JBGS vs ARE vs VNO Stock Comparison

JBG SMITH Properties, Alexandria Real Estate Equities and Vornado Realty Trust Prices as of Oct 28, 2026 Peers: Industry group
JBGS JBG SMITH Properties
$11.56 +13.4% 1M -45.9% 1Y
Market cap
$861.45M
P/E
–
Revenue (TTM)
$508.41M
Div. yield
5.97%
Office REITs Real Estate
VNO Vornado Realty Trust
$34.35 +0.7% 1M -12.6% 1Y
Market cap
$6.41B
P/E
1,113x
Revenue (TTM)
$1.83B
Div. yield
2.15%
Office REITs Real Estate
7 wins

Head to Head

10 decided of 12

Vornado Realty Trust leads on 7 of the 12 questions below (Vornado Realty Trust 7, Alexandria Real Estate Equities 3). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionJBGSAREVNOLeader
Larger companyMarket capitalisation $861.45M $6.95B $6.41B ARE
Cheaper on earningsLower P/E, profitable companies only -4.4x -4.7x 1,113x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS — 25.6x — –
Faster revenue growthRevenue growth, trailing twelve months -1.1% -9.9% +1.4% VNO
More profitableNet margin, trailing twelve months -30.3% -52.0% 0.3% VNO
Better return on capitalReturn on invested capital -1.3% — 2.3% VNO
Less leveragedLower net debt / EBITDA 16.9x — 7.1x VNO
Higher dividend yieldTrailing dividend yield 5.97% 7.22% 2.15% ARE
Better 1-year returnPrice return, last 12 months -45.9% -36.6% -12.6% VNO
Better 5-year returnAnnualised price return, 5 years -16.7%/yr -27.9%/yr -4.2%/yr VNO
Less volatileAnnualised volatility, 1 year 34.7% 45.6% 32.7% VNO
Higher overall scoreMean of the five percentile scores vs peers 25/100 39/100 28/100 ARE

Percentile Scorecard

JBGSAREVNO

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

AxisJBGSAREVNO
Valuation 33 #97 of 145 75 #37 of 145 24 #110 of 145
Growth 12 #125 of 142 7 #132 of 142 13 #124 of 142
Profitability 4 #130 of 135 14 #116 of 135 37 #85 of 135
Financial Health 11 #121 of 136 73 #38 of 136 33 #91 of 136
Shareholder Returns 62 #50 of 131 29 #94 of 131 35 #86 of 131
Overall 25 39 28
  • JBGS ranked among 149 companies in Property REITs
  • 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

PeriodJBGSAREVNOSPY
1 month +13.4%-18.0%+0.7% +0.9%
3 months -20.4%-25.8%-15.5% +5.9%
6 months -22.5%-2.8%+17.0% +8.5%
Year to date -32.0%-18.5%+3.2% +13.3%
1 year -45.9%-36.6%-12.6% +12.4%
3 years -10.0%-56.5%+75.9% +88.1%
3 years, per year -3.4%-24.2%+20.7% +23.5%
5 years -59.9%-80.4%-19.4% +68.2%
5 years, per year -16.7%-27.9%-4.2% +11.0%
10 years —-62.0%-53.4% +263.4%
10 years, per year —-9.2%-7.4% +13.8%

Risk

MeasureJBGSAREVNOSPY
Volatility, 1Y 34.7%45.6%32.7% 12.7%
Downside volatility, 1Y 40.3%48.5%33.5% 12.7%
Beta vs S&P 500, 1Y 0.170.760.99 1.00
Return / volatility, 1Y -1.32-0.80-0.38 0.98
Max drawdown, 5Y -67.3%-82.1%-73.6% -25.4%
From 52-week high -45.9%-36.6%-16.0% -0.9%
52-week high $21.35$62.94$40.91 $779.14
52-week low $10.05$39.91$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.

MultipleJBGSAREVNO
P/E now vs peer median -4.4xmedian 25.8x -4.7xmedian 25.8x 1,113xmedian 25.8x
P/S now vs peer median 1.7xmedian 4.0x 2.5xmedian 4.0x 3.5xmedian 4.0x
EV/EBITDA now vs peer median 22.8xmedian 14.2x —median 14.2x 13.9xmedian 14.2x
P/FCF now vs peer median -13.0xmedian 23.0x -14.7xmedian 23.0x -15.4xmedian 23.0x
P/B now vs peer median 0.8xmedian 1.3x 0.4xmedian 1.3x 1.1xmedian 1.3x
PEG now vs peer median 0.04median 1.91 0.05median 1.91 42.35median 1.91

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 monthsJBGSAREVNO
Revenue $508.41M $2.76B $1.83B
Net income -$186.68M -$1.39B $49.20M
Free cash flow -$66.16M -$473.23M -$416.33M
EPS (diluted) $-2.64 $-8.40 $0.03
Cash & equivalents $74.80M $508.86M $675.35M
Total debt $10.02B $12.90B $7.44B
Shares (diluted) 58.28M 170.75M 194.20M
Enterprise value $1.06B $2.96B $3.54B

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
MetricJBGSAREVNO
P/E -4.4x -4.7x 1,113x
P/FCF -13.0x -14.7x -15.4x
P/Operating cash flow 14.2x 5.9x 16.4x
P/S 1.7x 2.5x 3.5x
P/B 0.8x 0.4x 1.1x
P/Tangible book 0.8x 0.4x 1.1x
EV/EBITDA 22.8x – 13.9x
EV/EBIT -70.0x – 32.8x
EV/Revenue 6.5x 6.4x 7.2x
EV/FCF -50.1x -37.4x -31.7x
EV/Operating cash flow 54.6x 14.9x 33.7x
PEG (3Y EPS CAGR) 0.04 0.05 42.35

