Vonovia SE (VNA) - Net Assets
Based on the latest financial reports, Vonovia SE (VNA) has net assets worth €31.56 Billion EUR (≈ $36.90 Billion USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€91.73 Billion ≈ $107.24 Billion USD) and total liabilities (€60.17 Billion ≈ $70.34 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Vonovia SE PP&E and investment ratio to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €31.56 Billion |
| % of Total Assets | 34.41% |
| Annual Growth Rate | 19.0% |
| 5-Year Change | 13.27% |
| 10-Year Change | 137.02% |
| Growth Volatility | 28.11 |
Vonovia SE - Net Assets Trend (2005–2024)
This chart illustrates how Vonovia SE's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see VNA market cap overview.
Annual Net Assets for Vonovia SE (2005–2024)
The table below shows the annual net assets of Vonovia SE from 2005 to 2024. Also explore VNA net asset momentum to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | €28.13 Billion ≈ $32.88 Billion |
-6.07% |
| 2023-12-31 | €29.94 Billion ≈ $35.01 Billion |
-13.05% |
| 2022-12-31 | €34.44 Billion ≈ $40.26 Billion |
-5.76% |
| 2021-12-31 | €36.55 Billion ≈ $42.73 Billion |
+47.17% |
| 2020-12-31 | €24.83 Billion ≈ $29.03 Billion |
+17.86% |
| 2019-12-31 | €21.07 Billion ≈ $24.63 Billion |
+7.15% |
| 2018-12-31 | €19.66 Billion ≈ $22.99 Billion |
+17.81% |
| 2017-12-31 | €16.69 Billion ≈ $19.51 Billion |
+20.18% |
| 2016-12-31 | €13.89 Billion ≈ $16.24 Billion |
+17.03% |
| 2015-12-31 | €11.87 Billion ≈ $13.87 Billion |
+99.04% |
| 2014-12-31 | €5.96 Billion ≈ $6.97 Billion |
+56.16% |
| 2013-12-31 | €3.82 Billion ≈ $4.46 Billion |
+42.60% |
| 2012-12-31 | €2.68 Billion ≈ $3.13 Billion |
+20.07% |
| 2011-12-31 | €2.23 Billion ≈ $2.61 Billion |
+22.65% |
| 2010-12-31 | €1.82 Billion ≈ $2.13 Billion |
+11.61% |
| 2009-12-31 | €1.63 Billion ≈ $1.90 Billion |
+11.87% |
| 2008-12-31 | €1.46 Billion ≈ $1.70 Billion |
-16.29% |
| 2007-12-31 | €1.74 Billion ≈ $2.03 Billion |
+3.00% |
| 2006-12-31 | €1.69 Billion ≈ $1.97 Billion |
+63.68% |
| 2005-12-31 | €1.03 Billion ≈ $1.21 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to Vonovia SE's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 2596.2% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €21.15 Billion | 88.13% |
| Common Stock | €822.90 Million | 3.43% |
| Other Comprehensive Income | €-426.70 Million | -1.78% |
| Other Components | €2.45 Billion | 10.21% |
| Total Equity | €24.00 Billion | 100.00% |
Vonovia SE Competitors by Market Cap
The table below lists competitors of Vonovia SE ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
New China Life Insurance Co Ltd
SHG:601336
|
$19.00 Billion |
|
Bank Polska Kasa Opieki SA
WAR:PEO
|
$19.06 Billion |
|
S.P.E.E.H Hidroelectrica S.A.
RO:H2O
|
$19.09 Billion |
|
NN GROUP NV UNSP.ADR/1
F:2NN0
|
$19.09 Billion |
|
Centrais Electricas Brasileiras SA
NYSE:EBR
|
$18.99 Billion |
|
ACM Research Shanghai Inc
SHG:688082
|
$18.99 Billion |
|
POSCO Holdings Inc
NYSE:PKX
|
$18.98 Billion |
|
Repsol S.A.
MC:REP
|
$18.96 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Vonovia SE's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 25,682,600,000 to 23,996,400,000, a change of -1,686,200,000 (-6.6%).
- Net loss of 896,000,000 reduced equity.
- Dividend payments of 506,400,000 reduced retained earnings.
- Share repurchases of 547,300,000 reduced equity.
- Other comprehensive income decreased equity by 108,400,000.
