VORNADO REALTY TRUST (VNO) Stock Fundamental Analysis
USA - NYSE:VNO - US9290421091 - REIT
36.31 USD
+0.05 (+0.14%)
36.31 USD
0 (0%)
Taking everything into account, VNO scores 4 out of 10 in our fundamental rating. VNO was compared to 128 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 correct valuation and a medium 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.
The reported net income has been mixed in the past 5 years: VNO reported negative net income in multiple years.
In the past 5 years VNO always reported a positive cash flow from operatings.
1.2 Ratios
VNO has a Return On Assets of 5.36%. This is amongst the best in the industry. VNO outperforms 96.09% of its industry peers.
Looking at the Return On Equity, with a value of 13.90%, VNO belongs to the top of the industry, outperforming 93.75% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 1.44%, VNO is doing worse than 76.56% of the companies in the same industry.
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 | 5.36% | ||
| 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
The Profit Margin of VNO (46.48%) is better than 96.09% 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 66.41% of its industry peers.
VNO's Operating Margin has declined in the last couple of years.
The Gross Margin of VNO (49.19%) is worse than 78.91% 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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so VNO is destroying value.
VNO has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, VNO has about the same amount of shares outstanding.
VNO has a worse debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 0.37, we must say that VNO is in the distress zone and has some risk of bankruptcy.
With a Altman-Z score value of 0.37, VNO perfoms like the industry average, outperforming 43.75% of the companies in the same industry.
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.
Looking at the Debt to FCF ratio, with a value of 11.23, VNO belongs to the top of the industry, outperforming 89.06% 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 | 0.37 |
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's Current ratio of 1.67 is fine compared to the rest of the industry. VNO outperforms 75.00% of its industry peers.
VNO has a Quick 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 Quick ratio (1.67) than 75.00% 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.
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
VNO is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 68.63% yearly.
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-50.08%
EPS Next 3Y72.98%
EPS Next 5Y68.63%
Revenue Next Year0.73%
Revenue Next 2Y1.83%
Revenue Next 3Y3.1%
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
VNO is valuated reasonably with a Price/Earnings ratio of 8.65.
Based on the Price/Earnings ratio, VNO is valued cheaper than 97.66% of the companies in the same industry.
When comparing the Price/Earnings ratio of VNO to the average of the S&P500 Index (26.35), we can say 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 | 8.65 | ||
| Fwd PE | N/A |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, VNO is valued a bit more expensive than 75.78% of the companies in the same industry.
89.84% 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 | 10.9 | ||
| EV/EBITDA | 17.53 |
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 more expensive valuation may be justified as VNO's earnings are expected to grow with 72.98% in the coming years.
PEG (NY)0
PEG (5Y)N/A
EPS Next 2Y-50.08%
EPS Next 3Y72.98%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 2.08%, VNO has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 6.29, VNO's dividend is way lower than its industry peers. On top of this 85.16% 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 2.36.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.08% |
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.
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-50.08%
EPS Next 3Y72.98%
36.31
+0.05 (+0.14%)
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 Change-0.84%
Ins Owners6.48%
Ins Owner Change-0.72%
Market Cap6.97B
Revenue(TTM)1.81B
Net Income(TTM)843.45M
Analysts55.45
Price Target41.24 (13.58%)
Short Float %3.99%
Short Ratio4.49
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.08% |
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)2.57%
PT rev (3m)3%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-136.36%
EPS NY rev (1m)0%
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)-2.59%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.65 | ||
| Fwd PE | N/A | ||
| P/S | 3.84 | ||
| P/FCF | 10.9 | ||
| P/OCF | 5.29 | ||
| P/B | 1.15 | ||
| P/tB | 1.17 | ||
| EV/EBITDA | 17.53 |
EPS(TTM)4.2
EY11.57%
EPS(NY)-0.01
Fwd EYN/A
FCF(TTM)3.33
FCFY9.18%
OCF(TTM)6.86
OCFY18.91%
SpS9.45
BVpS31.59
TBVpS31
PEG (NY)0
PEG (5Y)N/A
Graham Number54.64
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 | 0.37 |
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 Y3435%
EPS Next 2Y-50.08%
EPS Next 3Y72.98%
EPS Next 5Y68.63%
Revenue 1Y (TTM)2.41%
Revenue growth 3Y4%
Revenue growth 5Y-1.47%
Sales Q2Q%2.36%
Revenue Next Year0.73%
Revenue Next 2Y1.83%
Revenue Next 3Y3.1%
Revenue Next 5Y3.95%
EBIT growth 1Y10.68%
EBIT growth 3Y2.23%
EBIT growth 5Y-9.15%
EBIT Next Year194.44%
EBIT Next 3Y41.43%
EBIT Next 5Y26.09%
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 8.65 and the Price/Book (PB) ratio is 1.15.
Can you provide the financial health for VNO stock?
The financial health rating of VORNADO REALTY TRUST (VNO) is 4 / 10.