Empire State Realty OP LP ES (ESBA)vsVornado Realty Trust (VNO)
ESBA
Empire State Realty OP LP ES
$5.20
-0.48%
REAL ESTATE · Cap: $1.38B
VNO
Vornado Realty Trust
$35.82
-0.14%
REAL ESTATE · Cap: $6.97B
Smart Verdict
WallStSmart Research — data-driven comparison
Vornado Realty Trust generates 140% more annual revenue ($1.88B vs $782.82M). VNO leads profitability with a 3.6% profit margin vs 1.2%. ESBA trades at a lower P/E of 245.5x. VNO earns a higher WallStSmart Score of 43/100 (D).
ESBA
Hold39
out of 100
Grade: F
VNO
Hold43
out of 100
Grade: D
Intrinsic Value Comparison
Multi-model valuation · Graham Formula
Margin of Safety
+83.6%
Fair Value
$38.77
Current Price
$5.20
$33.58 discount
Margin of Safety
+33.9%
Fair Value
$45.76
Current Price
$35.82
$9.94 discount
Key Strengths & Concerns
Side-by-side fundamental analysis
Key Strengths
Reasonable price relative to book value
Reasonable price relative to book value
Areas to Watch
3.2% revenue growth
Smaller company, higher risk/reward
ROE of 3.7% — below average capital efficiency
1.2% margin — thin
Expensive relative to growth rate
3.6% margin — thin
Elevated debt levels
Premium valuation, high expectations priced in
Comparative Analysis Report
WallStSmart ResearchBull Case : ESBA
The strongest argument for ESBA centers on Price/Book.
Bull Case : VNO
The strongest argument for VNO centers on Price/Book.
Bear Case : ESBA
The primary concerns for ESBA are Revenue Growth, Market Cap, Return on Equity. A P/E of 245.5x leaves little room for execution misses. Thin 1.2% margins leave little buffer for downturns.
Bear Case : VNO
The primary concerns for VNO are PEG Ratio, Profit Margin, Debt/Equity. A P/E of 879.8x leaves little room for execution misses. Thin 3.6% margins leave little buffer for downturns.
Key Dynamics to Monitor
VNO carries more volatility with a beta of 1.59 — expect wider price swings.
VNO is growing revenue faster at 5.0% — sustainability is the question.
ESBA generates stronger free cash flow (1M), providing more financial flexibility.
Monitor REIT - OFFICE industry trends, competitive dynamics, and regulatory changes.
Bottom Line
VNO scores higher overall (43/100 vs 39/100). ESBA offers better value entry with a 83.6% margin of safety. Both earn "Hold" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.
This analysis is generated from publicly available financial data. Not financial advice.
Empire State Realty OP LP ES
REAL ESTATE · REIT - OFFICE · USA
Empire State Realty OP, L.P. is a subsidiary of Empire State Realty Trust, Inc.
Vornado Realty Trust
REAL ESTATE · REIT - OFFICE · USA
Vornado Realty Trust is a real estate investment trust formed in Maryland, with its primary office in New York City. The company invests in office buildings and street retail in Manhattan.
Compare with Other REIT - OFFICE Stocks
Want to dig deeper into these stocks?