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Vornado Realty VNO Return on invested capital

Return on invested capital at other companies

Equity Residential logo
Equity ResidentialEQR
13.1%+1.0pp
Mid-America Apartment Communities logo
Mid-America Apartment CommunitiesMAA
10.2%-2.3pp
Toll Brothers logo
Toll BrothersTOL
21.9%-4.1pp
D.R. Horton logo
D.R. HortonDHI
14.7%-5.6pp

Other financials

Income statement

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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

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Operating cash flow$47.7M-8.2%
CapEx$171.8M
Free cash flow-$124.1M-338%

Valuation

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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

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Return on equity14%+11.0pp
Debt / equity0.6×+0.4×

Where this comes from

Calculated from Vornado Realty’s reported figures.

Based on trailing twelve months.

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 return on invested capital?
Vornado Realty (VNO) reported return on invested capital of 17% in Q1 2026.
How has Vornado Realty's return on invested capital changed year-over-year?
Vornado Realty's return on invested capital increased by 82.4% year-over-year, from 9.3% to 17%.
What is the long-term trend for Vornado Realty's return on invested capital?
Over 4 years (2020 to 2025), Vornado Realty's return on invested capital has grown at a 53.5% compound annual growth rate (CAGR), from -3% to 16.6%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.