VORNADO REALTY TRUST (VNO) Stock Fundamental Analysis
USA - NYSE:VNO - US9290421091 - REIT
37.97 USD
-1.53 (-3.87%)
37.97 USD
0 (0%)
Taking everything into account, VNO scores 5 out of 10 in our fundamental rating. VNO was compared to 130 industry peers in the Diversified REITs industry. VNO has an average financial health and profitability rating. VNO has a correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
VNO had positive earnings in the past year.
VNO had a positive operating cash flow in the past year.
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's Return On Assets of 5.21% is amongst the best of the industry. VNO outperforms 96.15% of its industry peers.
VNO has a Return On Equity of 13.34%. This is amongst the best in the industry. VNO outperforms 93.85% of its industry peers.
Looking at the Return On Invested Capital, with a value of 1.45%, VNO is doing worse than 77.69% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for VNO is in line with the industry average of 3.02%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.21% | ||
| ROE | 13.34% | ||
| ROIC | 1.45% |
ROA(3y)-0.72%
ROA(5y)-0.74%
ROE(3y)-2.02%
ROE(5y)-1.95%
ROIC(3y)1.48%
ROIC(5y)1.27%
1.3 Margins
VNO has a better Profit Margin (45.05%) than 95.38% of its industry peers.
In the last couple of years the Profit Margin of VNO has declined.
VNO has a Operating Margin of 14.83%. This is in the lower half of the industry: VNO underperforms 65.38% of its industry peers.
VNO's Operating Margin has declined in the last couple of years.
VNO's Gross Margin of 49.21% is on the low side compared to the rest of the industry. VNO is outperformed by 79.23% of its industry peers.
VNO's Gross Margin has declined in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 14.83% | ||
| PM (TTM) | 45.05% | ||
| GM | 49.21% |
OM growth 3Y-1.7%
OM growth 5Y-7.8%
PM growth 3Y-58.25%
PM growth 5Y-68.97%
GM growth 3Y-1.17%
GM growth 5Y-1.66%
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.
Compared to 1 year ago, VNO has more shares outstanding
VNO has about the same amout of shares outstanding than it did 5 years ago.
Compared to 1 year ago, VNO has a worse debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 0.42, we must say that VNO is in the distress zone and has some risk of bankruptcy.
VNO has a Altman-Z score of 0.42. This is comparable to the rest of the industry: VNO outperforms 46.92% of its industry peers.
VNO has a debt to FCF ratio of 7.73. This is a slightly negative value and a sign of low solvency as VNO would need 7.73 years to pay back of all of its debts.
VNO has a better Debt to FCF ratio (7.73) than 94.62% of its industry peers.
VNO has a Debt/Equity ratio of 1.16. This is a high value indicating a heavy dependency on external financing.
VNO's Debt to Equity ratio of 1.16 is in line compared to the rest of the industry. VNO outperforms 53.85% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.16 | ||
| Debt/FCF | 7.73 | ||
| Altman-Z | 0.42 |
ROIC/WACC0.23
WACC6.18%
2.3 Liquidity
VNO has a Current Ratio of 1.88. This is a normal value and indicates that VNO is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 1.88, VNO is in the better half of the industry, outperforming 76.92% of the companies in the same industry.
A Quick Ratio of 1.88 indicates that VNO should not have too much problems paying its short term obligations.
VNO's Quick ratio of 1.88 is fine compared to the rest of the industry. VNO outperforms 76.92% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.88 | ||
| Quick Ratio | 1.88 |
3. Growth
3.1 Past
VNO shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 1583.33%, which is quite impressive.
The earnings per share for VNO have been decreasing by -57.97% on average. This is quite bad
The Revenue has been growing slightly by 1.38% in the past year.
The Revenue has been decreasing by -1.47% on average over the past years.
EPS 1Y (TTM)1583.33%
EPS 3Y-58.75%
EPS 5Y-57.97%
EPS Q2Q%1955.56%
Revenue 1Y (TTM)1.38%
Revenue growth 3Y4%
Revenue growth 5Y-1.47%
Sales Q2Q%-1.96%
3.2 Future
VNO is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 68.63% yearly.
The Revenue is expected to grow by 3.95% on average over the next years.
EPS Next Y3435%
EPS Next 2Y-52.86%
EPS Next 3Y67.16%
EPS Next 5Y68.63%
Revenue Next Year0.73%
Revenue Next 2Y1.83%
Revenue Next 3Y3.1%
Revenue Next 5Y3.95%
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.
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.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 9.40 indicates a reasonable valuation of VNO.
Compared to the rest of the industry, the Price/Earnings ratio of VNO indicates a rather cheap valuation: VNO is cheaper than 96.92% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of VNO to the average of the S&P500 Index (27.02), we can say VNO is valued rather cheaply.
The Forward Price/Earnings Ratio is negative for VNO. No positive earnings are expected for the next year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.4 | ||
| Fwd PE | N/A |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, VNO is valued expensively inside the industry as 80.00% of the companies are valued cheaper.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of VNO indicates a rather cheap valuation: VNO is cheaper than 95.38% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 7.94 | ||
| EV/EBITDA | 18 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as VNO's earnings are expected to grow with 67.16% in the coming years.
PEG (NY)0
PEG (5Y)N/A
EPS Next 2Y-52.86%
EPS Next 3Y67.16%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 7.16%, VNO is a good candidate for dividend investing.
