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Vornado Realty VNO Trade shows — Operating Lease, Lease Income

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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$7.45B+2.7%
Enterprise value$9.74B+11.7%
P/E9.4×+1.1×
P/S4.1×+0.1×

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:OperatingLeaseLeaseIncome.

The source filing: Vornado Realty’s 10-Q, filed May 4, 2026.

Filed
May 4, 2026, 4:24 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000899689-26-000026
(Amounts in thousands)For the Three Months Ended March 31, 2026 / TotalFor the Three Months Ended March 31, 2026 / New York(1)For the Three Months Ended March 31, 2026 / Other(1)For the Three Months Ended March 31, 2025 / TotalFor the Three Months Ended March 31, 2025 / New York(1)For the Three Months Ended March 31, 2025 / Other(1)
Property rentals$373,355$305,523$67,832$382,514$310,688$71,826
Trade shows6,6026,6026,4366,436
Sales-type lease income2,5302,530
Lease revenues(2)382,487308,05374,434388,950310,68878,262
Tenant services11,5328,4643,06810,9358,1602,775
Parking revenues5,1654,0281,1374,8703,8241,046
Rental revenues399,184320,54578,639404,755322,67282,083
BMS cleaning fees39,34342,069(2,726)36,47638,496(2,020)

Item 1. Financial Statements of Vornado Realty Trust:

FAQ

What is Vornado Realty's trade shows — operating lease, lease income?
Vornado Realty (VNO) reported trade shows — operating lease, lease income of $6.6M in Q1 2026.
How has Vornado Realty's trade shows — operating lease, lease income changed year-over-year?
Vornado Realty's trade shows — operating lease, lease income increased by 2.6% year-over-year, from $6.44M to $6.6M.
What is the long-term trend for Vornado Realty's trade shows — operating lease, lease income?
Over 4 years (2021 to 2025), Vornado Realty's trade shows — operating lease, lease income has grown at a 3.1% compound annual growth rate (CAGR), from $19.48M to $22M.
What does trade shows — operating lease, lease income mean?
This metric represents the total rental income generated from operating leases specifically attributed to the trade shows business segment. It reflects the revenue stream derived from leasing space or facilities to exhibitors and event organizers within the company's portfolio. Monitoring this figure helps investors assess the demand for specialized event space and the segment's contribution to overall property-level profitability.

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