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 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $1.81B | $1.79B | $1.81B | $1.80B | $1.59B | $1.53B |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $156.12M | $148.52M | $162.88M | $133.73M | $134.54M | $181.51M |
| Total Operating Expenses | $1.55B | $1.54B | $1.57B | $1.53B | $1.37B | $1.55B |
| D&A | $481.46M | $469.42M | $457.57M | $526.31M | $432.59M | $417.94M |
| Operating Income | $950.71M | $42.84M | $62.11M | ($360.95M) | $197.06M | ($425.21M) |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | $13.51M | $22.73M | $29.22M | $21.66M | ($10.50M) | $36.63M |
| Net Income | $904.96M | $70.39M | $105.49M | ($346.50M) | $176.00M | ($297.00M) |
| EPS - Basic | $4.40 | $0.04 | $0.23 | ($2.13) | $0.53 | ($1.83) |
| EPS - Diluted | $4.20 | $0.04 | $0.23 | ($2.13) | $0.53 | ($1.83) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $840.85M | $733.95M | $997.00M | $889.69M | $1.76B | $1.62B |
| Accounts Receivable | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - |
| Total Assets | $15.52B | $16.00B | $16.19B | $16.49B | $17.27B | $16.22B |
| Current Liabilities | - | - | - | - | - | - |
| Long-term Debt | $2.26B | $2.57B | $2.56B | $2.56B | $2.56B | $1.82B |
| Total Liabilities | $8.72B | $9.83B | $9.84B | $9.98B | $10.06B | $8.67B |
| Stockholders' Equity | $5.99B | $5.16B | $5.51B | $5.84B | $6.24B | $6.53B |
| Retained Earnings | ($3.49B) | ($4.14B) | ($4.01B) | ($3.89B) | ($3.08B) | ($2.77B) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.26B | $537.72M | $648.15M | $798.94M | $761.81M | $424.24M |
| Investing Cash Flow | $115.51M | ($597.37M) | ($128.79M) | ($906.86M) | ($532.35M) | ($87.80M) |
| Financing Cash Flow | ($1.35B) | ($252.32M) | ($278.94M) | ($801.27M) | ($29.48M) | ($213.20M) |
| CapEx | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 52.5% | 2.4% | 3.4% | -20.1% | 12.4% | -27.8% |
| EBITDA margin | 79.1% | 28.7% | 28.7% | 9.2% | 39.6% | -0.5% |
| Net margin | 50.0% | 3.9% | 5.8% | -19.2% | 11.1% | -19.4% |
| Free cash flow margin | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 8.6% | 8.3% | 9.0% | 7.4% | 8.5% | 11.9% |
| Effective tax rate | 1.5% | 24.4% | 21.7% | - | -6.3% | - |
| Return on assets | 5.8% | 0.4% | 0.7% | -2.1% | 1.0% | -1.8% |
| Return on equity | 15.1% | 1.4% | 1.9% | -5.9% | 2.8% | -4.5% |
| Return on invested capital | 11.4% | 0.4% | 0.6% | -3.4% | 2.2% | -4.0% |
| Liquidity | ||||||
| Current ratio | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - |
| Leverage | ||||||
| Debt / Equity | 0.38 | 0.50 | 0.47 | 0.44 | 0.41 | 0.28 |
| Debt / Assets | 0.15 | 0.16 | 0.16 | 0.16 | 0.15 | 0.11 |
| Debt / EBITDA | 1.58 | 5.01 | 4.93 | 15.48 | 4.07 | - |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 2.59 | 3.10 | 2.94 | 2.82 | 2.77 | 2.48 |
| Liabilities / Assets | 0.56 | 0.61 | 0.61 | 0.61 | 0.58 | 0.53 |
| Efficiency | ||||||
| Asset turnover | 0.12 | 0.11 | 0.11 | 0.11 | 0.09 | 0.09 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 7.9x | 1051.0x | 122.8x | - | 79.0x | - |
| P / B | 1.1x | 1.6x | 1.0x | 0.7x | 1.3x | 1.1x |
| P / S | 3.7x | 4.6x | 3.0x | 2.2x | 5.1x | 4.7x |
| EV / EBITDA | 5.7x | 19.7x | 13.4x | 34.2x | 14.0x | - |
| Growth | ||||||
| Revenue growth (YoY) | 1.3% | -1.3% | 0.6% | 13.3% | 4.0% | -26.7% |
| Revenue CAGR (3y) | 0.2% | 4.0% | 5.8% | -4.8% | -7.4% | - |
| Revenue CAGR (5y) | 3.5% | -3.0% | -2.0% | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | 2119.0% | -31.0% | - | - | - | - |
| Net income growth (YoY) | 1185.7% | -33.3% | - | - | - | - |
| EPS growth (YoY) | 10400.0% | -82.6% | - | - | - | - |
| EPS CAGR (3y) | - | -57.7% | - | - | -35.9% | - |
| EPS CAGR (5y) | - | -69.9% | -35.2% | - | -34.3% | - |
| FCF growth (YoY) | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 16.1% | -6.4% | -5.7% | -6.4% | -4.5% | -3.0% |
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- -Current ratio improved
- ✗No share dilution
- -Gross margin improved
- ✓Asset turnover improved
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 |