Realty Income Corporation (O) Financial Statements

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Realty Income financial statements at a glance

Realty Income reported revenue of $5.75 billion for fiscal year 2025 (ended December 31, 2025), up 9.1% from fiscal year 2024. Net income was $1.06 billion, a net margin of 18.4%, and diluted earnings per share were $1.17.

At the end of fiscal year 2025 it had total assets of $72.80 billion, total liabilities of $32.67 billion and shareholders' equity of $39.44 billion, with cash and short-term investments of $434.84 million and total debt of $29.35 billion.

Its operations brought in $3.99 billion of cash, leaving free cash flow of $3.99 billion.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in USD; latest fiscal year ended December 31, 2025.

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Realty Income Corporation

OUnited States
Financial Services
USD (Local)

Income Statement

Annual • USD

Total Revenue
5.75B
Prev Year: 5.27B
YoY: +9.1%
Operating Revenue
5.44B
Prev Year: 5.04B
YoY: +7.8%
Weighted Average Shares (diluted)
911.01M
Weighted Average Shares (basic)
907.17M
Diluted EPS
1.17
Basic EPS
1.17
Other Non-operating Income (expense)
29.42M
Prev Year: 23.61M
YoY: +24.6%
Write-offs
471.33M
Prev Year: 425.83M
YoY: +10.7%
Total Other Finance Cost
35.70M
Prev Year: 29.34M
YoY: +21.7%
Cost of Revenue
428.80M
Prev Year: 377.68M
YoY: +13.5%
Gross Profit
5.32B
Prev Year: 4.89B
YoY: +8.7%
Operating Expense
2.73B
Prev Year: 2.57B
YoY: +6.0%
Selling General and Administrative
202.55M
Prev Year: 176.90M
YoY: +14.5%
General and Administrative Expense
202.55M
Prev Year: 176.90M
YoY: +14.5%
Other General and Administrative
202.55M
Prev Year: 176.90M
YoY: +14.5%
Depreciation Amortization Depletion
2.52B
Prev Year: 2.40B
YoY: +5.4%
Depreciation and amortization
2.52B
Prev Year: 2.40B
YoY: +5.4%
Operating Income
2.59B
Prev Year: 2.32B
YoY: +11.8%
Net Non Operating Interest Income Expense
-1.14B
Prev Year: -1.02B
YoY: -11.5%
Non-operating Interest Expense
1.11B
Prev Year: 998.10M
YoY: +10.9%
Non-operating Interest Income
-
Prev Year: 3.31M
Other Income Expense
-296.49M
Prev Year: -362.85M
YoY: +18.3%
Gain on Sale of Securities
156.31M
Prev Year: 127.88M
YoY: +22.2%
Equity in Earnings of Affiliates
13.33M
Prev Year: 7.79M
YoY: +71.1%
Special Income Charges
-495.55M
Prev Year: -522.13M
YoY: +5.1%
Restructuring and Mergers Acquisition
24.21M
Prev Year: 96.29M
YoY: -74.9%
Pre-tax Income
1.16B
Prev Year: 933.94M
YoY: +23.7%
Provision for Income Taxes
85.35M
Prev Year: 66.60M
YoY: +28.1%
Net Income Common Stockholders
1.06B
Prev Year: 847.89M
YoY: +24.8%
Net Income
1.06B
Prev Year: 860.77M
YoY: +23.0%
Net Income Including Non-Controlling Interests
1.07B
Prev Year: 867.34M
YoY: +23.3%
Net Income from Continuing Operations
1.07B
Prev Year: 867.34M
YoY: +23.3%
Noncontrolling Interests
-11.19M
Prev Year: -6.57M
YoY: -70.4%
Diluted NI Available to Com Stockholders
1.06B
Prev Year: 847.89M
YoY: +24.8%
Total Expenses
3.16B
Prev Year: 2.95B
YoY: +7.0%
Net Income from Continuing and Discontinued Operation
1.06B
Prev Year: 860.77M
YoY: +23.0%
Normalized Income
1.37B
Prev Year: 1.23B
YoY: +11.9%
Interest Expense
1.11B
Prev Year: 998.10M
YoY: +10.9%
Interest Income
-
Prev Year: 3.31M
Net Interest Income
-1.14B
Prev Year: -1.02B
YoY: -11.5%
EBIT
2.26B
Prev Year: 1.93B
YoY: +17.1%
EBITDA
4.79B
Prev Year: 4.33B
YoY: +10.6%
Reconciled Cost of Revenue
428.80M
Prev Year: 377.68M
YoY: +13.5%
Reconciled Depreciation
2.52B
Prev Year: 2.40B
YoY: +5.4%
Net Income from Continuing Operation Net Minority Interest
1.06B
Prev Year: 860.77M
YoY: +23.0%
Total Unusual Items Excluding Goodwill
-339.24M
Prev Year: -394.25M
YoY: +14.0%
Total Unusual Items
-339.24M
Prev Year: -394.25M
YoY: +14.0%
Normalized EBITDA
5.13B
Prev Year: 4.72B
YoY: +8.5%
Tax Rate for Calcs
0.074
Prev Year: 0
Tax Effect of Unusual Items
-25.10M
Prev Year: -28.11M
YoY: +10.7%
Values in USD

Realty Income key figures by fiscal year

FY2025FY2024FY2023FY2022FY2021
Revenue$5.7B$5.3B$4.1B$3.3B$2.1B
Gross profit$5.3B$4.9B$3.8B$3.1B$1.9B
Operating income$2.6B$2.3B$1.7B$1.3B$952.0M
Net income$1.1B$847.9M$872.3M$869.4M$359.5M
Diluted EPS$1.17–$1.26$1.42$0.87
Total assets$72.8B$68.8B$57.8B$49.7B$43.1B
Total liabilities$32.7B$29.8B$24.7B$20.8B$18.0B
Shareholders' equity$39.4B$38.8B$32.9B$28.7B$25.1B
Cash and short-term investments$434.8M$445.0M$232.9M$171.1M$258.6M
Total debt$29.3B$26.8B$22.0B$18.6B$15.9B
Operating cash flow$4.0B$3.6B$3.0B$2.6B$1.3B
Free cash flow$4.0B$3.6B$3.0B$2.6B$1.3B

In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2014.

Questions and answers

What was Realty Income's revenue in fiscal year 2025?

$5.75 billion, up 9.1% from $5.27 billion in fiscal year 2024.

How much profit does Realty Income make?

Realty Income reported net income of $1.06 billion for fiscal year 2025 (18.4% of revenue); operating income was $2.59 billion.

How much cash and debt does Realty Income have?

At the end of fiscal year 2025: cash and short-term investments of $434.84 million and total debt of $29.35 billion.

What is Realty Income's free cash flow?

$3.99 billion in fiscal year 2025 (operating cash flow of $3.99 billion).

MoreRealty Income stock overviewRealty Income executive teamRealty Income shareholdersRealty Income revenue by segment
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Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.
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