Realty Income Corporation (O) 10-Year Financial Performance & Capital Metrics

O • • REIT / Real Estate

Real EstateRetail REITsNet Lease Retail REITs

AboutRealty Income, The Monthly Dividend Company, is an S&P 500 company dedicated to providing stockholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 6,500 real estate properties owned under long-term lease agreements with our commercial clients. To date, the company has declared 608 consecutive common stock monthly dividends throughout its 52-year operating history and increased the dividend 109 times since Realty Income's public listing in 1994 (NYSE: O). The company is a member of the S&P 500 Dividend Aristocrats index. Additional information about the company can be obtained from the corporate website at www.realtyincome.com.Show more

Revenue $5.75B +9.1%
FFO $3.53B +8.4%
FFO/Share 3.90 +5.1%
FFO Payout 0% -100.0%
FFO per Share 3.90 +5.1%
NOI Margin 89.8% -3.3%
FFO Margin 61.41% -0.6%
ROE 2.67% +12.1%
ROA 1.49% +9.9%
Debt/Assets -
Net Debt/EBITDA -0.11 -101.9%
Book Value/Share 44.35 -0.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Dividend Aristocrat: 27 years of consecutive increases
✓Strong 5Y profit CAGR of 21.8%
✓FFO growing 8.4% TTM
✓High NOI margin of 89.8%
✓Trading near 52-week high

✗Weaknesses

✗Weak 3Y average ROE of 2.6%

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y18.84%

5Y28.4%

3Y19.8%

TTM9.07%

Profit (Net Income) CAGR

10Y14.07%

5Y21.76%

3Y6.78%

TTM22.98%

EPS CAGR

10Y0.71%

5Y0.52%

3Y-6.25%

TTM19.39%

ROCE

10Y Avg3.81%

5Y Avg3.12%

3Y Avg3.16%

Latest2.3%

Peer Comparison

Net Lease Retail REITs

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NTSTNETSTREIT Corp.	1.73B	20.77	259.63	30%	0.1%	0.01%	6.32%
ORealty Income Corporation	62.58B	67.00	57.27	9.07%	18.41%	2.64%	6.38%
ADCAgree Realty Corporation	236.49M	80.48	45.47	16.42%	27.57%	3.23%	100%	0.47
GTYGetty Realty Corp.	1.9B	32.82	23.44	9.02%	34.75%	7.35%	6.7%	0.95
FCPTFour Corners Property Trust, Inc.	2.76B	25.52	23.41	9.72%	38.2%	6.89%	6.96%	0.74
NNNNNN REIT, Inc.	8.61B	45.32	21.89	6.55%	42.08%	8.84%	7.75%
PINEAlpine Income Property Trust, Inc.	291.53M	19.72	-89.64	15.9%	-5.3%	-0.99%	8.83%

