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Realty Income (O) Financials

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$57.37 -0.68 (-1.18%)
As of 12:19 PM Eastern
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Annual Income Statements for Realty Income

Annual Income Statements for Realty Income

This table shows Realty Income's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net Income / (Loss) Attributable to Common Shareholders
257 288 302 364 436 395 359 869 872 848
Consolidated Net Income / (Loss)
285 316 319 365 437 397 361 872 877 867
Net Income / (Loss) Continuing Operations
285 294 319 365 437 397 361 872 877 867
Total Pre-Tax Income
288 298 325 370 444 411 392 918 929 934
Total Operating Income
499 518 574 345 408 336 422 804 890 782
Total Gross Profit
1,023 1,103 1,216 1,328 1,488 1,647 2,080 3,344 4,079 5,271
Total Revenue
1,023 1,103 1,216 1,328 1,488 1,647 2,080 3,344 4,079 5,271
Operating Revenue
1,019 1,103 1,212 1,322 1,485 1,647 2,065 3,344 4,079 5,271
Total Cost of Revenue
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses
524 585 641 983 1,080 1,311 1,658 2,540 3,189 4,489
Selling, General & Admin Expense
49 52 58 84 66 73 97 138 145 177
Depreciation Expense
409 450 499 540 594 677 898 1,670 1,895 2,396
Other Operating Expenses / (Income)
55 63 69 332 380 414 457 692 1,047 1,395
Impairment Charge
11 21 15 26 40 147 39 26 87 426
Restructuring Charge
- - - - 0.00 0.00 167 14 14 96
Total Other Income / (Expense), net
-211 -220 -249 25 36 76 -30 114 39 152
Interest Expense
233 220 247 0.00 0.00 9.82 97 -0.37 0.00 0.00
Interest & Investment Income
- - - - 0.00 0.00 1.11 -6.45 2.55 7.79
Other Income / (Expense), net
22 - -1.53 25 36 85 66 120 36 144
Income Tax Expense
3.17 3.26 6.04 5.34 6.16 15 32 45 52 67
Preferred Stock Dividends Declared
27 27 17 - - - - 0.00 0.00 13
Net Income / (Loss) Attributable to Noncontrolling Interest
1.09 0.91 0.52 0.98 1.00 1.02 1.29 3.01 4.61 6.57
Basic Earnings per Share
$1.09 $1.13 $1.10 $1.26 $1.38 $1.15 $0.87 $1.42 $1.26 $0.98
Weighted Average Basic Shares Outstanding
235.77M 255.07M 273.47M 289.43M 315.84M 345.28M 414.54M 611.77M 692.30M 862.96M
Diluted Earnings per Share
$1.09 $1.13 $1.10 $1.26 $1.38 $1.14 $0.87 $1.42 $1.26 $0.98
Weighted Average Diluted Shares Outstanding
236.21M 255.62M 273.94M 289.92M 316.16M 345.42M 414.77M 612.18M 693.02M 863.79M
Weighted Average Basic & Diluted Shares Outstanding
250.54M 260.12M 284.25M 289.43M 315.84M 373.39M 591.32M 660.52M 861.12M 891.52M
Cash Dividends to Common per Share
- - $2.53 $2.63 $2.71 $2.79 $2.83 $2.97 $3.05 $3.13

Quarterly Income Statements for Realty Income

This table shows Realty Income's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Net Income / (Loss) Attributable to Common Shareholders
220 227 225 195 233 218 130 257 262 200
Consolidated Net Income / (Loss)
220 228 226 197 234 220 134 261 271 201
Net Income / (Loss) Continuing Operations
220 228 226 197 234 220 134 261 271 201
Total Pre-Tax Income
230 238 238 210 245 236 149 277 286 221
Total Operating Income
209 96 375 385 417 -287 366 490 489 -563
Total Gross Profit
837 889 944 1,019 1,039 1,076 1,260 1,339 1,331 1,340
Total Revenue
837 889 944 1,019 1,039 1,076 1,260 1,339 1,331 1,340
Operating Revenue
826 910 944 1,019 1,039 1,076 1,260 1,339 1,331 1,340
Total Operating Expenses
629 793 570 634 622 1,363 895 850 842 1,903
Selling, General & Admin Expense
34 38 34 37 36 38 41 45 42 49
Depreciation Expense
419 438 451 472 496 476 581 606 602 607
Other Operating Expenses / (Income)
170 307 69 95 71 812 89 100 92 1,113
Impairment Charge
1.65 9.48 13 30 17 27 89 96 97 143
Restructuring Charge
3.75 0.90 1.31 0.34 2.88 9.93 94 2.75 8.61 -9.18
Total Other Income / (Expense), net
22 142 -137 -175 -172 523 -216 -213 -203 784
Interest Expense
-0.24 -106 154 184 184 -522 241 247 261 -749
Interest & Investment Income
-0.66 -0.11 0.00 0.41 0.00 2.14 -1.68 2.03 5.09 2.35
Other Income / (Expense), net
22 36 17 8.29 12 -1.58 26 32 54 33
Income Tax Expense
10 9.38 12 13 11 16 16 16 15 20
Net Income / (Loss) Attributable to Noncontrolling Interest
0.72 1.07 1.11 1.74 0.40 1.36 1.62 1.58 1.64 1.74
Basic Earnings per Share
$0.36 $0.35 $0.34 $0.29 $0.33 $0.30 $0.16 $0.30 $0.30 $0.22
Weighted Average Basic Shares Outstanding
617.51M 611.77M 660.46M 674.11M 709.17M 692.30M 834.94M 870.32M 870.67M 862.96M
Diluted Earnings per Share
$0.36 $0.35 $0.34 $0.29 $0.33 $0.30 $0.16 $0.29 $0.30 $0.23
Weighted Average Diluted Shares Outstanding
617.96M 612.18M 661.24M 674.59M 709.54M 693.02M 835.24M 870.73M 872.05M 863.79M
Weighted Average Basic & Diluted Shares Outstanding
627.15M 660.52M 673.22M 708.79M 723.92M 861.12M 870.77M 870.87M 875.21M 891.52M

