ARE vs VNO Stock Comparison

Alexandria Real Estate Equities and Vornado Realty Trust Prices as of Oct 23, 2026 Peers: Industry group
VNO Vornado Realty Trust
$34.80 +1.9% 1M -11.5% 1Y
Market cap
$6.52B
P/E
1,127x
Revenue (TTM)
$1.83B
Div. yield
–
Office REITs Real Estate
5 wins

Head to Head

7 decided of 12

Vornado Realty Trust leads on 5 of the 12 questions below (Vornado Realty Trust 5, Alexandria Real Estate Equities 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionAREVNOLeader
Larger companyMarket capitalisation $7.39B $6.52B ARE
Cheaper on earningsLower P/E, profitable companies only -7.2x 1,127x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS 27.5x — –
Faster revenue growthRevenue growth, trailing twelve months -8.4% +1.4% VNO
More profitableNet margin, trailing twelve months -36.3% 0.3% VNO
Better return on capitalReturn on invested capital — 2.3% –
Less leveragedLower net debt / EBITDA — 7.1x –
Higher dividend yieldTrailing dividend yield 0.09% 0.00% –
Better 1-year returnPrice return, last 12 months -44.1% -11.5% VNO
Better 5-year returnAnnualised price return, 5 years -27.1%/yr -5.0%/yr VNO
Less volatileAnnualised volatility, 1 year 49.9% 32.7% VNO
Higher overall scoreMean of the five percentile scores vs peers 45/100 29/100 ARE

Percentile Scorecard

AREVNO

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisAREVNO
Valuation 75 #37 of 145 24 #111 of 145
Growth 11 #129 of 144 12 #127 of 144
Profitability 19 #114 of 140 39 #86 of 140
Financial Health 79 #31 of 146 33 #98 of 146
Shareholder Returns 41 #78 of 132 37 #84 of 132
Overall 45 29
  • ARE ranked among 149 companies in Property REITs
  • VNO ranked among 149 companies in Property REITs

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodAREVNOSPY
1 month -17.1%+1.9% -1.0%
3 months -15.7%-12.4% +2.9%
6 months -9.3%+18.8% +6.4%
Year to date -12.2%+4.6% +11.4%
1 year -44.1%-11.5% +13.1%
3 years -55.0%+71.7% +79.4%
3 years, per year -23.4%+19.8% +21.5%
5 years -79.4%-22.5% +67.7%
5 years, per year -27.1%-5.0% +10.9%
10 years -59.7%-54.7% +255.2%
10 years, per year -8.7%-7.6% +13.5%

Risk

MeasureAREVNOSPY
Volatility, 1Y 49.9%32.7% 12.7%
Downside volatility, 1Y 56.4%33.6% 12.7%
Beta vs S&P 500, 1Y 0.750.99 1.00
Return / volatility, 1Y -0.88-0.35 1.03
Max drawdown, 5Y -81.9%-73.6% -25.4%
From 52-week high -44.8%-14.9% -2.5%
52-week high $77.87$40.91 $779.14
52-week low $40.41$24.71 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleAREVNO
P/E now vs peer median -7.1xmedian 27.0x 1,127xmedian 27.0x
P/S now vs peer median 2.6xmedian 4.1x 3.6xmedian 4.1x
EV/EBITDA now vs peer median —median 14.5x 13.9xmedian 14.5x
P/FCF now vs peer median -16.3xmedian 23.7x -15.6xmedian 23.7x
P/B now vs peer median 0.4xmedian 1.3x 1.1xmedian 1.3x
PEG now vs peer median 0.13median 2.07 42.90median 2.07

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsAREVNO
Revenue $2.84B $1.83B
Net income -$988.04M $49.20M
Free cash flow -$460.59M -$416.33M
EPS (diluted) $-6.04 $0.03
Cash & equivalents $470.45M $675.35M
Total debt $51.33B $29.53B
Shares (diluted) 170.72M 194.20M
Enterprise value $39.03M $2.91B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricAREVNO
P/E -7.1x 1,127x
P/FCF -16.3x -15.6x
P/Operating cash flow 5.9x 16.6x
P/S 2.6x 3.6x
P/B 0.4x 1.1x
P/Tangible book 0.4x 1.1x
EV/EBITDA – 13.9x
EV/EBIT – 33.0x
EV/Revenue 6.4x 7.3x
EV/FCF -39.8x -31.9x
EV/Operating cash flow 14.3x 33.9x
PEG (3Y EPS CAGR) 0.13 42.90

