VNO · Vornado Realty Trust - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $459.11M | - | $453.70M | $441.44M | $461.58M | - | $443.25M | $450.27M | $436.38M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $42.24M | - | $37.49M | $39.98M | $38.60M | - | $35.51M | $38.48M | $37.90M | - |
| Total Operating Expenses | $408.75M | - | $406.70M | $378.74M | $378.45M | - | $392.72M | $382.39M | $377.95M | - |
| D&A | $124.08M | - | $117.12M | $115.57M | $121.27M | - | $116.01M | $109.77M | $114.01M | - |
| Operating Income | ($16.12M) | - | $13.65M | $817.35M | $107.02M | - | ($14.59M) | $45.38M | $467.0K | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $5.91M | - | ($5.59M) | $4.12M | $7.19M | - | $4.88M | $5.28M | $6.74M | - |
| Net Income | ($7.32M) | - | $27.11M | $759.35M | $102.37M | - | ($3.63M) | $50.79M | $6.50M | - |
| EPS - Basic | ($0.12) | - | $0.06 | $3.87 | $0.45 | - | ($0.10) | $0.19 | ($0.05) | - |
| EPS - Diluted | ($0.12) | - | $0.06 | $3.70 | $0.43 | - | ($0.10) | $0.18 | ($0.05) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.08B | $840.85M | $1.01B | $1.20B | $568.86M | $733.95M | $783.60M | $872.61M | $892.65M | $997.00M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - | - | - | - | - |
| Total Assets | $15.92B | $15.52B | $15.75B | $15.61B | $15.60B | $16.00B | $16.08B | $16.21B | $16.21B | $16.19B |
| Current Liabilities | - | - | - | - | - | - | - | - | - | - |
| Long-term Debt | $2.80B | $2.26B | $2.26B | $2.12B | $2.12B | $2.57B | $2.57B | $2.57B | $2.56B | $2.56B |
| Total Liabilities | $9.21B | $8.72B | $8.73B | $8.59B | $9.37B | $9.83B | $9.82B | $9.80B | $9.83B | $9.84B |
| Stockholders' Equity | $6.02B | $5.99B | $6.07B | $6.09B | $5.31B | $5.16B | $5.28B | $5.63B | $5.54B | $5.51B |
| Retained Earnings | ($3.59B) | ($3.49B) | ($3.30B) | ($3.31B) | ($4.06B) | ($4.14B) | ($4.00B) | ($3.98B) | ($4.02B) | ($4.01B) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $47.75M | - | - | - | $52.03M | - | - | - | $31.48M | - |
| Investing Cash Flow | ($229.93M) | - | - | - | $275.50M | - | - | - | ($128.63M) | - |
| Financing Cash Flow | $416.15M | - | - | - | ($470.27M) | - | - | - | ($15.52M) | - |
| CapEx | - | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | -3.5% | - | 3.0% | 185.2% | 23.2% | - | -3.3% | 10.1% | 0.1% | - |
| EBITDA margin | 23.5% | - | 28.8% | 211.3% | 49.5% | - | 22.9% | 34.5% | 26.2% | - |
| Net margin | -1.6% | - | 6.0% | 172.0% | 22.2% | - | -0.8% | 11.3% | 1.5% | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 9.2% | - | 8.3% | 9.1% | 8.4% | - | 8.0% | 8.5% | 8.7% | - |
| Effective tax rate | - | - | -26.0% | 0.5% | 6.6% | - | 388.5% | 9.4% | 50.9% | - |
| Return on assets | -0.0% | - | 0.2% | 4.9% | 0.7% | - | -0.0% | 0.3% | 0.0% | - |
| Return on equity | -0.1% | - | 0.4% | 12.5% | 1.9% | - | -0.1% | 0.9% | 0.1% | - |
