(VNA) Vonovia SE - Ratings and Ratios
Exchange: XETRA •
Country: Germany •
Currency: EUR •
Type: Common Stock •
ISIN: DE000A1ML7J1
Rental, Property, Sales, Development, Services
Dividends
| Dividend Yield | 4.79% |
| Yield on Cost 5y | 2.80% |
| Yield CAGR 5y | -24.80% |
| Payout Consistency | 87.7% |
| Payout Ratio | 40.9% |
| Risk via 10d forecast | |
|---|---|
| Volatility | 21.1% |
| Value at Risk 5%th | 31.6% |
| Relative Tail Risk | -8.98% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.65 |
| Alpha | -18.64 |
| CAGR/Max DD | 0.22 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.493 |
| Beta | -0.168 |
| Beta Downside | -0.357 |
| Drawdowns 3y | |
|---|---|
| Max DD | 44.47% |
| Mean DD | 14.01% |
| Median DD | 12.36% |
Description: VNA Vonovia SE October 16, 2025
Vonova SE is a pan-European residential real-estate operator that segments its activities into Rental, Value-Add, Recurring Sales, and Development. It generates revenue from property-management and ancillary services-such as maintenance, modernization, energy supply, and insurance-and from the sale of condominiums, single-family houses, and development projects. The company also offers a tenant-facing mobile app, My Vonova, to streamline service requests and document access.
As of FY 2023, Vonova managed roughly 530 k apartments across Germany, Austria, Sweden and Norway, with an occupancy rate consistently above 97 % and net rent growth of about 5 % YoY, driven by a tight rental market and limited new-construction supply. Its adjusted EBITDA margin hovered near 50 %, while net debt stood at roughly €55 bn, giving a debt-to-EBITDA leverage of ~ 4.5×-a level that makes the firm sensitive to rising interest rates, a key macro driver for the European REIT sector. Demographic trends, especially urbanisation and an ageing population, continue to underpin demand for rental housing, reinforcing Vonova’s growth outlook.
For a data-rich, independent assessment of Vonova’s valuation dynamics, you may find it useful to explore the company’s profile on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 3.0
| Net Income (2.80b TTM) > 0 and > 6% of Revenue (6% = 360.1m TTM) |
| FCFTA 0.03 (>2.0%) and ΔFCFTA 1.20pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue -27.07% (prev 33.73%; Δ -60.80pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.03 (>3.0%) and CFO 2.70b <= Net Income 2.80b (YES >=105%, WARN >=100%) |
| Net Debt (41.51b) to EBITDA (2.28b) ratio: 18.23 <= 3.0 (WARN <= 3.5) |
| Current Ratio 0.80 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (840.7m) change vs 12m ago 2.25% (target <= -2.0% for YES) |
| Gross Margin 32.53% (prev 52.21%; Δ -19.68pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 6.57% (prev 6.63%; Δ -0.06pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 2.15 (EBITDA TTM 2.28b / Interest Expense TTM 856.8m) >= 6 (WARN >= 3) |
Altman Z'' 1.21
| (A) -0.02 = (Total Current Assets 6.51b - Total Current Liabilities 8.14b) / Total Assets 91.73b |
| (B) 0.25 = Retained Earnings (Balance) 22.54b / Total Assets 91.73b |
| (C) 0.02 = EBIT TTM 1.85b / Avg Total Assets 91.38b |
| (D) 0.37 = Book Value of Equity 22.54b / Total Liabilities 60.17b |
| Total Rating: 1.21 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 62.10
| 1. Piotroski 3.0pt |
| 2. FCF Yield 4.35% |
| 3. FCF Margin 45.06% |
| 4. Debt/Equity 1.66 |
| 5. Debt/Ebitda 18.23 |
| 6. ROIC - WACC (= 0.47)% |
| 7. RoE 11.30% |
| 8. Rev. Trend 49.80% |
| 9. EPS Trend 7.80% |
What is the price of VNA shares?
