Vornado Realty Trust

DB:VO7 Stock Report

Market Cap: €7.3b

Vornado Realty Trust Valuation

Is VO7 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of VO7 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
€34.89
Fair Value
0.9% undervalued intrinsic discount
14
Number of Analysts

Below Fair Value: VO7 (€34.59) is trading below our estimate of fair value (€34.89)

Significantly Below Fair Value: VO7 is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for VO7?

Key metric: As VO7 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for VO7. This is calculated by dividing VO7's market cap by their current earnings.
What is VO7's PE Ratio?
PE Ratio71.5x
EarningsUS$104.15m
Market CapUS$8.18b

Price to Earnings Ratio vs Peers

How does VO7's PE Ratio compare to its peers?

The above table shows the PE ratio for VO7 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average38.6x
8951 Nippon Building Fund
24xn/aJP¥1.1t
GFC Gecina
22.3x26.59%€6.9b
8952 Japan Real Estate Investment
21.6x-2.62%JP¥809.6b
CUZ Cousins Properties
86.5x7.76%US$4.7b
VO7 Vornado Realty Trust
71.5x-10.31%€8.2b

Price-To-Earnings vs Peers: VO7 is expensive based on its Price-To-Earnings Ratio (71.5x) compared to the peer average (38.6x).

Price to Earnings Ratio vs Industry

How does VO7's PE Ratio compare vs other companies in the Global Office REITs Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
VO7 71.5xIndustry Avg. 21.3xNo. of Companies11PE01020304050+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: VO7 is expensive based on its Price-To-Earnings Ratio (71.5x) compared to the Global Office REITs industry average (21.5x).

Price to Earnings Ratio vs Fair Ratio

What is VO7's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

VO7 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio71.5x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate VO7's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst VO7 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€34.59
€34.25
-0.97%
16.71%€42.71€24.91n/a14
May ’26€30.95
€33.89
+9.49%
17.12%€42.01€24.51n/a14
Apr ’26€34.88
€36.41
+4.40%
17.52%€44.49€25.95n/a14
Mar ’26€40.32
€37.47
-7.08%
21.22%€50.14€25.07n/a14
Feb ’26€41.56
€37.22
-10.44%
22.52%€50.60€25.30n/a14
Jan ’26€39.91
€36.18
-9.35%
22.20%€49.84€23.96n/a14
Dec ’25€40.50
€34.45
-14.93%
23.74%€46.69€22.63n/a14
Nov ’25€37.95
€31.45
-17.13%
18.91%€40.68€21.96n/a14
Oct ’25€35.44
€27.91
-21.25%
18.64%€37.62€21.27n/a14
Sep ’25€30.94
€26.22
-15.26%
19.80%€35.99€18.89n/a14
Aug ’25€27.04
€22.91
-15.29%
12.88%€27.77€17.58n/a14
Jul ’25€23.64
€22.91
-3.10%
12.88%€27.77€17.58n/a14
Jun ’25€22.56
€22.92
+1.59%
13.71%€28.54€17.49n/a14
May ’25€24.34
€23.92
-1.74%
11.61%€28.55€19.34€30.9514
Apr ’25€26.60
€23.37
-12.13%
13.64%€28.86€16.76€34.8814
Mar ’25€24.50
€23.35
-4.68%
15.80%€28.65€16.64€40.3213
Feb ’25€24.50
€23.61
-3.64%
15.22%€28.49€16.54€41.5613
Jan ’25€26.50
€22.02
-16.89%
17.30%€28.18€16.36€39.9113
Dec ’24€24.50
€19.47
-20.55%
21.27%€26.40€10.92€40.5013
Nov ’24€18.35
€19.70
+7.34%
24.74%€27.40€11.34€37.9513
Oct ’24€21.40
€19.63
-8.25%
27.13%€27.44€11.35€35.4412
Sep ’24€22.60
€16.98
-24.87%
28.78%€26.42€10.93€30.9411
Aug ’24€21.00
€14.82
-29.45%
34.17%€26.40€9.11€27.0411
Jul ’24€16.55
€15.43
-6.79%
33.50%€26.58€9.16€23.6412
Jun ’24€12.35
€15.80
+27.93%
32.22%€26.95€9.29€22.5613
May ’24€13.55
€17.21
+27.01%
36.46%€32.22€9.98€24.3414
AnalystConsensusTarget
Consensus Narrative from 14 Analysts
€34.30
Fair Value
0.8% overvalued intrinsic discount
14
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/05/20 04:00
End of Day Share Price 2025/05/20 00:00
Earnings2025/03/31
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Vornado Realty Trust is covered by 30 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jacob KilsteinArgus Research Company
Ross SmotrichBarclays
Brendan LynchBarclays