Annual Cash Flow Statements for Realty Income

This table details how cash moves in and out of Realty Income's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net Change in Cash & Equivalents
4.15 -35 -3.54 8.93 50 780 -518 -105 65 203
Net Cash From Operating Activities
694 800 876 941 1,069 1,116 1,322 2,564 2,959 3,573
Net Cash From Continuing Operating Activities
694 800 876 941 1,069 1,116 1,322 2,564 2,959 3,573
Net Income / (Loss) Continuing Operations
285 316 319 365 437 397 361 872 877 867
Consolidated Net Income / (Loss)
285 316 319 365 437 397 361 872 877 867
Depreciation Expense
409 450 499 540 594 677 898 1,670 1,895 2,396
Amortization Expense
1.56 5.49 8.69 6.25 7.39 7.99 -1.51 -61 -47 21
Non-Cash Adjustments To Reconcile Net Income
-6.86 -1.10 26 21 12 79 125 117 59 255
Changes in Operating Assets and Liabilities, net
4.79 29 23 9.06 18 -45 -60 -35 174 34
Net Cash From Investing Activities
-1,213 -1,701 -1,255 -1,640 -3,502 -2,032 -6,438 -8,387 -9,355 -3,343
Net Cash From Continuing Investing Activities
-1,213 -1,701 -1,255 -1,640 -3,502 -2,032 -6,438 -8,387 -9,355 -3,343
Purchase of Property, Plant & Equipment
-12 -13 -15 -25 -24 -8.71 -19 -96 -69 -121
Acquisitions
0.00 - -7.50 -0.20 0.00 0.00 -394 -5.67 -0.20 -0.23
Purchase of Investments
-1,267 -1,799 -1,413 -1,769 - -2,283 -6,313 -8,886 -9,233 -3,333
Sale of Property, Plant & Equipment
66 99 167 142 109 259 251 436 117 589
Divestitures
- - - - - 0.00 0.00 108 0.00 0.00
Sale and/or Maturity of Investments
0.00 13 0.12 5.27 0.00 0.00 38 7.27 3.93 57
Other Investing Activities, net
0.00 0.00 14 7.65 -3,587 0.00 0.00 49 -174 -535
Net Cash From Financing Activities
523 866 375 708 2,493 1,692 4,577 5,738 6,437 -21
Net Cash From Continuing Financing Activities
523 866 375 708 2,493 1,692 4,577 5,738 6,437 -21
Repayment of Debt
-1,792 -3,509 -3,399 -2,148 -2,465 -4,884 -9,385 -27,781 -79,502 -38,430
Repurchase of Preferred Equity
-6.75 0.00 -409 - - - - 0.00 0.00 -173
Payment of Dividends
-199 -650 -628 -754 -853 -957 -1,160 -1,806 -2,108 -2,698
Issuance of Debt
1,691 4,474 3,484 2,488 3,710 5,705 10,082 30,689 82,600 39,536
Issuance of Common Equity
794 384 705 0.00 845 1,824 4,443 4,556 5,439 1,743
Other Financing Activities, net
36 177 622 1,125 1,278 4.11 597 80 7.85 0.00
Effect of Exchange Rate Changes
- - 0.00 0.00 -9.80 4.43 20 -21 24 -5.90

Quarterly Cash Flow Statements for Realty Income

This table details how cash moves in and out of Realty Income's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Net Change in Cash & Equivalents
15 -62 17 71 116 -138 405 -222 -38 59
Net Cash From Operating Activities
677 630 731 735 732 761 779 981 841 972
Net Cash From Continuing Operating Activities
677 630 731 738 728 761 779 981 841 972
Net Income / (Loss) Continuing Operations
220 228 226 197 234 220 134 261 271 201
Consolidated Net Income / (Loss)
220 228 226 197 234 220 134 261 271 201
Depreciation Expense
419 438 451 472 496 476 581 606 602 607
Amortization Expense
-15 -15 -12 -12 -11 -11 1.55 5.95 6.29 6.87
Non-Cash Adjustments To Reconcile Net Income
-25 191 -15 19 8.70 46 65 68 -4.94 127
Changes in Operating Assets and Liabilities, net
77 -213 81 62 1.51 30 -3.28 40 -33 30
Net Cash From Investing Activities
-1,609 -3,858 -1,678 -2,969 -1,992 -2,716 -389 -645 -537 -1,772
Net Cash From Continuing Investing Activities
-1,609 -3,858 -1,678 -2,969 -1,992 -2,716 -389 -645 -537 -1,772
Purchase of Property, Plant & Equipment
-36 -29 -14 -16 -18 -22 -9.63 -42 -34 -36
Acquisitions
-15 23 0.00 -1.94 0.75 0.99 94 -94 -39 39
Purchase of Investments
-1,814 -3,906 0.00 -4,687 -2,015 -2,531 -574 -371 -724 -1,664
Sale of Property, Plant & Equipment
142 21 29 32 32 25 96 106 249 138
Sale and/or Maturity of Investments
6.52 - 0.00 3.93 - - 5.47 37 8.99 5.74
Other Investing Activities, net
- 33 -1,692 1,700 7.98 -190 0.02 -282 0.55 -254
Net Cash From Financing Activities
1,004 3,104 950 2,298 1,395 1,795 17 -561 -342 865
Net Cash From Continuing Financing Activities
1,004 3,104 951 2,296 1,395 1,795 17 -561 -342 865
Repayment of Debt
-9,509 -8,295 -5,714 -23,231 -6,020 -44,537 -9,149 -3,172 -14,544 -11,565
Payment of Dividends
-456 -469 -497 -513 -543 -555 -638 -684 -692 -683
Issuance of Debt
10,278 9,644 6,370 23,865 7,073 45,292 9,260 3,290 14,798 12,188
Issuance of Common Equity
691 2,152 796 2,180 873 1,589 544 -0.26 267 933
Other Financing Activities, net
- 72 -3.74 -5.54 11 5.66 0.00 6.17 2.65 -8.81