- Other factors increased equity by 371,900,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €-896.00 Million | -3.73% |
| Dividends Paid | €506.40 Million | -2.11% |
| Share Repurchases | €547.30 Million | -2.28% |
| Other Comprehensive Income | €-108.40 Million | -0.45% |
| Other Changes | €371.90 Million | +1.55% |
| Total Change | €- | -6.57% |
Book Value vs Market Value Analysis
This analysis compares Vonovia SE's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.65x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 5.75x to 0.65x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2005-12-31 | €3.33 | €19.15 | x |
| 2006-12-31 | €5.51 | €19.15 | x |
| 2007-12-31 | €5.67 | €19.15 | x |
| 2008-12-31 | €4.75 | €19.15 | x |
| 2009-12-31 | €5.31 | €19.15 | x |
| 2010-12-31 | €5.93 | €19.15 | x |
| 2011-12-31 | €7.27 | €19.15 | x |
| 2012-12-31 | €8.75 | €19.15 | x |
| 2013-12-31 | €11.78 | €19.15 | x |
| 2014-12-31 | €15.15 | €19.15 | x |
| 2015-12-31 | €22.81 | €19.15 | x |
| 2016-12-31 | €22.91 | €19.15 | x |
| 2017-12-31 | €26.76 | €19.15 | x |
| 2018-12-31 | €29.60 | €19.15 | x |
| 2019-12-31 | €30.22 | €19.15 | x |
| 2020-12-31 | €34.80 | €19.15 | x |
| 2021-12-31 | €52.81 | €19.15 | x |
| 2022-12-31 | €39.75 | €19.15 | x |
| 2023-12-31 | €31.85 | €19.15 | x |
| 2024-12-31 | €29.29 | €19.15 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Vonovia SE utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -3.73%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -15.09%
- • Asset Turnover: 0.07x
- • Equity Multiplier: 3.76x
- Recent ROE (-3.73%) is below the historical average (6.42%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2005 | 16.78% | 19.11% | 0.08x | 10.66x | €68.81 Million |
| 2006 | 12.33% | 14.89% | 0.13x | 6.51x | €39.10 Million |
| 2007 | 2.68% | 3.43% | 0.12x | 6.26x | €-126.62 Million |
| 2008 | -17.76% | -24.96% | 0.10x | 7.08x | €-401.57 Million |
| 2009 | 8.71% | 11.38% | 0.12x | 6.52x | €-20.83 Million |
| 2010 | 10.58% | 16.53% | 0.11x | 5.64x | €10.52 Million |
| 2011 | 19.09% | 26.41% | 0.15x | 4.68x | €201.37 Million |
| 2012 | 6.43% | 16.10% | 0.10x | 3.98x | €-95.24 Million |
| 2013 | 12.62% | 44.98% | 0.10x | 2.91x | €99.65 Million |
| 2014 | 6.78% | 34.81% | 0.08x | 2.49x | €-190.82 Million |
| 2015 | 8.29% | 46.69% | 0.07x | 2.66x | €-198.71 Million |
| 2016 | 17.38% | 105.95% | 0.07x | 2.41x | €993.76 Million |
| 2017 | 15.24% | 102.47% | 0.06x | 2.33x | €842.46 Million |
| 2018 | 12.22% | 85.17% | 0.05x | 2.62x | €418.32 Million |
| 2019 | 5.84% | 40.78% | 0.05x | 2.78x | €-843.99 Million |
| 2020 | 13.54% | 103.86% | 0.05x | 2.59x | €853.95 Million |
| 2021 | 8.05% | 73.96% | 0.03x | 3.19x | €-648.41 Million |
| 2022 | -2.14% | -12.99% | 0.05x | 3.24x | €-3.80 Billion |
| 2023 | -24.47% | -120.21% | 0.06x | 3.58x | €-8.85 Billion |
| 2024 | -3.73% | -15.09% | 0.07x | 3.76x | €-3.30 Billion |
Industry Comparison
This section compares Vonovia SE's net assets metrics with peer companies in the Real Estate Services industry.
Industry Context
- Industry: Real Estate Services
- Average net assets among peers: $15,928,426,184
- Average return on equity (ROE) among peers: 1.84%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Vonovia SE (VNA) | €31.56 Billion | 16.78% | 1.91x | $18.99 Billion |
| Grainger PLC (1U4) | $1.74 Billion | 6.30% | 0.88x | $1.35 Billion |
| A-LIVING SM.CI.SV. H YC 1 (1V0) | $11.17 Billion | 0.94% | 0.81x | $278.62 Million |
| E-H.(CH)ENT. H. DL-00001 (1VC) | $-6.56 Billion | 0.00% | 0.00x | $1.75 Million |
| RomReal Limited (3RR) | $21.67 Million | -12.13% | 0.56x | $8.39 Million |
| Red Star Macalline Group Corporation Ltd (3S5) | $48.98 Billion | 9.15% | 1.50x | $98.80 Million |
| SOHO China Limited (45S) | $37.37 Billion | 0.16% | 0.84x | $184.58 Million |
| CELLN.TELEC.UNSP.ADR/1/2 (4720) | $13.32 Billion | -2.71% | 2.16x | $17.56 Billion |
| SHIMAO SERV.HLDGS HD-01 (5GO) | $9.23 Billion | 12.03% | 0.97x | $111.09 Million |
| SUNAC SERVIC.HLDGS HD-01 (65D) | $5.23 Billion | 3.87% | 0.88x | $254.97 Million |
| COUNTRY GARDEN SVDL-0001 (75H) | $38.78 Billion | 0.75% | 0.79x | $1.87 Billion |
About Vonovia SE
Vonovia SE operates as an integrated residential real estate company in Europe. It operates through four segments: Rental, Value-Add, Recurring Sales, and Development. The company offers property management services; property-related services; and value-added services, including maintenance and modernization of residential properties, craftsmen and residential environment organization, condominiu… Read more