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Vonovia SE Shs Unsponsored American Depositary Receipt Repr 1/2 Sh (VONOY)
:VONOY
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Vonovia SE Shs Unsponsored American Depositary Receipt Repr 1/2 Sh
(OTC:VONOY)
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Rating:61Neutral
Price Target:
$16.50
▲(3.90% Upside)
Vonovia SE's overall score is driven by mixed financial performance and technical indicators, with positive sentiment from the earnings call. High leverage and valuation concerns weigh on the score, but strong cash flow and increased guidance provide support.
Vonovia SE Shs Unsponsored American Depositary Receipt Repr 1/2 Sh (VONOY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$26.39B
Dividend Yield4.17%
Average Volume (3M)9.67K
Price to Earnings (P/E)63.0
Beta (1Y)0.49
Revenue Growth29.07%
EPS GrowthN/A
CountryUS
Employees12,306
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)0.21
Shares Outstanding1,681,495,800
10 Day Avg. Volume15,311
30 Day Avg. Volume9,672
Financial Highlights & Ratios
PEG Ratio0.31
Price to Book (P/B)0.99
Price to Sales (P/S)4.01
P/FCF Ratio9.92
Enterprise Value/Market Cap3.12
Enterprise Value/Revenue14.49
Enterprise Value/Gross Profit56.19
Enterprise Value/Ebitda38.32
Forecast
1Y Price Target
$16.50Price Target Upside3.90% Upside
Rating ConsensusHold
Number of Analyst Covering1
Vonovia SE Shs Unsponsored American Depositary Receipt Repr 1/2 Sh Business Overview & Revenue Model
Company DescriptionVonovia SE operates as an integrated residential real estate company in Europe. It operates through five segments: Rental, Value-Add, Recurring Sales, Development, and Deutsche Wohnen. The company offers property management services; apartments and property-related services; and value-added services, including maintenance and modernization of properties, craftsmen and residential environment organization, residential environment organization, condominium administration, cable TV, metering, energy supply, and insurances services. It also engages in the sale of individual condominiums and single-family houses; and project development activities. As of December 31, 2021, the company had 565,334 residential units; 168,015 garages and parking spaces; and 9,289 commercial units, as well as managed 71,173 residential units for other owners in Germany, Austria, and Sweden. The company was formerly known as Deutsche Annington Immobilien SE and changed its name to Vonovia SE in August 2015. Vonovia SE was founded in 1998 and is headquartered in Bochum, Germany.
How the Company Makes MoneyVonovia SE generates revenue primarily through rental income from its vast portfolio of residential properties. The company focuses on maintaining high occupancy rates and optimizing rental yields by providing quality housing and enhancing tenant satisfaction. Additionally, Vonovia invests in modernizing and upgrading its properties, which not only increases property value but can also justify higher rental rates. Beyond rental income, the company earns money through property sales, particularly when strategic opportunities arise to divest non-core assets or capitalize on market conditions. Vonovia also explores revenue streams from ancillary services such as energy supply and facility management, leveraging its scale to offer additional services to tenants. Partnerships with local municipalities and adherence to governmental housing policies play a significant role in shaping Vonovia's operations and revenue strategies.
Vonovia SE Shs Unsponsored American Depositary Receipt Repr 1/2 Sh Earnings Call Summary
Earnings Call Date:Aug 06, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 05, 2025
Earnings Call Sentiment Positive
The earnings call reflects a positive overall sentiment with strong financial performance, strategic growth in rent and EBITDA, successful integration of Deutsche Wohnen, and effective financing management. However, challenges such as higher financing expenses and the need to manage a large development land bank present areas for improvement.Q2-2025 Updates
Positive Updates
Strong H1 Performance
Vonovia reported a strong first half with a 1.3% like-for-like value growth of their standing portfolio and double-digit growth in EBITDA, EBITA, and operating free cash flow.
Organic Rent Growth
The Rental segment reported organic rent growth of 4.4% year-on-year, contributing to the company's strong performance.
Increased Guidance
Vonovia increased its 2025 guidance: organic rent growth greater than 4%, adjusted EBITDA range increased by EUR 100 million, and rental income expected at the upper end of the guided range.
Successful Financing Management
The company successfully managed its financing position with EUR 1.3 billion of convertibles at attractive cash coupons and a bond buyback with an aggregate volume of EUR 800 million.
Deutsche Wohnen Integration
The DPLTA process between Vonovia and Deutsche Wohnen has been completed, allowing full integration and potential leverage of the larger scale.
Negative Updates
Higher Financing Expenses
Despite growth, Vonovia experienced higher financing expenses impacting adjusted EBT, though it still delivered 11% growth.
Impairment on Development Projects
An impairment loss of EUR 340 million was recorded on project developments due to conservative valuation approaches and cost assumptions.
Challenges with Land Bank
The company has a large land bank which it considers too big, leading to the need for selective land sales to optimize capital deployment.