Annual Balance Sheets for Realty Income

This table presents Realty Income's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Total Assets
11,845 13,153 14,058 15,260 18,555 20,740 43,138 49,673 57,779 68,835
Total Current Assets
132 141 133 172 333 1,129 685 744 975 1,418
Cash & Equivalents
40 9.42 6.90 10 54 824 259 171 233 445
Accounts Receivable
82 105 120 145 182 286 427 543 711 878
Inventories, net
9.77 27 6.67 17 97 19 - 30 31 95
Plant, Property, & Equipment, net
10,609 11,877 12,670 13,827 16,400 17,466 31,959 37,752 43,514 50,914
Plant, Property & Equipment, gross
12,297 13,864 15,016 16,541 19,518 21,016 35,909 42,657 49,586 58,295
Accumulated Depreciation
1,688 1,987 2,347 2,715 3,118 3,549 3,950 4,904 6,072 7,381
Total Noncurrent Assets
1,105 1,135 1,255 1,262 1,822 2,145 10,493 11,177 13,290 16,503
Long-Term Investments
- - - - - 0.00 141 0.00 1,172 1,230
Goodwill
15 15 15 - - 14 3,677 3,731 3,731 4,932
Intangible Assets
1,034 1,082 1,195 1,200 1,493 1,711 5,275 5,168 5,018 6,323
Other Noncurrent Operating Assets
55 38 45 62 329 420 1,400 2,277 3,369 4,019
Total Liabilities & Shareholders' Equity
11,845 13,153 14,058 15,260 18,555 20,740 43,138 49,673 57,779 68,835
Total Liabilities
5,292 6,366 6,667 7,140 8,751 9,723 18,008 20,830 24,672 29,783
Total Current Liabilities
116 121 110 134 881 241 351 3,128 1,503 1,890
Short-Term Debt
- - - - 704 0.00 - 2,729 764 1,130
Accounts Payable
116 121 110 134 177 241 351 399 739 759
Total Noncurrent Liabilities
5,176 6,245 6,558 7,006 7,869 9,481 17,657 17,702 23,169 27,894
Long-Term Debt
4,175 1,439 555 6,500 7,197 8,817 15,443 15,382 20,756 25,097
Other Noncurrent Operating Liabilities
1,001 4,806 6,003 506 672 664 2,214 2,320 2,414 2,797
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
6,553 6,787 7,391 8,121 9,804 11,018 25,129 28,843 33,107 39,052
Total Preferred & Common Equity
6,532 6,767 7,372 8,089 9,774 10,985 25,053 28,713 32,941 38,841
Total Common Equity
6,136 6,371 7,372 8,089 9,774 10,985 25,053 28,713 32,941 38,841
Common Stock
7,666 8,229 9,624 10,754 12,874 14,700 29,578 34,160 39,630 47,451
Accumulated Other Comprehensive Income / (Loss)
- - 0.00 -8.10 -17 -55 4.93 47 74 38
Other Equity Adjustments
-1,530 -1,857 -2,253 -2,658 -3,082 -3,660 -4,531 -5,493 -6,762 -8,649
Noncontrolling Interest
22 20 19 32 30 32 77 130 166 211

Quarterly Balance Sheets for Realty Income

This table presents Realty Income's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Total Assets
45,892 49,673 51,101 53,981 55,337 57,779 68,328 68,061 68,469 68,835
Total Current Assets
735 744 782 892 1,042 975 1,548 1,422 1,293 1,418
Cash & Equivalents
188 171 165 254 344 233 680 443 397 445
Accounts Receivable
529 543 617 621 678 711 789 789 835 878
Inventories, net
18 30 - 17 20 31 78 191 60 95
Plant, Property, & Equipment, net
34,209 37,752 38,940 41,178 42,234 43,514 50,070 49,962 50,683 50,914
Plant, Property & Equipment, gross
38,834 42,657 44,128 46,664 48,015 49,586 56,463 56,656 57,749 58,295
Accumulated Depreciation
4,624 4,904 5,188 5,486 5,781 6,072 6,392 6,694 7,066 7,381
Total Noncurrent Assets
10,948 11,177 11,379 11,911 12,060 13,290 16,711 16,677 16,493 16,503
Long-Term Investments
0.00 0.00 - - - 1,172 1,203 1,220 1,225 1,230
Goodwill
3,731 3,731 3,731 3,731 3,731 3,731 4,991 4,931 4,932 4,932
Intangible Assets
5,064 5,168 5,257 5,238 5,089 5,018 7,037 6,730 6,600 6,323
Other Noncurrent Operating Assets
2,152 2,277 2,391 2,941 3,239 3,369 3,479 3,796 3,736 4,019
Total Liabilities & Shareholders' Equity
45,892 49,673 51,101 53,981 55,337 57,779 68,328 68,061 68,469 68,835
Total Liabilities
19,028 20,830 21,714 22,670 23,514 24,672 29,010 29,146 29,799 29,783
Total Current Liabilities
2,329 3,128 422 1,550 1,519 1,503 1,825 2,033 1,308 1,890
Short-Term Debt
1,920 2,729 - 990 858 764 1,023 1,149 428 1,130
Accounts Payable
408 399 422 559 660 739 803 884 880 759
Total Noncurrent Liabilities
16,700 17,702 21,292 21,120 21,995 23,169 27,185 27,114 28,491 27,894
Long-Term Debt
14,422 15,382 18,883 18,642 19,595 20,756 24,319 24,311 25,718 25,097
Other Noncurrent Operating Liabilities
2,278 2,320 2,408 2,478 2,400 2,414 2,866 2,803 2,773 2,797
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
26,864 28,843 29,387 31,311 31,823 33,107 39,151 38,747 38,670 39,052
Total Preferred & Common Equity
26,737 28,713 29,259 31,143 31,657 32,941 38,986 38,582 38,458 38,841
Total Common Equity
26,737 28,713 29,259 31,143 31,657 32,941 38,986 38,582 38,458 38,841
Common Stock
32,003 34,160 34,959 37,149 38,032 39,630 46,221 46,231 46,506 47,451
Accumulated Other Comprehensive Income / (Loss)
-25 47 73 96 42 74 65 75 103 38
Other Equity Adjustments
-5,241 -5,493 -5,773 -6,102 -6,417 -6,762 -7,300 -7,724 -8,151 -8,649
Noncontrolling Interest
127 130 128 168 166 166 165 165 212 211

