Vornado Realty Trust (VNO) — Capital Reinvestment Ratio
Vornado Realty Trust (VNO) has a Capital Reinvestment Ratio of 17.31x as of September 2025, meaning it reinvests 17% of its operating cash flow ($33.17 Million) in capital expenditures ($574.12 Million). Check tangible equity quality of Vornado Realty Trust to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Vornado Realty Trust Capital Reinvestment Ratio (1990–2024)
This chart tracks Vornado Realty Trust's Capital Reinvestment Ratio across 35 annual periods. For the full cash flow conversion analysis, see VNO cash flow conversion.
Annual Capital Reinvestment Ratio for Vornado Realty Trust (1990–2024)
Year-by-year Capital Reinvestment Ratio for Vornado Realty Trust from 1990 to 2024. See VNO free cash flow generation to measure how efficiently the company converts operating cash flow to free cash.
| Year | Reinvestment Ratio | Operating CF (USD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2024 | 0.87x | $537.72 Million | $465.61 Million | ▲ +1593.3% |
| 2023 | 0.05x | $648.15 Million | $33.15 Million | ▼ -95.5% |
| 2022 | 1.13x | $798.94 Million | $900.79 Million | ▲ +16.3% |
| 2021 | 0.97x | $761.81 Million | $738.40 Million | ▲ +4.1% |
| 2020 | 0.93x | $424.24 Million | $395.05 Million | ▲ +40.6% |
| 2019 | 0.66x | $662.54 Million | $438.94 Million | ▲ +612.7% |
| 2018 | 0.09x | $802.64 Million | $74.61 Million | ▼ -77.5% |
| 2017 | 0.41x | $860.14 Million | $355.85 Million | ▼ -44.8% |
| 2016 | 0.75x | $1.00 Billion | $750.07 Million | ▲ +5.9% |
| 2015 | 0.71x | $672.15 Million | $475.82 Million | ▲ +24.4% |
| 2014 | 0.57x | $1.14 Billion | $645.97 Million | ▲ +50.0% |
| 2013 | 0.38x | $1.04 Billion | $394.83 Million | ▼ -29.8% |
| 2012 | 0.54x | $825.05 Million | $446.02 Million | ▲ +8.6% |
| 2011 | 0.50x | $702.50 Million | $349.60 Million | ▼ -19.2% |
| 2010 | 0.62x | $771.09 Million | $474.98 Million | ▼ -42.8% |
| 2009 | 1.08x | $633.58 Million | $681.87 Million | ▲ +5.7% |
| 2008 | 1.02x | $817.81 Million | $832.89 Million | ▼ -76.6% |
| 2007 | 4.36x | $697.33 Million | $3.04 Billion | ▲ +108.9% |
| 2006 | 2.09x | $824.67 Million | $1.72 Billion | ▲ +66.1% |
| 2005 | 1.26x | $762.68 Million | $957.81 Million | ▲ +607.8% |
| 2004 | 0.18x | $664.69 Million | $117.94 Million | ▼ -22.2% |
| 2003 | 0.23x | $528.95 Million | $120.59 Million | ▲ +18.7% |
| 2002 | 0.19x | $499.82 Million | $96.02 Million | ▲ +11.0% |
| 2001 | 0.17x | $387.69 Million | $67.09 Million | ▼ -88.4% |
| 2000 | 1.49x | $249.92 Million | $371.64 Million | ▼ -33.5% |
| 1999 | 2.24x | $176.90 Million | $395.80 Million | ▼ -56.1% |
| 1998 | 5.09x | $189.40 Million | $964.90 Million | ▼ -38.1% |
| 1997 | 8.22x | $110.80 Million | $911.20 Million | ▲ +3828.5% |
| 1996 | 0.21x | $70.70 Million | $14.80 Million | ▼ -20.7% |
| 1995 | 0.26x | $62.90 Million | $16.60 Million | ▼ -51.3% |
| 1994 | 0.54x | $46.90 Million | $25.40 Million | ▼ -45.0% |
| 1993 | 0.99x | $27.40 Million | $27.00 Million | ▲ +39.9% |
| 1992 | 0.70x | $15.90 Million | $11.20 Million | ▲ +231.2% |
| 1991 | 0.21x | $36.20 Million | $7.70 Million | ▼ -99.0% |
| 1990 | 21.33x | $1.80 Million | $38.40 Million | — |