VORNADO REALTY TRUST (VNO) Stock Fundamental Analysis
USA - NYSE:VNO - US9290421091 - REIT
39.15 USD
+0.87 (+2.27%)
39.15 USD
0 (0%)
Overall VNO gets a fundamental rating of 4 out of 10. We evaluated VNO against 127 industry peers in the Diversified REITs industry. VNO has an average financial health and profitability rating. 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.
In the past year VNO had a positive cash flow from operations.
In multiple years VNO reported negative net income over the last 5 years.
In the past 5 years VNO always reported a positive cash flow from operatings.
1.2 Ratios
VNO has a better Return On Assets (5.21%) than 96.06% of its industry peers.
With an excellent Return On Equity value of 13.34%, VNO belongs to the best of the industry, outperforming 93.70% of the companies in the same industry.
VNO has a Return On Invested Capital of 1.45%. This is in the lower half of the industry: VNO underperforms 77.17% of its industry peers.
The Average Return On Invested Capital over the past 3 years for VNO is in line with the industry average of 3.04%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.21% | ||
| ROE | 13.34% | ||
| ROIC | 1.45% |
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
With an excellent Profit Margin value of 45.05%, VNO belongs to the best of the industry, outperforming 95.28% of the companies in the same industry.
VNO's Profit Margin has declined in the last couple of years.
VNO's Operating Margin of 14.83% is on the low side compared to the rest of the industry. VNO is outperformed by 66.14% of its industry peers.
In the last couple of years the Operating Margin of VNO has declined.
Looking at the Gross Margin, with a value of 49.21%, VNO is doing worse than 78.74% of the companies in the same industry.
VNO's Gross Margin has declined in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 14.83% | ||
| PM (TTM) | 45.05% | ||
| GM | 49.21% |
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.
The number of shares outstanding for VNO has been increased compared to 1 year ago.
Compared to 5 years ago, VNO has about the same amount of shares outstanding.
The debt/assets ratio for VNO is higher compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 0.42, we must say that VNO is in the distress zone and has some risk of bankruptcy.
VNO has a Altman-Z score (0.42) which is in line with its industry peers.
The Debt to FCF ratio of VNO is 7.73, which is on the high side as it means it would take VNO, 7.73 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of VNO (7.73) is better than 94.49% of its industry peers.
A Debt/Equity ratio of 1.16 is on the high side and indicates that VNO has dependencies on debt financing.
VNO has a Debt to Equity ratio of 1.16. This is comparable to the rest of the industry: VNO outperforms 52.76% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.16 | ||
| Debt/FCF | 7.73 | ||
| Altman-Z | 0.42 |
ROIC/WACC0.24
WACC6.12%
2.3 Liquidity
VNO has a Current Ratio of 1.88. This is a normal value and indicates that VNO is financially healthy and should not expect problems in meeting its short term obligations.
VNO's Current ratio of 1.88 is fine compared to the rest of the industry. VNO outperforms 77.95% of its industry peers.
VNO has a Quick Ratio of 1.88. 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 Quick ratio (1.88) than 77.95% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.88 | ||
| Quick Ratio | 1.88 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 1583.33% 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.
VNO shows a small growth in Revenue. In the last year, the Revenue has grown by 1.38%.
Measured over the past years, VNO shows a decrease in Revenue. The Revenue has been decreasing by -1.47% on average per year.
EPS 1Y (TTM)1583.33%
EPS 3Y-58.75%
EPS 5Y-57.97%
EPS Q2Q%1955.56%
Revenue 1Y (TTM)1.38%
Revenue growth 3Y4%
Revenue growth 5Y-1.47%
Sales Q2Q%-1.96%
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 Y3435%
EPS Next 2Y-52.86%
EPS Next 3Y67.16%
EPS Next 5Y68.63%
Revenue Next Year0.73%
Revenue Next 2Y1.83%
Revenue Next 3Y3.1%
Revenue Next 5Y3.95%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
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 9.69, the valuation of VNO can be described as very reasonable.
VNO's Price/Earnings ratio is rather cheap when compared to the industry. VNO is cheaper than 96.85% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.77, VNO is valued rather cheaply.
The Forward Price/Earnings Ratio is negative for VNO. No positive earnings are expected for the next year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.69 | ||
| Fwd PE | N/A |
4.2 Price Multiples
VNO's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. VNO is more expensive than 78.74% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, VNO is valued cheaply inside the industry as 95.28% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.19 | ||
| EV/EBITDA | 17.91 |
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 67.16% in the coming years.
