Douglas Emmett, Inc. (DEI) vs Vornado Realty Trust (VNO)

Douglas Emmett, Inc. and Vornado Realty Trust are both Reit Office companies. Vornado Realty Trust is the larger, with a market value of $6.9B against $1.7B — 4.1× the size. Douglas Emmett, Inc. has negative trailing earnings, so its P/E is not meaningful; Vornado Realty Trust trades at 1,681×. Vornado Realty Trust grew revenue faster over the last twelve months: 1.37% against 0.78%. Vornado Realty Trust has the higher net margin (0.32% vs −2.28%) and the lower return on invested capital (0.95% vs 1.35%). Both pay a dividend; Douglas Emmett, Inc. yields more (7.80% vs 2.20%). Across the 22 metrics below, Douglas Emmett, Inc. leads on 11 and Vornado Realty Trust on 11.

Valuation

Metric DEI VNO Reit Office median
P/E n/m 1,680.50 36.91
P/S 1.62 3.44 2.70
P/B 0.46 1.32 0.78
Price to free cash flow 25.33 213.97 13.79
EV/EBITDA 11.71 17.32 12.55
EV/Sales 6.95 6.99 6.97
Earnings yield (1.54%) 0.06% (3.58%)
Free cash flow yield 3.95% 0.47% 5.98%

Profitability

Metric DEI VNO Reit Office median
Gross margin 63.18% 48.11% 60.53%
Operating margin 19.00% 10.33% 16.84%
Net margin (2.28%) 0.32% (8.23%)
Free cash flow margin 6.39% 1.61% 16.39%
Return on equity (0.65%) 0.12% (2.66%)
Return on assets (0.24%) 0.04% (0.95%)
Return on invested capital 1.35% 0.95% 1.32%

Growth

Metric DEI VNO Reit Office median
Revenue growth (TTM) 0.78% 1.37% 1.08%
EPS growth (last fiscal year) (30.77%) 10,900.00% 8.90%
Revenue growth, 5-year CAGR 2.40% 3.45% 4.37%
Net income growth, 5-year CAGR (20.25%) 0.00% 0.00%

Health

Metric DEI VNO Reit Office median
Debt to equity 1.63 1.25 1.20
Current ratio 2.60 5.24 2.43
Net debt to EBITDA 8.73 7.92 6.91

Dividend

Metric DEI VNO Reit Office median
Dividend yield 7.80% 2.20% 4.82%
Payout ratio — 37.00 1.67

Size

Metric DEI VNO Reit Office median
Market cap 1.66b 6.88b 1.40b

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