VONOVIA SE (VNA.DE) Fundamental Analysis & Valuation

FRA:VNA • DE000A1ML7J1

Current stock price

22.41 EUR
+0.11 (+0.49%)
Last:

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

6

1. VNA.DE Profitability Analysis

1.1 Basic Checks

  • In the past year VNA was profitable.
  • 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.
  • In the past 5 years VNA always reported a positive cash flow from operatings.
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 2025 0 5B -5B

1.2 Ratios

  • The Return On Assets of VNA (3.99%) is better than 81.25% of its industry peers.
  • VNA has a Return On Equity of 13.55%. This is amongst the best in the industry. VNA outperforms 93.75% of its industry peers.
  • With a Return On Invested Capital value of 1.69%, VNA perfoms like the industry average, outperforming 51.56% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for VNA is below the industry average of 4.09%.
Industry RankSector Rank
ROA 3.99%
ROE 13.55%
ROIC 1.69%
ROA(3y)-1.28%
ROA(5y)-0.47%
ROE(3y)-4.88%
ROE(5y)-1.97%
ROIC(3y)1.8%
ROIC(5y)2.78%
VNA.DE Yearly ROA, ROE, ROICVNA.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10 -20

1.3 Margins

  • Looking at the Profit Margin, with a value of 73.56%, VNA belongs to the top of the industry, outperforming 89.06% of the companies in the same industry.
  • In the last couple of years the Profit Margin of VNA has grown nicely.
  • The Operating Margin of VNA (41.17%) is better than 65.63% of its industry peers.
  • VNA's Operating Margin has declined in the last couple of years.
  • With a decent Gross Margin value of 71.21%, VNA is doing good in the industry, outperforming 64.06% of the companies in the same industry.
  • In the last couple of years the Gross Margin of VNA has declined.
Industry RankSector Rank
OM 41.17%
PM (TTM) 73.56%
GM 71.21%
OM growth 3Y-2.1%
OM growth 5Y-11.85%
PM growth 3YN/A
PM growth 5Y10.13%
GM growth 3Y2.75%
GM growth 5Y-4.2%
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 2025 0 50 -50 -100

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2

2. VNA.DE Health Analysis

2.1 Basic Checks

  • VNA has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it 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 an improved debt to assets ratio.
VNA.DE Yearly Shares OutstandingVNA.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 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 2025 20B 40B 60B 80B 100B

2.2 Solvency

  • VNA has an Altman-Z score of 0.67. This is a bad value and indicates that VNA is not financially healthy and even has some risk of bankruptcy.
  • VNA's Altman-Z score of 0.67 is in line compared to the rest of the industry. VNA outperforms 46.88% of its industry peers.
  • VNA has a debt to FCF ratio of 20.62. This is a negative value and a sign of low solvency as VNA would need 20.62 years to pay back of all of its debts.
  • VNA has a Debt to FCF ratio (20.62) which is comparable to the rest of the industry.
  • VNA has a Debt/Equity ratio of 1.42. This is a high value indicating a heavy dependency on external financing.
  • VNA's Debt to Equity ratio of 1.42 is on the low side compared to the rest of the industry. VNA is outperformed by 68.75% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.42
Debt/FCF 20.62
Altman-Z 0.67
ROIC/WACC0.52
WACC3.26%
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 2025 10B 20B 30B 40B

2.3 Liquidity

  • A Current Ratio of 1.07 indicates that VNA should not have too much problems paying its short term obligations.
  • Looking at the Current ratio, with a value of 1.07, VNA is in line with its industry, outperforming 48.44% of the companies in the same industry.
  • A Quick Ratio of 0.77 indicates that VNA may have some problems paying its short term obligations.
  • VNA has a Quick ratio (0.77) which is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 1.07
Quick Ratio 0.77
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 2025 2B 4B 6B 8B

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4

3. VNA.DE Growth Analysis

3.1 Past

  • VNA shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 24.68%, which is quite impressive.
  • Measured over the past years, VNA shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -12.92% on average per year.
  • VNA shows a decrease in Revenue. In the last year, the revenue decreased by -3.52%.
  • The Revenue has been decreasing by -6.57% on average over the past years.
EPS 1Y (TTM)24.68%
EPS 3Y-4.58%
EPS 5Y-12.92%
EPS Q2Q%-634.48%
Revenue 1Y (TTM)-3.52%
Revenue growth 3Y-0.64%
Revenue growth 5Y-6.57%
Sales Q2Q%-9.21%

3.2 Future

  • VNA is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 20.81% yearly.
  • Based on estimates for the next years, VNA will show a small growth in Revenue. The Revenue will grow by 0.49% on average per year.
EPS Next Y30.12%
EPS Next 2Y20.81%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-0.84%
Revenue Next 2Y0.89%
Revenue Next 3Y0.49%
Revenue Next 5YN/A

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 accelerating.
  • 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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8

4. VNA.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 11.67, which indicates a very decent valuation of VNA.
  • 71.88% of the companies in the same industry are more expensive than VNA, based on the Price/Earnings ratio.
  • VNA is valuated cheaply when we compare the Price/Earnings ratio to 26.21, which is the current average of the S&P500 Index.
  • Based on the Price/Forward Earnings ratio of 8.97, the valuation of VNA can be described as reasonable.
  • 82.81% of the companies in the same industry are more expensive than VNA, based on the Price/Forward Earnings ratio.
  • When comparing the Price/Forward Earnings ratio of VNA to the average of the S&P500 Index (23.13), we can say VNA is valued rather cheaply.
Industry RankSector Rank
PE 11.67
Fwd PE 8.97
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

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as VNA.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of VNA indicates a somewhat cheap valuation: VNA is cheaper than 71.88% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 9.05
EV/EBITDA 22.42
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.
  • The decent profitability rating of VNA may justify a higher PE ratio.
  • VNA's earnings are expected to grow with 20.81% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.39
PEG (5Y)N/A
EPS Next 2Y20.81%
EPS Next 3YN/A

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7

5. VNA.DE Dividend Analysis

5.1 Amount

  • VNA has a Yearly Dividend Yield of 5.80%, which is a nice return.
  • Compared to an average industry Dividend Yield of 4.68, VNA pays a better dividend. On top of this VNA pays more dividend than 82.81% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.89, VNA pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.8%

5.2 History

  • The dividend of VNA decreases each year by -3.16%.
Dividend Growth(5Y)-3.16%
Div Incr Years2
Div Non Decr Years3
VNA.DE Yearly Dividends per shareVNA.DE Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3

5.3 Sustainability

  • 17.38% of the earnings are spent on dividend by VNA. This is a low number and sustainable payout ratio.
DP17.38%
EPS Next 2Y20.81%
EPS Next 3YN/A
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 2025 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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VNA.DE Fundamentals: All Metrics, Ratios and Statistics

VONOVIA SE

FRA:VNA (4/2/2026, 7:00:00 PM)

