Empire State Realty OP LP ES (ESBA)vsVornado Realty Trust (VNO)
ESBA
Empire State Realty OP LP ES
$4.71
-1.86%
REAL ESTATE · Cap: $1.49B
VNO
Vornado Realty Trust
$40.91
+2.45%
REAL ESTATE · Cap: $8.07B
Smart Verdict
WallStSmart Research — data-driven comparison
Vornado Realty Trust generates 139% more annual revenue ($1.85B vs $776.71M). VNO leads profitability with a 42.9% profit margin vs 7.8%. VNO trades at a lower P/E of 10.8x. VNO earns a higher WallStSmart Score of 61/100 (C+).
ESBA
Hold41
out of 100
Grade: D
VNO
Buy61
out of 100
Grade: C+
Intrinsic Value Comparison
Multi-model valuation · Graham Formula
Margin of Safety
+82.7%
Fair Value
$36.80
Current Price
$4.71
$32.09 discount
Margin of Safety
+33.2%
Fair Value
$45.30
Current Price
$40.91
$4.39 discount
Key Strengths & Concerns
Side-by-side fundamental analysis
Key Strengths
Reasonable price relative to book value
Attractively priced relative to earnings
Keeps 43 of every $100 in revenue as profit
Earnings expanding 1263.0% YoY
Reasonable price relative to book value
Areas to Watch
Moderate valuation
4.9% revenue growth
Smaller company, higher risk/reward
ROE of 3.7% — below average capital efficiency
Expensive relative to growth rate
Elevated debt levels
Revenue declined 2.2%
Distress zone — elevated risk
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 P/E Ratio, Profit Margin, EPS Growth. Profitability is solid with margins at 42.9% and operating margin at 13.7%.
Bear Case : ESBA
The primary concerns for ESBA are P/E Ratio, Revenue Growth, Market Cap. Debt-to-equity of 2.21 is elevated, increasing financial risk.
Bear Case : VNO
The primary concerns for VNO are PEG Ratio, Debt/Equity, Revenue Growth.
Key Dynamics to Monitor
ESBA profiles as a value stock while VNO is a declining play — different risk/reward profiles.
VNO carries more volatility with a beta of 1.53 — expect wider price swings.
ESBA is growing revenue faster at 4.9% — sustainability is the question.
ESBA generates stronger free cash flow (51M), providing more financial flexibility.
Bottom Line
VNO scores higher overall (61/100 vs 41/100), backed by strong 42.9% margins. ESBA offers better value entry with a 82.7% margin of safety. Both earn "Buy" 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?