Last 47 quarters of trend data · Real Estate · REIT - Office
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 8.03 | 109.17 | — | 2683.87 | 168.88 | 2.58 | 21.51 | 1051.00 | — | 36.51 | — | — | 20.25 | 18.90 | 128.08 | — | 144.75 | 27.49 | 80.93 | 174.42 | 52.51 |
| — | +4125.1% | — | +155.4% | — | -92.9% | — | — | — | +93.2% | — | — | -86.0% | -31.3% | +58.3% | — | +175.6% | -41.1% | -85.7% | — | +74.5% | |
| P/S Ratio | 3.50 | 3.98 | 2.68 | 3.52 | 4.29 | 4.35 | 4.02 | 4.59 | 4.23 | 2.84 | 3.14 | 3.04 | 2.43 | 1.87 | 1.65 | 2.23 | 2.43 | 3.03 | 4.92 | 4.77 | 4.92 |
| — | -8.6% | -33.3% | -23.4% | +1.3% | +53.4% | +28.1% | +51.0% | +74.6% | +51.7% | +89.8% | +36.3% | -0.2% | -38.2% | -66.4% | -53.2% | -50.6% | -48.9% | -14.2% | +0.6% | +11.1% | |
| P/B Ratio | 0.95 | 1.10 | 0.73 | 0.94 | 1.11 | 1.10 | 1.19 | 1.36 | 1.20 | 0.80 | 0.86 | 0.85 | 0.67 | 0.55 | 0.46 | 0.61 | 0.62 | 0.77 | 1.21 | 1.12 | 1.11 |
| — | +0.3% | -38.4% | -31.2% | -7.4% | +37.5% | +38.8% | +60.8% | +79.1% | +46.1% | +85.4% | +38.3% | +7.9% | -28.9% | -61.7% | -45.1% | -44.0% | -37.5% | +4.1% | +18.0% | +30.2% | |
| P/FCF | 5.04 | 42.43 | 25.81 | 10.91 | 58.67 | 1.87 | 35.67 | 10.20 | 17.81 | 6.56 | 43.50 | 6.36 | 17.60 | 3.12 | 8.03 | 4.17 | 8.61 | 5.29 | 12.72 | 7.08 | 373.01 |
| — | +2166.6% | -27.7% | +6.9% | +229.4% | -71.5% | -18.0% | +60.3% | +1.2% | +110.1% | +442.1% | +52.5% | +104.6% | -40.9% | -36.9% | -41.1% | -97.7% | -41.5% | +30.9% | -54.4% | — | |
| EV / EBITDA | 17.77 | 20.00 | 18.15 | 18.19 | 20.48 | 19.14 | 18.91 | 21.57 | 22.32 | 17.72 | 19.11 | 18.87 | 16.64 | 13.38 | 15.25 | 14.71 | 15.08 | 16.82 | 22.55 | 20.02 | 20.58 |
| — | +4.5% | -4.0% | -15.7% | -8.2% | +8.1% | -1.1% | +14.3% | +34.2% | +32.4% | +25.3% | +28.2% | +10.3% | -20.5% | -32.4% | -26.5% | -26.7% | -31.4% | -9.3% | -21.2% | -10.2% | |
| EV / EBIT | 49.20 | 29.74 | 41.94 | 35.85 | 39.27 | 3.97 | 19.45 | 39.01 | 48.49 | 23.98 | 39.66 | — | 20.18 | 19.24 | 28.82 | — | 33.50 | 26.30 | 39.48 | 33.56 | 40.26 |
| — | +649.7% | +115.6% | -8.1% | -19.0% | -83.5% | -51.0% | — | +140.3% | +24.7% | +37.6% | — | -39.8% | -26.8% | -27.0% | — | -16.8% | -12.7% | -21.0% | — | +80.8% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 100.0% | -22.5% | -5.4% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 50.2% | 48.2% | 52.8% | 48.7% | 52.2% | 51.6% | 51.0% | 51.0% | 51.9% | 48.0% |
| — | -122.5% | -105.4% | 0.0% | 0.0% | 0.0% | 0.0% | +99.1% | +107.6% | +89.2% | +105.4% | -3.8% | -6.6% | +3.7% | -4.6% | +0.7% | +7.4% | +2.7% | +2.6% | +4.1% | +3.8% | |
| Operating Margin | 15.0% | 5.5% | 11.0% | 14.6% | 12.6% | 15.1% | 17.8% | 15.7% | 12.5% | 16.1% | 14.6% | 13.0% | 15.8% | 21.8% | 15.5% | 15.2% | 15.8% | 17.8% | 15.1% | 13.7% | 17.1% |
| — | -63.2% | -38.3% | -7.3% | +0.7% | -6.6% | +22.0% | +21.0% | -20.4% | -26.1% | -5.8% | -14.7% | -0.1% | +22.7% | +2.2% | +11.1% | -7.9% | -0.4% | +16.3% | +170.5% | +115.7% | |
| Net Margin | 50.0% | 6.9% | -1.6% | 3.6% | 6.0% | 172.0% | 22.2% | 3.7% | -0.8% | 11.3% | 1.5% | -10.3% | 15.2% | 13.1% | 4.6% | -106.9% | 5.1% | 14.5% | 9.5% | 6.5% | 15.5% |
