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Also traded in: Germany

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 4/10

vs
industry
vs
history
Cash-to-Debt 0.14
VNO's Cash-to-Debt is ranked higher than
70% of the 673 Companies
in the Global REIT - Diversified industry.

( Industry Median: 0.06 vs. VNO: 0.14 )
Ranked among companies with meaningful Cash-to-Debt only.
VNO' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.02  Med: 0.08 Max: 0.48
Current: 0.14
0.02
0.48
Equity-to-Asset 0.27
VNO's Equity-to-Asset is ranked lower than
84% of the 705 Companies
in the Global REIT - Diversified industry.

( Industry Median: 0.53 vs. VNO: 0.27 )
Ranked among companies with meaningful Equity-to-Asset only.
VNO' s Equity-to-Asset Range Over the Past 10 Years
Min: -0.01  Med: 0.32 Max: 0.52
Current: 0.27
-0.01
0.52
Debt-to-Equity 2.05
VNO's Debt-to-Equity is ranked lower than
85% of the 654 Companies
in the Global REIT - Diversified industry.

( Industry Median: 0.79 vs. VNO: 2.05 )
Ranked among companies with meaningful Debt-to-Equity only.
VNO' s Debt-to-Equity Range Over the Past 10 Years
Min: -123.31  Med: 1.51 Max: 125.44
Current: 2.05
-123.31
125.44
Debt-to-EBITDA 8.51
VNO's Debt-to-EBITDA is ranked lower than
72% of the 639 Companies
in the Global REIT - Diversified industry.

( Industry Median: 6.13 vs. VNO: 8.51 )
Ranked among companies with meaningful Debt-to-EBITDA only.
VNO' s Debt-to-EBITDA Range Over the Past 10 Years
Min: 1.7  Med: 8.89 Max: 19.27
Current: 8.51
1.7
19.27
Interest Coverage 1.27
VNO's Interest Coverage is ranked lower than
82% of the 675 Companies
in the Global REIT - Diversified industry.

( Industry Median: 3.75 vs. VNO: 1.27 )
Ranked among companies with meaningful Interest Coverage only.
VNO' s Interest Coverage Range Over the Past 10 Years
Min: 0.13  Med: 1.25 Max: 2.01
Current: 1.27
0.13
2.01
Beneish M-Score: -2.86
WACC vs ROIC
6.73%
3.36%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 4/10

vs
industry
vs
history
Operating Margin % 20.02
VNO's Operating Margin % is ranked lower than
73% of the 709 Companies
in the Global REIT - Diversified industry.

( Industry Median: 50.31 vs. VNO: 20.02 )
Ranked among companies with meaningful Operating Margin % only.
VNO' s Operating Margin % Range Over the Past 10 Years
Min: 4.04  Med: 25.48 Max: 30.38
Current: 20.02
4.04
30.38
Net Margin % 31.39
VNO's Net Margin % is ranked lower than
52% of the 710 Companies
in the Global REIT - Diversified industry.

( Industry Median: 41.68 vs. VNO: 31.39 )
Ranked among companies with meaningful Net Margin % only.
VNO' s Net Margin % Range Over the Past 10 Years
Min: 5.27  Med: 26.27 Max: 37.4
Current: 31.39
5.27
37.4
ROE % 12.46
VNO's ROE % is ranked higher than
78% of the 712 Companies
in the Global REIT - Diversified industry.

( Industry Median: 6.73 vs. VNO: 12.46 )
Ranked among companies with meaningful ROE % only.
VNO' s ROE % Range Over the Past 10 Years
Min: 0.82  Med: 9.01 Max: 12.46
Current: 12.46
0.82
12.46
ROA % 4.25
VNO's ROA % is ranked higher than
64% of the 719 Companies
in the Global REIT - Diversified industry.

( Industry Median: 3.44 vs. VNO: 4.25 )
Ranked among companies with meaningful ROA % only.
VNO' s ROA % Range Over the Past 10 Years
Min: 0.51  Med: 3.04 Max: 4.32
Current: 4.25
0.51
4.32
3-Year Revenue Growth Rate 2.50
VNO's 3-Year Revenue Growth Rate is ranked lower than
53% of the 570 Companies
in the Global REIT - Diversified industry.

