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.
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Realty Income Corporation (O) Operating margin
Realty Income Corporation's operating margin over the twelve months to 30 June 2026 was 20.1%, up 3.4 percentage points from fiscal 2025 (16.8%). Over the past ten years it has ranged from 14.8% (fiscal 2024) to 27.4% (fiscal 2019); the current reading is higher than 27% of that period. That is below the Reit Retail industry median of 34.6% and above the Real Estate sector median of 18.8%.
Operating margin, annual
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Annual newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2025 | 16.8% | 1.93 |
| FY2024 | 14.8% | (7.00) |
| FY2023 | 21.8% | (2.21) |
| FY2022 | 24.0% | 8.43 |
| FY2021 | 15.6% | (4.17) |
| FY2020 | 19.8% | (7.63) |
| FY2019 | 27.4% | 1.41 |
| FY2018 | 26.0% | 2.60 |
| FY2017 | 23.4% | (3.59) |
| FY2016 | 27.0% | 1.02 |
Quarterly newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| Jun 2026 | 23.1% | 3.03 |
| Mar 2026 | 20.1% | 2.09 |
| Dec 2025 | 18.0% | (1.21) |
| Sep 2025 | 19.2% | 6.54 |
| 42 more quarters | Free account |
Against its own ten years
Operating margin against peers
| Company | Operating margin |
|---|---|
| NNN NNN REIT, Inc. compare | 62.3% |
| ADC Agree Realty Corporation compare | 47.9% |
| FRT Federal Realty Investment Trust compare | 47.9% |
| SPG Simon Property Group, Inc. compare | 47.4% |
| REG Regency Centers Corporation compare | 37.1% |
| KIM Kimco Realty Corporation compare | 36.1% |
| BRX Brixmor Property Group Inc. compare | 35.3% |
| O Realty Income Corporation | 20.1% |
| MAC Macerich Company (The) compare | 16.3% |
| Reit Retail industry median | 34.6% |
| Real Estate sector median | 18.8% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
More on O
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- The full statement