WallStSmart

Empire State Realty OP LP 250 (FISK)vsVornado Realty Trust (VNO)

VS

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%. FISK trades at a lower P/E of 224.5x. VNO earns a higher WallStSmart Score of 43/100 (D).

FISK

Hold

39

out of 100

Grade: F

Growth: 3.3Profit: 5.0Value: 4.0Quality: 5.5
Piotroski: 4/9Altman Z: 0.79

VNO

Hold

43

out of 100

Grade: D

Growth: 4.0Profit: 5.0Value: 5.3Quality: 5.5
Piotroski: 5/9Altman Z: 0.61
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

Intrinsic value data unavailable for FISK.

VNOUndervalued (+34.3%)

Margin of Safety

+34.3%

Fair Value

$46.04

Current Price

$35.44

$10.60 discount

UndervaluedFair: $46.04Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

FISK1 strengths · Avg: 10.0/10
Price/BookValuation
0.7x10/10

Reasonable price relative to book value

VNO1 strengths · Avg: 10.0/10
Price/BookValuation
1.4x10/10

Reasonable price relative to book value

Areas to Watch

FISK4 concerns · Avg: 3.3/10
Revenue GrowthGrowth
3.2%4/10

3.2% revenue growth

Market CapQuality
$1.26B3/10

Smaller company, higher risk/reward

Return on EquityProfitability
3.7%3/10

ROE of 3.7% — below average capital efficiency

Profit MarginProfitability
1.2%3/10

1.2% margin — thin

VNO4 concerns · Avg: 3.0/10
PEG RatioValuation
2.204/10

Expensive relative to growth rate

Profit MarginProfitability
3.6%3/10

3.6% margin — thin

Debt/EquityHealth
1.573/10

Elevated debt levels

P/E RatioValuation
1175.3x2/10

Premium valuation, high expectations priced in

Comparative Analysis Report

WallStSmart Research

Bull Case : FISK

The strongest argument for FISK centers on Price/Book.

Bull Case : VNO

The strongest argument for VNO centers on Price/Book.

Bear Case : FISK

The primary concerns for FISK are Revenue Growth, Market Cap, Return on Equity. A P/E of 224.5x 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 1175.3x leaves little room for execution misses. Debt-to-equity of 1.57 is elevated, increasing financial risk.

Key Dynamics to Monitor

VNO carries more volatility with a beta of 1.54 — expect wider price swings.

VNO is growing revenue faster at 5.0% — sustainability is the question.

VNO generates stronger free cash flow (43M), 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). 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 250

REAL ESTATE · REIT - OFFICE · USA

Empire State Realty OP, L.P. is a subsidiary of Empire State Realty Trust, Inc.

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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.

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