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Realty Income Corporation

Realty Income Corporation’s revenue for fiscal 2025 (year ended December 2025) was $5.7 billion, up 9.07% from fiscal 2024. In the quarter to June 2026, revenue grew 9.74%, EPS grew 68.2%, free cash flow fell 639.9% and total debt rose 8.11%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, revenue growth for ten, operating cash flow growth for ten.

56.06 0.51 +0.92%

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Market cap: $52.6B
P/E: 40.9×
Fwd P/E: 38.7×
Dividend yield: 5.79%
F-score: 5/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 0.87

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	2	—	—	—	—	1	—

Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 52,560.00

Revenue 6,054.93

Net Income 1,310.76

Free Cash Flow (1,099.85)

Net Debt 25,210.14

Current Ratio 5.88

Debt/Equity 0.73

P/E ratio 40.92

Fwd P/E 38.70

P/S ratio 8.63

P/B ratio 1.25

Past 5Y EPS Growth 0.52%

This Y EPS Growth 29.97%

Next Y EPS Growth 10.07%

Next Y revenue growth 0.39%

Next 5Y EPS Growth 11.76%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 6.75%

10-year low 10-year high

P/S against its own 10 years 0.88%

10-year low 10-year high

P/B against its own 10 years 13.09%

10-year low 10-year high

EV/Sales against its own 10 years 0.66%

10-year low 10-year high

Dividends

Payout Ratio 2.37

Annual Dividend Rate 3.25

Annual Dividend Yield 5.79%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	3.26	0.27 0.27 0.27 0.27 0.27 0.27 0.27 0.27 0.27
2025	3.49	0.26 0.26 0.27 0.27 0.27 0.27 0.27 0.27 0.27 0.27 0.27 0.27 0.27
2024	2.87	0.26 0.26 0.26 0.26 0.26 0.26 0.26 0.26 0.26 0.26 0.26
2023	3.06	0.25 0.25 0.26 0.26 0.26 0.26 0.26 0.26 0.26 0.26 0.26 0.26
2022	2.97	0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25
2021	3.02	0.23 0.23 0.23 0.23 0.23 0.23 0.23 0.23 0.23 0.23 0.25 0.25 0.25
2020	2.71	0.23 0.23 0.23 0.23 0.23 0.23 0.23 0.23 0.23 0.23 0.23 0.23
2019	2.63	0.22 0.22 0.22 0.22 0.22 0.22 0.22 0.22 0.22 0.22 0.22 0.22
2018	2.56	0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21
2017	2.46	0.20 0.20 0.20 0.20 0.20 0.20 0.20 0.20 0.21 0.21 0.21 0.21
2016	2.33	0.19 0.19 0.19 0.19 0.19 0.19 0.19 0.20 0.20 0.20 0.20 0.20

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	233	445	435	5,442
Receivables	711	878	1,053	1,135
Inventory	—	—	—	—
Other	—	—	—	—
	943	1,323	1,488	6,576

	2023	2024	2025	Q'26
Payables	739	759	1,061	1,119
ST’ Debt	—	—	—	—
Other	—	—	—	—
	739	759	1,061	1,119

Compound Annual Growth %

	10y	5y	3y
Sales	18.84%	28.40%	19.80%
Cash Flow	19.14%	29.06%	15.93%
Earnings	15.22%	21.76%	6.78%
Book Value	19.87%	29.50%	11.63%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	1,549	1,548	—	—	—
’25	1,381	1,410	1,471	1,488	5,749
’24	1,260	1,339	1,331	1,340	5,271
’23	944	1,019	1,039	1,076	4,079
’22	807	810	837	889	3,344
’21	442	463	490	685	2,080
’20	414	415	405	414	1,647

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	875	1,145	—	—	—
’25	788	1,061	943	1,203	3,995
’24	779	981	841	972	3,573
’23	731	735	732	761	2,959
’22	513	743	677	630	2,564
’21	266	315	389	352	1,322
’20	265	249	295	306	1,116

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(613)	(652)	—	—	—
’25	(327)	121	253	(88)	(41)
’24	329	688	339	(577)	779
’23	(929)	(2,261)	(1,269)	(588)	(5,046)
’22	(904)	(763)	(1,031)	(3,284)	(5,982)
’21	(727)	(706)	(1,194)	(2,132)	(4,759)
’20	(85)	97	(316)	(612)	(917)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.33	0.37	—	—	—
’25	0.28	0.22	0.35	0.32	1.17
’24	0.16	0.29	0.30	0.23	0.98
’23	0.34	0.29	0.33	0.30	1.26
’22	0.34	0.37	0.35	0.36	1.42
’21	0.26	0.33	0.34	0.01	0.87
’20	0.44	0.31	0.07	0.33	1.14

