Complete financial analysis of Vornado Realty Trust (VNO) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Vornado Realty Trust, a leading company in the REIT – Office industry within the Real Estate sector.
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Vornado Realty Trust (VNO)
About Vornado Realty Trust
Vornado's portfolio is concentrated in the nation's key market New York City along with the premier asset in both Chicago and San Francisco. Vornado is also the real estate industry leader in sustainability policy. The company owns and manages over 23 million square feet of LEED certified buildings and received the Energy Star Partner of the Year Award, Sustained Excellence 2019. In 2012, Vornado commemorated 50 years on the NYSE.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | 1993 | 1992 | 1991 | 1990 | 1989 | 1988 | 1987 | 1986 | 1985 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1.81B | 1.80B | 1.59B | 1.53B | 1.92B | 2.16B | 2.08B | 2.51B | 2.50B | 2.64B | 2.76B | 2.77B | 2.92B | 2.78B | 2.74B | 2.70B | 2.97B | 2.71B | 2.55B | 1.71B | 1.50B | 1.44B | 979.67M | 803.61M | 663.50M | 454.40M | 202.60M | 117.30M | 102.80M | 87.90M | 48.00M | 40.60M | 40.60M | 32.70M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cost of Revenue | 905.16M | 873.91M | 797.32M | 789.07M | 917.98M | 963.48M | 886.60M | 1.02B | 1.01B | 1.06B | 1.09B | 1.25B | 1.24B | 1.10B | 1.09B | 1.07B | 1.63B | 1.37B | 1.31B | 679.79M | 583.66M | 541.60M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 906.01M | 926.08M | 791.90M | 738.89M | 1.01B | 1.20B | 1.20B | 1.48B | 1.49B | 1.57B | 1.67B | 1.52B | 1.68B | 1.68B | 1.65B | 1.63B | 1.34B | 1.35B | 1.24B | 1.03B | 919.40M | 893.47M | 979.67M | 803.61M | 663.50M | 454.40M | 202.60M | 117.30M | 102.80M | 87.90M | 48.00M | 40.60M | 40.60M | 32.70M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit Ratio | 50.02% | 51.45% | 49.83% | 48.36% | 52.31% | 55.47% | 57.46% | 59.13% | 59.59% | 59.61% | 60.63% | 54.88% | 57.56% | 60.45% | 60.34% | 60.32% | 45.10% | 49.62% | 48.77% | 60.18% | 61.17% | 62.26% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Research & Development | 0.00 | -0.20 | 0.12 | -0.28 | 1.79 | 0.21 | 0.15 | 0.29 | 0.00 | 0.00 | 32.21M | 226.62M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 162.88M | 133.73M | 134.55M | 181.51M | 169.92M | 141.87M | 159.00M | 179.28M | 175.31M | 185.92M | 211.10M | 201.89M | 209.98M | 214.23M | 231.69M | 194.03M | 232.07M | 221.36M | 183.00M | 145.22M | 122.41M | 98.46M | 72.57M | 47.91M | 40.20M | 28.60M | 13.60M | 5.20M | 6.70M | 6.50M | 4.20M | 4.20M | 4.80M | 7.60M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Selling & Marketing | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 162.88M | 133.73M | 134.55M | 181.51M | 169.92M | 141.87M | 159.00M | 179.28M | 175.31M | 185.92M | 211.10M | 201.89M | 209.98M | 214.23M | 231.69M | 194.03M | 232.07M | 221.36M | 183.00M | 145.22M | 122.41M | 98.46M | 72.57M | 47.91M | 40.20M | 28.60M | 13.60M | 5.20M | 6.70M | 6.50M | 4.20M | 4.20M | 4.80M | 7.60M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Expenses | 0.00 | 504.50M | 412.35M | 399.70M | 419.11M | -31.32M | 13.23M | 7.31M | 7.66M | 10.60M | 6.70M | 7.16M | 7.83M | 7.92M | 4.32M | 537.43M | 0.00 | 397.40M | 334.96M | 242.91M | 215.03M | -27.50M | -615.43M | -447.25M | -359.50M | -215.40M | -112.30M | -44.40M | -40.10M | -39.00M | 4.10M | -8.60M | 2.60M | 3.60M | 10.40M | 10.10M | 9.90M | 14.10M | 11.00M |
