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Saturday 7 November 2026
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Vornado Realty Trust
Vornado Realty Trust’s revenue for fiscal 2025 (year ended December 2025) was $1.8 billion, up 1.27% from fiscal 2024.
- Revenue
- +3.08%
- EPS
- −510.0%
- Free cash flow
- +35.9%
- Total debt
- +3.66%
Quarter to September 2026, against a year earlier
35.79
0.08
−0.22%
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Vornado Realty Trust (VNO) Operating margin
Vornado Realty Trust's operating margin over the twelve months to 30 September 2026 was 8.91%, down 5.4 percentage points from fiscal 2025 (14.3%). Over the past ten years it has ranged from −1.49% (fiscal 2020) to 31.2% (fiscal 2015); the current reading is higher than 45% of that period. That is below the Reit Office industry median of 17.8% and below the Real Estate sector median of 16.6%.
Operating margin, annual
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Annual newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2025 | 14.3% | 0.53 |
| FY2024 | 13.8% | 0.18 |
| FY2023 | 13.6% | (1.18) |
| FY2022 | 14.8% | 0.83 |
| FY2021 | 13.9% | 15.42 |
| FY2020 | −1.49% | (17.05) |
| FY2019 | 15.6% | (11.38) |
| FY2018 | 26.9% | (2.26) |
| FY2017 | 29.2% | 0.26 |
| FY2016 | 28.9% | (2.26) |
Quarterly newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| Sep 2026 | 4.77% | (0.77) |
| Jun 2026 | 5.54% | (5.43) |
| Mar 2026 | 11.0% | (3.54) |
| Dec 2025 | 14.5% | 4.15 |
| 43 more quarters | Free account |
Against its own ten years
Low −1.49%
High 31.2%
Ten-year median
14.8%
Current reading's percentile
12
Operating margin against peers
| Company | Operating margin |
|---|---|
| BXP BXP, Inc. compare | 31.1% |
| CDP COPT Defense Properties compare | 30.2% |
| HIW Highwoods Properties, Inc. compare | 25.8% |
| CUZ Cousins Properties Incorporated compare | 23.8% |
| KRC Kilroy Realty Corporation compare | 22.9% |
| DEI Douglas Emmett, Inc. compare | 18.8% |
| ARE Alexandria Real Estate Equities, Inc. compare | 17.8% |
| VNO Vornado Realty Trust | 8.91% |
| SLG SL Green Realty Corporation compare | 6.58% |
| Reit Office industry median | 17.8% |
| Real Estate sector median | 16.6% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
More on VNO
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- The full statement