VORNADO REALTY TRUST (VNO) Stock Fundamental Analysis

NYSE:VNO • US9290421091

27.52 USD
+0.14 (+0.51%)
At close: Mar 3, 2026
27.84 USD
+0.32 (+1.16%)
After Hours: 3/3/2026, 8:04:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

4

VNO gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 122 industry peers in the Diversified REITs industry. VNO has an average financial health and profitability rating. VNO has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

5

1. Profitability

1.1 Basic Checks

  • In the past year VNO was profitable.
  • VNO had a positive operating cash flow in the past year.
  • VNO had positive earnings in 4 of the past 5 years.
  • Each year in the past 5 years VNO had a positive operating cash flow.
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 2025 0 1B 2B 3B

1.2 Ratios

  • With an excellent Return On Assets value of 5.43%, VNO belongs to the best of the industry, outperforming 93.44% of the companies in the same industry.
  • VNO's Return On Equity of 14.08% is amongst the best of the industry. VNO outperforms 91.80% of its industry peers.
  • VNO has a worse Return On Invested Capital (1.32%) than 77.87% 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 3.10%.
Industry RankSector Rank
ROA 5.43%
ROE 14.08%
ROIC 1.32%
ROA(3y)1.92%
ROA(5y)0.77%
ROE(3y)5.01%
ROE(5y)1.93%
ROIC(3y)1.33%
ROIC(5y)1.29%
VNO Yearly ROA, ROE, ROICVNO Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 20 30 40

1.3 Margins

  • VNO has a Profit Margin of 46.56%. This is amongst the best in the industry. VNO outperforms 96.72% of its industry peers.
  • Looking at the Operating Margin, with a value of 14.43%, VNO is doing worse than 65.57% of the companies in the same industry.
  • In the last couple of years the Operating Margin of VNO has grown nicely.
  • VNO's Gross Margin of 49.19% is on the low side compared to the rest of the industry. VNO is outperformed by 76.23% of its industry peers.
  • In the last couple of years the Gross Margin of VNO has remained more or less at the same level.
Industry RankSector Rank
OM 14.43%
PM (TTM) 46.56%
GM 49.19%
OM growth 3Y-4.42%
OM growth 5Y7.83%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-1.49%
GM growth 5Y0.34%
VNO Yearly Profit, Operating, Gross MarginsVNO Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50 100 150

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

4

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so VNO is destroying value.
  • Compared to 1 year ago, VNO has about the same amount of shares outstanding.
  • The number of shares outstanding for VNO remains at a similar level compared to 5 years ago.
  • VNO has a better debt/assets ratio than last year.
VNO Yearly Shares OutstandingVNO Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 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 2025 5B 10B 15B 20B

2.2 Solvency

  • Based on the Altman-Z score of 0.23, we must say that VNO is in the distress zone and has some risk of bankruptcy.
  • VNO has a worse Altman-Z score (0.23) than 66.39% of its industry peers.
  • The Debt to FCF ratio of VNO is 13.09, which is on the high side as it means it would take VNO, 13.09 years of fcf income to pay off all of its debts.
  • VNO's Debt to FCF ratio of 13.09 is amongst the best of the industry. VNO outperforms 84.43% of its industry peers.
  • VNO has a Debt/Equity ratio of 1.20. This is a high value indicating a heavy dependency on external financing.
  • With a Debt to Equity ratio value of 1.20, VNO perfoms like the industry average, outperforming 54.10% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.2
Debt/FCF 13.09
Altman-Z 0.23
ROIC/WACC0.23
WACC5.84%
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 2025 0 2B 4B 6B 8B 10B

2.3 Liquidity

  • A Current Ratio of 1.55 indicates that VNO should not have too much problems paying its short term obligations.
  • VNO's Current ratio of 1.55 is fine compared to the rest of the industry. VNO outperforms 77.87% of its industry peers.
  • A Quick Ratio of 1.55 indicates that VNO should not have too much problems paying its short term obligations.
  • With a decent Quick ratio value of 1.55, VNO is doing good in the industry, outperforming 78.69% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.55
Quick Ratio 1.55
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 2025 500M 1B 1.5B 2B 2.5B

