VONOVIA SE (VNA.DE) Stock Fundamental Analysis

Europe • Frankfurt Stock Exchange • FRA:VNA • DE000A1ML7J1

25.94 EUR
+0.85 (+3.39%)
Last: Feb 11, 2026, 03:22 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

4

VNA gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 67 industry peers in the Real Estate Management & Development industry. There are concerns on the financial health of VNA while its profitability can be described as average. VNA is valued quite cheap, while showing a decent growth score. This is a good combination!


Dividend Valuation Growth Profitability Health

5

1. Profitability

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

  • VNA has a Return On Assets of 3.05%. This is in the better half of the industry: VNA outperforms 74.63% of its industry peers.
  • VNA has a Return On Equity of 10.73%. This is amongst the best in the industry. VNA outperforms 86.57% 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 52.24% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for VNA is below the industry average of 4.00%.
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

  • The Profit Margin of VNA (53.84%) is better than 85.07% of its industry peers.
  • VNA has a Operating Margin of 39.09%. This is in the better half of the industry: VNA outperforms 65.67% 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 61.19% of its industry peers.
  • VNA's Gross Margin has declined in the last couple of years.
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. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), VNA is destroying value.
  • VNA has more shares outstanding than it did 1 year ago.
  • The number of shares outstanding for VNA has been increased compared to 5 years ago.
  • Compared to 1 year ago, VNA has a worse debt to assets ratio.
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 0.64, we must say that VNA is in the distress zone and has some risk of bankruptcy.
  • VNA's Altman-Z score of 0.64 is on the low side compared to the rest of the industry. VNA is outperformed by 64.18% of its industry peers.
  • The Debt to FCF ratio of VNA is 21.28, which is on the high side as it means it would take VNA, 21.28 years of fcf income to pay off all of its debts.
  • VNA has a Debt to FCF ratio (21.28) which is in line with 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 68.66% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.42
Debt/FCF 21.28
Altman-Z 0.64
ROIC/WACC0.52
WACC3.3%
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

  • A Current Ratio of 0.80 indicates that VNA may have some problems paying its short term obligations.
  • VNA has a Current ratio of 0.80. This is in the lower half of the industry: VNA underperforms 67.16% 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 41.79% 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. Growth

3.1 Past

  • VNA shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 154.05%, which is quite impressive.
  • 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.
  • The Revenue has grown by 10.40% in the past year. This is quite good.
  • 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

  • The Earnings Per Share is expected to grow by 20.51% on average over the next years. This is a very strong growth
  • VNA is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -1.88% yearly.
EPS Next Y47.57%
EPS Next 2Y27.08%
EPS Next 3Y20.51%
EPS Next 5YN/A
Revenue Next Year8.18%
Revenue Next 2Y4.9%
Revenue Next 3Y4.69%
Revenue Next 5Y-1.88%

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same 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.
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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Find the best growth stocksShow best growing peers

8

4. Valuation

4.1 Price/Earnings Ratio

  • VNA is valuated cheaply with a Price/Earnings ratio of 6.90.
  • Based on the Price/Earnings ratio, VNA is valued cheaper than 91.04% of the companies in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 28.03, VNA is valued rather cheaply.
  • VNA is valuated reasonably with a Price/Forward Earnings ratio of 10.43.
  • Based on the Price/Forward Earnings ratio, VNA is valued cheaper than 85.07% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 27.97. VNA is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 6.9
Fwd PE 10.43
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 ratio is in line with the industry average.
  • VNA's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. VNA is cheaper than 68.66% of the companies in the same industry.
Industry RankSector Rank
P/FCF 10.87
EV/EBITDA 24.56
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 20.51% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.15
PEG (5Y)0.33
EPS Next 2Y27.08%
EPS Next 3Y20.51%

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

6

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 5.04%, VNA is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 4.45, VNA pays a bit more dividend than its industry peers.
  • VNA's Dividend Yield is rather good when compared to the S&P500 average which is at 1.80.
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

  • VNA pays out 23.13% of its income as dividend. This is a sustainable payout ratio.
DP23.13%
EPS Next 2Y27.08%
EPS Next 3Y20.51%
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

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VONOVIA SE

FRA:VNA (2/11/2026, 3:22:16 PM)

25.94

+0.85 (+3.39%)

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 Owners55.73%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap22.00B
Revenue(TTM)5.20B
Net Income(TTM)2.80B
Analysts72.59
Price Target34.29 (32.19%)
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)-1.84%
PT rev (3m)-3.02%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0.64%
EPS NY rev (1m)0.22%
EPS NY rev (3m)5.64%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.06%
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.67%
Valuation
Industry RankSector Rank
PE 6.9
Fwd PE 10.43
P/S 4.23
P/FCF 10.87
P/OCF 8.14
P/B 0.84
P/tB 0.89
EV/EBITDA 24.56
EPS(TTM)3.76
EY14.49%
EPS(NY)2.49
Fwd EY9.59%
FCF(TTM)2.39
FCFY9.2%
OCF(TTM)3.19
OCFY12.29%
SpS6.13
BVpS30.76
TBVpS29.06
PEG (NY)0.15
PEG (5Y)0.33
Graham Number51.01
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 0.64
F-Score5
WACC3.3%
ROIC/WACC0.52
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 Y47.57%
EPS Next 2Y27.08%
EPS Next 3Y20.51%
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 Year8.18%
Revenue Next 2Y4.9%
Revenue Next 3Y4.69%
Revenue Next 5Y-1.88%
EBIT growth 1Y-12.88%
EBIT growth 3Y-37.44%
EBIT growth 5Y-16.45%
EBIT Next Year11.08%
EBIT Next 3Y7.83%
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 6.9 and the Price/Book (PB) ratio is 0.84.


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%.