VORNADO REALTY TRUST (VNO) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:VNO - US9290421091 - REIT
34.51 USD
-0.1 (-0.29%)
34.51 USD
0 (0%)
Overall VNO gets a fundamental rating of 5 out of 10. We evaluated VNO against 126 industry peers in the Diversified REITs industry. Both the profitability and the financial health of VNO get a neutral evaluation. Nothing too spectacular is happening here. VNO has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
VNO had positive earnings in the past year.
In the past year VNO had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: VNO reported negative net income in multiple years.
Each year in the past 5 years VNO had a positive operating cash flow.
1.2 Ratios
VNO has a Return On Assets of 5.36%. This is amongst the best in the industry. VNO outperforms 96.06% of its industry peers.
The Return On Equity of VNO (13.90%) is better than 91.34% of its industry peers.
The Return On Invested Capital of VNO (1.44%) is worse than 77.17% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for VNO is in line with the industry average of 3.06%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.36% | ||
| ROE | 13.9% | ||
| ROIC | 1.44% |
ROA(3y)-0.72%
ROA(5y)-0.74%
ROE(3y)-2.02%
ROE(5y)-1.95%
ROIC(3y)1.48%
ROIC(5y)1.27%
1.3 Margins
VNO has a better Profit Margin (46.48%) than 96.06% of its industry peers.
VNO's Profit Margin has declined in the last couple of years.
VNO has a Operating Margin of 14.75%. This is in the lower half of the industry: VNO underperforms 66.14% of its industry peers.
In the last couple of years the Operating Margin of VNO has declined.
The Gross Margin of VNO (49.19%) is worse than 76.38% of its industry peers.
In the last couple of years the Gross Margin of VNO has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 14.75% | ||
| PM (TTM) | 46.48% | ||
| GM | 49.19% |
OM growth 3Y-1.7%
OM growth 5Y-7.8%
PM growth 3Y-58.25%
PM growth 5Y-68.97%
GM growth 3Y-1.17%
GM growth 5Y-1.66%
2. Health
2.1 Basic Checks
VNO has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
Compared to 1 year ago, VNO has more shares outstanding
VNO has about the same amout of shares outstanding than it did 5 years ago.
Compared to 1 year ago, VNO has a worse debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 0.34, we must say that VNO is in the distress zone and has some risk of bankruptcy.
VNO's Altman-Z score of 0.34 is in line compared to the rest of the industry. VNO outperforms 40.94% of its industry peers.
The Debt to FCF ratio of VNO is 11.23, which is on the high side as it means it would take VNO, 11.23 years of fcf income to pay off all of its debts.
With an excellent Debt to FCF ratio value of 11.23, VNO belongs to the best of the industry, outperforming 88.98% of the companies in the same industry.
VNO has a Debt/Equity ratio of 1.18. This is a high value indicating a heavy dependency on external financing.
VNO has a Debt to Equity ratio (1.18) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.18 | ||
| Debt/FCF | 11.23 | ||
| Altman-Z | 0.34 |
ROIC/WACC0.24
WACC6.13%
2.3 Liquidity
A Current Ratio of 1.67 indicates that VNO should not have too much problems paying its short term obligations.
Looking at the Current ratio, with a value of 1.67, VNO is in the better half of the industry, outperforming 77.95% of the companies in the same industry.
A Quick Ratio of 1.67 indicates that VNO should not have too much problems paying its short term obligations.
VNO has a better Quick ratio (1.67) than 77.95% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.67 | ||
| Quick Ratio | 1.67 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 5900.00% over the past year.
Measured over the past years, VNO shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -57.97% on average per year.
The Revenue has been growing slightly by 2.41% in the past year.
VNO shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -1.47% yearly.
EPS 1Y (TTM)5900%
EPS 3Y-58.75%
EPS 5Y-57.97%
EPS Q2Q%160%
Revenue 1Y (TTM)2.41%
Revenue growth 3Y4%
Revenue growth 5Y-1.47%
Sales Q2Q%2.36%
3.2 Future
Based on estimates for the next years, VNO will show a very strong growth in Earnings Per Share. The EPS will grow by 68.63% on average per year.
