Realty Income Corporation (O) P/E Ratio History
Fairly ValuedTrading at 47.5x, near 5Y avg of 52.6x · 30th percentile · In line with own history · Data 1995–2026
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P/E Ratio Analysis
As of September 24, 2026, Realty Income Corporation (O) trades at a price-to-earnings ratio of 47.5x, with a stock price of $55.61 and trailing twelve-month earnings per share of $1.41.
The current P/E is roughly in line with its 5-year average of 52.6x. Over the past five years, O's P/E has ranged from a low of 37.8x to a high of 76.3x, placing the current valuation at the 30th percentile of its historical range.
Compared to the Real Estate sector median P/E of 22.2x, O trades at a 114% premium to its sector peers. The sector includes 175 companies with P/E ratios ranging from 0.0x to 184.4x.
Relative to the broader market, O commands a significant premium over the S&P 500 median P/E of 25.3x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our O DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
O Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
O P/E vs Peers
Net Lease Retail REITs peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $8B | 20.0 | 1.79 | -4% | |
| $8B | 37.9 | - | -1% | |
| $6B | 21.0 | 0.88 | +11% | |
| $2B | 21.4 | - | +8% | |
| $2B | 224.0 | 3.78 | +151%Best | |
| $66B | 14.4Lowest | 0.46 | +95% | |
| $15B | 26.8 | - | +51% | |
| $13B | 25.8 | 0.42Best | +34% | |
| $8B | 22.1 | - | +13% | |
| $15B | 31.5 | - | +1% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
O Historical P/E Data (1995–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q2 | - | $61.96 | $1.37 | 45.2x | +35% |
| FY2026 Q1 | - | $61.18 | $1.22 | 50.1x | +50% |
| FY2025 Q4 | Dec 31 2025 | $56.37 | $1.17 | 48.2x | +44% |
| FY2025 Q3 | - | $60.79 | $1.08 | 56.3x | +68% |
| FY2025 Q2 | Jun 30 2025 | $57.61 | $1.03 | 55.9x | +67% |
| FY2025 Q1 | Mar 31 2025 | $58.01 | $1.10 | 52.7x | +58% |
| FY2024 Q4 | - | $53.41 | $0.98 | 54.5x | +63% |
| FY2024 Q3 | Sep 30 2024 | $63.42 | $1.05 | 60.4x | +81% |
| FY2024 Q2 | Jun 30 2024 | $52.82 | $1.08 | 48.9x | +46% |
| FY2024 Q1 | Mar 31 2024 | $54.10 | $1.08 | 50.1x | +50% |
| FY2023 Q4 | Dec 31 2023 | $57.42 | $1.26 | 45.6x | +36% |
| FY2023 Q3 | Sep 30 2023 | $49.94 | $1.32 | 37.8x | +13% |
| FY2023 Q2 | Jun 30 2023 | $59.79 | $1.35 | 44.3x | +32% |
| FY2023 Q1 | Mar 31 2023 | $63.32 | $1.43 | 44.3x | +32% |
| FY2022 Q4 | Dec 31 2022 | $63.43 | $1.43 | 44.4x | +33% |
| FY2022 Q3 | Sep 30 2022 | $58.20 | $1.08 | 54.0x | +61% |
| FY2022 Q2 | - | $68.26 | $1.06 | 64.5x | +93% |
| FY2022 Q1 | - | $69.30 | $1.02 | 68.1x | +104% |