As of December 04, 2025, the stock is trading at EUR 25.49 with a total of 1,785,681 shares traded.
Over the past week, the price has changed by -3.01%, over one month by +0.31%, over three months by -2.37% and over the past year by -15.35%.
Over the past week, the price has changed by -3.01%, over one month by +0.31%, over three months by -2.37% and over the past year by -15.35%.
Is VNA a buy, sell or hold?
Vonovia SE has no consensus analysts rating.
What are the forecasts/targets for the VNA price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 35.1 | 37.8% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 25.4 | -0.5% |
VNA Fundamental Data Overview November 25, 2025
Market Cap USD = 25.55b (21.90b EUR * 1.1666 EUR.USD)
Market Cap EUR = 21.90b (21.90b EUR * 1.0 EUR.EUR)
P/E Trailing = 8.065
P/E Forward = 12.5786
P/S = 2.9163
P/B = 0.8396
P/EG = 14.7462
Beta = 1.391
Revenue TTM = 6.00b EUR
EBIT TTM = 1.85b EUR
EBITDA TTM = 2.28b EUR
Long Term Debt = 37.45b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 5.08b EUR (from shortTermDebt, last fiscal year)
Debt = 43.21b EUR (from shortLongTermDebtTotal, last fiscal year)
Net Debt = 41.51b EUR (from netDebt column, last fiscal year)
Enterprise Value = 62.10b EUR (21.90b + Debt 43.21b - CCE 3.01b)
Interest Coverage Ratio = 2.15 (Ebit TTM 1.85b / Interest Expense TTM 856.8m)
FCF Yield = 4.35% (FCF TTM 2.70b / Enterprise Value 62.10b)
FCF Margin = 45.06% (FCF TTM 2.70b / Revenue TTM 6.00b)
Net Margin = 46.63% (Net Income TTM 2.80b / Revenue TTM 6.00b)
Gross Margin = 32.53% ((Revenue TTM 6.00b - Cost of Revenue TTM 4.05b) / Revenue TTM)
Gross Margin QoQ = 59.41% (prev 50.22%)
Tobins Q-Ratio = 0.68 (Enterprise Value 62.10b / Total Assets 91.73b)
Interest Expense / Debt = 0.37% (Interest Expense 160.7m / Debt 43.21b)
Taxrate = -433.8% (out of range, set to none) (-2.06b / 475.2m)
NOPAT = unknown (EBIT/Op.Income or Taxrate missing)
Current Ratio = 0.80 (Total Current Assets 6.51b / Total Current Liabilities 8.14b)
Debt / Equity = 1.66 (Debt 43.21b / totalStockholderEquity, last quarter 26.08b)
Debt / EBITDA = 18.23 (Net Debt 41.51b / EBITDA 2.28b)
Debt / FCF = 15.35 (Net Debt 41.51b / FCF TTM 2.70b)
Total Stockholder Equity = 24.76b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.05% (Net Income 2.80b / Total Assets 91.73b)
RoE = 11.30% (Net Income TTM 2.80b / Total Stockholder Equity 24.76b)
RoCE = 2.97% (EBIT 1.85b / Capital Employed (Equity 24.76b + L.T.Debt 37.45b))
RoIC = 2.29% (EBIT 1.85b / (Assets 91.73b - Curr.Liab 8.14b - Cash 3.01b))
WACC = 1.82% (E(21.90b)/V(65.11b) * Re(5.40%) + (debt cost/tax rate unavailable))
Discount Rate = 5.40% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: 100.0 | Cagr: 1.59%
[DCF Debug] Terminal Value 81.20% ; FCFE base≈2.26b ; Y1≈2.74b ; Y5≈4.50b
Fair Price DCF = 91.22 (DCF Value 76.69b / Shares Outstanding 840.7m; 5y FCF grow 22.74% → 3.0% )
