VORNADO REALTY TRUST (VNO) Fundamental Analysis & Valuation

NYSE:VNO • US9290421091

Current stock price

29.35 USD
-0.95 (-3.14%)
At close:
29.35 USD
0 (0%)
After Hours:

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.
  • VNO had a positive operating cash flow in the past year.
  • VNO had positive earnings in 4 of the past 5 years.
  • In the past 5 years VNO always reported a positive cash flow from operatings.
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

  • Looking at the Return On Assets, with a value of 5.43%, VNO belongs to the top of the industry, outperforming 94.21% of the companies in the same industry.
  • The Return On Equity of VNO (14.08%) is better than 94.21% of its industry peers.
  • VNO has a worse Return On Invested Capital (1.32%) than 76.86% 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 3.11%.
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

  • Looking at the Profit Margin, with a value of 46.56%, VNO belongs to the top of the industry, outperforming 95.87% of the companies in the same industry.
  • The Operating Margin of VNO (14.43%) is worse than 65.29% of its industry peers.
  • VNO's Operating Margin has improved in the last couple of years.
  • With a Gross Margin value of 49.19%, VNO is not doing good in the industry: 76.86% of the companies in the same industry are doing better.
  • In the last couple of years the Gross Margin of VNO has remained more or less at the same level.
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.
  • Compared to 1 year ago, VNO has about the same amount of shares outstanding.
  • The number of shares outstanding for VNO remains at a similar level compared to 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 0.26. This is a bad value and indicates that VNO is not financially healthy and even has some risk of bankruptcy.
  • VNO's Altman-Z score of 0.26 is on the low side compared to the rest of the industry. VNO is outperformed by 61.16% 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's Debt to FCF ratio of 13.09 is amongst the best of the industry. VNO outperforms 86.78% of its industry peers.
  • VNO has a Debt/Equity ratio of 1.20. This is a high value indicating a heavy dependency on external financing.
  • With a Debt to Equity ratio value of 1.20, VNO perfoms like the industry average, outperforming 54.55% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.2
Debt/FCF 13.09
Altman-Z 0.26
ROIC/WACC0.22
WACC6.03%
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

  • A Current Ratio of 1.55 indicates that VNO should not have too much problems paying its short term obligations.
  • With a decent Current ratio value of 1.55, VNO is doing good in the industry, outperforming 75.21% of the companies in the same industry.
  • A Quick Ratio of 1.55 indicates that VNO should not have too much problems paying its short term obligations.
  • The Quick ratio of VNO (1.55) is better than 76.03% 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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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

  • VNO is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -32.07% yearly.
  • VNO is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.85% 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 5Y2.85%

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 decreasing.
  • 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 7.00, which indicates a rather cheap valuation of VNO.
  • Based on the Price/Earnings ratio, VNO is valued cheaper than 98.35% of the companies in the same industry.
  • VNO is valuated cheaply when we compare the Price/Earnings ratio to 26.54, 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
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

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as VNO.
  • Based on the Price/Free Cash Flow ratio, VNO is valued cheaper than 91.74% of the companies in the same industry.
Industry RankSector Rank
P/FCF 10.08
EV/EBITDA 16.24
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

  • With a Yearly Dividend Yield of 2.56%, VNO has a reasonable but not impressive dividend return.
  • With a Dividend Yield of 2.56, VNO pays less dividend than the industry average, which is at 7.43. 81.82% of the companies listed in the same industry pay a better dividend than VNO!
  • Compared to an average S&P500 Dividend Yield of 1.82, VNO pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.56%

5.2 History

  • The dividend of VNO decreases each year by -25.57%.
  • VNO has been paying a dividend for at least 10 years, so it has 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

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VNO Fundamentals: All Metrics, Ratios and Statistics

VORNADO REALTY TRUST

NYSE:VNO (4/29/2026, 8:04:00 PM)

After market: 29.35 0 (0%)

29.35

-0.95 (-3.14%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Industry Strength18.63
Industry Growth40.99
Earnings (Last)02-09
Earnings (Next)05-04
Inst Owners94.06%
Inst Owner Change0.17%
Ins Owners6.69%
Ins Owner Change4.27%
Market Cap5.53B
Revenue(TTM)1.81B
Net Income(TTM)842.85M
Analysts66.67
Price Target33.32 (13.53%)
Short Float %5.67%
Short Ratio4.5
Dividend
Industry RankSector Rank
Dividend Yield 2.56%
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)-241.67%
EPS NY rev (1m)-25%
EPS NY rev (3m)-150%
Revenue NQ rev (1m)-1.31%
Revenue NQ rev (3m)-5.06%
Revenue NY rev (1m)3.16%
Revenue NY rev (3m)2.65%
Valuation
Industry RankSector Rank
PE 7
Fwd PE N/A
P/S 3.06
P/FCF 10.08
P/OCF 4.4
P/B 0.92
P/tB 0.94
EV/EBITDA 16.24
EPS(TTM)4.19
EY14.28%
EPS(NY)-0.05
Fwd EYN/A
FCF(TTM)2.91
FCFY9.92%
OCF(TTM)6.67
OCFY22.74%
SpS9.6
BVpS31.75
TBVpS31.16
PEG (NY)N/A
PEG (5Y)N/A
Graham Number54.7116 (86.41%)
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 0.26
F-Score9
WACC6.03%
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 5Y2.85%
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 and the Price/Book (PB) ratio is 0.92.


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%.