Realty Income Corporation

O Real Estate Reit Retail

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%
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

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 (above 35: high)
Fwd P/E 38.70 (above 35: high)
P/S ratio 8.63
P/B ratio 1.25
Past 5Y EPS Growth 0.52%
This Y EPS Growth 29.97% (at or above 15%: strong)
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

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.

Target Price Range

Analyst price targets

Recommendation Rating

2.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
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

Realty Income Corporation vs peers in Reit Retail (Q) = latest quarter vs a year earlier

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 →

O metrics, ten years each

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.

Source: company filings (standardised) and stockrow calculations.

Realty Income Corporation (O) Latest News

stockrow.com/O · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com