What is Vornado Realty's net debt?

Vornado Realty (VNO) reported net debt of $2.29B in Q1 2026.

How has Vornado Realty's net debt changed year-over-year?

Vornado Realty's net debt increased by 3240.9% year-over-year, from -$72.77M to $2.29B.

What is the long-term trend for Vornado Realty's net debt?

Over 5 years (2020 to 2025), Vornado Realty's net debt has grown at a 32.4% compound annual growth rate (CAGR), from $489.09M to $1.99B.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Vornado Realty VNO Net debt

Discontinued — last reported Q1 '26

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Other financials

Income statement

See full

Revenue$459.1M-0.5%

Net income-$7.3M-107%

EPS (diluted)-$0.12-128%

Balance sheet

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Cash & equivalents$1.2B+50.1%

Total debt$3.5B+376%

Total equity$6.0B+13.2%

Total assets$15.9B+2.1%

Cash flow

See full

Operating cash flow$47.7M-8.2%

CapEx$171.8M—

Free cash flow-$124.1M-338%

Valuation

See full

Market cap$7.11B-29.8%

Enterprise value$9.4B+3.6%

P/E8.9×-52.0×

P/S3.9×-1.7×

Profitability

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Operating margin26.9%—

Net margin44%+34.8pp

FCF margin75.8%+47.7pp

Returns & leverage

See full

Return on equity14%+11.0pp

Debt / equity0.6×+0.4×

Where this comes from

Calculated from Vornado Realty’s reported figures.

$3.5Btotal debt−$1.2Bcash and equivalents=$2.29B

The official record: Vornado Realty’s 10-Q, filed May 4, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Vornado Realty's net debt?: Vornado Realty (VNO) reported net debt of $2.29B in Q1 2026.
How has Vornado Realty's net debt changed year-over-year?: Vornado Realty's net debt increased by 3240.9% year-over-year, from -$72.77M to $2.29B.
What is the long-term trend for Vornado Realty's net debt?: Over 5 years (2020 to 2025), Vornado Realty's net debt has grown at a 32.4% compound annual growth rate (CAGR), from $489.09M to $1.99B.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.