| Operating Expenses | 162.88M | 638.23M | 546.89M | 581.20M | 589.03M | 588.44M | 588.39M | 744.34M | 718.26M | 722.15M | 742.31M | 719.71M | 763.79M | 744.93M | 771.19M | 731.45M | 232.07M | 618.76M | 517.96M | 388.13M | 337.44M | 304.28M | -542.85M | -399.34M | -319.30M | -186.80M | -98.70M | -39.20M | -33.40M | -32.50M | 8.30M | -4.40M | 7.40M | 11.20M | 10.40M | 10.10M | 9.90M | 14.10M | 11.00M |
| Cost & Expenses | 1.07B | 1.51B | 1.34B | 1.37B | 1.51B | 1.55B | 1.47B | 1.77B | 1.73B | 1.79B | 1.83B | 1.97B | 2.00B | 1.84B | 1.86B | 1.80B | 1.86B | 1.99B | 1.82B | 1.07B | 921.10M | 845.88M | -542.85M | -399.34M | -319.30M | -186.80M | -98.70M | -39.20M | -33.40M | -32.50M | 8.30M | -4.40M | 7.40M | 11.20M | 10.40M | 10.10M | 9.90M | 14.10M | 11.00M |
| Interest Income | 26.67M | 19.87M | 4.61M | 12.81M | 21.82M | 17.06M | 17.59M | 29.55M | 14.03M | 14.52M | 26.19M | 21.02M | 21.85M | 18.24M | 42.36M | 86.84M | 228.50M | 262.19M | 167.23M | 204.00M | 25.40M | 31.69M | 54.39M | 32.93M | 18.50M | 24.10M | 23.80M | 6.60M | 11.80M | 0.00 | 11.70M | 0.00 | 9.30M | 11.10M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Expense | 325.92M | 257.96M | 231.10M | 234.75M | 264.80M | 330.89M | 311.59M | 373.13M | 345.86M | 420.79M | 457.60M | 476.27M | 523.29M | 541.73M | 616.59M | 571.53M | 634.55M | 215.59M | 161.71M | 30.90M | 204.26M | 207.84M | 173.08M | 170.27M | 141.70M | 114.70M | 42.90M | 16.70M | 16.40M | 14.20M | 31.20M | 33.90M | 34.90M | 32.20M | 10.40M | 10.10M | 9.90M | 14.10M | 11.00M |
| Depreciation & Amortization | 457.57M | 1.46B | 1.35B | 1.61B | 1.63B | 1.63B | 1.82B | 1.46B | 566.21M | 583.41M | 562.00M | 557.89M | 580.99M | 556.31M | 559.05M | 577.34M | 462.64M | 413.16M | 346.78M | 253.82M | 219.91M | 205.83M | 123.86M | 99.85M | 83.60M | 59.20M | 47.40M | 14.70M | 11.80M | 10.80M | 11.40M | 11.50M | 11.30M | 9.70M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | 845.61M | 423.32M | 792.48M | 228.26M | 3.49B | 1.25B | 1.16B | 1.48B | 1.31B | 1.38B | 1.16B | 1.50B | 1.68B | 1.59B | 1.26B | 1.21B | 1.70B | 1.15B | 1.11B | 960.84M | 882.06M | 790.85M | 591.10M | 563.72M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 68.00M | 47.70M | 64.20M | 53.60M | 10.40M | 10.10M | 9.90M | 14.10M | 11.00M |
| EBITDA Ratio | 46.69% | 19.49% | 49.87% | 14.94% | 181.16% | 49.34% | 54.59% | 58.57% | 52.28% | 50.91% | 41.85% | 64.21% | 55.45% | 57.03% | 56.14% | 48.27% | 57.00% | 42.77% | 43.59% | 54.94% | 58.90% | 58.65% | 57.23% | 62.73% | 64.48% | 71.92% | 74.68% | 79.11% | 78.99% | 75.31% | 141.04% | 117.49% | 146.06% | 163.91% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Operating Income | 815.87M | -175.44M | 380.13M | -171.43M | 3.07B | 582.96M | 607.37M | 550.79M | 760.25M | 815.64M | 874.19M | 677.63M | 856.15M | 805.86M | 795.78M | 814.03M | 1.23B | 726.91M | 724.64M | 637.87M | 581.96M | 554.82M | 436.81M | 404.26M | 344.20M | 267.60M | 103.90M | 78.10M | 69.40M | 55.40M | 56.30M | 36.20M | 48.00M | 43.90M | 10.40M | 10.10M | 9.90M | 14.10M | 11.00M |
