Vornado Realty Trust

VNO-PN ·Real Estate, REIT - Diversified, United States

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Profit Margins

Gross Margin Operating Margin Net Margin

Period	Gross Margin	Operating Margin	Net Margin
Jun 2008	—	35.0%	19.4%
Sep 2008	—	30.9%	5.5%
Mar 2009	—	28.3%	18.8%
Jun 2009	—	32.9%	-7.8%
Sep 2009	—	33.7%	19.1%
Dec 2009	—	21.4%	-21.4%
Mar 2010	—	33.7%	31.7%
Jun 2010	—	35.2%	10.7%
Sep 2010	—	32.8%	15.2%
Dec 2010	—	9.7%	34.6%
Mar 2011	—	28.9%	61.2%
Jun 2011	—	34.1%	16.0%
Sep 2011	—	31.4%	7.8%
Dec 2011	—	24.6%	10.1%
Mar 2012	—	27.0%	37.3%
Jun 2012	—	30.1%	5.7%
Sep 2012	—	28.4%	34.4%
Dec 2012	—	20.9%	9.1%
Mar 2013	—	35.5%	37.3%
Jun 2013	—	31.9%	24.0%
Sep 2013	—	35.8%	15.8%
Dec 2013	—	-3.2%	-10.6%
Mar 2014	—	25.8%	14.7%
Jun 2014	—	32.9%	16.9%
Sep 2014	—	31.5%	26.2%
Dec 2014	—	29.0%	86.0%
Mar 2015	—	27.6%	17.2%
Jun 2015	—	31.4%	30.2%
Sep 2015	—	30.5%	34.9%
Dec 2015	—	10.3%	35.4%
Mar 2016	—	-0.1%	-19.2%
Jun 2016	—	37.5%	48.3%
Sep 2016	—	29.5%	18.4%
Dec 2016	—	47.6%	126.7%
Mar 2017	—	25.9%	12.6%
Jun 2017	—	30.1%	25.8%
Sep 2017	—	30.7%	-2.4%
Dec 2017	—	30.0%	5.1%
Mar 2018	—	24.9%	1.8%
Jun 2018	—	28.9%	22.9%
Sep 2018	—	29.0%	37.5%
Dec 2018	—	25.0%	18.5%
Mar 2019	—	45.4%	36.3%
Jun 2019	—	566.5%	521.0%
Sep 2019	—	83.2%	72.0%
Dec 2019	—	39.8%	41.9%
Mar 2020	—	-20.6%	3.9%
Jun 2020	—	-62.8%	-54.0%
Sep 2020	—	25.4%	18.1%
Dec 2020	—	-55.9%	-51.8%
Mar 2021	—	7.6%	5.4%
Jun 2021	—	21.0%	17.0%
Sep 2021	—	11.3%	15.5%
Dec 2021	—	10.0%	6.5%
Mar 2022	—	13.7%	9.5%
Jun 2022	—	16.0%	14.5%
Sep 2022	—	5.2%	5.1%
Dec 2022	—	-115.9%	-106.9%
Mar 2023	—	3.6%	4.6%
Jun 2023	—	14.2%	13.1%
Sep 2023	—	15.8%	15.2%
Dec 2023	—	-20.9%	-10.3%
Mar 2024	—	0.1%	1.5%
Jun 2024	—	10.1%	11.3%
Sep 2024	—	-3.3%	-0.8%
Dec 2024	—	2.5%	3.7%
Mar 2025	—	23.2%	22.2%
Jun 2025	—	185.2%	172.0%
Sep 2025	—	3.0%	6.0%
Dec 2025	—	2.8%	3.6%
Mar 2026	—	-3.5%	-1.6%
Jun 2026	—	9.3%	6.9%