GLPI
Gaming and Leisure Properties, Inc.
GLPI's fundamentals are strong and it looks cheap: trading at 12x earnings, below its usual 18x. Analysts expect earnings growth.
GLPI Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
GLPI's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for real estate companies like GLPI.
GLPI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 12x | $39.10 | — |
| Forward | 12x | $39.10 | — |
| Cheap | 16x | $52.73 | +35% |
| Fair | 18x | $58.31 | +49% |
| Expensive | 21x | $67.92 | +74% |
Historical ranges are pointers, not guarantees.
GLPI's PE is in its cheap range at 11.9x. On analysts' estimates for next year's earnings, today's price would be 11.9x.
GLPI Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Weakening | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for GLPI, but weaker profitability.
GLPI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.28 | -0.3% |
| Q3 2026 | $3.29 | +18% |
| Q2 2026 | $3.43 | +32% |
| Q1 2026 | $3.17 | +12% |
| Q4 2025 | $2.95 | +2.8% |
| Q3 2025 | $2.78 | -2.8% |
| Q2 2025 | $2.60 | -10% |
| Q1 2025 | $2.83 | +4.4% |
| Q4 2024 | $2.87 | +3.6% |
GLPI earned $3.29 per share over the past year, up 18% from the year before.
GLPI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $435.4M | +9.5% |
| Q2 2026 | $430.5M | +9% |
| Q1 2026 | $420M | +6.3% |
| Q4 2025 | $407M | +4.5% |
| Q3 2025 | $397.6M | +3.2% |
| Q2 2025 | $394.9M | +3.7% |
| Q1 2025 | $395.2M | +5.1% |
| Q4 2024 | $389.6M | +5.6% |
GLPI's revenue has grown year over year for 19 quarters in a row: $435M last quarter, up 9.5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 71% | -14 points |
| Q2 2026 | 77% | +16 points |
| Q1 2026 | 79% | +14 points |
| Q4 2025 | 89% | +10 points |
| Q3 2025 | 85% | +14 points |
| Q2 2025 | 61% | -16 points |
| Q1 2025 | 65% | -3 points |
| Q4 2024 | 79% | -0.9 points |
GLPI's operating margin was 71% last quarter, down 14 points from the same quarter a year ago.
GLPI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $279.7M | +53% |
| Q2 2026 | $452M | +66% |
| Q1 2026 | $158.8M | -34% |
| Q4 2025 | $96.3M | -69% |
| Q3 2025 | $183M | -30% |
| Q2 2025 | $272.3M | +11% |
| Q1 2025 | $239.6M | -7.1% |
| Q4 2024 | $308.2M | +17% |
GLPI's free cash flow was $987M over the past year, down 1.6% from the year before. Free cash flow isn't a meaningful measure for real estate companies like GLPI.
GLPI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.8% | +5.2M shares |
| 1 year | +2.7% | +7.6M shares |
| 3 years | +10% | +26.9M shares |
| 5 years | +23% | +54.9M shares |
| Available history | +32% | +70.1M shares |
GLPI has 291M diluted shares, up 2.7% from a year ago.
GLPI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.9x | High |
| Q2 2026 | 4.7x | High |
| Q1 2026 | 5.0x | High |
| Q4 2025 | 4.7x | High |
| Q3 2025 | 4.5x | High |
| Q2 2025 | 4.6x | High |
| Q1 2025 | 4.8x | High |
| Q4 2024 | 5.2x | High |
GLPI's net debt is about 4.9 years of its operating earnings (EBITDA), up from 4.5 years a year ago. Net leverage isn't a meaningful measure for real estate companies like GLPI.
GLPI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 35.8 | Neutral |
| Stochastic | 20.9 | Neutral |
GLPI's weekly RSI is 36 (neutral) and its Stochastic is 21 (neutral).
GLPI PE vs Real Estate Sector
| Metric | GLPI | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 24x | 50% below |
| PE % | 3 | 23 | 20 pts below |
GLPI is trading at 12x earnings, a 50% discount to the Real Estate sector's median of 24x.
GLPI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $38.8 | 0.7% above |
| 20 week MA | $41.4 | 5.6% below |
| 50 week MA | $44.2 | 12% below |
| 100 week MA | $45.7 | 14% below |
| 200 week MA | $46.9 | 17% below |
GLPI has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 17% below its 200-week average.
GLPI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $42.9 | $43.0 | +0.4% |
| 2021 | $43.0 | $46.5 | +8.1% |
| 2022 | $46.5 | $52.5 | +13% |
| 2023 | $52.5 | $49.4 | -5.9% |
| 2024 | $49.4 | $47.9 | -3% |
| 2025 | $47.9 | $44.6 | -6.7% |
| 2026 YTD | $44.6 | $39.1 | -12% |
GLPI has finished three years in a row lower, and it's down 12% so far in 2026.