VORNADO REALTY TRUST (VNO)
US9290421091 - REIT
VNO gets a fundamental rating of 2 out of 10. The analysis compared the fundamentals against 130 industry peers in the Diversified REITs industry. VNO has a bad profitability rating. Also its financial health evaluation is rather negative. VNO is valued expensive and it does not seem to be growing.
1. Profitability
1.1 Basic Checks
VNO had positive earnings in the past year.
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.
VNO had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
VNO has a worse Return On Assets (-0.34%) than 66.41% of its industry peers.
VNO's Return On Equity of -1.02% is on the low side compared to the rest of the industry. VNO is outperformed by 64.06% of its industry peers.
VNO has a Return On Invested Capital of 1.28%. This is amonst the worse of the industry: VNO underperforms 85.16% 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 3.08%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -0.34% | ||
| ROE | -1.02% | ||
| ROIC | 1.28% |
ROA(3y)-0.54%
ROA(5y)2.63%
ROE(3y)-1.53%
ROE(5y)7.22%
ROIC(3y)1.41%
ROIC(5y)1.38%
1.3 Margins
In the last couple of years the Profit Margin of VNO has declined.
VNO has a Operating Margin of 13.65%. This is in the lower half of the industry: VNO underperforms 67.97% of its industry peers.
In the last couple of years the Operating Margin of VNO has declined.
VNO has a Gross Margin of 48.54%. This is amonst the worse of the industry: VNO underperforms 81.25% of its industry peers.
In the last couple of years the Gross Margin of VNO has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 13.65% | ||
| PM (TTM) | N/A | ||
| GM | 48.54% |
OM growth 3Y18.3%
OM growth 5Y-10.42%
PM growth 3YN/A
PM growth 5Y-33.03%
GM growth 3Y1.14%
GM growth 5Y-2.05%
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.
VNO has less shares outstanding than it did 1 year ago.
VNO has less shares outstanding than it did 5 years ago.
The debt/assets ratio for VNO is higher compared to a year ago.
2.2 Solvency
VNO has an Altman-Z score of 0.29. 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 (0.29) than 67.97% of its industry peers.
The Debt to FCF ratio of VNO is 1892.76, which is on the high side as it means it would take VNO, 1892.76 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of VNO (1892.76) is comparable to the rest of the industry.
A Debt/Equity ratio of 1.56 is on the high side and indicates that VNO has dependencies on debt financing.
VNO has a Debt to Equity ratio of 1.56. This is in the lower half of the industry: VNO underperforms 64.84% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.56 | ||
| Debt/FCF | 1892.76 | ||
| Altman-Z | 0.29 |
ROIC/WACC0.2
WACC6.38%
2.3 Liquidity
A Current Ratio of 1.40 indicates that VNO should not have too much problems paying its short term obligations.
VNO has a Current ratio (1.40) which is in line with its industry peers.
A Quick Ratio of 1.40 indicates that VNO should not have too much problems paying its short term obligations.
With a Quick ratio value of 1.40, VNO perfoms like the industry average, outperforming 59.38% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.4 | ||
| Quick Ratio | 1.4 |
3. Growth
3.1 Past
VNO shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -78.13%.
The earnings per share for VNO have been decreasing by -28.07% on average. This is quite bad
The Revenue for VNO has decreased by -44.09% in the past year. This is quite bad
Measured over the past years, VNO shows a decrease in Revenue. The Revenue has been decreasing by -3.49% on average per year.
EPS 1Y (TTM)-78.13%
EPS 3YN/A
EPS 5Y-28.07%
EPS Q2Q%-242.86%
Revenue 1Y (TTM)-44.09%
Revenue growth 3Y5.83%
Revenue growth 5Y-3.49%
Sales Q2Q%-1.72%
3.2 Future
The Earnings Per Share is expected to grow by 5.72% on average over the next years.
VNO is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.60% yearly.
EPS Next Y-133.67%
EPS Next 2Y-61.11%
EPS Next 3Y-33.22%
EPS Next 5Y5.72%
Revenue Next Year-2.87%
Revenue Next 2Y-0.24%
Revenue Next 3Y1.11%
Revenue Next 5Y2.6%
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
The Price/Earnings ratio is 606.00, which means the current valuation is very expensive for VNO.
Based on the Price/Earnings ratio, VNO is valued a bit more expensive than the industry average as 65.63% of the companies are valued more cheaply.
Compared to an average S&P500 Price/Earnings ratio of 27.54, VNO is valued quite expensively.
VNO is expected to report negative earnings next year, which makes the Forward Price/Earnings Ratio negative.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 606 | ||
| Fwd PE | N/A |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, VNO is valued more expensive than 87.50% of the companies in the same industry.
VNO's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 1856.1 | ||
| EV/EBITDA | 21.93 |
4.3 Compensation for Growth
A cheap valuation may be justified as VNO's earnings are expected to decrease with -33.22% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-61.11%
EPS Next 3Y-33.22%
5. Dividend
5.1 Amount
VNO has a Yearly Dividend Yield of 1.85%.
