WallStSmart

Orion Office Reit Inc (ONL)vsVornado Realty Trust (VNO)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Vornado Realty Trust generates 1280% more annual revenue ($1.85B vs $134.34M). VNO leads profitability with a 42.9% profit margin vs -106.8%. VNO earns a higher WallStSmart Score of 61/100 (C+).

ONL

Avoid

35

out of 100

Grade: F

Growth: 2.7Profit: 3.0Value: 5.3Quality: 3.5
Piotroski: 3/9Altman Z: -0.16

VNO

Buy

61

out of 100

Grade: C+

Growth: 5.3Profit: 6.5Value: 8.0Quality: 5.0
Piotroski: 5/9Altman Z: 0.61
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

ONLUndervalued (+13.9%)

Margin of Safety

+13.9%

Fair Value

$3.01

Current Price

$2.89

$0.12 discount

UndervaluedFair: $3.01Overvalued
VNOUndervalued (+33.4%)

Margin of Safety

+33.4%

Fair Value

$45.44

Current Price

$39.32

$6.12 discount

UndervaluedFair: $45.44Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

ONL1 strengths · Avg: 10.0/10
Price/BookValuation
0.3x10/10

Reasonable price relative to book value

VNO4 strengths · Avg: 9.5/10
P/E RatioValuation
10.4x10/10

Attractively priced relative to earnings

Profit MarginProfitability
42.9%10/10

Keeps 43 of every $100 in revenue as profit

EPS GrowthGrowth
1263.0%10/10

Earnings expanding 1263.0% YoY

Price/BookValuation
1.5x8/10

Reasonable price relative to book value

Areas to Watch

ONL4 concerns · Avg: 3.0/10
EPS GrowthGrowth
0.0%4/10

0.0% earnings growth

Market CapQuality
$163.10M3/10

Smaller company, higher risk/reward

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

Return on EquityProfitability
-23.6%2/10

ROE of -23.6% — below average capital efficiency

VNO4 concerns · Avg: 2.8/10
PEG RatioValuation
2.204/10

Expensive relative to growth rate

Debt/EquityHealth
1.403/10

Elevated debt levels

Revenue GrowthGrowth
-2.2%2/10

Revenue declined 2.2%

Altman Z-ScoreHealth
0.612/10

Distress zone — elevated risk

Comparative Analysis Report

WallStSmart Research

Bull Case : ONL

The strongest argument for ONL 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 : ONL

The primary concerns for ONL are EPS Growth, Market Cap, Piotroski F-Score.

Bear Case : VNO

The primary concerns for VNO are PEG Ratio, Debt/Equity, Revenue Growth.

Key Dynamics to Monitor

ONL profiles as a turnaround stock while VNO is a declining play — different risk/reward profiles.

ONL carries more volatility with a beta of 1.59 — expect wider price swings.

VNO is growing revenue faster at -2.2% — sustainability is the question.

VNO generates stronger free cash flow (48M), providing more financial flexibility.

Bottom Line

VNO scores higher overall (61/100 vs 35/100), backed by strong 42.9% margins. Both earn "Buy" and "Avoid" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Orion Office Reit Inc

REAL ESTATE · REIT - OFFICE · USA

Orion REIT Inc. (NYSE: ONL.

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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