( Industry Median: 3.00 vs. VNO: 2.50 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
VNO' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: 0  Med: 4.4 Max: 47.5
Current: 2.5
0
47.5
3-Year EBITDA Growth Rate -2.90
VNO's 3-Year EBITDA Growth Rate is ranked lower than
67% of the 524 Companies
in the Global REIT - Diversified industry.

( Industry Median: 4.40 vs. VNO: -2.90 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
VNO' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: 0  Med: 5.7 Max: 44.7
Current: -2.9
0
44.7
GuruFocus has detected 3 Warning Signs with Vornado Realty Trust VNO.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» VNO's 30-Y Financials

Financials (Next Earnings Date: 2018-02-13)


Revenue & Net Income
Equity & Asset
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q4 2016

VNO Guru Trades in Q4 2016

Paul Tudor Jones 29,616 sh (+1330.03%)
Michael Price 6,000 sh (+130.77%)
Ron Baron 171,352 sh (+41.20%)
Chris Davis 107,723 sh (+1.80%)
Murray Stahl 6,043 sh (+0.70%)
Ronald Muhlenkamp 21,000 sh (unchged)
Third Avenue Management 599,214 sh (-4.02%)
Pioneer Investments 19,200 sh (-5.42%)
Manning & Napier Advisors, Inc 47,810 sh (-19.48%)
» More
Q1 2017

VNO Guru Trades in Q1 2017

Ray Dalio 16,107 sh (New)
Joel Greenblatt 9,256 sh (New)
Jim Simons 239,799 sh (New)
Chris Davis 166,166 sh (+54.25%)
Paul Tudor Jones 33,770 sh (+14.03%)
Ronald Muhlenkamp 21,000 sh (unchged)
Third Avenue Management 599,214 sh (unchged)
Michael Price 6,000 sh (unchged)
Manning & Napier Advisors, Inc Sold Out
Pioneer Investments 18,500 sh (-3.65%)
Ron Baron 114,098 sh (-33.41%)
Murray Stahl 3,999 sh (-33.82%)
» More
Q2 2017

VNO Guru Trades in Q2 2017

Jim Simons 567,099 sh (+136.49%)
Paul Tudor Jones 37,273 sh (+10.37%)
Third Avenue Management 638,714 sh (+6.59%)
Murray Stahl 4,257 sh (+6.45%)
Michael Price 6,000 sh (unchged)
Chris Davis 166,158 sh (unchged)
Ray Dalio Sold Out
Joel Greenblatt Sold Out
Ron Baron Sold Out
Pioneer Investments 18,100 sh (-2.16%)
» More
Q3 2017

VNO Guru Trades in Q3 2017

Caxton Associates 6,000 sh (New)
Manning & Napier Advisors, Inc 24,760 sh (New)
Murray Stahl 5,359 sh (+25.89%)
Third Avenue Management 690,014 sh (+8.03%)
Michael Price 6,000 sh (unchged)
Jim Simons Sold Out
Chris Davis 166,018 sh (-0.08%)
Pioneer Investments 16,200 sh (-10.50%)
Paul Tudor Jones 6,861 sh (-81.59%)
» More
» Details

Insider Trades

Latest Guru Trades with VNO

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Third Avenue Management 2017-09-30 Add 8.03%0.18%$73.37 - $80.56 $ 76.640%690,014
Chris Davis 2017-09-30 Reduce -0.08%$73.37 - $80.56 $ 76.640%166,018
Third Avenue Management 2017-06-30 Add 6.59%0.13%$73.75 - $83.29 $ 76.64-1%638,714
Joel Greenblatt 2017-06-30 Sold Out 0.01%$73.75 - $83.29 $ 76.64-1%0
Ron Baron 2017-06-30 Sold Out 0.06%$73.75 - $83.29 $ 76.64-1%0
Chris Davis 2017-03-31 Add 54.25%0.02%$80.6 - $89.61 $ 76.64-10%166,166
Ron Baron 2017-03-31 Reduce -33.41%0.03%$80.6 - $89.61 $ 76.64-10%114,098
Joel Greenblatt 2017-03-31 New Buy0.01%$80.6 - $89.61 $ 76.64-10%9,256
Third Avenue Management 2016-12-31 Reduce -4.02%0.12%$70.11 - $84.83 $ 76.64-3%599,214
Ron Baron 2016-12-31 Add 41.20%0.03%$70.11 - $84.83 $ 76.64-3%171,352
Chris Davis 2016-12-31 Add 1.80%$70.11 - $84.83 $ 76.64-3%107,723
Michael Price 2016-12-31 Add 130.77%0.05%$70.11 - $84.83 $ 76.64-3%6,000
Premium More recent guru trades are included for Premium Members only!!
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» Interactive Charts

