GLPI financial statements

The full income statement, balance sheet, and cash-flow statement for Gaming and Leisure Properties Inc. (GLPI), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 274.4M2024-09 274.4M2024-12 274.8M2025-03 274.8M2025-06 283.0M2025-09 283.0M2025-12 283.2M2026-03 283.2M2026-06 290.9M+6.0% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	1.59B YoY+4.1%	1.53B YoY+6.3%	1.44B YoY+9.8%	1.31B YoY+7.8%	1.22B YoY+5.5%
Lease income	1.37B YoY+2.8%	1.33B YoY+3.4%	1.29B YoY+9.6%	1.17B YoY+6.0%	1.11B YoY+7.3%
Cost of revenue	—	—	0.00	0.00 YoY-100.0%	53.0M YoY-6.5%
Selling, general & administrative	63.5M YoY+6.6%	59.6M YoY+5.5%	56.5M YoY+10.0%	51.3M YoY-16.2%	61.2M YoY-10.7%
General & administrative	63.5M YoY+6.6%	59.6M YoY+5.5%	56.5M YoY+10.0%	51.3M YoY-16.2%	61.2M YoY-10.7%
Provision for credit losses	8.66M YoY-76.7%	37.3M YoY+476.6%	6.46M YoY-6.3%	6.90M YoY-16.1%	8.23M
Operating income	1.20B YoY+6.3%	1.13B YoY+5.8%	1.07B YoY+3.8%	1.03B YoY+22.4%	842M YoY+4.0%
Interest expense	374M YoY+1.9%	367M YoY+13.5%	323M YoY+4.6%	309M YoY+9.3%	283M YoY+0.3%
Interest & investment income	—	10.8M	0.00	0.00	—
Other non-operating income	-349M YoY-8.7%	-321M YoY-3.1%	-311M YoY-0.6%	-310M YoY-10.8%	-279M YoY+6.8%
Pre-tax income	853M YoY+5.3%	810M YoY+6.9%	757M YoY+5.1%	720M YoY+28.1%	562M YoY+10.4%
Income tax	2.23M YoY+4.7%	2.13M YoY+6.6%	2.00M YoY-88.3%	17.1M YoY-39.8%	28.3M YoY+631.0%
	825M YoY+5.2%	785M YoY+6.9%	734M YoY+7.2%	685M YoY+28.2%	534M YoY+5.6%
Net income to non-controlling interest	25.2M YoY+9.6%	23.0M YoY+9.2%	21.1M YoY+13.2%	18.6M YoY+47674.4%	39.0K
Net income to common	824M YoY+5.1%	784M YoY+6.9%	734M YoY+7.3%	684M YoY+28.2%	534M YoY+5.7%
	$2.95 YoY+2.8%	$2.87 YoY+3.6%	$2.77 YoY+2.6%	$2.70 YoY+19.5%	$2.26 YoY-1.7%
EPS (basic)	$2.95 YoY+2.8%	$2.87 YoY+3.2%	$2.78 YoY+2.6%	$2.71 YoY+19.4%	$2.27 YoY-1.7%
	280M YoY+2.5%	273M YoY+3.3%	264M YoY+4.5%	253M YoY+7.3%	235M YoY+7.6%
	280M YoY+2.4%	274M YoY+3.2%	265M YoY+4.4%	254M YoY+7.5%	236M YoY+7.5%
Dividends per share	$3.10 YoY+2.0%	$3.04 YoY-3.5%	$3.15 YoY+10.5%	$2.85 YoY-0.3%	$2.86 YoY+14.4%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Cash & equivalents	224M YoY-51.5%	463M YoY-32.4%	684M YoY+186.1%	239M YoY-67.0%	725M YoY+49.0%
Short-term investments	0.00 YoY-100.0%	561M	0.00	—	—
	12.9B YoY-1.3%	13.1B YoY+10.8%	11.8B YoY+8.0%	10.9B YoY+2.2%	10.7B YoY+18.3%
Property, plant & equipment	—	—	—	—	13.0M YoY-83.9%
Operating lease right-of-use	1.07B YoY-1.8%	1.09B YoY+30.7%	836M YoY+2152.1%	37.1M YoY-95.6%	852M YoY+10.7%
	7.90B YoY-6.3%	8.43B YoY+15.5%	7.30B YoY+7.1%	6.81B YoY-6.7%	7.30B YoY+14.8%
Long-term debt	7.20B YoY-6.9%	7.74B YoY+16.7%	6.63B YoY+8.1%	6.13B YoY-6.5%	6.55B YoY+13.9%
Operating lease liability (total)	242M YoY-1.0%	245M YoY+24.4%	197M YoY+430.6%	37.1M YoY-30.4%	53.3M YoY-65.0%
Finance lease liability (total)	61.2M YoY+0.7%	60.8M YoY+12.0%	54.3M YoY+0.9%	53.8M YoY+0.9%	53.3M
Deferred tax liabilities	—	—	—	—	0.00 YoY-100.0%
	4.63B YoY+8.4%	4.27B YoY+2.7%	4.16B YoY+0.9%	4.12B YoY+21.5%	3.39B YoY+26.7%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Common stock	2.83M YoY+3.1%	2.74M YoY+1.3%	2.71M YoY+3.9%	2.61M YoY+5.5%	2.47M YoY+6.3%
