What is Vornado Realty Trust's earnings per share (EPS)?

Vornado Realty Trust (VNO) reported diluted earnings per share of $4.20 for fiscal year 2025. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Vornado Realty Trust (VNO) Financials

VNO

Trailing 12 months to June 30, 2026

Revenue $1.8B +1.4% YoY

Net Income $99.9M -87.9% YoY

EPS (Diluted) $0.03 -99.3% YoY

Operating Cash Flow $390.9M -71.9% YoY

Market Cap $6.7B as of Oct 8, 2026

Price / Sales 3.7x on $1.8B revenue, trailing 12 months to June 30, 2026

Price / Earnings 67.0x on $99.9M net income, trailing 12 months to June 30, 2026

Price / Book 1.2x on $5.8B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 8, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 3, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 3, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the VNO SEC filings page.

Vornado Realty Trust (VNO) reported $1.8B in revenue over the twelve months to Jun 30, 2026, up 1.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI VNO FY2025 2026-10-03

Vornado’s 2025 figures show a property trust whose earnings and cash generation surged while its balance sheet became smaller and less leveraged.

Net income reached $937M in FY2025, and operating cash flow reached $1.26B after several years below that level. That alignment suggests the improvement was accompanied by cash generation, although these figures do not establish how recurring it is.

Total liabilities fell to $8.72B in FY2025 from $9.83B in FY2024. Long-term debt also fell to $2.26B, so the stronger equity position came alongside lower obligations rather than merely higher asset values.

Total assets declined to $15.5B in FY2025 from $16.0B in FY2024. Equity rose to $5.99B from $5.16B, indicating that the year’s balance-sheet improvement came with a smaller asset base, not property expansion.

Financial Health Signals

Financial Health Score 59/100

Scored as: REITs peer group

Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Vornado Realty Trust's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

FFO Margin

FFO Margin measures funds from operations against revenue, and funds from operations is net income with property depreciation added back, since a building written down a little further every year on paper is often worth more rather than less. Vornado Realty Trust scores 81/100 on it among other REITs.

FFO Growth

FFO Growth follows the three-year path of funds from operations, which is net income with property depreciation added back. Vornado Realty Trust scores 89/100 on it among other REITs.

Leverage

Not available for Vornado Realty Trust, and counted as zero in the overall score.

Interest Cov.

Not available for Vornado Realty Trust, and counted as zero in the overall score.

AFFO Margin

AFFO Margin takes funds from operations, subtracts the spending a REIT needs just to keep its properties in working order, and measures what is left against revenue. Vornado Realty Trust scores 83/100 on it among other REITs.

Dividend Cov.

Dividend coverage measures funds from operations against the dividends actually paid, and a figure above 1 means the payout came out of operations. Vornado Realty Trust scores 98/100 on it among other REITs.

Piotroski F-Score Partial

7/7

Vornado Realty Trust passes 7 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.34x

For every $1 of reported earnings, Vornado Realty Trust generates $1.34 in operating cash flow ($1.3B OCF vs $937.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$462.2M

YoY+4.7%

QoQ+0.7%

5Y CAGR+4.1%

Vornado Realty Trust generated $462.2M in revenue in Q2 2026. This represents an increase of 4.7% from the same quarter a year earlier. Against the prior quarter it is up 0.7%.

Net Income

$32.0M

YoY-95.8%

QoQ+536.8%

5Y CAGR-13.1%

10Y CAGR-18.3%

Vornado Realty Trust reported $32.0M in net income in Q2 2026. This represents a decrease of 95.8% from the same quarter a year earlier. Against the prior quarter it is up 536.8%.

EPS (Diluted)

$0.08

5Y CAGR-20.4%

10Y CAGR-23.5%

Vornado Realty Trust earned $0.08 per diluted share (EPS) in Q2 2026.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt

$675.4M

YoY-43.9%

QoQ-37.5%

5Y CAGR-20.8%

10Y CAGR-8.5%

Vornado Realty Trust held $675.4M in cash against $2.6B in long-term debt as of Q2 2026.

Shares Outstanding

187M

5Y CAGR-0.5%

10Y CAGR-0.1%

Vornado Realty Trust had 187M shares outstanding in Q2 2026.

