Vornado Realty Trust (VNO) FY2024 results: revenue $1.8 billion, down 1.3% on the year
Vornado Realty Trust (VNO) reported revenue of $1.8 billion for fiscal 2024, the year ended 31 December 2024, down 1.3% on the year before. Net income was $70 million, down 33.3%, and diluted earnings per share $0.04. The figures are the company's own, from the 10-K it filed with the SEC on 10 February 2025.
Revenue
$1.8 billion
-1.3% on the year
FY2017FY2024
Operating margin
n/a
FY2017FY2024
Net income
$70 million
-33.3% on the year
FY2017FY2024
Diluted EPS
$0.04
-82.6% on the year
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ 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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
538
648
799
-17.0%
Capital expenditure
0.0
33.1
3.0
Free cash flow
538
615
796
-12.6%
Free cash flow margin
30.1%
34.0%
44.2%
Cash from investing
-597
-129
-907
Cash from financing
-252
-279
-801
Depreciation and amortisation
469
458
526
+2.6%
Share-based compensation
30.2
43.2
29.2
-30.2%
Buybacks
0.0
29.2
0.0
Dividends paid
141
129
407
+9.3%
Dividend per share
$0.74
$0.68
$2.12
+9.6%
Diluted shares, weighted
197m
192m
192m
+2.5%
Shares outstanding at period end
191m
190m
192m
+0.2%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
5,158
5,509
5,840
-6.4%
Non-controlling interest
179
196
237
-8.8%
Redeemable equity
835
638
437
+30.7%
Debt
8,243
8,251
8,389
-0.1%
Other liabilities
1,584
1,592
1,591
-0.5%
Total liabilities and equity
15,999
16,188
16,493
-1.2%
Intangible assets
118
127
140
-7.0%
Investments
n/a
0.0
472
Cash and equivalents
734
997
890
-26.4%
Other assets
15,146
15,064
14,992
+0.6%
Total assets
15,999
16,188
16,493
-1.2%
10-K for the year ended 31 December 2024, filed 10 February 2025: the filing.