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Preferred stocks of Vornado Realty Trust

SymbolPriceYieldDescription
VNORP148.252.19Series A Convertible Preferred Shares of Beneficial Interest
VNOpI25.686.466.625% Series I Cumulative Redeemable Preferred Shares
VNOpL25.395.32Cum Red Pfd Shs Series -L-
VNOPRJCL25.296.806 7/8 % Cum Red Pfd Shs of Benef Interest Series -J-
VNOpK25.555.575.7% Pfd Series K
VNOpG25.786.476.625% Series G Cumulative Redeemable Preferred Shares

Business Description

Industry: REITs » REIT - Diversified    NAICS: 531120    SIC: 6798
Compare:NYSE:NLY, ASX:GMG, XPAR:GFC, ASX:SGP, NYSE:VER, NAS:GLPI, ASX:DXS, XPAR:FDR, NYSE:WPC, ASX:GPT, NYSE:CLNS, NAS:LAMR, XPAR:ICAD, NYSE:ESRT, ARCA:ESBA, XMCE:MRL, NYSE:STWD, NAS:CONE, JSE:GRT, MEX:FUNO 11 » details
Traded in other countries:VO7.Germany,
Headquarter Location:USA
Vornado Realty Trust is a fully‑integrated real estate investment trust. The company owns and has ownership interest in Class A office and retail properties in New York and Washington, DC.

Vornado owns and has ownership interest in Class A office and retail properties highly concentrated in Manhattan, with additional properties in San Francisco and Chicago. It operates as a real estate investment trust.

Ratios

vs
industry
vs
history
PE Ratio 18.51
VNO's PE Ratio is ranked higher than
50% of the 628 Companies
in the Global REIT - Diversified industry.

( Industry Median: 16.50 vs. VNO: 18.51 )
Ranked among companies with meaningful PE Ratio only.
VNO' s PE Ratio Range Over the Past 10 Years
Min: 8.27  Med: 21.35 Max: 955.19
Current: 18.51
8.27
955.19
Forward PE Ratio 54.35
VNO's Forward PE Ratio is ranked lower than
95% of the 213 Companies
in the Global REIT - Diversified industry.

( Industry Median: 17.89 vs. VNO: 54.35 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
PE Ratio without NRI 20.06
VNO's PE Ratio without NRI is ranked higher than
50% of the 624 Companies
in the Global REIT - Diversified industry.

( Industry Median: 16.78 vs. VNO: 20.06 )
Ranked among companies with meaningful PE Ratio without NRI only.
VNO' s PE Ratio without NRI Range Over the Past 10 Years
Min: 11.69  Med: 30.43 Max: 527.3
Current: 20.06
11.69
527.3
Price-to-Owner-Earnings 19.99
VNO's Price-to-Owner-Earnings is ranked higher than
50% of the 306 Companies
in the Global REIT - Diversified industry.

( Industry Median: 17.33 vs. VNO: 19.99 )
Ranked among companies with meaningful Price-to-Owner-Earnings only.
VNO' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 13.45  Med: 25.42 Max: 182.87
Current: 19.99
13.45
182.87
PB Ratio 4.12
VNO's PB Ratio is ranked lower than
91% of the 703 Companies
in the Global REIT - Diversified industry.

( Industry Median: 1.09 vs. VNO: 4.12 )
Ranked among companies with meaningful PB Ratio only.
VNO' s PB Ratio Range Over the Past 10 Years
Min: 0.63  Med: 2.13 Max: 4.29
Current: 4.12
0.63
4.29
PS Ratio 5.39
VNO's PS Ratio is ranked higher than
65% of the 667 Companies
in the Global REIT - Diversified industry.

( Industry Median: 7.53 vs. VNO: 5.39 )
Ranked among companies with meaningful PS Ratio only.
VNO' s PS Ratio Range Over the Past 10 Years
Min: 1.68  Med: 5.11 Max: 7.88
Current: 5.39
1.68
7.88
Price-to-Free-Cash-Flow 48.35
VNO's Price-to-Free-Cash-Flow is ranked lower than
94% of the 325 Companies
in the Global REIT - Diversified industry.

( Industry Median: 18.23 vs. VNO: 48.35 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
VNO' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 4.9  Med: 31.66 Max: 2542.86
Current: 48.35
4.9
2542.86
Price-to-Operating-Cash-Flow 13.40
VNO's Price-to-Operating-Cash-Flow is ranked higher than
50% of the 586 Companies
in the Global REIT - Diversified industry.

( Industry Median: 14.74 vs. VNO: 13.40 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
VNO' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 4.53  Med: 14.63 Max: 27.14
Current: 13.4
4.53
27.14
EV-to-EBIT 44.58
VNO's EV-to-EBIT is ranked lower than
84% of the 658 Companies
in the Global REIT - Diversified industry.

( Industry Median: 19.94 vs. VNO: 44.58 )
Ranked among companies with meaningful EV-to-EBIT only.
VNO' s EV-to-EBIT Range Over the Past 10 Years
Min: -709.4  Med: 42.8 Max: 1807.6
Current: 44.58
-709.4
1807.6
EV-to-EBITDA 22.00
VNO's EV-to-EBITDA is ranked lower than
70% of the 675 Companies
in the Global REIT - Diversified industry.

( Industry Median: 16.55 vs. VNO: 22.00 )
Ranked among companies with meaningful EV-to-EBITDA only.
VNO' s EV-to-EBITDA Range Over the Past 10 Years
Min: 7.4  Med: 21.8 Max: 34.5
Current: 22
7.4
34.5
EV-to-Revenue 8.93
VNO's EV-to-Revenue is ranked higher than
66% of the 704 Companies
in the Global REIT - Diversified industry.

( Industry Median: 12.66 vs. VNO: 8.93 )
Ranked among companies with meaningful EV-to-Revenue only.
VNO' s EV-to-Revenue Range Over the Past 10 Years
Min: 3.5  Med: 9.85 Max: 12.5
Current: 8.93
3.5
12.5
PEG Ratio 15.46
VNO's PEG Ratio is ranked lower than
86% of the 238 Companies
in the Global REIT - Diversified industry.

( Industry Median: 2.12 vs. VNO: 15.46 )
Ranked among companies with meaningful PEG Ratio only.
VNO' s PEG Ratio Range Over the Past 10 Years
Min: 1.79  Med: 8.92 Max: 63.46
Current: 15.46
1.79
63.46
Shiller PE Ratio 26.14
VNO's Shiller PE Ratio is ranked lower than
52% of the 213 Companies
in the Global REIT - Diversified industry.

( Industry Median: 24.65 vs. VNO: 26.14 )
Ranked among companies with meaningful Shiller PE Ratio only.
VNO' s Shiller PE Ratio Range Over the Past 10 Years
Min: 6.49  Med: 20.58 Max: 34.1
Current: 26.14
6.49
34.1

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield % 3.41
VNO's Dividend Yield % is ranked lower than
85% of the 944 Companies
in the Global REIT - Diversified industry.

( Industry Median: 5.32 vs. VNO: 3.41 )
Ranked among companies with meaningful Dividend Yield % only.
VNO' s Dividend Yield % Range Over the Past 10 Years
Min: 2.83  Med: 4.06 Max: 17.31
Current: 3.41
2.83
17.31
Dividend Payout Ratio 0.72
VNO's Dividend Payout Ratio is ranked higher than
66% of the 767 Companies
in the Global REIT - Diversified industry.

( Industry Median: 9999.00 vs. VNO: 0.72 )
Ranked among companies with meaningful Dividend Payout Ratio only.
VNO' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.59  Med: 1.3 Max: 29.54
Current: 0.72
0.59
29.54
3-Year Dividend Growth Rate -4.80
VNO's 3-Year Dividend Growth Rate is ranked lower than
79% of the 440 Companies
in the Global REIT - Diversified industry.

( Industry Median: 4.30 vs. VNO: -4.80 )
Ranked among companies with meaningful 3-Year Dividend Growth Rate only.
VNO' s 3-Year Dividend Growth Rate Range Over the Past 10 Years
Min: 0  Med: 5.8 Max: 25
Current: -4.8
0
25
Forward Dividend Yield % 3.15
VNO's Forward Dividend Yield % is ranked lower than
99% of the 942 Companies
in the Global REIT - Diversified industry.

