VNO
Vornado Realty Trust
There isn't enough reported data to score VNO yet.
VNO Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Under pressure | |
| N/A | |
| N/A |
VNO's revenue is currently stable, but its profitability is under pressure. Free cash flow and net leverage aren't meaningful measures for real estate companies like VNO.
VNO PE Valuation
VNO has no meaningful PE right now: it lost money over the past year.
VNO Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Growth | |
| Strongly weakening | |
| Limited | |
| Moderate |
Analysts expect VNO's losses to grow, with revenue growing.
VNO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2024 | -$0.29 | +$1.73 |
| Q2 2024 | $0.09 | +$2.35 |
| Q1 2024 | $0.15 | +$2.39 |
| Q4 2023 | $0.23 | +$2.36 |
| Q3 2023 | -$2.02 | -504% |
| Q2 2023 | -$2.26 | -442% |
| Q1 2023 | -$2.24 | -445% |
| Q4 2022 | -$2.13 | -502% |
VNO lost $0.29 per share over the past year, a smaller loss than the year before, but its loss has widened in each of the last three quarters.
VNO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $467.7M | +3.1% |
| Q2 2026 | $462.2M | +4.7% |
| Q1 2026 | $459.1M | -0.5% |
| Q4 2025 | $453.7M | -0.9% |
| Q3 2025 | $453.7M | +2.4% |
| Q2 2025 | $441.4M | -2% |
| Q1 2025 | $461.6M | +5.8% |
| Q4 2024 | $457.8M | +3.6% |
VNO's revenue grew through 2022 and has held roughly level since: $468M last quarter, up 3.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -9% | -12 points |
| Q2 2026 | 9.3% | -176 points |
| Q1 2026 | -3.5% | -27 points |
| Q4 2025 | 2.8% | +0.3 points |
| Q3 2025 | 3% | +6.3 points |
| Q2 2025 | 185% | +175 points |
| Q1 2025 | 23% | +23 points |
| Q4 2024 | 2.5% | +23 points |
VNO's operating margin was −9% last quarter, down 12 points from the same quarter a year ago.
VNO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $37.8M | +$227.2M |
| Q1 2026 | -$124.1M | -338% |
| Q4 2025 | $94.8M | -54% |
| Q3 2025 | -$189.3M | -280% |
| Q1 2025 | $52M | +65% |
| Q4 2024 | $206.2M | -2.4% |
| Q3 2024 | $105.4M | +70% |
| Q2 2024 | $194.7M | -22% |
VNO's free cash flow was $172M over the past year, down 1.1% from the year before. Free cash flow isn't a meaningful measure for real estate companies like VNO.
VNO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -3.8% | -7.4M shares |
| 1 year | -6.6% | -13.3M shares |
| 3 years | -3.1% | -6.1M shares |
| 5 years | -2.7% | -5.2M shares |
| Available history | -2.2% | -4.2M shares |
VNO has 187M diluted shares, down 6.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $53.5M |
| Q1 2026 | $79.9M |
| Q4 2024 | — |
| Q3 2024 | — |
| Q4 2023 | — |
| Q3 2023 | $5.9M |
VNO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.5x | Elevated |
| Q2 2026 | 3.3x | Elevated |
| Q1 2026 | 1.3x | Healthy |
| Q4 2025 | 1.0x | Healthy |
| Q3 2025 | 0.9x | Very low |
| Q2 2025 | 0.7x | Very low |
| Q1 2025 | 2.5x | Moderate |
| Q4 2024 | 3.7x | Elevated |
VNO's net debt is about 3.5 years of its operating earnings (EBITDA), up from less than a year a year ago. Net leverage isn't a meaningful measure for real estate companies like VNO.
VNO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.0 | Neutral |
| Stochastic | 32.8 | Neutral |
VNO's weekly RSI is 48 (neutral) and its Stochastic is 33 (neutral).
VNO PE vs Real Estate Sector
| Metric | VNO | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
VNO has no meaningful PE right now: it lost money over the past year.
VNO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $34.4 | 1% above |
| 20 week MA | $36.7 | 5.5% below |
| 50 week MA | $33.6 | 3.4% above |
| 100 week MA | $36.2 | 4.1% below |
| 200 week MA | $31.0 | 12% above |
VNO's trend is mixed: it's above three of its five weekly moving averages, and 12% above its 200-week average.
VNO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $65.9 | $36.2 | -45% |
| 2021 | $36.2 | $41.5 | +15% |
| 2022 | $41.5 | $21.5 | -48% |
| 2023 | $21.5 | $28.3 | +32% |
| 2024 | $28.3 | $41.8 | +48% |
| 2025 | $41.8 | $33.7 | -19% |
| 2026 YTD | $33.7 | $34.7 | +3.2% |
VNO has finished lower in three of the last six years. It's up 3.2% so far in 2026.