Realty Income financials
$55.35−0.34%
Close Sep 28, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 | FY17 Dec 31 | FY16 Dec 31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.44B | $5.04B | $3.96B | $3.30B | $2.06B | $1.64B | $1.48B | $1.32B | $1.21B | $1.10B |
| Gross profit | $5.01B | $4.67B | $3.64B | $3.07B | $1.93B | $1.53B | $1.40B | $1.26B | $1.14B | $1.04B |
| Gross margin | 92.1% | 92.5% | 92.0% | 93.1% | 93.5% | 93.6% | 94.0% | 95.0% | 94.3% | 94.3% |
| Operating income | $1.81B | $1.67B | $1.51B | $1.24B | $897.6M | $637.4M | $695.6M | $605.0M | $570.8M | $517.7M |
| Net income | $1.06B | $847.9M | $872.3M | $869.4M | $359.5M | $395.5M | $436.5M | $363.6M | $301.5M | $288.5M |
| Net margin | 19.5% | 16.8% | 22.0% | 26.3% | 17.4% | 24.1% | 29.4% | 27.5% | 24.9% | 26.2% |
| Diluted EPS | $1.17 | $0.98 | $1.26 | $1.42 | $0.87 | $1.14 | $1.38 | $1.26 | $1.10 | $1.13 |
| EBITDA | $4.81B | $4.49B | $3.50B | $2.93B | $1.83B | $1.46B | $1.33B | $1.17B | $1.08B | $988.3M |
| Operating cash flow | $3.99B | $3.57B | $2.96B | $2.56B | $1.32B | $1.12B | $1.07B | $940.7M | $876.0M | $799.9M |
| Free cash flow | -$784.9M | $189.4M | -$5.16B | -$6.42B | -$5.01B | -$1.18B | -$2.53B | -$853.9M | -$552.5M | -$1.01B |
| Diluted shares | 908.3M | 863.8M | 693.0M | 612.2M | 414.8M | 345.4M | 316.2M | 289.9M | 273.9M | 255.6M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $434.8M | $445.0M | $232.9M | $171.1M | $258.6M | $824.5M |
| Short-term investments | $0.00 | $0.00 | $0.00 | $0.00 | — | — |
| Total debt | $26.77B | $26.23B | $21.52B | $18.11B | $15.44B | $8.82B |
| Total assets | $72.80B | $68.84B | $57.78B | $49.67B | $43.14B | $20.74B |
| Total liabilities | $32.67B | $29.78B | $24.67B | $20.83B | $18.01B | $9.72B |
| Shareholders' equity | $40.12B | $39.05B | $33.11B | $28.84B | $25.13B | $11.02B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology