Vornado reported net income attributable to common shares of $842.9 million, or $4.20 per diluted share, for the year ended Dec. 31, 2025, up sharply from $8.3 million, or $0.04 per diluted share, a year earlier.
Funds from operations, as adjusted, rose to $465.6 million, or $2.32 per diluted share, from $447.1 million, or $2.26 per diluted share. Funds from operations, as reported, increased to $486.8 million, or $2.42 per diluted share, from $470.0 million, or $2.37 per diluted share.
Net operating income for 2025 totaled $1.112 billion, compared with $1.100 billion in 2024. On a same-store basis, NOI increased 5.4% year over year.
By business unit, New York office generated $713.7 million of NOI in 2025, up from $706.6 million. New York retail produced $175.7 million, down from $191.4 million. New York residential contributed $25.4 million, up from $24.0 million. Alexander’s posted $34.6 million, down from $39.9 million.
Total New York NOI came to $949.4 million, compared with $961.9 million a year earlier.
Outside New York, The Mart delivered $69.2 million of NOI, up from $51.7 million, while 555 California Street generated $68.4 million, up from $65.0 million. Other assets contributed $24.9 million, compared with $21.2 million. The market has reacted to these announcements by moving the company's shares -1.19% to a price of $25.67. If you want to know more, read the company's complete 8-K report here.
