Vornado Realty Trust Financial Ratios — VNO Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	3.23	2.9	2.26	4.19	3.6	4.32	1.19	2.6	17.75	-1.72	1.05	-2.05	0.65	0.44	5.74
Return on Capital (%)	9.02	8.17	- -	9.5	- -	9.51	4.81	9.54	39.44	- -	- -	- -	4.98	4.18	17.87
Return on Invested Capital (%)	4.32	3.84	- -	3.76	- -	3.08	3.15	3.57	2.55	- -	- -	- -	1.03	0.81	1.8
Gross Margin (%)	94.6	91.45	98.6	100	100	57.85	57.46	55.47	52.31	48.36	49.83	51.45	50.02	100	100
EBITDA Margin (%)	52.85	49.5	54.86	55.86	60.34	59.38	55.04	50.13	44.51	36.8	42.64	45.23	41.86	41.02	41.63
Operating Margin (%)	31.36	28.45	30.42	30.63	31.83	29.67	29.62	28.28	21.7	9.44	15.42	15.99	16.6	14.76	15.03
Incremental Operating Margin (%)	-14.5	175.3	15.48	66.89	23.36	-205.05	28.42	-6.98	81.21	68.91	164.37	20.33	113.98	156.37	36.41
Pretax Margin (%)	22.14	18.2	-0.53	18.71	27.75	29.19	15.34	21.24	178.61	-27.83	12.4	-20.05	3.43	2.4	52.51
Profit Margin (%)	24.5	23.3	20.7	37.4	38.3	45.26	10.91	20.8	163.55	-19.44	11.07	-19.25	5.82	3.94	49.99
Net Income to Common Margin (%)	22.08	20.4	17.1	33.88	34.24	41.47	7.77	18.46	160.95	-22.82	6.93	-22.7	2.4	0.46	46.56
Effective Tax Rate (%)	4	1.69	- -	2.15	- -	1.35	13.25	8.19	3.01	- -	- -	- -	47.05	53.05	1.42
Dvd Payout Ratio (%)	86.02	146.77	20,954.89	112.71	72.55	83.35	199.3	140.66	14.52	-123.79	234.44	-84.55	-126.74	-152.93	15.57
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	10,077	11,127	9,979	9,530	11,091	9,447	9,729	9,837	7,905	7,800	8,986	9,125	8,984	8,993	7,885
ST Debt	138	1,170	296	- -	550	116	- -	80	575	575	575	575	575	575	720
LT Debt	9,939	9,957	9,683	9,530	10,541	9,331	9,729	9,757	7,330	7,225	8,411	8,550	8,409	8,418	7,165
Total Debt/EBITDA	7.05	8.48	7.91	7.38	9.26	7.94	8.48	9.07	9.23	13.87	13.26	11.21	11.85	12.26	10.46
Net Debt/EBITDA	6.63	7.75	7.45	6.45	7.72	6.68	6.9	8.54	6.88	10.27	10.12	9.21	9.57	10.24	8.42
Total Debt/EBIT	11.89	14.77	14.27	13.45	17.55	15.89	15.76	16.08	18.93	54.05	36.68	31.7	29.89	34.08	28.97
Net Debt/EBIT	11.17	13.49	13.43	11.76	14.65	13.37	12.82	15.14	14.11	40.01	27.98	26.05	24.13	28.46	23.31
EBITDA to Interest Expense	2.86	2.84	3.14	3.52	4.28	3.99	3.68	3.43	3.26	2.67	3.21	3.16	2.33	1.99	2.25
EBITDA-CapEx/Interest Expense	2.16	2.84	3.14	3.52	2.58	3.99	2.54	3.43	3.26	2.67	3.21	3.16	2.33	1.99	2.25
EBIT to Interest Expense	1.7	1.63	1.74	1.93	2.26	1.99	1.98	1.94	1.59	0.68	1.16	1.12	0.92	0.72	0.81
Interest Expense	500	462	402	367	280	298	312	316	263	211	211	258	326	368	335