| Operating Income Ratio | 45.05% | -9.75% | 23.92% | -11.22% | 159.38% | 26.94% | 29.14% | 21.98% | 30.38% | 30.94% | 31.66% | 24.49% | 29.36% | 28.99% | 29.02% | 30.18% | 41.44% | 26.80% | 28.44% | 37.36% | 38.72% | 38.66% | 44.59% | 50.31% | 51.88% | 58.89% | 51.28% | 66.58% | 67.51% | 63.03% | 117.29% | 89.16% | 118.23% | 134.25% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Total Other Income/Expenses | -753.76M | -648.80M | -10.50M | -569.53M | 103.44M | -123.36M | -287.64M | 4.39M | -37.78M | -257.26M | -540.73M | -608.79M | -236.86M | -54.98M | -698.50M | -734.85M | -278.35M | -63.44M | -80.96M | 31.01M | -118.58M | -162.67M | -82.44M | -34.46M | -225.30M | -173.90M | -90.30M | -31.40M | -28.20M | -25.00M | -30.90M | -33.90M | -30.00M | -32.20M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Income Before Tax | 62.11M | -360.95M | 197.06M | -425.22M | 3.44B | 459.60M | 318.45M | 983.06M | 722.47M | 505.19M | 133.82M | 416.73M | 619.29M | 750.89M | 97.28M | 79.19M | 587.50M | 607.29M | 641.04M | 671.63M | 463.52M | 403.62M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 25.40M | 2.30M | 18.00M | 11.70M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Income Before Tax Ratio | 3.43% | -20.05% | 12.40% | -27.83% | 178.61% | 21.24% | 15.28% | 39.23% | 28.87% | 19.17% | 4.85% | 15.06% | 21.24% | 27.01% | 3.55% | 2.94% | 19.76% | 22.39% | 25.16% | 39.34% | 30.84% | 28.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 52.92% | 5.67% | 44.33% | 35.78% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Income Tax Expense | 29.22M | 21.66M | -10.50M | 36.63M | 103.44M | 37.63M | 41.09M | 8.31M | -84.70M | 11.00M | -6.41M | 8.13M | 24.83M | 22.48M | 20.74M | -204.54M | 10.53M | -28.92M | 62.39M | 60.41M | 470.00K | 195.06M | 173.08M | 170.27M | 141.70M | 114.70M | 42.90M | 16.70M | 16.40M | 14.20M | -6.40M | 1.10M | 7.50M | 4.80M | -10.40M | -10.10M | -9.90M | -14.10M | -11.00M |
| Net Income | 105.49M | -382.61M | 176.00M | -461.85M | 3.15B | 449.95M | 227.42M | 960.57M | 760.43M | 864.85M | 475.97M | 617.26M | 662.30M | 647.88M | 106.17M | 395.04M | 635.69M | 560.14M | 539.60M | 592.92M | 460.70M | 232.90M | 263.74M | 233.99M | 202.50M | 152.90M | 61.00M | 61.40M | 53.00M | 41.20M | 28.00M | 1.20M | 10.20M | 4.30M | 10.40M | 10.10M | 9.90M | 14.10M | 11.00M |
| Net Income Ratio | 5.82% | -21.26% | 11.07% | -30.23% | 163.55% | 20.80% | 10.91% | 38.33% | 30.39% | 32.81% | 17.24% | 22.31% | 22.72% | 23.31% | 3.87% | 14.65% | 21.38% | 20.65% | 21.18% | 34.73% | 30.65% | 16.23% | 26.92% | 29.12% | 30.52% | 33.65% | 30.11% | 52.34% | 51.56% | 46.87% | 58.33% | 2.96% | 25.12% | 13.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| EPS | 0.23 | -2.00 | 0.92 | -2.42 | 16.23 | 2.36 | 0.85 | 5.08 | 3.61 | 4.18 | 2.10 | 2.95 | 3.26 | 3.27 | 0.28 | 1.96 | 3.18 | 3.47 | 3.62 | 4.47 | 3.84 | 1.94 | 2.50 | 2.22 | 1.93 | 1.59 | 0.81 | 1.24 | 2.21 | 0.93 | 0.69 | 0.04 | 0.30 | 0.13 | 0.30 | 0.27 | 0.25 | 0.29 | 0.22 |
| EPS Diluted | 0.23 | -2.00 | 0.92 | -2.42 | 16.21 | 2.35 | 0.85 | 5.08 | 3.59 | 4.15 | 2.09 | 2.94 | 3.23 | 3.24 | 0.28 | 1.91 | 3.18 | 3.28 | 3.43 | 4.27 | 3.73 | 1.87 | 2.42 | 2.16 | 1.90 | 1.56 | 0.77 | 1.23 | 2.21 | 0.93 | 0.60 | 0.04 | 0.30 | 0.13 | 0.30 | 0.27 | 0.25 | 0.29 | 0.22 |
| Weighted Avg Shares Out | 191.01M | 191.78M | 191.55M | 191.15M | 190.80M | 190.51M | 189.53M | 188.84M | 188.35M | 187.57M | 186.94M | 185.81M | 184.31M | 182.34M | 171.60M | 153.90M | 151.95M | 144.96M | 143.81M | 127.73M | 114.57M | 107.99M | 90.88M | 88.24M | 87.54M | 82.59M | 55.91M | 49.70M | 47.45M | 44.46M | 40.79M | 30.60M | 33.56M | 33.73M | 34.21M | 36.79M | 40.39M | 47.93M | 50.99M |
| Weighted Avg Shares Out (Dil) | 191.86M | 191.78M | 192.12M | 191.15M | 191.05M | 191.46M | 191.26M | 189.10M | 189.56M | 188.69M | 187.71M | 186.53M | 186.02M | 184.16M | 173.50M | 158.12M | 151.95M | 153.39M | 143.81M | 135.78M | 118.97M | 111.84M | 93.90M | 90.45M | 88.89M | 84.15M | 58.74M | 50.09M | 47.45M | 44.46M | 46.81M | 30.60M | 33.56M | 33.73M | 34.21M | 36.79M | 40.39M | 47.93M | 50.99M |
Vornado Announces Fourth Quarter 2023 Financial Results
NEW YORK, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE: VNO) reported today: Quarter Ended December 31, 2023 Financial Results NET LOSS attributable to common shareholders for the quarter ended December 31, 2023 was $61,013,000, or $0.32 per...
Vornado Declares Quarterly Dividends On Preferred Shares
NEW YORK, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) announced today that its Board of Trustees has declared the following quarterly preferred dividends:
Curious about Vornado (VNO) Q4 Performance? Explore Wall Street Estimates for Key Metrics
Get a deeper insight into the potential performance of Vornado (VNO) for the quarter ended December 2023 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.
Vornado Realty: I Backed Up The Truck Ahead Of Earnings
Vornado Realty's preferred shares are trading at a near 40% discount to their liquidation value. I've been buying the Series N, which currently offers an 8.56% yield on cost. VNO currently spends $15.5 million per quarter on quarterly payments to...
Vornado Announces Fourth Quarter Earnings Release Date, Conference Call Information and Anticipated Preferred Share Dividend Declaration Date
NEW YORK, Jan. 17, 2024 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) announced today that it will file its annual report on Form 10-K for the year ended December 31, 2023 with the U.S. Securities and Exchange Commission and issue...
Vornado: Valuation Normalized (Downgrade To Hold)
Vornado Realty Trust's shares have appreciated by almost 70% due to improved risk sentiment. The stock's steep discount to book value has been closed. However, office real estate fundamentals remain challenging, with vacancy rates at all-time highs. Vornado also has...
KCI Research On REITs, Dividends And Contrarian Investing
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Vornado Realty Trust Names Cushman & Wakefield to Launch Leasing Program at Reinvented PENN 2 Office Tower in the Heart of Vornado's PENN DISTRICT Campus
NEW YORK, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) today named Cushman & Wakefield as the exclusive leasing agent of PENN 2, its 1.8 million square-foot PENN DISTRICT office tower.
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Disinflation: A Gift That Keeps Giving
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