VORNADO REALTY TRUST (VNO) Stock Fundamental Analysis

USA • New York Stock Exchange • NYSE:VNO • US9290421091

31.27 USD
+0.81 (+2.66%)
At close: Feb 6, 2026
31.26 USD
-0.01 (-0.03%)
After Hours: 2/6/2026, 8:10:42 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

5

Taking everything into account, VNO scores 5 out of 10 in our fundamental rating. VNO was compared to 124 industry peers in the Diversified REITs industry. VNO has an average financial health and profitability rating. VNO has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

  • In the past year VNO was profitable.
  • VNO had a positive operating cash flow in the past year.
  • The reported net income has been mixed in the past 5 years: VNO reported negative net income in multiple years.
  • VNO had a positive operating cash flow in each of the past 5 years.
VNO Yearly Net Income VS EBIT VS OCF VS FCFVNO 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 1B 2B 3B

1.2 Ratios

  • With an excellent Return On Assets value of 5.36%, VNO belongs to the best of the industry, outperforming 95.97% of the companies in the same industry.
  • With an excellent Return On Equity value of 13.90%, VNO belongs to the best of the industry, outperforming 91.94% of the companies in the same industry.
  • VNO has a worse Return On Invested Capital (1.44%) than 76.61% 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 3.05%.
Industry RankSector 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%
VNO Yearly ROA, ROE, ROICVNO Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 20 30 40

1.3 Margins

  • VNO's Profit Margin of 46.48% is amongst the best of the industry. VNO outperforms 96.77% of its industry peers.
  • VNO's Profit Margin has declined in the last couple of years.
  • The Operating Margin of VNO (14.75%) is worse than 65.32% 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 75.81% of its industry peers.
  • In the last couple of years the Gross Margin of VNO has declined.
Industry RankSector 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%
VNO Yearly Profit, Operating, Gross MarginsVNO Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 100 150

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ROAROEROICOperating and Profit MarginShow most profitable peers

4

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), VNO is destroying value.
  • VNO has more shares outstanding than it did 1 year ago.
  • The number of shares outstanding for VNO remains at a similar level compared to 5 years ago.
  • Compared to 1 year ago, VNO has a worse debt to assets ratio.
VNO Yearly Shares OutstandingVNO Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M
VNO Yearly Total Debt VS Total AssetsVNO Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B

2.2 Solvency

  • Based on the Altman-Z score of 0.30, we must say that VNO is in the distress zone and has some risk of bankruptcy.
  • VNO has a Altman-Z score of 0.30. This is in the lower half of the industry: VNO underperforms 63.71% 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.
  • VNO's Debt to FCF ratio of 11.23 is amongst the best of the industry. VNO outperforms 89.52% of its industry peers.
  • A Debt/Equity ratio of 1.18 is on the high side and indicates that VNO has dependencies on debt financing.
  • VNO has a Debt to Equity ratio of 1.18. This is comparable to the rest of the industry: VNO outperforms 55.65% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.18
Debt/FCF 11.23
Altman-Z 0.3
ROIC/WACC0.24
WACC6.12%
VNO Yearly LT Debt VS Equity VS FCFVNO Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B 6B 8B 10B

2.3 Liquidity

  • VNO has a Current Ratio of 1.67. This is a normal value and indicates that VNO is financially healthy and should not expect problems in meeting its short term obligations.
  • VNO has a Current ratio of 1.67. This is in the better half of the industry: VNO outperforms 79.03% of its industry peers.
  • A Quick Ratio of 1.67 indicates that VNO should not have too much problems paying its short term obligations.
  • With a decent Quick ratio value of 1.67, VNO is doing good in the industry, outperforming 79.03% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.67
Quick Ratio 1.67
VNO Yearly Current Assets VS Current LiabilitesVNO Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B 2.5B

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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

  • VNO shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 5900.00%, which is quite impressive.
  • VNO shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -57.97% yearly.
  • VNO shows a small growth in Revenue. In the last year, the Revenue has grown by 2.41%.
  • The Revenue has been decreasing by -1.47% on average over the past years.
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

  • The Earnings Per Share is expected to grow by 68.63% on average over the next years. This is a very strong growth
  • 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 Y10606%
EPS Next 2Y-58.27%
EPS Next 3Y8.08%
EPS Next 5Y68.63%
Revenue Next Year-0.56%
Revenue Next 2Y0.64%
Revenue Next 3Y1.79%
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.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
VNO Yearly Revenue VS EstimatesVNO Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 500M 1B 1.5B 2B 2.5B
VNO Yearly EPS VS EstimatesVNO Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 0 5 10 15