More info and screens

WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an impressive 10375.00% over the past year.
  • VNO shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 87.07% yearly.
  • The Revenue has been growing slightly by 1.27% in the past year.
  • The Revenue has been growing slightly by 3.45% on average over the past years.
EPS 1Y (TTM)10375%
EPS 3Y87.07%
EPS 5YN/A
EPS Q2Q%-100%
Revenue 1Y (TTM)1.27%
Revenue growth 3Y0.19%
Revenue growth 5Y3.45%
Sales Q2Q%-0.89%

3.2 Future

  • The Earnings Per Share is expected to decrease by -32.07% on average over the next years. This is quite bad
  • VNO is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.81% yearly.
EPS Next Y-102.29%
EPS Next 2Y-41.85%
EPS Next 3Y-52.31%
EPS Next 5Y-32.07%
Revenue Next Year1.51%
Revenue Next 2Y2.92%
Revenue Next 3Y4.12%
Revenue Next 5Y3.81%

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 decreasing.
  • The Revenue growth rate is stable: in the next years the growth will be about the same 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

More info and screens

Find the best growth stocksShow best growing peers

4

4. Valuation

4.1 Price/Earnings Ratio

  • VNO is valuated cheaply with a Price/Earnings ratio of 6.57.
  • 95.90% 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 26.83, which is the current average of the S&P500 Index.
  • The Forward Price/Earnings Ratio is negative for VNO. No positive earnings are expected for the next year.
Industry RankSector Rank
PE 6.57
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 -100 -200

4.2 Price Multiples

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as VNO.
  • 91.80% 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 9.63
EV/EBITDA 15.62
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 earnings are expected to decrease with -52.31% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-41.85%
EPS Next 3Y-52.31%

More info and screens

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

4

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 2.43%, VNO has a reasonable but not impressive dividend return.
  • The stock price of VNO dropped by -20.96% in the last 3 months. With lower prices the dividend yield is higher, but it may be a sign investors do not trust the long term dividend.
  • With a Dividend Yield of 2.43, VNO pays less dividend than the industry average, which is at 7.07. 82.79% of the companies listed in the same industry pay a better dividend than VNO!
  • VNO's Dividend Yield is a higher than the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 2.43%

5.2 History

  • The dividend of VNO decreases each year by -25.57%.
  • 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)-25.57%
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 24.13% of its income as dividend. This is a sustainable payout ratio.
  • VNO's earnings and Dividend Rate are declining. This means the current dividend is most likely not sustainable.
DP24.13%
EPS Next 2Y-41.85%
EPS Next 3Y-52.31%
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 2025 0 1B 2B 3B
VNO Dividend Payout.VNO Dividend Payout, showing the Payout Ratio.VNO Dividend Payout.PayoutRetained Earnings

More info and screens

Find the best dividend stocksShow peers with best dividend

VORNADO REALTY TRUST

NYSE:VNO (3/3/2026, 8:04:00 PM)

After market: 27.84 +0.32 (+1.16%)

