VNO Valuation

Vornado Realty Trust

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37.210

+1.59(4.464%)1D

VNO Relative Valuation

VNO's fair value is calculated using relative valuation, based on historical P/E and P/S ranges and their premiums/discounts relative to a competitor average, adjusted by weights. If the market price exceeds this fair value range, VNO is overvalued; if below, it's undervalued.

Historical Valuation

Vornado Realty Trust (VNO) is now in the Undervalued zone, suggesting that its current forward PS ratio of 4.08 is considered Undervalued compared with the five-year average of -19.39. The fair price of Vornado Realty Trust (VNO) is between 121.10 to 138.89 according to relative valuation methord. Compared to the current price of 37.21 USD , Vornado Realty Trust is Undervalued By 69.27%.

Relative Value

Fair Zone

121.10-138.89

Current Price：37.21

69.27%

Undervalued

-228.61

Trailing

Forward

26.34

EV/EBITDA

Vornado Realty Trust. (VNO) has a current EV/EBITDA of 26.34. The 5-year average EV/EBITDA is 22.27. The thresholds are as follows: Strongly Undervalued below 15.59, Undervalued between 15.59 and 18.93, Fairly Valued between 25.60 and 18.93, Overvalued between 25.60 and 28.94, and Strongly Overvalued above 28.94. The current Forward EV/EBITDA of 26.34 falls within the Overvalued range.

60.13

EV/EBIT

Vornado Realty Trust. (VNO) has a current EV/EBIT of 60.13. The 5-year average EV/EBIT is 53.20. The thresholds are as follows: Strongly Undervalued below 34.19, Undervalued between 34.19 and 43.70, Fairly Valued between 62.70 and 43.70, Overvalued between 62.70 and 72.20, and Strongly Overvalued above 72.20. The current Forward EV/EBIT of 60.13 falls within the Historic Trend Line -Fairly Valued range.

4.08

Vornado Realty Trust. (VNO) has a current PS of 4.08. The 5-year average PS is 3.63. The thresholds are as follows: Strongly Undervalued below 1.19, Undervalued between 1.19 and 2.41, Fairly Valued between 4.85 and 2.41, Overvalued between 4.85 and 6.07, and Strongly Overvalued above 6.07. The current Forward PS of 4.08 falls within the Historic Trend Line -Fairly Valued range.

0.00

P/OCF

Vornado Realty Trust. (VNO) has a current P/OCF of 0.00. The 5-year average P/OCF is 9.92. The thresholds are as follows: Strongly Undervalued below -5.01, Undervalued between -5.01 and 2.46, Fairly Valued between 17.38 and 2.46, Overvalued between 17.38 and 24.85, and Strongly Overvalued above 24.85. The current Forward P/OCF of 0.00 falls within the Undervalued range.

0.00

P/FCF

Vornado Realty Trust. (VNO) has a current P/FCF of 0.00. The 5-year average P/FCF is -86.31. The thresholds are as follows: Strongly Undervalued below -462.12, Undervalued between -462.12 and -274.21, Fairly Valued between 101.60 and -274.21, Overvalued between 101.60 and 289.51, and Strongly Overvalued above 289.51. The current Forward P/FCF of 0.00 falls within the Historic Trend Line -Fairly Valued range.

Vornado Realty Trust (VNO) has a current Price-to-Book (P/B) ratio of 1.91. Compared to its 3-year average P/B ratio of 1.23 , the current P/B ratio is approximately 55.81% higher. Relative to its 5-year average P/B ratio of 1.33, the current P/B ratio is about 44.21% higher. Vornado Realty Trust (VNO) has a Forward Free Cash Flow (FCF) yield of approximately 7.23%. Compared to its 3-year average FCF yield of 13.88%, the current FCF yield is approximately -47.94% lower. Relative to its 5-year average FCF yield of 11.83% , the current FCF yield is about -38.91% lower.

1.91

P/B

Median3y

1.23

Median5y

1.33

7.23

FCF Yield

Median3y

13.88

Median5y

11.83

Competitors Valuation Multiple

The average P/S ratio for VNO's competitors is 49.85, providing a benchmark for relative valuation. Vornado Realty Trust Corp (VNO) exhibits a P/S ratio of , which is -100.00% above the industry average. Given its robust revenue growth of 5.78%, this premium appears unsustainable.

P/S

P/E

EV/EBITDA

EV/EBIT

P/S

Revenue Growth

Market Cap

Federal Realty Investment Trust

Rexford Industrial Realty Inc

Performance Decomposition

Market capitalization of VNO decreased by 12.11% over the past 1 year. The primary factor behind the change was an increase in P/E Change from 4.66 to 78.43.

The secondary factor is the Revenue Growth, contributed 5.78%to the performance.

Overall, the performance of VNO in the past 1 year is driven by P/E Change. Which is more unsustainable.

5.78%

436.38M → 461.58M

Revenue Growth

-1602.08%

-1.44 → 21.63

Margin Expansion

1584.19%

4.66 → 78.43

P/E Change

-12.11%