Vornado Realty Trust (VNO) exhibits 41.0% gross margins and 10.3% return on invested capital within Financials (Real Estate Investment Trusts), balanced against a 7.7x enterprise multiple and 7.0% implied options volatility.
Sustained 41.0% gross profitability converts into 63.1% operating margin and 10.3% ROIC, outpacing sector cost of capital.
ROIC: 10.3% // GM: 41.0%YoY revenue trajectory of +1.3% paired with 17.91% free cash flow yield supports self-funded R&D and capital return.
REV YOY: +1.3% // FCF YLD: 17.91%Altman Z-Score of 0.73 and Piotroski F-Score of 8/9 indicate low near-term refinancing stress.
ALTMAN Z: 0.73 // F-SCORE: 8/9Trading at 7.0x trailing P/E (6.5x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.
P/E: 7.0x // EV/EBITDA: 7.7xOptions market prices a ±7.0% implied move with a 0.70 put/call ratio around $34.00 max pain.
IMPL MOVE: ±7.0% // P/C: 0.70Elevated industry capital intensity and customer concentration in Real Estate Investment Trusts require continuous execution to defend 51.8% net margins.
NET MARGIN: 51.8% // D/E: 0.61x| FILER | SIDE | $ VALUE |
|---|---|---|
| INSPECT FULL OWNERSHIP LEDGER IN OWN <GO> | ||
| STRIKE / EXP | TYPE | PREMIUM |
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| INSPECT GEX & CHAIN IN OPT <GO> | ||
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