Annual Metrics and Ratios for Realty Income

This table displays calculated financial ratios and metrics derived from Realty Income's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Growth Metrics
- - - - - - - - - -
Revenue Growth
9.62% 7.81% 10.21% 9.22% 12.07% 10.68% 26.31% 60.72% 21.99% 29.23%
EBITDA Growth
39.78% -47.78% 11.00% -15.21% 14.09% 5.84% 748.07% -20.62% 9.54% 20.46%
EBIT Growth
316.15% -0.65% 10.63% -35.41% 19.92% -5.10% 480.18% -33.94% 0.29% -0.03%
NOPAT Growth
108.21% -48.11% 10.07% -39.62% 18.21% -19.54% 159.60% 96.91% 10.02% -13.61%
Net Income Growth
4.75% 11.10% 0.90% 14.18% 19.99% -9.37% -9.02% 141.84% 0.52% -1.09%
EPS Growth
4.81% 3.67% -2.65% 14.55% 9.52% -17.39% -23.68% 63.22% -11.27% -22.22%
Operating Cash Flow Growth
10.49% 15.33% 9.50% 7.41% 13.63% 4.36% 18.52% 93.91% 15.40% 20.77%
Free Cash Flow Firm Growth
460.40% -87.07% -71.80% -852.55% 58.32% 60.76% -5,786.49% 156.32% -116.31% -72.47%
Invested Capital Growth
-45.00% -23.12% -3.38% 84.03% 20.81% 7.70% 111.31% -41.77% 13.76% 19.51%
Revenue Q/Q Growth
1.60% 2.24% 1.91% 2.46% 3.59% 1.19% 15.01% 6.48% 4.82% 5.27%
EBITDA Q/Q Growth
656.52% -58.92% 1.81% -19.75% 12.50% 15.98% 145.58% 7.19% -12.02% -2.69%
EBIT Q/Q Growth
8.16% -73.13% 1.44% -38.82% 28.08% 46.62% 154.18% 8.25% -31.20% -20.65%
NOPAT Q/Q Growth
111.37% -73.34% 0.73% -42.55% 25.97% 56.46% -15.21% 10.66% -30.59% -26.49%
Net Income Q/Q Growth
1.80% 3.13% -9.05% 7.16% 11.25% -2.80% -23.96% 34.52% -0.97% -2.08%
EPS Q/Q Growth
-0.91% 2.73% -10.57% 6.78% 6.98% -5.00% -30.40% 40.59% -3.82% -6.67%
Operating Cash Flow Q/Q Growth
5.00% 0.00% 1.58% 1.80% 3.92% 1.32% 3.64% 12.18% 4.60% 6.29%
Free Cash Flow Firm Q/Q Growth
3,807.40% -78.20% -90.10% -4,549.83% 62.31% 45.06% -1,626.86% 270.52% 27.32% 6.01%
Invested Capital Q/Q Growth
-49.60% -49.54% -4.90% 66.06% 9.51% 4.39% 261.95% 8.75% 2.48% 0.65%
Profitability Metrics
- - - - - - - - - -
Gross Margin
100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin
91.07% 88.22% 88.85% 68.98% 70.22% 67.15% 66.56% 75.76% 68.03% 63.41%
Operating Margin
48.75% 46.93% 47.24% 26.00% 27.41% 20.38% 20.28% 24.03% 21.83% 14.83%
EBIT Margin
50.92% 46.93% 47.11% 27.86% 29.81% 25.56% 23.48% 27.62% 22.71% 17.57%
Profit (Net Income) Margin
27.84% 28.69% 26.26% 27.46% 29.40% 24.07% 17.34% 26.09% 21.50% 16.45%
Tax Burden Percent
197.80% 106.29% 98.14% 98.56% 98.61% 0.00% 0.00% 95.08% 94.40% 92.87%
Interest Burden Percent
155.27% 57.51% 56.80% 100.00% 100.00% 195.34% 160.78% 99.34% 100.27% 100.84%
Effective Tax Rate
1.10% 1.10% 1.86% 1.44% 1.39% 3.57% 8.07% 4.92% 5.60% 7.13%
Return on Invested Capital (ROIC)
3.28% 5.42% 6.98% 3.02% 2.49% 1.77% 1.31% 1.20% 1.68% 1.24%
ROIC Less NNEP Spread (ROIC-NNEP)
-0.12% 3.51% -17.72% 3.71% 2.98% 2.69% 1.07% 1.65% 1.87% 1.88%
Return on Net Nonoperating Assets (RNNOA)
-0.12% 5.42% -2.47% 1.68% 2.39% 2.04% 0.68% 1.47% 1.15% 1.16%
Return on Equity (ROE)
0.00% 10.83% 4.50% 4.70% 4.88% 7.62% 3.99% 2.67% 2.83% 2.40%
Cash Return on Invested Capital (CROIC)
64.61% 31.56% 10.41% -56.15% -16.36% -5.65% -205.96% 54.00% -11.20% -16.53%
Operating Return on Assets (OROA)
4.56% 4.14% 4.21% 2.52% 2.62% 2.14% 1.53% 1.99% 1.72% 1.46%
Return on Assets (ROA)
2.49% 2.53% 2.35% 2.49% 2.59% 2.02% 1.13% 1.88% 1.63% 1.37%
Return on Common Equity (ROCE)
0.00% 10.16% 4.37% 4.69% 4.86% 3.80% 1.99% 2.66% 2.82% 2.39%
Return on Equity Simple (ROE_SIMPLE)
8.72% 4.68% 4.33% 4.51% 4.48% 7.22% 2.88% 3.04% 2.66% 2.23%
Net Operating Profit after Tax (NOPAT)
987 512 564 340 402 324 388 764 840 726
NOPAT Margin
48.21% 46.42% 46.36% 25.63% 27.03% 19.65% 18.65% 22.85% 20.61% 13.77%
Net Nonoperating Expense Percent (NNEP)
3.40% 1.90% 24.70% -0.69% -0.49% 2.95% 3.83% -0.45% -0.19% -0.63%
Return On Investment Capital (ROIC_SIMPLE)
4.60% 6.22% 7.09% 2.33% 2.27% 1.63% 0.96% 1.63% 1.54% 1.11%
Cost of Revenue to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue
4.82% 4.71% 4.81% 6.34% 4.47% 4.45% 4.66% 4.14% 3.54% 3.36%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
51.25% 53.07% 52.76% 74.00% 72.59% 79.62% 79.72% 75.97% 78.17% 85.17%
Earnings before Interest and Taxes (EBIT)
521 518 573 370 444 421 1,398 924 926 926
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
1,864 973 1,080 916 1,045 1,106 3,191 2,533 2,775 3,342
Valuation Ratios
- - - - - - - - - -
Price to Book Value (P/BV)
2.79 1.55 1.51 1.67 1.85 3.33 2.13 1.23 1.18 1.19
Price to Tangible Book Value (P/TBV)
3.36 1.87 1.81 1.96 2.19 1.86 3.31 1.78 1.61 1.67
Price to Revenue (P/Rev)
8.04 8.94 9.17 10.19 12.18 10.48 11.82 10.57 9.54 8.74
Price to Earnings (P/E)
32.04 34.20 36.96 37.22 41.52 43.63 148.36 40.64 44.63 54.34
Dividend Yield
13.83% 6.30% 6.41% 5.76% 4.89% 5.70% 9.36% 5.27% 5.69% 5.94%
Earnings Yield
3.12% 2.92% 2.71% 2.69% 2.41% 4.58% 3.28% 2.46% 2.24% 1.84%
Enterprise Value to Invested Capital (EV/IC)
1.20 1.43 1.48 1.37 1.47 1.33 0.99 1.14 1.11 1.11
Enterprise Value to Revenue (EV/Rev)
12.48 10.62 9.63 15.10 17.47 15.35 19.08 15.97 14.52 13.44
Enterprise Value to EBITDA (EV/EBITDA)
13.71 12.03 10.84 21.89 24.88 85.01 60.46 21.08 21.34 21.19
Enterprise Value to EBIT (EV/EBIT)
24.52 22.62 20.45 54.21 58.61 125.05 171.50 57.81 63.91 76.48
Enterprise Value to NOPAT (EV/NOPAT)
25.89 22.87 20.78 58.93 64.63 78.10 102.34 69.90 70.45 97.56
Enterprise Value to Operating Cash Flow (EV/OCF)
18.42 14.64 13.37 21.32 24.32 22.66 63.31 20.83 20.01 19.82
Enterprise Value to Free Cash Flow (EV/FCFF)
1.31 3.93 13.92 0.00 0.00 0.00 0.00 1.56 0.00 0.00
Leverage & Solvency
- - - - - - - - - -
Debt to Equity
0.64 0.21 0.08 0.80 0.81 0.80 0.61 0.63 0.65 0.67
Long-Term Debt to Equity
0.00 0.21 0.08 0.80 0.73 1.60 1.23 0.53 0.63 0.64
Financial Leverage
0.00 1.54 0.14 0.45 0.80 1.53 1.28 0.89 0.61 0.62
Leverage Ratio
0.00 1.87 1.92 1.89 1.89 3.77 3.53 1.72 1.73 1.75
Compound Leverage Factor
0.00 1.08 1.09 1.89 1.89 1.84 2.84 1.71 1.74 1.77
Debt to Total Capital
0.00% 17.49% 6.99% 44.46% 44.63% 44.45% 76.12% 38.57% 39.39% 40.18%
Short-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 3.98% 0.00% 3.82% 5.81% 1.40% 1.73%
Long-Term Debt to Total Capital
0.00% 17.49% 6.99% 44.46% 40.65% 44.45% 76.12% 32.76% 38.00% 38.45%
Preferred Equity to Total Capital
0.00% 4.81% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.25% 0.24% 0.22% 0.17% 0.16% 0.38% 0.28% 0.30% 0.32%
Common Equity to Total Capital
57.20% 77.45% 92.77% 55.32% 55.21% 55.38% 61.75% 61.15% 60.30% 59.50%
Debt to EBITDA
9.23 1.48 0.51 7.10 7.56 7.97 22.31 7.15 7.76 7.85
Net Debt to EBITDA
9.14 1.47 0.51 7.09 7.51 25.38 21.83 7.08 7.25 7.35
Long-Term Debt to EBITDA
9.23 1.48 0.51 7.10 6.89 7.97 22.30 6.07 7.48 7.51
Debt to NOPAT
17.43 2.81 0.99 19.10 19.64 55.85 79.61 23.71 25.60 36.12
Net Debt to NOPAT
17.27 2.79 0.97 19.07 19.51 24.69 77.91 23.48 23.93 33.81
Long-Term Debt to NOPAT
17.43 2.81 0.99 19.10 17.89 55.85 79.61 20.13 24.69 34.56
Altman Z-Score
0.00 1.15 1.23 1.31 1.37 2.65 0.91 1.09 1.06 1.04
Noncontrolling Interest Sharing Ratio
6.89% 6.24% 3.07% 0.33% 0.35% 0.30% 0.30% 0.38% 0.48% 0.52%
Liquidity Ratios
- - - - - - - - - -
Current Ratio
2.27 1.16 1.22 1.29 0.38 9.36 3.90 0.24 0.65 0.75
Quick Ratio
1.05 0.94 1.15 1.16 0.27 9.20 3.90 0.23 0.63 0.70
Cash Flow Metrics
- - - - - - - - - -
Free Cash Flow to Firm (FCFF)
23,078 2,983 841 -6,331 -2,639 -1,035 -60,946 34,326 -5,599 -9,656
Operating Cash Flow to CapEx
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense
41.75 13.56 3.40 0.00 0.00 -105.44 -627.16 0.00 0.00 0.00
Operating Cash Flow to Interest Expense
2.98 3.64 3.54 0.00 0.00 113.61 13.61 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense
3.21 4.03 4.15 0.00 0.00 139.15 15.99 0.00 0.00 0.00
Efficiency Ratios
- - - - - - - - - -
Asset Turnover
0.09 0.09 0.09 0.09 0.09 0.08 0.07 0.07 0.08 0.08
Accounts Receivable Turnover
14.01 11.85 10.85 10.04 9.10 7.04 5.84 6.89 6.51 6.64
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
0.10 0.10 0.10 0.10 0.10 0.10 0.08 0.10 0.10 0.11
Accounts Payable Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)
26.05 30.81 33.64 36.36 40.10 51.82 62.50 52.94 56.10 54.99
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)
26.05 30.81 33.64 36.36 40.10 51.82 62.50 52.94 56.10 54.99
Capital & Investment Metrics
- - - - - - - - - -
Invested Capital
10,688 8,217 7,939 14,611 17,652 19,011 80,345 46,783 53,222 63,604
Invested Capital Turnover
0.07 0.12 0.15 0.12 0.09 0.09 0.07 0.05 0.08 0.09
Increase / (Decrease) in Invested Capital
-8,743 -2,471 -278 6,671 3,041 1,359 122,669 -33,562 6,439 10,382
Enterprise Value (EV)
26,445 11,710 11,712 20,054 26,001 52,650 39,706 53,402 59,209 70,835
Market Capitalization
17,091 9,865 11,144 13,532 18,123 17,254 53,328 35,332 38,928 46,072
Book Value per Share
$50.75 $24.64 $26.16 $27.41 $29.99 $31.30 $61.98 $45.78 $45.50 $44.38
Tangible Book Value per Share
$46.55 $20.39 $21.87 $23.34 $25.41 $52.77 $39.83 $31.59 $33.42 $31.52
Total Capital
21,707 8,226 7,946 14,621 17,706 19,835 81,144 46,954 54,627 65,279
Total Debt
8,601 1,439 555 6,500 7,902 8,817 30,885 18,111 21,520 26,227
Total Long-Term Debt
8,601 1,439 555 6,500 7,197 8,817 30,885 15,382 20,756 25,097
Net Debt
8,520 1,430 548 6,490 7,848 7,993 15,043 17,940 20,115 24,552
Capital Expenditures (CapEx)
1,158 -86 -152 -117 -85 -251 -231 -341 -49 -468
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-49 10 17 28 102 63 182 174 3.48 213
Debt-free Net Working Capital (DFNWC)
32 19 24 38 156 888 699 345 236 658
Net Working Capital (NWC)
32 19 24 38 -549 888 668 -2,384 -528 -472
Net Nonoperating Expense (NNE)
417 196 244 -24 -35 -73 27 -108 -36 -141
Net Nonoperating Obligations (NNO)
19,129 1,430 548 6,490 7,848 7,993 30,086 17,940 20,115 24,552
Total Depreciation and Amortization (D&A)
411 455 507 546 601 685 896 1,609 1,848 2,416
Debt-free, Cash-free Net Working Capital to Revenue
-2.38% 0.91% 1.37% 2.09% 6.83% 3.85% 3.64% 5.19% 0.09% 4.05%
Debt-free Net Working Capital to Revenue
1.56% 1.76% 1.94% 2.88% 10.46% 53.90% 16.06% 10.31% 5.80% 12.49%
Net Working Capital to Revenue
1.56% 1.76% 1.94% 2.88% -36.87% 53.90% 16.06% -71.31% -12.94% -8.95%
Earnings Adjustments
- - - - - - - - - -
Adjusted Basic Earnings per Share
$1.09 $1.13 $1.10 $0.00 $1.38 $1.15 $0.87 $1.42 $1.26 $0.98
Adjusted Weighted Average Basic Shares Outstanding
235.77M 255.07M 273.47M 0.00 315.84M 345.28M 414.54M 611.77M 692.30M 862.96M
Adjusted Diluted Earnings per Share
$1.09 $1.13 $1.10 $0.00 $1.38 $1.14 $0.87 $1.42 $1.26 $0.98
Adjusted Weighted Average Diluted Shares Outstanding
236.21M 255.62M 273.94M 0.00 316.16M 345.42M 414.77M 612.18M 693.02M 863.79M
Adjusted Basic & Diluted Earnings per Share
$1.09 $1.13 $1.10 $0.00 $1.38 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
250.54M 260.12M 284.25M 0.00 333.63M 373.39M 591.32M 660.52M 861.12M 891.52M
Normalized Net Operating Profit after Tax (NOPAT)
1,008 532 578 366 442 466 578 802 936 1,211
Normalized NOPAT Margin
49.24% 48.27% 47.55% 27.58% 29.70% 28.27% 27.77% 23.98% 22.96% 22.97%
Pre Tax Income Margin
28.15% 26.99% 26.76% 27.86% 29.81% 24.97% 18.86% 27.44% 22.77% 17.72%
Debt Service Ratios
- - - - - - - - - -
EBIT to Interest Expense
2.24 2.35 2.32 0.00 0.00 42.88 5.03 0.00 0.00 0.00
NOPAT to Interest Expense
2.12 2.33 2.28 0.00 0.00 32.96 3.99 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense
2.47 2.74 2.93 0.00 0.00 68.42 7.41 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense
2.35 2.72 2.89 0.00 0.00 58.50 6.37 0.00 0.00 0.00
Payout Ratios
- - - - - - - - - -
Dividend Payout Ratio
69.85% 205.49% 196.54% 206.91% 195.09% 241.27% 321.42% 206.98% 240.39% 311.04%
Augmented Payout Ratio
69.85% 208.34% 196.54% 207.67% 199.92% 241.27% 321.42% 206.98% 240.39% 311.04%

