VNA Stock Analysis: Vonovia SE | XETRA
Real Estate Services | XETRA, Germany | Market Cap: 14.275m EUR | 12M Return: -36.3% | DE000A1ML7J1 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 59.2M
EPS Trend: 80.7%
Qual. Beats: 0
Rev. Trend: 78.0%
Qual. Beats: 5
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 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 Germany-based integrated residential real estate company operating in Europe, headquartered in Bochum. The company manages a large portfolio of residential properties and offers a broad range of housing-related services, operating through four segments: Rental, Value-Add, Recurring Sales, and Development. Vonovia is one of the largest residential landlords in Germany and a major player in the European real estate sector, where large-scale operators focus on acquiring, managing, and upgrading urban apartment portfolios.
Beyond traditional property management, Vonovia provides value-added services such as maintenance, modernization, craftsmen, residential environment organization, multimedia, energy supply, metering, condominium administration, and insurance services. The residential property management industry increasingly bundles such ancillary services to strengthen tenant retention and generate additional revenue beyond rental income.
The company is also active across the real estate value chain, including the sale of individual condominiums and single-family houses, project development to build new homes, construction of owner-occupied and rented apartments, sale of projects to investors, and the construction of new properties on existing land in its portfolio. Originally founded in 1998 as Deutsche Annington Immobilien SE, the company adopted the Vonovia name in August 2015.
- Rent brake extension threatens German rental revenue growth
- Rising rates increase refinancing costs on debt portfolio
- Value-add modernization drives organic rental income growth
| 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 October 20, 2026, the stock is trading at EUR 16.57 with a total of 4,019,042 shares traded. Over the past week, the price has changed by +1.07%, over one month by -5.21%, over three months by -20.57% and over the past year by -36.26%.
Current recommended Stop Loss: 16.00 (which is 3.4% or 1.4 ATR below the current price).
Vonovia SE has no consensus analysts rating.
P/E Trailing = 3.8326
P/E Forward = 9.6339
P/S = 2.393
P/B = 0.5406
P/EG = 3.1066
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 = 56.1b EUR (14.3b + Debt 43.7b - CCE 1.85b)
Interest Coverage Ratio = 5.03 (Ebit TTM 4.30b / Interest Expense TTM 854.7m)
EV/FCF = 63.89x (Enterprise Value 56.1b / FCF TTM 878.8m)
FCF Yield = 1.57% (FCF TTM 878.8m / Enterprise Value 56.1b)
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 = 0.60 (Enterprise Value 56.1b / 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 = 2.41% (E(14.3b)/V(58.0b) * Re(5.96%) + D(43.7b)/V(58.0b) * Rd(1.95%) * (1-Tc(0.36)))
Discount Rate = 5.96% (= 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=1.75 | Chg30d=+0.17% | Revisions=+17% | GrowthEPS=-5.6% | GrowthRev=+2.9%
EPS next Year (2027-12-31): EPS=1.82 | Chg30d=-1.69% | Revisions=-50% | GrowthEPS=+4.1% | GrowthRev=+2.9%
[Analyst] Revisions Ratio: -30% (up=2, down=5)