Company Valuation: Vornado Realty Trust

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 8,024 3,992 5,377 8,015 6,392 7,282 - -
Change - -50.25% 34.69% 49.07% -20.25% 13.93% - -
Enterprise Value (EV) 1 14,879 11,491 12,631 15,524 12,736 15,741 15,282 15,395
Change - -22.77% 9.92% 22.9% -17.96% 23.59% -2.92% 0.74%
P/E 79x -9.77x 123x 1,051x 7.92x -156x 244x 300x
PBR 1.23x 0.68x 1.06x 1.56x 1.06x 1.35x 1.43x 1.51x
PEG - 0x -1x -12.7x 0x 1x -1x -16x
Capitalization / Revenue 5.05x 2.22x 2.97x 4.48x 3.53x 3.9x 3.61x 3.4x
EV / Revenue 9.36x 6.38x 6.97x 8.68x 7.04x 8.42x 7.58x 7.19x
EV / EBITDA 23x 14.3x 17.3x 22.2x 17.6x 20.1x 17.8x 15.3x
EV / EBIT 63.3x 38.6x 51.3x 63.1x 49.2x 75.1x 60.2x 55.6x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 2.12 2.12 0.675 0.74 0.74 0.7514 0.9333 1.092
Rate of return 5.06% 10.2% 2.39% 1.76% 2.22% 1.93% 2.39% 2.8%
EPS 2 0.53 -2.13 0.23 0.04 4.2 -0.25 0.16 0.13
Distribution rate 400% -99.5% 293% 1,850% 17.6% -301% 583% 840%
Net sales 1 1,589 1,800 1,811 1,788 1,810 1,869 2,016 2,140
EBITDA 1 647.5 802 731 698.7 723.4 783.7 856.2 1,008
EBIT 1 235.2 297.5 246 246 258.7 209.7 253.8 276.6
Net income 1 101.1 -408.6 43.38 8.275 842.9 -58.64 4.303 2.584
Net Debt 1 6,856 7,499 7,254 7,509 6,345 8,459 7,999 8,112
Reference price 2 41.86 20.81 28.25 42.04 33.28 39.00 39.00 39.00
Nbr of stocks (in thousands) 191,681 191,817 190,322 190,649 192,055 186,721 - -
Announcement Date 2/14/22 2/13/23 2/12/24 2/10/25 2/9/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-156x8.42x20.08x1.93% 7.28B
40.38x15.8x16.14x5.2% 59.18B
16.95x23.57x28.48x3.4% 17.61B
8.99x12.5x14.84x5.33% 17.31B
20.46x16.99x24.39x4.93% 15.12B
10.49x13.89x16.52x5.07% 12.89B
9.45x21.61x29.24x2.94% 10.4B
28.14x11.17x17.54x3.85% 10.29B
15.54x12x18.66x6.19% 9.53B
26.8x7.22x11.75x5.98% 8.39B
Average 2.12x 14.32x 19.76x 4.48% 16.8B
Weighted average by Cap. 17.34x 15.35x 19.06x 4.72%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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