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue+	1.1B	1.22B	1.33B	1.49B	1.65B	2.08B	3.34B	4.08B	5.27B	5.75B
Revenue Growth %	7.81%	10.21%	9.22%	12.07%	10.68%	26.31%	60.72%	21.99%	29.23%	9.07%
Property Operating Expenses	62.87M	69.48M	66.33M	88.58M	104.6M	133.6M	226.33M	316.96M	377.68M	586.44M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	501.91M	557.23M	623.93M	660.44M	750.25M	994.82M	1.81B	2.04B	2.57B	3.54B
G&A Expenses	51.97M	58.45M	84.15M	66.48M	73.22M	96.98M	138.46M	144.54M	176.9M	252.97M
EBITDA+	988.34M	1.09B	1.18B	1.33B	1.47B	1.85B	2.98B	3.62B	4.72B	4.1B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	449.94M	498.79M	539.78M	593.96M	677.04M	897.84M	1.67B	1.9B	2.4B	2.47B
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	538.4M	589.05M	637.58M	739.13M	792.23M	952.04M	1.31B	1.72B	2.32B	1.63B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	0	0	0	0	0	0	0	0	0	0
Interest Coverage	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	7.22M	0	10.38M	18.14M	87.32M	0	0	14.34M	388.88M	548.48M
Pretax Income+	319.74M	325.36M	369.94M	443.64M	411.2M	392.4M	917.6M	928.93M	933.94M	1.08B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	3.26M	6.04M	5.34M	6.16M	14.69M	31.66M	45.18M	52.02M	66.6M	20M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	315.57M	318.8M	363.61M	436.48M	395.49M	359.46M	869.41M	872.31M	860.77M	1.06B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	11.21%	1.02%	14.06%	20.04%	-9.39%	-9.11%	141.87%	0.33%	-1.32%	22.98%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	10.47%	6.8%	10.5%	14.06%	4.08%	17.23%	102.01%	8.96%	17.67%	8.43%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	1.13	1.10	1.26	1.38	1.14	0.87	1.42	1.26	0.98	1.17
EPS Growth %	3.67%	-2.65%	14.55%	9.52%	-17.39%	-23.68%	63.22%	-11.27%	-22.22%	19.39%
EPS (Basic)	1.13	1.10	1.26	1.38	1.15	0.87	1.42	1.26	0.98	1.17
Diluted Shares Outstanding	255.62M	273.94M	289.92M	316.16M	345.42M	414.77M	612.18M	693.02M	876.81M	904.79M

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets+	13.15B	14.06B	15.26B	18.55B	20.74B	43.14B	49.67B	57.78B	68.84B	72.8B
Asset Growth %	10.85%	6.88%	8.55%	21.59%	11.78%	107.99%	15.15%	16.32%	19.13%	5.75%
Real Estate & Other Assets+	11.89B	12.68B	13.86B	16.43B	17.49B	32.03B	37.92B	43.65B	51.05B	0
PP&E (Net)	11.88B	12.68B	13.83B	16.56B	230.63M	849.85M	1.07B	1.3B	1.27B	0
Investment Securities	0	0	0	0	0	1000K	1000K	1000K	1000K	0
Total Current Assets+	164.62M	163.32M	184.89M	455.5M	1.29B	1.16B	1.77B	2.9B	4.02B	1.49B
Cash & Equivalents	9.42M	6.9M	10.39M	54.01M	824.48M	258.58M	171.1M	232.92M	444.96M	434.84M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	30.82M	14.85M	17.91M	116.11M	41.22M	127.57M	43.29M	6.45M	131.53M	0
Intangible Assets	1.08B	1.19B	1.2B	1.49B	1.71B	5.28B	5.17B	5.02B	6.32B	91.78M
Total Liabilities	6.37B	6.67B	7.14B	8.75B	9.72B	18.01B	20.83B	24.67B	29.78B	32.67B
Total Debt+	5.84B	6.12B	6.51B	8.03B	8.94B	15.95B	18.6B	21.99B	26.76B	0
Net Debt	5.84B	6.11B	6.5B	7.98B	8.11B	15.69B	18.43B	21.76B	26.31B	-434.84M
Long-Term Debt	4.72B	6B	6.25B	7.2B	8.82B	13.89B	15.38B	20.76B	25.1B	0
Short-Term Borrowings	1.12B	110M	252M	704.34M	0	1.55B	2.73B	764.39M	1.13B	0
Capital Lease Obligations	5.02M	5.33M	0	128.23M	120.81M	505.74M	489.56M	469.56M	530.15M	0
Total Current Liabilities+	1.37B	385.61M	561.93M	1.06B	383.9M	2.22B	3.5B	1.89B	2.4B	0
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Deferred Revenue	74.1M	105.28M	115.38M	127.69M	130.23M	242.12M	269.64M	312.19M	352.33M	0
Other Liabilities	196.61M	169.77M	208.58M	238.08M	400.37M	1.39B	1.46B	1.56B	1.76B	32.67B
Total Equity+	6.79B	7.39B	8.12B	9.8B	11.02B	25.13B	28.84B	33.11B	39.05B	40.12B
Equity Growth %	3.57%	8.89%	9.88%	20.73%	12.38%	128.08%	14.78%	14.78%	17.96%	2.75%
Shareholders Equity	6.77B	7.37B	8.09B	9.77B	10.99B	25.05B	28.71B	32.94B	38.84B	39.44B
Minority Interest	20.25M	19.21M	32.24M	29.7M	32.25M	76.83M	130.14M	165.5M	210.95M	685.27M
Common Stock	8.23B	9.62B	10.75B	12.87B	14.7B	29.58B	34.16B	39.63B	47.45B	49.86B
Additional Paid-in Capital	-1.86B	-2.25B	-2.66B	-3.08B	0	0	0	0	0	0
Retained Earnings	-1.86B	-2.25B	-2.66B	-3.08B	-3.66B	-4.53B	-5.49B	-6.76B	-8.65B	0
Preferred Stock	395.38M	0	0	0	0	0	0	0	0	0
Return on Assets (ROA)	2.52%	2.34%	2.48%	2.58%	2.01%	1.13%	1.87%	1.62%	1.36%	1.49%
Return on Equity (ROE)	4.73%	4.5%	4.69%	4.87%	3.8%	1.99%	3.22%	2.82%	2.39%	2.67%
Debt / Assets	44.44%	43.51%	42.63%	43.28%	43.1%	36.97%	37.45%	38.06%	38.87%	-
Debt / Equity	0.86x	0.83x	0.80x	0.82x	0.81x	0.63x	0.64x	0.66x	0.69x	-
Net Debt / EBITDA	5.90x	5.62x	5.52x	5.98x	5.52x	8.48x	6.19x	6.01x	5.58x	-0.11x
Book Value per Share	26.55	26.98	28.01	31.01	31.90	60.59	47.12	47.77	44.54	44.35

