VNO - NYSE

Vornado Realty Trust

Vornado Realty Trust

VNOยทNYSE

$34.00

+1.3%
Real EstateREIT - Office

Vornado's portfolio is concentrated in the nation's key market New York City along with the premier asset in both Chicago and San Francisco. Vornado is also the real estate industry leader in sustainability policy. The company owns and manages over 23 million square feet of LEED certified buildings and received the Energy Star Partner of the Year Award, Sustained Excellence 2019. In 2012, Vornado commemorated 50 years on the NYSE.

StatementsValue Model

At a Glance

Live Snapshot
Market Cap$6.40B
EPS4.4000
P/E Ratio7.73
Earnings Date08/03/2026
Vornado Realty Trust

Vornado Realty Trust Fair Value Envelope

VNO ยท NYSE

Our analysis suggests that VNO has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $34, this represents a potential HIDDEN relative to our calculated worth for Vornado Realty Trust.

HIDDEN
Intrinsic Value
Current Price: $34

Owner Earnings Valuation Tool

Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation

Historical Financial Data

Base year metrics used for projections

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%
$
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Projection Settings

Forecast period and terminal assumptions

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DCF Valuation Summary

Calculation flow from present value to intrinsic value per share

Present Value$11,441.5B
+ Cash & Equivalents$840.9M
Firm Value$11,442.3B
- Debt$7.9B
Equity Value$11,434.5B
/ Shares Outstanding192,054,832B
DCF Value$59.5K
UNDERVALUED BY 175010%

Owner Earnings Projections

Operating Cash Flow - Maintenance CapEx = Owner Earnings

Metric
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
Operating Cash Flow
$2.5B
$5.0B
$10.1B
$20.1B
$40.3B
$80.5B
$161.1B
$322.1B
$644.3B
$1,288.6B
Maintenance CapEx
-$0
-$0
-$0
-$0
-$0
-$0
-$0
-$0
-$0
-$0
Owner Earnings
$2.5B
$5.0B
$10.1B
$20.1B
$40.3B
$80.5B
$161.1B
$322.1B
$644.3B
$1,288.6B
Discount Factor
0.926
0.857
0.794
0.735
0.681
0.630
0.583
0.540
0.500
0.463
Present Value
$2.3B
$4.3B
$8.0B
$14.8B
$27.4B
$50.8B
$94.0B
$174.0B
$322.3B
$596.9B
Terminal Value represents 88.7% of Enterprise Value

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