Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.00B | $2.08B | $2.16B | $1.92B | $1.53B | $1.59B | $1.80B | $1.81B | $1.79B | $1.81B |
| Revenue growth | — | 4.0% | 3.8% | -11.0% | -20.6% | 4.0% | 13.3% | 0.6% | -1.3% | 1.3% |
| Operating income | $580M | $609M | $583M | — | — | — | — | — | — | — |
| Operating margin | 28.9% | 29.2% | 26.9% | — | — | — | — | — | — | — |
| Net income | $907M | $227M | $450M | $3.15B | -$297M | $176M | -$346M | $105M | $70.4M | $905M |
| Net margin | 45.3% | 10.9% | 20.8% | 163.6% | -19.4% | 11.1% | -19.2% | 5.8% | 3.9% | 50.0% |
| EPS (diluted) | $4.34 | $0.85 | $2.01 | $16.21 | -$1.83 | $0.53 | -$2.13 | $0.23 | $0.04 | $4.20 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $995M | $860M | $803M | $663M | $424M | $762M | $799M | $648M | $538M | $1.26B |
| Share buybacks | — | — | — | — | — | $0.00 | $0.00 | $29.2M | $0.00 | $51.0M |
| Dividends paid | $476M | $496M | $479M | $504M | $827M | $406M | $407M | $129M | $141M | $141M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $1.50B | $1.82B | $571M | $1.52B | $1.62B | $1.76B | $890M | $997M | $734M | $841M |
| Total assets | $20.8B | $17.4B | $17.2B | $18.3B | $16.2B | $17.3B | $16.5B | $16.2B | $16.0B | $15.5B |
| Total liabilities | $11.9B | $11.4B | $11.3B | $10.1B | $8.67B | $10.1B | $9.98B | $9.84B | $9.83B | $8.72B |
| Long-term debt | $1.33B | $1.59B | $1.67B | $1.77B | $1.82B | $2.56B | $2.56B | $2.56B | $2.57B | $2.26B |
| Shareholders' equity | $6.90B | $4.34B | $4.47B | $6.73B | $6.53B | $6.24B | $5.84B | $5.51B | $5.16B | $5.99B |
| Retained earnings | -$1.42B | -$4.18B | -$4.17B | -$1.95B | -$2.77B | -$3.08B | -$3.89B | -$4.01B | -$4.14B | -$3.49B |
| Shares (wtd avg diluted) | 190M | 191M | 191M | 191M | 191M | 192M | 192M | 192M | 197M | 201M |
Every figure is extracted from VORNADO REALTY TRUST’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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