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	804.04M	875.85M	940.74M	1.07B	1.12B	1.32B	2.56B	2.96B	3.57B	3.99B
Operating CF Growth %	16.14%	8.93%	7.41%	13.63%	4.36%	18.52%	93.91%	15.4%	20.77%	11.8%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	316.48M	319.32M	364.6M	437.48M	396.51M	360.75M	872.42M	872.31M	867.34M	1.07B
Depreciation & Amortization	449.94M	498.79M	539.78M	593.96M	677.04M	897.84M	1.67B	1.9B	2.4B	2.52B
Stock-Based Compensation	12.01M	13.95M	27.27M	13.66M	16.5M	41.77M	21.62M	26.23M	57.49M	0
Other Non-Cash Items	-4.66M	4.76M	-1.59M	-1.95M	4.43M	-24.89M	34.25M	-13.56M	218.56M	400.77M
Working Capital Changes	33.24M	26M	11.79M	15.1M	-59.52M	-35.07M	-34.81M	174.01M	30.69M	0
Cash from Investing+	-1.7B	-1.25B	-1.64B	-3.5B	-2.03B	-6.44B	-8.39B	-9.35B	-3.34B	-5.66B
Acquisitions (Net)	0	0	-200K	3.5B	2.03B	38.34M	0	-1.18B	23.3M	0
Purchase of Investments	-1.81B	-1.42B	-1.77B	-3.59B	-2.28B	-6.34B	-8.89B	0	0	0
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	0	0
Other Investing	13.43M	-836K	7.85M	-3.5B	-2.03B	-404.38M	-46.44M	-8.18B	-3.37B	-5.66B
Cash from Financing+	866.19M	375.12M	707.87M	2.49B	1.69B	4.58B	5.74B	6.44B	-21.16M	1.68B
Dividends Paid	-637.6M	-695.46M	-761.58M	-852.13M	-964.17M	-1.17B	-1.81B	-2.11B	-2.7B	0
Common Dividends	-610.52M	-689.29M	-761.58M	-852.13M	-964.17M	-1.17B	-1.81B	-2.11B	-2.69B	0
Debt Issuance (Net)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Share Repurchases	-9.03M	-408.75M	-2.75M	-21.12M	0	0	0	0	0	0
Other Financing	152M	-75.55M	1.08B	1.26B	1.05B	462.74M	48.54M	-77.27M	-67.8M	1.68B
Net Change in Cash+	-30.87M	-3.54M	8.93M	49.93M	779.67M	-518.31M	-105.49M	65.29M	203.33M	25.25M
Exchange Rate Effect	0	0	0	-1000K	1000K	1000K	-1000K	1000K	-1000K	1000K
Cash at Beginning	40.29M	15.68M	12.14M	21.07M	71M	850.68M	332.37M	226.88M	292.18M	495.51M
Cash at End	9.42M	12.14M	21.07M	71M	850.68M	332.37M	226.88M	292.18M	495.51M	520.76M
Free Cash Flow+	790.62M	860.6M	915.39M	1.05B	1.11B	1.3B	2.56B	2.96B	3.57B	3.99B
FCF Growth %	16.14%	8.85%	6.37%	14.2%	5.88%	17.73%	96.75%	15.4%	20.77%	11.8%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
FFO per Share	2.99	2.98	3.12	3.26	3.11	3.03	4.15	3.99	3.71	3.9
FFO Payout Ratio	79.75%	84.31%	84.3%	82.7%	89.9%	92.98%	71.4%	76.31%	82.66%	0%
NOI Margin	94.3%	94.29%	95%	94.05%	93.65%	93.58%	93.23%	92.23%	92.84%	89.8%
Net Debt / EBITDA	5.90x	5.62x	5.52x	5.98x	5.52x	8.48x	6.19x	6.01x	5.58x	-0.11x
Debt / Assets	44.44%	43.51%	42.63%	43.28%	43.1%	36.97%	37.45%	38.06%	38.87%	-
Book Value / Share	26.55	26.98	28.01	31.01	31.9	60.59	47.12	47.77	44.54	44.35
Revenue Growth	7.81%	10.21%	9.22%	12.07%	10.68%	26.31%	60.72%	21.99%	29.23%	9.07%

