Saturday 10 October 2026 Export all VNO data to Excel Powerpack

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. In the quarter to June 2026, revenue grew 4.71%, EPS fell 97.9%, free cash flow fell 90.5% and total debt rose 4.92%, each against the same quarter a year earlier. Insiders bought in the last twelve months.

33.63 0.18 −0.53%

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Market cap: $6.9B
P/E: 1,681×
Fwd P/E: −1,761×
Dividend yield: 2.20%
F-score: 8/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 5.70

Total sells 7.94

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	2	1	—	—	1	—	—	—	—
Sell	—	—	—	—	—	—	—	1	—	—	1	—

Insider Ownership 7.61%

Capital & Financial Ratios $m

Market Cap 6,880.00

Revenue 1,828.76

Net Income 41.32

Free Cash Flow 29.42

Net Debt 6,489.33

Current Ratio 5.24

Debt/Equity 1.25

P/E ratio 1,680.50

Fwd P/E (1,761.00)

P/S ratio 3.44

P/B ratio 1.32

Past 5Y EPS Growth —

This Y EPS Growth (106.64%)

Next Y EPS Growth 98.10%

Next Y revenue growth 3.90%

Next 5Y EPS Growth 7.72%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 96.83%

10-year low 10-year high

P/S against its own 10 years 23.89%

10-year low 10-year high

P/B against its own 10 years 34.16%

10-year low 10-year high

EV/Sales against its own 10 years 22.53%

10-year low 10-year high

EV/FCF against its own 10 years 78.70%

10-year low 10-year high

Dividends

Payout Ratio 37.00

Annual Dividend Rate 0.74

Annual Dividend Yield 2.20%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	Powerpack
2025	0.74	0.74
2024	0.74	0.74
2023	0.68	0.38 0.30
2022	2.12	0.53 0.53 0.53 0.53
2021	2.12	0.53 0.53 0.53 0.53
2020	2.38	0.66 0.66 0.53 0.53
2019	2.64	0.66 0.66 0.66 0.66 1.95
2018	2.52	0.63 0.63 0.63 0.63
2017	2.35	0.57 0.57 0.60 0.60
2016	2.04	0.51 0.51 0.51 0.51

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	1,262	950	1,144	955
Receivables	771	766	830	901
Inventory	—	—	—	—
Other	—	—	—	—
	2,033	1,715	1,973	1,857

	2023	2024	2025	Q'26
Payables	411	374	376	354
ST’ Debt	—	—	—	—
Other	—	—	—	—
	411	374	376	354

Compound Annual Growth %

	10y	5y	3y
Sales	(0.92%)	3.45%	0.19%
Cash Flow	6.47%	24.29%	16.35%
Earnings	2.17%	0.00%	0.00%
Book Value	(1.92%)	(2.39%)	0.44%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	459	462	—	—	—
’25	462	441	454	454	1,810
’24	436	450	443	458	1,788
’23	446	472	451	442	1,811
’22	442	453	457	447	1,800
’21	380	379	409	421	1,589
’20	445	343	364	376	1,528

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	48	164	—	—	—
’25	52	1,027	33	146	1,258
’24	31	195	105	206	538
’23	92	283	62	211	648
’22	171	260	129	239	799
’21	224	249	5	284	762
’20	51	216	(76)	233	424