Based on estimates for the next years, VNO will show a small growth in Revenue. The Revenue will grow by 2.98% on average per year.
EPS Next Y10530.25%
EPS Next 2Y-45.82%
EPS Next 3Y-8.84%
EPS Next 5Y68.63%
Revenue Next Year-0.28%
Revenue Next 2Y0.45%
Revenue Next 3Y1.7%
Revenue Next 5Y2.98%
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 accelerating.
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.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 8.22 indicates a reasonable valuation of VNO.
94.49% of the companies in the same industry are more expensive than VNO, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 27.19, VNO is valued rather cheaply.
VNO is expected to report negative earnings next year, which makes the Forward Price/Earnings Ratio negative.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.22 | ||
| Fwd PE | N/A |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, VNO is valued a bit more expensive than 66.93% of the companies in the same industry.
88.19% of the companies in the same industry are more expensive than VNO, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 10.36 | ||
| EV/EBITDA | 17.09 |
4.3 Compensation for Growth
VNO's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A cheap valuation may be justified as VNO's earnings are expected to decrease with -8.84% in the coming years.
PEG (NY)0
PEG (5Y)N/A
EPS Next 2Y-45.82%
EPS Next 3Y-8.84%
5. Dividend
5.1 Amount
VNO has a Yearly Dividend Yield of 7.66%, which is a nice return.
Compared to an average industry Dividend Yield of 6.86, VNO pays a bit more dividend than its industry peers.
VNO's Dividend Yield is rather good when compared to the S&P500 average which is at 1.92.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.66% |
5.2 History
The dividend of VNO decreases each year by -18.14%.
VNO has been paying a dividend for at least 10 years, so it has a reliable track record.
The dividend of VNO decreased recently.
Dividend Growth(5Y)-18.14%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
24.09% of the earnings are spent on dividend by VNO. This is a low number and sustainable payout ratio.
DP24.09%
EPS Next 2Y-45.82%
EPS Next 3Y-8.84%
34.51
-0.1 (-0.29%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners95.67%
Inst Owner Change0%
Ins Owners6.48%
Ins Owner Change-0.43%
Market Cap6.63B
Revenue(TTM)1.81B
Net Income(TTM)843.45M
Analysts66.32
Price Target39.78 (15.27%)
Short Float %4.56%
Short Ratio5.53
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.66% |
Yearly Dividend1.07
Dividend Growth(5Y)-18.14%
DP24.09%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)2187.66%
Min EPS beat(2)248.52%
Max EPS beat(2)4126.8%
EPS beat(4)4
Avg EPS beat(4)1156.84%
Min EPS beat(4)119.8%
Max EPS beat(4)4126.8%
EPS beat(8)8
Avg EPS beat(8)646.48%
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)-0.86%
Min Revenue beat(2)-4.75%
Max Revenue beat(2)3.03%
Revenue beat(4)3
Avg Revenue beat(4)0.16%
Min Revenue beat(4)-4.75%
Max Revenue beat(4)3.03%
Revenue beat(8)4
Avg Revenue beat(8)-0.95%
Revenue beat(12)6
Avg Revenue beat(12)23.83%
Revenue beat(16)9