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Realty Income Corporation (O) 10-Year Financial Performance & Capital Metrics

O • • REIT / Real Estate

Real EstateRetail REITsNet Lease Retail REITs

Revenue $5.75B +9.1%
FFO $3.53B +8.4%
FFO/Share 3.90 +5.1%
FFO Payout 0% -100.0%
FFO per Share 3.90 +5.1%
NOI Margin 89.8% -3.3%
FFO Margin 61.41% -0.6%
ROE 2.67% +12.1%
ROA 1.49% +9.9%
Debt/Assets -
Net Debt/EBITDA -0.11 -101.9%
Book Value/Share 44.35 -0.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Dividend Aristocrat: 27 years of consecutive increases
✓Strong 5Y profit CAGR of 21.8%
✓FFO growing 8.4% TTM
✓High NOI margin of 89.8%
✓Trading near 52-week high

✗Weaknesses

✗Weak 3Y average ROE of 2.6%

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y18.84%

5Y28.4%

3Y19.8%

TTM9.07%

Profit (Net Income) CAGR

10Y14.07%

5Y21.76%

3Y6.78%

TTM22.98%

EPS CAGR

10Y0.71%

5Y0.52%

3Y-6.25%

TTM19.39%

ROCE

10Y Avg3.81%

5Y Avg3.12%

3Y Avg3.16%

Latest2.3%

Peer Comparison

Net Lease Retail REITs

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NTSTNETSTREIT Corp.	1.73B	20.77	259.63	30%	0.1%	0.01%	6.32%
ORealty Income Corporation	62.58B	67.00	57.27	9.07%	18.41%	2.64%	6.38%
ADCAgree Realty Corporation	236.49M	80.48	45.47	16.42%	27.57%	3.23%	100%	0.47
GTYGetty Realty Corp.	1.9B	32.82	23.44	9.02%	34.75%	7.35%	6.7%	0.95
FCPTFour Corners Property Trust, Inc.	2.76B	25.52	23.41	9.72%	38.2%	6.89%	6.96%	0.74
NNNNNN REIT, Inc.	8.61B	45.32	21.89	6.55%	42.08%	8.84%	7.75%
PINEAlpine Income Property Trust, Inc.	291.53M	19.72	-89.64	15.9%	-5.3%	-0.99%	8.83%

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue+	1.1B	1.22B	1.33B	1.49B	1.65B	2.08B	3.34B	4.08B	5.27B	5.75B
Revenue Growth %	7.81%	10.21%	9.22%	12.07%	10.68%	26.31%	60.72%	21.99%	29.23%	9.07%
Property Operating Expenses	62.87M	69.48M	66.33M	88.58M	104.6M	133.6M	226.33M	316.96M	377.68M	586.44M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	501.91M	557.23M	623.93M	660.44M	750.25M	994.82M	1.81B	2.04B	2.57B	3.54B
G&A Expenses	51.97M	58.45M	84.15M	66.48M	73.22M	96.98M	138.46M	144.54M	176.9M	252.97M
EBITDA+	988.34M	1.09B	1.18B	1.33B	1.47B	1.85B	2.98B	3.62B	4.72B	4.1B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	449.94M	498.79M	539.78M	593.96M	677.04M	897.84M	1.67B	1.9B	2.4B	2.47B
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	538.4M	589.05M	637.58M	739.13M	792.23M	952.04M	1.31B	1.72B	2.32B	1.63B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	0	0	0	0	0	0	0	0	0	0
Interest Coverage	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	7.22M	0	10.38M	18.14M	87.32M	0	0	14.34M	388.88M	548.48M
Pretax Income+	319.74M	325.36M	369.94M	443.64M	411.2M	392.4M	917.6M	928.93M	933.94M	1.08B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	3.26M	6.04M	5.34M	6.16M	14.69M	31.66M	45.18M	52.02M	66.6M	20M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	315.57M	318.8M	363.61M	436.48M	395.49M	359.46M	869.41M	872.31M	860.77M	1.06B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	11.21%	1.02%	14.06%	20.04%	-9.39%	-9.11%	141.87%	0.33%	-1.32%	22.98%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	10.47%	6.8%	10.5%	14.06%	4.08%	17.23%	102.01%	8.96%	17.67%	8.43%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	1.13	1.10	1.26	1.38	1.14	0.87	1.42	1.26	0.98	1.17
EPS Growth %	3.67%	-2.65%	14.55%	9.52%	-17.39%	-23.68%	63.22%	-11.27%	-22.22%	19.39%
EPS (Basic)	1.13	1.10	1.26	1.38	1.15	0.87	1.42	1.26	0.98	1.17
Diluted Shares Outstanding	255.62M	273.94M	289.92M	316.16M	345.42M	414.77M	612.18M	693.02M	876.81M	904.79M

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets+	13.15B	14.06B	15.26B	18.55B	20.74B	43.14B	49.67B	57.78B	68.84B	72.8B
Asset Growth %	10.85%	6.88%	8.55%	21.59%	11.78%	107.99%	15.15%	16.32%	19.13%	5.75%
Real Estate & Other Assets+	11.89B	12.68B	13.86B	16.43B	17.49B	32.03B	37.92B	43.65B	51.05B	0
PP&E (Net)	11.88B	12.68B	13.83B	16.56B	230.63M	849.85M	1.07B	1.3B	1.27B	0
Investment Securities	0	0	0	0	0	1000K	1000K	1000K	1000K	0
Total Current Assets+	164.62M	163.32M	184.89M	455.5M	1.29B	1.16B	1.77B	2.9B	4.02B	1.49B
Cash & Equivalents	9.42M	6.9M	10.39M	54.01M	824.48M	258.58M	171.1M	232.92M	444.96M	434.84M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	30.82M	14.85M	17.91M	116.11M	41.22M	127.57M	43.29M	6.45M	131.53M	0
Intangible Assets	1.08B	1.19B	1.2B	1.49B	1.71B	5.28B	5.17B	5.02B	6.32B	91.78M
Total Liabilities	6.37B	6.67B	7.14B	8.75B	9.72B	18.01B	20.83B	24.67B	29.78B	32.67B
Total Debt+	5.84B	6.12B	6.51B	8.03B	8.94B	15.95B	18.6B	21.99B	26.76B	0
Net Debt	5.84B	6.11B	6.5B	7.98B	8.11B	15.69B	18.43B	21.76B	26.31B	-434.84M
Long-Term Debt	4.72B	6B	6.25B	7.2B	8.82B	13.89B	15.38B	20.76B	25.1B	0
Short-Term Borrowings	1.12B	110M	252M	704.34M	0	1.55B	2.73B	764.39M	1.13B	0
Capital Lease Obligations	5.02M	5.33M	0	128.23M	120.81M	505.74M	489.56M	469.56M	530.15M	0
Total Current Liabilities+	1.37B	385.61M	561.93M	1.06B	383.9M	2.22B	3.5B	1.89B	2.4B	0
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Deferred Revenue	74.1M	105.28M	115.38M	127.69M	130.23M	242.12M	269.64M	312.19M	352.33M	0
Other Liabilities	196.61M	169.77M	208.58M	238.08M	400.37M	1.39B	1.46B	1.56B	1.76B	32.67B
Total Equity+	6.79B	7.39B	8.12B	9.8B	11.02B	25.13B	28.84B	33.11B	39.05B	40.12B
Equity Growth %	3.57%	8.89%	9.88%	20.73%	12.38%	128.08%	14.78%	14.78%	17.96%	2.75%
Shareholders Equity	6.77B	7.37B	8.09B	9.77B	10.99B	25.05B	28.71B	32.94B	38.84B	39.44B
Minority Interest	20.25M	19.21M	32.24M	29.7M	32.25M	76.83M	130.14M	165.5M	210.95M	685.27M
Common Stock	8.23B	9.62B	10.75B	12.87B	14.7B	29.58B	34.16B	39.63B	47.45B	49.86B
Additional Paid-in Capital	-1.86B	-2.25B	-2.66B	-3.08B	0	0	0	0	0	0
Retained Earnings	-1.86B	-2.25B	-2.66B	-3.08B	-3.66B	-4.53B	-5.49B	-6.76B	-8.65B	0
Preferred Stock	395.38M	0	0	0	0	0	0	0	0	0
Return on Assets (ROA)	2.52%	2.34%	2.48%	2.58%	2.01%	1.13%	1.87%	1.62%	1.36%	1.49%
Return on Equity (ROE)	4.73%	4.5%	4.69%	4.87%	3.8%	1.99%	3.22%	2.82%	2.39%	2.67%
Debt / Assets	44.44%	43.51%	42.63%	43.28%	43.1%	36.97%	37.45%	38.06%	38.87%	-
Debt / Equity	0.86x	0.83x	0.80x	0.82x	0.81x	0.63x	0.64x	0.66x	0.69x	-
Net Debt / EBITDA	5.90x	5.62x	5.52x	5.98x	5.52x	8.48x	6.19x	6.01x	5.58x	-0.11x
Book Value per Share	26.55	26.98	28.01	31.01	31.90	60.59	47.12	47.77	44.54	44.35

