Vornado Realty Trust (VNO) P/E Ratio History
Historical price-to-earnings valuation from 1991 to 2026
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VNO Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 6, 2026, Vornado Realty Trust (VNO) trades at a price-to-earnings ratio of 7.5x, with a stock price of $31.56 and trailing twelve-month earnings per share of $4.19.
The current P/E is 93% below its 5-year average of 108.8x. Over the past five years, VNO's P/E has ranged from a low of 2.4x to a high of 1051.0x, placing the current valuation at the 25th percentile of its historical range.
Compared to the Real Estate sector median P/E of 24.3x, VNO trades at a 69% discount to its sector peers. The sector includes 170 companies with P/E ratios ranging from 1.1x to 195.0x.
Relative to the broader market, VNO trades at a notable discount to the S&P 500 median P/E of 25.2x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our VNO DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
VNO P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $9B | 34.4 | - | +1833%Best | |
| $4B | 15.1 | 2.07 | +31% | |
| $3B | 17.8 | - | +54% | |
| $4B | 111.6 | - | -20% | |
| $67B | 14.5Lowest | 0.46Best | +95% | |
| $2B | 125.2 | - | -25% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
VNO Historical P/E Data (1991–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | $25.99 | $3.64 | 7.1x | -87% | |
| FY2025 Q4 | Wed Dec 31 2025 00:00:00 GM | $33.28 | $4.19 | 7.9x | -85% |
| FY2025 Q3 | $40.53 | $4.20 | 9.7x | -82% | |
| FY2025 Q2 | Mon Jun 30 2025 00:00:00 GM | $38.24 | $4.04 | 9.5x | -83% |
| FY2025 Q1 | Mon Mar 31 2025 00:00:00 GM | $36.99 | $0.52 | 71.1x | +30% |
| FY2024 Q4 | $42.04 | $0.04 | 1051.0x | +1827% | |
| FY2024 Q2 | Sun Jun 30 2024 00:00:00 GM | $26.29 | $0.09 | 292.1x | +435% |
| FY2024 Q1 | Sun Mar 31 2024 00:00:00 GM | $28.77 | $0.15 | 191.8x | +252% |
| FY2023 Q4 | Sun Dec 31 2023 00:00:00 GM | $28.25 | $0.23 | 122.8x | +125% |
| FY2022 Q3 | Fri Sep 30 2022 00:00:00 GM | $23.16 | $0.50 | 46.3x | -15% |
| FY2022 Q2 | $28.59 | $0.66 | 43.3x | -21% | |
| FY2022 Q1 | $45.32 | $0.65 | 69.7x | +28% |
Average P/E for displayed period: 54.6x
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Start ComparisonVNO — Frequently Asked Questions
Quick answers to the most common questions about buying VNO stock.
Is VNO stock overvalued or undervalued?
VNO trades at 7.5x P/E, below its 5-year average of 108.8x. At the 25th percentile of historical range, the stock is priced at a discount to its own history.
How does VNO's valuation compare to peers?
Vornado Realty Trust P/E of 7.5x compares to sector median of 24.3x. The discount suggests lower growth expectations or higher risk.
What is VNO's PEG ratio?
VNO PEG ratio is N/A. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 1991-2026.