| Return on invested capital | -0.1% | - | 0.2% | 9.9% | 1.3% | - | -0.1% | 0.5% | 0.0% | - |
| Liquidity | ||||||||||
| Current ratio | - | - | - | - | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - | - | - | - | - |
| Leverage | ||||||||||
| Debt / Equity | 0.47 | 0.38 | 0.37 | 0.35 | 0.40 | 0.50 | 0.49 | 0.46 | 0.46 | 0.47 |
| Debt / Assets | 0.18 | 0.15 | 0.14 | 0.14 | 0.14 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 |
| Debt / EBITDA | 25.92 | - | 17.31 | 2.27 | 9.28 | - | 25.30 | 16.53 | 22.40 | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 2.65 | 2.59 | 2.60 | 2.56 | 2.94 | 3.10 | 3.05 | 2.88 | 2.93 | 2.94 |
| Liabilities / Assets | 0.58 | 0.56 | 0.55 | 0.55 | 0.60 | 0.61 | 0.61 | 0.60 | 0.61 | 0.61 |
| Efficiency | ||||||||||
| Asset turnover | 0.03 | - | 0.03 | 0.03 | 0.03 | - | 0.03 | 0.03 | 0.03 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | 675.5x | 10.3x | 86.0x | - | - | 146.1x | - | - |
| P / B | 0.8x | - | 1.3x | 1.3x | 1.4x | - | 1.4x | 0.9x | 1.0x | - |
| P / S | 10.7x | - | 17.9x | 17.4x | 16.1x | - | 16.9x | 11.4x | 12.6x | - |
| EV / EBITDA | 61.6x | - | 71.6x | 9.2x | 39.3x | - | 91.6x | 43.8x | 62.5x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -0.5% | - | 2.4% | -2.0% | 5.8% | - | -1.7% | -4.7% | -2.1% | - |
| Revenue CAGR (3y) | 1.0% | - | -0.3% | -0.9% | 1.4% | - | 2.7% | 5.9% | 4.7% | - |
| Revenue CAGR (5y) | 3.9% | - | 4.5% | 5.2% | 0.8% | - | -1.0% | -3.6% | -4.0% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | - | - | - | 1701.0% | 22815.8% | - | - | -32.5% | -97.1% | - |
| Net income growth (YoY) | - | - | - | 1395.1% | 1476.1% | - | - | -18.0% | -68.6% | - |
| EPS growth (YoY) | - | - | - | 1955.6% | - | - | - | -25.0% | - | - |
| EPS CAGR (3y) | - | - | 14.5% | 142.3% | 45.4% | - | - | -10.4% | - | - |
| EPS CAGR (5y) | - | - | -26.5% | - | 70.3% | - | - | -57.2% | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 13.2% | 16.1% | 14.9% | 8.3% | -4.1% | -6.4% | -9.2% | -1.9% | -2.7% | -5.7% |
Peer comparison
Same SIC group: Real Estate Investment Trusts
Comparing VORNADO REALTY TRUST against the 5 most active filers in the same SIC group.
Dividends
$0.74/share trailing 12 months · 0.0% YoY
| Ex-date | Per share |
|---|---|
| Dec 18, 2025 | $0.7400 |
| Dec 16, 2024 | $0.7400 |
| Dec 14, 2023 | $0.3000 |
| Jan 27, 2023 | $0.3750 |
| Nov 4, 2022 | $0.5300 |
| Aug 5, 2022 | $0.5300 |
| May 6, 2022 | $0.5300 |
| Jan 28, 2022 | $0.5300 |
| Nov 5, 2021 | $0.5300 |
| Aug 6, 2021 | $0.5300 |
| May 7, 2021 | $0.5300 |
| Jan 29, 2021 | $0.5300 |
| Nov 6, 2020 | $0.5300 |
| Aug 7, 2020 | $0.5300 |
| May 8, 2020 | $0.6600 |
| Jan 24, 2020 | $0.6600 |
| Dec 27, 2019 | $1.9500 |
| Nov 1, 2019 | $0.6600 |
| Aug 2, 2019 | $0.6600 |
| May 3, 2019 | $0.6600 |
| Jan 25, 2019 | $0.6600 |
| Nov 2, 2018 | $0.6300 |
| Aug 3, 2018 | $0.6300 |
| May 4, 2018 | $0.6300 |