Financials Vonovia SE

Equities

VNA

DE000A1ML7J1

Real Estate Development & Operations

Delayed Xetra 09:07:53 30/04/2024 pm IST 5-day change 1st Jan Change
27.18 EUR +3.94% Intraday chart for Vonovia SE +7.18% -4.77%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 26,029 33,817 37,665 17,525 23,250 22,142 - -
Enterprise Value (EV) 1 49,648 57,861 84,006 60,981 65,446 60,405 59,953 59,518
P/E ratio 22.3 x 10.2 x 11.5 x -26.9 x -3.66 x -12.9 x 16.4 x 9.53 x
Yield 3.27% 2.83% 3.42% - 3.15% 3.89% 4.23% 4.55%
Capitalization / Revenue 12.5 x 14.8 x 15.9 x 5.54 x 7.15 x 5.98 x 5.94 x 5.76 x
EV / Revenue 23.9 x 25.3 x 35.6 x 19.3 x 20.1 x 16.3 x 16.1 x 15.5 x
EV / EBITDA 28.2 x 30.3 x 37 x 22.1 x 25.3 x 23.5 x 22.6 x 21.6 x
EV / FCF -92.6 x -103 x 88.3 x -156 x 82.1 x 14.6 x 26.9 x 18.5 x
FCF Yield -1.08% -0.97% 1.13% -0.64% 1.22% 6.84% 3.72% 5.4%
Price to Book 1.28 x 1.4 x 1.13 x 0.56 x 0.74 x 0.93 x 0.9 x 0.84 x
Nbr of stocks (in thousands) 5,42,274 5,65,887 7,76,597 7,95,850 8,14,645 8,14,645 - -
Reference price 2 48.00 59.76 48.50 22.02 28.54 27.18 27.18 27.18
Announcement Date 05/03/20 04/03/21 18/03/22 16/03/23 14/03/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 2,075 2,286 2,362 3,163 3,253 3,312 3,354 3,451
EBITDA 1 1,760 1,910 2,269 2,763 2,584 2,577 2,650 2,763
EBIT 1 -415.7 1,818 -1,213 1,484 2,119 2,382 2,392 2,451
Operating Margin -20.03% 79.51% -51.36% 46.91% 65.13% 71.92% 71.31% 71.01%
Earnings before Tax (EBT) 1 3,139 5,014 5,482 -732.7 -9,185 -1,564 2,345 2,723
Net income 1 1,147 3,228 2,642 -643.8 -6,285 -1,295 1,522 2,087
Net margin 55.28% 141.24% 111.87% -20.35% -193.19% -39.1% 45.38% 60.46%
EPS 2 2.150 5.870 4.220 -0.8200 -7.800 -1.592 1.694 2.775
Free Cash Flow 1 -536.1 -564.1 951.6 -391.2 797.5 4,130 2,230 3,212
FCF margin -25.84% -24.68% 40.29% -12.37% 24.51% 124.72% 66.5% 93.05%
FCF Conversion (EBITDA) - - 41.93% - 30.87% 160.25% 84.16% 116.25%
FCF Conversion (Net income) - - 36.02% - - - 146.55% 153.92%
Dividend per Share 2 1.570 1.690 1.660 - 0.9000 1.100 1.150 1.236
Announcement Date 05/03/20 04/03/21 18/03/22 16/03/23 14/03/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 S1 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 - 1,170 598.9 590.4 598.3 600.3 1,374 800.2 809.1 806.7 837.4 824.2 818.4 814.5 810.6 - -
EBITDA 1 942.2 1,022 728.4 729.7 672.3 708.1 653 657.1 681.2 671.7 573.8 627.9 619.1 635 680.3 705.3 701.3
EBIT - - - - - - - - 361.3 598.2 - - - - - - -
Operating Margin - - - - - - - - 44.65% 74.15% - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - -3,842 - - - - - -
Net income 1 - - -1,141 -64.7 1,706 329.1 -2,615 - - 404.5 -2,772 306.4 -1,416 -153.8 -251.7 353.6 29.19
Net margin - - -190.52% -10.96% 285.22% 54.82% -190.24% - - 50.14% -330.98% 37.18% -173.04% -18.89% -31.06% - -
EPS 2 - - -2.410 -0.0800 2.330 - -3.420 - - 0.5000 -3.430 0.3800 -1.729 -0.1856 -0.3038 0.4266 0.0350
Dividend per Share 2 - - 1.660 - - - - - - - 0.9000 - - - 1.176 - -
Announcement Date 05/08/20 06/08/21 18/03/22 05/05/22 03/08/22 04/11/22 16/03/23 04/05/23 04/08/23 03/11/23 14/03/24 30/04/24 - - - - -
1EUR in Million2EUR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 23,619 24,043 46,342 43,457 42,196 38,263 37,811 37,376
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 13.42 x 12.59 x 20.42 x 15.73 x 16.33 x 14.86 x 14.28 x 13.54 x
Free Cash Flow 1 -536 -564 952 -391 798 4,130 2,230 3,212
ROE (net income / shareholders' equity) 5.85% 14.5% 9.2% 4.62% - 3.54% 6.56% 6.46%
ROA (Net income/ Total Assets) 2.17% 5.43% 3.13% 1.43% -6.5% -0.11% 2.09% 2.36%
Assets 1 52,943 59,447 84,368 -45,008 96,692 10,21,731 72,654 88,883
Book Value Per Share 2 37.50 42.70 42.90 39.40 38.50 29.30 30.30 32.30
Cash Flow per Share 2 2.920 2.600 2.910 2.640 2.360 2.400 2.430 2.490
Capex 1 173 1,995 872 2,476 1,104 1,197 1,303 1,476
Capex / Sales 8.32% 87.26% 36.94% 78.25% 33.92% 32.35% 34.93% 38.36%
Announcement Date 05/03/20 04/03/21 18/03/22 16/03/23 14/03/24 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
18
Last Close Price
27.18 EUR
Average target price
32.23 EUR
Spread / Average Target
+18.57%
Consensus
  1. Stock Market
  2. Equities
  3. VNA Stock
  4. Financials Vonovia SE