US · USD
VNO-PN
Vornado Realty Trust 5.25% Series
- Day's range
- US$16.70 – US$17.00
- Day's volume
- US$1.5m
- 52-week range
- US$15.21 – US$17.53
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See how VNO-PN weighs in your net worth, what it has paid you and how far it is from your target allocation.
Create a free accountVNO-PN in numbers
- Market cap
- US$3.1bn
- P/E
- 31.35
- P/B
- 0.54
- Dividend yield (12m)
- 7.82%
The 12-month dividend yield of VNO-PN is 7.82%, above its 5-year average of 7.19%.
VNO-PN price history
VNO-PN risk and return
Monthly closes adjusted for splits and distributions.
| Metric | 12 months | 36 months | 60 months |
|---|---|---|---|
| Return | +4.53% | +32.02% | -3.94% |
| Volatility (annualised) | 11.46% | 13.09% | 26.19% |
| Largest drawdown | -6.40% | -7.11% | -49.73% |
| Positive months | 7/12 | 20/36 | 30/60 |
How much did investing in VNO-PN return?
US$1,000.00 invested on 01/11/2021 would be worth US$960.56 today.
- Value today in VNO-PN
- US$960.56
- Return over the period
- -3.94%
- Return per year
- -0.81%
- In the S&P 500
- US$1,690.98
With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.
VNO-PN fundamentals
Valuation
- P/E31.35
- P/B0.54
- EV/EBITDA—
- EV/EBIT—
- EV/Revenue2.77
- P/EBIT—
- P/S1.71
- P/OCF8.02
- P/FCF—
- Earnings yield—
- PEG ratio—
- Earnings per shareUS$0.54
- Book value per shareUS$31.00
Debt
- Net debtUS$1.9bn
- Net debt/EBITDA—
- Net debt/Equity0.33
- Debt/Equity0.45
- Current ratio—
- Quick ratio—
- Cash ratio—
Efficiency
- Gross margin—
- EBITDA margin—
- Operating margin—
- Net margin5.46%
- Asset turnover0.12
Profitability
- ROE1.73%
- ROA0.64%
- ROIC—
- Payout245.25%
Growth
- Revenue CAGR (5 years)4.05%
- Earnings CAGR (5 years)—
- Revenue growth (year)—
- Earnings growth (year)—
- Revenue growth (quarter)—
- Earnings growth (quarter)—
What is VNO-PN's fair price?
Two classic value formulas, with today's numbers. The current price is US$16.78.
- Graham's fair price
- US$19.32
- 15.13% above the price
√(22.50 × US$0.54 × US$31.00)
Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.
- Bazin's ceiling price
- US$21.23
- 26.53% above the price
US$1.27 (5-year average) ÷ 6%
Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.
Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.
VNO-PN indicators by year
Multiples at each year's closing price; margins and returns from that year's accounts.
| Indicator | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| P/E | 3.44 | 171.48 | 88.56 | -8.14 | 24.42 | — | — | — |
| P/B | 0.54 | 0.66 | 0.53 | 0.53 | 0.81 | — | — | — |
| Dividend yield | 7.77% | 7.30% | 8.55% | 8.08% | 4.23% | — | — | — |
| Earnings per share | US$4.91 | US$0.10 | US$0.17 | -US$2.00 | US$1.08 | -US$1.55 | US$16.48 | US$2.36 |
| Book value per share | US$31.40 | US$27.03 | US$28.94 | US$30.44 | US$32.53 | US$34.14 | US$35.25 | US$23.44 |
| ROE | 15.65% | 0.39% | 0.60% | -6.56% | 3.34% | -4.55% | 46.76% | 10.08% |
| ROIC | — | — | — | — | — | — | — | 9.62% |
| EBITDA margin | — | — | — | — | — | — | — | 48.79% |
| Net margin | 51.76% | 1.12% | 1.82% | -21.28% | 13.09% | -19.44% | 163.55% | 20.80% |
| Net debt/EBITDA | — | — | — | — | — | — | — | 1.04 |
VNO-PN financial statements
| Line | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Net revenue | US$1.8bn | US$1.8bn | US$1.8bn | US$1.8bn | US$1.6bn | US$1.5bn |
| Cost of sales | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — |
| EBITDA | — | — | — | — | — | — |
| EBIT | — | — | — | — | — | — |
| Net finance result | — | — | — | — | — | — |
| Profit before tax | US$950.7m | US$42.8m | US$62.1m | -US$361m | US$197.1m | -US$425.2m |
| Income tax | -US$13.5m | -US$22.7m | -US$29.2m | -US$21.7m | US$10.5m | -US$36.6m |
| Net income | US$937m | US$20m | US$33m | -US$383m | US$208m | -US$297m |
Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.
Does VNO-PN pay dividends?
Dividend yield per year
- 4.23%2021
- 8.08%2022
- 8.55%2023
- 7.30%2024
- 7.77%2025
- 7.82%2026
| Type | Last day to own | Payment | Per share |
|---|---|---|---|
| Dividend | 14/09/2026 | 01/10/2026 | US$0.33 |
| Dividend | 12/06/2026 | 01/07/2026 | US$0.33 |
| Dividend | 13/03/2026 | 01/04/2026 | US$0.33 |
| Dividend | 12/12/2025 | 02/01/2026 | US$0.33 |
| Dividend | 12/09/2025 | 01/10/2025 | US$0.33 |
| Dividend | 13/06/2025 | 01/07/2025 | US$0.33 |
| Dividend | 14/03/2025 | 01/04/2025 | US$0.33 |
| Dividend | 13/12/2024 | 02/01/2025 | US$0.33 |
| Dividend | 13/09/2024 | 01/10/2024 | US$0.33 |
| Dividend | 14/06/2024 | 01/07/2024 | US$0.33 |
| Dividend | 13/03/2024 | 01/04/2024 | US$0.33 |
| Dividend | 13/12/2023 | 02/01/2024 | US$0.33 |
See all 24 distributions
| Type | Last day to own | Payment | Per share |
|---|---|---|---|
| Dividend | 13/09/2023 | 02/10/2023 | US$0.33 |
| Dividend | 13/06/2023 | 03/07/2023 | US$0.33 |
| Dividend | 13/03/2023 | 03/04/2023 | US$0.33 |
| Dividend | 13/12/2022 | 03/01/2023 | US$0.33 |
| Dividend | 13/09/2022 | 03/10/2022 | US$0.33 |
| Dividend | 13/06/2022 | 01/07/2022 | US$0.33 |
| Dividend | 11/03/2022 | 01/04/2022 | US$0.33 |
| Dividend | 13/12/2021 | 03/01/2022 | US$0.33 |
| Dividend | 13/09/2021 | 01/10/2021 | US$0.33 |
| Dividend | 11/06/2021 | 01/07/2021 | US$0.33 |
| Dividend | 11/03/2021 | 01/04/2021 | US$0.33 |
| Dividend | 11/12/2020 | 04/01/2021 | US$0.13 |
About Vornado Realty Trust 5.25% Series
- Sector
- Finance, insurance and real estate
Questions about VNO-PN
How much is VNO-PN today?
VNO-PN is at US$16.78 (0.48% on the day), last traded on 02/10/2026.
How much did VNO-PN pay in dividends in 2025?
VNO-PN paid US$1.31 per share in 2025, a dividend yield of 7.77%.
What are the P/E and P/B of VNO-PN?
VNO-PN trades at a P/E of 31.35 and a P/B of 0.54.
How much did VNO-PN return in 12 months?
VNO-PN returned 4.53% in 12 months, with annualised volatility of 11.46% and a largest drawdown of -6.40%.