Vornado Realty Trust income statement
In fiscal 2025, Vornado Realty Trust reported revenue of $1.81bn, up 1.3% on the year before and net income of $905m, or $4.20 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2,004 | 2,084 | 2,164 | 1,925 | 1,528 | 1,589 | 1,800 | 1,811 | 1,788 | 1,810 | 1,843 |
| General and administrative | 144 | 151 | 142 | 170 | 182 | 135 | 134 | 163 | 149 | 156 | 156 |
| Operating income | 580 | 609 | 583 | — | — | — | — | — | — | — | — |
| Provision for credit losses | — | — | 0 | 0 | 13 | 0 | 0 | 8 | 0 | 0 | — |
| Income before tax | 585 | 320 | 460 | 3,438 | −425 | 197 | −361 | 62 | 43 | 951 | −3 |
| Income tax | 8 | 42 | 38 | 103 | 37 | −10 | 22 | 29 | 23 | 14 | 21 |
| Net income | 907 | 227 | 450 | 3,148 | −297 | 176 | −346 | 105 | 70 | 905 | 9 |
| Diluted EPS | $4.34 | $0.85 | $2.01 | $16.21 | −$1.83 | $0.53 | −$2.13 | $0.23 | $0.04 | $4.20 | $0.05 |
| Diluted shares (average) | 190m | 191m | 191m | 191m | 191m | 192m | 192m | 192m | 197m | 201m | 193m |
| EBITDA | 1,175 | 1,138 | 1,056 | — | — | — | — | — | — | — | — |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 458 | 462 | 441 | 454 | 454 | 459 | 462 | 468 |
| General and administrative | 37 | 39 | 40 | 37 | 40 | 42 | 39 | 35 |
| Interest expense | — | — | 88 | 84 | — | — | 90 | 89 |
| Income before tax | 12 | 107 | 817 | 14 | 13 | −16 | 43 | −42 |
| Income tax | 6 | 7 | 4 | −6 | 8 | 6 | 4 | 4 |
| Net income | 17 | 102 | 759 | 27 | 16 | −7 | 32 | −32 |
| Diluted EPS | $0.00 | $0.43 | $3.70 | $0.06 | $0.01 | −$0.12 | $0.08 | −$0.25 |
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