Vornado Realty Trust (VNO) FY2020 results: revenue $1.5 billion, down 20.6% on the year
Vornado Realty Trust (VNO) reported revenue of $1.5 billion for fiscal 2020, the year ended 31 December 2020, down 20.6% on the year before. Net income was -$297 million, and diluted earnings per share $-1.83. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2021.
Revenue
$1.5 billion
-20.6% on the year
FY2013FY2020
Operating margin
n/a
15.6% a year earlier
FY2013FY2020
Net income
-$297 million
FY2013FY2020
Diluted EPS
-$1.83
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,528
1,925
2,164
-20.6%
Operating income
n/a
300
583
Operating margin
n/a
15.6%
26.9%
Pre-tax income
-425
3,438
460
Income tax
36.6
103
37.6
-64.6%
Effective tax rate
n/a
3.0%
8.2%
Net income
-297
3,148
450
Net margin
-19.4%
163.6%
20.8%
Diluted EPS
-$1.83
$16.21
$2.01
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
424
663
803
-36.0%
Capital expenditure
1.2
69.7
235
-98.3%
Free cash flow
423
593
568
-28.6%
Free cash flow margin
27.7%
30.8%
26.3%
Cash from investing
-87.8
2,463
-878
Cash from financing
-213
-2,236
-1,123
Depreciation and amortisation
418
439
473
-4.8%
Share-based compensation
48.7
53.9
31.7
-9.7%
Dividends paid
827
504
479
+64.2%
Dividend per share
$2.38
$1.95
$2.52
+22.1%
Diluted shares, weighted
191m
191m
191m
+0.0%
Shares outstanding at period end
191m
191m
191m
+0.2%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
6,533
6,732
4,465
-3.0%
Non-controlling interest
415
579
643
-28.3%
Redeemable equity
606
889
784
-31.8%
Debt
7,399
7,407
9,837
-0.1%
Other liabilities
1,268
2,681
1,453
-52.7%
Total liabilities and equity
16,222
18,287
17,181
-11.3%
Intangible assets
23.9
31.0
137
-23.0%
Cash and equivalents
1,624
1,515
571
+7.2%
Other assets
14,573
16,741
16,473
-12.9%
Total assets
16,222
18,287
17,181
-11.3%
10-K for the year ended 31 December 2020, filed 16 February 2021: the filing.