VNO vs SPG

For growth investors, Simon Property Group, Inc.

(SPG) is the stronger pick with 6. 7% revenue growth year-over-year, versus 1. 3% for Vornado Realty Trust (VNO). Vornado Realty Trust (VNO) offers the better valuation at 7. 2x trailing P/E (356. 0x forward), making it the more compelling value choice. Analysts rate Vornado Realty Trust (VNO) a "Hold" — based on 28 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On trailing P/E, Vornado Realty Trust (VNO) is the cheapest at 7.

2x versus Simon Property Group, Inc. at 14. 3x. On forward P/E, Simon Property Group, Inc. is actually cheaper at 30. 4x — notably different from the trailing picture, reflecting expected earnings growth.

Over the past 5 years, Simon Property Group, Inc.

(SPG) delivered a total return of +98. 5%, compared to -21. 8% for Vornado Realty Trust (VNO). Over 10 years, the gap is even starker: SPG returned +32. 2% versus VNO's -35. 0%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Simon Property Group, Inc.

(SPG) is the lower-risk stock at 0. 61β versus Vornado Realty Trust's 1. 19β — meaning VNO is approximately 95% more volatile than SPG relative to the S&P 500. On balance sheet safety, Vornado Realty Trust (VNO) carries a lower debt/equity ratio of 116% versus 4% for Simon Property Group, Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Simon Property Group, Inc.

(SPG) is pulling ahead at 6. 7% versus 1. 3% for Vornado Realty Trust (VNO). On earnings-per-share growth, the picture is similar: Vornado Realty Trust grew EPS 104. 0% year-over-year, compared to 94. 8% for Simon Property Group, Inc.. Over a 3-year CAGR, SPG leads at 6. 3% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Simon Property Group, Inc.

(SPG) is the more profitable company, earning 72. 5% net margin versus 50. 0% for Vornado Realty Trust — meaning it keeps 72. 5% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: SPG leads at 49. 9% versus 15. 0% for VNO. At the gross margin level — before operating expenses — VNO leads at 100. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

On forward earnings alone, Simon Property Group, Inc.

(SPG) trades at 30. 4x forward P/E versus 356. 0x for Vornado Realty Trust — 325. 6x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for VNO: 23. 9% to $37. 50.

In this comparison, VNO (2.

4% yield) pays a dividend. SPG does not pay a meaningful dividend and should not be held primarily for income.

For long-horizon retirement investors, Simon Property Group, Inc.

(SPG) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 61)). Both have compounded well over 10 years (SPG: +32. 2%, VNO: -35. 0%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

VNO pays a dividend while SPG does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.