Gaming & Leisure Properties, Inc. GLPI

Real estate SIC 6798 - Real Estate Investment Trusts NAICS Real Estate and Rental and Leasing › Real Estate › Lessors of Real Estate derived Nasdaq

GLPI is a self-administered and self-managed Pennsylvania REIT. GLPI was incorporated on February 13, 2013, as a wholly-owned subsidiary of PENN Entertainment, Inc., formerly known as Penn National Gaming, Inc. (NASDAQ: PENN) ("PENN"). On November 1, 2013, PENN contributed to the Company, through a series of internal corporate restructurings, substantially all of the assets and liabilities associated with PENN's real property interests and real estate development business, as well as the assets and liabilities of Hollywood Casino Baton Rouge and Hollywood Casino Perryville (which are referred to as the "TRS Properties") and then spun-off GLPI to holders of PENN's common and preferred stock in a tax-free distribution (the "Spin-Off").

Last close 39.55 2026-10-23
Market cap $11.51B 2026-06-30 share count
52-week range 37.33 - 49.95

Valuation FY2025 figures against the last close

P/S7.2x
P/E13.4x
P/FCF10.2x
EV/EBITDA12.5x
Dividend yield7.6%
Diluted EPS2.95

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $1.59B$1.53B$0$0$109.7M$103.0M$128.4M$1.06B$971.3M$828.3M
Cost of revenue ——$0$0$53.0M$56.7M$74.7M———
Gross profit ——$0$0$56.7M$46.3M$53.7M———
SG&A $63.5M$59.6M$56.5M$51.3M$61.2M$68.6M$65.4M$70.8M$63.2M$71.4M
Total operating expenses $393.3M$400.9M$371.7M$281.8M$374.6M$343.9M$436.1M$461.9M$365.8M$347.6M
Operating income $1.20B$1.13B$1.07B$1.03B$841.8M$809.3M$717.4M$593.8M$605.5M$480.6M
Interest expense $373.9M$366.9M$323.4M$309.3M$283.0M$282.1M$301.5M$247.7M$217.1M$185.9M
Pre-tax income $852.6M$809.8M$757.4M$720.3M$562.4M$509.6M$395.6M$344.5M$390.4M$296.9M
Income tax $2.2M$2.1M$2.0M$17.1M$28.3M$3.9M$4.8M$5.0M$9.8M$7.5M
Net income $825$785$734$685$534$505.7M$390.9M$339.5M$380.6M$289.3M
EPS, basic 2.952.872.782.712.272.311.821.591.801.62
EPS, diluted 2.952.872.772.702.262.301.811.581.791.60
Shares, diluted (wtd. avg.) 280.0M273.5M265.0M253.8M236.2M219.8M215.8M214.8M212.8M180.6M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $224.3M$462.6M$684.0M$239.1M$724.6M$486.5M$26.8M$25.8M$29.1M$36.6M
Short-term investments $0$560.8M$0———————
Property, plant and equipment ————$13.0M$80.6M$94.1M$100.9M$108.3M$119.4M
Goodwill —————$0$16.1M$16.1M$75.5M$75.5M
Other intangibles —————$0$9.6M$9.6M$9.6M$9.6M
Total assets $12.91B$13.08B$11.81B$10.93B$10.69B$9.03B$8.43B$8.58B$7.25B$7.37B
Short-term debt —————————$112.0K
Long-term debt $7.20B$7.74B$6.63B$6.13B$6.55B$5.75B—$5.85B$4.44B$4.66B
Total liabilities $7.90B$8.43B$7.30B$6.81B$7.30B$6.36B$6.36B$6.31B$4.79B$4.94B
Retained earnings -$1.99B-$1.94B-$1.90B-$1.80B-$1.77B-$1.61B-$1.89B-$1.69B-$1.48B-$1.33B
Total equity $4.63B$4.27B$4.51B$4.12B$3.39B$2.68B$2.07B$2.27B$2.46B$2.43B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $1.13B$1.07B$1.01B$920.1M$803.8M$428.1M$750.3M$654.4M$598.7M$514.4M
Depreciation and amortisation $282.9M$273.4M$276.4M$254.5M$252.0M$243.0M$259.0M$148.4M$123.8M$115.7M
Stock-based compensation $21.2M$24.3M$22.9M$20.4M$16.8M$20.0M$16.2M$11.2M$15.6M$18.3M
Capital expenditure —$134.0K$67.0K$159.0K$2.3M$3.1M$0$20.0K$78.0K$330.0K
Investing cash flow -$308.8M-$1.61B-$650.8M-$354.5M-$1.03B-$9.5M-$2.8M-$1.51B$698.0K-$3.22B
Financing cash flow -$1.06B$311.8M$86.4M-$1.05B$443.1M$63.2M-$746.4M$852.1M-$606.9M$2.70B
Dividends paid $871.9M$830.7M$834.0M$770.9M$156.9M$151.3M$150.6M$146.0M$134.6M$134.5M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-177324.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 500M 1B 1.5B 2B Revenue, FY2016: 828.3M Net income, FY2016: 289.3M Revenue, FY2017: 971.3M Net income, FY2017: 380.6M Revenue, FY2018: 1.1B Net income, FY2018: 339.5M Revenue, FY2019: 128.4M Gross profit, FY2019: 53.7M Net income, FY2019: 390.9M Revenue, FY2020: 103M Gross profit, FY2020: 46.3M Net income, FY2020: 505.7M Revenue, FY2021: 109.7M Gross profit, FY2021: 56.7M Net income, FY2021: 534 Revenue, FY2022: 0 Gross profit, FY2022: 0 Net income, FY2022: 684.7 Revenue, FY2023: 0 Gross profit, FY2023: 0 Net income, FY2023: 734.3 Revenue, FY2024: 1.5B Net income, FY2024: 784.6 Revenue, FY2025: 1.6B Net income, FY2025: 825.1 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $828.3M $971.3M $1.06B $128.4M $103.0M $109.7M $0 $0 $1.53B $1.59B
Gross profit — — — $53.7M $46.3M $56.7M $0 $0 — —
Net income $289.3M $380.6M $339.5M $390.9M $505.7M $534 $685 $734 $785 $825

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • New debt or obligation Item 2.03
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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