VNO's Dividend Yield is a higher than the industry average which is at 6.68.
VNO's Dividend Yield is rather good when compared to the S&P500 average which is at 2.44.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.16% |
5.2 History
The dividend of VNO decreases each year by -18.14%.
VNO has paid a dividend for at least 10 years, which is a reliable track record.
VNO has decreased its dividend recently.
Dividend Growth(5Y)-18.14%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
25.00% of the earnings are spent on dividend by VNO. This is a low number and sustainable payout ratio.
DP25%
EPS Next 2Y-52.86%
EPS Next 3Y67.16%
37.97
-1.53 (-3.87%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners97.51%
Inst Owner Change0%
Ins Owners6.48%
Ins Owner Change0%
Market Cap7.29B
Analysts53.33
Price Target40.21 (5.9%)
Short Float %5.04%
Short Ratio5.18
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.16% |
Yearly Dividend1.07
Dividend Growth(5Y)-18.14%
DP25%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)2129.51%
Min EPS beat(2)132.23%
Max EPS beat(2)4126.8%
EPS beat(4)4
Avg EPS beat(4)1094.95%
Min EPS beat(4)0.99%
Max EPS beat(4)4126.8%
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)-1.83%
Min Revenue beat(2)-4.75%
Max Revenue beat(2)1.08%
Revenue beat(4)2
Avg Revenue beat(4)-1.1%
Min Revenue beat(4)-4.75%
Max Revenue beat(4)1.3%
Revenue beat(8)3
Avg Revenue beat(8)-1.46%
Revenue beat(12)6
Avg Revenue beat(12)23.6%
Revenue beat(16)9
Avg Revenue beat(16)24.62%
PT rev (1m)0.85%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-136.36%
EPS NY rev (1m)40.7%
EPS NY rev (3m)261.29%
Revenue NQ rev (1m)-1.78%
Revenue NQ rev (3m)-6.24%
Revenue NY rev (1m)-1.1%
Revenue NY rev (3m)-2.54%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.4 | ||
| Fwd PE | N/A | ||
| P/S | 4.04 | ||
| P/FCF | 7.94 | ||
| P/OCF | 5.24 | ||
| P/B | 1.2 | ||
| P/tB | 1.22 | ||
| EV/EBITDA | 18 |
EPS(TTM)4.04
EY10.64%
EPS(NY)-0.01
Fwd EYN/A
FCF(TTM)4.78
FCFY12.59%
OCF(TTM)7.24
OCFY19.07%
SpS9.39
BVpS31.72
TBVpS31.13
PEG (NY)0
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.21% | ||
| ROE | 13.34% | ||
| ROCE | 1.84% | ||
| ROIC | 1.45% | ||
| ROICexc | 1.58% | ||
| ROICexgc | 1.63% | ||
| OM | 14.83% | ||
| PM (TTM) | 45.05% | ||
| GM | 49.21% | ||
| FCFM | 50.9% |
ROA(3y)-0.72%
ROA(5y)-0.74%
ROE(3y)-2.02%
ROE(5y)-1.95%
ROIC(3y)1.48%
ROIC(5y)1.27%
ROICexc(3y)1.57%
ROICexc(5y)1.37%
ROICexgc(3y)1.63%
ROICexgc(5y)1.42%
ROCE(3y)1.87%
ROCE(5y)1.61%
ROICexcg growth 3Y2.74%
ROICexcg growth 5Y-7.36%
ROICexc growth 3Y3.14%
ROICexc growth 5Y-7.55%
OM growth 3Y-1.7%
OM growth 5Y-7.8%
PM growth 3Y-58.25%
PM growth 5Y-68.97%
GM growth 3Y-1.17%
GM growth 5Y-1.66%
F-Score8
Asset Turnover0.12
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.16 | ||
| Debt/FCF | 7.73 | ||
| Debt/EBITDA | 9.48 | ||
| Cap/Depr | 98.16% | ||
| Cap/Sales | 26.18% | ||
| Interest Coverage | 0.79 | ||
| Cash Conversion | 185.73% | ||
| Profit Quality | 112.98% | ||
| Current Ratio | 1.88 | ||
| Quick Ratio | 1.88 | ||
| Altman-Z | 0.42 |
F-Score8
WACC6.18%
ROIC/WACC0.23
Cap/Depr(3y)148.23%
Cap/Depr(5y)165.12%
Cap/Sales(3y)40.05%
Cap/Sales(5y)44.81%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)1583.33%
EPS 3Y-58.75%
EPS 5Y-57.97%
EPS Q2Q%1955.56%
EPS Next Y3435%
EPS Next 2Y-52.86%
EPS Next 3Y67.16%
EPS Next 5Y68.63%
Revenue 1Y (TTM)1.38%
Revenue growth 3Y4%
Revenue growth 5Y-1.47%
Sales Q2Q%-1.96%
Revenue Next Year0.73%
Revenue Next 2Y1.83%
Revenue Next 3Y3.1%
Revenue Next 5Y3.95%
EBIT growth 1Y2.55%
EBIT growth 3Y2.23%
EBIT growth 5Y-9.15%
EBIT Next Year194.44%
EBIT Next 3Y41.43%
EBIT Next 5Y26.09%
FCF growth 1Y1108.96%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y87.13%
OCF growth 3Y-10.96%
OCF growth 5Y-4.09%