Avg Revenue beat(16)24.41%
PT rev (1m)-1.27%
PT rev (3m)-1.06%
EPS NQ rev (1m)0%
EPS NQ rev (3m)157.14%
EPS NY rev (1m)52.35%
EPS NY rev (3m)200.71%
Revenue NQ rev (1m)0.06%
Revenue NQ rev (3m)1.16%
Revenue NY rev (1m)0.22%
Revenue NY rev (3m)-1%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.22 | ||
| Fwd PE | N/A | ||
| P/S | 3.65 | ||
| P/FCF | 10.36 | ||
| P/OCF | 5.03 | ||
| P/B | 1.09 | ||
| P/tB | 1.11 | ||
| EV/EBITDA | 17.09 |
EPS(TTM)4.2
EY12.17%
EPS(NY)-0.01
Fwd EYN/A
FCF(TTM)3.33
FCFY9.66%
OCF(TTM)6.86
OCFY19.89%
SpS9.45
BVpS31.58
TBVpS31
PEG (NY)0
PEG (5Y)N/A
Graham Number54.63
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.36% | ||
| ROE | 13.9% | ||
| ROCE | 1.83% | ||
| ROIC | 1.44% | ||
| ROICexc | 1.55% | ||
| ROICexgc | 1.61% | ||
| OM | 14.75% | ||
| PM (TTM) | 46.48% | ||
| GM | 49.19% | ||
| FCFM | 35.27% |
ROA(3y)-0.72%
ROA(5y)-0.74%
ROE(3y)-2.02%
ROE(5y)-1.95%
ROIC(3y)1.48%
ROIC(5y)1.27%
ROICexc(3y)1.57%
ROICexc(5y)1.37%
ROICexgc(3y)1.63%
ROICexgc(5y)1.42%
ROCE(3y)1.87%
ROCE(5y)1.61%
ROICexgc growth 3Y2.74%
ROICexgc growth 5Y-7.36%
ROICexc growth 3Y3.14%
ROICexc growth 5Y-7.55%
OM growth 3Y-1.7%
OM growth 5Y-7.8%
PM growth 3Y-58.25%
PM growth 5Y-68.97%
GM growth 3Y-1.17%
GM growth 5Y-1.66%
F-Score8
Asset Turnover0.12
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.18 | ||
| Debt/FCF | 11.23 | ||
| Debt/EBITDA | 9.59 | ||
| Cap/Depr | 140.83% | ||
| Cap/Sales | 37.38% | ||
| Interest Coverage | 0.84 | ||
| Cash Conversion | 175.93% | ||
| Profit Quality | 75.87% | ||
| Current Ratio | 1.67 | ||
| Quick Ratio | 1.67 | ||
| Altman-Z | 0.34 |
F-Score8
WACC6.13%
ROIC/WACC0.24
Cap/Depr(3y)148.23%
Cap/Depr(5y)165.12%
Cap/Sales(3y)40.05%
Cap/Sales(5y)44.81%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)5900%
EPS 3Y-58.75%
EPS 5Y-57.97%
EPS Q2Q%160%
EPS Next Y10530.25%
EPS Next 2Y-45.82%
EPS Next 3Y-8.84%
EPS Next 5Y68.63%
Revenue 1Y (TTM)2.41%
Revenue growth 3Y4%
Revenue growth 5Y-1.47%
Sales Q2Q%2.36%
Revenue Next Year-0.28%
Revenue Next 2Y0.45%
Revenue Next 3Y1.7%
Revenue Next 5Y2.98%
EBIT growth 1Y10.68%
EBIT growth 3Y2.23%
EBIT growth 5Y-9.15%
EBIT Next Year183.29%
EBIT Next 3Y38.16%
EBIT Next 5Y26.08%
FCF growth 1Y486.77%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y95.02%
OCF growth 3Y-10.96%
OCF growth 5Y-4.09%
VORNADO REALTY TRUST / VNO FAQ
What is the ChartMill fundamental rating of VORNADO REALTY TRUST (VNO) stock?
ChartMill assigns a fundamental rating of 4 / 10 to VNO.
What is the valuation status for VNO stock?
ChartMill assigns a valuation rating of 5 / 10 to VORNADO REALTY TRUST (VNO). This can be considered as Fairly Valued.
Can you provide the profitability details for VORNADO REALTY TRUST?
VORNADO REALTY TRUST (VNO) has a profitability rating of 4 / 10.
What are the PE and PB ratios of VORNADO REALTY TRUST (VNO) stock?
The Price/Earnings (PE) ratio for VORNADO REALTY TRUST (VNO) is 8.22 and the Price/Book (PB) ratio is 1.09.
What is the earnings growth outlook for VORNADO REALTY TRUST?
The Earnings per Share (EPS) of VORNADO REALTY TRUST (VNO) is expected to grow by 10530.25% in the next year.