Compared to an average industry Dividend Yield of 16.05, 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 slightly below the S&P500 average, which is at 2.36.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.85% |
5.2 History
The dividend of VNO decreases each year by -18.64%.
VNO has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)-18.64%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
The earnings of VNO are negative and hence is the payout ratio. VNO will probably not be able to sustain this dividend level.
DP-221.04%
EPS Next 2Y-61.11%
EPS Next 3Y-33.22%
VORNADO REALTY TRUST
NYSE:VNO (12/24/2024, 7:44:30 PM)
After market: 42.36 -0.06 (-0.14%)42.42
+0.37 (+0.88%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners91.31%
Inst Owner Change-0.95%
Ins Owners6.31%
Ins Owner Change0%
Market Cap8.08B
Analysts50.48
Price Target37.63 (-11.29%)
Short Float %8.51%
Short Ratio10.34
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.85% |
Dividend Growth(5Y)-18.64%
DP-221.04%
Div Incr Years0
Div Non Decr Years0
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)135.36%
Min EPS beat(2)0.99%
Max EPS beat(2)269.73%
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
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)-0.27%
Min Revenue beat(2)-2.02%
Max Revenue beat(2)1.49%
Revenue beat(4)1
Avg Revenue beat(4)-2.06%
Min Revenue beat(4)-3.87%
Max Revenue beat(4)1.49%
Revenue beat(8)3
Avg Revenue beat(8)35.66%
Revenue beat(12)6
Avg Revenue beat(12)32.49%
Revenue beat(16)8
Avg Revenue beat(16)24.66%
PT rev (1m)18.46%
PT rev (3m)29.84%
EPS NQ rev (1m)0%
EPS NQ rev (3m)16.67%
EPS NY rev (1m)13.33%
EPS NY rev (3m)16.12%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)1.8%
Revenue NY rev (1m)-0.28%
Revenue NY rev (3m)0%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 606 | ||
| Fwd PE | N/A | ||
| P/S | 4.56 | ||
| P/FCF | 1856.1 | ||
| P/OCF | 14.89 | ||
| P/B | 1.53 | ||
| P/tB | 1.57 | ||
| EV/EBITDA | 21.93 |
EPS(TTM)0.07
EY0.17%
EPS(NY)-0.15
Fwd EYN/A
FCF(TTM)0.02
FCFY0.05%
OCF(TTM)2.85
OCFY6.72%
SpS9.3
BVpS27.7
TBVpS27.07
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -0.34% | ||
| ROE | -1.02% | ||
| ROCE | 1.61% | ||
| ROIC | 1.28% | ||
| ROICexc | 1.35% | ||
| ROICexgc | 1.4% | ||
| OM | 13.65% | ||
| PM (TTM) | N/A | ||
| GM | 48.54% | ||
| FCFM | 0.25% |
ROA(3y)-0.54%
ROA(5y)2.63%
ROE(3y)-1.53%
ROE(5y)7.22%
ROIC(3y)1.41%
ROIC(5y)1.38%
ROICexc(3y)1.53%
ROICexc(5y)1.5%
ROICexgc(3y)1.59%
ROICexgc(5y)1.56%
ROCE(3y)1.79%
ROCE(5y)1.75%
ROICexcg growth 3Y24.24%
ROICexcg growth 5Y-11.16%
ROICexc growth 3Y24.37%
ROICexc growth 5Y-11.07%
OM growth 3Y18.3%
OM growth 5Y-10.42%
PM growth 3YN/A
PM growth 5Y-33.03%
GM growth 3Y1.14%
GM growth 5Y-2.05%
F-Score3
Asset Turnover0.11
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.56 | ||
| Debt/FCF | 1892.76 | ||
| Debt/EBITDA | 11.63 | ||
| Cap/Depr | 115.39% | ||
| Cap/Sales | 30.39% | ||
| Interest Coverage | 0.77 | ||
| Cash Conversion | 76.62% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.4 | ||
| Quick Ratio | 1.4 | ||
| Altman-Z | 0.29 |
F-Score3
WACC6.38%
ROIC/WACC0.2
Cap/Depr(3y)181.61%
Cap/Depr(5y)188.68%
Cap/Sales(3y)49.45%
Cap/Sales(5y)49.5%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-78.13%
EPS 3YN/A
EPS 5Y-28.07%
EPS Q2Q%-242.86%
EPS Next Y-133.67%
EPS Next 2Y-61.11%
EPS Next 3Y-33.22%
EPS Next 5Y5.72%
Revenue 1Y (TTM)-44.09%
Revenue growth 3Y5.83%
Revenue growth 5Y-3.49%
Sales Q2Q%-1.72%
Revenue Next Year-2.87%
Revenue Next 2Y-0.24%
Revenue Next 3Y1.11%
Revenue Next 5Y2.6%
EBIT growth 1Y-54.63%
EBIT growth 3Y25.19%
EBIT growth 5Y-13.55%
EBIT Next Year99.38%
EBIT Next 3Y31.65%
EBIT Next 5Y16%
FCF growth 1Y131.41%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-35.65%
OCF growth 3Y15.18%
OCF growth 5Y-4.18%