Vornado Realty Trust Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Rental Revenue	1,558	1,569	1,607	1,608	1,425
Other Revenue	306.33	331.34	225.97	296.99	280.62
Total Revenue	1,865	1,900	1,833	1,905	1,705
Revenue Growth (YoY	-1.87%	3.64%	-3.74%	11.70%	42.23%
Property Expenses	919.96	927.8	905.16	873.91	797.32
Selling, General & Administrative	156.12	148.52	162.88	133.73	134.55
Depreciation & Amortization	462.2	447.5	434.27	504.5	412.35
Total Operating Expenses	1,538	1,524	1,502	1,512	1,344
Operating Income	326.3	376.33	331.14	392.53	360.94
Interest Expense	-330.4	-348.52	-338.23	-279.34	-207.37
Interest & Investment Income	55.11	45.97	43.29	23.41	15.68
Other Non-Operating Income	-25.46	-46.99	-16.67	-13.05	-5.94
EBT Excluding Unusual Items	25.55	26.8	19.52	123.55	163.32
Gain (Loss) on Sale of Investments	87.16	-	16.4	-566.03	14.58
Gain (Loss) on Sale of Assets	838.54	16.05	71.2	100.63	50.77
Asset Writedown	-0.54	-	-45.01	-19.1	-7.88
Other Unusual Items	-	-	-	-	-23.73
Pretax Income	950.71	42.85	62.11	-360.95	197.06
Income Tax Expense	13.51	22.73	29.22	21.66	-10.5
Earnings From Continuing Operations	937.2	20.12	32.89	-382.61	207.55
Net Income to Company	937.2	20.12	32.89	-382.61	207.55
Minority Interest in Earnings	-32.25	50.27	72.61	36.11	-31.55
Net Income	904.96	70.39	105.49	-346.5	176
Preferred Dividends & Other Adjustments	62.1	62.11	62.12	62.13	74.95
Net Income to Common	842.85	8.28	43.38	-408.63	101.05
Net Income Growth	1185.68%	-33.28%	-	-	-
Basic Shares Outstanding	192	191	191	192	192
Diluted Shares Outstanding	201	197	192	192	192
Shares Change (YoY)	2.25%	2.49%	0.04%	-0.18%	0.51%
EPS (Basic)	4.40	0.04	0.23	-2.13	0.53
EPS (Diluted)	4.20	0.04	0.23	-2.13	0.53
EPS Growth	10398.18%	-82.39%	-	-	-
Dividend Per Share	0.740	0.740	0.675	2.120	2.120
Dividend Growth	-	9.63%	-68.16%	-	-10.92%
Operating Margin	17.50%	19.80%	18.06%	20.61%	21.17%
Profit Margin	45.20%	0.43%	2.37%	-21.45%	5.93%
EBITDA	788.11	820.8	760.15	891.85	764.04
EBITDA Margin	42.27%	43.20%	41.46%	46.82%	44.81%
D&A For Ebitda	461.82	444.47	429.01	499.32	403.1
EBIT	326.3	376.33	331.14	392.53	360.94
EBIT Margin	17.50%	19.80%	18.06%	20.61%	21.17%
Funds From Operations (FFO)	485.42	468.47	-	-	-
FFO Per Share	2.42	2.37	-	-	-
Adjusted Funds From Operations (AFFO)	485.42	468.47	-	-	-
AFFO Per Share	2.41	2.36	-	-	-
FFO Payout Ratio	29.10%	30.12%	-	-	-
Effective Tax Rate	1.42%	53.05%	47.05%	-	-
Revenue as Reported	1,810	1,788	1,811	1,800	1,589

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.