Cousins Properties vs Vornado Realty Trust
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KIRA’s take AI analyst
I put Cousins Properties and Vornado Realty Trust side by side, using each one’s latest annual report. Here is what stands out:
- Vornado Realty Trust is the larger business, with $1.8B of revenue in fiscal 2025 against $994M for Cousins Properties, about 1.8 times as much.
- Cousins Properties grew revenue faster (16.0%, against 1.3%).
- Vornado Realty Trust turned more of its sales into free cash flow (53.1% FCF margin, against 13.6%).
- Vornado Realty Trust earned a higher return on the capital invested in it (17.4%, against 6.7%).
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
Cousins Properties
CUZ
2/8
Revenue growth5-year growth
Vornado Realty Trust
VNO
6/8
Net marginFCF marginReturn on capitalReturn on equityNet debt / EBITDAShare count change
Side by side
Best in the row
| Latest fiscal year | CUZ FY25 | VNO FY25 |
|---|---|---|
| Size | ||
| Market cap | $4.8B | $6.8B |
| Revenue | $994M | $1.8B |
| Free cash flow | $135M | $962M |
| Net income | $40.5M | $905M |
| Growth | ||
| Revenue growth | 16.0% | 1.3% |
| 5-year growth | 6.1% | 3.5% |
| Share count change | 9.6% | 2.3% |
| Profitability | ||
| Gross margin | 68.4% | — |
| Operating margin | 67.8% | — |
| Net margin | 4.1% | 50.0% |
| FCF margin | 13.6% | 53.1% |
| Return on capital | 6.7% | 17.4% |
| Return on equity | 0.9% | 16.2% |
| Balance sheet | ||
| Net debt | $3.3B | $1.4B |
| Net debt / EBITDA | 3.1x | 0.8x |
| Dividends and buybacks | $216M | $192M |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | — | — |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.