VNA Stock Analysis: Vonovia SE | XETRA
Real Estate Services | XETRA, Germany | Market Cap: 17.478m EUR | 12M Return: -24.4% | DE000A1ML7J1 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 49.2M
EPS Trend: 80.7%
Qual. Beats: 0
Rev. Trend: 78.0%
Qual. Beats: 5
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Vonovia SE is a large-cap European residential real estate company headquartered in Bochum, Germany. Founded in 1998 and originally known as Deutsche Annington Immobilien SE, the company adopted its current name in August 2015. It is classified within the Real Estate Operating Companies sub-industry under the GICS framework.
The company operates through four business segments: Rental, Value-Add, Recurring Sales, and Development. Its core activities include property management and property-related services such as maintenance, modernization, craftsmen services, residential environment organization, multimedia, energy supply, metering, condominium administration, and insurance. Vonovia also sells individual condominiums and single-family houses through its Recurring Sales segment.
The Development segment engages in project development activities, including construction of owner-occupied and rented apartments, sale of projects to investors, and construction of new properties on existing portfolio land. As a vertically integrated residential operator, Vonovia manages properties across the full lifecycle from acquisition and development through rental management and disposal, a model characteristic of large European residential landlords operating in markets with regulated housing stock.
- ECB rate cuts ease Vonovias massive refinancing burden
- German rent regulation caps limit rental income growth
- Recurring Sales segment weakens on subdued housing demand
| Net Income: 3.87b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -2.23 > 1.0 |
| NWC/Revenue: -23.73% < 20% (prev -30.69%; Δ 6.96% < -1%) |
| CFO/TA 0.01 > 3% & CFO 1.24b > Net Income 3.87b |
| Net Debt (41.9b) to EBITDA (4.50b): 9.31 < 3 |
| Current Ratio: 0.64 > 1.5 & < 3 |
| Outstanding Shares: last quarter (909.6m) vs 12m ago 11.22% < -2% |
| Gross Margin: 57.03% > 18% (prev 35.46%; Δ 21.57% > 0.5%) |
| Asset Turnover: 6.95% > 50% (prev 7.30%; Δ -0.35% > 0%) |
| Interest Coverage Ratio: 5.03 > 6 (EBIT TTM 4.30b / Interest Expense TTM 854.7m) |
| A: -0.02 (Total Current Assets 2.70b - Total Current Liabilities 4.21b) / Total Assets 93.1b |
| B: 0.26 (Retained Earnings 24.0b / Total Assets 93.1b) |
| C: 0.05 (EBIT TTM 4.30b / Avg Total Assets 91.6b) |
| D: 0.44 (Book Value of Equity 27.2b / Total Liabilities 61.2b) |
| Altman-Z'' = 1.51 = BB |
| DSRI: 0.79 (Receivables 212.7m/280.0m, Revenue 6.37b/6.58b) |
| GMI: 0.62 (GM 35.46% / 57.03%) |
| AQI: 1.04 (AQ_t 0.96 / AQ_t-1 0.93) |
| SGI: 0.97 (Revenue 6.37b / 6.58b) |
| TATA: 0.03 (NI 3.87b - CFO 1.24b) / TA 93.1b) |
| Beneish M = -3.54 (Cap -4..+1) = AAA |
As of August 21, 2026, the stock is trading at EUR 19.99 with a total of 2,098,010 shares traded. Over the past week, the price has changed by -4.83%, over one month by -4.19%, over three months by -5.48% and over the past year by -24.36%.
Current recommended Stop Loss: 19.40 (which is 3% or 1.3 ATR below the current price).
Vonovia SE has no consensus analysts rating.
P/E Trailing = 4.6712
P/E Forward = 12.0627
P/S = 2.9299
P/B = 0.655
P/EG = 3.8932
Revenue TTM = 6.37b EUR
EBIT TTM = 4.30b EUR
EBITDA TTM = 4.50b EUR
Long Term Debt = 38.1b EUR (from longTermDebt, last quarter)
Short Term Debt = 4.35b EUR (from shortTermDebt, last quarter)
Debt = 43.7b EUR (from shortLongTermDebtTotal, last quarter) + Leases 818.4m
Net Debt = 41.9b EUR (calculated: Debt 43.7b - CCE 1.85b)
Enterprise Value = 59.4b EUR (17.5b + Debt 43.7b - CCE 1.85b)
Interest Coverage Ratio = 5.03 (Ebit TTM 4.30b / Interest Expense TTM 854.7m)
EV/FCF = 67.54x (Enterprise Value 59.4b / FCF TTM 878.8m)
FCF Yield = 1.48% (FCF TTM 878.8m / Enterprise Value 59.4b)
FCF Margin = 13.80% (FCF TTM 878.8m / Revenue TTM 6.37b)
Net Margin = 60.75% (Net Income TTM 3.87b / Revenue TTM 6.37b)
Gross Margin = 57.03% ((Revenue TTM 6.37b - Cost of Revenue TTM 2.74b) / Revenue TTM)
Gross Margin QoQ = 55.01% (prev 61.23%)
Tobins Q-Ratio = 0.64 (Enterprise Value 59.4b / Total Assets 93.1b)
Interest Expense / Debt = 1.95% (Interest Expense 854.7m / Debt 43.7b)
Taxrate = 36.17% (461.8m / 1.28b)
NOPAT = 2.75b (EBIT 4.30b * (1 - 36.17%))
Current Ratio = 0.64 (Total Current Assets 2.70b / Total Current Liabilities 4.21b)
Debt / Equity = 1.61 (Debt 43.7b / totalStockholderEquity, last quarter 27.2b)
Debt / EBITDA = 9.31 (Net Debt 41.9b / EBITDA 4.50b)
Debt / FCF = 47.65 (Net Debt 41.9b / FCF TTM 878.8m)
Total Stockholder Equity = 27.1b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.22% (Net Income 3.87b / Total Assets 93.1b)
RoE = 14.27% (Net Income TTM 3.87b / Total Stockholder Equity 27.1b)
RoCE = 6.60% (EBIT 4.30b / Capital Employed (Equity 27.1b + L.T.Debt 38.1b))
RoIC = 2.95% (NOPAT 2.75b / Invested Capital 92.9b)
WACC = 2.65% (E(17.5b)/V(61.2b) * Re(6.17%) + D(43.7b)/V(61.2b) * Rd(1.95%) * (1-Tc(0.36)))
Discount Rate = 6.17% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 78.42 | Cagr: 5.02%
[DCF] Terminal Value 73.10% ; FCFF base≈1.67b ; Y1≈1.47b ; Y5≈1.19b
[DCF] Fair Price = N/A (negative equity: EV 19.0b - Net Debt 41.9b = -22.8b; debt exceeds intrinsic value)
EPS Correlation: 80.67 | EPS CAGR: 111.4% | SUE: 0.07 | # QB: 0
Revenue Correlation: 77.96 | Revenue CAGR: 4.84% | SUE: 1.11 | # QB: 5
EPS current Quarter (2026-09-30): EPS=0.45 | Chg30d=-4.06% | Revisions=-25% | Analysts=1
EPS current Year (2026-12-31): EPS=1.77 | Chg30d=-2.12% | Revisions=+40% | GrowthEPS=-4.3% | GrowthRev=+2.9%
EPS next Year (2027-12-31): EPS=1.91 | Chg30d=-1.70% | Revisions=+0% | GrowthEPS=+7.7% | GrowthRev=+3.1%
[Analyst] Revisions Ratio: +12% (up=3, down=2)