Free Cash Flow

Not reported for Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Net Margin

6.9%

QoQ+8.5pp

5Y change-10.1pp

Vornado Realty Trust's net profit margin was 6.9% in Q2 2026, showing the share of revenue converted to profit. Against the prior quarter it is up 8.5 percentage points. No change is given against Q2 2025: its reported ratio is above 100.0% of revenue, so it does not read as a share of revenue.

Return on Equity

0.5%

YoY-11.9pp

QoQ+0.7pp

5Y change-0.5pp

10Y change-3.1pp

Vornado Realty Trust's ROE was 0.5% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 11.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.7 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Capital Allocation

Share Buybacks

$53.5M

QoQ-33.0%

Vornado Realty Trust spent $53.5M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. Against the prior quarter it is down 33.0%.

R&D Spending

Not reported for Q2 2026.

Capital Expenditures

Not reported for Q2 2026.

VNO Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

VNO quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$1.8B	$1.8B+1.3%	$1.8B-1.3%	$1.8B+0.6%	$1.8B+13.3%	$1.6B+4.0%	$1.5B-20.6%	$1.9B-11.0%	$2.2B+3.8%	$2.1B+4.0%	$2.0B	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$158.9M	$156.1M+5.1%	$148.5M-8.8%	$162.9M+21.8%	$133.7M-0.6%	$134.5M-25.9%	$181.5M+6.8%	$169.9M+19.8%	$141.9M-5.9%	$150.8M+5.0%	$143.6M-3.8%	$149.3M-11.8%	$169.3M-4.6%	$177.4M+6.1%	$167.2M-19.8%	$208.5M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$583.0M-4.2%	$608.7M+5.0%	$579.8M-6.4%	$619.4M-10.2%	$689.9M+2.3%	$674.6M+13.5%	$594.3M-26.8%	$812.2M
EBITDA	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$1.1B-7.3%	$1.1B-3.1%	$1.2B-0.9%	$1.2B-6.9%	$1.3B+3.0%	$1.2B+7.3%	$1.2B-17.3%	$1.4B
Interest Expense	$348.9M	$353.9M-9.3%	$390.3M+11.8%	$349.2M+24.8%	$279.8M+21.1%	$231.1M+0.8%	$229.3M-20.0%	$286.6M-17.6%	$347.9M+0.7%	$345.7M+4.7%	$330.2M+6.8%	$309.3M-25.1%	$412.8M-3.1%	$425.8M-1.3%	$431.2M-16.9%	$519.2M
Income Tax	$11.7M	$13.5M-40.6%	$22.7M-22.2%	$29.2M+34.9%	$21.7M+306.4%	-$10.5M-128.7%	$36.6M-64.6%	$103.4M+174.9%	$37.6M-11.2%	$42.4M+434.8%	$7.9M+109.3%	-$85.0M-1016.0%	$9.3M+206.5%	-$8.7M-207.2%	$8.1M-66.0%	$23.9M
Net Income	$99.9M	$937.0M+4585.0%	$20.0M-39.4%	$33.0M+108.6%	-$383.0M-284.1%	$208.0M+170.0%	-$297.0M-109.4%	$3.1B+599.6%	$450.0M+97.9%	$227.4M-74.9%	$906.9M+19.3%	$760.4M-12.1%	$864.9M+81.7%	$476.0M-22.9%	$617.3M-6.8%	$662.3M
EPS (Basic)	N/A	$4.40+10900.0%	$0.04-82.6%	$0.23+110.8%	-$2.13-501.9%	$0.53+129.0%	-$1.83-111.3%	$16.23+703.5%	$2.02+137.6%	$0.85-80.5%	$4.36+20.8%	$3.61-13.6%	$4.18+99.0%	$2.10-28.8%	$2.95-9.5%	$3.26
EPS (Diluted)	$0.03	$4.20	$0.04	$0.23+110.8%	-$2.13	$0.53	-$1.83-111.3%	$16.21+706.5%	$2.01+136.5%	$0.85-80.4%	$4.34+20.9%	$3.59-13.5%	$4.15+98.6%	$2.09-28.9%	$2.94-9.0%	$3.23
Diluted Shares (Avg)	N/A	201M	197M	192M0.0%	192M	192M	191M0.0%	191M-0.1%	191M0.0%	191M+0.6%	190M+0.3%	190M+0.5%	189M+0.5%	188M+0.6%	187M+0.3%	186M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$462.2M+4.7%	$459.1M-0.5%	$453.7M-0.9%	$453.7M+2.4%	$441.4M-2.0%	$461.6M+5.8%	$457.8M+3.6%	$443.3M-1.7%
SG&A Expenses	$39.1M-2.2%	$42.2M+9.5%	$40.0M+9.3%	$37.5M+5.6%	$40.0M+3.9%	$38.6M+1.8%	$36.6M-20.4%	$35.5M-0.9%
Interest Expense	$89.6M+1.9%	$89.2M-6.9%	$85.7M-14.7%	$84.5M-16.3%	$87.9M-10.6%	$95.8M+5.9%	$100.5M+14.6%	$100.9M+14.5%
Income Tax	$3.6M-13.4%	$5.9M-17.9%	$7.8M+33.7%	-$5.6M-214.5%	$4.1M-22.0%	$7.2M+6.7%	$5.8M-30.5%	$4.9M-58.2%
Net Income	$32.0M-95.8%	-$7.3M-107.1%	$48.2M+243.1%	$27.1M+847.8%	$759.3M+1395.1%	$102.4M+1476.1%	-$33.7M+71.5%	-$3.6M-105.3%
EPS (Basic)	$0.09-97.7%	-$0.12-126.7%	$0.01	$0.06+160.0%	$3.87+1936.8%	$0.45+1000.0%	$0.00+100.0%	-$0.10-135.7%
EPS (Diluted)	$0.08	-$0.12	$0.01	$0.06	$3.70+1955.6%	$0.43+960.0%	$0.00+100.0%	-$0.10
Diluted Shares (Avg)	194M	190M	N/A	200M	201M+3.4%	201M+5.4%	N/A	191M