Quarterly Metrics and Ratios for Realty Income

This table displays calculated financial ratios and metrics derived from Realty Income's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Growth Metrics
- - - - - - - - - -
Revenue Growth
70.91% 29.73% 16.98% 25.76% 24.11% 21.11% 33.47% 31.42% 28.08% 24.53%
EBITDA Growth
82.87% -52.23% -40.98% 33.61% 43.92% -68.27% 17.18% 32.74% 26.01% -52.40%
EBIT Growth
58.43% 115.37% -38.02% -19.90% 85.96% -319.65% -0.13% 32.52% 26.39% -83.49%
NOPAT Growth
55.94% 854.37% 23.16% 98.43% 99.59% -391.12% -7.97% 27.80% 16.27% -90.96%
Net Income Growth
62.84% 5,011.62% 13.08% -11.92% 6.17% -3.76% -40.78% 32.37% 15.93% -8.38%
EPS Growth
5.88% 683.33% 0.00% -21.62% -8.33% -14.29% -52.94% 0.00% -9.09% -23.33%
Operating Cash Flow Growth
74.02% 79.05% 42.41% -1.10% 8.15% 20.65% 6.49% 33.51% 14.96% 27.78%
Free Cash Flow Firm Growth
-434.36% 154.88% 172.19% 126.95% 58.70% -119.93% -120.06% -133.88% -26.79% -62.42%
Invested Capital Growth
93.80% -41.77% -59.66% -39.98% 20.72% 13.76% 30.49% 23.72% 21.68% 19.51%
Revenue Q/Q Growth
3.31% 6.14% 6.27% 7.92% 1.95% 3.58% 17.11% 6.26% -0.64% 0.71%
EBITDA Q/Q Growth
-0.63% -12.56% 49.78% 2.67% 7.04% -80.72% 453.17% 16.29% 1.61% -92.72%
EBIT Q/Q Growth
-53.01% -43.07% 198.42% 0.34% 9.10% -167.24% 235.68% 33.14% 4.05% -197.61%
NOPAT Q/Q Growth
9.46% -53.87% 287.00% 1.54% 10.10% -167.29% 222.34% 41.00% 0.17% -210.51%
Net Income Q/Q Growth
-1.58% 3.65% -0.97% -12.81% 18.63% -6.04% -39.07% 94.90% 3.89% -25.74%
EPS Q/Q Growth
-2.70% -2.78% -2.86% -14.71% 13.79% -9.09% -46.67% 81.25% 3.45% -23.33%
Operating Cash Flow Q/Q Growth
-8.92% -6.84% 15.98% 0.50% -0.39% 3.92% 2.37% 26.01% -14.24% 15.51%
Free Cash Flow Firm Q/Q Growth
83.71% 263.20% 112.43% -52.27% -124.96% 21.24% -113.84% 19.40% 6.59% -0.88%
Invested Capital Q/Q Growth
-49.06% 8.75% 2.83% 5.37% 2.45% 2.48% 17.95% -0.10% 0.77% 0.65%
Profitability Metrics
- - - - - - - - - -
Gross Margin
100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin
75.82% 62.46% 88.04% 83.75% 87.93% 16.36% 77.30% 84.59% 86.50% 6.25%
Operating Margin
24.92% 10.78% 39.69% 37.80% 40.16% -26.68% 29.01% 36.56% 36.74% -41.97%
EBIT Margin
27.57% 14.79% 41.53% 38.61% 41.32% -26.82% 31.07% 38.94% 40.77% -39.52%
Profit (Net Income) Margin
26.31% 25.69% 23.94% 19.34% 22.51% 20.42% 10.62% 19.48% 20.37% 15.02%
Tax Burden Percent
95.59% 96.05% 94.98% 93.84% 95.38% 93.29% 89.62% 94.35% 94.64% 90.92%
Interest Burden Percent
99.82% 180.87% 60.70% 53.38% 57.11% -81.60% 38.14% 53.04% 52.79% -41.81%
Effective Tax Rate
4.41% 3.95% 5.02% 6.16% 4.62% 6.71% 10.38% 5.65% 5.36% 9.08%
Return on Invested Capital (ROIC)
2.29% 0.54% 1.57% 1.94% 3.14% -2.03% 2.06% 2.87% 3.02% -3.44%
ROIC Less NNEP Spread (ROIC-NNEP)
2.46% 1.11% 1.27% 1.00% 2.23% 0.53% 1.14% 1.94% 2.17% -0.25%
Return on Net Nonoperating Assets (RNNOA)
1.53% 0.99% 2.00% 0.61% 1.38% 0.33% 0.70% 1.19% 1.37% -0.16%
Return on Equity (ROE)
3.82% 1.53% 3.57% 2.55% 4.52% -1.70% 2.76% 4.06% 4.40% -3.60%
Cash Return on Invested Capital (CROIC)
-61.73% 54.00% -7.24% 51.46% -16.23% -11.20% -24.98% -19.58% -17.85% -16.53%
Operating Return on Assets (OROA)
2.49% 1.07% 3.04% 2.88% 3.18% -2.04% 2.29% 3.01% 3.30% -3.29%
Return on Assets (ROA)
2.37% 1.85% 1.75% 1.44% 1.73% 1.55% 0.78% 1.51% 1.65% 1.25%
Return on Common Equity (ROCE)
3.81% 1.53% 3.56% 2.54% 4.50% -1.69% 2.74% 4.03% 4.37% -3.58%
Return on Equity Simple (ROE_SIMPLE)
2.43% 0.00% 3.07% 2.80% 2.80% 0.00% 2.01% 2.20% 2.30% 0.00%
Net Operating Profit after Tax (NOPAT)
199 92 356 362 398 -268 328 462 463 -511
NOPAT Margin
23.82% 10.35% 37.70% 35.47% 38.31% -24.89% 26.00% 34.50% 34.77% -38.16%
Net Nonoperating Expense Percent (NNEP)
-0.17% -0.57% 0.30% 0.93% 0.91% -2.56% 0.92% 0.93% 0.86% -3.19%
Return On Investment Capital (ROIC_SIMPLE)
0.46% 0.20% 0.74% 0.71% 0.76% -0.49% 0.51% 0.72% 0.71% -0.78%
Cost of Revenue to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue
4.07% 4.22% 3.62% 3.61% 3.42% 3.53% 3.24% 3.36% 3.15% 3.66%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
75.08% 89.22% 60.31% 62.20% 59.84% 126.68% 70.99% 63.44% 63.26% 141.97%
Earnings before Interest and Taxes (EBIT)
