Company financials

Realty Income

Real Estate Retail REITs San Diego, California Last filing Feb 25, 2026 · FY2025

                    Revenue
                    FY2025
                
$5.7B
                    3y CAGR +19.8%
                    
                    P90
                    
                    +9.1%
                    
                    Net income
                    FY2025
                
$1.1B
                    Net margin +18.4%
                    
                    P43
                    
                    +23.0%
                    
                    Total assets
                    FY2025
                
$72.8B
                    ROA +1.5%
                    
                    P29
                    
                    +5.8%
                    
                    Operating cash flow
                    FY2025
                
$4.0B
                    FCF margin +67.2%
                    
                    P93
                    
                    +11.8%

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

23 accounts · 3 years

Total assets $72.8B

Total liabilities $32.7B

Shareholders equity $39.4B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	0.6%	0.6%	0.4%
Accounts Receivable	1.4%	1.3%	1.2%
Prepaid Expenses	0.1%	0.1%	0.1%
Other Current Assets	8.1%	5.8%	5.8%
Operating Lease Assets	0.8%	0.9%	1.0%
Goodwill	6.8%	7.2%	6.5%
Intangible Assets	7.9%	9.2%	8.7%
Other Noncurrent Assets	8.1%	5.8%	5.8%
Total Assets	100.0%	100.0%	100.0%
Liabilities
Current Portion of Long Term Debt	0.7%	0.1%	1.3%
Operating Lease Liabilities	0.6%	0.7%	0.7%
Other Current Liabilities	1.5%	1.3%	1.4%
Total Current Liabilities	44.9%	43.3%	42.7%
Long Term Debt	0.0%	0.0%	0.0%
Operating Lease Liabilities Noncurrent	0.6%	0.7%	0.7%
Other Noncurrent Liabilities	1.5%	1.3%	1.4%
Total Liabilities	44.9%	43.3%	42.7%
Equity
Preferred Stock	0.0%	0.0%	0.0%
Common Stock	4.4%	4.5%	4.9%
Accumulated Other Comprehensive Income	0.1%	0.1%	0.1%
Noncontrolling Interest	0.9%	0.3%	0.3%
Total Stockholders Equity	54.2%	56.4%	57.0%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

16 accounts · 3 years

Revenue $5.7B

Operating income $1.1B

Net income $1.1B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	7.9%	7.7%	7.1%
Expenses Cost of Revenue	6.6%	6.5%	5.5%
Expenses Selling,General and Administrative	0.3%	0.3%	0.3%
Expenses Depreciation and Amortization	3.5%	3.5%	3.3%
Expenses Share Based Compensation	0.0%	0.1%	0.0%
Expenses Operating Expenses	6.6%	6.5%	5.5%
Other Income Expense Operating Income	1.5%	1.3%	1.5%
Other Income Expense Other Income/expense	0.0%	0.0%	0.0%
Other Income Expense Income Before Tax	1.6%	1.4%	1.6%
Income Tax Income Tax Expense	0.1%	0.1%	0.1%
net Income net Income	1.5%	1.3%	1.5%
net Income Comprehensive Income	1.5%	1.2%	1.6%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	1.2%	1.3%	1.2%
Earnings Per Share Weighted Average Shares Diluted	1.2%	1.3%	1.2%

Cash Flow Statement

Operating, investing, and financing flows

18 accounts · 3 years

Operating cash flow $4.0B

Investing cash flow $-5.7B

Financing cash flow $1.7B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	1.5%	1.3%	1.5%
Operating Activities Depreciation and Amortization	3.5%	3.5%	3.3%
Operating Activities Stock Based Compensation	0.0%	0.1%	0.0%
Operating Activities Deferred Income Taxes	0.0%	0.0%	0.0%
Operating Activities net Cash From Operating Activities	5.5%	5.2%	5.1%
Investing Activities Capital Expenditures	0.2%	0.2%	0.1%
Investing Activities Other Investing Activities	0.0%	0.0%	0.0%
Investing Activities net Cash From Investing Activities	-7.8%	-4.9%	-16.2%
Financing Activities Proceeds From Debt	0.6%	0.0%	1.8%
Financing Activities Repayment of Debt	1.4%	1.2%	0.0%
Financing Activities Dividends Paid	4.0%	3.9%	3.7%
Financing Activities Proceeds From Stock Issuance	3.2%	2.5%	9.4%
Financing Activities Other Financing Activities	0.1%	-0.0%	-0.0%
Financing Activities net Cash From Financing Activities	2.3%	-0.0%	11.1%
Cash Reconciliation Effect of Exchange Rate On Cash	0.0%	-0.0%	0.0%
Cash Reconciliation net Change In Cash	0.0%	0.3%	0.1%
Cash Reconciliation Cash At Beginning of Period	0.7%	0.7%	0.5%
Cash Reconciliation Cash At End of Period	0.7%	0.7%	0.5%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+16.8%	+14.8%	+21.8%
Operating margin	+18.4%	+16.3%	+21.4%
Net margin	+18.4%	+16.3%	+21.4%
FCF margin	+67.2%	+65.5%	+70.9%
Growth
Revenue CAGR (3y)	+19.8%	+36.3%	+35.3%
Returns
ROE	+2.7%	+2.2%	+2.6%
ROA	+1.5%	+1.3%	+1.5%
ROIC	+2.5%	+2.1%	+2.5%
Liquidity
Current ratio	—	—	—
Quick ratio	0.05x	0.04x	0.04x
Leverage
D/E	0.83x	0.77x	0.75x
Interest coverage	—	—	1.19x
Efficiency
Asset turnover	0.08x	0.08x	0.07x
Cash conversion cycle	—	—	—

Valuation

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FY2025 fundamentals · no price

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Realty Income

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