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 | $235.7M | +9846.41% | +53.28% |
| Q3 2022 | 2022-09-30 | $128.2M | $205.5M | — | +28.03% |
| Q2 2022 | 2022-06-30 | $258.6M | $153.5M | +146.02% | +57.03% |
| Q1 2022 | 2022-03-31 | $171.0M | — | — | +38.68% |
| Q3 2021 | 2021-09-30 | $2.4M | — | — | +0.59% |
| Q3 2020 | 2020-09-30 | −$77.3M | — | — | −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 SEC-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 filings at SEC.gov ↗