VONOVIA SE (VNA.DE) Stock Fundamental Analysis

FRA:VNA • DE000A1ML7J1

27.55 EUR
+0.09 (+0.33%)
Last: Feb 23, 2026, 05:36 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

4

VNA gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 67 industry peers in the Real Estate Management & Development industry. There are concerns on the financial health of VNA while its profitability can be described as average. VNA scores decently on growth, while it is valued quite cheap. This could make an interesting combination.


Dividend Valuation Growth Profitability Health

5

1. Profitability

1.1 Basic Checks

  • In the past year VNA was profitable.
  • VNA had a positive operating cash flow in the past year.
  • In multiple years VNA reported negative net income over the last 5 years.
  • VNA had a positive operating cash flow in each of the past 5 years.
VNA.DE Yearly Net Income VS EBIT VS OCF VS FCFVNA.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B -5B

1.2 Ratios

  • VNA has a Return On Assets of 3.05%. This is in the better half of the industry: VNA outperforms 73.13% of its industry peers.
  • With an excellent Return On Equity value of 10.73%, VNA belongs to the best of the industry, outperforming 86.57% of the companies in the same industry.
  • The Return On Invested Capital of VNA (1.71%) is comparable to the rest of the industry.
  • The Average Return On Invested Capital over the past 3 years for VNA is below the industry average of 3.94%.
Industry RankSector Rank
ROA 3.05%
ROE 10.73%
ROIC 1.71%
ROA(3y)-2.82%
ROA(5y)-0.23%
ROE(3y)-10.09%
ROE(5y)-2.01%
ROIC(3y)1.79%
ROIC(5y)3.74%
VNA.DE Yearly ROA, ROE, ROICVNA.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 -20

1.3 Margins

  • VNA has a Profit Margin of 53.84%. This is amongst the best in the industry. VNA outperforms 82.09% of its industry peers.
  • Looking at the Operating Margin, with a value of 39.09%, VNA is in the better half of the industry, outperforming 67.16% of the companies in the same industry.
  • VNA's Operating Margin has declined in the last couple of years.
  • The Gross Margin of VNA (68.51%) is better than 64.18% of its industry peers.
  • VNA's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 39.09%
PM (TTM) 53.84%
GM 68.51%
OM growth 3Y-19.15%
OM growth 5Y-10.93%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-10.19%
GM growth 5Y-5.86%
VNA.DE Yearly Profit, Operating, Gross MarginsVNA.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50 -100

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ROAROEROICOperating and Profit MarginShow most profitable peers

1

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so VNA is destroying value.
  • The number of shares outstanding for VNA has been increased compared to 1 year ago.
  • The number of shares outstanding for VNA has been increased compared to 5 years ago.
  • Compared to 1 year ago, VNA has a worse debt to assets ratio.
VNA.DE Yearly Shares OutstandingVNA.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B
VNA.DE Yearly Total Debt VS Total AssetsVNA.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B 80B 100B

2.2 Solvency

  • VNA has an Altman-Z score of 0.66. This is a bad value and indicates that VNA is not financially healthy and even has some risk of bankruptcy.
  • VNA has a worse Altman-Z score (0.66) than 62.69% of its industry peers.
  • VNA has a debt to FCF ratio of 21.28. This is a negative value and a sign of low solvency as VNA would need 21.28 years to pay back of all of its debts.
  • VNA's Debt to FCF ratio of 21.28 is in line compared to the rest of the industry. VNA outperforms 59.70% of its industry peers.
  • VNA has a Debt/Equity ratio of 1.42. This is a high value indicating a heavy dependency on external financing.
  • VNA's Debt to Equity ratio of 1.42 is on the low side compared to the rest of the industry. VNA is outperformed by 67.16% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.42
Debt/FCF 21.28
Altman-Z 0.66
ROIC/WACC0.5
WACC3.42%
VNA.DE Yearly LT Debt VS Equity VS FCFVNA.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B 40B

2.3 Liquidity

  • VNA has a Current Ratio of 0.80. This is a bad value and indicates that VNA is not financially healthy enough and could expect problems in meeting its short term obligations.
  • VNA's Current ratio of 0.80 is on the low side compared to the rest of the industry. VNA is outperformed by 67.16% of its industry peers.
  • A Quick Ratio of 0.57 indicates that VNA may have some problems paying its short term obligations.
  • VNA's Quick ratio of 0.57 is in line compared to the rest of the industry. VNA outperforms 43.28% of its industry peers.
Industry RankSector Rank
Current Ratio 0.8
Quick Ratio 0.57
VNA.DE Yearly Current Assets VS Current LiabilitesVNA.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. Growth

