VORNADO REALTY TRUST (VNO) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:VNO - US9290421091 - REIT
35.35 USD
+0.3 (+0.86%)
35.35 USD
0 (0%)
We assign a fundamental rating of 4 out of 10 to VNO. VNO was compared to 128 industry peers in the Diversified REITs industry. VNO has only an average score on both its financial health and profitability. VNO is not valued too expensively and it also shows a decent growth rate.
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.
1.2 Ratios
Looking at the Return On Assets, with a value of 5.36%, VNO belongs to the top of the industry, outperforming 96.09% of the companies in the same industry.
Looking at the Return On Equity, with a value of 13.90%, VNO belongs to the top of the industry, outperforming 91.41% of the companies in the same industry.
The Return On Invested Capital of VNO (1.44%) is worse than 77.34% of its industry peers.
VNO had an Average Return On Invested Capital over the past 3 years of 1.48%. This is in line with the industry average of 3.05%.
| 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 Profit Margin of 46.48%. This is amongst the best in the industry. VNO outperforms 96.09% of its industry peers.
VNO's Profit Margin has declined in the last couple of years.
VNO has a worse Operating Margin (14.75%) than 66.41% 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 77.34% of its industry peers.
VNO's Gross Margin has declined in the last couple of years.
| 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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so VNO is destroying value.
The number of shares outstanding for VNO has been increased compared to 1 year ago.
The number of shares outstanding for VNO remains at a similar level compared to 5 years ago.
The debt/assets ratio for VNO is higher compared to a year ago.
2.2 Solvency
VNO has an Altman-Z score of 0.35. This is a bad value and indicates that VNO is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 0.35, VNO is in line with its industry, outperforming 42.19% of the companies in the same industry.
VNO has a debt to FCF ratio of 11.23. This is a negative value and a sign of low solvency as VNO would need 11.23 years to pay back of all of its debts.
VNO has a better Debt to FCF ratio (11.23) than 89.06% 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 (1.18) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.18 | ||
| Debt/FCF | 11.23 | ||
| Altman-Z | 0.35 |
ROIC/WACC0.23
WACC6.14%
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 better Current ratio (1.67) than 76.56% 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 76.56% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.67 | ||
| Quick Ratio | 1.67 |
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.
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.
Looking at the last year, VNO shows a small growth in Revenue. The Revenue has grown by 2.41% in the last year.
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 3.95% on average per year.
EPS Next Y6877.41%
EPS Next 2Y0.5%
EPS Next 3Y51.12%
EPS Next 5Y68.63%
Revenue Next Year-0.5%
Revenue Next 2Y0.83%
Revenue Next 3Y2.02%
Revenue Next 5Y3.95%
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.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 8.42, the valuation of VNO can be described as very reasonable.
94.53% of the companies in the same industry are more expensive than VNO, based on the Price/Earnings ratio.
VNO is valuated cheaply when we compare the Price/Earnings ratio to 26.54, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 875.00 indicates a quite expensive valuation of VNO.
Compared to the rest of the industry, the Price/Forward Earnings ratio of VNO indicates a slightly more expensive valuation: VNO is more expensive than 60.16% of the companies listed in the same industry.
VNO's Price/Forward Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 23.78.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.42 | ||
| Fwd PE | 875 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of VNO indicates a slightly more expensive valuation: VNO is more expensive than 69.53% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, VNO is valued cheaply inside the industry as 85.94% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 10.61 | ||
| EV/EBITDA | 17.23 |
4.3 Compensation for Growth
The 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 VNO's earnings are expected to grow with 51.12% in the coming years.
PEG (NY)0
PEG (5Y)N/A
EPS Next 2Y0.5%
EPS Next 3Y51.12%
5. Dividend
5.1 Amount
VNO has a Yearly Dividend Yield of 2.09%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 6.59, VNO's dividend is way lower than its industry peers. On top of this 83.59% of the companies listed in the same industry pay a better dividend than VNO!
VNO's Dividend Yield is comparable with the S&P500 average which is at 2.27.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.09% |
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
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 2Y0.5%
EPS Next 3Y51.12%
35.35
+0.3 (+0.86%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners95.78%
Inst Owner Change-1.33%
Ins Owners6.48%
Ins Owner Change-0.43%
Market Cap6.79B
Revenue(TTM)1.81B
Net Income(TTM)843.45M
Analysts66.32
Price Target40.29 (13.97%)
Short Float %3.99%
Short Ratio5.24
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.09% |
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)N/A
Avg EPS beat(8)N/A
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)-2.3%
PT rev (3m)3.27%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)157.14%
EPS NY rev (1m)97.38%
EPS NY rev (3m)177.72%
Revenue NQ rev (1m)-0.05%
Revenue NQ rev (3m)-0.75%
Revenue NY rev (1m)-1.22%
Revenue NY rev (3m)-2.3%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.42 | ||
| Fwd PE | 875 | ||
| P/S | 3.74 | ||
| P/FCF | 10.61 | ||
| P/OCF | 5.15 | ||
| P/B | 1.12 | ||
| P/tB | 1.14 | ||
| EV/EBITDA | 17.23 |
EPS(TTM)4.2
EY11.88%
EPS(NY)0.04
Fwd EY0.11%
FCF(TTM)3.33
FCFY9.43%
OCF(TTM)6.86
OCFY19.42%
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 | 0.35 |
F-Score8
WACC6.14%
ROIC/WACC0.23
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 Y6877.41%
EPS Next 2Y0.5%
EPS Next 3Y51.12%
EPS Next 5Y68.63%
Revenue 1Y (TTM)2.41%
Revenue growth 3Y4%
Revenue growth 5Y-1.47%
Sales Q2Q%2.36%
Revenue Next Year-0.5%
Revenue Next 2Y0.83%
Revenue Next 3Y2.02%
Revenue Next 5Y3.95%
EBIT growth 1Y10.68%
EBIT growth 3Y2.23%
EBIT growth 5Y-9.15%
EBIT Next Year178.69%
EBIT Next 3Y39.54%
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
Can you provide the ChartMill fundamental rating for VORNADO REALTY TRUST?
ChartMill assigns a fundamental rating of 4 / 10 to VNO.
Can you provide the valuation status for VORNADO REALTY TRUST?
ChartMill assigns a valuation rating of 6 / 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 8.42 and the Price/Book (PB) ratio is 1.12.
Can you provide the financial health for VNO stock?
The financial health rating of VORNADO REALTY TRUST (VNO) is 4 / 10.