Common Equity/Total Assets	-6.82	-7.1	-8.6	-7.08	-8.32	-6.78	-24	-24.21	-10.64	-17.05	-17.79	-23.57	-24.72	-25.84	-22.45
Long-Term Debt/Equity (%)	114.64	112.53	112.61	107.97	121.09	104.88	162.36	165.61	89.39	95.64	116.76	131.27	132.56	136.39	105.3
Long-Term Debt/Capital (%)	86.09	77.8	85.22	83.66	83.55	84.28	120.11	122.04	88.13	99.83	104.3	120.53	120.14	119.33	111.93
Long-Term Debt/Total Assets (%)	48.61	45.13	48.18	45.04	49.86	44.83	55.92	56.79	40.08	44.54	48.71	51.84	51.95	52.61	46.16
Total Debt/Equity (%)	116.24	125.76	116.05	107.97	127.41	106.18	162.36	166.96	96.4	103.25	124.74	140.1	141.62	145.7	115.88
Total Debt/Capital (%)	87.28	86.94	87.83	83.66	87.91	85.33	120.11	123.04	95.04	107.78	111.43	128.63	128.35	127.48	123.18
Total Debt/Total Assets (%)	49.28	50.43	49.65	45.04	52.46	45.38	55.92	57.25	43.23	48.08	52.04	55.33	55.5	56.21	50.8
Net Debt to Equity	109.24	114.9	109.27	94.39	106.32	89.31	132.03	157.27	71.85	76.44	95.17	115.14	114.36	121.66	93.24
Net Debt/Capital (%)	86.58	85.88	87.17	81.74	85.85	83.02	125.92	124.81	86.61	102.89	108.75	120.87	120.85	118.81	114.1
EBITDA	1,429	1,311	1,261	1,292	1,198	1,190	1,147	1,085	857	562	678	814	758	733	754
EBITDA-CapEx	1,079	1,311	1,261	1,292	722	1,190	791	1,085	857	562	678	814	758	733	754
Operating Income (Loss)	848	754	699	708	632	595	617	612	418	144	245	288	301	264	272

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	2.4	0.58	0.81	2.68	2	2.93	4.37	1.12	1.07	1.62	1.42	1.28	0.98	0.77	0.77
Current Ratio	3.07	1.4	2.45	5.07	2.99	4.96	6.98	3.57	2.02	2.6	2.2	2.17	2	1.81	1.8
Quick Ratio	4.22	1.29	2.08	4.68	3.03	4.77	6.74	3.09	1.66	2.37	2.02	2.01	1.74	1.58	1.67
CFO/Avg Current Liab	0.75	0.74	0.88	1.95	0.93	1.32	1.85	1.73	0.69	0.35	0.68	0.69	0.62	0.55	1.23
Common Equity/Total Assets	-6.82	-7.1	-8.6	-7.08	-8.32	-6.78	-24	-24.21	-10.64	-17.05	-17.79	-23.57	-24.72	-25.84	-22.45
Long-Term Debt/Equity (%)	114.64	112.53	112.61	107.97	121.09	104.88	162.36	165.61	89.39	95.64	116.76	131.27	132.56	136.39	105.3
Long-Term Debt/Capital (%)	86.09	77.8	85.22	83.66	83.55	84.28	120.11	122.04	88.13	99.83	104.3	120.53	120.14	119.33	111.93
Long-Term Debt/Total Assets (%)	48.61	45.13	48.18	45.04	49.86	44.83	55.92	56.79	40.08	44.54	48.71	51.84	51.95	52.61	46.16
Total Debt/Equity (%)	116.24	125.76	116.05	107.97	127.41	106.18	162.36	166.96	96.4	103.25	124.74	140.1	141.62	145.7	115.88
Total Debt/Capital (%)	87.28	86.94	87.83	83.66	87.91	85.33	120.11	123.04	95.04	107.78	111.43	128.63	128.35	127.48	123.18
Total Debt/Total Assets (%)	49.28	50.43	49.65	45.04	52.46	45.38	55.92	57.25	43.23	48.08	52.04	55.33	55.5	56.21	50.8
CFO/Total Liabilities	5.96	6.24	9.05	9.21	5.4	8.35	7.54	7.11	6.57	4.89	7.57	8.01	6.58	5.47	14.44
CFO/CapEx	2.01	- -	- -	- -	1.41	- -	2.42	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	0.77	0.67	0.81	1.01	0.92	1.02	0.85	0.62	0.88	0.5	0.47	0.17	0.23	0.35	0.37

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	3.13	2.9	2.47	2.56	2.06	2.03	2.16	2.17	2.08	1.92	2.14	2.38	2.34	2.33	2.27
Days Sales Outstanding	116.6	125.93	148.04	142.72	177.08	179.93	169.15	168.17	175.07	189.87	170.84	153.31	155.92	156.92	160.84
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	0.34	1.07	- -	- -	- -	- -	4.26	2.28	2.11	1.82	1.53	2.85	- -	- -	- -
Accounts Payable Turnover Days	1,078.79	341.06	- -	- -	- -	- -	85.59	160.39	173.16	200.58	238.21	128.12	- -	- -	- -
Cash Conversion Cycle	-962.19	-215.13	148.04	- -	- -	179.93	83.56	7.78	1.91	-10.71	-67.36	25.2	155.92	- -	- -
Inventory to Cash Days	116.6	125.93	148.04	- -	- -	179.93	169.15	168.17	175.07	189.87	170.84	153.31	155.92	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	10,369	10,890	12,149	16,161	15,215	15,951	14,817	11,817	12,693	7,137	8,018	3,991	5,396	8,010	6,382
- Cash & Cash Equivalents	607	960	583	1,198	1,836	1,501	1,818	571	1,515	1,624	1,760	890	997	734	841
+ Preferred Equity and Hybrid Capital	1,022	1,240	1,277	1,277	1,277	1,038	892	891	891	1,182	1,182	1,182	1,182	1,182	1,182
+ Minority/Non Controlling Interest	1,841	1,997	1,833	2,082	2,008	1,998	1,655	1,426	1,468	1,021	968	673	835	1,014	818
+ Total Debt	10,077	11,127	9,979	9,530	11,091	9,447	9,729	9,837	7,905	7,800	8,986	9,125	8,984	8,993	7,885
Enterprise Value	21,960	24,295	24,655	27,852	27,604	26,933	25,276	23,401	21,442	15,516	17,394	13,610	15,400	18,465	15,426
Total Capital	11,545	12,799	11,362	11,391	12,616	11,071	8,101	7,995	8,317	7,237	8,065	7,094	7,000	7,054	6,401
Total Debt/Capital (%)	87.28	86.94	87.83	83.66	87.91	85.33	120.11	123.04	95.04	107.78	111.43	128.63	128.35	127.48	123.18
Total Debt / EV	0.46	0.46	0.4	0.34	0.4	0.35	0.38	0.42	0.37	0.5	0.52	0.67	0.58	0.49	0.51
EV/Sales	8.13	9.17	10.72	12.04	13.9	13.44	12.13	10.81	11.14	10.16	10.95	7.56	8.5	10.33	8.52
EV/EBITDA	15.37	18.52	19.55	21.56	23.04	22.64	22.03	21.58	25.03	27.6	25.67	16.72	20.31	25.18	20.47
EV/EBIT	25.91	32.24	35.25	39.32	43.68	45.3	40.94	38.25	51.33	107.52	71	47.28	51.24	69.98	56.68
EV/Cash Flow to Firm	18.58	18.99	21.39	18.63	27.74	20.89	22.36	21.41	23.37	23.75	17.68	12.69	18.76	25.98	9.71
EV/Free Cash Flow to Firm	14.34	18.99	21.39	18.63	18.76	20.89	17.01	21.41	23.37	23.75	17.68	12.69	18.76	25.98	9.71
Diluted Market Cap	10,466	10,933	12,199	16,258	15,313	15,951	14,953	11,876	12,708	7,137	8,042	3,991	5,420	8,266	6,691
Diluted Enterprise Value	22,798	24,337	24,705	27,948	27,853	26,933	25,411	23,459	21,457	15,516	17,418	14,082	15,424	18,721	15,735
EV per Share	119.15	130.75	131.89	148.49	146.56	142.43	133.36	122.83	112.34	81.18	90.81	70.97	80.63	96.91	80.45
TTM Sales	2,703	2,649	2,299	2,313	1,985	2,004	2,084	2,164	1,925	1,528	1,589	1,800	1,811	1,788	1,810
TTM EBITDA	1,429	1,311	1,261	1,292	1,198	1,190	1,147	1,085	857	562	678	814	758	733	754
TTM Operating Income	848	754	699	708	632	595	617	612	418	144	245	288	301	264	272
TTM Cash Flow to Firm	1,182	1,279	1,153	1,495	995	1,289	1,130	1,093	917	653	984	1,072	821	711	1,588
TTM Free Cash Flow to Firm	1,532	1,279	1,153	1,495	1,471	1,289	1,486	1,093	917	653	984	1,072	821	711	1,588

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	9.95	13.25	11.72	14.32	13.34	16.03	12.3	14.8	19.18	16.82	10.56	5	8.36	15.37	5.32
EV/EBIT	25.91	32.24	35.25	39.32	43.68	45.3	40.94	38.25	51.33	107.52	71	47.28	51.24	69.98	56.68
Enterprise Value	21,960	24,295	24,655	27,852	27,604	26,933	25,276	23,401	21,442	15,516	17,394	13,610	15,400	18,465	15,426
Low Price	50.06	53.17	55.77	64.28	68.37	63.77	71.9	59.48	58.6	27.64	35.02	20.03	12.31	22.42	29.68
EV/Sales	8.13	9.17	10.72	12.04	13.9	13.44	12.13	10.81	11.14	10.16	10.95	7.56	8.5	10.33	8.52
EV/EBITDA	15.37	18.52	19.55	21.56	23.04	22.64	22.03	21.58	25.03	27.6	25.67	16.72	20.31	25.18	20.47
Price/Earnings	17.38	20.16	30.9	20.63	22.38	19.19	91.45	29.59	4.1	- -	72.82	- -	124.39	968.01	7.57
Price/Earnings Average	19.34	20.54	29.68	18.12	22.62	17.73	92.31	33.53	4.03	-22.95	75.89	-15.25	89.03	731.47	8.71
Price/Earnings High	22.33	22.28	31.99	21.07	25.91	19.99	105.62	37.36	4.35	-37.64	88.56	-22.18	141.83	1,073.7	10.32
Price/Earnings Low	15.46	18.28	26.52	15.39	18.94	14.51	84.11	28.38	3.61	-15.15	60.92	-9.4	54.2	516.24	6.75
Price/Book Value	-7.44	-6.95	-7.03	-10.79	-8.65	-11.3	-3.55	-2.84	-6.52	-2.58	-2.61	-1.03	-1.35	-1.94	-1.83
Price/Book Value Average	-8.28	-7.09	-6.76	-9.48	-8.74	-10.44	-3.58	-3.22	-6.42	-2.89	-2.72	-1.6	-0.97	-1.46	-2.11
Price/Book Value High	-9.56	-7.69	-7.28	-11.02	-10.01	-11.77	-4.1	-3.59	-6.92	-4.75	-3.17	-2.33	-1.54	-2.15	-2.5
Price/Book Value Low	-6.62	-6.31	-6.04	-8.05	-7.32	-8.54	-3.26	-2.72	-5.75	-1.91	-2.18	-0.99	-0.59	-1.03	-1.63
Price/Tangible Book Value	1.41	1.51	1.73	2.21	2.11	2.08	3	2.43	1.74	1.12	1.37	0.77	1.07	1.64	1.16
Price/Tangible Book Value Average	1.57	1.54	1.66	1.94	2.14	1.92	3.03	2.75	1.72	1.26	1.42	1.2	0.77	1.24	1.33
Price/Tangible Book Value High	1.81	1.67	1.79	2.25	2.45	2.17	3.46	3.07	1.85	2.07	1.66	1.75	1.22	1.82	1.58
Price/Tangible Book Value Low	1.25	1.37	1.49	1.65	1.79	1.57	2.76	2.33	1.54	0.83	1.14	0.74	0.47	0.88	1.03
Price/Sales	3.84	4.11	5.28	6.99	7.66	7.96	7.11	5.46	6.59	4.67	5.05	2.22	2.98	4.48	3.52
Price/Sales Average	4.27	4.19	5.08	6.14	7.74	7.35	7.18	6.19	6.49	5.24	5.26	3.46	2.13	3.39	4.05
Price/Sales High	4.93	4.54	5.47	7.14	8.87	8.29	8.21	6.9	7	8.59	6.14	5.04	3.4	4.97	4.81
Price/Sales Low	3.41	3.73	4.53	5.21	6.49	6.02	6.54	5.24	5.81	3.46	4.22	2.13	1.3	2.39	3.14
Price/Cash Flow	14.76	13.2	11.67	14.24	22.64	16.03	17.23	14.72	19.16	16.82	10.53	5	8.33	14.9	5.07
Price/Cash Flow Average	16.43	13.45	11.21	12.5	22.88	14.81	17.39	16.68	18.85	18.86	10.97	7.8	5.96	11.26	5.83
Price/Cash Flow High	18.97	14.59	12.08	14.54	26.21	16.69	19.89	18.59	20.32	30.94	12.8	11.34	9.49	16.52	6.91
Price/Cash Flow Low	13.13	11.97	10.02	10.62	19.16	12.12	15.84	14.12	16.88	12.45	8.81	4.81	3.63	7.94	4.52
Price/Free Cash Flow Average	11.07	13.5	11.26	12.58	13.48	14.81	12.41	16.76	18.88	18.86	11	7.8	5.99	11.62	6.11
Price/Free Cash Flow High	12.78	14.65	12.13	14.63	15.45	16.69	14.2	18.68	20.35	30.94	12.84	11.34	9.53	17.05	7.25
Price/Free Cash Flow Low	8.85	12.02	10.06	10.68	11.29	12.12	11.31	14.19	16.9	12.45	8.83	4.81	3.64	8.2	4.74
EV/Sales Average	8.83	9.25	10.51	11.19	14.06	12.83	12.19	11.54	11.04	10.72	11.16	9.07	7.66	9.23	9.05
EV/Sales High	9.49	9.6	10.91	12.19	15.19	13.77	13.23	12.25	11.54	14.08	12.04	10.64	8.92	10.82	9.8
EV/Sales Low	7.98	8.79	9.97	10.27	12.8	11.5	11.56	10.59	10.36	8.94	10.12	7.74	6.82	8.24	8.14
EV/EBITDA Average	16.71	18.68	19.16	20.04	23.3	21.62	22.15	23.02	24.79	29.13	26.17	20.05	18.29	22.51	21.74
EV/EBITDA High	17.96	19.4	19.88	21.83	25.17	23.19	24.03	24.44	25.93	38.25	28.23	23.53	21.31	26.37	23.55
EV/EBITDA Low	15.09	17.75	18.18	18.38	21.21	19.37	21	21.13	23.27	24.3	23.74	17.11	16.3	20.08	19.55
EV/EBIT Average	28.17	32.51	34.56	36.54	44.18	43.26	41.17	40.82	50.85	113.51	72.38	56.7	46.13	62.56	60.2
EV/EBIT High	30.27	33.76	35.86	39.81	47.72	46.41	44.66	43.32	53.18	149.03	78.07	66.54	53.75	73.29	65.2
EV/EBIT Low	25.44	30.9	32.79	33.53	40.22	38.76	39.01	37.45	47.72	94.67	65.65	48.4	41.11	55.81	54.15
Last Price	56.26	58.61	64.99	86.16	80.78	84.35	78.18	62.03	66.5	37.34	41.86	20.81	28.25	42.04	33.28
High Price	72.3	64.78	67.27	88	93.53	87.84	90.29	78.31	70.54	68.68	50.91	47.26	32.21	46.63	45.37
Enterprise Value Average	23,877	24,500	24,175	25,884	27,916	25,717	25,415	24,972	21,239	16,381	17,733	16,322	13,866	16,508	16,382
Enterprise Value High	25,658	25,441	25,081	28,197	30,157	27,593	27,571	26,502	22,213	21,507	19,128	19,154	16,157	19,340	17,745
Enterprise Value Low	21,559	23,284	22,931	23,748	25,418	23,041	24,086	22,915	19,934	13,662	16,084	13,932	12,356	14,727	14,736

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	185	187	187	188	189	189	190	191	191	191	192	192	190	191	191
Diluted Weighted Avg Shares	186	187	188	189	190	189	191	191	191	191	192	192	192	197	201
Basic Weighted Avg Shares	184	186	187	188	188	189	190	191	191	191	192	192	191	191	192
Revenue per Share	14.66	14.26	12.3	12.33	10.54	10.6	11	11.36	10.08	7.99	8.3	9.39	9.48	9.38	9.44
EBITDA per Share	7.75	7.06	6.75	6.89	6.36	6.29	6.05	5.69	4.49	2.94	3.54	4.25	3.97	3.85	3.93
Operating Income per Share	4.6	4.06	3.74	3.78	3.36	3.14	3.26	3.21	2.19	0.75	1.28	1.5	1.57	1.38	1.42
Basic EPS, GAAP	3.24	2.91	2.1	4.18	3.61	4.39	0.85	2.1	16.23	-1.82	0.57	-2.13	0.23	0.04	4.4
Basic EPS from Cont Ops	3.12	2.55	-0.02	2.26	3.38	3.05	1.46	2.21	17.47	-2.42	1.08	-2	0.17	0.11	4.89
Diluted EPS, GAAP	3.21	2.9	2.09	4.15	3.59	4.39	0.85	2.09	16.21	-1.82	0.57	-2.13	0.23	0.04	4.19
Diluted EPS from Cont Ops	3.09	2.54	-0.02	2.24	3.35	3.05	1.45	2.2	17.45	-2.42	1.08	-2	0.17	0.1	4.66
Dividend per Share	3.09	4.16	3.37	3.35	2.95	2.94	2.96	2.81	2.9	4.66	2.46	2.44	1	1.07	1.06
Cash Flow per Share	3.81	4.44	5.57	6.05	3.57	5.26	4.54	4.21	3.47	2.22	3.98	4.17	3.39	2.82	6.56
Free Cash Flow per Basic Share	1.91	4.44	5.57	6.05	1.04	5.26	2.66	4.21	3.47	2.22	3.98	4.17	3.39	2.82	6.56
Cash & Equivalents per Share	7.31	5.17	3.12	6.39	10.55	7.94	9.59	3	7.94	8.5	9.19	7.1	5.22	3.85	4.38
Book Value per Share	-7.57	-8.43	-9.24	-7.99	-9.34	-7.47	-22.03	-21.83	-10.2	-14.47	-16.04	-20.27	-20.95	-21.7	-18.17
Tangible Book Value per Share	39.93	38.71	37.52	39.05	38.23	40.56	26.07	25.53	38.13	33.21	30.63	27.07	26.36	25.57	28.74

Vornado Realty Trust

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)