VONOVIA SE (VNA.DE) Fundamental Analysis & Valuation

FRA:VNA • DE000A1ML7J1

25.14 EUR
-0.66 (-2.56%)
Last: Mar 9, 2026, 02:28 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

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

Fundamental Rating

4

Overall VNA gets a fundamental rating of 4 out of 10. We evaluated VNA against 74 industry peers in the Real Estate Management & Development industry. While VNA is still in line with the averages on profitability rating, there are concerns on its financial health. VNA is valued quite cheap, while showing a decent growth score. This is a good combination!


Dividend Valuation Growth Profitability Health

5

1. VNA.DE Profitability Analysis

1.1 Basic Checks

  • VNA had positive earnings in the past year.
  • In the past year VNA had a positive cash flow from operations.
  • In multiple years VNA reported negative net income over the last 5 years.
  • Each year in the past 5 years VNA had a positive operating cash flow.
VNA.DE Yearly Net Income VS EBIT VS OCF VS FCFVNA.DE 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 0 5B -5B

1.2 Ratios

  • With a decent Return On Assets value of 3.05%, VNA is doing good in the industry, outperforming 72.97% of the companies in the same industry.
  • VNA's Return On Equity of 10.73% is amongst the best of the industry. VNA outperforms 85.14% of its industry peers.
  • VNA has a Return On Invested Capital of 1.71%. This is comparable to the rest of the industry: VNA outperforms 54.05% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for VNA is below the industry average of 3.95%.
Industry RankSector Rank
ROA 3.05%
ROE 10.73%
ROIC 1.71%
ROA(3y)-2.82%
ROA(5y)-0.23%
ROE(3y)-10.09%
ROE(5y)-2.01%
ROIC(3y)1.79%
ROIC(5y)3.74%
VNA.DE Yearly ROA, ROE, ROICVNA.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 -20

1.3 Margins

  • Looking at the Profit Margin, with a value of 53.84%, VNA belongs to the top of the industry, outperforming 82.43% of the companies in the same industry.
  • The Operating Margin of VNA (39.09%) is better than 66.22% of its industry peers.
  • In the last couple of years the Operating Margin of VNA has declined.
  • VNA's Gross Margin of 68.51% is fine compared to the rest of the industry. VNA outperforms 63.51% of its industry peers.
  • In the last couple of years the Gross Margin of VNA has declined.
Industry RankSector Rank
OM 39.09%
PM (TTM) 53.84%
GM 68.51%
OM growth 3Y-19.15%
OM growth 5Y-10.93%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-10.19%
GM growth 5Y-5.86%
VNA.DE Yearly Profit, Operating, Gross MarginsVNA.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50 -100

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ROAROEROICOperating and Profit MarginShow most profitable peers

1

2. VNA.DE Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), VNA is destroying value.
  • Compared to 1 year ago, VNA has more shares outstanding
  • Compared to 5 years ago, VNA has more shares outstanding
  • The debt/assets ratio for VNA is higher compared to a year ago.
VNA.DE Yearly Shares OutstandingVNA.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B
VNA.DE Yearly Total Debt VS Total AssetsVNA.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B 80B 100B

2.2 Solvency

  • Based on the Altman-Z score of 0.65, we must say that VNA is in the distress zone and has some risk of bankruptcy.
  • VNA has a Altman-Z score (0.65) which is comparable to the rest of the industry.
  • VNA has a debt to FCF ratio of 21.28. This is a negative value and a sign of low solvency as VNA would need 21.28 years to pay back of all of its debts.
  • The Debt to FCF ratio of VNA (21.28) is better than 60.81% of its industry peers.
  • A Debt/Equity ratio of 1.42 is on the high side and indicates that VNA has dependencies on debt financing.
  • VNA has a worse Debt to Equity ratio (1.42) than 68.92% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.42
Debt/FCF 21.28
Altman-Z 0.65
ROIC/WACC0.51
WACC3.34%
VNA.DE Yearly LT Debt VS Equity VS FCFVNA.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B 40B

2.3 Liquidity

  • VNA has a Current Ratio of 0.80. This is a bad value and indicates that VNA is not financially healthy enough and could expect problems in meeting its short term obligations.
  • VNA has a Current ratio of 0.80. This is in the lower half of the industry: VNA underperforms 66.22% of its industry peers.
  • VNA has a Quick Ratio of 0.80. This is a bad value and indicates that VNA is not financially healthy enough and could expect problems in meeting its short term obligations.
  • VNA's Quick ratio of 0.57 is in line compared to the rest of the industry. VNA outperforms 43.24% of its industry peers.
Industry RankSector Rank
Current Ratio 0.8
Quick Ratio 0.57
VNA.DE Yearly Current Assets VS Current LiabilitesVNA.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B

