MARKETS / NASDAQ / GLPI

NASDAQ · REAL ESTATE INVESTMENT TRUSTS · LARGE CAP

Gaming & Leisure Properties, Inc. GLPI

15 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$1.6B

▲ 4.1% YoY

Net income

$825.1M

▲ 5.2% YoY

In brief

What this company does

GLPI's business consists of acquiring, financing and owning real estate that it leases to gaming operators under triple-net lease arrangements. The company also extends loans that produce fixed or variable returns, which may convert into leased rent upon project completion or stabilization. As of December 31, 2025, its portfolio consisted of interests in 69 gaming and related facilities. As of December 31, 2025, it had 20 full-time employees. The company has one reportable segment. GLPI was incorporated on February 13, 2013, as a wholly-owned subsidiary of PENN Entertainment, Inc., formerly known as Penn National Gaming, Inc.

Written from the business description in Gaming and Leisure Properties, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 19 February 2026. Every sentence was checked against that document before publication.

Growth

USD 1.6B

Revenue, FY2025 · full 15-year series below

Revenue $B Net income $B

FY2025 · Revenue 1.6 · Net income 0.8

Compound annual growth

Revenue

+73.0%

+10.7%

Net income

+6.4%

+10.3%

+20.5%

EPS, diluted

+3.0%

+5.1%

Dividend / share

+2.8%

+4.4%

Returned to shareholders

+4.2%

+30.5%

+13.2%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +73.0% a year over five years — but profit grew slower: net income at +10.3%, earnings per share at +5.1%.

The share count rose from 0.23B to 0.28B over the period.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

53 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 75.3% · Net 53.3%

ROE

FY2025 · ROE 18.6%

Gross margin99.9%

Operating margin75.3%

Net margin53.3%

Return on assets6.5%

EBITDAUSD 1.5B

Each USD of equity produced 19 cents of profit this year.

Cash & shareholders

USD 871.9M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2021 · FCF 789.9

Net buybacks $M Dividends $M

FY2025 · Dividends 871.9 · Net buybacks —

Dividends paidUSD 871.9M

Net buybacks—

Share of profit105.7%

Consecutive raises1 years

USD 871.9M in dividends — 106% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 12.9B

EquityUSD 4.6B

CashUSD 224.3M

Gross debtUSD 7.2B

Net debtUSD 7.0B

Net debt stands at 151% of equity.

The 15-year record

15 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Revenue $B	1.6	1.5	0.0	0.0	0.1	0.1	0.1	1.1	1.0	0.8	0.6	0.6	0.2	0.2	0.2
Operating income $B	1.2	1.1	1.1	1.0	0.8	0.8	0.7	0.6	0.6	0.5	0.3	0.3	0.1	0.0	0.1
EBITDA $B	1.5	1.4	1.3	1.3	1.1	1.1	1.0	0.7	0.7	0.6	0.4	0.4	0.1	0.1	0.1
Income tax $B	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net income $B	0.8	0.8	0.7	0.7	0.5	0.5	0.4	0.3	0.4	0.3	0.1	0.1	0.0	0.0	0.0
Free cash flow $B	·	·	·	·	0.8	0.4	0.8	0.7	0.6	0.5	0.3	0.1	0.1	0.0	0.1
EPS, diluted $	2.95	2.87	2.77	2.70	2.26	2.30	1.81	1.58	1.79	1.60	1.08	1.18	0.13	0.20	0.23
Dividend / sh $	3.10	3.04	3.15	2.85	2.86	2.50	2.74	2.57	2.50	2.32	2.18	2.48	·	·	·
Payout %	106	106	114	113	119	46	151	162	139	148	196	356	0	0	·
ROE %	18.6	18.6	17.7	18.2	17.6	21.3	18.0	14.4	15.6	26.5	·	·	7.9	10.0	12.1
Shares out B	0.28	0.27	0.27	0.26	0.25	0.23	0.21	0.21	0.21	·	·	·	·	·	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 44 reconciliationsAUDITED

Reconciled in 15 of 19 fiscal years. 19 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityReal Estate Investment Trusts

Listed onNASDAQ

Incorporated inPennsylvania

Fiscal year endsDecember 7

Data on record since2011