Vornado Realty Trust (VNO) Earnings History
Profitable36 years of earnings data (1990–2025) · Positive TTM net income
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Vornado Realty Trust (VNO) Earnings Overview
As of June 21, 2026, Vornado Realty Trust (VNO) reported trailing twelve-month net income of $795M, reflecting +10400.0% year-over-year growth. The company earned $4.19 per diluted share over the past four quarters, with a net profit margin of 50.0%.
Looking at the long-term picture, VNO's historical earnings data spans multiple years. The company achieved its highest annual net income of $3.15B in fiscal 2019.
Vornado Realty Trust maintains industry-leading profitability with a gross margin of 100.0%, operating margin of 15.0%, and net margin of 50.0%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including SLG (-$152M net income, -8.8% margin), BXP ($277M net income, 7.9% margin), KRC ($276M net income, 24.8% margin), VNO has outperformed on profitability metrics. Compare VNO vs SLG →
VNO Earnings vs Peers
Earnings metrics vs comparable public companies
VNO Historical Earnings Data (1990–2025)
36 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $905M | +1185.7% | $272M | $4.20 | 50.0% | 15.0% |
| 2024 | $70M | -33.3% | $264M | $0.04 | 3.9% | 14.8% |
| 2023 | $105M | +130.4% | $301M | $0.23 | 5.8% | 16.6% |
| 2022 | -$346M | -296.9% | $288M | $-2.13 | -19.2% | 16.0% |
| 2021 | $176M | +159.3% | $245M | $0.53 | 11.1% | 15.4% |
| 2020 | -$297M | -109.4% | $144M | $-1.83 | -19.4% | 9.4% |
| 2019 | $3.15B | +599.6% | $418M | $16.21 | 163.6% | 21.7% |
| 2018 | $450M | +97.9% | $583M | $2.35 | 20.8% | 26.9% |
| 2017 | $227M | -76.3% | $607M | $0.85 | 10.9% | 29.1% |
| 2016 | $961M | +26.3% | $551M | $5.08 | 38.3% | 22.0% |
| 2015 | $760M | -12.1% | $760M | $3.59 | 30.4% | 30.4% |
| 2014 | $865M | +81.7% | $816M | $4.15 | 32.8% | 30.9% |
| 2013 | $476M | -22.9% | $874M | $2.09 | 17.2% | 31.7% |
| 2012 | $617M | -6.8% | $678M | $2.94 | 22.3% | 24.5% |
| 2011 | $662M | +2.2% | $856M | $3.23 | 22.7% | 29.4% |
| 2010 | $648M | +510.2% | $806M | $3.24 | 23.3% | 29.0% |
| 2009 | $106M | -73.1% | $796M | $0.28 | 3.9% | 29.0% |
| 2008 | $395M | -37.9% | $814M | $1.91 | 14.6% | 30.2% |
| 2007 | $636M | +13.5% | $1.23B | $3.18 | 21.4% | 41.4% |
| 2006 | $560M | +3.8% | $727M | $3.28 | 20.7% | 26.8% |
| 2005 | $540M | -9.0% | $725M | $3.43 | 21.2% | 28.4% |
| 2004 | $593M | +28.7% | $638M | $4.27 | 34.7% | 37.4% |
| 2003 | $461M | +97.8% | $582M | $3.73 | 30.7% | 38.7% |
| 2002 | $233M | -11.7% | $555M | $1.87 | 16.2% | 38.7% |
| 2001 | $264M | +12.7% | $437M | $2.42 | 26.9% | 44.6% |
| 2000 | $234M | +15.6% | $404M | $2.16 | 29.1% | 50.3% |
| 1999 | $203M | +32.4% | $344M | $1.90 | 30.5% | 51.9% |
| 1998 | $153M | +150.7% | $268M | $1.56 | 33.6% | 58.9% |
| 1997 | $61M | -0.7% | $104M | $0.77 | 30.1% | 51.3% |
| 1996 | $61M | +15.8% | $78M | $1.23 | 52.3% | 66.6% |
| 1995 | $53M | +28.6% | $69M | $2.21 | 51.6% | 67.5% |
| 1994 | $41M | +47.1% | $55M | $0.93 | 46.9% | 63.0% |
| 1993 | $28M | +2233.3% | $56M | $0.60 | 58.3% | 117.3% |
| 1992 | $1M | -88.2% | $36M | $0.04 | 3.0% | 89.2% |
| 1991 | $10M | +137.2% | $48M | $0.30 | 25.1% | 118.2% |
| 1990 | $4M | - | $44M | $0.13 | 13.1% | 134.3% |
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VNO — Frequently Asked Questions
Quick answers to the most common questions about buying VNO stock.
What is VNO earnings per share (EPS)?
VNO trailing twelve-month (TTM) diluted EPS is $4.19, reflecting +10400.0% year-over-year growth. The 5-year EPS CAGR is N/A. Complete EPS history from 1990 to 2025 is available in the table on this page.
What is Vornado Realty Trust's net income?
Vornado Realty Trust (VNO) trailing twelve-month net income is $795M as of 2025. Earnings grew +10400.0% year-over-year. Vornado Realty Trust has been profitable for 3 consecutive years.
Is VNO profitable?
Yes, VNO is profitable with a TTM net income of $795M and a net profit margin of +50.0%. Vornado Realty Trust has generated profits for 3 consecutive years.
What is VNO's earnings growth rate?
VNO compound annual EPS growth rates (CAGR): 1-Year: +10400.0%, 3-Year: N/A, 5-Year: N/A, 10-Year: +1.6%. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 1990 to 2025.
What are VNO's profit margins?
Vornado Realty Trust net profit margin is +50.0%, operating margin is +15.0%, and gross margin is +100.0%. Above-average net margins reflect strong pricing power and competitive moat. Return on Equity is +13.9%.
Is VNO growing earnings?
Yes, VNO earnings are accelerating — EPS growth of +10400.0% exceeds the 5-year CAGR of N/A. TTM net income reached $795M. Earnings momentum is strengthening.
What was VNO's best earnings year?
Vornado Realty Trust's highest annual net income on record is $3.1B, achieved in fiscal year 2019. Earnings history on this page spans 1990 to 2025 and includes all annual and quarterly figures.
What were VNO's earnings last quarter?
VNO's most recent reported quarter was Q1 2026. Net income was $-7M with diluted EPS of $-0.12. For a full breakdown of all quarters, see the quarterly earnings table on this page.