Vornado Realty Trust

NYSE:VNOReal EstateNASDAQ:NQUSSGSTOXX:EDD24BP

——At close · Market cap — · Next earnings Mon 2 Nov

Ratio	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	Current · undated	YoY
Gross margin	48.4%	49.8%	51.4%	50.0%	100.0%	100.0%	—	—
Operating margin	9.4%	15.4%	16.0%	16.6%	14.8%	15.0%	15.0%	+0.0 pts
Net margin	−19.4%	11.1%	−19.2%	5.8%	3.9%	50.0%	51.8%	+1.8 pts
EBITDA margin	13.3%	52.9%	23.5%	46.7%	49.3%	97.6%	—	—
Return on equity	−4.5%	2.8%	−5.9%	1.9%	1.4%	15.1%	13.8%	−1.3 pts
Return on assets	−1.8%	1.0%	−2.1%	0.7%	0.4%	5.8%	6.0%	+0.2 pts
Return on capital employed	0.9%	1.5%	1.9%	2.0%	1.8%	1.9%	—	—
Debt / equity	1.2×	1.4×	1.6×	1.6×	1.7×	1.3×	1.2×	−12.0%
Debt / assets	48.1%	52.0%	55.3%	55.5%	56.2%	50.8%	—	—
Interest coverage	0.6×	1.1×	1.0×	0.9×	0.7×	0.8×	—	—
Current ratio	2.6×	2.2×	2.2×	2.0×	1.8×	1.8×	1.8×	+0.0%
Quick ratio	2.6×	2.2×	2.2×	2.0×	1.8×	1.8×	—	—
Cash ratio	1.6×	1.4×	0.8×	1.0×	0.8×	0.8×	0.8×	+0.0%
Asset turnover	0.1×	0.1×	0.1×	0.1×	0.1×	0.1×	—	—
Receivables turnover	2.0×	2.2×	2.3×	2.3×	2.3×	1.8×	—	—
Dividend payout	−300.2%	268.2%	−135.3%	181.2%	288.7%	22.5%	—	—

Margins, returns, leverage and liquidityUpdated 31 Dec 2025 ·

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Current snapshot ratios have no reporting date and are shown separately from fiscal periods.