VORNADO REALTY TRUST (VNO) Stock Fundamental Analysis

USA • New York Stock Exchange • NYSE:VNO • US9290421091

31.27 USD
+0.81 (+2.66%)
At close: Feb 6, 2026
31.26 USD
-0.01 (-0.03%)
After Hours: 2/6/2026, 8:10:42 PM
Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to VNO. VNO was compared to 124 industry peers in the Diversified REITs industry. Both the profitability and the financial health of VNO get a neutral evaluation. Nothing too spectacular is happening here. VNO is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

4

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.
  • The reported net income has been mixed in the past 5 years: VNO reported negative net income in multiple years.
  • Each year in the past 5 years VNO had a positive operating cash flow.
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 0 1B 2B 3B

1.2 Ratios

  • VNO has a Return On Assets of 5.36%. This is amongst the best in the industry. VNO outperforms 95.97% of its industry peers.
  • VNO's Return On Equity of 13.90% is amongst the best of the industry. VNO outperforms 91.94% of its industry peers.
  • VNO has a Return On Invested Capital of 1.44%. This is in the lower half of the industry: VNO underperforms 76.61% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for VNO is in line with the industry average of 3.05%.
Industry RankSector Rank
ROA 5.36%
ROE 13.9%
ROIC 1.44%
ROA(3y)-0.72%
ROA(5y)-0.74%
ROE(3y)-2.02%
ROE(5y)-1.95%
ROIC(3y)1.48%
ROIC(5y)1.27%
VNO Yearly ROA, ROE, ROICVNO Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 20 30 40

1.3 Margins

  • VNO's Profit Margin of 46.48% is amongst the best of the industry. VNO outperforms 96.77% of its industry peers.
  • VNO's Profit Margin has declined in the last couple of years.
  • With a Operating Margin value of 14.75%, VNO is not doing good in the industry: 65.32% of the companies in the same industry are doing better.
  • VNO's Operating Margin has declined in the last couple of years.
  • Looking at the Gross Margin, with a value of 49.19%, VNO is doing worse than 75.81% of the companies in the same industry.
  • VNO's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 14.75%
PM (TTM) 46.48%
GM 49.19%
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%
VNO Yearly Profit, Operating, Gross MarginsVNO Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 100 150

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ROAROEROICOperating and Profit MarginShow most profitable peers

4

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), VNO 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.
  • VNO has a worse debt/assets ratio than last year.
VNO Yearly Shares OutstandingVNO Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 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 5B 10B 15B 20B

2.2 Solvency

  • VNO has an Altman-Z score of 0.30. This is a bad value and indicates that VNO is not financially healthy and even has some risk of bankruptcy.
  • The Altman-Z score of VNO (0.30) is worse than 63.71% of its industry peers.
  • The Debt to FCF ratio of VNO is 11.23, which is on the high side as it means it would take VNO, 11.23 years of fcf income to pay off all of its debts.
  • With an excellent Debt to FCF ratio value of 11.23, VNO belongs to the best of the industry, outperforming 89.52% of the companies in the same industry.
  • A Debt/Equity ratio of 1.18 is on the high side and indicates that VNO has dependencies on debt financing.
  • With a Debt to Equity ratio value of 1.18, VNO perfoms like the industry average, outperforming 55.65% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.18
Debt/FCF 11.23
Altman-Z 0.3
ROIC/WACC0.24
WACC6.12%
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 0 2B 4B 6B 8B 10B

2.3 Liquidity

  • A Current Ratio of 1.67 indicates that VNO should not have too much problems paying its short term obligations.
  • The Current ratio of VNO (1.67) is better than 79.03% of its industry peers.
  • A Quick Ratio of 1.67 indicates that VNO should not have too much problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 1.67, VNO is in the better half of the industry, outperforming 79.03% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.67
Quick Ratio 1.67
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 500M 1B 1.5B 2B 2.5B

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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

