VORNADO REALTY TRUST (VNO) Fundamental Analysis & Valuation

NYSE:VNO • US9290421091

Current stock price

29.53 USD
-0.05 (-0.17%)
Last:

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.
  • 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 94.26% of the companies in the same industry.
  • VNO has a better Return On Equity (14.08%) than 94.26% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 1.32%, VNO is doing worse than 77.05% 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 3.12%.
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

  • With an excellent Profit Margin value of 46.56%, VNO belongs to the best of the industry, outperforming 95.90% of the companies in the same industry.
  • VNO has a worse Operating Margin (14.43%) than 64.75% of its industry peers.
  • 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

  • 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 remains at a similar level compared to 1 year ago.
  • VNO has about the same amout of shares outstanding than it did 5 years ago.
  • The debt/assets ratio for VNO has been reduced compared to a year ago.
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 0.25. This is a bad value and indicates that VNO is not financially healthy and even has some risk of bankruptcy.
  • VNO has a Altman-Z score of 0.25. This is in the lower half of the industry: VNO underperforms 62.30% of its industry peers.
  • VNO has a debt to FCF ratio of 13.09. This is a negative value and a sign of low solvency as VNO would need 13.09 years to pay back of all of its debts.
  • VNO has a Debt to FCF ratio of 13.09. This is amongst the best in the industry. VNO outperforms 86.89% of its industry peers.
  • A Debt/Equity ratio of 1.20 is on the high side and indicates that VNO has dependencies on debt financing.
  • VNO's Debt to Equity ratio of 1.20 is in line compared to the rest of the industry. VNO outperforms 54.92% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.2
Debt/FCF 13.09
Altman-Z 0.25
ROIC/WACC0.22
WACC5.96%
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.
  • The Current ratio of VNO (1.55) is better than 75.41% of its industry peers.
  • A Quick Ratio of 1.55 indicates that VNO should not have too much problems paying its short term obligations.
  • VNO has a better Quick ratio (1.55) 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

  • VNO shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 10375.00%, which is quite impressive.
  • The Earnings Per Share has been growing by 87.07% on average over the past years. This is a very strong growth
  • 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-101.21%
EPS Next 2Y-75.95%
EPS Next 3Y-54.92%
EPS Next 5Y-32.07%
Revenue Next Year4.14%
Revenue Next 2Y4.78%
Revenue Next 3Y4.66%
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 7.05, 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.
  • VNO is valuated cheaply when we compare the Price/Earnings ratio to 27.95, 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 7.05
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

4.2 Price Multiples

  • VNO's Enterprise Value to EBITDA is on the same level as the industry average.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of VNO indicates a rather cheap valuation: VNO is cheaper than 92.62% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 10.14
EV/EBITDA 16.05
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 -54.92% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-75.95%
EPS Next 3Y-54.92%

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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 2.61%. Purely for dividend investing, there may be better candidates out there.
  • With a Dividend Yield of 2.61, VNO pays less dividend than the industry average, which is at 7.46. 81.97% of the companies listed in the same industry pay a better dividend than VNO!
  • Compared to an average S&P500 Dividend Yield of 1.81, VNO pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.61%

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.
Dividend Growth(5Y)-25.57%
Div Incr Years0
Div Non Decr Years0
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.
  • The Dividend Rate of VNO has been decling, while earnings will also be declining. This means the current dividend is most likely not sustainable.
DP24.13%
EPS Next 2Y-75.95%
EPS Next 3Y-54.92%
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

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VNO Fundamentals: All Metrics, Ratios and Statistics

VORNADO REALTY TRUST

NYSE:VNO (4/21/2026, 10:37:19 AM)

29.53

-0.05 (-0.17%)

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 Owners94.06%
Inst Owner Change0.18%
Ins Owners6.69%
Ins Owner Change4.27%
Market Cap5.57B
Revenue(TTM)1.81B
Net Income(TTM)842.85M
Analysts66.67
Price Target33.32 (12.83%)
Short Float %5.5%
Short Ratio4.1
Dividend
Industry RankSector Rank
Dividend Yield 2.61%
Yearly Dividend1.07
Dividend Growth(5Y)-25.57%
DP24.13%
Div Incr Years0
Div Non Decr Years0
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)-13.69%
PT rev (3m)-16.24%
EPS NQ rev (1m)22.73%
EPS NQ rev (3m)-440%
EPS NY rev (1m)-25%
EPS NY rev (3m)-900%
Revenue NQ rev (1m)-3.88%
Revenue NQ rev (3m)-4.25%
Revenue NY rev (1m)3.16%
Revenue NY rev (3m)3.04%
Valuation
Industry RankSector Rank
PE 7.05
Fwd PE N/A
P/S 3.08
P/FCF 10.14
P/OCF 4.42
P/B 0.93
P/tB 0.95
EV/EBITDA 16.05
EPS(TTM)4.19
EY14.19%
EPS(NY)-0.05
Fwd EYN/A
FCF(TTM)2.91
FCFY9.86%
OCF(TTM)6.67
OCFY22.6%
SpS9.6
BVpS31.75
TBVpS31.16
PEG (NY)N/A
PEG (5Y)N/A
Graham Number54.7116 (85.27%)
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 0.25
F-Score9
WACC5.96%
ROIC/WACC0.22
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-101.21%
EPS Next 2Y-75.95%
EPS Next 3Y-54.92%
EPS Next 5Y-32.07%
Revenue 1Y (TTM)1.27%
Revenue growth 3Y0.19%
Revenue growth 5Y3.45%
Sales Q2Q%-0.89%
Revenue Next Year4.14%
Revenue Next 2Y4.78%
Revenue Next 3Y4.66%
Revenue Next 5Y3.81%
EBIT growth 1Y3.97%
EBIT growth 3Y-4.24%
EBIT growth 5Y11.55%
EBIT Next Year212.36%
EBIT Next 3Y58.48%
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.


What is the profitability of VNO stock?

VORNADO REALTY TRUST (VNO) has a profitability rating of 5 / 10.


Can you provide the PE and PB ratios for VNO stock?

The Price/Earnings (PE) ratio for VORNADO REALTY TRUST (VNO) is 7.05 and the Price/Book (PB) ratio is 0.93.


Can you provide the dividend sustainability for VNO stock?

The dividend rating of VORNADO REALTY TRUST (VNO) is 4 / 10 and the dividend payout ratio is 24.13%.