Growth

14 metrics
MetricJBGSAREVNO
Revenue growth (1Y) -1.1% -9.9% 1.4%
Revenue CAGR (3Y) -5.6% -0.5% 0.1%
Gross profit growth (1Y) – – –
Gross profit CAGR (3Y) – – –
Operating income growth (1Y) – – –
Operating income CAGR (3Y) – – –
Net income growth (1Y) -4.3% -339.2% -94.6%
Net income CAGR (3Y) -83.2% -74.6% 28.4%
EPS growth (1Y) -17.4% -239.7% -99.3%
EPS CAGR (3Y) -113.4% -100.7% 26.3%
Operating cash flow growth (1Y) -39.5% -13.7% -71.9%
Operating cash flow CAGR (3Y) -27.6% -9.5% -19.3%
Free cash flow growth (1Y) 42.6% 33.5% -145.3%
Free cash flow CAGR (3Y) 40.8% 43.5% -66.0%

Profitability

14 metrics
MetricJBGSAREVNO
Gross margin – – –
EBITDA margin 28.6% – 52.0%
Operating margin – – –
Pretax margin -37.4% – 2.9%
Net margin -30.3% -52.0% 0.3%
FCF margin -13.0% -17.1% -22.8%
Operating cash flow margin 11.9% 43.0% 21.4%
Return on equity -16.8% -6.6% 0.7%
Return on assets -4.3% -3.6% 0.3%
Return on invested capital -1.3% – 2.3%
Return on capital employed – – –
Asset turnover 0.1x 0.1x 0.1x
Cash conversion (OCF / net income) -0.3x -0.9x 7.9x
Stock comp / revenue 5.3% 1.5% 1.4%

Financial Health

11 metrics
MetricJBGSAREVNO
Debt / assets 59.4% 37.9% 47.7%
Debt / equity 2.3x 0.7x 1.2x
Net debt / EBITDA 16.9x – 7.1x
Debt / FCF -38.2x -27.3x -17.9x
Liabilities / assets 74.7% 45.9% 61.8%
Equity / assets 25.3% 54.1% 38.2%
Interest coverage -0.3x – 1.2x
Current ratio – – –
Quick ratio – – –
Cash ratio – – –
Altman Z-score – – –

Shareholder Returns

7 metrics
MetricJBGSAREVNO
Dividend yield 6.0% 7.2% 2.2%
Net buyback yield 11.4% – 2.1%
Shareholder yield 17.4% 7.2% 4.2%
Payout ratio (earnings) -22.4% -43.0% –
Payout ratio (FCF) -63.3% -126.5% –
Dividend growth (1Y) -26.6% -34.4% –
Dividend CAGR (3Y) -25.4% -10.2% –

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.

ConsensusJBGSAREVNO
Forward P/E – 25.6xFY2026 –
EPS, next fiscal year $-2.03FY2026 $1.56FY2026 $-0.40FY2026
EPS growth, next FY – – -109.5%FY2026
EPS growth, the year after – -150.6% –
Revenue, next fiscal year $453.74MFY2026 $2.71BFY2026 $1.78BFY2026
Revenue growth, next FY -9.0%FY2026 -8.2%FY2026 -1.9%FY2026
Revenue growth, the year after +11.5% -13.7% +24.9%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersJBGSAREVNO
Held by institutions 97.6% 97.2% 99.2%
Institutions holding 206 595 433
Change in shares held, QoQ +2.8% +14.1% +14.6%
Institutions buying 86 336 233
Institutions selling 72 191 126
Buyers to sellers 1.19 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.

JBGSAREVNO
JBGS 1.00 0.50 0.45
ARE 0.50 1.00 0.48
VNO 0.45 0.48 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, JBGS, ARE and VNO?

Alexandria Real Estate Equities (ARE) is the largest by market capitalisation: JBG SMITH Properties (JBGS) $861.45M, Alexandria Real Estate Equities (ARE) $6.95B, Vornado Realty Trust (VNO) $6.41B.

Which company is growing faster?

Vornado Realty Trust (VNO) grew revenue fastest over the trailing twelve months: JBG SMITH Properties (JBGS) -1.1%, Alexandria Real Estate Equities (ARE) -9.9%, Vornado Realty Trust (VNO) +1.4%.

Which company is more profitable?

Vornado Realty Trust (VNO) has the highest net margin (JBG SMITH Properties (JBGS) -30.3%, Alexandria Real Estate Equities (ARE) -52.0%, Vornado Realty Trust (VNO) 0.3%). On return on invested capital, Vornado Realty Trust (VNO) leads (JBG SMITH Properties (JBGS) -1.3%, Vornado Realty Trust (VNO) 2.3%).

Which stock has performed better?

Over the past year Vornado Realty Trust (VNO) returned the most: JBG SMITH Properties (JBGS) -45.9%, Alexandria Real Estate Equities (ARE) -36.6%, Vornado Realty Trust (VNO) -12.6%. Over five years, Vornado Realty Trust (VNO) compounded fastest (JBG SMITH Properties (JBGS) -16.7%/yr, Alexandria Real Estate Equities (ARE) -27.9%/yr, Vornado Realty Trust (VNO) -4.2%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Alexandria Real Estate Equities (ARE) has the highest dividend yield: JBG SMITH Properties (JBGS) 5.97%, Alexandria Real Estate Equities (ARE) 7.22%, Vornado Realty Trust (VNO) 2.15%.

Which stock is riskier?

By one-year price volatility, Vornado Realty Trust (VNO) has been the steadiest (JBG SMITH Properties (JBGS) 34.7%, Alexandria Real Estate Equities (ARE) 45.6%, Vornado Realty Trust (VNO) 32.7%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, JBGS, 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 7. 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.