Growth

14 metrics
MetricAREVNO
Revenue growth (1Y) -8.4% 1.4%
Revenue CAGR (3Y) 1.1% 0.1%
Gross profit growth (1Y) – –
Gross profit CAGR (3Y) – –
Operating income growth (1Y) – –
Operating income CAGR (3Y) – –
Net income growth (1Y) -864.9% -94.6%
Net income CAGR (3Y) -49.6% 28.4%
EPS growth (1Y) -4,691% -99.3%
EPS CAGR (3Y) -56.8% 26.3%
Operating cash flow growth (1Y) -9.9% -71.9%
Operating cash flow CAGR (3Y) -6.2% -19.3%
Free cash flow growth (1Y) 48.9% -145.3%
Free cash flow CAGR (3Y) 47.2% -66.0%

Profitability

14 metrics
MetricAREVNO
Gross margin – –
EBITDA margin – 52.0%
Operating margin – –
Pretax margin – 2.9%
Net margin -36.3% 0.3%
FCF margin -16.2% -22.8%
Operating cash flow margin 45.0% 21.4%
Return on equity -4.3% 0.7%
Return on assets -2.4% 0.3%
Return on invested capital – 2.3%
Return on capital employed – –
Asset turnover 0.1x 0.1x
Cash conversion (OCF / net income) -1.3x 7.9x
Stock comp / revenue 1.4% 1.4%

Financial Health

11 metrics
MetricAREVNO
Debt / assets 37.0% 47.7%
Debt / equity 0.7x 1.2x
Net debt / EBITDA – 7.1x
Debt / FCF -27.8x -17.9x
Liabilities / assets 44.7% 61.8%
Equity / assets 55.3% 38.2%
Interest coverage – 1.2x
Current ratio – –
Quick ratio – –
Cash ratio – –
Altman Z-score – –

Shareholder Returns

7 metrics
MetricAREVNO
Dividend yield 6.7% 2.1%
Net buyback yield – 2.1%
Shareholder yield 6.7% 4.2%
Payout ratio (earnings) -71.0% –
Payout ratio (FCF) -152.4% –
Dividend growth (1Y) -23.0% –
Dividend CAGR (3Y) -4.5% –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusAREVNO
Forward P/E 27.5xFY2026 –
EPS, next fiscal year $1.56FY2026 $-0.40FY2026
EPS growth, next FY – -109.5%FY2026
EPS growth, the year after -152.6% –
Revenue, next fiscal year $2.71BFY2026 $1.78BFY2026
Revenue growth, next FY -8.2%FY2026 -1.9%FY2026
Revenue growth, the year after -15.0% +24.9%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersAREVNO
Held by institutions 97.2% 99.2%
Institutions holding 595 433
Change in shares held, QoQ +14.1% +14.6%
Institutions buying 336 233
Institutions selling 191 126
Buyers to sellers 1.76 1.85

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

AREVNO
ARE 1.00 0.44
VNO 0.44 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, ARE and VNO?

Alexandria Real Estate Equities (ARE) is the largest by market capitalisation: Alexandria Real Estate Equities (ARE) $7.39B, Vornado Realty Trust (VNO) $6.52B.

Which company is growing faster?

Vornado Realty Trust (VNO) grew revenue fastest over the trailing twelve months: Alexandria Real Estate Equities (ARE) -8.4%, Vornado Realty Trust (VNO) +1.4%.

Which company is more profitable?

Vornado Realty Trust (VNO) has the highest net margin (Alexandria Real Estate Equities (ARE) -36.3%, Vornado Realty Trust (VNO) 0.3%).

Which stock has performed better?

Over the past year Vornado Realty Trust (VNO) returned the most: Alexandria Real Estate Equities (ARE) -44.1%, Vornado Realty Trust (VNO) -11.5%. Over five years, Vornado Realty Trust (VNO) compounded fastest (Alexandria Real Estate Equities (ARE) -27.1%/yr, Vornado Realty Trust (VNO) -5.0%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Only one of these companies pays a dividend: Alexandria Real Estate Equities (ARE) 0.09%, Vornado Realty Trust (VNO) 0.00%. Vornado Realty Trust (VNO) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Vornado Realty Trust (VNO) has been the steadiest (Alexandria Real Estate Equities (ARE) 49.9%, Vornado Realty Trust (VNO) 32.7%). Volatility measures how widely the price swings, not the risk of the business.

Do ARE and VNO move together?

Their daily returns over the past year have a correlation of 0.44, a moderate positive relationship. Holding both diversifies more than two closely linked stocks would.

Which is the better stock, ARE and VNO?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Vornado Realty Trust (VNO) leads on 5. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.