Vornado Realty (VNO) AI Stock Analysis

• Market Cap: $8.77B
• Dividend Yield: 1.72%
• Average Volume (3M): 1.80M
• Price to Earnings (P/E): 10.4
• Beta (1Y): 1.39
• Revenue Growth: 1.38%
• EPS Growth: 4370.96%
• Country: US
• Employees: 2,996
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Office
• EPS (TTM): 3.70
• Shares Outstanding: 192,040,530
• 10 Day Avg. Volume: 1,929,694
• 30 Day Avg. Volume: 1,802,567
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.85
• Enterprise Value/Revenue: 9.01
• Enterprise Value/Gross Profit: 16.36
• Enterprise Value/Ebitda: 9.19
• 1Y Price Target: $40.50
• Price Target Upside: -5.75% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 12

• Rating: 65 Neutral
• Price Target: $41.00 ▼(-4.58% Downside)

Vornado Realty's overall stock score reflects a balance of positive earnings call insights and attractive valuation against mixed financial performance and neutral technical indicators. The strong leasing activity and improved financial position highlighted in the earnings call are significant positives, while the financial challenges and high leverage present risks.

Positive Factors

Leasing Activity

Strong leasing activity, especially large deals like NYU's lease, indicates robust demand for Vornado's properties, supporting long-term revenue stability.

Financial Position

Improved financial metrics and strong liquidity position enhance Vornado's ability to invest in growth opportunities and manage debt sustainably.

Strategic Acquisition

Acquiring a prime property in a high-demand area like Fifth Avenue strengthens Vornado's portfolio, potentially boosting long-term rental income and asset value.

Negative Factors

Revenue Decline

A decline in revenue growth can signal challenges in maintaining market share or pricing power, potentially impacting long-term profitability.

Cash Flow Challenges

Reduced cash flow growth may limit Vornado's ability to fund operations and investments, affecting its financial flexibility and growth prospects.

High Leverage

High leverage can increase financial risk, particularly in downturns, potentially affecting Vornado's ability to meet obligations and invest in growth.

Vornado Realty Business Overview & Revenue Model

Company Description

Vornado Realty Trust (VNO) is a publicly traded real estate investment trust (REIT) based in the United States, primarily focused on owning, managing, and developing commercial real estate properties. The company operates mainly in the office, retail, and logistics sectors, with a significant portfolio concentrated in key metropolitan markets, particularly New York City and Washington, D.C. Vornado's core services include property leasing, asset management, and development, catering to a diverse range of tenants, including major corporations and retail brands.

How the Company Makes Money

Vornado Realty Trust generates revenue primarily through rental income from its properties, which includes office buildings, retail spaces, and logistics facilities. The company leases space to tenants under long-term leases, providing a steady stream of income. Additional revenue streams include property management fees, development fees from new projects, and ancillary income from services provided to tenants. Vornado also engages in joint ventures and partnerships, allowing for shared investment in larger projects, which can enhance profitability. The company's strategic focus on high-demand urban areas and its ability to attract and retain tenants in its properties are critical factors contributing to its earnings.

Vornado Realty Financial Statement Overview

Summary

Vornado Realty's financial performance is mixed. While profitability and return on equity have improved, the company faces challenges with declining revenue and cash flow growth. High leverage remains a concern, though it has slightly decreased.

Income Statement

Vornado Realty's income statement shows mixed results. The TTM data indicates a strong net profit margin of 48.49%, a significant improvement from previous periods, suggesting enhanced profitability. However, the revenue growth rate is negative, indicating a decline in revenue over the past year. The gross profit margin is stable at 55.10%, but the EBIT margin has fluctuated significantly, reflecting volatility in operational efficiency.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio of 1.28 in the TTM, which is an improvement from previous years but still indicates significant leverage. The return on equity has improved to 16.02%, showing better returns for shareholders. The equity ratio stands at 39.02%, suggesting a moderate level of financial stability.

Cash Flow

Cash flow analysis shows a decline in free cash flow growth by 44.19% in the TTM, indicating potential cash flow challenges. The operating cash flow to net income ratio is 0.34, which is relatively low, suggesting that not all net income is translating into cash flow. However, the free cash flow to net income ratio is 1.0, indicating that the company is generating sufficient free cash flow relative to its net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.80B	1.79B	1.81B	1.80B	1.59B	1.53B
Gross Profit	994.07M	859.89M	906.00M	926.08M	791.89M	738.88M
EBITDA	1.77B	880.61M	845.61M	423.31M	792.48M	228.26M
Net Income	874.82M	70.39M	105.49M	-382.61M	176.00M	-461.85M
Balance Sheet
Total Assets	15.61B	16.00B	16.19B	16.49B	17.27B	16.22B
Cash, Cash Equivalents and Short-Term Investments	1.20B	733.95M	997.00M	1.36B	1.76B	1.62B
Total Debt	7.81B	8.99B	8.98B	9.13B	8.99B	7.80B
Total Liabilities	8.59B	9.83B	9.84B	9.98B	10.06B	8.67B
Stockholders Equity	6.09B	5.16B	5.51B	5.84B	6.24B	6.53B
Cash Flow
Free Cash Flow	311.56M	537.72M	648.15M	795.94M	758.81M	29.19M
Operating Cash Flow	311.56M	537.72M	648.15M	798.94M	761.81M	424.24M
Investing Cash Flow	-290.26M	-597.37M	-128.79M	-906.86M	-532.35M	-87.80M
Financing Cash Flow	-1.38B	-252.32M	-278.94M	-801.27M	-29.48M	-213.20M

Vornado Realty Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 42.97
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VNO, the sentiment is Positive. The current price of 42.97 is above the 20-day moving average (MA) of 38.73, above the 50-day MA of 38.45, and above the 200-day MA of 39.22, indicating a bullish trend. The MACD of 1.03 indicates Negative momentum. The RSI at 69.29 is Neutral, neither overbought nor oversold. The STOCH value of 90.78 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for VNO.

Vornado Realty Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CUZ	75 Outperform	$4.97B	80.20	1.30%	4.35%	13.07%	-4.94%
KRC	69 Neutral	$5.13B	23.31	4.06%	5.00%	2.26%	10.15%
HIW	68 Neutral	$3.50B	27.66	5.39%	6.17%	-2.16%	-16.41%
Sector *	65 Neutral	$2.16B	12.08	3.79%	4.85%	3.15%	1.96%
VNO	65 Neutral	$8.77B	10.40	14.93%	1.72%	1.38%	4370.96%
BXP	62 Neutral	$13.27B	3,850.00	0.07%	5.08%	3.24%	-97.73%
SLG	61 Neutral	$4.81B	663.10	-0.37%	4.67%	15.25%	79.18%

Vornado Realty Corporate Events

Vornado Realty Holds Annual Shareholder Meeting

On May 22, 2025, Vornado Realty Trust held its annual meeting of shareholders, where approximately 94% of the shares were represented. During the meeting, three key proposals were voted on: the election of ten nominees to the Board of Trustees, the ratification of Deloitte & Touche LLP as the independent public accounting firm for 2025, and a non-binding advisory resolution on executive compensation. The outcomes of these votes are expected to influence the company’s governance and operational decisions in the coming year.

The most recent analyst rating on (VNO) stock is a Sell with a $35.00 price target. To see the full list of analyst forecasts on Vornado Realty stock, see the VNO Stock Forecast page.