Stock Analysis
Vornado Realty TrustVNO
P/E 90.58×· 5Y range 5.49–1,094.30×· 67th percentile of history
Sector: Real Estate · Industry: Real Estate Investment Trusts
AnalystsHold18 analystsP/E 90.6× sits at the 67th percentile of its 5.086926762491444-year history.
PMP Verdict
Mixed fundamentals, fairly valued
Strengths
- Growth81
Risks
- Financial Health39
- Quality40
Mixed picture — no clear quality or value edge.
What's happening with VNO
Profile
Strong growth; moat, valuation, financial health, earnings quality and profitability lag behind.
How is each axis scored?
- Valuation35/100 · Weak
- P/E vs own history (67th pct)5/25
- FCF yield (-0.9%)0/25
- P/S (3.4x)20/25
- EV/EBIT (n/a)10/25
- Growth81/100 · Strong
- Revenue CAGR (1.5%)6/25
- Net income CAGR (73.0%)25/25
- EPS CAGR 5Y (70.9%)25/25
- Fwd implied growth (463.5%)25/25
- Profitability48/100 · Weak
- ROIC (14.6%)12/25
- ROE (1.1%)5/25
- Net margin (3.7%)6/25
- Operating margin (52.0%)25/25
- Financial Health39/100 · Weak
- Altman Z (0.46)3/25
- Current ratio (1.50)18/25
- Interest coverage (6.8x)18/25
- Net cash / debt (n/a)0/25
- Quality40/100 · Weak
- Piotroski F (5/9)15/25
- Beneish M (-4.12)25/25
- FCF conversion (-81%)0/25
- Margin stability (σ 74.6%)0/25
- Moat31/100 · Weak
- ROIC >12% years (3/9 yrs)6/25
- Median gross margin (n/a)0/25
- FCF-positive years (9/9 yrs)25/25
- Worst-year net margin (worst -19.4%)0/25
Risk Flags
- ⚠Altman Z 0.5 — distress-zone balance sheet
- ⚠Negative FCF margin (-0.0%) — burning cash
- ⚠2 loss-making years in recent history
About Vornado Realty Trust
Vornado Realty Trust is a fully integrated real estate investment trust with a portfolio of New York City office, retail, and multifamily assets, and the developer of the new Penn District. Show more
While concentrated in New York, the trust also owns assets in both Chicago and San Francisco. It generates revenue in the form of property rentals, fees charged for trade shows, parking revenues, management and leasing fees, etc. Vornado operates in the following reportable segments: New York (its key revenue-generating market) and Other.
Headquarters: NEW YORK, NY · Employees: 3,145 · Website ↗
Price History
Weekly Candlestick Chart — up to 5Y
Key Metrics
Financial snapshot · Tap any metric for its definition and grade
TTM Snapshot
trailing twelve months · YoYValuation
35DP/E (TTM)90.6xD
Grade D: ExpensivePrice / TTM EPS (own statements) — vs own 5Y history: 5.5x–1094.3x · 67th pct
P/FCF66.8xD
Grade D: ExpensivePrice / Free Cash Flow per share (Finnhub). Inverse of FCF yield — negative when FCF is negative · CapEx exceeds operating cash flow (114% of OCF) — reported FCF understates normalized earning power in this investment phase
FCF Yield-0.9%D
Grade D: NegativeTTM (OCF − CapEx) / Market Cap — vs own 5Y history: -0.9%–32.0% · lowest in history · CapEx exceeds operating cash flow (114% of OCF) — reported FCF understates normalized earning power in this investment phase
P/S (TTM)3.36xB
Grade B: FairPrice / TTM Revenue (own statements) — vs own 5Y history: 1.3x–6.0x · 43rd pct
EV/EBITDA17.6xB
Grade B: FairEnterprise value / EBITDA (Finnhub) — capital-structure neutral — vs own 5Y history: 14.0x–18.0x · 1st pct
EV/Sales7.1xC
