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Side-by-side financial comparison of Gaming & Leisure Properties, Inc. (GLPI) and TIC Solutions, Inc. (TIC). Click either name above to swap in a different company.
TIC Solutions, Inc. is the larger business by last-quarter revenue ($508.3M vs $420.0M, roughly 1.2× Gaming & Leisure Properties, Inc.). Gaming & Leisure Properties, Inc. runs the higher net margin — 57.0% vs -9.3%, a 66.3% gap on every dollar of revenue.
Gaming and Leisure Properties, Inc. is a real estate investment trust (REIT) specializing in casino properties, based in Wyomissing, Pennsylvania. It was formed in November 2013 as a corporate spin-off from Penn National Gaming. The company owns 62 casino properties, all of which are leased to other companies.
GLPI vs TIC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $420.0M | $508.3M |
| Net Profit | $239.4M | $-47.2M |
| Gross Margin | — | 35.2% |
| Operating Margin | 79.4% | -3.8% |
| Net Margin | 57.0% | -9.3% |
| Revenue YoY | 6.3% | — |
| Net Profit YoY | 40.5% | — |
| EPS (diluted) | — | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $420.0M | — | ||
| Q4 25 | $407.0M | $508.3M | ||
| Q3 25 | $397.6M | $473.9M | ||
| Q2 25 | $394.9M | $313.9M | ||
| Q1 25 | $395.2M | $234.2M | ||
| Q4 24 | $389.6M | — | ||
| Q3 24 | $385.3M | — | ||
| Q2 24 | $380.6M | — |
| Q1 26 | $239.4M | — | ||
| Q4 25 | $275.4M | $-47.2M | ||
| Q3 25 | $241.2M | $-13.9M | ||
| Q2 25 | $151.4M | $-233.0K | ||
| Q1 25 | $165.2M | $-25.8M | ||
| Q4 24 | $223.6M | — | ||
| Q3 24 | $184.7M | — | ||
| Q2 24 | $208.3M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 35.2% | ||
| Q3 25 | — | 32.2% | ||
| Q2 25 | — | 23.6% | ||
| Q1 25 | — | 18.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | 79.4% | — | ||
| Q4 25 | 89.3% | -3.8% | ||
| Q3 25 | 84.8% | -1.4% | ||
| Q2 25 | 61.3% | 5.8% | ||
| Q1 25 | 65.5% | -4.0% | ||
| Q4 24 | 79.1% | — | ||
| Q3 24 | 70.4% | — | ||
| Q2 24 | 77.1% | — |
| Q1 26 | 57.0% | — | ||
| Q4 25 | 67.6% | -9.3% | ||
| Q3 25 | 60.7% | -2.9% | ||
| Q2 25 | 38.4% | -0.1% | ||
| Q1 25 | 41.8% | -11.0% | ||
| Q4 24 | 57.4% | — | ||
| Q3 24 | 47.9% | — | ||
| Q2 24 | 54.7% | — |
| Q1 26 | — | — | ||
| Q4 25 | $0.96 | — | ||
| Q3 25 | $0.85 | $-0.08 | ||
| Q2 25 | $0.54 | — | ||
| Q1 25 | $0.60 | — | ||
| Q4 24 | $0.79 | — | ||
| Q3 24 | $0.67 | — | ||
| Q2 24 | $0.77 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $274.5M | $439.5M |
| Total DebtLower is stronger | — | $1.6B |
| Stockholders' EquityBook value | $5.0B | $2.2B |
| Total Assets | $13.8B | $4.4B |
| Debt / EquityLower = less leverage | — | 0.74× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $274.5M | — | ||
| Q4 25 | — | $439.5M | ||
| Q3 25 | — | $164.4M | ||
| Q2 25 | — | $130.1M | ||
| Q1 25 | — | $155.7M | ||
| Q4 24 | $560.8M | — | ||
| Q3 24 | $560.8M | — | ||
| Q2 24 | $560.8M | — |
| Q1 26 | — | — | ||
| Q4 25 | $7.2B | $1.6B | ||
| Q3 25 | $7.2B | $1.6B | ||
| Q2 25 | $6.9B | $751.3M | ||
| Q1 25 | $6.9B | $752.4M | ||
| Q4 24 | $7.7B | — | ||
| Q3 24 | $7.4B | — | ||
| Q2 24 | $6.6B | — |
| Q1 26 | $5.0B | — | ||
| Q4 25 | $4.6B | $2.2B | ||
| Q3 25 | $4.6B | $2.0B | ||
| Q2 25 | $4.6B | $1.2B | ||
| Q1 25 | $4.2B | $1.1B | ||
| Q4 24 | $4.3B | — | ||
| Q3 24 | $4.3B | — | ||
| Q2 24 | $4.1B | — |
| Q1 26 | $13.8B | — | ||
| Q4 25 | $12.9B | $4.4B | ||
| Q3 25 | $12.8B | $4.2B | ||
| Q2 25 | $12.5B | $2.2B | ||
| Q1 25 | $12.1B | $2.2B | ||
| Q4 24 | $13.1B | — | ||
| Q3 24 | $12.7B | — | ||
| Q2 24 | $11.8B | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.56× | 0.74× | ||
| Q3 25 | 1.57× | 0.83× | ||
| Q2 25 | 1.51× | 0.64× | ||
| Q1 25 | 1.63× | 0.67× | ||
| Q4 24 | 1.81× | — | ||
| Q3 24 | 1.74× | — | ||
| Q2 24 | 1.60× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $49.7M |
| Free Cash FlowOCF − Capex | — | $37.1M |
| FCF MarginFCF / Revenue | — | 7.3% |
| Capex IntensityCapex / Revenue | — | 2.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $61.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $49.7M | ||
| Q3 25 | $240.3M | $19.0M | ||
| Q2 25 | $293.4M | $-6.5M | ||
| Q1 25 | $252.5M | $32.8M | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $270.4M | — | ||
| Q2 24 | $252.1M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $37.1M | ||
| Q3 25 | $183.0M | $10.3M | ||
| Q2 25 | $272.3M | $-14.5M | ||
| Q1 25 | $239.6M | $28.3M | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $261.5M | — | ||
| Q2 24 | $245.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 7.3% | ||
| Q3 25 | 46.0% | 2.2% | ||
| Q2 25 | 69.0% | -4.6% | ||
| Q1 25 | 60.6% | 12.1% | ||
| Q4 24 | 275.3% | — | ||
| Q3 24 | 67.9% | — | ||
| Q2 24 | 64.4% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.5% | ||
| Q3 25 | 14.4% | 1.8% | ||
| Q2 25 | 5.3% | 2.6% | ||
| Q1 25 | 3.3% | 1.9% | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 2.3% | — | ||
| Q2 24 | 1.9% | — |
| Q1 26 | — | — | ||
| Q4 25 | 4.10× | — | ||
| Q3 25 | 1.00× | — | ||
| Q2 25 | 1.94× | — | ||
| Q1 25 | 1.53× | — | ||
| Q4 24 | 4.80× | — | ||
| Q3 24 | 1.46× | — | ||
| Q2 24 | 1.21× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GLPI
Segment breakdown not available.
TIC
| Consulting Engineering Segment | $300.1M | 59% |
| Geospatial Segment | $131.3M | 26% |
| Fixed Unit Price Contracts | $54.3M | 11% |
| Other | $22.6M | 4% |
