Vonovia (VNA) AI Stock Analysis

• Market Cap: €23.60B
• Dividend Yield: 4.35%
• Average Volume (3M): 2.14M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.52
• Revenue Growth: 23.19%
• EPS Growth: 82.41%
• Country: DE
• Employees: 12,306
• Sector: Real Estate
• Sector Strength: 56
• Industry: Real Estate - Services
• EPS (TTM): 0.59
• Shares Outstanding: 835,621,460
• 10 Day Avg. Volume: 1,744,161
• 30 Day Avg. Volume: 2,139,223
• PEG Ratio: -1.67
• Price to Book (P/B): 0.97
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 10.52
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: €35.01
• Price Target Upside: 24.72% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 13

• Rating: 46 Neutral
• Price Target: €28.00 ▼(-0.25%Downside)

Vonovia's stock score is primarily impacted by financial performance challenges, including negative net income and high leverage. Technical indicators reinforce bearish sentiment, and valuation metrics suggest overvaluation despite a high dividend yield. The absence of recent earnings call or corporate events data limits further insights.

Positive Factors

Financial Performance

The company has improved its loan/value ratio and net debt/EBITDA, indicating better financial health.

Leadership Change

The company will see a leadership change with the appointment of Luka Mucic as CEO.

Operational Performance

The low vacancy rates and high rent collection rate indicate strong operational performance.

Negative Factors

Earnings Decline

Higher financing costs and increased payouts to minorities have led to a 7% decline in EBT per share year on year.

Interest Rates

Vonovia's shares have been the epitome of interest rate driven volatility, with nearly all gyrations being a function of bond market expectations.

Refinancing Costs

Vonovia is still hamstrung by rising refinancing rates and an LTV that is still too elevated.

Vonovia Business Overview & Revenue Model

Company Description

Vonovia SE is a leading European residential real estate company based in Germany. Specializing in the acquisition, management, and development of residential properties, Vonovia primarily operates in Germany, Austria, and Sweden. The company focuses on providing quality housing solutions and improving living standards through modernization and maintenance of its real estate portfolio. Vonovia aims to offer sustainable living environments while responding to demographic and urbanization trends.

How the Company Makes Money

Vonovia generates revenue primarily through rental income from its extensive portfolio of residential properties. The company owns and manages a large number of rental units, and it earns money by leasing these properties to tenants. Additionally, Vonovia increases its earnings by implementing modernization and maintenance projects, which can lead to higher rental prices and occupancy rates. Another revenue stream is the company's value-added services, which include energy supply, multimedia services, and craftsmen services for property upgrades and repairs. Strategic acquisitions and partnerships also play a role in expanding its portfolio and enhancing revenue potential.

Vonovia Financial Statement Overview

Summary

Vonovia shows strong revenue growth and cash flow generation, but struggles with profitability due to negative net income and variable EBIT margins. The balance sheet is robust with a strong equity base, although high leverage is a concern.

Income Statement

Vonovia's revenue has shown a steady growth trajectory with a recent increase in TTM. However, the company is facing negative net income, significantly impacting net profit margins. Gross profit margin is stable, but the negative EBIT and EBITDA margins in previous periods raise concerns about operational efficiency.

Balance Sheet

The company's balance sheet shows a strong equity base with an improving equity ratio. However, the high level of debt relative to equity poses a risk, although recent periods show a reduction in total debt. The return on equity is negatively impacted by consecutive net losses.

Cash Flow

The cash flow statement reflects solid operating cash flow with positive free cash flow. The free cash flow to net income ratio is favorable, indicating efficient cash generation despite net losses. However, the potential for growth in free cash flow is limited by negative net income and capital expenditures.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	6.25B	5.94B	5.23B	5.15B	3.62B	3.15B
Gross Profit	2.65B	2.25B	2.46B	2.86B	2.23B	2.08B
EBITDA	2.21B	408.00M	2.17B	1.26B	1.98B	5.56B
Net Income	-710.80M	-896.00M	-6.29B	-669.40M	2.68B	3.27B
Balance Sheet
Total Assets	64.12B	90.24B	92.00B	101.39B	106.32B	62.42B
Cash, Cash Equivalents and Short-Term Investments	2.17B	2.02B	1.37B	1.20B	1.32B	453.40M
Total Debt	662.80M	43.21B	43.57B	45.69B	47.69B	24.63B
Total Liabilities	39.11B	62.11B	62.05B	66.95B	69.78B	37.59B
Stockholders Equity	24.33B	24.00B	25.68B	31.33B	33.29B	24.15B
Cash Flow
Free Cash Flow	2.29B	2.40B	1.90B	1.86B	1.47B	1.16B
Operating Cash Flow	2.37B	2.40B	1.90B	2.08B	1.82B	1.43B
Investing Cash Flow	97.10M	-187.60M	-825.90M	938.20M	-19.12B	-1.73B
Financing Cash Flow	-1.80B	-1.82B	-961.00M	-3.15B	18.13B	402.60M

Vonovia Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 28.07
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:VNA, the sentiment is Neutral. The current price of 28.07 is below the 20-day moving average (MA) of 29.32, below the 50-day MA of 28.80, and below the 200-day MA of 28.08, indicating a neutral trend. The MACD of -0.15 indicates Positive momentum. The RSI at 38.99 is Neutral, neither overbought nor oversold. The STOCH value of 7.86 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for DE:VNA.

Vonovia Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GYC	74 Outperform	€1.85B	8.38	6.27%	―	-1.22%	―
AT1	70 Outperform	€3.37B	14.94	2.91%	―	-3.28%	―
PAT	66 Neutral	€685.90M	51.48	1.19%	4.38%	-7.62%	―
Sector *	66 Neutral	£940.93M	13.91	2.04%	5.26%	11.04%	38.13%
LEG	64 Neutral	€5.42B	21.05	3.32%	3.76%	3.25%	―
O5G	55 Neutral	€7.34B	―	-3.87%	―	-6.54%	76.78%
VNA	46 Neutral	€23.60B	―	-2.91%	4.35%	23.19%	82.41%