  • VNO shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 5900.00%, which is quite impressive.
  • VNO shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -57.97% yearly.
  • VNO shows a small growth in Revenue. In the last year, the Revenue has grown by 2.41%.
  • Measured over the past years, VNO shows a decrease in Revenue. The Revenue has been decreasing by -1.47% on average per year.
EPS 1Y (TTM)5900%
EPS 3Y-58.75%
EPS 5Y-57.97%
EPS Q2Q%160%
Revenue 1Y (TTM)2.41%
Revenue growth 3Y4%
Revenue growth 5Y-1.47%
Sales Q2Q%2.36%

3.2 Future

  • Based on estimates for the next years, VNO will show a very strong growth in Earnings Per Share. The EPS will grow by 68.63% on average per year.
  • Based on estimates for the next years, VNO will show a small growth in Revenue. The Revenue will grow by 2.98% on average per year.
EPS Next Y10606%
EPS Next 2Y-58.27%
EPS Next 3Y8.08%
EPS Next 5Y68.63%
Revenue Next Year-0.56%
Revenue Next 2Y0.64%
Revenue Next 3Y1.79%
Revenue Next 5Y2.98%

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.
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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Find the best growth stocksShow best growing peers

5

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 7.45, which indicates a rather cheap valuation of VNO.
  • VNO's Price/Earnings ratio is rather cheap when compared to the industry. VNO is cheaper than 95.97% of the companies in the same industry.
  • When comparing the Price/Earnings ratio of VNO to the average of the S&P500 Index (27.92), we can say VNO is valued rather cheaply.
  • VNO is expected to report negative earnings next year, which makes the Forward Price/Earnings Ratio negative.
Industry RankSector Rank
PE 7.45
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 -500 -1K -1.5K

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of VNO is on the same level as its industry peers.
  • Based on the Price/Free Cash Flow ratio, VNO is valued cheaper than 93.55% of the companies in the same industry.
Industry RankSector Rank
P/FCF 9.38
EV/EBITDA 16.05
VNO Per share dataVNO EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30

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.
PEG (NY)0
PEG (5Y)N/A
EPS Next 2Y-58.27%
EPS Next 3Y8.08%

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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 7.45%, VNO is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 6.96, VNO pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.83, VNO pays a better dividend.
Industry RankSector Rank
Dividend Yield 7.45%

5.2 History

  • The dividend of VNO decreases each year by -18.14%.
  • VNO has been paying a dividend for at least 10 years, so it has a reliable track record.
  • The dividend of VNO decreased recently.
Dividend Growth(5Y)-18.14%
Div Incr Years1
Div Non Decr Years1
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

  • 24.09% of the earnings are spent on dividend by VNO. This is a low number and sustainable payout ratio.
DP24.09%
EPS Next 2Y-58.27%
EPS Next 3Y8.08%
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 0 1B 2B 3B
VNO Dividend Payout.VNO Dividend Payout, showing the Payout Ratio.VNO Dividend Payout.PayoutRetained Earnings

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VORNADO REALTY TRUST

NYSE:VNO (2/6/2026, 8:10:42 PM)

After market: 31.26 -0.01 (-0.03%)