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	48.91	51.21	45.78	59.68	36.82	55.23	55.50	45.04	50.65	50.71	Analyst estimates 2026–2028 Powerpack
	High	70.06	61.63	64.84	79.62	82.29	72.29	75.40	68.85	64.88	61.09
People
People	Employees	146	152	165	194	210	371	395	418	468	544
	Revenue/emp, $m	7.56	8.00	8.05	7.67	7.84	5.61	8.47	9.76	11.26	10.57
Income, $m
Income, $m	Revenue	1,103	1,216	1,328	1,488	1,647	2,080	3,344	4,079	5,271	5,749
	Gross margin, %	94.30	94.29	95.00	94.05	93.65	93.58	93.23	92.23	92.84	92.54
	EBT	320	325	370	444	411	392	918	929	934	1,155
	EBT margin, %	28.98	26.76	27.86	29.81	24.97	18.86	27.44	22.77	17.72	20.09
	Net income	316	319	365	437	397	361	872	877	867	1,070
	Depreciation	467	521	573	615	702	938	1,631	1,875	2,474	2,592
Per share, $
Per share, $	Revenue	4.33	4.45	4.59	4.71	4.77	5.02	5.47	5.89	6.11	6.34
	Earnings	1.13	1.10	1.26	1.38	1.15	0.87	1.42	1.26	0.98	1.17
	Cash flow	3.14	3.20	3.25	3.38	3.23	3.19	4.19	4.27	4.14	4.40
	Capex	(6.72)	(4.61)	(5.71)	(11.04)	(5.89)	(14.67)	(13.97)	(11.56)	(3.24)	(4.45)
	Free cash flow	(3.58)	(1.41)	(2.46)	(7.66)	(2.66)	(11.48)	(9.78)	(7.29)	0.90	(0.05)
	Book value	26.61	27.03	28.06	31.04	31.91	60.62	47.15	47.82	45.25	44.23
	Shares, m	255	273	289	316	345	415	612	692	863	907
Valuation, ×
Valuation, ×	P/E	49.74	49.42	48.48	51.33	52.38	76.16	44.62	46.48	53.95	48.18
	P/S	12.88	12.34	13.32	15.14	12.63	14.26	11.67	9.94	8.74	8.89
	P/B	2.22	2.03	2.18	2.30	1.89	1.18	1.35	1.22	1.18	1.27
	EV/Sales	18.17	17.36	18.20	20.42	17.48	21.56	17.04	15.16	13.64	13.26
	EV/FCF	(21.94)	(54.72)	(33.96)	(12.56)	(31.40)	(9.43)	(9.52)	(12.25)	92.28	(1,863.49)
Cash, $m
Cash, $m	Operating cash flow	800	876	941	1,069	1,116	1,322	2,564	2,959	3,573	3,995
	Capex	(1,713)	(1,262)	(1,652)	(3,487)	(2,032)	(6,082)	(8,546)	(8,005)	(2,794)	(4,036)
	Free cash flow	(913)	(386)	(712)	(2,418)	(917)	(4,759)	(5,982)	(5,046)	779	(41)
Balance, $m
Balance, $m	Working capital	(7)	17	22	59	869	334	315	205	563	427
	Total debt	5,840	6,111	6,500	7,902	8,817	15,443	18,111	21,520	26,227	28,795
	Net debt	5,830	6,105	6,490	7,848	7,993	15,184	17,940	21,287	25,782	28,360
	Shareholders’ equity	6,787	7,391	8,121	9,804	11,018	25,129	28,843	33,107	39,052	40,124
Returns, %
Returns, %	ROA	2.31	2.22	2.48	2.58	2.01	1.13	1.87	1.62	1.34	1.49
	ROIC	1.47	1.32	1.48	1.44	1.07	0.50	1.07	1.02	0.75	0.88
	ROE	4.60	4.38	4.69	4.87	3.80	1.99	3.22	2.82	2.35	2.67

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
SPG Simon Property Group, Inc.	$65.8B	14.5×	33.9×	+19.50% (above 0%: growing)	−12.35% (below 0%: shrinking)	−1.30% (below 0%: shrinking)	81.23%	46.02%	Compare
O Realty Income Corporation	$52.6B	40.9×	38.7×	+9.74% (above 0%: growing)	+68.18% (above 0%: growing)	−639.86% (below 0%: shrinking)	92.74%	23.09%
KIM Kimco Realty Corporation	$15.2B	27.0×	29.3×	+4.88% (above 0%: growing)	−4.35% (below 0%: shrinking)	+5.84% (above 0%: growing)	69.06%	35.61%	Compare
REG Regency Centers Corporation	$13.4B	24.8×	31.7×	+8.58% (above 0%: growing)	+8.93% (above 0%: growing)	+15.87% (above 0%: growing)	70.75%	37.28%	Compare
FRT Federal Realty Investment Trust	$9.2B	21.4×	31.8×	+7.76% (above 0%: growing)	−45.81% (below 0%: shrinking)	−1.70% (below 0%: shrinking)	69.15%	41.30%	Compare
BRX Brixmor Property Group Inc.	$8.4B	19.5×	26.3×	+4.33% (above 0%: growing)	−14.29% (below 0%: shrinking)	−41.05% (below 0%: shrinking)	75.01%	34.33%	Compare
ADC Agree Realty Corporation	$8.3B	36.0×	37.9×	+16.85% (above 0%: growing)	+2.33% (above 0%: growing)	−56.33% (below 0%: shrinking)	87.63%	46.47%	Compare
NNN NNN REIT, Inc.	$7.9B	20.4×	21.9×	+7.70% (above 0%: growing)	−3.70% (below 0%: shrinking)	−108.69% (below 0%: shrinking)	96.62%	61.97%	Compare
MAC Macerich Company (The)	$6.8B	— (loss-making)	— (loss-making)	−0.03% (below 0%: shrinking)	n/m	−57.87% (below 0%: shrinking)	53.67%	15.35%	Compare
Median of peers	$8.8B	21.4×	31.7×	+7.73%	−4.35%	−21.37%	72.88%	39.29%

All 26 Reit Retail stocks →

Realty Income Corporation (O) key facts

Strength: Realty Income Corporation’s revenue for fiscal 2025 (year ended December 2025) was $5.7 billion, up 9.07% from fiscal 2024.
Realty Income Corporation (O) is a Reit Retail company in the Real Estate sector, listed on the New York Stock Exchange.
As of October 16, 2026, O traded at $56.06, a market capitalization of $52.6 billion.
Realty Income Corporation pays an annual dividend of $3.25 per share, a yield of 5.79%.
Return on equity was 2.67% and debt-to-equity 0.73.
Its Piotroski F-score is 5 out of 9 for fiscal 2025.