Vornado Realty Trust

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VNO : NYSE : Financial
$93.18 up 0.05 | 0.05%
Today's Range: 92.94 - 93.55
Avg. Daily Volume: 976200.0
05/23/17 - 4:03 PM ET

Financial Analysis


VORNADO REALTY TRUST's gross profit margin for the first quarter of its fiscal year 2017 has significantly increased when compared to the same period a year ago. The company has grown sales and net income during the past quarter when compared with the same quarter a year ago, however, it was unable to keep up with the growth of the average competitor within its industry.

At the same time, stockholders' equity ("net worth") has remained virtually unchanged only increasing by 4.85% from the same quarter last year.

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Income Statement Q1 FY17 Q1 FY16
Net Sales ($mil)631.79623.6
EBITDA ($mil)0.00.0
EBIT ($mil)167.4110.28
Net Income ($mil)63.88-93.8


Balance Sheet Q1 FY17 Q1 FY16
Cash & Equiv. ($mil)1583.011782.71
Total Assets ($mil)20731.4520873.37
Total Debt ($mil)10615.4411059.83
Equity ($mil)6841.716524.92


Profitability Q1 FY17 Q1 FY16
Gross Profit Margin26.51.65
EBITDA Margin0.00.0
Operating Margin26.51.65
Sales Turnover0.130.12
Return on Assets5.132.69
Return on Equity14.286.84
Debt Q1 FY17 Q1 FY16
Current Ratio0.00.0
Debt/Capital0.610.63
Interest Expense105.56109.56
Interest Coverage1.590.09


Share Data Q1 FY17 Q1 FY16
Shares outstanding (mil)189.34188.77
Div / share0.710.63
EPS0.24-0.61
Book value / share36.1334.57
Institutional Own % n/a n/a
Avg Daily Volume970813.0897116.0

Valuation


BUY. The current P/E ratio indicates a significant discount compared to an average of 51.52 for the Equity Real Estate Investment Trusts REITs industry and a discount compared to the S&P 500 average of 25.02. For additional comparison, its price-to-book ratio of 2.57 indicates a discount versus the S&P 500 average of 3.00 and a discount versus the industry average of 3.57. 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 17.99 Peers 51.52   VNO 17.14 Peers 18.90

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.

 

Average. 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 valuation on par 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 49.65 Peers 62.39   VNO NM Peers 4.87

Average. An average price-to-projected earnings ratio can signify an industry neutral stock price and average future growth expectations.

VNO is trading at a valuation on par with 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 2.57 Peers 3.57   VNO 119.57 Peers 33.31

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.

 

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

VNO is expected to have an earnings growth rate that significantly exceeds its peers.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
VNO 6.55 Peers 7.95   VNO 4.28 Peers 9.98

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 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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