VNO · XBRL financial data
Vornado Realty Trust financial statements, every fiscal year
The same tables from 6 filings, lined up. Matched by XBRL tag: renamed lines keep their history.
How these numbers work
- Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
- Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
- * marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
- 0 means a filing states zero; a dash (—) means no filing states that number.
- “year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
- Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
- Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
- Shares outstanding come from each filing's cover page, as of the date printed there.
- Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.
Income statement
CSVFiscal years (VNO's year ends in late December)
| In millions of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Revenue | 1,528 | 1,589 | 1,800 | 1,811 | 1,788 | 1,810 |
| General and administrative | 182 | 135 | 134 | 163 | 149 | 156 |
| Total operating expenses | 1,551 | 1,368 | 1,534 | 1,565 | 1,542 | 1,552 |
| Other income (expense) | 4 | 2 | 0 | 0 | 0 | — |
| Income tax expense (benefit) | 37 | (10) | 22 | 29 | 23 | 14 |
| Net income (loss) | (297) | 176 | (346) | 105 | 70 | 905 |
| Earnings per share, basic USD per share | (1.83) | 0.53 | (2.13) | 0.23 | 0.04 | 4.40 |
| Earnings per share, diluted USD per share | (1.83) | 0.53 | (2.13) | 0.23 | 0.04 | 4.20 |
| Weighted average shares, basic millions of shares | 191 | 192 | 192 | 191 | 191 | 192 |
| Weighted average shares, diluted millions of shares | 191 | 192 | 192 | 192 | 197 | 201 |
Balance sheet
CSVFiscal years (VNO's year ends in late December)
| In millions of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 1,624 | 1,760 | 890 | 997 | 734 | 841 |
| Short-term investments | — | 0 | 472 | 0 | — | — |
| Right-of-use asset | 367 | 337 | 684 | 680 | 679 | 671 |
| Total assets | 16,222 | 17,267 | 16,493 | 16,188 | 15,999 | 15,521 |
| Total liabilities | 8,667 | 10,063 | 9,980 | 9,844 | 9,827 | 8,717 |
| Accumulated deficit | (2,774) | (3,079) | (3,895) | (4,009) | (4,142) | (3,492) |
| Total stockholders' equity | 6,533 | 6,236 | 5,840 | 5,509 | 5,158 | 5,987 |
| Total liabilities and equity | 16,222 | 17,267 | 16,493 | 16,188 | 15,999 | 15,521 |
| Common shares outstanding (cover page) millions of shares | 191 | 192 | 192 | 190 | 191 | 191 |
Cash flows
CSVFiscal years (VNO's year ends in late December)
| In millions of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Net income (loss) | (297) | 176 | (346) | 105 | 70 | 905 |
| Stock-based compensation | 49 | 38 | 29 | 43 | 30 | 25 |
| Depreciation and amortization | 418 | 433 | 526 | 458 | 469 | 481 |
| Net cash from operating activities | 424 | 762 | 799 | 648 | 538 | 1,258 |
| Net cash from investing activities | (88) | (532) | (907) | (129) | (597) | 116 |
| Share repurchases | — | 0 | 0 | 29 | 0 | 51 |
| Dividends paid | 827 | 406 | 407 | 129 | 141 | 141 |
| Proceeds from long-term debt | 1,056 | 3,248 | 1,030 | 0 | 75 | 836 |
| Repayments of long-term debt | 1,068 | 1,584 | 1,251 | 148 | 97 | 1,904 |
| Net cash from financing activities | (213) | (29) | (801) | (279) | (252) | (1,346) |
| Net change in cash | 123 | 200 | (909) | 240 | (312) | 28 |
Compare with peers
SIC 6798 and related industry codes, similar size. Each row is the latest quarter reported.
How peers are chosen
- SIC 6798 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
- Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
- Runway shows only for companies burning cash with under $10B of public float.
- * marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
- A cell reading “not reported” means the filings give no figure for that quarter alone.
| Company | Cash ($M) | Revenue, quarter ($M) | Operating cash flow, quarter ($M) | Shares outstanding | Runway | Quarter |
|---|---|---|---|---|---|---|
| Vornado Realty Trust | 580 | 468 | not reported | 187.0M | — | 10-QSep 30, 2026 |
| STAG Industrial | 12 | 231 | 147* | 192.8M | — | 10-QSep 30, 2026 |
| Starwood Property Trust | 368 | 514 | 171* | 370.2M | — | 10-QJun 30, 2026 |
| First Industrial Realty Trust | 42 | 197 | not reported | 132.6M | — | 10-QSep 30, 2026 |
| Essential Properties Realty Trust | 25 | 169 | 118* | 220.3M | — | 10-QSep 30, 2026 |
| CareTrust REIT | 48 | 161 | 135* | 236.3M | — | 10-QJun 30, 2026 |
| Ryman Hospitality Properties | 348 | 656 | 194* | 69.0M | — | 10-QSep 30, 2026 |
| Rithm Capital | 1,709 | 1,756 | (1,589)* | 558.4M | 3.9 quarters | 10-QSep 30, 2026 |
| American Healthcare REIT | 157 | 674 | 119* | 218.0M | — | 10-QJun 30, 2026 |
Not investment advice. Not affiliated with the U.S. SEC.