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Vornado Realty Trust VNO

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35.63 USD -0.24 (-0.68%)

Nov 6, 2026, 1:40 PM EST

35.01 Day range 36.21
24.57 52-week range 41.60
YTD
+7.05%
1 year
+0.02%

Financial health

Altman Z-Score

0.34 Distress zone

Bankruptcy-risk model: below 1.81 distress, above 2.99 safe.

Piotroski F-Score

7 / 9 Strong

Nine pass/fail tests of profitability, leverage and efficiency.

Rating

B-2 / 5 overall

  • DCF 4
  • Return on Equity 2
  • Return on Assets 2
  • Debt / Equity 2
  • P/E 1
  • P/B 3

Valuation

P/E 7.6×
FY 2016: 16.6×FY 2017: 92.0×FY 2018: 26.3×FY 2019: 4.1×FY 2020: -20.4×FY 2021: 79.0×FY 2022: -9.8×FY 2023: 123×FY 2024: 1051×FY 2025: 7.6×
FY 2016 5y median 79.0× FY 2025
P/S 3.5×
FY 2016: 6.4×FY 2017: 7.1×FY 2018: 5.5×FY 2019: 6.6×FY 2020: 4.7×FY 2021: 5.0×FY 2022: 2.2×FY 2023: 3.0×FY 2024: 4.5×FY 2025: 3.5×
FY 2016 5y median 3.5× FY 2025
P/B 1.1×
FY 2016: 2.3×FY 2017: 3.4×FY 2018: 2.6×FY 2019: 1.9×FY 2020: 1.1×FY 2021: 1.3×FY 2022: 0.7×FY 2023: 1.0×FY 2024: 1.6×FY 2025: 1.1×
FY 2016 5y median 1.1× FY 2025
P/FCF 5.1×
FY 2016: 63.6×FY 2017: 29.4×FY 2018: 16.2×FY 2019: 56.8×FY 2020: 245×FY 2021: 10.5×FY 2022: 5.0×FY 2023: 8.3×FY 2024: 14.9×FY 2025: 5.1×
FY 2016 5y median 8.3× FY 2025
EV/EBITDA 7.6×
FY 2016: 16.9×FY 2017: 19.6×FY 2018: 16.9×FY 2019: 4.6×FY 2020: 65.4×FY 2021: 18.1×FY 2022: 28.9×FY 2023: 15.8×FY 2024: 18.5×FY 2025: 7.6×
FY 2016 5y median 18.1× FY 2025
EV/Sales 7.4×
FY 2016: 10.0×FY 2017: 10.9×FY 2018: 9.7×FY 2019: 9.9×FY 2020: 8.7×FY 2021: 9.6×FY 2022: 6.8×FY 2023: 7.4×FY 2024: 9.1×FY 2025: 7.4×
FY 2016 5y median 7.4× FY 2025
FCF Yield 19.7%
FY 2016: 1.6%FY 2017: 3.4%FY 2018: 6.2%FY 2019: 1.8%FY 2020: 0.4%FY 2021: 9.5%FY 2022: 20.0%FY 2023: 12.0%FY 2024: 6.7%FY 2025: 19.7%
FY 2016 5y median 12.0% FY 2025

Profitability

Gross Margin 100.0%
FY 2016: 59.1%FY 2017: 57.5%FY 2018: 55.5%FY 2019: 52.3%FY 2020: 48.4%FY 2021: 49.8%FY 2022: 51.4%FY 2023: 50.0%FY 2024: 100.0%FY 2025: 100.0%
FY 2016 5y median 51.4% FY 2025
Operating Margin 15.0%
FY 2016: 22.0%FY 2017: 29.1%FY 2018: 26.9%FY 2019: 21.7%FY 2020: 9.4%FY 2021: 15.4%FY 2022: 16.0%FY 2023: 16.6%FY 2024: 14.8%FY 2025: 15.0%
FY 2016 5y median 15.4% FY 2025
Net Margin 50.0%
FY 2016: 38.3%FY 2017: 10.9%FY 2018: 20.8%FY 2019: 163.6%FY 2020: -19.4%FY 2021: 11.1%FY 2022: -19.2%FY 2023: 5.8%FY 2024: 3.9%FY 2025: 50.0%
FY 2016 5y median 5.8% FY 2025
ROE 15.1%
FY 2016: 13.9%FY 2017: 5.2%FY 2018: 10.1%FY 2019: 46.8%FY 2020: -4.5%FY 2021: 2.8%FY 2022: -5.9%FY 2023: 1.9%FY 2024: 1.4%FY 2025: 15.1%
FY 2016 5y median 1.9% FY 2025
ROIC 1.8%
FY 2016: 2.7%FY 2017: 3.1%FY 2018: 3.2%FY 2019: 2.3%FY 2020: 0.9%FY 2021: 1.5%FY 2022: 1.8%FY 2023: 1.0%FY 2024: 0.8%FY 2025: 1.8%
FY 2016 5y median 1.5% FY 2025
ROA 5.8%
FY 2016: 4.6%FY 2017: 1.3%FY 2018: 2.6%FY 2019: 17.2%FY 2020: -1.8%FY 2021: 1.0%FY 2022: -2.1%FY 2023: 0.7%FY 2024: 0.4%FY 2025: 5.8%
FY 2016 5y median 0.7% FY 2025