EPS Correlation: 7.80 | EPS CAGR: 40.36% | SUE: 4.0 | # QB: 1
Revenue Correlation: 49.80 | Revenue CAGR: 2.87% | SUE: 0.67 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.49 | Chg30d=+0.025 | Revisions Net=+1 | Analysts=1
EPS next Year (2026-12-31): EPS=1.97 | Chg30d=+0.003 | Revisions Net=+1 | Growth EPS=+2.2% | Growth Revenue=+2.1%
Market Cap EUR = 21.90b (21.90b EUR * 1.0 EUR.EUR)
P/E Trailing = 8.065
P/E Forward = 12.5786
P/S = 2.9163
P/B = 0.8396
P/EG = 14.7462
Beta = 1.391
Revenue TTM = 6.00b EUR
EBIT TTM = 1.85b EUR
EBITDA TTM = 2.28b EUR
Long Term Debt = 37.45b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 5.08b EUR (from shortTermDebt, last fiscal year)
Debt = 43.21b EUR (from shortLongTermDebtTotal, last fiscal year)
Net Debt = 41.51b EUR (from netDebt column, last fiscal year)
Enterprise Value = 62.10b EUR (21.90b + Debt 43.21b - CCE 3.01b)
Interest Coverage Ratio = 2.15 (Ebit TTM 1.85b / Interest Expense TTM 856.8m)
FCF Yield = 4.35% (FCF TTM 2.70b / Enterprise Value 62.10b)
FCF Margin = 45.06% (FCF TTM 2.70b / Revenue TTM 6.00b)
Net Margin = 46.63% (Net Income TTM 2.80b / Revenue TTM 6.00b)
Gross Margin = 32.53% ((Revenue TTM 6.00b - Cost of Revenue TTM 4.05b) / Revenue TTM)
Gross Margin QoQ = 59.41% (prev 50.22%)
Tobins Q-Ratio = 0.68 (Enterprise Value 62.10b / Total Assets 91.73b)
Interest Expense / Debt = 0.37% (Interest Expense 160.7m / Debt 43.21b)
Taxrate = -433.8% (out of range, set to none) (-2.06b / 475.2m)
NOPAT = unknown (EBIT/Op.Income or Taxrate missing)
Current Ratio = 0.80 (Total Current Assets 6.51b / Total Current Liabilities 8.14b)
Debt / Equity = 1.66 (Debt 43.21b / totalStockholderEquity, last quarter 26.08b)
Debt / EBITDA = 18.23 (Net Debt 41.51b / EBITDA 2.28b)
Debt / FCF = 15.35 (Net Debt 41.51b / FCF TTM 2.70b)
Total Stockholder Equity = 24.76b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.05% (Net Income 2.80b / Total Assets 91.73b)
RoE = 11.30% (Net Income TTM 2.80b / Total Stockholder Equity 24.76b)
RoCE = 2.97% (EBIT 1.85b / Capital Employed (Equity 24.76b + L.T.Debt 37.45b))
RoIC = 2.29% (EBIT 1.85b / (Assets 91.73b - Curr.Liab 8.14b - Cash 3.01b))
WACC = 1.82% (E(21.90b)/V(65.11b) * Re(5.40%) + (debt cost/tax rate unavailable))
Discount Rate = 5.40% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: 100.0 | Cagr: 1.59%
[DCF Debug] Terminal Value 81.20% ; FCFE base≈2.26b ; Y1≈2.74b ; Y5≈4.50b
Fair Price DCF = 91.22 (DCF Value 76.69b / Shares Outstanding 840.7m; 5y FCF grow 22.74% → 3.0% )
EPS Correlation: 7.80 | EPS CAGR: 40.36% | SUE: 4.0 | # QB: 1
Revenue Correlation: 49.80 | Revenue CAGR: 2.87% | SUE: 0.67 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.49 | Chg30d=+0.025 | Revisions Net=+1 | Analysts=1
EPS next Year (2026-12-31): EPS=1.97 | Chg30d=+0.003 | Revisions Net=+1 | Growth EPS=+2.2% | Growth Revenue=+2.1%