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA.

VNO Balance Sheet

VNO quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$15.5B-3.0%	$16.0B-1.2%	$16.2B-1.9%	$16.5B-4.5%	$17.3B+6.4%	$16.2B-11.3%	$18.3B+6.4%	$17.2B-1.2%	$17.4B-16.4%	$20.8B-1.6%	$21.1B-0.1%	$21.2B+5.7%	$20.0B-9.3%	$22.1B+7.9%	$20.4B
Cash & Equivalents	$840.9M+14.6%	$733.9M-26.4%	$997.0M+12.1%	$889.7M-49.5%	$1.8B+8.4%	$1.6B+7.2%	$1.5B+165.4%	$570.9M-68.6%	$1.8B+21.1%	$1.5B-18.2%	$1.8B+53.2%	$1.2B+105.5%	$583.3M-39.3%	$960.3M+58.3%	$606.6M
Short-Term Investments	$0	$0	$0-100.0%	$472.0M	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$77.1M+31.1%	$58.9M-15.4%	$69.5M-14.3%	$81.2M+1.9%	$79.7M+2.6%	$77.7M-18.9%	$95.7M+30.6%	$73.3M+24.9%	$58.7M-3.9%	$61.1M-37.7%	$98.1M-10.9%	$110.0M+1.7%	$108.2M-44.7%	$195.7M+13.9%	$171.8M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$8.7B-11.3%	$9.8B-0.2%	$9.8B-1.4%	$10.0B-0.8%	$10.1B+16.1%	$8.7B-14.1%	$10.1B-10.6%	$11.3B-1.0%	$11.4B-4.3%	$11.9B-4.2%	$12.4B+0.9%	$12.3B+7.2%	$11.5B-13.0%	$13.2B+12.2%	$11.8B
Long-Term Debt	$2.3B-11.8%	$2.6B+0.1%	$2.6B+0.1%	$2.6B-0.1%	$2.6B+40.9%	$1.8B+2.9%	$1.8B+5.9%	$1.7B+4.8%	$1.6B+19.4%	$1.3B-15.5%	$1.6B+17.5%	$1.3B	N/A	N/A	N/A
Total Equity	$6.0B+16.1%	$5.2B-6.4%	$5.5B-5.7%	$5.8B-6.4%	$6.2B-4.5%	$6.5B-3.0%	$6.7B+50.8%	$4.5B+2.9%	$4.3B-37.1%	$6.9B+3.0%	$6.7B-0.7%	$6.7B-0.3%	$6.8B-1.3%	$6.9B+0.3%	$6.8B
Retained Earnings	-$3.5B+15.7%	-$4.1B-3.3%	-$4.0B-2.9%	-$3.9B-26.5%	-$3.1B-11.0%	-$2.8B-42.0%	-$2.0B+53.1%	-$4.2B+0.4%	-$4.2B-194.7%	-$1.4B+19.7%	-$1.8B-17.4%	-$1.5B+13.2%	-$1.7B-10.3%	-$1.6B-12.2%	-$1.4B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$15.6B0.0%	$15.9B+2.1%	$15.5B-3.0%	$15.7B-2.1%	$15.6B-3.7%	$15.6B-3.8%	$16.0B-1.2%	$16.1B-2.2%
Cash & Equivalents	$675.4M-43.9%	$1.1B+90.1%	$840.9M+14.6%	$1.0B+28.9%	$1.2B+38.1%	$568.9M-36.3%	$733.9M-26.4%	$783.6M-21.7%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$97.6M+49.6%	$98.0M+38.2%	$77.1M+31.1%	$89.3M+24.0%	$65.2M-8.4%	$70.9M-7.4%	$58.9M-15.4%	$72.1M-18.5%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$8.9B+3.7%	$9.2B-1.7%	$8.7B-11.3%	$8.7B-11.1%	$8.6B-12.3%	$9.4B-4.7%	$9.8B-0.2%	$9.8B-0.9%
Long-Term Debt	$2.6B+22.7%	$2.8B+32.2%	$2.3B-11.8%	$2.3B-11.8%	$2.1B-17.4%	$2.1B-17.4%	$2.6B+0.1%	$2.6B+0.1%
Total Equity	$5.8B-5.0%	$6.0B+13.2%	$6.0B+16.1%	$6.1B+14.9%	$6.1B+8.3%	$5.3B-4.1%	$5.2B-6.4%	$5.3B-9.2%
Retained Earnings	-$3.6B-9.7%	-$3.6B+11.4%	-$3.5B+15.7%	-$3.3B+17.5%	-$3.3B+16.9%	-$4.1B-0.9%	-$4.1B-3.3%	-$4.0B-2.9%

