Vonovia SE
XETRA:VNA

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Vonovia SE
XETRA:VNA
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Price: 22.96 EUR -1.2% Market Closed
Market Cap: €19.5B

EV/EBITDA

21.2
Current
11%
Cheaper
vs 3-y average of 23.8

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
21.2
=
Enterprise Value
€53.5B
/
EBITDA
€2.6B

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
21.2
=
Enterprise Value
€53.5B
/
EBITDA
€2.6B

Valuation Scenarios

Vonovia SE is trading below its 3-year average

If EV/EBITDA returns to its 3-Year Average (23.8), the stock would be worth €25.76 (12% upside from current price).

Statistics
Positive Scenarios
2/4
Maximum Downside
-57%
Maximum Upside
+12%
Average Downside
13%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 21.2 €22.96
0%
3-Year Average 23.8 €25.76
+12%
5-Year Average 22.6 €24.51
+7%
Industry Average 18.1 €19.59
-15%
Country Average 9 €9.76
-57%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
€53.5B
/
Jan 2026
€2.6B
=
21.2
Current
€53.5B
/
Dec 2026
€3B
=
18.1
Forward
€53.5B
/
Dec 2027
€3.1B
=
17.1
Forward
€53.5B
/
Dec 2028
€3.4B
=
15.9
Forward

Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close

Market Distribution

Higher than 85% of companies in Germany
Percentile
85th
Based on 2 491 companies
85th percentile
21.2
Low
0.1 — 6.2
Typical Range
6.2 — 13.6
High
13.6 —
Distribution Statistics
Germany
Min 0.1
30th Percentile 6.2
Median 9
70th Percentile 13.6
Max 6 112.6

Vonovia SE
Glance View

Market Cap
19.5B EUR
Industry
Real Estate

Vonovia SE stands as a significant player in the European residential real estate market. Its roots trace back to Germany, where it has become a dominant force in managing and developing residential properties. The company operates primarily through a portfolio-based approach, maintaining a vast number of apartments that it rents to residents across Germany and other European countries. Vonovia's core business model revolves around the acquisition, management, and enhancement of residential properties. By focusing on maintaining and upgrading its existing properties, the company ensures that homes meet modern living standards, which in turn supports tenant satisfaction and retention. Beyond property management, Vonovia expands its revenue streams through strategic development and modernization projects. By investing in new constructions and sustainable refurbishments, it not only increases its housing stock but also enhances the value of its assets. Vonovia also engages in supplemental services such as property sales, energy services, and technical maintenance, which complement its rental income. This diversified approach allows the company to stabilize its revenue even in the face of changing market conditions. Thus, Vonovia’s comprehensive strategy of owning, developing, and managing residential spaces underpins its continued growth and relevance in the competitive real estate sector.

VNA Intrinsic Value
50.32 EUR
Undervaluation 54%
Intrinsic Value
Price €22.96
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