31.27

+0.81 (+2.66%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)11-03
Earnings (Next)02-09
Inst Owners95.67%
Inst Owner Change-10.46%
Ins Owners6.48%
Ins Owner Change-0.43%
Market Cap6.01B
Revenue(TTM)1.81B
Net Income(TTM)843.45M
Analysts66.32
Price Target39.78 (27.21%)
Short Float %4.81%
Short Ratio6.19
Dividend
Industry RankSector Rank
Dividend Yield 7.45%
Yearly Dividend1.07
Dividend Growth(5Y)-18.14%
DP24.09%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)2187.66%
Min EPS beat(2)248.52%
Max EPS beat(2)4126.8%
EPS beat(4)4
Avg EPS beat(4)1156.84%
Min EPS beat(4)119.8%
Max EPS beat(4)4126.8%
EPS beat(8)8
Avg EPS beat(8)646.48%
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)-0.86%
Min Revenue beat(2)-4.75%
Max Revenue beat(2)3.03%
Revenue beat(4)3
Avg Revenue beat(4)0.16%
Min Revenue beat(4)-4.75%
Max Revenue beat(4)3.03%
Revenue beat(8)4
Avg Revenue beat(8)-0.95%
Revenue beat(12)6
Avg Revenue beat(12)23.83%
Revenue beat(16)9
Avg Revenue beat(16)24.41%
PT rev (1m)0%
PT rev (3m)-3.53%
EPS NQ rev (1m)150%
EPS NQ rev (3m)242.86%
EPS NY rev (1m)0.71%
EPS NY rev (3m)202.86%
Revenue NQ rev (1m)0.15%
Revenue NQ rev (3m)1.31%
Revenue NY rev (1m)-0.28%
Revenue NY rev (3m)-1.27%
Valuation
Industry RankSector Rank
PE 7.45
Fwd PE N/A
P/S 3.31
P/FCF 9.38
P/OCF 4.56
P/B 0.99
P/tB 1.01
EV/EBITDA 16.05
EPS(TTM)4.2
EY13.43%
EPS(NY)-0.02
Fwd EYN/A
FCF(TTM)3.33
FCFY10.66%
OCF(TTM)6.86
OCFY21.95%
SpS9.45
BVpS31.58
TBVpS31
PEG (NY)0
PEG (5Y)N/A
Graham Number54.63
Profitability
Industry RankSector Rank
ROA 5.36%
ROE 13.9%
ROCE 1.83%
ROIC 1.44%
ROICexc 1.55%
ROICexgc 1.61%
OM 14.75%
PM (TTM) 46.48%
GM 49.19%
FCFM 35.27%
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%
ROICexgc growth 3Y2.74%
ROICexgc 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 RankSector Rank
Debt/Equity 1.18
Debt/FCF 11.23
Debt/EBITDA 9.59
Cap/Depr 140.83%
Cap/Sales 37.38%
Interest Coverage 0.84
Cash Conversion 175.93%
Profit Quality 75.87%
Current Ratio 1.67
Quick Ratio 1.67
Altman-Z 0.3
F-Score8
WACC6.12%
ROIC/WACC0.24
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)5900%
EPS 3Y-58.75%
EPS 5Y-57.97%
EPS Q2Q%160%
EPS Next Y10606%
EPS Next 2Y-58.27%
EPS Next 3Y8.08%
EPS Next 5Y68.63%
Revenue 1Y (TTM)2.41%
Revenue growth 3Y4%
Revenue growth 5Y-1.47%
Sales Q2Q%2.36%
Revenue Next Year-0.56%
Revenue Next 2Y0.64%
Revenue Next 3Y1.79%
Revenue Next 5Y2.98%
EBIT growth 1Y10.68%
EBIT growth 3Y2.23%
EBIT growth 5Y-9.15%
EBIT Next Year177.6%
EBIT Next 3Y34.69%
EBIT Next 5Y26.08%
FCF growth 1Y486.77%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y95.02%
OCF growth 3Y-10.96%
OCF growth 5Y-4.09%

VORNADO REALTY TRUST / VNO FAQ

What is the ChartMill fundamental rating of VORNADO REALTY TRUST (VNO) stock?

ChartMill assigns a fundamental rating of 5 / 10 to VNO.


What is the valuation status for VNO stock?

ChartMill assigns a valuation rating of 5 / 10 to VORNADO REALTY TRUST (VNO). This can be considered as Fairly Valued.


Can you provide the profitability details for VORNADO REALTY TRUST?

VORNADO REALTY TRUST (VNO) has a profitability rating of 4 / 10.


What are the PE and PB ratios of VORNADO REALTY TRUST (VNO) stock?

The Price/Earnings (PE) ratio for VORNADO REALTY TRUST (VNO) is 7.45 and the Price/Book (PB) ratio is 0.99.


What is the earnings growth outlook for VORNADO REALTY TRUST?

The Earnings per Share (EPS) of VORNADO REALTY TRUST (VNO) is expected to grow by 10606% in the next year.