3.1 Past

  • VNA shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 154.05%, which is quite impressive.
  • Measured over the past years, VNA shows a very strong growth in Earnings Per Share. The EPS has been growing by 21.13% on average per year.
  • The Revenue has grown by 10.40% in the past year. This is quite good.
  • Measured over the past years, VNA shows a decrease in Revenue. The Revenue has been decreasing by -6.20% on average per year.
EPS 1Y (TTM)154.05%
EPS 3YN/A
EPS 5Y21.13%
EPS Q2Q%391.23%
Revenue 1Y (TTM)10.4%
Revenue growth 3Y-22.62%
Revenue growth 5Y-6.2%
Sales Q2Q%-3.64%

3.2 Future

  • VNA is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 20.51% yearly.
  • Based on estimates for the next years, VNA will show a decrease in Revenue. The Revenue will decrease by -1.88% on average per year.
EPS Next Y47.57%
EPS Next 2Y27.08%
EPS Next 3Y20.51%
EPS Next 5YN/A
Revenue Next Year9.19%
Revenue Next 2Y6.45%
Revenue Next 3Y5.72%
Revenue Next 5Y-1.88%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
VNA.DE Yearly Revenue VS EstimatesVNA.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2B 4B 6B 8B 10B
VNA.DE Yearly EPS VS EstimatesVNA.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1 2 3

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Find the best growth stocksShow best growing peers

8

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 7.33, the valuation of VNA can be described as very cheap.
  • Compared to the rest of the industry, the Price/Earnings ratio of VNA indicates a rather cheap valuation: VNA is cheaper than 91.04% of the companies listed in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 26.99, VNA is valued rather cheaply.
  • VNA is valuated reasonably with a Price/Forward Earnings ratio of 11.08.
  • Based on the Price/Forward Earnings ratio, VNA is valued cheaper than 80.60% of the companies in the same industry.
  • VNA is valuated cheaply when we compare the Price/Forward Earnings ratio to 28.02, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 7.33
Fwd PE 11.08
VNA.DE Price Earnings VS Forward Price EarningsVNA.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of VNA is on the same level as its industry peers.
  • 68.66% of the companies in the same industry are more expensive than VNA, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 11.55
EV/EBITDA 25.38
VNA.DE Per share dataVNA.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

  • VNA's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • VNA's earnings are expected to grow with 20.51% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.15
PEG (5Y)0.35
EPS Next 2Y27.08%
EPS Next 3Y20.51%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 5.04%, VNA is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 4.46, VNA pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.81, VNA pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.04%

5.2 History

  • The dividend of VNA decreases each year by -4.09%.
Dividend Growth(5Y)-4.09%
Div Incr Years1
Div Non Decr Years2
VNA.DE Yearly Dividends per shareVNA.DE Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 1 2 3

5.3 Sustainability

  • 23.13% of the earnings are spent on dividend by VNA. This is a low number and sustainable payout ratio.
DP23.13%
EPS Next 2Y27.08%
EPS Next 3Y20.51%
VNA.DE Yearly Income VS Free CF VS DividendVNA.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B -2B -4B -6B
VNA.DE Dividend Payout.VNA.DE Dividend Payout, showing the Payout Ratio.VNA.DE Dividend Payout.PayoutRetained Earnings

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Find the best dividend stocksShow peers with best dividend

VONOVIA SE

FRA:VNA (2/23/2026, 5:36:15 PM)