| FY2021 Q4 | Dec 31 2021 | $71.59 | $0.94 | 76.3x | +128% |
| FY2021 Q3 | - | $62.81 | $1.26 | 49.8x | +49% |
| FY2021 Q2 | Jun 30 2021 | $64.63 | $0.99 | 65.3x | +95% |
| FY2021 Q1 | Mar 31 2021 | $61.49 | $0.97 | 63.4x | +90% |
| FY2020 Q4 | - | $60.20 | $1.15 | 52.3x | +57% |
| FY2020 Q3 | Sep 30 2020 | $58.83 | $1.21 | 48.6x | +45% |
| FY2020 Q2 | - | $57.62 | $1.46 | 39.5x | +18% |
| FY2020 Q1 | - | $48.28 | $1.46 | 33.1x | -1% |
| FY2019 Q4 | - | $71.30 | $1.39 | 51.3x | +53% |
| FY2019 Q3 | Sep 30 2019 | $74.26 | $1.29 | 57.6x | +72% |
| FY2019 Q2 | Jun 30 2019 | $66.79 | $1.31 | 51.0x | +52% |
| FY2019 Q1 | Mar 31 2019 | $71.23 | $1.34 | 53.2x | +59% |
| FY2018 Q4 | Dec 31 2018 | $61.05 | $1.26 | 48.5x | +45% |
| FY2018 Q3 | Sep 30 2018 | $55.09 | $1.19 | 46.3x | +38% |
| FY2018 Q2 | Jun 30 2018 | $52.09 | $1.17 | 44.5x | +33% |
| FY2018 Q1 | Mar 31 2018 | $50.09 | $1.13 | 44.3x | +33% |
| FY2017 Q4 | Dec 31 2017 | $55.22 | $1.11 | 49.7x | +49% |
| FY2017 Q3 | Sep 30 2017 | $55.38 | $1.22 | 45.4x | +36% |
| FY2017 Q2 | Jun 30 2017 | $53.44 | $1.17 | 45.7x | +37% |
| FY2017 Q1 | Mar 31 2017 | $57.65 | $1.14 | 50.6x | +51% |
| FY2016 Q4 | Dec 31 2016 | $55.66 | $1.12 | 49.7x | +49% |
| FY2016 Q3 | Sep 30 2016 | $64.81 | $1.10 | 58.9x | +76% |
| FY2016 Q2 | - | $67.17 | $1.09 | 61.6x | +84% |
| FY2016 Q1 | - | $60.53 | $1.07 | 56.6x | +69% |
| FY2015 Q4 | - | $50.00 | $1.09 | 45.9x | +37% |
| FY2015 Q3 | Sep 30 2015 | $45.89 | $1.10 | 41.7x | +25% |
| FY2015 Q2 | - | $42.99 | $1.10 | 39.1x | +17% |
| FY2015 Q1 | - | $49.97 | $1.08 | 46.3x | +38% |
| FY2014 Q4 | Dec 31 2014 | $46.20 | $1.04 | 44.4x | +33% |
| FY2014 Q3 | - | $39.50 | $0.91 | 43.4x | +30% |
| FY2014 Q2 | Jun 30 2014 | $43.02 | $0.86 | 50.0x | +50% |
| FY2014 Q1 | Mar 31 2014 | $39.57 | $0.86 | 46.0x | +38% |
| FY2013 Q4 | - | $36.15 | $0.99 | 36.5x | +9% |
| FY2013 Q3 | Sep 30 2013 | $38.49 | $0.96 | 40.1x | +20% |
| FY2013 Q2 | Jun 30 2013 | $40.59 | $0.95 | 42.7x | +28% |
| FY2013 Q1 | Mar 31 2013 | $43.92 | $0.97 | 45.3x | +35% |
| FY2012 Q4 | Dec 31 2012 | $38.94 | $0.81 | 48.1x | +44% |
| FY2012 Q3 | Sep 30 2012 | $39.60 | $0.92 | 43.0x | +29% |
| FY2012 Q2 | Jun 30 2012 | $40.45 | $0.99 | 40.9x | +22% |
| FY2012 Q1 | Mar 31 2012 | $37.51 | $1.00 | 37.5x | +12% |
| FY2011 Q4 | Dec 31 2011 | $33.85 | $1.05 | 32.2x | -4% |
| FY2011 Q3 | Sep 30 2011 | $31.22 | $1.07 | 29.2x | -13% |
| FY2011 Q2 | - | $32.43 | $1.05 | 30.9x | -8% |
| FY2011 Q1 | - | $33.84 | $1.03 | 32.9x | -2% |
| FY2010 Q4 | Dec 31 2010 | $33.12 | $1.01 | 32.8x | -2% |
| FY2010 Q3 | - | $32.65 | $1.00 | 32.6x | -2% |
| FY2010 Q2 | Jun 30 2010 | $29.37 | $1.01 | 29.1x | -13% |