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

5

3. VNA.DE Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 154.05% over the past year.
  • Measured over the past years, VNA shows a very strong growth in Earnings Per Share. The EPS has been growing by 21.13% on average per year.
  • VNA shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 10.40%.
  • VNA shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -6.20% yearly.
EPS 1Y (TTM)154.05%
EPS 3YN/A
EPS 5Y21.13%
EPS Q2Q%391.23%
Revenue 1Y (TTM)10.4%
Revenue growth 3Y-22.62%
Revenue growth 5Y-6.2%
Sales Q2Q%-3.64%

3.2 Future

  • VNA is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 22.08% yearly.
  • The Revenue is expected to decrease by -1.88% on average over the next years.
EPS Next Y45.75%
EPS Next 2Y27.37%
EPS Next 3Y22.08%
EPS Next 5YN/A
Revenue Next Year11.79%
Revenue Next 2Y8.16%
Revenue Next 3Y7.27%
Revenue Next 5Y-1.88%

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 stable.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
VNA.DE Yearly Revenue VS EstimatesVNA.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2B 4B 6B 8B 10B
VNA.DE Yearly EPS VS EstimatesVNA.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1 2 3

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8

4. VNA.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • VNA is valuated cheaply with a Price/Earnings ratio of 6.69.
  • VNA's Price/Earnings ratio is rather cheap when compared to the industry. VNA is cheaper than 86.49% of the companies in the same industry.
  • VNA is valuated cheaply when we compare the Price/Earnings ratio to 26.29, which is the current average of the S&P500 Index.
  • With a Price/Forward Earnings ratio of 10.06, the valuation of VNA can be described as very reasonable.
  • Based on the Price/Forward Earnings ratio, VNA is valued cheaper than 81.08% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of VNA to the average of the S&P500 Index (24.60), we can say VNA is valued rather cheaply.
Industry RankSector Rank
PE 6.69
Fwd PE 10.06
VNA.DE Price Earnings VS Forward Price EarningsVNA.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • VNA's Enterprise Value to EBITDA is on the same level as the industry average.
  • Based on the Price/Free Cash Flow ratio, VNA is valued a bit cheaper than 70.27% of the companies in the same industry.
Industry RankSector Rank
P/FCF 10.54
EV/EBITDA 24.81
VNA.DE Per share dataVNA.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

  • VNA's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • VNA's earnings are expected to grow with 22.08% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.15
PEG (5Y)0.32
EPS Next 2Y27.37%
EPS Next 3Y22.08%

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

6

5. VNA.DE Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 5.04%, VNA is a good candidate for dividend investing.
  • VNA's Dividend Yield is a higher than the industry average which is at 4.13.
  • VNA's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 5.04%

5.2 History

  • The dividend of VNA decreases each year by -4.09%.
Dividend Growth(5Y)-4.09%
Div Incr Years1
Div Non Decr Years2
VNA.DE Yearly Dividends per shareVNA.DE Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 1 2 3

5.3 Sustainability

  • 23.13% of the earnings are spent on dividend by VNA. This is a low number and sustainable payout ratio.
DP23.13%
EPS Next 2Y27.37%
EPS Next 3Y22.08%
VNA.DE Yearly Income VS Free CF VS DividendVNA.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B -2B -4B -6B
VNA.DE Dividend Payout.VNA.DE Dividend Payout, showing the Payout Ratio.VNA.DE Dividend Payout.PayoutRetained Earnings

More info and screens

Find the best dividend stocksShow peers with best dividend

VNA.DE Fundamentals: All Metrics, Ratios and Statistics

VONOVIA SE

FRA:VNA (3/9/2026, 2:28:16 PM)