231 131 392 394 429 -289 392 522 543 -530
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
635 555 831 854 914 176 974 1,133 1,151 84
Valuation Ratios
- - - - - - - - - -
Price to Book Value (P/BV)
1.18 1.23 1.28 1.18 1.03 1.18 0.95 1.14 1.40 1.19
Price to Tangible Book Value (P/TBV)
1.76 1.78 1.85 1.65 1.43 1.61 1.38 1.64 2.00 1.67
Price to Revenue (P/Rev)
10.05 10.57 10.80 9.93 8.39 9.54 8.47 9.36 10.73 8.74
Price to Earnings (P/E)
48.82 40.64 41.99 42.24 37.07 44.63 47.89 52.63 61.99 54.34
Dividend Yield
5.78% 5.27% 5.25% 5.53% 6.59% 5.69% 5.97% 6.08% 5.03% 5.94%
Earnings Yield
2.05% 2.46% 2.38% 2.37% 2.70% 2.24% 2.09% 1.90% 1.61% 1.84%
Enterprise Value to Invested Capital (EV/IC)
1.11 1.14 1.17 1.11 1.02 1.11 0.97 1.09 1.24 1.11
Enterprise Value to Revenue (EV/Rev)
15.23 15.97 16.21 15.23 13.60 14.52 13.88 14.47 15.67 13.44
Enterprise Value to EBITDA (EV/EBITDA)
20.24 21.08 21.21 19.54 16.79 21.34 20.91 21.35 22.84 21.19
Enterprise Value to EBIT (EV/EBIT)
56.05 57.81 56.46 48.94 39.32 63.91 65.88 64.77 67.22 76.48
Enterprise Value to NOPAT (EV/NOPAT)
69.28 69.90 67.93 55.46 43.72 70.45 74.13 74.01 79.43 97.56
Enterprise Value to Operating Cash Flow (EV/OCF)
20.93 20.83 20.29 20.26 18.72 20.01 20.29 20.99 23.34 19.82
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 1.56 0.00 1.62 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency
- - - - - - - - - -
Debt to Equity
0.61 0.63 0.64 0.63 0.64 0.65 0.64 0.65 0.68 0.67
Long-Term Debt to Equity
0.54 0.53 0.64 0.60 0.62 0.63 0.62 0.62 0.67 0.64
Financial Leverage
0.62 0.89 1.58 0.61 0.62 0.61 0.61 0.61 0.63 0.62
Leverage Ratio
1.73 1.72 1.73 1.71 1.72 1.73 1.74 1.74 1.76 1.75
Compound Leverage Factor
1.73 3.11 1.05 0.92 0.99 -1.42 0.66 0.92 0.93 -0.73
Debt to Total Capital
37.82% 38.57% 39.12% 38.54% 39.12% 39.39% 39.19% 39.55% 40.34% 40.18%
Short-Term Debt to Total Capital
4.44% 5.81% 0.00% 1.94% 1.64% 1.40% 1.58% 1.78% 0.66% 1.73%
Long-Term Debt to Total Capital
33.38% 32.76% 39.12% 36.59% 37.48% 38.00% 37.61% 37.76% 39.68% 38.45%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.29% 0.28% 0.27% 0.33% 0.32% 0.30% 0.51% 0.52% 0.33% 0.32%
Common Equity to Total Capital
61.88% 61.15% 60.61% 61.13% 60.56% 60.30% 60.29% 59.93% 59.33% 59.50%
Debt to EBITDA
6.91 7.15 7.10 6.83 6.49 7.76 8.69 7.96 7.61 7.85
Net Debt to EBITDA
6.84 7.08 7.04 6.74 6.38 7.25 8.04 7.44 7.14 7.35
Long-Term Debt to EBITDA
6.10 6.07 7.10 6.48 6.21 7.48 8.34 7.60 7.49 7.51
Debt to NOPAT
23.67 23.71 22.73 19.38 16.89 25.60 30.80 27.61 26.47 36.12
Net Debt to NOPAT
23.40 23.48 22.53 19.13 16.61 23.93 28.51 25.80 24.83 33.81
Long-Term Debt to NOPAT
20.89 20.13 22.73 18.40 16.18 24.69 29.55 26.36 26.04 34.56
Altman Z-Score
1.04 1.04 1.14 1.05 0.92 0.99 0.85 0.99 1.18 0.97
Noncontrolling Interest Sharing Ratio
0.40% 0.38% 0.37% 0.42% 0.50% 0.48% 0.67% 0.71% 0.54% 0.52%
Liquidity Ratios
- - - - - - - - - -
Current Ratio
0.32 0.24 1.85 0.58 0.69 0.65 0.85 0.70 0.99 0.75
Quick Ratio
0.31 0.23 1.85 0.56 0.67 0.63 0.81 0.61 0.94 0.70
Cash Flow Metrics
- - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-20,621 33,654 71,492 34,122 -8,516 -6,707 -14,342 -11,560 -10,798 -10,893
Operating Cash Flow to CapEx
0.00% 7,841.92% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense
0.00 0.00 463.83 185.59 -46.25 0.00 -59.61 -46.81 -41.33 0.00
Operating Cash Flow to Interest Expense
0.00 0.00 4.74 4.00 3.98 0.00 3.24 3.97 3.22 0.00
Operating Cash Flow Less CapEx to Interest Expense
0.00 0.00 4.84 4.09 4.06 0.00 3.59 4.23 4.05 0.00
Efficiency Ratios
- - - - - - - - - -
Asset Turnover
0.09 0.07 0.07 0.07 0.08 0.08 0.07 0.08 0.08 0.08
Accounts Receivable Turnover
7.21 6.89 6.41 6.58 6.44 6.51 6.25 6.69 6.62 6.64
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
0.12 0.10 0.10 0.10 0.10 0.10 0.10 0.10 0.11 0.11
Accounts Payable Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)
50.62 52.94 56.92 55.45 56.64 56.10 58.41 54.54 55.17 54.99
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)
50.62 52.94 56.92 55.45 56.64 56.10 58.41 54.54 55.17 54.99
Capital & Investment Metrics
- - - - - - - - - -
Invested Capital
43,018 46,783 48,106 50,689 51,932 53,222 62,776 62,711 63,193 63,604