Grade C: ExpensiveEnterprise Value / TTM Revenue (Finnhub) — capital-structure neutral sales multiple
Forward P/E16.1xB
Grade B: FairPrice / next-year EPS estimate — shows whether the TTM multiple is rich or just front-loading growth
P/B Ratio1.03xA
Grade A: FairPrice to Book Value. Neg. equity = heavy buybacks
PEG Ratio—
Finnhub PEG — their P/E basis ÷ expected EPS growth. Suppressed when their P/E diverges >2× from our TTM P/E (different basis)
Dividend Yield3.25%A
Grade A: PaysTTM dividend yield (Finnhub) — annual dividends / price. None = no dividend; very high yield can signal distress
Payout Ratio249.8%D
Grade D: UnsustainableDividends / Net Income (Finnhub) — share of earnings paid out; >90% or negative = unsustainable
CapEx exceeds OCF: CapEx exceeds operating cash flow (114% of OCF) — reported FCF understates normalized earning power in this investment phase
Profitability
48D+ROIC14.6%C
Grade C: AverageNOPAT (EBIT less ~21% tax) / invested capital (equity + debt − cash). Flagship quality metric — durable >15% signals a moat
ROE1.1%D
Grade D: WeakReturn on Equity. Neg. equity = heavy buybacks
ROA0.4%D
Grade D: WeakReturn on Assets (Finnhub) — Net Income / Total Assets; how efficiently assets produce profit
Net Margin3.7%D
Grade D: LowNet Income / Revenue
Operating Margin52.0%A
Grade A: HighTTM EBIT / TTM Revenue
Gross Margin48.3%C
Grade C: AverageGross Profit / Revenue
FCF Margin-3.0%D
Grade D: LowFCF / Revenue · CapEx exceeds operating cash flow (114% of OCF) — reported FCF understates normalized earning power in this investment phase
True FCF Margin-4.4%D
Grade D: LowTTM (OCF − CapEx − SBC) / TTM Revenue — SBC treated as a real cost · CapEx exceeds operating cash flow (114% of OCF) — reported FCF understates normalized earning power in this investment phase
Growth
81ARevenue CAGR1.5%D
Grade D: LowCompound annual revenue growth (up to 5Y depending on data availability)
Net Income CAGR73.0%A
Grade A: HighCompound annual net income growth (up to 5Y depending on data availability)
EPS CAGR (5Y)70.9%A
Grade A: HighCompound annual EPS growth over up to 5Y of per-share earnings (own statements). Null when either endpoint EPS ≤ 0
Implied EPS Growth463.5%A
Grade A: HighAnalyst forward EPS (normalized basis) vs our GAAP TTM EPS — different bases, so extreme values usually mark cyclically depressed TTM earnings, not real growth
Dilution (5Y)-2.9%A
Grade A: BuybacksShare count change over 5Y
SBC / Net Income37.4%D
Grade D: HighStock-based comp/Net income. >30% = dilution risk
SBC / Revenue1.4%A
Grade A: LowTTM stock-based comp / TTM Revenue
Financial Health
39DAltman Z-Score0.46D
Grade D: DistressBankruptcy risk. >3 Safe, <1.8 Distress
Current Ratio1.50xC
Grade C: OkCurrent Assets/Liabilities
Quick Ratio1.50xA
Grade A: High(Current Assets − Inventory) / Current Liabilities (Finnhub) — stricter liquidity test, excludes inventory
Interest Coverage6.8xC
Grade C: OkEBIT/Interest. >10 Strong
Debt Repayment—
Years to repay net debt via FCF · CapEx exceeds operating cash flow (114% of OCF) — reported FCF understates normalized earning power in this investment phase
Net Debt/EBIT—
Leverage. <2x Low, >4x High
Debt/Equity1.29xC
Grade C: MedDebt / Equity: <1 Conservative, >2 Risky. Not meaningful with non-positive equity; shown as unavailable rather than low debt.