PEG (NY)0
PEG (5Y)N/A
EPS Next 2Y-52.86%
EPS Next 3Y67.16%
5. Dividend
5.1 Amount
VNO has a Yearly Dividend Yield of 1.87%. Purely for dividend investing, there may be better candidates out there.
With a Dividend Yield of 1.87, VNO pays less dividend than the industry average, which is at 6.23. 86.61% of the companies listed in the same industry pay a better dividend than VNO!
VNO's Dividend Yield is slightly below the S&P500 average, which is at 2.36.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.87% |
5.2 History
The dividend of VNO decreases each year by -18.14%.
VNO has paid a dividend for at least 10 years, which is 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
VNO pays out 25.00% of its income as dividend. This is a sustainable payout ratio.
DP25%
EPS Next 2Y-52.86%
EPS Next 3Y67.16%
39.15
+0.87 (+2.27%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners97.51%
Inst Owner Change0.8%
Ins Owners6.48%
Ins Owner Change0%
Market Cap7.52B
Analysts53.33
Price Target40.21 (2.71%)
Short Float %5.04%
Short Ratio5.18
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.87% |
Yearly Dividend1.07
Dividend Growth(5Y)-18.14%
DP25%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)2129.51%
Min EPS beat(2)132.23%
Max EPS beat(2)4126.8%
EPS beat(4)4
Avg EPS beat(4)1094.95%
Min EPS beat(4)0.99%
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)-1.83%
Min Revenue beat(2)-4.75%
Max Revenue beat(2)1.08%
Revenue beat(4)2
Avg Revenue beat(4)-1.1%
Min Revenue beat(4)-4.75%
Max Revenue beat(4)1.3%
Revenue beat(8)3
Avg Revenue beat(8)-1.46%
Revenue beat(12)6
Avg Revenue beat(12)23.6%
Revenue beat(16)9
Avg Revenue beat(16)24.62%
PT rev (1m)0.85%
PT rev (3m)0.42%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-136.36%
EPS NY rev (1m)40.7%
EPS NY rev (3m)261.29%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-6.24%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-2.54%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.69 | ||
| Fwd PE | N/A | ||
| P/S | 4.17 | ||
| P/FCF | 8.19 | ||
| P/OCF | 5.41 | ||
| P/B | 1.23 | ||
| P/tB | 1.26 | ||
| EV/EBITDA | 17.91 |
EPS(TTM)4.04
EY10.32%
EPS(NY)-0.01
Fwd EYN/A
FCF(TTM)4.78
FCFY12.21%
OCF(TTM)7.24
OCFY18.49%
SpS9.39
BVpS31.72
TBVpS31.13
PEG (NY)0
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.21% | ||
| ROE | 13.34% | ||
| ROCE | 1.84% | ||
| ROIC | 1.45% | ||
| ROICexc | 1.58% | ||
| ROICexgc | 1.63% | ||
| OM | 14.83% | ||
| PM (TTM) | 45.05% | ||
| GM | 49.21% | ||
| FCFM | 50.9% |
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%
ROICexcg growth 3Y2.74%
ROICexcg 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 | 1.16 | ||
| Debt/FCF | 7.73 | ||
| Debt/EBITDA | 9.48 | ||
| Cap/Depr | 98.16% | ||
| Cap/Sales | 26.18% | ||
| Interest Coverage | 0.79 | ||
| Cash Conversion | 185.73% | ||
| Profit Quality | 112.98% | ||
| Current Ratio | 1.88 | ||
| Quick Ratio | 1.88 | ||
| Altman-Z | 0.42 |
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)1583.33%
EPS 3Y-58.75%
EPS 5Y-57.97%
EPS Q2Q%1955.56%
EPS Next Y3435%
EPS Next 2Y-52.86%
EPS Next 3Y67.16%
EPS Next 5Y68.63%
Revenue 1Y (TTM)1.38%
Revenue growth 3Y4%
Revenue growth 5Y-1.47%
Sales Q2Q%-1.96%
Revenue Next Year0.73%
Revenue Next 2Y1.83%
Revenue Next 3Y3.1%
Revenue Next 5Y3.95%
EBIT growth 1Y2.55%
EBIT growth 3Y2.23%
EBIT growth 5Y-9.15%
EBIT Next Year194.44%
EBIT Next 3Y41.43%
EBIT Next 5Y26.09%
FCF growth 1Y1108.96%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y87.13%
OCF growth 3Y-10.96%
OCF growth 5Y-4.09%