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Vonovia VNA.DE · EUR
Real Estate · Real Estate Management & Development · XETRA · 🇩🇪 Germany
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17.23
+1.95%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€4.98bn
FY2016FY2025
Net income
€3.72bn
FY2016FY2025
Free cash flow
€1.31bn
FY2016FY2025
Shareholders' equity
€27.47bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €4.98bn | €5.94bn | €5.23bn | €5.15bn | €3.62bn | €3.15bn | €2.91bn | €2.71bn | €2.39bn | €2.21bn |
| Gross profit | €2.49bn | €2.25bn | €2.46bn | €2.86bn | €2.23bn | €2.08bn | €1.94bn | €1.75bn | €1.67bn | €1.47bn |
| Research and development | €10.6m | €3.8m | €13.0m | €1.7m | €1.3m | €1.6m | €1.3m | €1 | €1 | €1 |
| Operating income | €2.57bn | €1.00bn | €1.76bn | −€200.4m | €6.03bn | €5.46bn | €3.56bn | €964.4m | €1.37bn | €931.2m |
| Net income | €3.72bn | −€896.0m | −€6.29bn | −€669.4m | €2.68bn | €3.27bn | €1.19bn | €2.31bn | €2.45bn | €2.34bn |
| Diluted earnings per share | 4.39 | -1.09 | -7.72 | -0.85 | 2.94 | 5.91 | 2.14 | 4.17 | 4.43 | 4.23 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €93.26bn | €90.24bn | €92.00bn | €101.39bn | €106.32bn | €62.42bn | €56.50bn | €49.39bn | €37.52bn | €32.52bn |
| Cash and short-term investments | €3.26bn | €2.02bn | €1.37bn | €1.20bn | €1.32bn | €453.4m | €403.4m | €511.4m | €229.9m | €1.49bn |
| Total liabilities | €61.09bn | €62.11bn | €62.05bn | €66.95bn | €69.78bn | €37.59bn | €35.43bn | €29.72bn | €20.83bn | €18.63bn |
| Debt | €43.46bn | €43.05bn | €43.34bn | €45.53bn | €47.54bn | €24.46bn | €23.95bn | €20.12bn | €14.08bn | €13.40bn |
| Shareholders' equity | €27.47bn | €24.00bn | €25.68bn | €31.33bn | €33.29bn | €24.15bn | €20.31bn | €18.88bn | €16.08bn | €13.47bn |
| Shares outstanding | 848m | 823m | 815m | 784m | 912m | 553m | 553m | 553m | 553m | 553m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €1.66bn | €2.40bn | €1.25bn | €2.08bn | €1.82bn | €1.43bn | €1.56bn | €1.13bn | €946.0m | €828.9m |
| Capital spending | −€347.9m | −€497.0m | −€716.7m | −€228.2m | −€352.7m | −€272.3m | −€1.39bn | −€304.6m | −€122.2m | −€869.7m |
| Free cash flow | €1.31bn | €1.90bn | €533.7m | €1.86bn | €1.47bn | €1.16bn | €166.6m | €827.9m | €823.8m | −€40.8m |
| Dividends paid | −€647.2m | −€506.4m | −€372.9m | −€714.0m | −€514.6m | −€520.8m | −€417.7m | −€401.1m | −€277.9m | −€445.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €1.68bn | €1.51bn | €1.67bn | €1.50bn | €1.64bn | €1.36bn | €1.94bn | €1.64bn |
| Gross profit | €926.9m | €926.6m | €877.9m | €899.2m | €895.1m | €22.3m | €812.6m | €895.8m |
| Operating income | €650.3m | €639.2m | €634.7m | €640.5m | €199.3m | €538.0m | €584.9m | €380.5m |
| Net income | €736.8m | €210.5m | €575.3m | €2.35bn | €310.8m | €491.6m | −€349.3m | −€74.0m |
| Diluted earnings per share | 0.81 | 0.23 | 0.68 | 2.76 | 0.37 | 0.58 | -0.42 | -0.09 |
| Cash from operations | €327.0m | €350.0m | €354.0m | €207.0m | €785.0m | €804.0m | €756.0m | €517.0m |
| Capital spending | −€105.0m | −€59.0m | −€42.0m | −€238.0m | −€90.0m | −€61.0m | −€291.0m | −€88.0m |
| Free cash flow | €222.0m | €291.0m | €312.0m | −€31.0m | €695.0m | €743.0m | €465.0m | €429.0m |
| Total assets | €93.11bn | €92.00bn | €93.26bn | €91.73bn | €90.14bn | €90.63bn | €90.24bn | €91.03bn |
| Cash and short-term investments | €1.85bn | €1.80bn | €3.26bn | €3.36bn | €2.18bn | €2.85bn | €2.02bn | €2.10bn |
| Debt | €42.42bn | €4.26bn | €43.46bn | €43.20bn | €42.62bn | €43.00bn | €43.16bn | €43.78bn |
| Shareholders' equity | €27.20bn | €27.65bn | €27.47bn | €26.08bn | €24.19bn | €24.77bn | €24.00bn | €24.45bn |
Financial ratios
Data as of 27 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 50.1% | 37.9% | 47.1% | 55.6% | 61.6% | 66.0% |
| Operating margin | 51.5% | 16.9% | 33.7% | -3.9% | 166.4% | 173.6% |
| Net margin | 74.8% | -15.1% | -120.2% | -13.0% | 74.0% | 103.9% |
| Return on equity | 13.6% | -3.7% | -24.5% | -2.1% | 8.1% | 13.5% |
| Return on assets | 4.0% | -1.0% | -6.8% | -0.7% | 2.5% | 5.2% |
| Free cash flow yield | 13.8% | 20.5% | 14.1% | 17.2% | 13.9% | 17.9% |
| Revenue growth | -16.2% | 13.6% | 1.5% | 42.2% | 15.2% | 8.1% |
| Earnings growth | -515.5% | -85.7% | 838.9% | -125.0% | -18.0% | 175.4% |
| Current ratio | 0.97x | 1.06x | 1.34x | 0.98x | 0.75x | 0.61x |
| Debt to equity | 1.56x | 1.77x | 1.67x | 1.44x | 1.41x | 1.00x |
| Equity ratio | 29.5% | 26.6% | 27.9% | 30.9% | 31.3% | 38.7% |
| Interest coverage | 68.05x | 1.14x | 2.16x | -0.32x | 12.60x | 13.03x |
| R&D as a share of sales | 0.2% | 0.1% | 0.2% | 0.0% | 0.0% | 0.1% |
| Buybacks as a share of market value | -3.1% | -1.0% | -4.0% | 14.1% | -64.8% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.1% | 9.6% | 9.2% |
| Operating income | — | -14.0% | 14.1% |
| Net income | — | 2.6% | 14.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 43.5% | 47.3% | 51.2% | 55.7% |
| Operating margin | 32.7% | 24.1% | 59.2% | 59.8% |
| Net margin | 25.9% | -19.4% | 6.5% | 27.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 5.5 | -26.9 | -3.7 | -25.8 | 16.5 | 10.1 | 22.4 | 9.5 | 9.3 | 7.3 |
| Price to sales | 4.2 | 4.1 | 4.5 | 3.4 | 12.2 | 10.5 | 9.1 | 8.1 | 9.6 | 7.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 12 years. Last went ex-dividend on 22 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.25 | 1.22 | 0.90 | 0.85 | 1.66 | 3.056 | 1.35 | 1.237 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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