Cash / Debt—
Cash covers how much of total debt. >1 = could repay all debt from cash
Quality
40D+Piotroski F-Score5/9C
Grade C: AverageFinancial strength 0–9. >7 Strong
Beneish M-Score-4.12A
Grade A: SafeEarnings manipulation risk. < -2.22 Safe
FCF Conversion-80.8%D
Grade D: PoorFCF / Net Income · CapEx exceeds operating cash flow (114% of OCF) — reported FCF understates normalized earning power in this investment phase
Margin Stability74.6%D
Grade D: VolatileEBIT margin std deviation. Lower = stable
Capex / Revenue24.4%D
Grade D: HeavyTTM CapEx / TTM Revenue — high % = capital-hungry business
Asset Turnover0.12xD
Grade D: LowRevenue / Total Assets (Finnhub) — how efficiently the asset base generates sales
Insider Transactions
SEC Form 4 · 8 recordsP/S codes are the directional signal; grants, option exercises and tax withholding carry none. Form 4 doesn't flag 10b5-1 plans — scheduled sales may appear within open-market sells.
| Trade date | Insider | Transaction | Shares | Filed |
|---|---|---|---|---|
Weiss Glen J. Filed | Weiss Glen J. | Option exercise | +50.2K | |
Weiss Glen J. Filed | Weiss Glen J. | Option exercise | -100000 | |
Chera Haim Filed | Chera Haim | SellOpen market sale | -90000 | |
Fascitelli Michael D Filed | Fascitelli Michael D | SellOpen market sale | -8000 | |
Fascitelli Michael D Filed | Fascitelli Michael D | SellOpen market sale | -125350 |
Show 3 more filingsShow fewer filings
| Trade date | Insider | Transaction | Shares | Filed |
|---|---|---|---|---|
WIGHT RUSSELL B JR Filed | WIGHT RUSSELL B JR | BuyOpen market buy | +1.0K | |
WIGHT RUSSELL B JR Filed | WIGHT RUSSELL B JR | BuyOpen market buy | +1.0K | |
WIGHT RUSSELL B JR Filed | WIGHT RUSSELL B JR | BuyOpen market buy | +1.0K |
Option exercise (M) rows report a derivative leg, not an open-market sale — a paired negative entry is the option position being consumed.
More metrics — Moat, Per Share, Balance Sheet, MarketHide additional metrics
Moat
31DROIC >12% Years3/9 yrsD
Grade D: WeakShare of completed fiscal years with ROIC > 12% — measures multi-year capital-return durability
Gross Margin (Med.)—
Median annual gross margin across available fiscal years — pricing-power durability
FCF-Positive Years9/9 yrsA
Grade A: DurableShare of completed fiscal years with positive free cash flow
Net Margin Floor-19.4%D
Grade D: WeakWeakest annual net margin across completed fiscal years — recession/downcycle resilience
Per Share
EPS (TTM)$0.36
Own TTM net income / shares — same earnings basis as P/E
Cash / Share$3.62
Cash & short-term investments per share (Finnhub)
Book Value / Share$31.00
Shareholders' equity per share (Finnhub). Negative = accumulated losses / heavy buybacks
Balance Sheet
Total Debt—
Total debt obligations (short + long term)
Cash & Equiv.$840.85M
Cash and short-term investments
Net Debt—
Total Debt minus Cash. Negative = Net Cash position
Total Equity$5.99B
Shareholders' equity (book value)
Asset / Liability1.78xC
Grade C: AdequateTotal Assets / Total Liabilities
Market
Market Cap$6.15B
Current Market Capitalization
Beta1.62C
Grade C: VolatilePrice sensitivity vs the market (Finnhub) — 1.0 moves with market, >1.2 amplifies swings
How grades work: each metric is graded A–D against fixed thresholds (tap a row for the meaning). Card grades map the pillar score to A+–E — a card grade is that pillar's own score, not an average of the rows shown.
Financials as of Jun 2026 · Ratio snapshot Oct 17, 2026
Key Insights: Vornado Realty Trust (VNO)
VNO is down 0.90% at the last close. Piotroski F-Score of 5/9 indicates mixed fundamentals for Vornado Realty Trust. Altman Z-Score of 0.46 is below the 1.81 distress threshold — an elevated financial-risk flag. Beneish M-Score of -4.12 suggests a low likelihood of earnings manipulation.
