VORNADO REALTY TRUST (VNO) Fundamental Analysis & Valuation

NYSE:VNO • US9290421091

Current stock price

25.18 USD
+0.47 (+1.9%)
At close:
25.18 USD
0 (0%)
After Hours:

This VNO fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

5

1. VNO Profitability Analysis

1.1 Basic Checks

  • VNO had positive earnings in the past year.
  • In the past year VNO had a positive cash flow from operations.
  • VNO had positive earnings in 4 of the past 5 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 2025 0 1B 2B 3B

1.2 Ratios

  • VNO has a better Return On Assets (5.43%) than 94.26% of its industry peers.
  • Looking at the Return On Equity, with a value of 14.08%, VNO belongs to the top of the industry, outperforming 94.26% of the companies in the same industry.
  • VNO has a Return On Invested Capital of 1.32%. This is in the lower half of the industry: VNO underperforms 77.05% 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 3.11%.
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's Profit Margin of 46.56% is amongst the best of the industry. VNO outperforms 95.90% of its industry peers.
  • With a Operating Margin value of 14.43%, VNO is not doing good in the industry: 64.75% of the companies in the same industry are doing better.
  • In the last couple of years the Operating Margin of VNO has grown nicely.
  • VNO has a Gross Margin of 49.19%. This is in the lower half of the industry: VNO underperforms 77.05% of its industry peers.
  • VNO's Gross Margin has been stable in the last couple of years.
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

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4

2. VNO Health Analysis

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 remains at a similar level compared to 1 year ago.
  • Compared to 5 years ago, VNO has about the same amount of shares outstanding.
  • 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

  • VNO has an Altman-Z score of 0.20. This is a bad value and indicates that VNO is not financially healthy and even has some risk of bankruptcy.
  • VNO has a worse Altman-Z score (0.20) than 61.48% 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.
  • Looking at the Debt to FCF ratio, with a value of 13.09, VNO belongs to the top of the industry, outperforming 86.07% of the companies in the same industry.
  • A Debt/Equity ratio of 1.20 is on the high side and indicates that VNO has dependencies on debt financing.
  • With a Debt to Equity ratio value of 1.20, VNO perfoms like the industry average, outperforming 54.92% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.2
Debt/FCF 13.09
Altman-Z 0.2
ROIC/WACC0.23
WACC5.81%
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

  • VNO has a Current Ratio of 1.55. This is a normal value and indicates that VNO is financially healthy and should not expect problems in meeting its short term obligations.
  • With a decent Current ratio value of 1.55, VNO is doing good in the industry, outperforming 75.41% of the companies in the same industry.
  • VNO has a Quick Ratio of 1.55. This is a normal value and indicates that VNO is financially healthy and should not expect problems in meeting its short term obligations.
  • The Quick ratio of VNO (1.55) is better than 76.23% of its industry peers.
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

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

4

3. VNO Growth Analysis

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.
  • Looking at the last year, VNO shows a small growth in Revenue. The Revenue has grown by 1.27% in the last 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

  • Based on estimates for the next years, VNO will show a very negative growth in Earnings Per Share. The EPS will decrease by -32.07% on average per year.
  • The Revenue is expected to grow by 3.81% on average over the next years.
EPS Next Y-100.96%
EPS Next 2Y-72.66%
EPS Next 3Y-52.31%
EPS Next 5Y-32.07%
Revenue Next Year0.95%
Revenue Next 2Y2.95%
Revenue Next 3Y5.05%
Revenue Next 5Y3.81%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
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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4

4. VNO Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 6.01, which indicates a rather cheap valuation of VNO.
  • Based on the Price/Earnings ratio, VNO is valued cheaply inside the industry as 98.36% of the companies are valued more expensively.
  • When comparing the Price/Earnings ratio of VNO to the average of the S&P500 Index (24.75), 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 RankSector Rank
PE 6.01
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 -200 -400 -600

4.2 Price Multiples

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as VNO.
  • Based on the Price/Free Cash Flow ratio, VNO is valued cheaply inside the industry as 94.26% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 8.75
EV/EBITDA 14.89
VNO Per share dataVNO EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30

4.3 Compensation for Growth

  • A cheap valuation may be justified as VNO's earnings are expected to decrease with -52.31% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-72.66%
EPS Next 3Y-52.31%

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

4

5. VNO Dividend Analysis

5.1 Amount

  • VNO has a Yearly Dividend Yield of 2.43%.
  • The stock price of VNO dropped by -24.72% 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 7.54. 83.61% 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 1.89.
Industry RankSector Rank
Dividend Yield 2.43%

5.2 History

  • The dividend of VNO decreases each year by -25.57%.
  • 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)-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

  • 24.13% of the earnings are spent on dividend by VNO. This is a low number and 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-72.66%
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

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VNO Fundamentals: All Metrics, Ratios and Statistics

VORNADO REALTY TRUST

NYSE:VNO (3/30/2026, 8:04:00 PM)

After market: 25.18 0 (0%)

25.18

+0.47 (+1.9%)

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 Owners94.18%
Inst Owner Change-2.05%
Ins Owners6.59%
Ins Owner Change4.27%
Market Cap4.80B
Revenue(TTM)1.81B
Net Income(TTM)842.85M
Analysts66.67
Price Target35.7 (41.78%)
Short Float %5.07%
Short Ratio4.68
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)-7.52%
PT rev (3m)-10.26%
EPS NQ rev (1m)-450%
EPS NQ rev (3m)-540%
EPS NY rev (1m)57.89%
EPS NY rev (3m)-700%
Revenue NQ rev (1m)-3.8%
Revenue NQ rev (3m)-2.98%
Revenue NY rev (1m)-0.55%
Revenue NY rev (3m)-0.11%
Valuation
Industry RankSector Rank
PE 6.01
Fwd PE N/A
P/S 2.65
P/FCF 8.75
P/OCF 3.82
P/B 0.8
P/tB 0.82
EV/EBITDA 14.89
EPS(TTM)4.19
EY16.64%
EPS(NY)-0.04
Fwd EYN/A
FCF(TTM)2.88
FCFY11.43%
OCF(TTM)6.6
OCFY26.21%
SpS9.5
BVpS31.4
TBVpS30.82
PEG (NY)N/A
PEG (5Y)N/A
Graham Number54.41
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 0.2
F-Score9
WACC5.81%
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-100.96%
EPS Next 2Y-72.66%
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 Year0.95%
Revenue Next 2Y2.95%
Revenue Next 3Y5.05%
Revenue Next 5Y3.81%
EBIT growth 1Y3.97%
EBIT growth 3Y-4.24%
EBIT growth 5Y11.55%
EBIT Next Year198.03%
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 Fundamental Analysis 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 6.01 and the Price/Book (PB) ratio is 0.8.


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 -100.96% in the next year.