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Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company. The details of how we calculate the intrinsic value of stocks are described in detail here.
As of today (2024-05-14), Vornado Realty Trust's Intrinsic Value: Projected FCF is $49.63. The stock price of Vornado Realty Trust is $25.40. Therefore, Vornado Realty Trust's Price-to-Intrinsic-Value-Projected-FCF of today is 0.5.
The historical rank and industry rank for Vornado Realty Trust's Intrinsic Value: Projected FCF or its related term are showing as below:
During the past 13 years, the highest Price-to-Intrinsic-Value-Projected-FCF of Vornado Realty Trust was 1.31. The lowest was 0.30. And the median was 0.97.
The historical data trend for Vornado Realty Trust's Intrinsic Value: Projected FCF 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 Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Intrinsic Value: Projected FCF | Get a 7-Day Free Trial | 67.55 | 58.30 | 56.92 | 55.31 | 50.87 |
Vornado Realty Trust Quarterly Data | ||||||||||||||||||||
Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | |
Intrinsic Value: Projected FCF | Get a 7-Day Free Trial | 52.06 | 51.31 | 52.50 | 50.87 | 49.63 |
For the REIT - Office subindustry, Vornado Realty Trust's Price-to-Projected-FCF, along with its competitors' market caps and Price-to-Projected-FCF 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.
For the REITs industry and Real Estate sector, Vornado Realty Trust's Price-to-Projected-FCF distribution charts can be found below:
* The bar in red indicates where Vornado Realty Trust's Price-to-Projected-FCF falls into.
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company.
The details of how we calculate the intrinsic value of stocks are described in detail here.
This method smooths out the free cash flow over the past 6-7 years, multiplies the results by a growth multiple, and adds a portion of Total Stockholders Equity.
Intrinsic Value: Projected FCF = ( Growth Multiple * Free Cash Flow (6 year avg) + 0.8 * Total Stockholders Equity (most recent) ) / Shares Outstanding (Diluted Average)
In the case of negative Total Stockholders Equity, the following formula is used (see Explanation section below for the reason):
Intrinsic Value: Projected FCF = ( Growth Multiple * Free Cash Flow (6 year avg) + Total Stockholders Equity (most recent) / 0.8 ) / Shares Outstanding (Diluted Average)
Add all the Free Cash Flow together and divide 6 will get Vornado Realty Trust's Free Cash Flow(6 year avg) = $527.33.
Vornado Realty Trust's Intrinsic Value: Projected FCF for today is calculated as
Intrinsic Value: Projected FCF | = | (Growth Multiple | * | Free Cash Flow (6 year avg) | + | Total Stockholders Equity (Mar24) | * | 0.8) | / | Shares Outstanding (Diluted Average) |
= | (9.5203515959648 | * | 527.33136 | + | 5539.087 | * | 0.8) | / | 190.429 | |
= | 49.63 |
* 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 (NYSE:VNO) Intrinsic Value: Projected FCF Explanation
The growth multiple is capped between 8.35 and 17.74.
Total Stockholders Equity weighting is more art than science and it should always be revisited in more detail when researching a company. Weightings from 0% to 100% to more than 100% are possible. 80% was chosen as a happy median after taking the above ideas into consideration.
Vornado Realty Trust's Price-to-Intrinsic-Value-Projected-FCF for today is calculated as
Price-to-Intrinsic-Value-Projected-FCF | = | Share Price | / | Intrinsic Value: Projected FCF |
= | 25.40 | / | 49.633456851521 | |
= | 0.51 |
* 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.
Thank you for viewing the detailed overview of Vornado Realty Trust's Intrinsic Value: Projected FCF provided by GuruFocus.com. Please click on the following links to see related term pages.
Michael D Fascitelli | director, officer: President | MDF CAPITAL, 888 7TH AVENUE, 27TH FLOOR, NEW YORK NY 10019 |
Wight Russell B Jr | director | |
Raymond J Mcguire | director | 5 GIRALDA FARMS, MADISON NJ 07940 |
Deirdre K. Maddock | officer: SVP - Chief Accounting Officer | 210 ROUTE 4 EAST, 210 W RTE 4 EAST, PARAMUS NJ 07652 |
Beatrice Hamza Bassey | director | 2188 LEDGE ROCK LANE, HENDERSON NV 89052 |
William W Helman | director | GREYLOCK, 880 WINTER ST SUITE 300, WALTHAM MA 02451 |
Barry Langer | officer: EVP - Dev. Co-Head of R.E. | C/O VORNADO REALTY TRUST, 888 7TH AVENUE, NEW YORK NY 10019 |
Glen J. Weiss | officer: EVP- Off Leasing Co- Head R.E. | C/O VORNADO REALTY TRUST, 888 7TH AVENUE, NEW YORK NY 10019 |
Haim Chera | officer: EVP- Head of Retail | C/O VORNADO REALTY TRUST, 888 7TH AVENUE, NEW YORK NY 10019 |
Joseph Macnow | officer: Exec. VP--Finance, CFO | |
Matthew Iocco | officer: EVP - Principal Accounting Off | 888 7TH AVENUE, NEW YORK NY 10019 |
Mitchell N Schear | officer: President - Smith Division | |
Mandakini Puri | director | C/O VALIDUS HOLDINGS, 48 PAR-LA-VILLE ROAD, SUITE 1790, HAMILTON HM11 D0 HM11 |
Daniel R Tisch | director | 460 PARK AVENUE, NEW YORK NY 10022 |
Wendy Silverstein | officer: Exec VP-Capital Markets |
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