VNO
Vornado Realty Trust
NYSE: VNO · REAL ESTATE · REIT - OFFICE
$29.35
-3.14% today
Updated 2026-04-29
Market cap
$6.02B
P/E ratio
6.99
P/S ratio
3.23x
EPS (TTM)
$4.20
Dividend yield
2.44%
52W range
$25 – $42
Volume
2.1M
Vornado Realty Trust (VNO) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.71B | $2.97B | $2.70B | $2.74B | $2.78B | $2.92B | $2.77B | $2.76B | $2.64B | $2.50B | $2.51B | $2.08B | $2.16B | $1.92B | $1.53B | $1.59B | $1.80B | $1.81B | $1.79B | $1.81B |
| Revenue growth (YoY) | — | +9.6% | -9.3% | +1.7% | +1.4% | +4.9% | -5.1% | -0.2% | -4.5% | -5.1% | +0.2% | -16.8% | +3.8% | -11.0% | -20.6% | +4.0% | +13.3% | +0.6% | -1.3% | +1.3% |
| Cost of revenue | $1.37B | $1.63B | $1.07B | $1.09B | $1.10B | $1.24B | $1.25B | $1.09B | $1.06B | $1.01B | $1.02B | $886.60M | $963.48M | $917.98M | $789.07M | $797.32M | $873.91M | $905.16M | $927.80M | $1.38B |
| Gross profit | $1.35B | $1.34B | $1.63B | $1.65B | $1.68B | $1.68B | $1.52B | $1.67B | $1.57B | $1.49B | $1.48B | $1.20B | $1.20B | $1.01B | $738.88M | $791.89M | $926.08M | $906.00M | $1.79B | $1.81B |
| Gross margin | 49.6% | 45.1% | 60.3% | 60.3% | 60.4% | 57.6% | 54.9% | 60.6% | 59.6% | 59.6% | 59.1% | 57.5% | 55.5% | 52.3% | 48.4% | 49.8% | 51.4% | 50.0% | 100.0% | 100.0% |
| R&D | — | — | — | $0.00 | $0.00 | $0.00 | $226.62M | $32.21M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — |
| SG&A | $221.36M | $232.07M | $194.03M | $231.69M | $214.22M | $209.98M | $201.89M | $211.10M | $185.92M | $175.31M | $179.28M | $159.00M | $141.87M | $169.92M | $181.51M | $134.54M | $133.73M | $162.88M | $148.52M | $156.12M |
| Operating income | $726.91M | $1.23B | $814.03M | $795.78M | $805.86M | $856.15M | $677.63M | $874.19M | $815.64M | $760.25M | $550.79M | $607.37M | $582.96M | $417.69M | $144.31M | $245.00M | $287.85M | $300.58M | $263.87M | $272.15M |
| Operating margin | 26.8% | 41.4% | 30.2% | 29.0% | 29.0% | 29.4% | 24.5% | 31.7% | 30.9% | 30.4% | 22.0% | 29.1% | 26.9% | 21.7% | 9.4% | 15.4% | 16.0% | 16.6% | 14.8% | 15.0% |
| EBITDA | $1.15B | $1.70B | $1.21B | $1.26B | $1.59B | $1.68B | $1.50B | $1.16B | $1.38B | $1.31B | $1.48B | $1.16B | $1.25B | $4.14B | $203.52M | $840.50M | $423.31M | $845.61M | $880.61M | $1.77B |
| EBITDA margin | 42.4% | 57.0% | 44.7% | 45.9% | 57.0% | 57.6% | 54.3% | 41.8% | 52.5% | 52.3% | 59.0% | 55.7% | 57.7% | 215.1% | 13.3% | 52.9% | 23.5% | 46.7% | 49.3% | 97.6% |
| EBIT | $736.44M | $1.23B | $628.00M | $699.34M | $1.03B | $1.10B | $944.12M | $593.30M | $800.12M | $742.00M | $14.25M | $-658.29M | $-380.38M | $3.70B | $-214.42M | $407.91M | $-102.99M | $388.03M | $411.19M | $1.29B |
| Interest expense | $476.46M | $634.55M | $596.18M | $634.28M | $560.27M | $544.01M | $500.36M | $483.19M | $349.97M | $318.72M | $330.24M | $345.65M | $347.95M | $286.62M | $229.25M | $231.10M | $279.76M | $349.22M | $390.27M | $353.87M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $560.14M | $635.69M | $395.04M | $106.17M | $647.88M | $662.30M | $617.26M | $475.97M | $864.85M | $760.43M | $960.57M | $227.42M | $449.95M | $3.15B | $-297.00M | $176.00M | $-346.50M | $105.49M | $70.39M | $904.96M |
| Net income growth (YoY) | — | +13.5% | -37.9% | -73.1% | +510.2% | +2.2% | -6.8% | -22.9% | +81.7% | -12.1% | +26.3% | -76.3% | +97.9% | +599.6% | -109.4% | +159.3% | -296.9% | +130.4% | -33.3% | +1185.7% |
| Profit margin | 20.7% | 21.4% | 14.6% | 3.9% | 23.3% | 22.7% | 22.3% | 17.2% | 32.8% | 30.4% | 38.3% | 10.9% | 20.8% | 163.6% | -19.4% | 11.1% | -19.2% | 5.8% | 3.9% | 50.0% |