Alexandria Real Estate Equities vs Vornado Realty Trust
Alexandria Real Estate Equities is the larger business, with $3.03bn of revenue in fiscal 2025 against $1.81bn for Vornado Realty Trust (1.7 times as much). Vornado Realty Trust grew faster (1.3% against -2.9%). Vornado Realty Trust kept more of each dollar of sales as profit: a net margin of 50.0% against -47.2%. Vornado Realty Trust carries less debt relative to equity (37.8% against 80.2%).
| Latest fiscal year | Alexandria Real Estate EquitiesARE, 2025 | Vornado Realty TrustVNO, 2025 |
|---|---|---|
| Revenue | $3.03bn | $1.81bn |
| Revenue growth | -2.9% | 1.3% |
| Net income | −$1.43bn | $905m |
| Operating margin | — | — |
| Net margin | -47.2% | 50.0% |
| Return on equity | -8.6% | 16.2% |
| Free cash flow | — | $962m |
| Cash | $549m | $841m |
| Total debt | $12.40bn | $2.26bn |
| Debt to equity | 80.2% | 37.8% |
| Dividend per share | $4.68 | $0.74 |
| Dividend yield | 8.2% | — |
| Share buybacks | $208m | $51.0m |
| Employees | 514 | 3,145 |
| Market value | $7.19bn | $6.40bn |
| Price vs our value range | — | — |
| Moat score | 29 (Weak) | 46 (Moderate) |
| Insider trades, 12 months | 12 buys, 6 sales | 9 buys, 3 sales |