Not reported in any period shown, so not listed: Current Assets, Inventory, Goodwill, Current Liabilities, Non-Current Liabilities.

VNO Cash Flow Statement

VNO quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$390.9M	$1.3B+134.0%	$537.7M-17.0%	$648.2M-18.9%	$798.9M+4.9%	$761.8M+79.6%	$424.2M-36.0%	$662.5M-17.5%	$802.6M-6.7%	$860.1M-13.6%	$995.1M+48.1%	$672.1M-40.8%	$1.1B+9.1%	$1.0B+26.1%	$825.0M+17.4%	$702.5M
Depreciation & Amortization	N/A	$481.5M+2.6%	$469.4M+2.6%	$457.6M-13.1%	$526.3M+21.7%	$432.6M+3.5%	$417.9M-4.8%	$438.9M-7.2%	$472.8M-10.8%	$529.8M-11.0%	$595.3M+5.1%	$566.2M-2.9%	$583.4M+3.8%	$562.0M+0.7%	$557.9M-4.0%	$581.0M
Stock-Based Compensation	N/A	$25.5M-15.6%	$30.2M-30.2%	$43.2M+47.7%	$29.2M-23.7%	$38.3M-21.3%	$48.7M-9.7%	$53.9M+69.9%	$31.7M-3.4%	$32.8M-3.4%	$34.0M-14.7%	$39.8M+8.7%	$36.6M+4.9%	$34.9M+14.1%	$30.6M+6.0%	$28.9M
Investing Cash Flow	-$908.3M	$115.5M+119.3%	-$597.4M-363.8%	-$128.8M+85.8%	-$906.9M-70.4%	-$532.3M-506.3%	-$87.8M-103.6%	$2.5B+380.6%	-$877.7M-325.4%	-$206.3M+76.9%	-$893.1M-21.9%	-$732.4M-27.5%	-$574.5M-179.6%	$722.1M+212.4%	-$642.3M-289.8%	-$164.8M
Financing Cash Flow	-$57.0M	-$1.3B-433.4%	-$252.3M+9.5%	-$278.9M+65.2%	-$801.3M-2618.3%	-$29.5M+86.2%	-$213.2M+90.5%	-$2.2B-99.1%	-$1.1B-231.9%	-$338.3M+24.2%	-$446.2M-172.1%	$618.9M+1038.8%	$54.3M+102.5%	-$2.1B-1351.6%	$171.0M+127.5%	-$622.0M
Dividends Paid	N/A	$141.3M+0.1%	$141.1M+9.3%	$129.1M-68.3%	$406.6M+0.1%	$406.1M-50.9%	$827.3M+64.2%	$503.8M+5.1%	$479.3M-3.5%	$496.5M+4.3%	$476.0M+0.3%	$474.8M-13.3%	$547.8M+0.4%	$545.9M-21.9%	$699.3M+37.5%	$508.7M
Share Buybacks	N/A	$51.0M	$0-100.0%	$29.2M	$0	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$163.7M-84.1%	$47.7M-8.2%	$146.3M-29.1%	$33.2M-68.5%	$1.0B+427.5%	$52.0M+65.3%	$206.2M-2.4%	$105.4M+69.6%
Depreciation & Amortization	$171.2M+48.2%	$124.1M+2.3%	$118.1M-0.2%	$117.1M+1.0%	$115.6M+5.3%	$121.3M+6.4%	$118.3M+2.4%	$116.0M+5.1%
Stock-Based Compensation	$7.8M+3.8%	$5.7M-6.1%	N/A	$5.6M-14.8%	$7.5M-14.1%	$6.0M-19.9%	N/A	$6.5M-32.3%
Investing Cash Flow	-$268.7M-207.6%	-$229.9M-183.5%	-$93.0M+15.7%	-$316.6M-75.9%	$249.7M+239.9%	$275.5M+314.2%	-$110.3M+43.3%	-$180.0M-107.9%
