
  • Profitable in every one of the 10 years on file.