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Vonovia SE Shs Unsponsored American Depositary Receipt Repr 1/2 Sh (VONOY)
OTHER OTC: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:
$14.50
▼(-2.49% Downside)
Vonovia SE's overall stock score reflects a mix of strong financial performance and attractive valuation, offset by bearish technical indicators. The company's robust cash flow and low P/E ratio are significant positives, while the oversold technical conditions and high leverage pose risks. The positive sentiment from the earnings call further supports the stock's potential for recovery.
Positive Factors
Revenue Growth
The consistent revenue growth indicates a recovery trajectory and expanding operations, which enhances long-term business stability and market presence.
Operational Efficiency
Superior operational efficiency compared to peers strengthens Vonovia's competitive advantage, ensuring better profitability and resilience in the real estate market.
Cash Flow Generation
Robust cash flow generation supports financial obligations and strategic investments, ensuring liquidity and operational flexibility over the long term.
Negative Factors
High Leverage
High leverage can pose risks to financial stability, increasing vulnerability to interest rate hikes and limiting capacity for new investments.
Interest Coverage Concerns
Maintaining a stable interest coverage ratio amid rising expenses is crucial to avoid financial strain, impacting long-term financial health.
Portfolio Reduction
A reduced portfolio size can limit revenue growth potential and market influence, challenging Vonovia's ability to scale operations effectively.
Vonovia SE Shs Unsponsored American Depositary Receipt Repr 1/2 Sh (VONOY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$24.99B
Dividend Yield4.68%
Average Volume (3M)1.94K
Price to Earnings (P/E)7.6
Beta (1Y)0.19
Revenue Growth24.14%
EPS GrowthN/A
CountryUS
Employees12,306
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)1.63
Shares Outstanding1,696,432,700
10 Day Avg. Volume0
30 Day Avg. Volume1,937
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 Cap0.80
Enterprise Value/Revenue3.34
Enterprise Value/Gross Profit10.25
Enterprise Value/Ebitda8.28
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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 generates revenue primarily through rental income from its extensive portfolio of residential properties. The company leases apartments to tenants, which provides a stable and recurring revenue stream. Additionally, Vonovia engages in property management services, which may include maintenance and renovation projects that can further enhance rental income. The company also benefits from property sales and development projects, where it may sell newly built or refurbished units at a premium. Key partnerships with local governments and other housing authorities often facilitate development projects and alignment with regional housing needs, contributing to its earnings. Overall, Vonovia's revenue model is largely dependent on the residential rental market and its ability to manage and grow its property portfolio effectively.
Vonovia SE Shs Unsponsored American Depositary Receipt Repr 1/2 Sh Earnings Call Summary
Earnings Call Date:Nov 05, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Mar 19, 2026
Earnings Call Sentiment Neutral
The earnings call revealed a strong financial performance with significant growth in EBITDA and rent growth forecasts. However, challenges in the transaction market and interest coverage remain. The company is optimistic about its strategic initiatives and future growth prospects.Q3-2025 Updates
Positive Updates
Strong Financial Performance
Total EBITDA increased by 6.4% and EBT increased by 6.8%. Post minorities EBITDA also rose by 6.4%.
Organic Rent Growth Forecast
Organic rent growth is expected to increase to around 5% by 2028, with potential to exceed this due to higher investments.
Value-Add Business Segment Expansion
Value-add EBITDA is expected to be considerably higher than last year, driven by higher investments and contributions from the energy business.
Adjusted Net Yield Efficiency
Vonovia has an adjusted net yield efficiency of just 0.2% leakage for the German portfolio, demonstrating superior scale and efficiency compared to peers.
Asset Value Growth
Net value growth of 70 basis points in H1 is expected to be exceeded in H2.
Negative Updates
Challenging Transaction Market
The transaction market remains below levels seen during the ultra-low interest rate period, though it is stabilizing.
Interest Coverage Concerns
Interest coverage ratio focus remains critical, with an internal threshold of 3.5x, though the company aims to keep this stable amid rising interest expenses.
Development Segment Constraints
Development EBITDA was positively impacted by a land sale, but the pace of new project developments remains slow.
Minor Portfolio Reduction
The rental segment is still impacted by a smaller portfolio, with 9,000 fewer units year-on-year, affecting top-line growth.