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	804.04M	875.85M	940.74M	1.07B	1.12B	1.32B	2.56B	2.96B	3.57B	3.99B
Operating CF Growth %	16.14%	8.93%	7.41%	13.63%	4.36%	18.52%	93.91%	15.4%	20.77%	11.8%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	316.48M	319.32M	364.6M	437.48M	396.51M	360.75M	872.42M	872.31M	867.34M	1.07B
Depreciation & Amortization	449.94M	498.79M	539.78M	593.96M	677.04M	897.84M	1.67B	1.9B	2.4B	2.52B
Stock-Based Compensation	12.01M	13.95M	27.27M	13.66M	16.5M	41.77M	21.62M	26.23M	57.49M	0
Other Non-Cash Items	-4.66M	4.76M	-1.59M	-1.95M	4.43M	-24.89M	34.25M	-13.56M	218.56M	400.77M
Working Capital Changes	33.24M	26M	11.79M	15.1M	-59.52M	-35.07M	-34.81M	174.01M	30.69M	0
Cash from Investing+	-1.7B	-1.25B	-1.64B	-3.5B	-2.03B	-6.44B	-8.39B	-9.35B	-3.34B	-5.66B
Acquisitions (Net)	0	0	-200K	3.5B	2.03B	38.34M	0	-1.18B	23.3M	0
Purchase of Investments	-1.81B	-1.42B	-1.77B	-3.59B	-2.28B	-6.34B	-8.89B	0	0	0
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	0	0
Other Investing	13.43M	-836K	7.85M	-3.5B	-2.03B	-404.38M	-46.44M	-8.18B	-3.37B	-5.66B
Cash from Financing+	866.19M	375.12M	707.87M	2.49B	1.69B	4.58B	5.74B	6.44B	-21.16M	1.68B
Dividends Paid	-637.6M	-695.46M	-761.58M	-852.13M	-964.17M	-1.17B	-1.81B	-2.11B	-2.7B	0
Common Dividends	-610.52M	-689.29M	-761.58M	-852.13M	-964.17M	-1.17B	-1.81B	-2.11B	-2.69B	0
Debt Issuance (Net)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Share Repurchases	-9.03M	-408.75M	-2.75M	-21.12M	0	0	0	0	0	0
Other Financing	152M	-75.55M	1.08B	1.26B	1.05B	462.74M	48.54M	-77.27M	-67.8M	1.68B
Net Change in Cash+	-30.87M	-3.54M	8.93M	49.93M	779.67M	-518.31M	-105.49M	65.29M	203.33M	25.25M
Exchange Rate Effect	0	0	0	-1000K	1000K	1000K	-1000K	1000K	-1000K	1000K
Cash at Beginning	40.29M	15.68M	12.14M	21.07M	71M	850.68M	332.37M	226.88M	292.18M	495.51M
Cash at End	9.42M	12.14M	21.07M	71M	850.68M	332.37M	226.88M	292.18M	495.51M	520.76M
Free Cash Flow+	790.62M	860.6M	915.39M	1.05B	1.11B	1.3B	2.56B	2.96B	3.57B	3.99B
FCF Growth %	16.14%	8.85%	6.37%	14.2%	5.88%	17.73%	96.75%	15.4%	20.77%	11.8%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
FFO per Share	2.99	2.98	3.12	3.26	3.11	3.03	4.15	3.99	3.71	3.9
FFO Payout Ratio	79.75%	84.31%	84.3%	82.7%	89.9%	92.98%	71.4%	76.31%	82.66%	0%
NOI Margin	94.3%	94.29%	95%	94.05%	93.65%	93.58%	93.23%	92.23%	92.84%	89.8%
Net Debt / EBITDA	5.90x	5.62x	5.52x	5.98x	5.52x	8.48x	6.19x	6.01x	5.58x	-0.11x
Debt / Assets	44.44%	43.51%	42.63%	43.28%	43.1%	36.97%	37.45%	38.06%	38.87%	-
Book Value / Share	26.55	26.98	28.01	31.01	31.9	60.59	47.12	47.77	44.54	44.35
Revenue Growth	7.81%	10.21%	9.22%	12.07%	10.68%	26.31%	60.72%	21.99%	29.23%	9.07%

Realty Income Corporation (O) 10-Year Financial Performance & Capital Metrics

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✓Strengths

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Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

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Peer Comparison

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Profit & Loss

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Dividend History

Earnings History

Price History

Revenue History

Financial Ratios

Realty Income Corporation (O) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare O vs Peers

vs NNN

vs FCPT

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios