Vornado Realty Trust annual debt-to-equity ratio
2014
2015
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2017
2018
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2021
2022
2023
2024
2025
Vornado Realty Trust Debt-to-Equity Ratio Growth & History (VNO)
Vornado Realty Trust's debt-to-equity ratio was 0.50 for fiscal 2025.
View full Vornado Realty Trust company overviewVornado Realty Trust annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 0.50 | −0.15 | −22.98% |
| 2024 | 2024-12-31 | 0.64 | 0.04 | +7.46% |
| 2023 | 2023-12-31 | 0.60 | 0.03 | +6.01% |
| 2022 | 2022-12-31 | 0.56 | 0.09 | +20.02% |
| 2021 | 2021-12-31 | 0.47 | 0.13 | +38.43% |
| 2020 | 2020-12-31 | 0.34 | 0.15 | +83.83% |
| 2019 | 2019-12-31 | 0.18 | 0.02 | +10.79% |
| 2018 | 2018-12-31 | 0.17 | −0.01 | −3.36% |
| 2017 | 2017-12-31 | 0.17 | 0.12 | +219.92% |
| 2016 | 2016-12-31 | 0.05 | 0.03 | +97.32% |
| 2015 | 2015-12-31 | 0.03 | 0.03 | — |
| 2014 | 2014-12-31 | 0.00 | — | — |
Vornado Realty Trust quarterly debt-to-equity ratio
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Q1.15
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Q1.17
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Q4.17
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Q2.26
| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 0.57 | 0.11 | +22.67% |
| Q1 2026 | 2026-03-31 | 0.58 | 0.04 | +8.29% |
| Q4 2025 | 2025-12-31 | 0.50 | −0.15 | −22.98% |
| Q3 2025 | 2025-09-30 | 0.49 | −0.14 | −21.91% |
| Q2 2025 | 2025-06-30 | 0.46 | −0.12 | −21.01% |
| Q1 2025 | 2025-03-31 | 0.54 | −0.06 | −9.98% |
| Q4 2024 | 2024-12-31 | 0.64 | 0.04 | +7.46% |
| Q3 2024 | 2024-09-30 | 0.63 | 0.06 | +10.80% |
| Q2 2024 | 2024-06-30 | 0.59 | 0.01 | +1.94% |
| Q1 2024 | 2024-03-31 | 0.60 | 0.02 | +2.77% |
| Q4 2023 | 2023-12-31 | 0.60 | 0.03 | +6.01% |
| Q3 2023 | 2023-09-30 | 0.57 | 0.06 | +10.80% |
| Q2 2023 | 2023-06-30 | 0.58 | 0.06 | +12.23% |
| Q1 2023 | 2023-03-31 | 0.58 | 0.05 | +9.14% |
| Q4 2022 | 2022-12-31 | 0.56 | 0.09 | +20.02% |
| Q3 2022 | 2022-09-30 | 0.51 | 0.04 | +9.62% |
| Q2 2022 | 2022-06-30 | 0.51 | 0.04 | +8.93% |
| Q1 2022 | 2022-03-31 | 0.53 | 0.18 | +51.73% |
| Q4 2021 | 2021-12-31 | 0.47 | 0.13 | +38.43% |
| Q3 2021 | 2021-09-30 | 0.47 | 0.12 | +34.45% |
| Q2 2021 | 2021-06-30 | 0.47 | 0.05 | +11.67% |
| Q1 2021 | 2021-03-31 | 0.35 | −0.06 | −14.92% |
| Q4 2020 | 2020-12-31 | 0.34 | 0.15 | +83.83% |
| Q3 2020 | 2020-09-30 | 0.35 | 0.17 | +98.44% |
| Q2 2020 | 2020-06-30 | 0.42 | 0.24 | +135.88% |
| Q1 2020 | 2020-03-31 | 0.41 | 0.14 | +48.83% |
| Q4 2019 | 2019-12-31 | 0.18 | 0.02 | +10.79% |
| Q3 2019 | 2019-09-30 | 0.17 | 0.00 | +2.04% |
| Q2 2019 | 2019-06-30 | 0.18 | 0.00 | +2.29% |
| Q1 2019 | 2019-03-31 | 0.28 | 0.10 | +61.00% |
| Q4 2018 | 2018-12-31 | 0.17 | −0.01 | −3.36% |
| Q3 2018 | 2018-09-30 | 0.17 | 0.09 | +109.71% |
| Q2 2018 | 2018-06-30 | 0.18 | 0.12 | +224.59% |
| Q1 2018 | 2018-03-31 | 0.17 | 0.12 | +215.49% |
| Q4 2017 | 2017-12-31 | 0.17 | 0.12 | +219.92% |
| Q3 2017 | 2017-09-30 | 0.08 | 0.02 | +38.73% |
| Q2 2017 | 2017-06-30 | 0.05 | −0.00 | −4.27% |
| Q1 2017 | 2017-03-31 | 0.05 | −0.00 | −4.24% |
| Q4 2016 | 2016-12-31 | 0.05 | 0.03 | +97.32% |
| Q3 2016 | 2016-09-30 | 0.06 | 0.06 | — |
| Q2 2016 | 2016-06-30 | 0.06 | 0.06 | — |
| Q1 2016 | 2016-03-31 | 0.06 | 0.06 | — |
| Q4 2015 | 2015-12-31 | 0.03 | 0.03 | — |
| Q3 2015 | 2015-09-30 | 0.00 | — | — |
| Q2 2015 | 2015-06-30 | 0.00 | — | — |
| Q1 2015 | 2015-03-31 | 0.00 | — | — |
| Q4 2014 | 2014-12-31 | 0.00 | — | — |
Vornado Realty Trust debt-to-equity ratio trends
Over the last five fiscal years, Vornado Realty Trust's debt-to-equity ratio increased from 0.34 to 0.50, a change of 0.16. The latest reported quarter, Q2 2026, shows 0.57.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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