Vornado Realty Trust (VNO) FY2017 results: revenue $2.1 billion, up 4.0% on the year
Vornado Realty Trust (VNO) reported revenue of $2.1 billion for fiscal 2017, the year ended 31 December 2017, up 4.0% on the year before. Net income was $227 million, down 74.9%, and diluted earnings per share $0.85. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2020.
Revenue
$2.1 billion
+4.0% on the year
FY2010FY2017
Operating margin
29.2%
28.9% a year earlier
FY2010FY2017
Net income
$227 million
-74.9% on the year
FY2010FY2017
Diluted EPS
$0.85
-80.4% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
2,084
2,004
1,985
+4.0%
Operating income
609
580
619
+5.0%
Operating margin
29.2%
28.9%
31.2%
Pre-tax income
320
585
551
-45.3%
Income tax
42.4
7.9
-85.0
+434.8%
Effective tax rate
13.3%
1.4%
-15.4%
Net income
227
907
760
-74.9%
Net margin
10.9%
45.3%
38.3%
Diluted EPS
$0.85
$4.34
$3.59
-80.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
860
995
672
-13.6%
Capital expenditure
271
388
301
-30.0%
Free cash flow
589
608
371
-3.1%
Free cash flow margin
28.3%
30.3%
18.7%
Cash from investing
-206
-893
-732
Cash from financing
-338
-446
619
Depreciation and amortisation
530
595
566
-11.0%
Share-based compensation
32.8
34.0
39.8
-3.4%
Dividends paid
496
476
475
+4.3%
Dividend per share
$2.62
n/a
n/a
Diluted shares, weighted
191m
190m
190m
+0.6%
Shares outstanding at period end
190m
189m
189m
+0.5%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
4,338
6,899
6,698
-37.1%
Non-controlling interest
670
720
778
-6.9%
Redeemable equity
985
1,278
1,229
-23.0%
Debt
9,729
9,447
11,091
+3.0%
Other liabilities
1,676
2,471
1,347
-32.2%
Total liabilities and equity
17,398
20,815
21,143
-16.4%
Intangible assets
159
190
228
-16.0%
Cash and equivalents
1,818
1,501
1,836
+21.1%
Other assets
15,421
19,124
19,080
-19.4%
Total assets
17,398
20,815
21,143
-16.4%
10-K for the year ended 31 December 2017, filed 18 February 2020: the filing.