22.41

+0.11 (+0.49%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryReal Estate Management & Development
Earnings (Last)03-19
Earnings (Next)05-07
Inst Owners54.46%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap19.01B
Revenue(TTM)5.06B
Net Income(TTM)3.72B
Analysts75
Price Target33.04 (47.43%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.8%
Yearly Dividend0.39
Dividend Growth(5Y)-3.16%
DP17.38%
Div Incr Years2
Div Non Decr Years3
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-50.35%
Min EPS beat(2)-549.66%
Max EPS beat(2)448.97%
EPS beat(4)3
Avg EPS beat(4)-11.46%
Min EPS beat(4)-549.66%
Max EPS beat(4)448.97%
EPS beat(8)5
Avg EPS beat(8)-16.43%
EPS beat(12)8
Avg EPS beat(12)-18.5%
EPS beat(16)10
Avg EPS beat(16)-15.71%
Revenue beat(2)2
Avg Revenue beat(2)44.32%
Min Revenue beat(2)37%
Max Revenue beat(2)51.65%
Revenue beat(4)4
Avg Revenue beat(4)47.87%
Min Revenue beat(4)37%
Max Revenue beat(4)51.65%
Revenue beat(8)8
Avg Revenue beat(8)51.42%
Revenue beat(12)11
Avg Revenue beat(12)48.4%
Revenue beat(16)15
Avg Revenue beat(16)50.41%
PT rev (1m)-3.65%
PT rev (3m)-5.42%
EPS NQ rev (1m)-8.45%
EPS NQ rev (3m)-8.83%
EPS NY rev (1m)0%
EPS NY rev (3m)6.55%
Revenue NQ rev (1m)0.4%
Revenue NQ rev (3m)0.42%
Revenue NY rev (1m)-5.23%
Revenue NY rev (3m)0.75%
Valuation
Industry RankSector Rank
PE 11.67
Fwd PE 8.97
P/S 3.76
P/FCF 9.05
P/OCF 7.76
P/B 0.69
P/tB 0.73
EV/EBITDA 22.42
EPS(TTM)1.92
EY8.57%
EPS(NY)2.5
Fwd EY11.15%
FCF(TTM)2.48
FCFY11.05%
OCF(TTM)2.89
OCFY12.88%
SpS5.97
BVpS32.38
TBVpS30.69
PEG (NY)0.39
PEG (5Y)N/A
Graham Number37.4
Profitability
Industry RankSector Rank
ROA 3.99%
ROE 13.55%
ROCE 2.4%
ROIC 1.69%
ROICexc 1.76%
ROICexgc 1.79%
OM 41.17%
PM (TTM) 73.56%
GM 71.21%
FCFM 41.5%
ROA(3y)-1.28%
ROA(5y)-0.47%
ROE(3y)-4.88%
ROE(5y)-1.97%
ROIC(3y)1.8%
ROIC(5y)2.78%
ROICexc(3y)1.86%
ROICexc(5y)2.86%
ROICexgc(3y)1.89%
ROICexgc(5y)2.92%
ROCE(3y)2.56%
ROCE(5y)3.95%
ROICexgc growth 3Y1.28%
ROICexgc growth 5Y-23.26%
ROICexc growth 3Y1.29%
ROICexc growth 5Y-23.11%
OM growth 3Y-2.1%
OM growth 5Y-11.85%
PM growth 3YN/A
PM growth 5Y10.13%
GM growth 3Y2.75%
GM growth 5Y-4.2%
F-Score6
Asset Turnover0.05
Health
Industry RankSector Rank
Debt/Equity 1.42
Debt/FCF 20.62
Debt/EBITDA 14.99
Cap/Depr 67.66%
Cap/Sales 6.87%
Interest Coverage 2.41
Cash Conversion 94.24%
Profit Quality 56.42%
Current Ratio 1.07
Quick Ratio 0.77
Altman-Z 0.67
F-Score6
WACC3.26%
ROIC/WACC0.52
Cap/Depr(3y)197.32%
Cap/Depr(5y)123.99%
Cap/Sales(3y)10.23%
Cap/Sales(5y)7.64%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)24.68%
EPS 3Y-4.58%
EPS 5Y-12.92%
EPS Q2Q%-634.48%
EPS Next Y30.12%
EPS Next 2Y20.81%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-3.52%
Revenue growth 3Y-0.64%
Revenue growth 5Y-6.57%
Sales Q2Q%-9.21%
Revenue Next Year-0.84%
Revenue Next 2Y0.89%
Revenue Next 3Y0.49%
Revenue Next 5YN/A
EBIT growth 1Y-9.74%
EBIT growth 3Y-2.73%
EBIT growth 5Y-17.65%
EBIT Next Year-6.66%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y10.28%
FCF growth 3Y4.21%
FCF growth 5Y12.64%
OCF growth 1Y1.94%
OCF growth 3Y5.51%
OCF growth 5Y11.35%

VONOVIA SE / VNA.DE Fundamental Analysis FAQ

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

ChartMill assigns a fundamental rating of 5 / 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.


Can you provide the profitability details for VONOVIA SE?

VONOVIA SE (VNA.DE) has a profitability rating of 6 / 10.


What is the financial health of VONOVIA SE (VNA.DE) stock?

The financial health rating of VONOVIA SE (VNA.DE) is 2 / 10.


What is the earnings growth outlook for VONOVIA SE?

The Earnings per Share (EPS) of VONOVIA SE (VNA.DE) is expected to grow by 30.12% in the next year.