Vornado Realty Trust annual operating margin
2007
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2025
Vornado Realty Trust Operating Margin Growth & History (VNO)
Vornado Realty Trust's operating margin was 15.03% for fiscal 2025.
View full Vornado Realty Trust company overviewVornado Realty Trust annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 15.03% | +0.27 pp |
| 2024 | 2024-12-31 | 14.76% | −1.84 pp |
| 2023 | 2023-12-31 | 16.60% | +0.60 pp |
| 2022 | 2022-12-31 | 15.99% | — |
| 2018 | 2018-12-31 | 26.94% | −2.26 pp |
| 2017 | 2017-12-31 | 29.20% | +0.27 pp |
| 2016 | 2016-12-31 | 28.94% | −2.26 pp |
| 2015 | 2015-12-31 | 31.20% | +1.36 pp |
| 2014 | 2014-12-31 | 29.83% | +0.49 pp |
| 2013 | 2013-12-31 | 29.34% | +1.87 pp |
| 2012 | 2012-12-31 | 27.47% | −2.58 pp |
| 2011 | 2011-12-31 | 30.05% | +0.38 pp |
| 2010 | 2010-12-31 | 29.67% | +0.25 pp |
| 2009 | 2009-12-31 | 29.42% | −0.40 pp |
| 2008 | 2008-12-31 | 29.82% | −4.07 pp |
| 2007 | 2007-12-31 | 33.89% | — |
Vornado Realty Trust quarterly operating margin
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Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 6.11% | −8.96 pp |
| Q1 2026 | 2026-03-31 | 11.26% | — |
| Q4 2025 | 2025-12-31 | 14.59% | — |
| Q3 2025 | 2025-09-30 | 12.63% | — |
| Q2 2025 | 2025-06-30 | 15.07% | — |
| Q4 2018 | 2018-12-31 | 24.98% | −5.00 pp |
| Q3 2018 | 2018-09-30 | 28.96% | −1.73 pp |
| Q2 2018 | 2018-06-30 | 28.88% | −1.22 pp |
| Q1 2018 | 2018-03-31 | 24.94% | −1.01 pp |
| Q4 2017 | 2017-12-31 | 29.99% | −17.65 pp |
| Q3 2017 | 2017-09-30 | 30.68% | +1.15 pp |
| Q2 2017 | 2017-06-30 | 30.09% | −7.41 pp |
| Q1 2017 | 2017-03-31 | 25.94% | +26.00 pp |
| Q4 2016 | 2016-12-31 | 47.64% | +37.38 pp |
| Q3 2016 | 2016-09-30 | 29.53% | −0.97 pp |
| Q2 2016 | 2016-06-30 | 37.51% | +6.13 pp |
| Q1 2016 | 2016-03-31 | −0.06% | −27.70 pp |
| Q4 2015 | 2015-12-31 | 10.26% | −18.76 pp |
| Q3 2015 | 2015-09-30 | 30.50% | −0.97 pp |
| Q2 2015 | 2015-06-30 | 31.38% | −1.57 pp |
| Q1 2015 | 2015-03-31 | 27.64% | +1.81 pp |
| Q4 2014 | 2014-12-31 | 29.02% | +37.62 pp |
| Q3 2014 | 2014-09-30 | 31.47% | −3.63 pp |
| Q2 2014 | 2014-06-30 | 32.95% | +1.65 pp |
| Q1 2014 | 2014-03-31 | 25.83% | −9.00 pp |
| Q4 2013 | 2013-12-31 | −8.60% | −29.48 pp |
| Q3 2013 | 2013-09-30 | 35.11% | +6.67 pp |
| Q2 2013 | 2013-06-30 | 31.30% | +1.21 pp |
| Q1 2013 | 2013-03-31 | 34.83% | +7.81 pp |
| Q4 2012 | 2012-12-31 | 20.89% | −3.66 pp |
| Q3 2012 | 2012-09-30 | 28.44% | −2.94 pp |
| Q2 2012 | 2012-06-30 | 30.09% | −3.98 pp |
| Q1 2012 | 2012-03-31 | 27.01% | −1.92 pp |
| Q4 2011 | 2011-12-31 | 24.55% | +14.86 pp |
| Q3 2011 | 2011-09-30 | 31.38% | −1.41 pp |
| Q2 2011 | 2011-06-30 | 34.07% | −1.14 pp |
| Q1 2011 | 2011-03-31 | 28.93% | −4.80 pp |
| Q4 2010 | 2010-12-31 | 9.69% | −11.73 pp |
| Q3 2010 | 2010-09-30 | 32.79% | −0.94 pp |
| Q2 2010 | 2010-06-30 | 35.21% | +2.28 pp |
| Q1 2010 | 2010-03-31 | 33.73% | +5.43 pp |
| Q4 2009 | 2009-12-31 | 21.42% | — |
| Q3 2009 | 2009-09-30 | 33.73% | +2.83 pp |
| Q2 2009 | 2009-06-30 | 32.93% | −2.07 pp |
| Q1 2009 | 2009-03-31 | 28.30% | — |
| Q3 2008 | 2008-09-30 | 30.90% | — |
| Q2 2008 | 2008-06-30 | 35.00% | — |
Vornado Realty Trust operating margin trends
Between the periods ended 2007-12-31 and 2025-12-31, Vornado Realty Trust's operating margin decreased from 33.89% to 15.03%, a change of −18.86 percentage points. The latest reported quarter, Q2 2026, shows 6.11%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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