Company Guidance
In the Vonovia SE Interim Results call for the first nine months of 2025, the company reported that it is on track to achieve the upper end of its guidance. Total EBITDA increased by 6.4%, while EBT rose by 6.8%. The company expects organic rent growth to reach around 5% by 2028, driven by higher investments and strong market rental growth. Vonovia's focus on cost leadership, scale, and standardization has resulted in a gross-to-net yield difference of only 0.4 percentage points, highlighting its operational efficiency compared to peers. Despite a challenging transaction market, Vonovia remains confident in achieving its ambitious EBITDA targets due to a stable operating environment and continued value and earnings growth. The company plans to increase its investments to EUR 2 billion annually by 2028, aiming for a sustainable return of 7.1% on completed investments between 2014 and 2024.Vonovia SE Shs Unsponsored American Depositary Receipt Repr 1/2 Sh Financial Statement Overview
Summary
Vonovia SE demonstrates a solid recovery trajectory with improving revenue and operational margins in the TTM period. While the balance sheet shows high leverage, the company maintains a stable equity structure. Cash flow generation remains robust, providing a cushion for financial obligations. Continued focus on profitability and debt management will be crucial for sustaining growth.Income Statement
Vonovia SE has shown a positive revenue growth rate of 5.55% in the TTM period, indicating a recovery from previous declines. The gross profit margin remains stable at around 38%, but the net profit margin is relatively low at 6.02%, suggesting challenges in converting revenue into profit. The EBIT and EBITDA margins have improved significantly in the TTM, reflecting better operational efficiency.Balance Sheet
The company's debt-to-equity ratio is high at 1.76, indicating significant leverage, which could pose risks if not managed properly. However, the return on equity has improved to 1.56% in the TTM, showing a positive trend. The equity ratio is stable, suggesting a balanced asset structure.Cash Flow
Vonovia SE's cash flow metrics indicate strong cash generation capabilities, with a free cash flow to net income ratio of 1.0. Despite a slight decline in free cash flow growth, the operating cash flow to net income ratio remains healthy, supporting the company's liquidity position.| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.00B | 5.94B | 5.23B | 5.15B | 3.62B | 3.15B |
| Gross Profit | 1.95B | 2.25B | 2.47B | 2.86B | 2.23B | 2.08B |
| EBITDA | 2.42B | 408.00M | -7.90B | 1.26B | 9.81B | 5.51B |
| Net Income | 2.80B | -896.00M | -6.29B | -669.40M | 2.68B | 3.27B |
Balance Sheet | ||||||
| Total Assets | 91.73B | 90.24B | 92.00B | 101.39B | 105.91B | 62.42B |
| Cash, Cash Equivalents and Short-Term Investments | 3.36B | 2.02B | 1.59B | 1.20B | 1.32B | 453.40M |
| Total Debt | 828.70M | 43.21B | 43.49B | 45.69B | 47.69B | 24.63B |
| Total Liabilities | 60.17B | 62.11B | 62.05B | 66.95B | 69.78B | 37.59B |
| Stockholders Equity | 26.08B | 24.00B | 25.68B | 31.33B | 33.29B | 24.15B |
Cash Flow | ||||||
| Free Cash Flow | 2.70B | 2.40B | 1.90B | 1.86B | 1.47B | 1.16B |
| Operating Cash Flow | 2.70B | 2.40B | 1.90B | 2.08B | 1.82B | 1.43B |
| Investing Cash Flow | -511.40M | -187.60M | -825.90M | 938.20M | -19.12B | -1.73B |
| Financing Cash Flow | -1.35B | -1.82B | -961.00M | -3.15B | 18.13B | 402.60M |
Vonovia SE Shs Unsponsored American Depositary Receipt Repr 1/2 Sh Technical Analysis
Negative
14.87
Price Trends
14.59
Negative
15.17
Negative
15.64
Negative
Market Momentum
0.03
Negative
48.85
Neutral
71.90
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VONOY, the sentiment is Negative. The current price of 14.87 is above the 20-day moving average (MA) of 14.37, above the 50-day MA of 14.59, and below the 200-day MA of 15.64, indicating a neutral trend. The MACD of 0.03 indicates Negative momentum. The RSI at 48.85 is Neutral, neither overbought nor oversold. The STOCH value of 71.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | $16.54B | 26.50 | 9.14% | ― | 12.51% | 32.34% | |
70 Outperform | $49.61B | 40.68 | 14.26% | ― | 14.61% | 30.19% | |
69 Neutral | $3.94B | 17.45 | 12.21% | ― | 6.77% | 150.72% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
61 Neutral | $24.99B | 7.64 | 10.68% | 4.68% | 24.14% | ― | |
59 Neutral | $25.13B | 1,202.72 | 0.25% | ― | 14.61% | -87.93% | |
59 Neutral | $3.15B | 29.40 | 8.08% | 0.68% | 22.22% | 94.52% |
* Real Estate Sector Average
VONOY
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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.