27.52

+0.14 (+0.51%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-09
Earnings (Next)05-04
Inst Owners95.67%
Inst Owner Change-2.08%
Ins Owners6.48%
Ins Owner Change1.34%
Market Cap5.29B
Revenue(TTM)1.81B
Net Income(TTM)842.85M
Analysts66.67
Price Target38.6 (40.26%)
Short Float %4.66%
Short Ratio4.65
Dividend
Industry RankSector Rank
Dividend Yield 2.43%
Yearly Dividend1.07
Dividend Growth(5Y)-25.57%
DP24.13%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)74.26%
Min EPS beat(2)-100%
Max EPS beat(2)248.52%
EPS beat(4)3
Avg EPS beat(4)1101.89%
Min EPS beat(4)-100%
Max EPS beat(4)4126.8%
EPS beat(8)7
Avg EPS beat(8)604.98%
EPS beat(12)11
Avg EPS beat(12)571.06%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)2
Avg Revenue beat(2)2.22%
Min Revenue beat(2)1.41%
Max Revenue beat(2)3.03%
Revenue beat(4)3
Avg Revenue beat(4)0.19%
Min Revenue beat(4)-4.75%
Max Revenue beat(4)3.03%
Revenue beat(8)5
Avg Revenue beat(8)-0.29%
Revenue beat(12)6
Avg Revenue beat(12)-0.3%
Revenue beat(16)10
Avg Revenue beat(16)24.5%
PT rev (1m)-2.96%
PT rev (3m)-4.7%
EPS NQ rev (1m)-133.33%
EPS NQ rev (3m)-180%
EPS NY rev (1m)-375%
EPS NY rev (3m)-850%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)1.12%
Revenue NY rev (1m)0.06%
Revenue NY rev (3m)-2.26%
Valuation
Industry RankSector Rank
PE 6.57
Fwd PE N/A
P/S 2.92
P/FCF 9.63
P/OCF 4.2
P/B 0.88
P/tB 0.9
EV/EBITDA 15.62
EPS(TTM)4.19
EY15.23%
EPS(NY)-0.1
Fwd EYN/A
FCF(TTM)2.86
FCFY10.38%
OCF(TTM)6.55
OCFY23.81%
SpS9.43
BVpS31.17
TBVpS30.6
PEG (NY)N/A
PEG (5Y)N/A
Graham Number54.21
Profitability
Industry RankSector Rank
ROA 5.43%
ROE 14.08%
ROCE 1.81%
ROIC 1.32%
ROICexc 1.4%
ROICexgc 1.44%
OM 14.43%
PM (TTM) 46.56%
GM 49.19%
FCFM 30.32%
ROA(3y)1.92%
ROA(5y)0.77%
ROE(3y)5.01%
ROE(5y)1.93%
ROIC(3y)1.33%
ROIC(5y)1.29%
ROICexc(3y)1.41%
ROICexc(5y)1.38%
ROICexgc(3y)1.45%
ROICexgc(5y)1.43%
ROCE(3y)1.82%
ROCE(5y)1.77%
ROICexgc growth 3Y-2.8%
ROICexgc growth 5Y11.74%
ROICexc growth 3Y-2.37%
ROICexc growth 5Y11.83%
OM growth 3Y-4.42%
OM growth 5Y7.83%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-1.49%
GM growth 5Y0.34%
F-Score9
Asset Turnover0.12
Health
Industry RankSector Rank
Debt/Equity 1.2
Debt/FCF 13.09
Debt/EBITDA 9.68
Cap/Depr 147.38%
Cap/Sales 39.19%
Interest Coverage 0.83
Cash Conversion 169.44%
Profit Quality 65.12%
Current Ratio 1.55
Quick Ratio 1.55
Altman-Z 0.23
F-Score9
WACC5.84%
ROIC/WACC0.23
Cap/Depr(3y)140.3%
Cap/Depr(5y)158.28%
Cap/Sales(3y)36.43%
Cap/Sales(5y)42.72%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)10375%
EPS 3Y87.07%
EPS 5YN/A
EPS Q2Q%-100%
EPS Next Y-102.29%
EPS Next 2Y-41.85%
EPS Next 3Y-52.31%
EPS Next 5Y-32.07%
Revenue 1Y (TTM)1.27%
Revenue growth 3Y0.19%
Revenue growth 5Y3.45%
Sales Q2Q%-0.89%
Revenue Next Year1.51%
Revenue Next 2Y2.92%
Revenue Next 3Y4.12%
Revenue Next 5Y3.81%
EBIT growth 1Y3.97%
EBIT growth 3Y-4.24%
EBIT growth 5Y11.55%
EBIT Next Year199.41%
EBIT Next 3Y50.93%
EBIT Next 5Y29.44%
FCF growth 1Y661.11%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y134.02%
OCF growth 3Y16.35%
OCF growth 5Y24.29%

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 4 / 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 5 / 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 6.57 and the Price/Book (PB) ratio is 0.88.


What is the earnings growth outlook for VORNADO REALTY TRUST?

The Earnings per Share (EPS) of VORNADO REALTY TRUST (VNO) is expected to decline by -102.29% in the next year.