Think of Enterprise Value as the theoretical takeover price. It is more comprehensive than market capitalization (Market Cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
EV-to-EBIT is calculated as Enterprise Value divided by its EBIT. As of today, Vornado Realty Trust's Enterprise Value is $16,562 Mil.
Vornado Realty Trust's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 was $1,155 Mil. Therefore, Vornado Realty Trust's EV-to-EBIT ratio for today is 14.34.
EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA. As of today, Vornado Realty Trust's Enterprise Value is $16,562 Mil.
Vornado Realty Trust's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 was $1,639 Mil. Therefore, Vornado Realty Trust's EV-to-EBITDA ratio for today is 10.10.
*** Please note that the current Enterprise Value is calculated using the current market capitalization and the most recently available financial data. If key financial fields—Long-Term Debt & Capital Lease Obligation and Short-Term Debt & Capital Lease Obligation—are recorded as null in the latest reporting period, our data vendor will default to using data from the prior period with valid entries.
Vornado Realty Trust (NYSE:VNO) Enterprise Value Explanation
When an investor buy a company, the investor needs to pay not only the common shares, he/she also needs to pay the shareholders of Preferred Stocks. He also assumes the debt of the company, and receives the cash on the company's balance sheet.
If a company has more cash than debt, the investor actually pays less than the Market Cap because he immediately owns the cash once the transaction goes through.
The market value of Preferred Stock needs to be added to the market value of common stocks in the calculation of Enterprise Value.
For the companies with the same Market Cap, the smaller the Enterprise Value is, the cheaper the company is.
Enterprise Value can be negative when the company's net cash is more than its Market Cap. In this case the investor is basically getting the company for free and get paid for that.
1. EV-to-EBIT is calculated as Enterprise Value divided by its EBIT.
Vornado Realty Trust's current Enterprise Value is $16,562 Mil.
Vornado Realty Trust's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,155 Mil.
2. EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA.
Vornado Realty Trust's current Enterprise Value is $16,562 Mil.
Vornado Realty Trust's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,639 Mil.
Vornado Realty Trust's current Enterprise Value is $16,562 Mil.
Vornado Realty Trust's Revenue for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,808 Mil.
Vornado Realty Trust's current Enterprise Value is $16,562 Mil.
Vornado Realty Trust's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,254 Mil.
Vornado Realty Trust's current Enterprise Value is $16,562 Mil.
Vornado Realty Trust's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,254 Mil.
* 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 Enterprise Value Related Terms
Vornado Realty Trust Enterprise Value Historical Data
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The historical data trend for Vornado Realty Trust's Enterprise Value 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.
For the REIT - Office subindustry, Vornado Realty Trust's Enterprise Value, along with its competitors' market caps and Enterprise Value 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 Enterprise Value vs REITs Industry
For the REITs industry and Real Estate sector, Vornado Realty Trust's Enterprise Value distribution charts can be found below:
* The bar in red indicates where Vornado Realty Trust's Enterprise Value falls into.
Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
Vornado Realty Trust's Enterprise Value for the fiscal year that ended in Dec. 2025 is calculated as
* 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 (VNO) has a Enterprise Value of $16,562 Mil as of Jun. 27, 2026. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on Vornado Realty Trust and its competitors.
Is Vornado Realty Trust's Enterprise Value too high?
Vornado Realty Trust's current Enterprise Value is $16,562 Mil. Overall, Vornado Realty Trust has a GF Score™ of 77/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Vornado Realty Trust's Enterprise Value compare to CUZ and ARE?
Vornado Realty Trust's Enterprise Value of $16,562 Mil can be compared against companies in the REITs industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Enterprise Value for a REITs company?
A good Enterprise Value depends on the REITs industry context. However, Enterprise Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Enterprise Value mean?
A high Enterprise Value can signal that a stock is expensive relative to its fundamentals. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on Vornado Realty Trust and its competitors. Vornado Realty Trust's current Enterprise Value is $16,562 Mil. 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 (VNO) is currently considered Modestly Overvalued. The stock's GF Value™ is $32.08, compared to a current price of $39.11 — trading 21.9% above its estimated fair value. The current Enterprise Value is $16,562 Mil. Vornado Realty Trust's overall GF Score™ is 77/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Enterprise Value calculated?
Enterprise Value is calculated from a company's financial statements. For Vornado Realty Trust (VNO), the current Enterprise Value is $16,562 Mil as of Jun. 27, 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 (VNO) Overvalued in 2026?
Based on GuruFocus' analysis, Vornado Realty Trust stock appears to be overvalued.
The current stock price of $39.11 is trading 21.9% above its estimated GF Value™ of $32.08.
GuruFocus considers Vornado Realty Trust to be Modestly Overvalued.
Key valuation signals for VNO:
Enterprise Value: $16,562 Mil
GF Value™: $32.08 vs. price of $39.11 (21.9% above fair value)
No single metric tells the full story. See the VNO 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.
77GF Score
Get the complete analysis for VNO
Enterprise Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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