27.55

+0.09 (+0.33%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryReal Estate Management & Development
Earnings (Last)11-05
Earnings (Next)03-19
Inst Owners55.73%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap23.37B
Revenue(TTM)5.20B
Net Income(TTM)2.80B
Analysts74.07
Price Target34.29 (24.46%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.04%
Yearly Dividend0.31
Dividend Growth(5Y)-4.09%
DP23.13%
Div Incr Years1
Div Non Decr Years2
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)224.83%
Min EPS beat(2)0.69%
Max EPS beat(2)448.97%
EPS beat(4)3
Avg EPS beat(4)84.66%
Min EPS beat(4)-165.18%
Max EPS beat(4)448.97%
EPS beat(8)5
Avg EPS beat(8)31.23%
EPS beat(12)8
Avg EPS beat(12)22.29%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)2
Avg Revenue beat(2)51.46%
Min Revenue beat(2)51.27%
Max Revenue beat(2)51.65%
Revenue beat(4)4
Avg Revenue beat(4)52.15%
Min Revenue beat(4)51.27%
Max Revenue beat(4)54.12%
Revenue beat(8)7
Avg Revenue beat(8)45.82%
Revenue beat(12)11
Avg Revenue beat(12)49.45%
Revenue beat(16)15
Avg Revenue beat(16)66.82%
PT rev (1m)-1.62%
PT rev (3m)-2.72%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-0.42%
EPS NY rev (1m)0%
EPS NY rev (3m)5.64%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.01%
Revenue NY rev (1m)0.93%
Revenue NY rev (3m)2.62%
Valuation
Industry RankSector Rank
PE 7.33
Fwd PE 11.08
P/S 4.5
P/FCF 11.55
P/OCF 8.64
P/B 0.9
P/tB 0.95
EV/EBITDA 25.38
EPS(TTM)3.76
EY13.65%
EPS(NY)2.49
Fwd EY9.03%
FCF(TTM)2.38
FCFY8.66%
OCF(TTM)3.19
OCFY11.57%
SpS6.13
BVpS30.75
TBVpS29.06
PEG (NY)0.15
PEG (5Y)0.35
Graham Number51
Profitability
Industry RankSector Rank
ROA 3.05%
ROE 10.73%
ROCE 2.43%
ROIC 1.71%
ROICexc 1.78%
ROICexgc 1.82%
OM 39.09%
PM (TTM) 53.84%
GM 68.51%
FCFM 38.92%
ROA(3y)-2.82%
ROA(5y)-0.23%
ROE(3y)-10.09%
ROE(5y)-2.01%
ROIC(3y)1.79%
ROIC(5y)3.74%
ROICexc(3y)1.84%
ROICexc(5y)3.81%
ROICexgc(3y)1.87%
ROICexgc(5y)3.91%
ROCE(3y)2.54%
ROCE(5y)5.31%
ROICexgc growth 3Y-34.18%
ROICexgc growth 5Y-23.42%
ROICexc growth 3Y-33.93%
ROICexc growth 5Y-23.25%
OM growth 3Y-19.15%
OM growth 5Y-10.93%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-10.19%
GM growth 5Y-5.86%
F-Score5
Asset Turnover0.06
Health
Industry RankSector Rank
Debt/Equity 1.42
Debt/FCF 21.28
Debt/EBITDA 15.01
Cap/Depr 156.18%
Cap/Sales 13.1%
Interest Coverage 2.35
Cash Conversion 109.56%
Profit Quality 72.29%
Current Ratio 0.8
Quick Ratio 0.57
Altman-Z 0.66
F-Score5
WACC3.42%
ROIC/WACC0.5
Cap/Depr(3y)180.71%
Cap/Depr(5y)169.46%
Cap/Sales(3y)9.41%
Cap/Sales(5y)7.03%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)154.05%
EPS 3YN/A
EPS 5Y21.13%
EPS Q2Q%391.23%
EPS Next Y47.57%
EPS Next 2Y27.08%
EPS Next 3Y20.51%
EPS Next 5YN/A
Revenue 1Y (TTM)10.4%
Revenue growth 3Y-22.62%
Revenue growth 5Y-6.2%
Sales Q2Q%-3.64%
Revenue Next Year9.19%
Revenue Next 2Y6.45%
Revenue Next 3Y5.72%
Revenue Next 5Y-1.88%
EBIT growth 1Y-12.88%
EBIT growth 3Y-37.44%
EBIT growth 5Y-16.45%
EBIT Next Year11.08%
EBIT Next 3Y7.83%
EBIT Next 5YN/A
FCF growth 1Y84.61%
FCF growth 3Y9.27%
FCF growth 5Y5.54%
OCF growth 1Y43.98%
OCF growth 3Y9.83%
OCF growth 5Y9.07%

VONOVIA SE / VNA.DE FAQ

What is the ChartMill fundamental rating of VONOVIA SE (VNA.DE) stock?

ChartMill assigns a fundamental rating of 4 / 10 to VNA.DE.


What is the valuation status of VONOVIA SE (VNA.DE) stock?

ChartMill assigns a valuation rating of 8 / 10 to VONOVIA SE (VNA.DE). This can be considered as Undervalued.


How profitable is VONOVIA SE (VNA.DE) stock?

VONOVIA SE (VNA.DE) has a profitability rating of 5 / 10.


What is the valuation of VONOVIA SE based on its PE and PB ratios?

The Price/Earnings (PE) ratio for VONOVIA SE (VNA.DE) is 7.33 and the Price/Book (PB) ratio is 0.9.


How sustainable is the dividend of VONOVIA SE (VNA.DE) stock?

The dividend rating of VONOVIA SE (VNA.DE) is 6 / 10 and the dividend payout ratio is 23.13%.