- Free-cash-flow margin is negative (-3%) — the business currently burns cash.
- Vornado Realty Trust posted a net loss in 2 of 10 available completed fiscal years (2016–2025).
- The stock currently yields 3.3% in dividends.
See how VNO ranks on the Capex Tracker — top 50 capital spenders compared.
Recent Market Moves
See all VNO moves →| Date | Session | Price | Move | Z-Score |
|---|---|---|---|---|
| Oct 15 | After-hours | 33.23 | +2.75% | 2.08 |
| Oct 14 | Regular | 32.14 | -5.00% | -4.35 |
| Oct 14 | After-hours | 32.34 | -4.40% | -3.81 |
Frequently Asked Questions about VNO
What is the current Vornado Realty Trust (VNO) stock price?
VNO is trading at $32.93 at the last market close, down 0.90% on the session. PreMarketPrice tracks VNO pre-market, intraday and after-hours prices.
Is VNO stock a buy right now?
PreMarketPrice's quantitative model rates Vornado Realty Trust's financial health at 39/100. This is a data-driven snapshot of fundamentals, not investment advice.
Is VNO stock overvalued?
Vornado Realty Trust trades at a trailing P/E of 90.6 and our valuation score rates it 35/100 (higher = cheaper vs. its own history). See the Valuation History and Key Metrics sections for forward P/E, EV/EBITDA and PEG context.
When does Vornado Realty Trust report earnings?
No confirmed earnings date is currently scheduled for VNO. The Earnings section lists recent reports and updates as dates are announced.
What sector does Vornado Realty Trust operate in?
Vornado Realty Trust operates in the Real Estate sector, within the Real Estate Investment Trusts industry. The Related Stocks section lists sector peers for comparison.
What does Vornado Realty Trust do?
Vornado Realty Trust is a fully integrated real estate investment trust with a portfolio of New York City office, retail, and multifamily assets, and the developer of the new Penn District.
About Vornado Realty Trust (VNO) Stock
Vornado Realty Trust (VNO) is a US-listed stock operating in the Real Estate sector, specifically the Real Estate Investment Trusts industry. As of the latest update, Vornado Realty Trust is trading at $32.93, down 0.90% on the day with a market capitalization of $6.2 billion. The financial health score for VNO is 39/100, which indicates weak financial strength based on profitability, leverage, liquidity, and growth metrics. This page provides real-time pre-market pricing, earnings calendar, financial health analysis, and valuation metrics for VNO stock.
VNO Stock Analysis & Key Metrics
On PreMarketPrice, you can track Vornado Realty Trust (VNO) across multiple dimensions:
- Pre-market price & movement: Real-time VNO stock price with percentage change, updated continuously during pre-market and regular trading hours.
- Valuation & P/E history: Historical P/E, P/S, and P/B ratios for VNO with trend analysis and normalized valuation multiples.
- Financial statements: Revenue, net income, assets, liabilities, and equity for Vornado Realty Trust across multiple reporting periods.
- Financial health score: A composite score of 39/100 based on Altman Z-Score, Piotroski F-Score, profitability, and leverage metrics for VNO.
- Sector peers: Compare VNO against 5 other real estate stocks on key financial metrics.
Is VNO a Good Stock to Buy?
This page provides data-driven analysis to help you evaluate Vornado Realty Trust (VNO) as an investment. The financial health score of 39/100 suggests weak financial fundamentals. Valuation metrics show whether the stock is trading above or below its historical average.However, this is not financial advice — always do your own research before investing.
Data on this page is sourced from real-time market feeds, Polygon.io, and Finnhub.Vornado Realty Trust (VNO) trades on NYSE/NASDAQ. Pre-market trading occurs 4:00 AM – 9:30 AM ET. Regular market hours are 9:30 AM – 4:00 PM ET.