( Industry Median: 5.50 vs. VNO: 3.15 )
Ranked among companies with meaningful Forward Dividend Yield % only.
N/A
5-Year Yield-on-Cost % 3.07
VNO's 5-Year Yield-on-Cost % is ranked lower than
99.99% of the 944 Companies
in the Global REIT - Diversified industry.

( Industry Median: 5.78 vs. VNO: 3.07 )
Ranked among companies with meaningful 5-Year Yield-on-Cost % only.
VNO' s 5-Year Yield-on-Cost % Range Over the Past 10 Years
Min: 2.55  Med: 3.65 Max: 15.57
Current: 3.07
2.55
15.57
3-Year Average Share Buyback Ratio -0.30
VNO's 3-Year Average Share Buyback Ratio is ranked higher than
84% of the 507 Companies
in the Global REIT - Diversified industry.

( Industry Median: -5.70 vs. VNO: -0.30 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
VNO' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -20.6  Med: -6.3 Max: 6.7
Current: -0.3
-20.6
6.7

Valuation & Return

vs
industry
vs
history
Price-to-Tangible-Book 4.32
VNO's Price-to-Tangible-Book is ranked lower than
90% of the 696 Companies
in the Global REIT - Diversified industry.

( Industry Median: 1.12 vs. VNO: 4.32 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
VNO' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 0.79  Med: 2.19 Max: 91.61
Current: 4.32
0.79
91.61
Price-to-Intrinsic-Value-Projected-FCF 2.52
VNO's Price-to-Intrinsic-Value-Projected-FCF is ranked lower than
72% of the 241 Companies
in the Global REIT - Diversified industry.

( Industry Median: 1.07 vs. VNO: 2.52 )
Ranked among companies with meaningful Price-to-Intrinsic-Value-Projected-FCF only.
VNO' s Price-to-Intrinsic-Value-Projected-FCF Range Over the Past 10 Years
Min: 0.92  Med: 2.24 Max: 21.78
Current: 2.52
0.92
21.78
Price-to-Median-PS-Value 1.05
VNO's Price-to-Median-PS-Value is ranked lower than
65% of the 526 Companies
in the Global REIT - Diversified industry.

( Industry Median: 1.05 vs. VNO: 1.05 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
VNO' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.37  Med: 1.02 Max: 3.37
Current: 1.05
0.37
3.37
Price-to-Graham-Number 1.96
VNO's Price-to-Graham-Number is ranked lower than
75% of the 564 Companies
in the Global REIT - Diversified industry.

( Industry Median: 0.88 vs. VNO: 1.96 )
Ranked among companies with meaningful Price-to-Graham-Number only.
VNO' s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.81  Med: 1.57 Max: 10.63
Current: 1.96
0.81
10.63
Earnings Yield (Greenblatt) % 2.24
VNO's Earnings Yield (Greenblatt) % is ranked lower than
76% of the 723 Companies
in the Global REIT - Diversified industry.

( Industry Median: 4.58 vs. VNO: 2.24 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
VNO' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: -0.2  Med: 2.3 Max: 7.8
Current: 2.24
-0.2
7.8
Forward Rate of Return (Yacktman) % 2.04
VNO's Forward Rate of Return (Yacktman) % is ranked higher than
54% of the 395 Companies
in the Global REIT - Diversified industry.

( Industry Median: 2.35 vs. VNO: 2.04 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) % only.
VNO' s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -26.3  Med: 0.5 Max: 9.6
Current: 2.04
-26.3
9.6

More Statistics

Revenue (TTM) (Mil) $2,709.23
EPS (TTM) $ 4.14
Beta1.08
Short Percentage of Float2.59%
52-Week Range $71.90 - 90.29
Shares Outstanding (Mil)189.88

Analyst Estimate

Dec17 Dec18 Dec19
Revenue (Mil $) 2,348 2,173 2,349
EPS ($) 1.56 1.40 2.26
EPS without NRI ($) 1.56 1.40 2.26
EPS Growth Rate
(Future 3Y To 5Y Estimate)
-14.48%
Dividends per Share ($) 8.75 2.45 2.49

Piotroski F-Score Details

Piotroski F-Score: ----
Positive ROAN
Positive CFROAN
Higher ROA yoyN
CFROA > ROAN
Lower Leverage yoyN
Higher Current Ratio yoyN
Less Shares Outstanding yoyN
Higher Gross Margin yoyN
Higher Asset Turnover yoyN

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