Financing Cash Flow	-$317.6M+55.9%	$416.1M+188.5%	-$227.8M-29.9%	$72.3M+648.4%	-$720.2M-1391.9%	-$470.3M-2929.3%	-$175.4M-897.2%	-$13.2M+47.7%
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	$141.1M+147.0%	$0
Share Buybacks	$53.5M	$79.9M	N/A	N/A	$0	$0	$0	$0-100.0%

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.

VNO Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

VNO quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	26.9%-2.3pp	29.2%+0.3pp	28.9%	N/A	N/A	N/A	N/A	N/A
Net Margin	51.8%+50.6pp	1.1%-0.7pp	1.8%+23.1pp	-21.3%-34.4pp	13.1%+32.5pp	-19.4%	163.5%	20.8%+9.9pp	10.9%-34.4pp	45.3%	N/A	N/A	N/A	N/A	N/A
Return on Equity	15.7%+15.3pp	0.4%-0.2pp	0.6%+7.2pp	-6.6%-9.9pp	3.3%+7.9pp	-4.5%-51.3pp	46.8%+36.7pp	10.1%+4.8pp	5.2%-7.9pp	13.2%+1.8pp	11.3%-1.5pp	12.8%+5.8pp	7.0%-2.0pp	9.0%-0.7pp	9.7%
Return on Assets	6.0%+5.9pp	0.1%-0.1pp	0.2%+2.5pp	-2.3%-3.5pp	1.2%+3.0pp	-1.8%-19.0pp	17.2%+14.6pp	2.6%+1.3pp	1.3%-3.0pp	4.4%+0.8pp	3.6%-0.5pp	4.1%+1.7pp	2.4%-0.4pp	2.8%-0.4pp	3.2%
Debt-to-Equity	0.38-0.1x	0.500.0x	0.470.0x	0.440.0x	0.41+0.1x	0.280.0x	0.26-0.1x	0.370.0x	0.37+0.2x	0.190.0x	0.240.0x	0.20-1.5x	1.70-0.2x	1.93+0.2x	1.72
Asset Turnover	0.120.0x	0.110.0x	0.110.0x	0.110.0x	0.090.0x	0.090.0x	0.110.0x	0.130.0x	0.120.0x	0.10	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Net Margin	6.9%	-1.6%-23.8pp	10.6%+18.0pp	6.0%+6.8pp	172.0%	22.2%+20.7pp	-7.3%+19.4pp	-0.8%-16.0pp
Return on Equity	0.5%-11.9pp	-0.1%-2.1pp	0.8%+1.5pp	0.4%+0.5pp	12.5%+11.6pp	1.9%+1.8pp	-0.7%+1.5pp	-0.1%-1.3pp
Return on Assets	0.2%-4.7pp	-0.1%-0.7pp	0.3%+0.5pp	0.2%+0.2pp	4.9%+4.5pp	0.7%+0.6pp	-0.2%+0.5pp	0.0%-0.4pp
Debt-to-Equity	0.45+0.1x	0.47+0.1x	0.38-0.1x	0.37-0.1x	0.35-0.1x	0.40-0.1x	0.500.0x	0.490.0x
Asset Turnover	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Vornado Realty Trust VNO	FY2025	$1.8B	$937.0M	51.8%	$6.7B	59/100
Kilroy Realty Corp. KRC	FY2025	$1.1B	$303	0.0%	$4.0B	34/100
SL Green Realty Corp. SLG	FY2025	$1.0B	-$96.9M	-9.7%	$3.4B	27/100
Cousins Properties Inc. CUZ	FY2025	$993.8M	$40.5M	4.1%	$4.5B	71/100
COPT Defense Properties CDP	FY2025	$763.9M	$159.5M	20.9%	$3.8B	50/100
Douglas Emmett, Inc. DEI	FY2025	$1.0B	$16.3M	1.6%	$1.7B	44/100

