(VNA) Vonovia SE - Ratings and Ratios
Exchange: XETRA •
Country: Germany •
Currency: EUR •
Type: Common Stock •
ISIN: DE000A1ML7J1
Rental, Property, Management, Sales, Development
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 4.22% |
| Yield on Cost 5y | 2.82% |
| Yield CAGR 5y | -2.32% |
| Payout Consistency | 92.0% |
| Payout Ratio | 40.9% |
| Risk via 5d forecast | |
|---|---|
| Volatility | 23.0% |
| Value at Risk 5%th | 34.6% |
| Relative Tail Risk | -8.72% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.38 |
| Alpha | -13.02 |
| CAGR/Max DD | 0.03 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.527 |
| Beta | -0.168 |
| Beta Downside | -0.333 |
| Drawdowns 3y | |
|---|---|
| Max DD | 41.45% |
| Mean DD | 13.72% |
| Median DD | 12.55% |
Description: VNA Vonovia SE December 19, 2025
Vonova SE is an integrated European residential real-estate firm that structures its business across four core segments – Rental, Value-Add, Recurring Sales, and Development – allowing it to generate cash flow from long-term leases while also capitalising on property upgrades and new-build projects.
The company’s service portfolio spans traditional property management (maintenance, modernisation, and condominium administration) and ancillary offerings such as cable TV, metering, energy supply, and insurance. Its “My Vonovia” mobile app centralises tenant requests, appointment scheduling, and document access, reflecting a broader industry push toward digital tenant engagement.
Key recent metrics (FY 2023) include a portfolio of roughly 425,000 apartments, an occupancy rate of 96 %, and net rent income of €4.9 billion – a 5 % YoY increase driven largely by rent-growth in Germany’s tight housing market. The business is sensitive to European interest-rate trends and regulatory rent-cap discussions, both of which can materially affect financing costs and pricing power.
For a data-driven deep-dive into Vonova’s valuation drivers and scenario analysis, the ValueRay platform provides a ready-made analytical view that can help you test assumptions and quantify risk.
Piotroski VR‑10 (Strict, 0-10) 3.5
| Net Income: 2.80b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA 0.77 > 1.0 |
| NWC/Revenue: -25.21% < 20% (prev 33.73%; Δ -58.94% < -1%) |
| CFO/TA 0.03 > 3% & CFO 2.55b > Net Income 2.80b |
| Net Debt (40.04b) to EBITDA (2.42b): 16.52 < 3 |
| Current Ratio: 0.80 > 1.5 & < 3 |
| Outstanding Shares: last quarter (837.6m) vs 12m ago 1.87% < -2% |
| Gross Margin: 36.72% > 18% (prev 0.52%; Δ 3620 % > 0.5%) |
| Asset Turnover: 7.05% > 50% (prev 6.63%; Δ 0.42% > 0%) |
| Interest Coverage Ratio: 2.29 > 6 (EBITDA TTM 2.42b / Interest Expense TTM 856.8m) |
Altman Z'' 1.23
| A: -0.02 (Total Current Assets 6.51b - Total Current Liabilities 8.14b) / Total Assets 91.73b |
| B: 0.25 (Retained Earnings 22.54b / Total Assets 91.73b) |
| C: 0.02 (EBIT TTM 1.96b / Avg Total Assets 91.38b) |
| D: 0.38 (Book Value of Equity 23.14b / Total Liabilities 60.17b) |
| Altman-Z'' Score: 1.23 = BB |
Beneish M -2.30
| DSRI: 1.33 (Receivables 294.9m/207.2m, Revenue 6.45b/6.03b) |
| GMI: 1.42 (GM 36.72% / 52.21%) |
| AQI: 1.03 (AQ_t 0.92 / AQ_t-1 0.90) |
| SGI: 1.07 (Revenue 6.45b / 6.03b) |
| TATA: 0.00 (NI 2.80b - CFO 2.55b) / TA 91.73b) |
| Beneish M-Score: -2.30 = BBB |
ValueRay F-Score (Strict, 0-100) 64.83
| 1. Piotroski: 3.50pt |
| 2. FCF Yield: 3.77% |
| 3. FCF Margin: 35.92% |
| 4. Debt/Equity: 1.65 |
| 5. Debt/Ebitda: 16.52 |
| 6. ROIC - WACC: 1.27% |
| 7. RoE: 11.30% |
| 8. Revenue Trend: 70.09% |
| 9. EPS Trend: 7.80% |
What is the price of VNA shares?
