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6May 6, 2026·SEC
Apr 7, 2026·SEC
Mar 31, 2026·SEC
Realty Income Corporation (O) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Realty Income Corporation (O) stock price & volume — 10-year historical chart
Realty Income Corporation (O) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Realty Income Corporation (O) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Feb 24, 2026 | $0.32vs $0.38-16.6% | $1.4Bvs $1.4B+2.8% |
| Q4 2025 | Nov 3, 2025 | $0.34vs $0.40-14.7% | $1.5Bvs $1.4B+5.5% |
| Q3 2025 | Aug 4, 2025 | $0.22vs $0.40-45.3% | $1.4Bvs $1.3B+5.4% |
| Q2 2025 | May 5, 2025 | $0.28vs $0.36-22.2% | $1.4Bvs $1.3B+4.9% |
Realty Income Corporation (O) competitors in Net Lease Retail REITs — business model, growth, and fundamentals comparison
Realty Income Corporation (O) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Realty Income Corporation (O) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1.22B | 1.33B | 1.49B | 1.65B | 2.08B | 3.34B | 4.08B | 5.27B | 5.75B | 5.92B |
| Revenue Growth % | 10.21% | 9.22% | 12.07% | 10.68% | 26.31% | 60.72% | 21.99% | 29.23% | 9.07% | 9.77% |
| Property Operating Expenses | 69.48M | 66.33M | 88.58M | 104.6M | 133.6M | 226.33M | 316.96M | 377.68M | 586.44M | 479.76M |
| Net Operating Income (NOI) | 1.15B▲ 0% | 1.26B▲ 10.1% | 1.4B▲ 10.9% | 1.54B▲ 10.2% | 1.95B▲ 26.2% | 3.12B▲ 60.1% | 3.76B▲ 20.7% | 4.89B▲ 30.1% | 5.16B▲ 5.5% | 5.44B▲ 0% |
| NOI Margin % | 94.29% | 95% | 94.05% | 93.65% | 93.58% | 93.23% | 92.23% | 92.84% | 89.8% | 91.89% |
| Operating Expenses | 557.23M | 623.93M | 660.44M | 750.25M | 994.82M | 1.81B | 2.04B | 2.57B | 3.54B | 2.94B |
| G&A Expenses | 58.45M | 84.15M | 66.48M | 73.22M | 96.98M | 138.46M | 144.54M | 176.9M | 252.97M | 267.81M |
| EBITDA | 1.09B | 1.18B | 1.33B | 1.47B | 1.85B | 2.98B | 3.62B | 4.72B | 4.1B | 3.85B |
| EBITDA Margin % | 89.48% | 88.67% | 89.58% | 89.2% | 88.92% | 89.09% | 88.69% | 89.48% | 71.3% | 65.01% |
| Depreciation & Amortization | 498.79M | 539.78M | 593.96M | 677.04M | 897.84M | 1.67B | 1.9B | 2.4B | 2.47B | 2.49B |
| D&A / Revenue % | 41.03% | 40.65% | 39.91% | 41.11% | 43.16% | 49.96% | 46.46% | 45.45% | 43% | 42.14% |
| Operating Income | 589.05M▲ 0% | 637.58M▲ 8.2% | 739.13M▲ 15.9% | 792.23M▲ 7.2% | 952.04M▲ 20.2% | 1.31B▲ 37.4% | 1.72B▲ 31.6% | 2.32B▲ 34.8% | 1.63B▼ 29.9% | 1.01B▲ 0% |
| Operating Margin % | 48.45% | 48.02% | 49.67% | 48.1% | 45.76% | 39.13% | 42.22% | 44.03% | 28.3% | 17% |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Coverage | - | - | - | - | - | - | - | - | - | - |
