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Retained earnings is the accumulated portion of net income that is not distributed to shareholders. Vornado Realty Trust's retained earnings for the quarter that ended in Mar. 2026 was $-3,594 Mil.
Vornado Realty Trust's quarterly retained earnings
declined
from Sep. 2025 ($-3,300 Mil) to Dec. 2025 ($-3,492 Mil) and
declined
from Dec. 2025 ($-3,492 Mil) to Mar. 2026 ($-3,594 Mil).
Vornado Realty Trust's annual retained earnings
declined
from Dec. 2023 ($-4,009 Mil) to Dec. 2024 ($-4,142 Mil) but then
increased
from Dec. 2024 ($-4,142 Mil) to Dec. 2025 ($-3,492 Mil).
Historically profitable companies sometimes have negative retained earnings. This is because they have cumulatively paid out more to shareholders than they reported in profits.
For example, in 2011, Microsoft had negative retained earnings. This does not mean the company lost more money than it made over the years. It just means it paid out more money than it earned.
If a company has negative retained earnings, investors should check the 10-year financial results. They should not assume that negative retained earnings prove a company has generally lost money in the past.
Of course, many companies with negative retained earnings have indeed lost money in the past.
Retained Earnings: Warren Buffett's Secret.
One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.
If the company loses more than it has accumulated, retained earnings is negative.
If a company isn't adding to its retained earnings, it isn't growing its net worth.
Rate of growth of retained earnings is good indicator whether it's benefiting from a competitive advantage.
Microsoft is negative because it chose to buyback stock and pay dividends.
The more earnings retained, the faster it grows and increases growth rate for future earnings.
Vornado Realty Trust Retained Earnings Historical Data
* Premium members only.
The historical data trend for Vornado Realty Trust's Retained Earnings can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Retained Earnings is the accumulated portion of net income that is not distributed to shareholders. Because the net income was not distributed to shareholders, shareholders' equity is increased by the same amount.
Of course, if a company loses, it is called retained losses, or accumulated losses.
What does a Retained Earnings of $-3,594 Mil mean?
Vornado Realty Trust (LTS:0LR2) has a Retained Earnings of $-3,594 Mil as of Mar. 2026. Retained earnings is the amount of net income not issued to shareholders. View historical data on Vornado Realty Trust and its competitors.
Is Vornado Realty Trust's Retained Earnings too high?
Vornado Realty Trust's current Retained Earnings is $-3,594 Mil. Overall, Vornado Realty Trust has a GF Score™ of 75/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Vornado Realty Trust's Retained Earnings compare to ARE and CUZ?
Vornado Realty Trust's Retained Earnings of $-3,594 Mil can be compared against companies in the REITs industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Retained Earnings for a REITs company?
A good Retained Earnings depends on the REITs industry context. However, Retained Earnings should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Retained Earnings mean?
A high Retained Earnings can signal that a stock is expensive relative to its fundamentals. Retained earnings is the amount of net income not issued to shareholders. View historical data on Vornado Realty Trust and its competitors. Vornado Realty Trust's current Retained Earnings is $-3,594 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vornado Realty Trust stock overvalued right now?
Based on GuruFocus' analysis, Vornado Realty Trust (LTS:0LR2) is currently considered Modestly Overvalued. The stock's GF Value™ is $32.32, compared to a current price of $39.88 — trading 23.4% above its estimated fair value. The current Retained Earnings is $-3,594 Mil. Vornado Realty Trust's overall GF Score™ is 75/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Retained Earnings calculated?
Retained Earnings is calculated from a company's financial statements. For Vornado Realty Trust (LTS:0LR2), the current Retained Earnings is $-3,594 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Vornado Realty Trust (LTS:0LR2) Overvalued in 2026?
Based on GuruFocus' analysis, Vornado Realty Trust stock appears to be overvalued.
The current stock price of $39.88 is trading 23.4% above its estimated GF Value™ of $32.32.
GuruFocus considers Vornado Realty Trust to be Modestly Overvalued.
Key valuation signals for LTS:0LR2:
Retained Earnings: $-3,594 Mil
GF Value™: $32.32 vs. price of $39.88 (23.4% above fair value)
No single metric tells the full story. See the LTS:0LR2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Vornado Realty Trust is a fully integrated real estate investment trust with a portfolio of New York City office, retail, and multifamily assets, and the developer of the new Penn District. While concentrated in New York, the trust also owns assets in both Chicago and San Francisco. It generates revenue in the form of property rentals, fees charged for trade shows, parking revenues, management and leasing fees, etc. Vornado operates in the following reportable segments: New York (its key revenue-generating market) and Other.
75GF Score
Get the complete analysis for LTS:0LR2
Retained Earnings is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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