Additional paid-in capital	6.61B YoY+6.5%	6.21B YoY+2.6%	6.05B YoY+8.6%	5.57B YoY+12.5%	4.95B YoY+15.6%
Retained earnings	-1.99B YoY-2.4%	-1.94B YoY-2.4%	-1.90B YoY-5.5%	-1.80B YoY-1.5%	-1.77B YoY-9.9%
Accumulated other comprehensive income	904K	0.00	—	—	—
Total equity incl. non-controlling	5.01B YoY+7.8%	4.65B YoY+3.0%	4.51B YoY+9.5%	4.12B YoY+21.5%	3.39B YoY+26.7%
Total liabilities & equity	12.9B YoY-1.3%	13.1B YoY+10.8%	11.8B YoY+8.0%	10.9B YoY+2.2%	10.7B YoY+18.3%
	283M YoY+3.1%	274M YoY+1.3%	271M YoY+3.9%	261M YoY+5.5%	247M YoY+6.3%
	283M YoY+3.1%	274M YoY+1.3%	271M YoY+3.9%	261M YoY+5.5%	247M YoY+6.3%
	283M YoY+3.1%	275M YoY+1.2%	272M YoY+3.5%	262M YoY+6.0%	248M YoY+6.3%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	1.13B YoY+5.3%	1.07B YoY+6.3%	1.01B YoY+9.7%	920M YoY+14.5%	804M YoY+87.8%
Depreciation & amortization	283M YoY+3.5%	273M YoY-1.1%	276M YoY+8.6%	255M YoY+1.0%	252M YoY+3.7%
Share-based compensation	21.2M YoY-12.7%	24.3M YoY+6.1%	22.9M YoY+12.0%	20.4M YoY+21.4%	16.8M YoY-15.9%
Deferred income taxes	0.00	0.00	0.00	0.00 YoY-100.0%	5.33M YoY+1080.9%
Change in payables	2.88M YoY+307.1%	-1.39M YoY-213.8%	1.22M YoY+586.9%	-251K YoY+89.1%	-2.30M YoY-83.5%
	-309M YoY+80.8%	-1.61B YoY-146.8%	-651M YoY-83.6%	-354M YoY+65.6%	-1.03B YoY-10765.8%
Capital expenditure	—	134K YoY+100.0%	67.0K YoY-57.9%	159K YoY-98.9%	13.9M YoY+2838.0%
Free cash flow	—	1.07B YoY+6.3%	1.01B YoY+9.7%	920M YoY+16.5%	790M YoY+84.7%
Acquisitions	0.00	0.00	0.00	0.00	0.00
Proceeds from sale of PP&E	125K	0.00	0.00 YoY-100.0%	149M YoY+7025.5%	2.09M YoY+13813.3%
	-1.06B YoY-439.6%	312M YoY+261.1%	86.4M YoY+108.2%	-1.05B YoY-337.2%	443M YoY+601.4%
Long-term debt issued	1.29B YoY-15.1%	1.52B YoY+41.2%	1.08B YoY+154.2%	424M YoY-46.7%	795M YoY-61.7%
Long-term debt repaid	1.83B YoY+293.9%	464M YoY-20.8%	585M YoY-54.0%	1.27B YoY+249.8%	363M YoY-82.5%
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	0.00	0.00	0.00	0.00	0.00
Dividends paid	872M YoY+5.0%	831M YoY-0.4%	834M YoY+8.2%	771M YoY+21.6%	634M YoY+175.0%
Net change in cash	-238M YoY-7.7%	-221M YoY-149.8%	445M YoY+191.6%	-486M YoY-303.9%	238M YoY-48.2%
Interest paid	357M YoY+8.2%	330M YoY+6.5%	310M YoY+8.3%	286M YoY+4.6%	273M YoY+4.7%
Income taxes paid	2.23M YoY-36.8%	3.52M YoY+91.1%	1.84M YoY-91.3%	21.2M YoY+21.1%	17.5M YoY+417.3%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	12.7B YoY-4.4%	13.2B YoY+0.4%	13.2B YoY-1.8%	13.4B YoY+11.4%	12.0B YoY+22.7%
P/E	15.3× YoY-9.1%	16.9× YoY-8.2%	18.4× YoY-16.4%	22.0× YoY-2.5%	22.6× YoY+16.2%
P/S	7.9× YoY-8.2%	8.6× YoY-7.7%	9.4× YoY-11.1%	10.5× YoY+6.4%	9.9× YoY+16.3%
P/B	2.7× YoY-11.8%	3.1× YoY-6.8%	3.3× YoY-10.5%	3.7× YoY+4.7%	3.6× YoY-3.2%
P/FCF	12.2× YoY-1.1%	12.3× YoY-13.9%	14.3× YoY-15.7%	17.0× YoY+11.4%	15.3× YoY-33.6%
	6.5% YoY+10.0%	5.9% YoY+8.9%	5.4% YoY+19.6%	4.5% YoY+2.6%	4.4% YoY-13.9%
	8.2% YoY+1.1%	8.1% YoY+16.1%	7.0% YoY+18.6%	5.9% YoY-10.2%	6.6% YoY+50.6%
	6.9% YoY+9.9%	6.3% YoY-1.1%	6.4% YoY+16.7%	5.5% YoY-6.9%	5.9% YoY-0.8%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: GLPI's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all GLPI filings on SEC EDGAR → Not investment advice.