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Vornado Realty TrustLTS:0LR2 76 Debt-to-EBITDA is 10.98 as of Mar. 2026, which is 18% above its 10-year median of 9.30. GuruFocus rates LTS:0LR2 with a GF Score™ of 76/100 and a GF Value™ of $32.71 (Modestly Overvalued). The stock has 9 warning signs investors should review. Among 578 REITs companies, Vornado Realty Trust ranks better than 64.01% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for Vornado Realty Trust's Debt-to-EBITDA or its related term are showing as below:
LTS:0LR2'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 1.91 Med: 9.3 Max: 38.33
Current: 5.13
During the past 13 years, the highest Debt-to-EBITDA Ratio of Vornado Realty Trust was 38.33. The lowest was 1.91. And the median was 9.30.
LTS:0LR2's Debt-to-EBITDA is ranked better than 64.01% of 578
companies
in the REITs industry
Industry Median: 6.51
vs LTS:0LR2: 5.13
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
Vornado Realty Trust Debt-to-EBITDA Related Terms
Vornado Realty Trust Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Vornado Realty Trust's Debt-to-EBITDA 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.
LTS:0LR2 vs ARE, CUZ, KRC: Debt-to-EBITDA Comparison
For the REIT - Office subindustry, Vornado Realty Trust's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA 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 Debt-to-EBITDA vs REITs Industry
For the REITs industry and Real Estate sector, Vornado Realty Trust's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Vornado Realty Trust's Debt-to-EBITDA falls into.
* 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.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Mar. 2026) EBITDA data.
Vornado Realty Trust (LTS:0LR2) has a Debt-to-EBITDA of 10.98 as of Mar. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Vornado Realty Trust. This is 18% above median its historical median of 9.30. Over the past decade, Vornado Realty Trust's Debt-to-EBITDA has ranged from 1.91 to 38.33. According to the industry distribution chart, Vornado Realty Trust ranks #208 out of 578 companies in the REITs industry, placing it in the top 36%.
Is Vornado Realty Trust's Debt-to-EBITDA too high?
Vornado Realty Trust's current Debt-to-EBITDA of 10.98 is 18% above median its 10-year median of 9.30. Over the past 10 years, this metric has ranged from a low of 1.91 to a high of 38.33. The REITs industry median Debt-to-EBITDA is 6.51. Vornado Realty Trust's value of 10.98 is 68.7% above this industry median. Based on the distribution chart, Vornado Realty Trust ranks #208 out of 578 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 Debt-to-EBITDA compare to ARE and CUZ?
According to the REITs industry distribution chart, Vornado Realty Trust ranks #208 out of 578 companies for Debt-to-EBITDA. This puts Vornado Realty Trust in the upper half of its industry. The industry median Debt-to-EBITDA is 6.51. Vornado Realty Trust's value of 10.98 is 68.7% above this benchmark. Historically, Vornado Realty Trust's own Debt-to-EBITDA has ranged from 1.91 to 38.33 over the past decade. While the company's 10-year median is 9.30 vs. the industry median of 6.51, Vornado Realty Trust has consistently been above 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 Debt-to-EBITDA for a REITs company?
The median Debt-to-EBITDA among REITs companies is 6.51, based on 578 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Vornado Realty Trust's current Debt-to-EBITDA of 10.98 is 68.7% above 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 Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Vornado Realty Trust. For the REITs industry, the median Debt-to-EBITDA is 6.51 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Vornado Realty Trust's current Debt-to-EBITDA is 10.98, which is 18% above median its own 10-year median of 9.30. 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 $32.71, compared to a current price of $39.02 — trading 19.3% above its estimated fair value. The current Debt-to-EBITDA is 10.98, which is 18% above median its 10-year median of 9.30 and 68.7% above the REITs industry median of 6.51. Vornado Realty Trust's overall GF Score™ is 76/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For Vornado Realty Trust (LTS:0LR2), the current Debt-to-EBITDA is 10.98 as of Mar. 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 $39.02 is trading 19.3% above its estimated GF Value™ of $32.71.
GuruFocus considers Vornado Realty Trust to be Modestly Overvalued.
Key valuation signals for LTS:0LR2:
Debt-to-EBITDA: 10.98 (18% above median its 10-year median of 9.30)
GF Value™: $32.71 vs. price of $39.02 (19.3% above fair value)
Industry Position: 68.7% above the REITs median (#208 of 578)
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
Get the complete analysis for LTS:0LR2
Debt-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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