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(55)	83	—	—	—
’25	(31)	875	(61)	62	846
’24	(95)	71	(5)	102	72
’23	(101)	86	(135)	34	(116)
’22	(70)	11	(60)	19	(99)
’21	66	47	(193)	106	26
’20	(168)	31	(233)	36	(333)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.12)	0.08	—	—	—
’25	0.43	3.70	0.06	0.00	4.40
’24	(0.05)	0.18	(0.10)	0.01	0.04
’23	0.03	0.24	0.28	(0.32)	0.23
’22	0.14	0.26	0.04	(2.57)	(2.13)
’21	0.02	0.25	0.20	0.06	0.53
’20	0.03	(1.03)	0.28	(1.09)	(1.83)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	63.79	71.90	59.48	58.60	27.64	35.02	20.03	12.31	22.42	29.68	Analyst estimates 2026–2028 Powerpack
	High	87.87	90.32	78.31	70.54	68.68	50.91	47.26	32.21	46.63	45.37
People
People	Employees	4,225	3,989	3,928	4,008	2,899	3,224	3,146	2,935	2,996	3,145
	Revenue/emp, $m	0.47	0.52	0.55	0.48	0.53	0.49	0.57	0.62	0.60	0.58
Income, $m
Income, $m	Revenue	2,004	2,084	2,164	1,925	1,528	1,589	1,800	1,811	1,788	1,810
	Gross margin, %	57.38	57.37	55.47	52.31	48.36	49.83	49.69	47.22	47.81	49.05
	EBT	585	320	460	3,438	(425)	197	(361)	62	43	951
	EBT margin, %	29.19	15.34	21.24	178.61	(27.83)	12.40	(20.05)	3.43	2.40	52.51
	Net income	982	264	423	3,334	(462)	208	(383)	33	20	937
	Depreciation	542	483	434	419	401	423	522	463	508	505
Per share, $
Per share, $	Revenue	10.61	11.00	11.37	10.09	7.99	8.30	9.39	9.48	9.38	9.44
	Earnings	4.36	0.85	2.02	16.23	(1.83)	0.53	(2.13)	0.23	0.04	4.40
	Cash flow	5.27	4.54	4.22	3.47	2.22	3.98	4.17	3.39	2.82	6.56
	Capex	(5.26)	(3.31)	(3.43)	(4.63)	(3.96)	(3.84)	(4.68)	(4.00)	(2.44)	(2.15)
	Free cash flow	0.01	1.23	0.79	(1.15)	(1.74)	0.14	(0.52)	(0.61)	0.38	4.41
	Book value	40.34	26.42	26.85	38.32	36.35	34.01	31.68	29.87	28.01	32.11
	Shares, m	189	190	190	191	191	192	192	191	191	192
Valuation, ×
Valuation, ×	P/E	19.46	90.96	30.56	4.10	0.00	78.98	0.00	124.78	840.80	7.60
	P/S	7.98	7.03	5.45	6.59	4.67	5.05	2.24	3.03	4.48	3.53
	P/B	2.43	3.56	2.80	1.98	1.24	1.50	0.82	1.21	1.93	1.28
	EV/Sales	11.90	10.78	9.67	9.61	8.38	9.25	6.07	6.89	8.56	6.86
	EV/FCF	24,574.80	96.44	139.60	(83.97)	(38.41)	556.86	(110.56)	(107.10)	212.22	14.69
Cash, $m
Cash, $m	Operating cash flow	995	860	803	663	424	762	799	648	538	1,258
	Capex	(994)	(627)	(653)	(883)	(758)	(735)	(898)	(765)	(466)	(413)
	Free cash flow	1	233	150	(220)	(333)	26	(99)	(116)	72	846
Balance, $m
Balance, $m	Working capital	2,145	2,484	1,294	2,005	2,055	2,053	1,818	1,622	1,341	1,597
	Total debt	9,447	9,729	9,837	7,407	7,399	8,616	8,389	8,251	8,243	7,186
	Net debt	7,851	7,815	9,120	5,799	5,669	6,686	6,896	6,990	7,293	6,042
	Shareholders’ equity	7,618	5,008	5,108	7,311	6,948	6,515	6,076	5,705	5,337	6,157
Returns, %
Returns, %	ROA	3.93	0.85	2.23	17.47	(2.02)	0.60	(2.42)	0.27	0.05	5.35
	ROIC	2.34	2.97	2.56	1.43	(0.11)	1.05	1.28	1.21	1.22	1.33
	ROE	12.89	3.03	9.24	58.25	(5.72)	1.82	(7.99)	0.92	0.19	18.47

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
BXP BXP, Inc.	$10.4B	31.7×	32.8×	+3.14% (above 0%: growing)	−23.21% (below 0%: shrinking)	+38.70% (above 0%: growing)	61.43%	28.91%	Compare
ARE Alexandria Real Estate Equities, Inc.	$8.0B	— (loss-making)	— (loss-making)	−13.03% (below 0%: shrinking)	n/m	−158.14% (below 0%: shrinking)	68.72%	17.23%	Compare
CDP COPT Defense Properties	$7.6B	23.3×	24.5×	+3.94% (above 0%: growing)	+17.65% (above 0%: growing)	+76.90% (above 0%: growing)	60.18%	32.03%	Compare
VNO Vornado Realty Trust	$6.9B	1,681×	— (loss-making)	+4.71% (above 0%: growing)	−97.93% (below 0%: shrinking)	−90.54% (below 0%: shrinking)	51.58%	5.54%
CUZ Cousins Properties Incorporated	$4.6B	691×	145×	+11.83% (above 0%: growing)	+77.78% (above 0%: growing)	+811.42% (above 0%: growing)	68.47%	24.85%	Compare
KRC Kilroy Realty Corporation	$4.0B	24.0×	155×	−6.04% (below 0%: shrinking)	−70.69% (below 0%: shrinking)	−83.18% (below 0%: shrinking)	65.29%	23.99%	Compare
SLG SL Green Realty Corporation	$3.7B	— (loss-making)	— (loss-making)	+9.13% (above 0%: growing)	n/m	+7,443.12% (above 0%: growing)	48.82%	7.84%	Compare
HIW Highwoods Properties, Inc.	$3.2B	19.0×	31.1×	+7.87% (above 0%: growing)	+400.00% (above 0%: growing)	+364.51% (above 0%: growing)	67.58%	26.47%	Compare
DEI Douglas Emmett, Inc.	$1.7B	— (loss-making)	— (loss-making)	+1.63% (above 0%: growing)	n/m	+41.06% (above 0%: growing)	63.19%	19.62%	Compare
Median of peers	$4.3B	24.0×	32.8×	+3.54%	+17.65%	+58.98%	64.24%	24.42%

All 18 Reit Office stocks →

Vornado Realty Trust (VNO) key facts

Strength: Vornado Realty Trust’s revenue for fiscal 2025 (year ended December 2025) was $1.8 billion, up 1.27% from fiscal 2024.
Vornado Realty Trust (VNO) is a Reit Office company in the Real Estate sector, listed on the New York Stock Exchange.
As of October 9, 2026, VNO traded at $33.63, a market capitalization of $6.9 billion.
Vornado Realty Trust pays an annual dividend of $0.74 per share, a yield of 2.20%.
Return on equity was 18.5% and debt-to-equity 1.25.
Its Piotroski F-score is 8 out of 9 for fiscal 2025.