25.14

-0.66 (-2.56%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryReal Estate Management & Development
Earnings (Last)11-05
Earnings (Next)03-19
Inst Owners54.46%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap21.33B
Revenue(TTM)5.20B
Net Income(TTM)2.80B
Analysts75.71
Price Target34.29 (36.4%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.04%
Yearly Dividend0.31
Dividend Growth(5Y)-4.09%
DP23.13%
Div Incr Years1
Div Non Decr Years2
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)224.83%
Min EPS beat(2)0.69%
Max EPS beat(2)448.97%
EPS beat(4)3
Avg EPS beat(4)84.66%
Min EPS beat(4)-165.18%
Max EPS beat(4)448.97%
EPS beat(8)5
Avg EPS beat(8)31.23%
EPS beat(12)8
Avg EPS beat(12)22.29%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)2
Avg Revenue beat(2)51.46%
Min Revenue beat(2)51.27%
Max Revenue beat(2)51.65%
Revenue beat(4)4
Avg Revenue beat(4)52.15%
Min Revenue beat(4)51.27%
Max Revenue beat(4)54.12%
Revenue beat(8)7
Avg Revenue beat(8)45.82%
Revenue beat(12)11
Avg Revenue beat(12)49.45%
Revenue beat(16)15
Avg Revenue beat(16)66.82%
PT rev (1m)0%
PT rev (3m)-2.1%
EPS NQ rev (1m)-0.11%
EPS NQ rev (3m)-0.53%
EPS NY rev (1m)-1.23%
EPS NY rev (3m)3.62%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.01%
Revenue NY rev (1m)3.34%
Revenue NY rev (3m)9.06%
Valuation
Industry RankSector Rank
PE 6.69
Fwd PE 10.06
P/S 4.1
P/FCF 10.54
P/OCF 7.89
P/B 0.82
P/tB 0.87
EV/EBITDA 24.81
EPS(TTM)3.76
EY14.96%
EPS(NY)2.5
Fwd EY9.94%
FCF(TTM)2.38
FCFY9.49%
OCF(TTM)3.19
OCFY12.68%
SpS6.13
BVpS30.75
TBVpS29.06
PEG (NY)0.15
PEG (5Y)0.32
Graham Number51
Profitability
Industry RankSector Rank
ROA 3.05%
ROE 10.73%
ROCE 2.43%
ROIC 1.71%
ROICexc 1.78%
ROICexgc 1.82%
OM 39.09%
PM (TTM) 53.84%
GM 68.51%
FCFM 38.92%
ROA(3y)-2.82%
ROA(5y)-0.23%
ROE(3y)-10.09%
ROE(5y)-2.01%
ROIC(3y)1.79%
ROIC(5y)3.74%
ROICexc(3y)1.84%
ROICexc(5y)3.81%
ROICexgc(3y)1.87%
ROICexgc(5y)3.91%
ROCE(3y)2.54%
ROCE(5y)5.31%
ROICexgc growth 3Y-34.18%
ROICexgc growth 5Y-23.42%
ROICexc growth 3Y-33.93%
ROICexc growth 5Y-23.25%
OM growth 3Y-19.15%
OM growth 5Y-10.93%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-10.19%
GM growth 5Y-5.86%
F-Score5
Asset Turnover0.06
Health
Industry RankSector Rank
Debt/Equity 1.42
Debt/FCF 21.28
Debt/EBITDA 15.01
Cap/Depr 156.18%
Cap/Sales 13.1%
Interest Coverage 2.35
Cash Conversion 109.56%
Profit Quality 72.29%
Current Ratio 0.8
Quick Ratio 0.57
Altman-Z 0.65
F-Score5
WACC3.34%
ROIC/WACC0.51
Cap/Depr(3y)180.71%
Cap/Depr(5y)169.46%
Cap/Sales(3y)9.41%
Cap/Sales(5y)7.03%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)154.05%
EPS 3YN/A
EPS 5Y21.13%
EPS Q2Q%391.23%
EPS Next Y45.75%
EPS Next 2Y27.37%
EPS Next 3Y22.08%
EPS Next 5YN/A
Revenue 1Y (TTM)10.4%
Revenue growth 3Y-22.62%
Revenue growth 5Y-6.2%
Sales Q2Q%-3.64%
Revenue Next Year11.79%
Revenue Next 2Y8.16%
Revenue Next 3Y7.27%
Revenue Next 5Y-1.88%
EBIT growth 1Y-12.88%
EBIT growth 3Y-37.44%
EBIT growth 5Y-16.45%
EBIT Next Year10.8%
EBIT Next 3Y7.58%
EBIT Next 5YN/A
FCF growth 1Y84.61%
FCF growth 3Y9.27%
FCF growth 5Y5.54%
OCF growth 1Y43.98%
OCF growth 3Y9.83%
OCF growth 5Y9.07%

VONOVIA SE / VNA.DE FAQ

What is the ChartMill fundamental rating of VONOVIA SE (VNA.DE) stock?

ChartMill assigns a fundamental rating of 4 / 10 to VNA.DE.


What is the valuation status of VONOVIA SE (VNA.DE) stock?

ChartMill assigns a valuation rating of 8 / 10 to VONOVIA SE (VNA.DE). This can be considered as Undervalued.


How profitable is VONOVIA SE (VNA.DE) stock?

VONOVIA SE (VNA.DE) has a profitability rating of 5 / 10.


What is the valuation of VONOVIA SE based on its PE and PB ratios?

The Price/Earnings (PE) ratio for VONOVIA SE (VNA.DE) is 6.69 and the Price/Book (PB) ratio is 0.82.


How sustainable is the dividend of VONOVIA SE (VNA.DE) stock?

The dividend rating of VONOVIA SE (VNA.DE) is 6 / 10 and the dividend payout ratio is 23.13%.