Vornado Realty Trust

Find Ratings Reports
VNO : NYSE : Financial
$75.66 up 0.03 | 0.04%
Today's Range: 75.26 - 76.09
Avg. Daily Volume: 1117900.0
09/22/17 - 4:02 PM ET

Financial Analysis


VORNADO REALTY TRUST's gross profit margin for the second quarter of its fiscal year 2017 has increased 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.

At the same time, stockholders' equity ("net worth") has remained virtually unchanged only increasing by 4.88% from the same quarter last year.

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Income Statement Q2 FY17 Q2 FY16
Net Sales ($mil)686.01648.98
EBITDA ($mil)0.00.0
EBIT ($mil)243.37214.08
Net Income ($mil)132.1240.83


Balance Sheet Q2 FY17 Q2 FY16
Cash & Equiv. ($mil)1557.691738.7
Total Assets ($mil)20889.2921073.73
Total Debt ($mil)10837.5911078.77
Equity ($mil)6916.436594.11


Profitability Q2 FY17 Q2 FY16
Gross Profit Margin35.4832.99
EBITDA Margin0.00.0
Operating Margin35.4832.99
Sales Turnover0.130.12
Return on Assets4.572.92
Return on Equity12.647.56
Debt Q2 FY17 Q2 FY16
Current Ratio0.00.0
Debt/Capital0.610.63
Interest Expense108.84110.23
Interest Coverage2.241.94


Share Data Q2 FY17 Q2 FY16
Shares outstanding (mil)189.47188.83
Div / share0.710.63
EPS0.611.15
Book value / share36.5134.92
Institutional Own % n/a n/a
Avg Daily Volume1047064.01018180.0

Valuation


HOLD. The current P/E ratio indicates a significant discount compared to an average of 60.91 for the Equity Real Estate Investment Trusts REITs industry and a discount compared to the S&P 500 average of 24.88. To use another comparison, its price-to-book ratio of 2.06 indicates a discount versus the S&P 500 average of 3.10 and a significant discount versus the industry average of 3.91. The price-to-sales ratio is well above the S&P 500 average, but well 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 16.27 Peers 60.91   VNO 14.32 Peers 19.13

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

VNO is trading at a significant discount to its peers.

 

Discount. 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 significant discount 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 57.39 Peers 54.38   VNO NM Peers 3.77

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 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 2.06 Peers 3.91   VNO 75.66 Peers 75.66

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 significant discount to its peers.

 

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

VNO is expected to keep pace with its peers on the basis of earnings growth.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
VNO 5.23 Peers 8.31   VNO 5.46 Peers 12.34

Discount. 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 significant discount to 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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