Realty Income O · USD
Real Estate · Equity Real Estate Investment Trusts (REITs) · US listing · 🇺🇸 United States
S&P 500
59.50
+0.78%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$5.75bn
FY2016FY2025
Net income
$1.06bn
FY2016FY2025
Free cash flow
$3.86bn
FY2016FY2025
Shareholders' equity
$39.44bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.75bn | $5.27bn | $4.08bn | $3.34bn | $2.08bn | $1.65bn | $1.49bn | $1.33bn | $1.22bn | $1.10bn |
| Gross profit | $5.16bn | $4.89bn | $3.76bn | $3.12bn | $1.95bn | $1.54bn | $1.40bn | $1.26bn | $1.15bn | $1.04bn |
| Research and development | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Operating income | $1.63bn | $1.96bn | $1.71bn | $917.6m | $952.0m | $792.2m | $739.1m | $637.6m | $589.1m | $538.4m |
| Net income | $1.06bn | $860.8m | $872.3m | $869.4m | $359.5m | $395.5m | $436.5m | $363.6m | $318.8m | $315.6m |
| Diluted earnings per share | 1.17 | 0.98 | 1.20 | 1.37 | 0.61 | 1.11 | 1.33 | 1.24 | 1.15 | 1.22 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $72.80bn | $68.84bn | $57.78bn | $49.67bn | $43.14bn | $20.74bn | $18.55bn | $15.26bn | $14.06bn | $13.15bn |
| Cash and short-term investments | $434.8m | $445.0m | $232.9m | $171.1m | $258.6m | $824.5m | $54.0m | $10.4m | $6.9m | $9.4m |
| Total liabilities | $32.67bn | $29.78bn | $24.67bn | $20.83bn | $18.01bn | $9.72bn | $8.75bn | $7.14bn | $6.67bn | $6.37bn |
| Debt | $31.83bn | $26.30bn | $21.56bn | $18.16bn | $15.49bn | $8.82bn | $7.91bn | $6.51bn | $6.12bn | $5.84bn |
| Shareholders' equity | $39.44bn | $38.84bn | $33.11bn | $28.71bn | $25.05bn | $11.02bn | $9.77bn | $8.09bn | $7.37bn | $6.77bn |
| Shares outstanding | 905m | 880m | 727m | 636m | 591m | 357m | 329m | 293m | 277m | 260m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $3.99bn | $3.57bn | $2.96bn | $2.56bn | $1.32bn | $1.12bn | $1.07bn | $940.7m | $875.9m | $804.0m |
| Capital spending | −$131.8m | −$121.4m | −$68.7m | −$8.98bn | −$6.33bn | −$26.8m | −$3.49bn | −$25.4m | −$15.2m | −$13.4m |
| Free cash flow | $3.86bn | $3.45bn | $2.89bn | −$6.42bn | −$5.01bn | $1.09bn | −$2.42bn | $915.4m | $860.6m | $790.6m |
| Dividends paid | −$2.92bn | −$2.70bn | −$2.11bn | −$1.81bn | −$1.17bn | −$964.2m | −$852.1m | −$761.6m | −$695.5m | −$637.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.55bn | $1.55bn | $1.49bn | $1.47bn | $1.41bn | $1.38bn | $1.34bn | $1.33bn |
| Gross profit | $1.55bn | $171.3m | $1.22bn | $1.36bn | $1.30bn | $1.27bn | $1.24bn | $1.24bn |
| Operating income | $550.8m | $725.7m | $757.7m | $674.1m | $604.7m | $620.8m | $588.2m | $594.6m |
| Net income | $397.1m | $311.8m | $296.1m | $315.8m | $196.9m | $249.8m | $199.6m | $269.5m |
| Diluted earnings per share | 0.42 | 0.33 | 0.33 | 0.35 | 0.22 | 0.28 | 0.23 | 0.31 |
| Cash from operations | $1.15bn | $874.0m | $1.20bn | $943.0m | $1.06bn | $787.0m | $971.0m | $841.0m |
| Capital spending | −$1.96bn | −$26.0m | −$49.0m | −$33.0m | −$26.0m | −$22.0m | −$36.0m | −$33.0m |
| Free cash flow | −$812.0m | $848.0m | $1.15bn | $910.0m | $1.03bn | $765.0m | $935.0m | $808.0m |
| Total assets | $76.44bn | $74.55bn | $72.80bn | $71.28bn | $71.42bn | $69.76bn | $68.84bn | $68.47bn |
| Cash and short-term investments | $552.6m | $373.5m | $434.8m | $417.2m | $800.4m | $319.0m | $445.0m | $397.0m |
| Debt | $27.89bn | $29.63bn | $31.83bn | $30.37bn | $29.90bn | $28.80bn | $27.43bn | $26.63bn |
| Shareholders' equity | $39.55bn | $39.15bn | $39.44bn | $39.05bn | $39.15bn | $39.03bn | $38.84bn | $38.46bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 19.8% | 28.4% | 18.8% |
| Operating income | 21.0% | 15.5% | 12.3% |
| Net income | 6.8% | 21.8% | 14.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 91.3% | 91.8% | 92.1% | 92.6% |
| Operating margin | 32.5% | 33.7% | 35.9% | 38.7% |
| Net margin | 17.4% | 19.9% | 19.9% | 21.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 48.3 | 54.6 | 47.9 | 46.4 | 117.8 | 56.2 | 55.6 | 50.9 | 49.5 | 47.3 |
| Price to sales | 8.9 | 8.9 | 10.2 | 12.1 | 20.4 | 13.5 | 16.3 | 13.9 | 13.0 | 13.5 |
Market value over time
31 Oct 2016 to 14 Sept 2026, in USD
$14.85bn$55.40bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 7% | -8% | -10% | -6% | 13% | -18% | 13% | 15% | -2% | 11% |
Dividends and splits
Per share, in the currency the company pays
Paid for 32 years. Last went ex-dividend on 30 Sept 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.438 | 3.223 | 3.133 | 3.059 | 2.969 | 2.845 | 2.801 | 2.717 |
- 2-for-1 split · 3 Jan 2005
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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