Vornado Realty Trust

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VNO : NYSE : Financial
$107.2 up 1.41 | 1.33%
Today's Range: 105.59 - 107.42
Avg. Daily Volume: 1053200.0
01/23/17 - 4:02 PM ET

Financial Analysis


VORNADO REALTY TRUST's gross profit margin for the third quarter of its fiscal year 2016 is essentially unchanged when compared to the same period a year ago. Even though sales increased, the net income has decreased, representing a decrease to the bottom line.

During the same period, stockholders' equity ("net worth") has decreased by 5.48% from the same quarter last year.

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Income Statement Q3 FY16 Q3 FY15
Net Sales ($mil)644.91632.1
EBITDA ($mil)0.00.0
EBIT ($mil)200.87195.94
Net Income ($mil)92.58219.23


Balance Sheet Q3 FY16 Q3 FY15
Cash & Equiv. ($mil)1464.64896.1
Total Assets ($mil)20859.3719971.93
Total Debt ($mil)11200.2410007.01
Equity ($mil)6315.836682.15


Profitability Q3 FY16 Q3 FY15
Gross Profit Margin31.1531.0
EBITDA Margin0.00.0
Operating Margin31.1531.0
Sales Turnover0.120.13
Return on Assets2.355.22
Return on Equity6.267.1
Debt Q3 FY16 Q3 FY15
Current Ratio0.00.0
Debt/Capital0.640.6
Interest Expense104.12121.35
Interest Coverage1.931.61


Share Data Q3 FY16 Q3 FY15
Shares outstanding (mil)188.99188.54
Div / share0.630.63
EPS0.340.88
Book value / share33.4235.44
Institutional Own % n/a n/a
Avg Daily Volume1043910.0753416.0

Valuation


HOLD. VORNADO REALTY TRUST's P/E ratio indicates a discount compared to an average of 58.00 for the Equity Real Estate Investment Trusts REITs industry and a significant premium compared to the S&P 500 average of 25.41. To use another comparison, its price-to-book ratio of 3.15 indicates a premium versus the S&P 500 average of 2.83 and a discount versus the industry average of 3.60. The current price-to-sales ratio is well above the S&P 500 average, but below the industry average. Upon assessment of these and other key valuation criteria, VORNADO REALTY TRUST proves to trade at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
VNO 50.34 Peers 58.00   VNO 24.75 Peers 20.21

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

VNO is trading at a discount to its peers.

 

Premium. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

VNO is trading at a premium to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
VNO 56.41 Peers 54.40   VNO NM Peers 3.93

Premium. A higher price-to-projected earnings ratio than its peers can signify a more expensive stock or higher future growth expectations.

VNO is trading at a significant premium to its peers.

 

Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

VNO's negative PEG ratio makes this valuation measure meaningless.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
VNO 3.15 Peers 3.60   VNO -16.40 Peers 63.37

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

VNO is trading at a discount to its peers.

 

Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, VNO is expected to significantly trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
VNO 7.66 Peers 7.85   VNO 1.34 Peers 16.28

Average. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

VNO is trading at a valuation on par with its industry on this measurement.

 

Lower. A sales growth rate that trails the industry implies that a company is losing market share.

VNO significantly trails its peers on the basis of sales growth

 

 

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