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5

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 7.45, which indicates a rather cheap valuation of VNO.
  • Compared to the rest of the industry, the Price/Earnings ratio of VNO indicates a rather cheap valuation: VNO is cheaper than 95.97% of the companies listed in the same industry.
  • When comparing the Price/Earnings ratio of VNO to the average of the S&P500 Index (27.92), we can say VNO is valued rather cheaply.
  • The Forward Price/Earnings Ratio is negative for VNO. No positive earnings are expected for the next year.
Industry RankSector Rank
PE 7.45
Fwd PE N/A
VNO Price Earnings VS Forward Price EarningsVNO Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 -500 -1K -1.5K

4.2 Price Multiples

  • VNO's Enterprise Value to EBITDA is on the same level as the industry average.
  • 93.55% of the companies in the same industry are more expensive than VNO, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 9.38
EV/EBITDA 16.05
VNO Per share dataVNO EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30

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.
PEG (NY)0
PEG (5Y)N/A
EPS Next 2Y-58.27%
EPS Next 3Y8.08%

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

6

5. Dividend

5.1 Amount

  • VNO has a Yearly Dividend Yield of 7.45%, which is a nice return.
  • Compared to an average industry Dividend Yield of 6.96, VNO pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.83, VNO pays a better dividend.
Industry RankSector Rank
Dividend Yield 7.45%

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.
  • VNO has decreased its dividend recently.
Dividend Growth(5Y)-18.14%
Div Incr Years1
Div Non Decr Years1
VNO Yearly Dividends per shareVNO Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1 2 3 4

5.3 Sustainability

  • VNO pays out 24.09% of its income as dividend. This is a sustainable payout ratio.
DP24.09%
EPS Next 2Y-58.27%
EPS Next 3Y8.08%
VNO Yearly Income VS Free CF VS DividendVNO Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B
VNO Dividend Payout.VNO Dividend Payout, showing the Payout Ratio.VNO Dividend Payout.PayoutRetained Earnings

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VORNADO REALTY TRUST

NYSE:VNO (2/6/2026, 8:10:42 PM)

After market: 31.26 -0.01 (-0.03%)

31.27

+0.81 (+2.66%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)11-03
Earnings (Next)02-09
Inst Owners95.67%
Inst Owner Change-10.46%
Ins Owners6.48%
Ins Owner Change-0.43%
Market Cap6.01B
Revenue(TTM)1.81B
Net Income(TTM)843.45M
Analysts66.32
Price Target39.78 (27.21%)
Short Float %4.81%
Short Ratio6.19
Dividend
Industry RankSector Rank
Dividend Yield 7.45%
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)0%
PT rev (3m)-3.53%
EPS NQ rev (1m)150%
EPS NQ rev (3m)242.86%
EPS NY rev (1m)0.71%
EPS NY rev (3m)202.86%
Revenue NQ rev (1m)0.15%
Revenue NQ rev (3m)1.31%
Revenue NY rev (1m)-0.28%
Revenue NY rev (3m)-1.27%
Valuation
Industry RankSector Rank
PE 7.45
Fwd PE N/A
P/S 3.31
P/FCF 9.38
P/OCF 4.56
P/B 0.99
P/tB 1.01
EV/EBITDA 16.05
EPS(TTM)4.2
EY13.43%
EPS(NY)-0.02
Fwd EYN/A
FCF(TTM)3.33
FCFY10.66%
OCF(TTM)6.86
OCFY21.95%
SpS9.45
BVpS31.58
TBVpS31
PEG (NY)0
PEG (5Y)N/A
Graham Number54.63
Profitability
Industry RankSector 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 RankSector 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 0.3
F-Score8
WACC6.12%
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 Y10606%
EPS Next 2Y-58.27%
EPS Next 3Y8.08%
EPS Next 5Y68.63%
Revenue 1Y (TTM)2.41%
Revenue growth 3Y4%
Revenue growth 5Y-1.47%
Sales Q2Q%2.36%
Revenue Next Year-0.56%
Revenue Next 2Y0.64%
Revenue Next 3Y1.79%
Revenue Next 5Y2.98%
EBIT growth 1Y10.68%
EBIT growth 3Y2.23%
EBIT growth 5Y-9.15%
EBIT Next Year177.6%
EBIT Next 3Y34.69%
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 5 / 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 7.45 and the Price/Book (PB) ratio is 0.99.


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 10606% in the next year.