VONOVIA SE (VNA.DE) Stock Fundamental Analysis

Europe • Frankfurt Stock Exchange • FRA:VNA • DE000A1ML7J1

24.72 EUR
-0.06 (-0.24%)
Last: Feb 9, 2026, 05:35 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to VNA. VNA was compared to 67 industry peers in the Real Estate Management & Development industry. While VNA is still in line with the averages on profitability rating, there are concerns on its financial health. A decent growth rate in combination with a cheap valuation! Better keep an eye on VNA.


Dividend Valuation Growth Profitability Health

5

1. Profitability

1.1 Basic Checks

  • VNA had positive earnings in the past year.
  • VNA had a positive operating cash flow in the past year.
  • The reported net income has been mixed in the past 5 years: VNA reported negative net income in multiple years.
  • In the past 5 years VNA always reported a positive cash flow from operatings.
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

  • Looking at the Return On Assets, with a value of 3.05%, VNA is in the better half of the industry, outperforming 74.63% of the companies in the same industry.
  • 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.
  • Looking at the Return On Invested Capital, with a value of 1.71%, VNA is in line with its industry, outperforming 52.24% of the companies in the same industry.
  • VNA had an Average Return On Invested Capital over the past 3 years of 1.79%. This is below the industry average of 4.00%.
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

  • The Profit Margin of VNA (53.84%) is better than 85.07% 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 65.67% of the companies in the same industry.
  • VNA's Operating Margin has declined in the last couple of years.
  • Looking at the Gross Margin, with a value of 68.51%, VNA is in the better half of the industry, outperforming 61.19% of the companies in the same industry.
  • In the last couple of years the Gross Margin of VNA has declined.
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.
  • VNA has more shares outstanding than it did 1 year ago.
  • The number of shares outstanding for VNA has been increased compared to 5 years ago.
  • VNA has a worse debt/assets ratio than last year.
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

  • Based on the Altman-Z score of 0.64, we must say that VNA is in the distress zone and has some risk of bankruptcy.
  • The Altman-Z score of VNA (0.64) is worse than 64.18% of its industry peers.
  • The Debt to FCF ratio of VNA is 21.28, which is on the high side as it means it would take VNA, 21.28 years of fcf income to pay off all of its debts.
  • With a Debt to FCF ratio value of 21.28, VNA perfoms like the industry average, outperforming 56.72% of the companies in the same industry.
  • A Debt/Equity ratio of 1.42 is on the high side and indicates that VNA has dependencies on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 1.42, VNA is doing worse than 68.66% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.42
Debt/FCF 21.28
Altman-Z 0.64
ROIC/WACC0.52
WACC3.28%
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.
  • Looking at the Current ratio, with a value of 0.80, VNA is doing worse than 67.16% of the companies in the same industry.
  • VNA has a Quick 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 has a Quick ratio of 0.57. This is comparable to the rest of the industry: VNA outperforms 41.79% 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

  • The Earnings Per Share has grown by an impressive 154.05% over the past year.
  • VNA shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 21.13% yearly.
  • The Revenue has grown by 10.40% in the past year. This is quite good.
  • The Revenue has been decreasing by -6.20% on average over the past years.
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

  • The Earnings Per Share is expected to grow by 20.51% on average over the next years. This is a very strong growth
  • 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 Year8.18%
Revenue Next 2Y4.9%
Revenue Next 3Y4.69%
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.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
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

  • With a Price/Earnings ratio of 6.57, the valuation of VNA can be described as very cheap.
  • 92.54% of the companies in the same industry are more expensive than VNA, based on the Price/Earnings ratio.
  • VNA's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 28.06.
  • VNA is valuated reasonably with a Price/Forward Earnings ratio of 9.94.
  • 83.58% of the companies in the same industry are more expensive than VNA, based on the Price/Forward Earnings ratio.
  • VNA is valuated cheaply when we compare the Price/Forward Earnings ratio to 27.86, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 6.57
Fwd PE 9.94
VNA.DE Price Earnings VS Forward Price EarningsVNA.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as VNA.
  • VNA's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. VNA is cheaper than 68.66% of the companies in the same industry.
Industry RankSector Rank
P/FCF 10.36
EV/EBITDA 24.45
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.
  • A more expensive valuation may be justified as VNA's earnings are expected to grow with 20.51% in the coming years.
PEG (NY)0.14
PEG (5Y)0.31
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 4.45, VNA pays a bit more dividend than its industry peers.
  • VNA's Dividend Yield is rather good when compared to the S&P500 average which is at 1.80.
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 (2/9/2026, 5:35:30 PM)

24.72

-0.06 (-0.24%)

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 Cap20.96B
Revenue(TTM)5.20B
Net Income(TTM)2.80B
Analysts72.59
Price Target34.29 (38.71%)
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)-1.84%
PT rev (3m)-3.02%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0.64%
EPS NY rev (1m)0.22%
EPS NY rev (3m)5.64%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.06%
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.67%
Valuation
Industry RankSector Rank
PE 6.57
Fwd PE 9.94
P/S 4.03
P/FCF 10.36
P/OCF 7.75
P/B 0.8
P/tB 0.85
EV/EBITDA 24.45
EPS(TTM)3.76
EY15.21%
EPS(NY)2.49
Fwd EY10.06%
FCF(TTM)2.39
FCFY9.65%
OCF(TTM)3.19
OCFY12.9%
SpS6.13
BVpS30.76
TBVpS29.06
PEG (NY)0.14
PEG (5Y)0.31
Graham Number51.01
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 0.64
F-Score5
WACC3.28%
ROIC/WACC0.52
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 Year8.18%
Revenue Next 2Y4.9%
Revenue Next 3Y4.69%
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 6.57 and the Price/Book (PB) ratio is 0.8.


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%.