As of January 23, 2026, the stock is trading at EUR 24.23 with a total of 3,340,148 shares traded.
Over the past week, the price has changed by -4.79%, over one month by +0.83%, over three months by -13.28% and over the past year by -10.09%.
Over the past week, the price has changed by -4.79%, over one month by +0.83%, over three months by -13.28% and over the past year by -10.09%.
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 | 34.6 | 42.6% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 25.1 | 3.8% |
VNA Fundamental Data Overview January 18, 2026
Market Cap USD = 24.98b (21.40b EUR * 1.1673 EUR.USD)
P/E Trailing = 7.8111
P/E Forward = 12.2399
P/S = 2.8491
P/B = 0.8203
P/EG = 14.7462
Revenue TTM = 6.45b EUR
EBIT TTM = 1.96b EUR
EBITDA TTM = 2.42b EUR
Long Term Debt = 36.42b EUR (from longTermDebt, last quarter)
Short Term Debt = 6.15b EUR (from shortTermDebt, last quarter)
Debt = 43.05b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 40.04b EUR (from netDebt column, last quarter)
Enterprise Value = 61.44b EUR (21.40b + Debt 43.05b - CCE 3.01b)
Interest Coverage Ratio = 2.29 (Ebit TTM 1.96b / Interest Expense TTM 856.8m)
EV/FCF = 26.54x (Enterprise Value 61.44b / FCF TTM 2.32b)
FCF Yield = 3.77% (FCF TTM 2.32b / Enterprise Value 61.44b)
FCF Margin = 35.92% (FCF TTM 2.32b / Revenue TTM 6.45b)
Net Margin = 43.42% (Net Income TTM 2.80b / Revenue TTM 6.45b)
Gross Margin = 36.72% ((Revenue TTM 6.45b - Cost of Revenue TTM 4.08b) / Revenue TTM)
Gross Margin QoQ = 61.79% (prev 58.83%)
Tobins Q-Ratio = 0.67 (Enterprise Value 61.44b / Total Assets 91.73b)
Interest Expense / Debt = 0.37% (Interest Expense 160.7m / Debt 43.05b)
Taxrate = 25.0% (EU avg default 25%)
NOPAT = 1.47b (EBIT 1.96b * (1 - 25.00%))
Current Ratio = 0.80 (Total Current Assets 6.51b / Total Current Liabilities 8.14b)
Debt / Equity = 1.65 (Debt 43.05b / totalStockholderEquity, last quarter 26.08b)
Debt / EBITDA = 16.52 (Net Debt 40.04b / EBITDA 2.42b)
Debt / FCF = 17.29 (Net Debt 40.04b / FCF TTM 2.32b)
Total Stockholder Equity = 24.76b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.06% (Net Income 2.80b / Total Assets 91.73b)
RoE = 11.30% (Net Income TTM 2.80b / Total Stockholder Equity 24.76b)
RoCE = 3.21% (EBIT 1.96b / Capital Employed (Equity 24.76b + L.T.Debt 36.42b))
RoIC = 3.21% (NOPAT 1.47b / Invested Capital 45.81b)
WACC = 1.94% (E(21.40b)/V(64.45b) * Re(5.29%) + D(43.05b)/V(64.45b) * Rd(0.37%) * (1-Tc(0.25)))
Discount Rate = 5.29% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 100.0 | Cagr: 1.40%
[DCF Debug] Terminal Value 88.28% ; FCFF base≈2.03b ; Y1≈2.46b ; Y5≈4.02b
Fair Price DCF = 91.22 (EV 117.41b - Net Debt 40.04b = Equity 77.36b / Shares 848.1m; r=5.90% [WACC]; 5y FCF grow 22.74% → 2.90% )