| Non-Operating Income | 0 | 10.38M | 18.14M | 87.32M | 0 | 0 | 14.34M | 388.88M | 548.48M | -82.27M |
| Pretax Income | 325.36M▲ 0% | 369.94M▲ 13.7% | 443.64M▲ 19.9% | 411.2M▼ 7.3% | 392.4M▼ 4.6% | 917.6M▲ 133.8% | 928.93M▲ 1.2% | 933.94M▲ 0.5% | 1.08B▲ 15.5% | 1.16B▲ 0% |
| Pretax Margin % | 26.76% | 27.86% | 29.81% | 24.97% | 18.86% | 27.44% | 22.77% | 17.72% | 18.76% | 19.58% |
| Income Tax | 6.04M | 5.34M | 6.16M | 14.69M | 31.66M | 45.18M | 52.02M | 66.6M | 20M | 360.64M |
| Effective Tax Rate % | 1.86% | 1.44% | 1.39% | 3.57% | 8.07% | 4.92% | 5.6% | 7.13% | 1.85% | 31.13% |
| Net Income | 318.8M▲ 0% | 363.61M▲ 14.1% | 436.48M▲ 20.0% | 395.49M▼ 9.4% | 359.46M▼ 9.1% | 869.41M▲ 141.9% | 872.31M▲ 0.3% | 860.77M▼ 1.3% | 1.06B▲ 23.0% | 799.62M▲ 0% |
| Net Margin % | 26.22% | 27.38% | 29.33% | 24.01% | 17.28% | 26% | 21.39% | 16.33% | 18.41% | 13.51% |
| Net Income Growth % | 1.02% | 14.06% | 20.04% | -9.39% | -9.11% | 141.87% | 0.33% | -1.32% | 22.98% | -18.27% |
| Funds From Operations (FFO) | 817.59M▲ 0% | 903.39M▲ 10.5% | 1.03B▲ 14.1% | 1.07B▲ 4.1% | 1.26B▲ 17.2% | 2.54B▲ 102.0% | 2.77B▲ 9.0% | 3.26B▲ 17.7% | 3.53B▲ 8.4% | 3.29B▲ 0% |
| FFO Margin % | 67.25% | 68.03% | 69.24% | 65.12% | 60.43% | 75.96% | 67.85% | 61.78% | 61.41% | 55.65% |
| FFO Growth % | 6.8% | 10.5% | 14.06% | 4.08% | 17.23% | 102.01% | 8.96% | 17.67% | 8.43% | -12.21% |
| FFO per Share | 2.98 | 3.12 | 3.26 | 3.11 | 3.03 | 4.15 | 3.99 | 3.71 | 3.90 | - |
| FFO Payout Ratio % | 85.06% | 84.3% | 82.7% | 89.9% | 92.98% | 71.4% | 76.31% | 82.9% | 82.73% | 0% |
| EPS (Diluted) | 1.10▲ 0% | 1.26▲ 14.5% | 1.38▲ 9.5% | 1.14▼ 17.4% | 0.87▼ 23.7% | 1.42▲ 63.2% | 1.26▼ 11.3% | 0.98▼ 22.2% | 1.17▲ 19.4% | -▲ 0% |
| EPS Growth % | -2.65% | 14.55% | 9.52% | -17.39% | -23.68% | 63.22% | -11.27% | -22.22% | 19.39% | 10.91% |
| EPS (Basic) | 1.10 | 1.26 | 1.38 | 1.15 | 0.87 | 1.42 | 1.26 | 0.98 | 1.17 | - |
| Diluted Shares Outstanding | 273.94M | 289.92M | 316.16M | 345.42M | 414.77M | 612.18M | 693.02M | 876.81M | 904.79M | 0 |
Realty Income Corporation (O) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | 14.06B | 15.26B | 18.55B | 20.74B | 43.14B | 49.67B | 57.78B | 68.84B | 72.8B | 74.55B |
| Asset Growth % | 6.88% | 8.55% | 21.59% | 11.78% | 107.99% | 15.15% | 16.32% | 19.13% | 5.75% | 21.68% |
| Real Estate & Other Assets | 12.68B | 13.86B | 16.43B | 17.49B | 32.03B | 37.92B | 43.65B | 51.05B | -54.77B | 0 |
| PP&E (Net) | 12.68B | 13.83B | 16.56B | 230.63M | 849.85M | 1.07B | 1.3B | 1.27B | 0 | 0 |
| Investment Securities | 0 | 0 | 0 | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 0 |
| Total Current Assets | 163.32M | 184.89M | 455.5M | 1.29B | 1.16B | 1.77B | 2.9B | 4.02B | 1.49B | 1.49B |
| Cash & Equivalents | 6.9M | 10.39M | 54.01M | 824.48M | 258.58M | 171.1M | 232.92M | 444.96M | 434.84M | 373.54M |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Other Current Assets | 14.85M | 17.91M | 116.11M | 41.22M | 127.57M | 43.29M | 6.45M | 131.53M | 0 | 0 |
| Intangible Assets | 1.19B | 1.2B | 1.49B | 1.71B | 5.28B | 5.17B | 5.02B | 6.32B | 91.78M | 139.94M |
| Total Liabilities | 6.67B | 7.14B | 8.75B | 9.72B | 18.01B | 20.83B | 24.67B | 29.78B | 32.67B | 33.32B |
| Total Debt | 6.12B | 6.51B | 8.03B | 8.94B | 15.95B | 18.6B | 21.99B | 26.76B | 32.85B | 0 |
| Net Debt | 6.11B | 6.5B | 7.98B | 8.11B | 15.69B | 18.43B | 21.76B | 26.31B | 32.42B | -373.54M |
| Long-Term Debt | 6B | 6.25B | 7.2B | 8.82B | 13.89B | 15.38B | 20.76B | 25.1B | 27.8B | 0 |
| Short-Term Borrowings | 110M | 252M | 704.34M | 0 | 1.55B | 2.73B | 764.39M | 1.13B | 2.92B | 0 |
| Capital Lease Obligations | 5.33M | 0 | 128.23M | 120.81M | 505.74M | 489.56M | 469.56M | 530.15M | 2.14B | 3.19B |
| Total Current Liabilities | 385.61M | 561.93M | 1.06B | 383.9M | 2.22B | 3.5B | 1.89B | 2.4B | 2.92B | 0 |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 105.28M | 115.38M | 127.69M | 130.23M | 242.12M | 269.64M | 312.19M | 352.33M | 460.97M | 0 |
| Other Liabilities | 169.77M | 208.58M | 238.08M | 400.37M | 1.39B | 1.46B | 1.56B | 1.76B | -642.6M | 0 |
| Total Equity | 7.39B▲ 0% | 8.12B▲ 9.9% | 9.8B▲ 20.7% | 11.02B▲ 12.4% | 25.13B▲ 128.1% | 28.84B▲ 14.8% | 33.11B▲ 14.8% | 39.05B▲ 18.0% | 40.12B▲ 2.7% | 41.24B▲ 0% |
| Equity Growth % | 8.89% | 9.88% | 20.73% | 12.38% | 128.08% | 14.78% | 14.78% | 17.96% | 2.75% | 10.51% |
| Shareholders Equity | 7.37B | 8.09B | 9.77B | 10.99B | 25.05B | 28.71B | 32.94B | 38.84B | 39.44B | 39.15B |
| Minority Interest | 19.21M | 32.24M | 29.7M | 32.25M | 76.83M | 130.14M | 165.5M | 210.95M | 685.27M | 2.09B |
| Common Stock | 9.62B | 10.75B | 12.87B | 14.7B | 29.58B | 34.16B | 39.63B | 47.45B | 49.86B | 49.98B |
| Additional Paid-in Capital | -2.25B | -2.66B | -3.08B | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | -2.25B | -2.66B | -3.08B | -3.66B | -4.53B | -5.49B | -6.76B | -8.65B | -10.53B | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Return on Assets (ROA) | 2.34% | 2.48% | 2.58% | 2.01% | 1.13% | 1.87% | 1.62% | 1.36% | 1.49% | 1.1% |
| Return on Equity (ROE) | 4.5% | 4.69% | 4.87% | 3.8% | 1.99% | 3.22% | 2.82% | 2.39% | 2.67% | 2% |
| Debt / Assets | 43.51% | 42.63% | 43.28% | 43.1% | 36.97% | 37.45% | 38.06% | 38.87% | 45.13% | 0% |
| Debt / Equity | 0.83x | 0.80x | 0.82x | 0.81x | 0.63x | 0.64x | 0.66x | 0.69x | 0.82x | 0.82x |
| Net Debt / EBITDA | 5.62x | 5.52x | 5.98x | 5.52x | 8.48x | 6.19x | 6.01x | 5.58x | 7.91x | 7.91x |
| Book Value per Share | 26.98 | 28.01 | 31.01 | 31.90 | 60.59 | 47.12 | 47.77 | 44.54 | 44.35 | 44.35 |
Realty Income Corporation (O) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 875.85M | 940.74M | 1.07B | 1.12B | 1.32B | 2.56B | 2.96B | 3.57B | 3.99B | 3.99B |
| Operating CF Growth % | 8.93% | 7.41% | 13.63% | 4.36% | 18.52% | 93.91% | 15.4% | 20.77% | 11.8% | -56% |
| Operating CF / Revenue % | 72.04% | 70.85% | 71.83% | 67.73% | 63.55% | 76.68% | 72.54% | 67.79% | 69.48% | 67.51% |
| Net Income | 319.32M | 364.6M | 437.48M | 396.51M | 360.75M | 872.42M | 872.31M | 867.34M | 1.07B | 799.62M |
| Depreciation & Amortization | 498.79M | 539.78M | 593.96M | 677.04M | 897.84M | 1.67B | 1.9B | 2.4B | 2.52B | 2.55B |
| Stock-Based Compensation | 13.95M | 27.27M | 13.66M | 16.5M | 41.77M | 21.62M | 26.23M | 57.49M | 0 | -5.9M |
| Other Non-Cash Items | 4.76M | -1.59M | -1.95M | 4.43M | -24.89M | 34.25M | -13.56M | 218.56M | 322.92M | -703.45M |
| Working Capital Changes | 26M | 11.79M | 15.1M | -59.52M | -35.07M | -34.81M | 174.01M | 30.69M | 77.85M | 231.68M |
| Cash from Investing | -1.25B | -1.64B | -3.5B | -2.03B | -6.44B | -8.39B | -9.35B | -3.34B | -5.17B | -3.87B |
| Acquisitions (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 93.68M | 488.45M | 488.45M |
| Purchase of Investments | -1.42B | -1.77B | -3.59B | -2.28B | -6.34B | -8.89B | -9.43B | -3.96B | -6.31B | -4.92B |
| Sale of Investments | 167.1M | 147.55M | 108.91M | 259.46M | 288.88M | 551.47M | 121.28M | 646.75M | 778.55M | 678.96M |
| Other Investing | 14.41M | 7.65M | 0 | 0 | -366.03M | 49.07M | 27.28M | 2.79M | 3.49M | -1.81M |
| Cash from Financing | 375.12M | 707.87M | 2.49B | 1.69B | 4.58B | 5.74B | 6.44B | -21.16M | 1.19B | 814.78M |
| Dividends Paid | -695.46M | -761.58M | -852.13M | -964.17M | -1.17B | -1.81B | -2.11B | -2.7B | -2.92B | -2.21B |
| Common Dividends | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt Issuance (Net) | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 3M |
| Share Repurchases | -408.75M | -2.75M | -21.12M | 0 | 0 | 0 | 0 | -172.51M | 0 | 0 |
| Other Financing | -58.04M | -35.32M | -1.23M | -30.21M | 464.91M | 71.04M | -6.89M | -19M | 34.83M | 47.28M |
| Net Change in Cash | -2.52M▲ 0% | 3.49M▲ 238.3% | 43.62M▲ 1150.3% | 770.47M▲ 1666.1% | -565.9M▼ 173.4% | -87.48M▲ 84.5% | 61.82M▲ 170.7% | 212.04M▲ 243.0% | -10.12M▼ 104.8% | 115.83M▲ 0% |
| Exchange Rate Effect | 1.02M | -5.44M | -16.11M | -4.78M | -27.51M | -2.5M | 20.55M | 2.8M | -19.5M | -39.81M |
