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Vornado Realty Trust

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Key Metrics

Previous Close: $38.38
52-Week Range: $24.57 – $43.37
Market Cap: $7.66B
P/E (TTM): 1288.67
EPS (TTM): 0.03
Dividend Yield: 1.93%

Advanced Metrics

Price/Book: —
PEG Ratio: 7.37
Return on Equity: 0.60%
Return on Assets: 1.01%
Gross Margin: 49.59%
Operating Margin: 9.80%
Profit Margin: 3.62%
Current Ratio: 5.34
Debt/Equity: 1.22
Total Debt: $8.19B
Free Cash Flow: $445.74M
Revenue Growth: 5.00%
Earnings Growth: -97.80%
Enterprise Value: $16.79B

VNO Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$1.80B	$1.81B	$1.79B	$1.81B
Cost of Revenue	$873.91M	$905.16M	—	—
Gross Profit	$926.08M	$906.00M	—	—
Selling, General & Admin	$133.73M	$162.88M	$148.52M	$156.12M
Operating Expenses	$1.51B	$1.51B	$1.52B	$1.54B
Operating Income	$287.85M	$300.58M	$263.87M	$272.15M
EBITDA	$423.31M	$845.61M	$880.61M	$1.77B
Pretax Income	-$360.95M	$62.11M	$42.84M	$950.71M
Income Tax	$21.66M	$29.22M	$22.73M	$13.51M
Net Income	-$346.50M	$105.49M	$70.39M	$904.96M
Diluted EPS	-2.13	0.23	0.04	4.40
Diluted Shares	191.78M	191.86M	196.63M	201.05M

VNO Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$889.69M	$997.00M	$733.95M	$840.85M
Receivables	$776.14M	$771.21M	$765.87M	$995.71M
Current Assets	$2.31B	$2.03B	$1.72B	$1.97B
Total Assets	$16.49B	$16.19B	$16.00B	$15.52B
Current Liabilities	$1.07B	$1.02B	$949.01M	$1.10B
Long-Term Debt	$7.81B	$7.68B	$7.67B	$6.47B
Total Debt	$9.13B	$8.98B	$8.99B	$7.89B
Total Liabilities	$9.98B	$9.84B	$9.83B	$8.72B
Retained Earnings	-$3.89B	-$4.01B	-$4.14B	-$3.49B
Shareholders' Equity	$5.84B	$5.51B	$5.16B	$5.99B
Working Capital	$1.25B	$1.01B	$766.48M	$876.64M
Net Debt	$7.50B	$7.25B	$7.51B	$6.34B

VNO Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$798.94M	$648.15M	$537.72M	$1.26B
Free Cash Flow	$798.94M	$648.15M	$537.72M	$1.26B
Depreciation & Amortisation	$526.31M	$457.57M	$469.42M	$481.46M
Stock-Based Compensation	$29.25M	$43.20M	$30.17M	$25.48M
Investing Cash Flow	-$906.86M	-$128.79M	-$597.37M	$115.51M
Financing Cash Flow	-$801.27M	-$278.94M	-$252.32M	-$1.35B
Dividends Paid	-$468.68M	-$191.18M	-$203.22M	-$203.38M
Share Repurchases	$0.00	-$29.18M	$0.00	-$50.99M
Net Change in Cash	-$909.19M	$240.43M	-$311.96M	$27.93M

VNO Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$461.58M	$441.44M	$453.70M	$453.71M	$459.11M
Selling, General & Admin	$38.60M	$39.98M	$37.49M	$40.05M	$42.24M
Operating Expenses	$379.49M	$374.90M	$396.38M	$387.50M	$407.40M
Operating Income	$82.09M	$66.54M	$57.32M	$66.21M	$51.70M
EBITDA	$318.99M	$1.02B	$215.13M	$211.99M	$191.63M
Pretax Income	$107.02M	$817.35M	$13.65M	$12.70M	-$16.12M
Income Tax	$7.19M	$4.12M	-$5.59M	$7.78M	$5.91M
Net Income	$102.37M	$759.35M	$27.11M	$16.13M	-$7.32M
Diluted EPS	0.43	3.70	0.06	0.00	-0.12
Diluted Shares	200.74M	201.07M	200.15M	191.65M	189.68M

VNO Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$568.86M	$1.20B	$1.01B	$840.85M	$1.08B
Receivables	$782.25M	$931.24M	$979.94M	$995.71M	$1.04B
Current Assets	$1.59B	$2.29B	$2.13B	$1.97B	$2.25B
Total Assets	$15.60B	$15.61B	$15.75B	$15.52B	$15.92B
Current Liabilities	$962.90M	$911.52M	$1.10B	$1.10B	$1.09B
Long-Term Debt	$7.22B	$6.52B	$6.47B	$6.47B	$7.00B
Total Debt	$8.53B	$7.81B	$7.89B	$7.89B	$8.41B
Total Liabilities	$9.37B	$8.59B	$8.73B	$8.72B	$9.21B
Retained Earnings	-$4.06B	-$3.31B	-$3.30B	-$3.49B	-$3.59B
Shareholders' Equity	$5.31B	$6.09B	$6.07B	$5.99B	$6.02B
Working Capital	$626.24M	$1.38B	$1.03B	$876.64M	$1.17B
Net Debt	$7.22B	$5.89B	$6.18B	$6.34B	$6.63B

VNO Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$52.03M	$1.03B	$33.17M	$146.27M	$47.75M
Free Cash Flow	$52.03M	$1.03B	$33.17M	$146.27M	$47.75M
Depreciation & Amortisation	$121.27M	$120.09M	$121.75M	$118.36M	$124.08M
Stock-Based Compensation	$6.02M	$7.52M	$5.57M	$6.37M	$5.66M
Investing Cash Flow	$275.50M	$249.65M	-$316.63M	-$93.02M	-$229.93M
Financing Cash Flow	-$470.27M	-$720.16M	$72.26M	-$227.81M	$416.15M
Dividends Paid	-$15.53M	-$15.53M	-$15.53M	-$156.80M	-$15.53M
Share Repurchases	$0.00	—	—	—	-$79.90M
Net Change in Cash	-$142.73M	$556.41M	-$211.20M	-$174.55M	$233.97M

Market Snapshot

About

Vornado Realty Trust is a fully-integrated real estate investment trust (REIT) that owns and operates premier office and retail properties primarily in Manhattan and the greater New York City area. The company is one of the largest owners and managers of commercial real estate in New York City.