| FY2010 Q1 | Mar 31 2010 | $29.72 | $1.03 | 28.9x | -14% |
| FY2009 Q4 | - | $25.09 | $1.03 | 24.4x | -27% |
| FY2009 Q3 | Sep 30 2009 | $24.84 | $1.01 | 24.6x | -26% |
| FY2009 Q2 | - | $21.23 | $1.04 | 20.4x | -39% |
| FY2009 Q1 | - | $18.22 | $1.05 | 17.4x | -48% |
| FY2008 Q4 | Dec 31 2008 | $22.42 | $1.06 | 21.2x | -37% |
| FY2008 Q3 | - | $24.79 | $1.13 | 21.9x | -34% |
| FY2008 Q2 | Jun 30 2008 | $22.04 | $1.12 | 19.7x | -41% |
| FY2008 Q1 | Mar 31 2008 | $24.81 | $1.16 | 21.4x | -36% |
| FY2007 Q4 | Dec 31 2007 | $26.17 | $1.22 | 21.5x | -36% |
| FY2007 Q3 | Sep 30 2007 | $27.07 | $1.19 | 22.7x | -32% |
| FY2007 Q2 | Jun 30 2007 | $24.39 | $1.18 | 20.7x | -38% |
| FY2007 Q1 | Mar 31 2007 | $27.31 | $1.14 | 24.0x | -28% |
| FY2006 Q4 | Dec 31 2006 | $26.82 | $1.11 | 24.2x | -28% |
| FY2006 Q3 | Sep 30 2006 | $23.93 | $1.12 | 21.4x | -36% |
| FY2006 Q2 | Jun 30 2006 | $21.21 | $1.11 | 19.1x | -43% |
| FY2006 Q1 | Mar 31 2006 | $23.44 | $1.12 | 20.9x | -37% |
| FY2005 Q4 | Dec 31 2005 | $20.94 | $1.12 | 18.7x | -44% |
| FY2005 Q3 | Sep 30 2005 | $23.15 | $1.12 | 20.7x | -38% |
| FY2005 Q2 | - | $24.25 | $1.14 | 21.3x | -36% |
| FY2005 Q1 | - | $22.16 | $1.13 | 19.6x | -41% |
| FY2004 Q4 | Dec 31 2004 | $24.49 | $1.15 | 21.3x | -36% |
| FY2004 Q3 | - | $21.80 | $1.17 | 18.6x | -44% |
| FY2004 Q2 | Jun 30 2004 | $20.21 | $1.15 | 17.6x | -47% |
| FY2004 Q1 | Mar 31 2004 | $21.62 | $1.14 | 19.0x | -43% |
| FY2003 Q4 | Dec 31 2003 | $19.37 | $1.08 | 17.9x | -46% |
| FY2003 Q3 | - | $19.20 | $1.00 | 19.2x | -43% |
| FY2003 Q2 | Jun 30 2003 | $18.44 | $1.02 | 18.1x | -46% |
| FY2003 Q1 | Mar 31 2003 | $17.31 | $1.00 | 17.3x | -48% |
| FY2002 Q4 | - | $16.95 | $1.01 | 16.8x | -50% |
| FY2002 Q3 | Sep 30 2002 | $16.54 | $1.04 | 15.9x | -52% |
| FY2002 Q2 | Jun 30 2002 | $17.88 | $1.01 | 17.7x | -47% |
| FY2002 Q1 | Mar 31 2002 | $16.08 | $0.97 | 16.6x | -50% |
| FY2001 Q4 | Dec 31 2001 | $14.24 | $1.03 | 13.8x | -59% |
| FY2001 Q3 | Sep 30 2001 | $14.04 | $1.01 | 13.9x | -58% |
| FY2001 Q2 | Jun 30 2001 | $14.31 | $0.95 | 15.1x | -55% |
| FY2001 Q1 | Mar 31 2001 | $12.83 | $0.95 | 13.5x | -60% |
| FY2000 Q4 | Dec 31 2000 | $12.04 | $0.85 | 14.2x | -58% |
| FY2000 Q3 | Sep 30 2000 | $11.29 | $0.76 | 14.9x | -56% |
| FY2000 Q2 | Jun 30 2000 | $11.41 | $0.78 | 14.6x | -56% |
| FY2000 Q1 | Mar 31 2000 | $9.32 | $0.77 | 12.1x | -64% |
| FY1999 Q4 | Dec 31 1999 | $9.99 | $0.76 | 13.1x | -61% |
| FY1999 Q3 | - | $11.20 | $0.79 | 14.2x | -58% |
| FY1999 Q2 | Jun 30 1999 | $11.50 | $0.78 | 14.7x | -56% |
| FY1999 Q1 | Mar 31 1999 | $10.17 | $0.78 | 13.0x | -61% |
| FY1998 Q4 | - | $12.04 | $0.78 | 15.4x | -54% |