| Cash at Beginning | 9.42M | 6.9M | 10.39M | 54.01M | 824.48M | 258.58M | 171.1M | 232.92M | 444.96M | 0 |
| Cash at End | 6.9M | 10.39M | 54.01M | 824.48M | 258.58M | 171.1M | 232.92M | 444.96M | 434.84M | 0 |
| Free Cash Flow | 860.6M▲ 0% | 915.39M▲ 6.4% | 1.05B▲ 14.2% | 1.11B▲ 5.9% | 1.3B▲ 17.7% | 2.47B▲ 89.4% | 2.89B▲ 17.1% | 3.45B▲ 19.4% | 3.86B▲ 11.9% | 3.1B▲ 0% |
| FCF Growth % | 8.85% | 6.37% | 14.2% | 5.88% | 17.73% | 89.42% | 17.09% | 19.44% | 11.91% | -10.13% |
| FCF / Revenue % | 70.79% | 68.94% | 70.25% | 67.2% | 62.64% | 73.82% | 70.85% | 65.49% | 67.19% | 52.36% |
Realty Income Corporation (O) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| FFO per Share | 2.98 | 3.12 | 3.26 | 3.11 | 3.03 | 4.15 | 3.99 | 3.71 | 3.9 | - |
| FFO Payout Ratio | 85.06% | 84.3% | 82.7% | 89.9% | 92.98% | 71.4% | 76.31% | 82.9% | 82.73% | 0% |
| NOI Margin | 94.29% | 95% | 94.05% | 93.65% | 93.58% | 93.23% | 92.23% | 92.84% | 89.8% | 91.89% |
| Net Debt / EBITDA | 5.62x | 5.52x | 5.98x | 5.52x | 8.48x | 6.19x | 6.01x | 5.58x | 7.91x | 7.91x |
| Debt / Assets | 43.51% | 42.63% | 43.28% | 43.1% | 36.97% | 37.45% | 38.06% | 38.87% | 45.13% | 0% |
| Book Value / Share | 26.98 | 28.01 | 31.01 | 31.9 | 60.59 | 47.12 | 47.77 | 44.54 | 44.35 | 44.35 |
| Revenue Growth | 10.21% | 9.22% | 12.07% | 10.68% | 26.31% | 60.72% | 21.99% | 29.23% | 9.07% | 9.77% |
Realty Income Corporation (O) SEC filings — annual & quarterly reports (10-K, 10-Q)
May 6, 2026·SEC
Apr 7, 2026·SEC
Mar 31, 2026·SEC
Realty Income Corporation (O) stock FAQ — growth, dividends, profitability & financials explained
Realty Income Corporation (O) reported $5.92B in revenue for fiscal year 2025. This represents a 10290% increase from $57.0M in 1996.
Realty Income Corporation (O) grew revenue by 9.1% over the past year. This is steady growth.
Yes, Realty Income Corporation (O) is profitable, generating $799.6M in net income for fiscal year 2025 (18.4% net margin).
Yes, Realty Income Corporation (O) pays a dividend with a yield of 5.04%. This makes it attractive for income-focused investors.
Realty Income Corporation (O) has a return on equity (ROE) of 2.7%. This is below average, suggesting room for improvement.
Realty Income Corporation (O) generated Funds From Operations (FFO) of $3.29B in the trailing twelve months. FFO is the primary profitability metric for REITs.
Realty Income Corporation (O) offers a 5.04% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.
Realty Income Corporation (O) financial analysis — history, returns, DCA and operating performance tools
Analyst verdict, bull/bear case, risk factors and peer comparison
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates