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Vornado Realty TrustLTS:0LR2 +1.21%76 Cyclically Adjusted PS Ratio is 3.28 as of Jul. 14, 2026, which is 3% below its 10-year median of 3.38. GuruFocus rates LTS:0LR2 with a GF Score™ of 76/100 and a GF Value™ of $32.33 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 554 REITs companies, Vornado Realty Trust ranks better than 72.56% on this metric.
The historical rank and industry rank for Vornado Realty Trust's Cyclically Adjusted PS Ratio or its related term are showing as below:
LTS:0LR2'
s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 1.03 Med: 3.38 Max: 6.04
Current: 3.29
During the past years, Vornado Realty Trust's highest Cyclically Adjusted PS Ratio was 6.04. The lowest was 1.03. And the median was 3.38.
LTS:0LR2's Cyclically Adjusted PS Ratio is ranked better than 72.56% of 554
companies
in the REITs industry
Industry Median: 5.915
vs LTS:0LR2: 3.29
The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.
Vornado Realty Trust's adjusted revenue per share data for the three months ended in Mar. 2026 was $2.420. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is $11.70 for the trailing ten years ended in Mar. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Vornado Realty Trust (LTS:0LR2) 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
LTS:0LR2 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.
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.
* 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.
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.
What does a Cyclically Adjusted PS Ratio of 3.28 mean?
Vornado Realty Trust (LTS:0LR2) has a Cyclically Adjusted PS Ratio of 3.28 as of Jul. 14, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Vornado Realty Trust and its competitors. This is near median its historical median of 3.38. Over the past decade, Vornado Realty Trust's Cyclically Adjusted PS Ratio has ranged from 1.03 to 6.04. According to the industry distribution chart, Vornado Realty Trust ranks #152 out of 554 companies in the REITs industry, placing it in the top 27.4%.
Is Vornado Realty Trust's Cyclically Adjusted PS Ratio too high?
Vornado Realty Trust's current Cyclically Adjusted PS Ratio of 3.28 is near median its 10-year median of 3.38. Over the past 10 years, this metric has ranged from a low of 1.03 to a high of 6.04. The REITs industry median Cyclically Adjusted PS Ratio is 5.92. Vornado Realty Trust's value of 3.28 is 44.5% below this industry median. Based on the distribution chart, Vornado Realty Trust ranks #152 out of 554 companies in the REITs industry, which is above the industry midpoint. Overall, Vornado Realty Trust has a GF Score™ of 76/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Vornado Realty Trust's Cyclically Adjusted PS Ratio compare to ARE and CUZ?
According to the REITs industry distribution chart, Vornado Realty Trust ranks #152 out of 554 companies for Cyclically Adjusted PS Ratio. This puts Vornado Realty Trust in the upper half of its industry. The industry median Cyclically Adjusted PS Ratio is 5.92. Vornado Realty Trust's value of 3.28 is 44.5% below this benchmark. Historically, Vornado Realty Trust's own Cyclically Adjusted PS Ratio has ranged from 1.03 to 6.04 over the past decade. While the company's 10-year median is 3.38 vs. the industry median of 5.92, Vornado Realty Trust has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PS Ratio for a REITs company?
The median Cyclically Adjusted PS Ratio among REITs companies is 5.92, based on 554 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Vornado Realty Trust's current Cyclically Adjusted PS Ratio of 3.28 is 44.5% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Vornado Realty Trust and its competitors. For the REITs industry, the median Cyclically Adjusted PS Ratio is 5.92 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Vornado Realty Trust's current Cyclically Adjusted PS Ratio is 3.28, which is near median its own 10-year median of 3.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vornado Realty Trust stock overvalued right now?
Based on GuruFocus' analysis, Vornado Realty Trust (LTS:0LR2) is currently considered Modestly Overvalued. The stock's GF Value™ is $32.33, compared to a current price of $38.34 — trading 18.6% above its estimated fair value. The current Cyclically Adjusted PS Ratio is 3.28, which is near median its 10-year median of 3.38 and 44.5% below the REITs industry median of 5.92. Vornado Realty Trust's overall GF Score™ is 76/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For Vornado Realty Trust (LTS:0LR2), the current Cyclically Adjusted PS Ratio is 3.28 as of Jul. 14, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Vornado Realty Trust (LTS:0LR2) Overvalued in 2026?
Based on GuruFocus' analysis, Vornado Realty Trust stock appears to be overvalued.
The current stock price of $38.34 is trading 18.6% above its estimated GF Value™ of $32.33.
GuruFocus considers Vornado Realty Trust to be Modestly Overvalued.
Key valuation signals for LTS:0LR2:
Cyclically Adjusted PS Ratio: 3.28 (near median its 10-year median of 3.38)
GF Value™: $32.33 vs. price of $38.34 (18.6% above fair value)
Industry Position: 44.5% below the REITs median (#152 of 554)
No single metric tells the full story. See the LTS:0LR2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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
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