| FY1998 Q3 | Sep 30 1998 | $12.04 | $0.77 | 15.6x | -53% |
| FY1998 Q2 | - | $12.77 | $0.76 | 16.8x | -50% |
| FY1998 Q1 | - | $13.16 | $0.75 | 17.5x | -48% |
| FY1997 Q4 | Dec 31 1997 | $12.32 | $0.74 | 16.6x | -50% |
| FY1997 Q3 | - | $13.04 | $0.74 | 17.6x | -47% |
| FY1997 Q2 | Jun 30 1997 | $12.71 | $0.72 | 17.7x | -47% |
| FY1997 Q1 | Mar 31 1997 | $11.14 | $0.71 | 15.7x | -53% |
| FY1996 Q4 | - | $11.56 | $0.70 | 16.5x | -51% |
| FY1996 Q3 | Sep 30 1996 | $11.02 | $0.67 | 16.4x | -51% |
| FY1996 Q2 | Jun 30 1996 | $10.05 | $0.66 | 15.2x | -54% |
| FY1996 Q1 | Mar 31 1996 | $10.05 | $0.64 | 15.7x | -53% |
| FY1995 Q4 | Dec 31 1995 | $10.89 | $0.63 | 17.3x | -48% |
| FY1995 Q3 | Sep 30 1995 | $10.23 | $0.65 | 15.7x | -53% |
Average P/E for displayed period: 33.4x
O Chart Terminal
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Peer Comparison
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O — Frequently Asked Questions
Quick answers to the most common questions about buying O stock.
What is O's P/E ratio?
Realty Income Corporation (O) trailing twelve-month P/E ratio is 47.5x, based on TTM diluted EPS of $1.41. The 5-year average P/E is 52.6x and the historical range spans 37.8x to 76.3x.
Is O stock overvalued or undervalued?
O trades at 47.5x P/E, near its 5-year average of 52.6x. The 30th percentile ranking within the 37.8x–76.3x historical range places valuation within normal bounds.
Is O stock expensive?
O is fairly valued relative to its own history. The current P/E of 47.5x is near the 5-year average of 52.6x (30th percentile of historical range).
What is O's historical P/E range?
Over the past 5 years, O's P/E ratio has ranged from 37.8x to 76.3x, with a median of 50.1x and an average of 52.6x. The current P/E of 47.5x places the stock at the 30th percentile of this range. Full historical data spans 1995–2026.
How does O's P/E compare to the S&P 500?
O trades at 47.5x P/E versus the S&P 500 median of 25.3x. The 88% premium to the market typically reflects higher expected earnings growth or quality.
How does O's valuation compare to Real Estate peers?
Realty Income Corporation P/E of 47.5x compares to the Real Estate sector median of 22.2x. The premium reflects expected growth above peers or stronger fundamentals. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is O's PEG ratio?
O PEG ratio is N/A, based on a P/E of 47.5x and EPS growth of 19.4%. PEG normalises P/E by growth and helps compare stocks with different earnings trajectories.
What is O's earnings yield?
O earnings yield is 2.10%, the inverse of its 47.5x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.