Growth (YoY)

Revenue 1.3%
FY 2016: 0.2%FY 2017: -16.8%FY 2018: 3.8%FY 2019: -11.0%FY 2020: -20.6%FY 2021: 4.0%FY 2022: 13.3%FY 2023: 0.6%FY 2024: -1.3%FY 2025: 1.3%
FY 2016 FY 2025
Operating Income 3.1%
FY 2016: -27.6%FY 2017: 10.3%FY 2018: -4.0%FY 2019: -28.3%FY 2020: -65.5%FY 2021: 69.8%FY 2022: 17.5%FY 2023: 4.4%FY 2024: -12.2%FY 2025: 3.1%
FY 2016 FY 2025
EPS (diluted) 10400.0%
FY 2016: 41.5%FY 2017: -83.3%FY 2018: 176.5%FY 2019: 589.8%FY 2020: -111.3%FY 2021: 129.0%FY 2022: -501.9%FY 2023: 110.8%FY 2024: -82.6%FY 2025: 10400.0%
FY 2016 FY 2025
Free Cash Flow 134.0%
FY 2016: 27.6%FY 2017: 101.2%FY 2018: 44.4%FY 2019: -69.3%FY 2020: -86.9%FY 2021: 2509.9%FY 2022: 4.9%FY 2023: -18.9%FY 2024: -17.0%FY 2025: 134.0%
FY 2016 FY 2025

Financial Health

Current Ratio 1.8×
FY 2016: 4.7×FY 2017: 7.0×FY 2018: 3.6×FY 2019: 2.0×FY 2020: 2.6×FY 2021: 2.2×FY 2022: 2.2×FY 2023: 2.0×FY 2024: 1.8×FY 2025: 1.8×
FY 2016 5y median 2.0× FY 2025
Quick Ratio 1.8×
FY 2016: 4.8×FY 2017: 7.0×FY 2018: 3.6×FY 2019: 2.0×FY 2020: 2.6×FY 2021: 2.2×FY 2022: 2.2×FY 2023: 2.0×FY 2024: 1.8×FY 2025: 1.8×
FY 2016 5y median 2.0× FY 2025
Debt / Equity 1.3×
FY 2016: 1.5×FY 2017: 2.2×FY 2018: 2.2×FY 2019: 1.2×FY 2020: 1.2×FY 2021: 1.4×FY 2022: 1.6×FY 2023: 1.6×FY 2024: 1.7×FY 2025: 1.3×
FY 2016 5y median 1.6× FY 2025
Net Debt / EBITDA 4.0×
FY 2016: 6.2×FY 2017: 6.8×FY 2018: 7.4×FY 2019: 1.5×FY 2020: 30.3×FY 2021: 8.6×FY 2022: 19.5×FY 2023: 9.4×FY 2024: 9.4×FY 2025: 4.0×
FY 2016 5y median 9.4× FY 2025
Interest Coverage 0.8×
FY 2016: 1.7×FY 2017: 1.8×FY 2018: 1.7×FY 2019: 1.5×FY 2020: 0.6×FY 2021: 1.1×FY 2022: 1.0×FY 2023: 0.9×FY 2024: 0.7×FY 2025: 0.8×
FY 2016 5y median 0.9× FY 2025

Dividends

Dividend Yield 3.2%
FY 2016: 3.5%FY 2017: 3.8%FY 2018: 4.5%FY 2019: 4.4%FY 2020: 12.5%FY 2021: 5.9%FY 2022: 11.7%FY 2023: 3.5%FY 2024: 2.5%FY 2025: 3.2%
FY 2016 5y median 3.5% FY 2025
Payout Ratio 22.5%
FY 2016: 57.9%FY 2017: 246.7%FY 2018: 118.8%FY 2019: 17.6%FY 2020: -300.2%FY 2021: 268.2%FY 2022: -135.3%FY 2023: 181.2%FY 2024: 288.7%FY 2025: 22.5%
FY 2016 5y median 181.2% FY 2025

Annual · latest fiscal year ends 2025-12-31