Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Vornado Realty Trust's annualized net income for the quarter that ended in Mar. 2026 was $-29 Mil. Vornado Realty Trust's average shareholder tangible equity for the quarter that ended in Mar. 2026 was $5,893 Mil. Therefore, Vornado Realty Trust's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was -0.50%.
The historical rank and industry rank for Vornado Realty Trust's Return-on-Tangible-Equity or its related term are showing as below:
VNO'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -5.88 Med: 3.49 Max: 57.08
Current: 13.75
During the past 13 years, Vornado Realty Trust's highest Return-on-Tangible-Equity was 57.08%. The lowest was -5.88%. And the median was 3.49%.
VNO's Return-on-Tangible-Equity is ranked better than 84.6% of 935
companies
in the REITs industry
Industry Median: 6.23
vs VNO: 13.75
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Vornado Realty Trust Return-on-Tangible-Equity Related Terms
Vornado Realty Trust Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Vornado Realty Trust's Return-on-Tangible-Equity 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.
VNO vs ARE, CUZ, KRC: Return-on-Tangible-Equity Comparison
For the REIT - Office subindustry, Vornado Realty Trust's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Vornado Realty Trust Return-on-Tangible-Equity vs REITs Industry
For the REITs industry and Real Estate sector, Vornado Realty Trust's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Vornado Realty Trust's Return-on-Tangible-Equity falls into.
* 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of -0.50% mean?
Vornado Realty Trust (VNO) has a Return-on-Tangible-Equity of -0.50% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Vornado Realty Trust and its competitors. According to the industry distribution chart, Vornado Realty Trust ranks #144 out of 935 companies in the REITs industry, placing it in the top 15.4%.
Is Vornado Realty Trust's Return-on-Tangible-Equity too high?
Vornado Realty Trust's current Return-on-Tangible-Equity is -0.50%. Based on the distribution chart, Vornado Realty Trust ranks #144 out of 935 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, Vornado Realty Trust has a GF Score™ of 76/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Vornado Realty Trust's Return-on-Tangible-Equity compare to ARE and CUZ?
According to the REITs industry distribution chart, Vornado Realty Trust ranks #144 out of 935 companies for Return-on-Tangible-Equity. This places Vornado Realty Trust in the top 15% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 6.23. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Equity for a REITs company?
The median Return-on-Tangible-Equity among REITs companies is 6.23, based on 935 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity 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 Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Vornado Realty Trust and its competitors. For the REITs industry, the median Return-on-Tangible-Equity is 6.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Vornado Realty Trust's current Return-on-Tangible-Equity is -0.50%. 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 (VNO) is currently considered Modestly Overvalued. The stock's GF Value™ is $32.17, compared to a current price of $40.58 — trading 26.1% above its estimated fair value. The current Return-on-Tangible-Equity is -0.50%. Vornado Realty Trust's overall GF Score™ is 76/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Vornado Realty Trust (VNO), the current Return-on-Tangible-Equity is -0.50% 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 (VNO) Overvalued in 2026?
Based on GuruFocus' analysis, Vornado Realty Trust stock appears to be overvalued.
The current stock price of $40.58 is trading 26.1% above its estimated GF Value™ of $32.17.
GuruFocus considers Vornado Realty Trust to be Modestly Overvalued.
Key valuation signals for VNO:
Return-on-Tangible-Equity: -0.50%
GF Value™: $32.17 vs. price of $40.58 (26.1% above fair value)
No single metric tells the full story. See the VNO 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.
76GF Score
Get the complete analysis for VNO
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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