Company Guidance
During the Vonovia Interim Results H1 2025 Analyst and Investor Conference Call, several key metrics and guidance updates were provided. The company reported a like-for-like value growth of 1.3% in its standing portfolio for the first half of 2025. Organic rent growth was noted at 4.4% year-on-year, contributing to double-digit growth in EBITDA, EBITA, and operating free cash flow. Vonovia managed its financing position with EUR 1.3 billion in convertibles and an EUR 800 million bond buyback. The integration of Deutsche Wohnen was completed, allowing for potential efficiencies. Based on strong performance, Vonovia increased its 2025 guidance, expecting organic rent growth to surpass 4%, with rental income and adjusted EBITDA forecasted at the upper end of the guided range, and an adjusted EBITDA range increased by EUR 100 million.Vonovia SE Shs Unsponsored American Depositary Receipt Repr 1/2 Sh Financial Statement Overview
Summary
Vonovia SE shows mixed financial performance. Positive revenue growth and strong cash flow management are offset by operational challenges and high leverage. The company needs to focus on operational efficiency and debt reduction.Income Statement
Vonovia SE's income statement shows mixed performance. The TTM data indicates a recovery with a positive net profit margin of 6.02% and a significant revenue growth rate of 90.5%. However, the EBIT margin is negative, suggesting operational challenges. Historical data shows fluctuating profitability with a notable loss in 2023. The company needs to stabilize its operational efficiency to improve its financial health.65
Positive
Balance Sheet
The balance sheet reveals a high debt-to-equity ratio of 1.76 in the TTM period, indicating significant leverage. The return on equity is low at 1.56%, reflecting limited profitability relative to equity. The equity ratio is not provided, but the high leverage poses a risk. The company should focus on reducing debt to enhance financial stability.55
Neutral
Cash Flow
Cash flow analysis shows a positive trend with a free cash flow growth rate of 10.75% in the TTM period. The operating cash flow to net income ratio is 0.36, indicating decent cash generation relative to net income. The free cash flow to net income ratio is consistently 1.0, suggesting effective cash management. Continued focus on cash flow generation will support financial resilience.70
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.69B | 5.94B | 5.23B | 5.15B | 3.62B | 3.15B |
| Gross Profit | 1.47B | 2.25B | 2.47B | 2.86B | 2.23B | 2.08B |
| EBITDA | 2.15B | 408.00M | -7.90B | 1.26B | 9.81B | 5.51B |
| Net Income | 379.10M | -896.00M | -6.29B | -669.40M | 2.68B | 3.27B |
Balance Sheet | ||||||
| Total Assets | 90.14B | 90.24B | 92.00B | 101.39B | 105.91B | 62.42B |
| Cash, Cash Equivalents and Short-Term Investments | 2.18B | 2.02B | 1.59B | 1.20B | 1.32B | 453.40M |
| Total Debt | 42.67B | 43.21B | 43.49B | 45.69B | 47.69B | 24.63B |
| Total Liabilities | 61.80B | 62.11B | 62.05B | 66.95B | 69.78B | 37.59B |
| Stockholders Equity | 24.19B | 24.00B | 25.68B | 31.33B | 33.29B | 24.15B |
Cash Flow | ||||||
| Free Cash Flow | 2.86B | 2.40B | 1.90B | 1.86B | 1.47B | 1.16B |
| Operating Cash Flow | 2.86B | 2.40B | 1.90B | 2.08B | 1.82B | 1.43B |
| Investing Cash Flow | -221.20M | -187.60M | -825.90M | 938.20M | -19.12B | -1.73B |
| Financing Cash Flow | -2.51B | -1.82B | -961.00M | -3.15B | 18.13B | 402.60M |
Vonovia SE Shs Unsponsored American Depositary Receipt Repr 1/2 Sh Technical Analysis
Positive
15.88
Price Trends
15.88
Positive
16.25
Negative
15.46
Positive
Market Momentum
-0.02
Negative
56.61
Neutral
72.46
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VONOY, the sentiment is Positive. The current price of 15.88 is above the 20-day moving average (MA) of 15.53, above the 50-day MA of 15.88, and above the 200-day MA of 15.46, indicating a bullish trend. The MACD of -0.02 indicates Negative momentum. The RSI at 56.61 is Neutral, neither overbought nor oversold. The STOCH value of 72.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for VONOY.
Vonovia SE Shs Unsponsored American Depositary Receipt Repr 1/2 Sh Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $13.42B | 24.97 | 8.40% | ― | 13.47% | 47.52% | |
73 Outperform | $3.38B | 17.08 | 11.62% | ― | 4.63% | 887.64% | |
68 Neutral | $44.75B | 42.85 | 13.13% | ― | 14.96% | 19.11% | |
66 Neutral | $3.00B | 39.84 | 6.00% | 0.69% | 16.29% | 69.89% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | $32.02B | 296.51 | 1.30% | ― | 12.18% | -51.21% | |
61 Neutral | $26.39B | 62.96 | 1.27% | 4.17% | 29.07% | ― |
* Real Estate Sector Average
VONOY
Vonovia SE Shs Unsponsored American Depositary Receipt Repr 1/2 Sh
15.88
-1.33
-7.73%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.