Vornado Realty Trust annual free cash flow
2017
2018
2019
2020
2021
2022
2023
2024
2025
Vornado Realty Trust Free Cash Flow (FCF) History (VNO)
Vornado Realty Trust reported $961.7M in free cash flow for fiscal 2025, an increase of 78.85% from the previous fiscal year, with a free cash flow margin of 53.12%.
View full Vornado Realty Trust company overviewVornado Realty Trust free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $961.7M | $424.0M | +78.85% | +53.12% |
| 2024 | 2024-12-31 | $537.7M | −$77.3M | −12.57% | +30.08% |
| 2023 | 2023-12-31 | $615.0M | −$180.9M | −22.73% | +33.96% |
| 2022 | 2022-12-31 | $795.9M | $37.1M | +4.89% | +44.22% |
| 2021 | 2021-12-31 | $758.8M | $335.7M | +79.35% | +47.75% |
| 2020 | 2020-12-31 | $423.1M | −$169.8M | −28.63% | +27.69% |
| 2019 | 2019-12-31 | $592.8M | $365.0M | +160.21% | +30.80% |
| 2018 | 2018-12-31 | $227.8M | −$601.7M | −72.54% | +10.53% |
| 2017 | 2017-12-31 | $829.5M | — | — | +39.80% |
Vornado Realty Trust quarterly free cash flow
Q3.19
Q3.20
Q3.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $163.7M | −$840.4M | −83.70% | +35.41% |
| Q1 2026 | 2026-03-31 | −$124.1M | −$176.1M | — | −27.03% |
| Q4 2025 | 2025-12-31 | $94.8M | −$111.3M | −54.00% | +20.90% |
| Q3 2025 | 2025-09-30 | −$189.3M | −$294.7M | — | −41.73% |
| Q2 2025 | 2025-06-30 | $1.00B | $809.5M | +415.79% | +227.47% |
| Q1 2025 | 2025-03-31 | $52.0M | $20.5M | +65.27% | +11.27% |
| Q4 2024 | 2024-12-31 | $206.2M | −$5.1M | −2.41% | +45.04% |
| Q3 2024 | 2024-09-30 | $105.4M | $43.2M | +69.60% | +23.77% |
| Q2 2024 | 2024-06-30 | $194.7M | −$56.0M | −22.35% | +43.24% |
| Q1 2024 | 2024-03-31 | $31.5M | −$59.4M | −65.35% | +7.22% |
| Q4 2023 | 2023-12-31 | $211.3M | −$26.8M | −11.27% | +47.81% |
| Q3 2023 | 2023-09-30 | $62.1M | −$66.1M | −51.53% | +13.78% |
| Q2 2023 | 2023-06-30 | $250.7M | −$7.9M | −3.05% | +53.08% |
| Q1 2023 | 2023-03-31 | $90.9M | −$80.1M | −46.86% | +20.38% |
| Q4 2022 | 2022-12-31 | $238.1M | — | — | +53.28% |
| Q3 2022 | 2022-09-30 | $128.2M | $125.8M | +5255.14% | +28.03% |
| Q2 2022 | 2022-06-30 | $258.6M | — | — | +57.03% |
| Q1 2022 | 2022-03-31 | $171.0M | — | — | +38.68% |
| Q3 2021 | 2021-09-30 | $2.4M | $79.7M | — | +0.59% |
| Q3 2020 | 2020-09-30 | −$77.3M | −$182.5M | — | −21.25% |
| Q3 2019 | 2019-09-30 | $105.1M | — | — | +22.56% |
Vornado Realty Trust free cash flow growth trends
Over the last five reported fiscal years, free cash flow grew from $423.1M to $961.7M, a compound annual growth rate of 17.85%. Vornado Realty Trust's latest reported quarter, Q2 2026, generated $163.7M in free cash flow, a decrease of 83.70% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Vornado Realty Trust source filings ↗