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Side-by-side financial comparison of Polestar Automotive Holding UK PLC (PSNY) and Vici Properties (VICI). Click either name above to swap in a different company.
Vici Properties is the larger business by last-quarter revenue ($1.0B vs $685.2M, roughly 1.5× Polestar Automotive Holding UK PLC). Vici Properties runs the higher net margin — 59.7% vs -44.4%, a 104.1% gap on every dollar of revenue.
Polestar Automotive Holding UK PLC, or simply Polestar, is a Swedish automotive manufacturer that produces electric cars. Principally owned by Li Shufu's PSD Investment, Geely Holding and Volvo Cars, the company is headquartered in Torslanda, outside Gothenburg, Sweden. With an "asset-light" approach in development and manufacturing, Polestar does not have its own manufacturing facility; instead it produces cars in facilities controlled by Volvo or Geely in several countries, including China,...
Vici Properties Inc. is an American real estate investment trust (REIT) specializing in casino and entertainment properties, based in New York City. It was formed in 2017 as a spin-off from Caesars Entertainment Corporation as part of its bankruptcy reorganization. It owns 54 casinos, hotels, and racetracks, four golf courses, and 38 bowling alleys around the United States and Canada.
PSNY vs VICI — Head-to-Head
Income Statement — Q2 FY2023 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $685.2M | $1.0B |
| Net Profit | $-304.1M | $604.8M |
| Gross Margin | -0.1% | 99.3% |
| Operating Margin | -72.6% | 60.2% |
| Net Margin | -44.4% | 59.7% |
| Revenue YoY | — | 3.8% |
| Net Profit YoY | — | -1.6% |
| EPS (diluted) | $-0.14 | $0.57 |
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.
| Q4 25 | — | $1.0B | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | — | $1.0B | ||
| Q1 25 | — | $984.2M | ||
| Q4 24 | — | $976.1M | ||
| Q3 24 | — | $964.7M | ||
| Q2 24 | — | $957.0M | ||
| Q1 24 | — | $951.5M |
| Q4 25 | — | $604.8M | ||
| Q3 25 | — | $762.0M | ||
| Q2 25 | — | $865.1M | ||
| Q1 25 | — | $543.6M | ||
| Q4 24 | — | $614.6M | ||
| Q3 24 | — | $732.9M | ||
| Q2 24 | — | $741.3M | ||
| Q1 24 | — | $590.0M |
| Q4 25 | — | 99.3% | ||
| Q3 25 | — | 99.3% | ||
| Q2 25 | — | 99.3% | ||
| Q1 25 | — | 99.4% | ||
| Q4 24 | — | 99.3% | ||
| Q3 24 | — | 99.3% | ||
| Q2 24 | — | 99.3% | ||
| Q1 24 | — | 99.3% |
| Q4 25 | — | 60.2% | ||
| Q3 25 | — | 77.2% | ||
| Q2 25 | — | 88.3% | ||
| Q1 25 | — | 55.9% | ||
| Q4 24 | — | 64.2% | ||
| Q3 24 | — | 77.4% | ||
| Q2 24 | — | 79.0% | ||
| Q1 24 | — | 63.2% |
| Q4 25 | — | 59.7% | ||
| Q3 25 | — | 75.6% | ||
| Q2 25 | — | 86.4% | ||
| Q1 25 | — | 55.2% | ||
| Q4 24 | — | 63.0% | ||
| Q3 24 | — | 76.0% | ||
| Q2 24 | — | 77.5% | ||
| Q1 24 | — | 62.0% |
| Q4 25 | — | $0.57 | ||
| Q3 25 | — | $0.71 | ||
| Q2 25 | — | $0.82 | ||
| Q1 25 | — | $0.51 | ||
| Q4 24 | — | $0.58 | ||
| Q3 24 | — | $0.70 | ||
| Q2 24 | — | $0.71 | ||
| Q1 24 | — | $0.57 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.1B | $608.0M |
| Total DebtLower is stronger | $1.6B | $16.8B |
| Stockholders' EquityBook value | $-456.3M | $27.8B |
| Total Assets | $4.3B | $46.7B |
| Debt / EquityLower = less leverage | — | 0.60× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $608.0M | ||
| Q3 25 | — | $507.5M | ||
| Q2 25 | — | $233.0M | ||
| Q1 25 | — | $334.3M | ||
| Q4 24 | — | $524.6M | ||
| Q3 24 | — | $355.7M | ||
| Q2 24 | — | $347.2M | ||
| Q1 24 | — | $514.9M |
| Q4 25 | — | $16.8B | ||
| Q3 25 | — | $16.8B | ||
| Q2 25 | — | $16.9B | ||
| Q1 25 | — | $16.8B | ||
| Q4 24 | — | $16.7B | ||
| Q3 24 | — | $16.7B | ||
| Q2 24 | — | $16.7B | ||
| Q1 24 | — | $16.7B |
| Q4 25 | — | $27.8B | ||
| Q3 25 | — | $27.7B | ||
| Q2 25 | — | $27.0B | ||
| Q1 25 | — | $26.6B | ||
| Q4 24 | — | $26.5B | ||
| Q3 24 | — | $26.1B | ||
| Q2 24 | — | $25.7B | ||
| Q1 24 | — | $25.4B |
| Q4 25 | — | $46.7B | ||
| Q3 25 | — | $46.5B | ||
| Q2 25 | — | $46.1B | ||
| Q1 25 | — | $45.5B | ||
| Q4 24 | — | $45.4B | ||
| Q3 24 | — | $44.9B | ||
| Q2 24 | — | $44.5B | ||
| Q1 24 | — | $44.2B |
| Q4 25 | — | 0.60× | ||
| Q3 25 | — | 0.61× | ||
| Q2 25 | — | 0.63× | ||
| Q1 25 | — | 0.63× | ||
| Q4 24 | — | 0.63× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.65× | ||
| Q1 24 | — | 0.66× |
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 | $-666.7M | $691.9M |
| Free Cash FlowOCF − Capex | $-709.7M | — |
| FCF MarginFCF / Revenue | -103.6% | — |
| Capex IntensityCapex / Revenue | 6.3% | — |
| Cash ConversionOCF / Net Profit | — | 1.14× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $691.9M | ||
| Q3 25 | — | $586.3M | ||
| Q2 25 | — | $639.9M | ||
| Q1 25 | — | $591.9M | ||
| Q4 24 | — | $644.1M | ||
| Q3 24 | — | $579.1M | ||
| Q2 24 | — | $614.6M | ||
| Q1 24 | — | $543.7M |
| Q4 25 | — | 1.14× | ||
| Q3 25 | — | 0.77× | ||
| Q2 25 | — | 0.74× | ||
| Q1 25 | — | 1.09× | ||
| Q4 24 | — | 1.05× | ||
| Q3 24 | — | 0.79× | ||
| Q2 24 | — | 0.83× | ||
| Q1 24 | — | 0.92× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PSNY
Segment breakdown not available.
VICI
| Fixed Rent | $504.3M | 50% |
| Other | $478.4M | 47% |
| Contingent Rent | $30.4M | 3% |