EPS Correlation: 7.80 | EPS CAGR: 40.36% | SUE: 4.0 | # QB: 1
Revenue Correlation: 70.09 | Revenue CAGR: 6.03% | SUE: 0.90 | # QB: 2
EPS next Quarter (2026-03-31): EPS=0.44 | Chg30d=-0.046 | Revisions Net=-1 | Analysts=1
EPS next Year (2026-12-31): EPS=1.97 | Chg30d=-0.012 | Revisions Net=+1 | Growth EPS=+4.8% | Growth Revenue=+3.2%
P/E Trailing = 7.8111
P/E Forward = 12.2399
P/S = 2.8491
P/B = 0.8203
P/EG = 14.7462
Revenue TTM = 6.45b EUR
EBIT TTM = 1.96b EUR
EBITDA TTM = 2.42b EUR
Long Term Debt = 36.42b EUR (from longTermDebt, last quarter)
Short Term Debt = 6.15b EUR (from shortTermDebt, last quarter)
Debt = 43.05b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 40.04b EUR (from netDebt column, last quarter)
Enterprise Value = 61.44b EUR (21.40b + Debt 43.05b - CCE 3.01b)
Interest Coverage Ratio = 2.29 (Ebit TTM 1.96b / Interest Expense TTM 856.8m)
EV/FCF = 26.54x (Enterprise Value 61.44b / FCF TTM 2.32b)
FCF Yield = 3.77% (FCF TTM 2.32b / Enterprise Value 61.44b)
FCF Margin = 35.92% (FCF TTM 2.32b / Revenue TTM 6.45b)
Net Margin = 43.42% (Net Income TTM 2.80b / Revenue TTM 6.45b)
Gross Margin = 36.72% ((Revenue TTM 6.45b - Cost of Revenue TTM 4.08b) / Revenue TTM)
Gross Margin QoQ = 61.79% (prev 58.83%)
Tobins Q-Ratio = 0.67 (Enterprise Value 61.44b / Total Assets 91.73b)
Interest Expense / Debt = 0.37% (Interest Expense 160.7m / Debt 43.05b)
Taxrate = 25.0% (EU avg default 25%)
NOPAT = 1.47b (EBIT 1.96b * (1 - 25.00%))
Current Ratio = 0.80 (Total Current Assets 6.51b / Total Current Liabilities 8.14b)
Debt / Equity = 1.65 (Debt 43.05b / totalStockholderEquity, last quarter 26.08b)
Debt / EBITDA = 16.52 (Net Debt 40.04b / EBITDA 2.42b)
Debt / FCF = 17.29 (Net Debt 40.04b / FCF TTM 2.32b)
Total Stockholder Equity = 24.76b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.06% (Net Income 2.80b / Total Assets 91.73b)
RoE = 11.30% (Net Income TTM 2.80b / Total Stockholder Equity 24.76b)
RoCE = 3.21% (EBIT 1.96b / Capital Employed (Equity 24.76b + L.T.Debt 36.42b))
RoIC = 3.21% (NOPAT 1.47b / Invested Capital 45.81b)
WACC = 1.94% (E(21.40b)/V(64.45b) * Re(5.29%) + D(43.05b)/V(64.45b) * Rd(0.37%) * (1-Tc(0.25)))
Discount Rate = 5.29% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 100.0 | Cagr: 1.40%
[DCF Debug] Terminal Value 88.28% ; FCFF base≈2.03b ; Y1≈2.46b ; Y5≈4.02b
Fair Price DCF = 91.22 (EV 117.41b - Net Debt 40.04b = Equity 77.36b / Shares 848.1m; r=5.90% [WACC]; 5y FCF grow 22.74% → 2.90% )
EPS Correlation: 7.80 | EPS CAGR: 40.36% | SUE: 4.0 | # QB: 1
Revenue Correlation: 70.09 | Revenue CAGR: 6.03% | SUE: 0.90 | # QB: 2
EPS next Quarter (2026-03-31): EPS=0.44 | Chg30d=-0.046 | Revisions Net=-1 | Analysts=1
EPS next Year (2026-12-31): EPS=1.97 | Chg30d=-0.012 | Revisions Net=+1 | Growth EPS=+4.8% | Growth Revenue=+3.2%