Where Vornado Realty Trust Ranks

Frequently Asked Questions

What is Vornado Realty Trust's annual revenue?

Vornado Realty Trust (VNO) reported $1.8B in total revenue for fiscal year 2025. This represents a 1.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Vornado Realty Trust's revenue growing?

Vornado Realty Trust (VNO) revenue grew by 1.3% year-over-year, from $1.8B to $1.8B in fiscal year 2025.

Is Vornado Realty Trust profitable?

Yes, Vornado Realty Trust (VNO) reported a net income of $937.0M in fiscal year 2025, with a net profit margin of 51.8%.

How much debt does Vornado Realty Trust have?

As of fiscal year 2025, Vornado Realty Trust (VNO) had $840.9M in cash and equivalents against $2.3B in long-term debt.

What is Vornado Realty Trust's net profit margin?

Vornado Realty Trust (VNO) had a net profit margin of 51.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Vornado Realty Trust pay dividends?

Yes, Vornado Realty Trust (VNO) paid $0.74 per share in dividends during fiscal year 2025.

What is Vornado Realty Trust's return on equity (ROE)?

Vornado Realty Trust (VNO) has a return on equity of 15.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Vornado Realty Trust's operating cash flow?

Vornado Realty Trust (VNO) generated $1.3B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Vornado Realty Trust's total assets?

Vornado Realty Trust (VNO) had $15.5B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Vornado Realty Trust buy back shares?

Yes, Vornado Realty Trust (VNO) spent $51.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Vornado Realty Trust have outstanding?

Vornado Realty Trust (VNO) had 191M shares outstanding as of fiscal year 2025.

What is Vornado Realty Trust's debt-to-equity ratio?

Vornado Realty Trust (VNO) had a debt-to-equity ratio of 0.38 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Vornado Realty Trust's return on assets (ROA)?

Vornado Realty Trust (VNO) had a return on assets of 6.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Vornado Realty Trust's P/E ratio?

Vornado Realty Trust (VNO) trades at 67.0x earnings, its market capitalization divided by net income of $99.9M net income, trailing 12 months to June 30, 2026. The market capitalization is $6.7B as of Oct 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Vornado Realty Trust's price-to-sales ratio?

Vornado Realty Trust (VNO) trades at 3.7x sales, its market capitalization divided by revenue of $1.8B revenue, trailing 12 months to June 30, 2026. The market capitalization is $6.7B as of Oct 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Vornado Realty Trust's Piotroski F-Score?

Vornado Realty Trust (VNO) has a Piotroski F-Score of 7 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Vornado Realty Trust's earnings high quality?

Vornado Realty Trust (VNO) has an earnings quality ratio of 1.34x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Vornado Realty Trust?

Vornado Realty Trust (VNO) scores 59 out of 100 on our Financial Health Score, indicating moderate standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.