| — | -96.0% | -107.2% | -2.7% | +830.6% | +1425.0% | +1390.0% | +135.5% | -105.4% | -13.9% | -67.9% | +90.4% | +197.7% | -9.9% | -51.1% | -1741.8% | -67.2% | -14.6% | +75.7% | +112.6% | -14.0% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.9% | 0.5% | -0.1% | 0.2% | 0.4% | 11.5% | 1.7% | 0.3% | -0.1% | 0.8% | 0.1% | -0.7% | 1.1% | 1.0% | 0.3% | -7.0% | 0.3% | 0.9% | 0.6% | 0.4% | 0.9% |
| — | -95.8% | -106.6% | -13.2% | +775.7% | +1343.8% | +1517.1% | +138.1% | -105.4% | -17.6% | -68.2% | +89.9% | +223.1% | +4.9% | -44.9% | -1942.8% | -62.7% | +5.5% | +113.7% | +114.7% | +0.9% | |
| ROA | 5.7% | 0.2% | -0.0% | 0.1% | 0.2% | 4.9% | 0.6% | 0.1% | -0.0% | 0.3% | 0.0% | -0.3% | 0.4% | 0.4% | 0.1% | -2.8% | 0.1% | 0.4% | 0.2% | 0.2% | 0.4% |
| — | -95.8% | -107.2% | -1.1% | +868.9% | +1453.3% | +1515.7% | +137.4% | -105.4% | -17.2% | -68.3% | +90.2% | +206.4% | -0.6% | -47.7% | -1898.4% | -63.5% | -3.2% | +90.3% | +113.7% | +0.8% | |
| ROIC | 1.4% | 0.1% | 0.3% | 0.4% | 0.3% | 0.4% | 0.4% | 0.4% | 0.3% | 0.4% | 0.3% | 0.3% | 0.4% | 0.5% | 0.4% | 0.3% | 0.4% | 0.4% | 0.3% | 0.3% | 0.4% |
| — | -63.3% | -37.1% | -4.3% | +8.7% | -4.5% | +30.0% | +25.3% | -22.0% | -29.9% | -6.4% | -11.8% | +4.7% | +36.6% | +5.7% | +11.5% | -6.9% | +5.5% | +23.6% | +194.4% | +147.0% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.16 | 1.35 | 1.25 | 1.16 | 1.12 | 1.11 | 1.37 | 1.46 | 1.43 | 1.40 | 1.41 | 1.42 | 1.38 | 1.39 | 1.42 | 1.40 | 1.27 | 1.27 | 1.30 | 1.25 | 1.24 |
| — | +21.5% | -8.4% | -20.5% | -21.6% | -20.5% | -2.9% | +2.9% | +4.2% | +0.5% | -0.5% | +1.1% | +8.2% | +9.3% | +9.1% | +12.3% | +2.7% | +9.6% | +24.9% | +20.8% | +19.1% | |
| Debt / EBITDA | 10.46 | 46.02 | 49.81 | 42.72 | 44.08 | 41.83 | 41.93 | 46.55 | 51.07 | 48.14 | 50.63 | 50.74 | 48.40 | 42.26 | 49.67 | 43.92 | 43.25 | 45.04 | 49.35 | 47.13 | 49.66 |
| — | +10.0% | +18.8% | -8.2% | -13.7% | -13.1% | -17.2% | -8.3% | +5.5% | +13.9% | +1.9% | +15.5% | +11.9% | -6.2% | +0.7% | -6.8% | -12.9% | -17.4% | -5.3% | -20.8% | -11.3% | |
| Current Ratio | 1.80 | 4.77 | 2.08 | 1.80 | 1.93 | 2.52 | 1.65 | 1.81 | 1.86 | 1.95 | 1.98 | 2.00 | 1.97 | 1.91 | 2.02 | 2.17 | 1.68 | 1.79 | 1.75 | 2.20 | 2.88 |
| — | +89.6% | +25.9% | -0.5% | +3.8% | +28.8% | -16.6% | -9.5% | -5.3% | +2.2% | -2.2% | -8.0% | +17.4% | +7.1% | +15.7% | -1.5% | -41.8% | -44.5% | -33.0% | -15.4% | +17.9% | |
| Quick Ratio | 1.80 | 4.77 | 2.08 | 1.80 | 1.93 | 2.52 | 1.65 | 1.81 | 1.86 | 1.95 | 1.98 | 2.00 | 1.97 | 1.91 | 2.02 | 2.17 | 1.68 | 1.79 | 1.75 | 2.20 | 2.88 |
| — | +89.6% | +25.9% | -0.5% | +3.8% | +28.8% | -16.6% | -9.5% | -5.3% | +2.2% | -2.2% | -8.0% | +17.4% | +7.1% | +15.7% | -1.5% | -41.8% | -44.5% | -33.0% | -15.4% | +17.9% | |
| Interest Coverage | 3.63 | 1.48 | 0.82 | 1.09 | 1.11 | 10.24 | 2.06 | 1.06 | 0.80 | 1.40 | 0.95 | -0.11 | 1.74 | 1.70 | 1.11 | -4.94 | 1.24 | 2.07 | 2.07 | 1.45 | 1.82 |
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Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying VNO stock.
Vornado Realty Trust's current P/E is 8.0x. The average P/E over the last 3 quarters is 987.3x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Vornado Realty Trust's current operating margin is 15.0%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Vornado Realty Trust's business trajectory between earnings reports.