Vornado Realty Trust (FRA:VO7) Cyclically Adjusted PS Ratio: (As of Aug. 08, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:VO7 Vornado Realty Trust FRA:VO7
76 GF Score
Price €34.00
GF Value €30.23
Valuation Modestly Overvalued
! 10 Warning Signs
View Full Analysis

What is Vornado Realty Trust Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Vornado Realty Trust  (FRA:VO7) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


Vornado Realty Trust Cyclically Adjusted PS Ratio Related Terms


Vornado Realty Trust Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Vornado Realty Trust's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Vornado Realty Trust Cyclically Adjusted PS Ratio Chart

Vornado Realty Trust Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.34 1.67 2.31 3.55 2.86

Vornado Realty Trust Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.27 3.51 2.86 2.23 3.40

FRA:VO7 vs ARE, CUZ, KRC: Cyclically Adjusted PS Ratio Comparison

For the REIT - Office subindustry, Vornado Realty Trust's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Vornado Realty Trust Cyclically Adjusted PS Ratio vs REITs Industry

For the REITs industry and Real Estate sector, Vornado Realty Trust's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Vornado Realty Trust's Cyclically Adjusted PS Ratio falls into.


FRA:VO7
76GF Score
Vornado Realty Trust FRA:VO7
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Vornado Realty Trust Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

Vornado Realty Trust's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Vornado Realty Trust's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=2.066/333.9520*333.9520
=2.066

Current CPI (Jun. 2026) = 333.9520.

Vornado Realty Trust Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 2.357 241.428 3.260
201612 2.559 241.432 3.540
201703 2.495 243.801 3.418
201706 2.388 244.955 3.256
201709 2.325 246.819 3.146
201712 2.369 246.524 3.209
201803 2.289 249.554 3.063
201806 2.426 251.989 3.215
201809 2.428 252.439 3.212
201812 2.497 251.233 3.319
201903 2.477 254.202 3.254
201906 2.145 256.143 2.797
201909 2.215 256.759 2.881
201912 2.171 256.974 2.821
202003 2.105 258.115 2.723
202006 1.594 257.797 2.065
202009 1.616 260.280 2.073
202012 1.618 260.474 2.074
202103 1.662 264.877 2.095
202106 1.635 271.696 2.010
202109 1.811 274.310 2.205
202112 1.941 278.802 2.325
202203 2.090 287.504 2.428
202206 2.234 296.311 2.518
202209 2.406 296.808 2.707
202212 2.199 296.797 2.474
202303 2.171 301.836 2.402
202306 2.238 305.109 2.450
202309 2.190 307.789 2.376
202312 2.129 306.746 2.318
202403 2.108 312.332 2.254
202406 2.152 314.175 2.287
202409 2.096 315.301 2.220
202412 2.185 315.605 2.312
202503 2.127 319.799 2.221
202506 1.903 322.561 1.970
202509 1.931 324.800 1.985
202512 1.929 324.054 1.988
202603 2.094 330.213 2.118
202606 2.066 333.952 2.066

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Vornado Realty Trust (FRA:VO7) Overvalued in 2026?

Based on GuruFocus' analysis, Vornado Realty Trust stock appears to be overvalued. The current stock price of €34.00 is trading 12.5% above its estimated GF Value™ of €30.23. GuruFocus considers Vornado Realty Trust to be Modestly Overvalued.

Key valuation signals for FRA:VO7:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €30.23 vs. price of €34.00 (12.5% above fair value)
  • GF Score™: 76/100 with 10 warning signs

No single metric tells the full story. See the FRA:VO7 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Vornado Realty Trust Business Description

Industry Real EstateREITs
Address 888 Seventh Avenue, New York, NY, USA, 10019
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. 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.
76GF Score

Get the complete analysis for FRA:VO7

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€34.00
Price
€30.23
GF Value