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Vornado Realty VNO Tenant services — Revenue

Other product segments

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$39.34M+7.9%
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$5.17M+6.1%
Management and leasing fees
$2.72M-10.4%

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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

Reported directly by Vornado Realty in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

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 tenant services — revenue?
Vornado Realty (VNO) reported tenant services — revenue of $11.53M in Q1 2026.
How has Vornado Realty's tenant services — revenue changed year-over-year?
Vornado Realty's tenant services — revenue increased by 5.5% year-over-year, from $10.94M to $11.53M.
What is the long-term trend for Vornado Realty's tenant services — revenue?
Over 4 years (2021 to 2025), Vornado Realty's tenant services — revenue has grown at a 4.8% compound annual growth rate (CAGR), from $37.45M to $45.24M.
What does tenant services — revenue mean?
This metric represents the total revenue generated from ancillary services provided to tenants within the company's real estate portfolio, excluding property tax reimbursements. It reflects the income derived from value-added offerings such as building management services, utilities, or specialized tenant support. Monitoring this revenue stream helps assess the company's ability to monetize its property management operations beyond base rental income.