Invested Capital Turnover
0.10 0.05 0.04 0.05 0.08 0.08 0.08 0.08 0.09 0.09
Increase / (Decrease) in Invested Capital
20,820 -33,562 -71,136 -33,761 8,914 6,439 14,670 12,022 11,261 10,382
Enterprise Value (EV)
47,829 53,402 56,432 56,180 52,940 59,209 60,999 68,254 78,458 70,835
Market Capitalization
31,547 35,332 37,584 36,634 32,665 38,928 37,209 44,124 53,722 46,072
Book Value per Share
$43.29 $45.78 $44.30 $46.26 $44.66 $45.50 $46.69 $44.31 $44.16 $44.38
Tangible Book Value per Share
$29.05 $31.59 $30.69 $32.94 $32.22 $33.42 $32.29 $30.92 $30.92 $31.52
Total Capital
43,206 46,954 48,271 50,943 52,277 54,627 64,660 64,374 64,815 65,279
Total Debt
16,342 18,111 18,883 19,632 20,453 21,520 25,341 25,459 26,146 26,227
Total Long-Term Debt
14,422 15,382 18,883 18,642 19,595 20,756 24,319 24,311 25,718 25,097
Net Debt
16,154 17,940 18,719 19,378 20,109 20,115 23,458 23,797 24,524 24,552
Capital Expenditures (CapEx)
-106 8.04 -15 -16 -15 -3.00 -86 -64 -216 -102
Debt-free, Cash-free Net Working Capital (DFCFNWC)
139 174 195 79 38 3.48 65 95 16 213
Debt-free Net Working Capital (DFNWC)
327 345 360 332 382 236 745 538 413 658
Net Working Capital (NWC)
-1,593 -2,384 360 -658 -476 -528 -278 -611 -15 -472
Net Nonoperating Expense (NNE)
-21 -136 130 164 164 -488 194 201 192 -713
Net Nonoperating Obligations (NNO)
16,154 17,940 18,719 19,378 20,109 20,115 23,458 23,797 24,524 24,552
Total Depreciation and Amortization (D&A)
404 424 439 460 484 465 583 612 609 614
Debt-free, Cash-free Net Working Capital to Revenue
4.43% 5.19% 5.60% 2.13% 0.98% 0.09% 1.48% 2.02% 0.31% 4.05%
Debt-free Net Working Capital to Revenue
10.41% 10.31% 10.33% 9.00% 9.82% 5.80% 16.95% 11.41% 8.24% 12.49%
Net Working Capital to Revenue
-50.74% -71.31% 10.33% -17.83% -12.24% -12.94% -6.31% -12.95% -0.30% -8.95%
Earnings Adjustments
- - - - - - - - - -
Adjusted Basic Earnings per Share
$0.36 $0.35 $0.34 $0.29 $0.33 $0.30 $0.16 $0.30 $0.30 $0.22
Adjusted Weighted Average Basic Shares Outstanding
617.51M 611.77M 660.46M 674.11M 709.17M 692.30M 834.94M 870.32M 870.67M 862.96M
Adjusted Diluted Earnings per Share
$0.36 $0.35 $0.34 $0.29 $0.33 $0.30 $0.16 $0.29 $0.30 $0.23
Adjusted Weighted Average Diluted Shares Outstanding
617.96M 612.18M 661.24M 674.59M 709.54M 693.02M 835.24M 870.73M 872.05M 863.79M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
627.15M 660.52M 673.22M 708.79M 723.92M 861.12M 870.77M 870.87M 875.21M 891.52M
Normalized Net Operating Profit after Tax (NOPAT)
205 102 370 390 417 -233 492 556 563 -390
Normalized NOPAT Margin
24.44% 11.48% 39.16% 38.25% 40.11% -21.66% 39.05% 41.48% 42.28% -29.09%
Pre Tax Income Margin
27.52% 26.75% 25.21% 20.61% 23.60% 21.89% 11.85% 20.65% 21.53% 16.52%
Debt Service Ratios
- - - - - - - - - -
EBIT to Interest Expense
0.00 0.00 2.54 2.14 2.33 0.00 1.63 2.11 2.08 0.00
NOPAT to Interest Expense
0.00 0.00 2.31 1.97 2.16 0.00 1.36 1.87 1.77 0.00
EBIT Less CapEx to Interest Expense
0.00 0.00 2.64 2.23 2.41 0.00 1.99 2.37 2.90 0.00
NOPAT Less CapEx to Interest Expense
0.00 0.00 2.41 2.05 2.24 0.00 1.72 2.13 2.60 0.00
Payout Ratios
- - - - - - - - - -
Dividend Payout Ratio
262.94% 206.98% 207.73% 221.99% 228.34% 240.39% 286.61% 285.28% 290.14% 311.04%
Augmented Payout Ratio
262.94% 206.98% 207.73% 221.99% 228.34% 240.39% 286.61% 285.28% 290.14% 311.04%

Frequently Asked Questions About Realty Income's Financials

When does Realty Income's financial year end?

According to the most recent income statement we have on file, Realty Income's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Realty Income's net income changed over the last 9 years?

Realty Income's net income appears to be on an upward trend, with a most recent value of $867.34 million in 2024, rising from $284.86 million in 2015. The previous period was $876.91 million in 2023.

What is Realty Income's operating income?
Realty Income's total operating income in 2024 was $781.85 million, based on the following breakdown:
  • Total Gross Profit: $5.27 billion
  • Total Operating Expenses: $4.49 billion
How has Realty Income revenue changed over the last 9 years?

Over the last 9 years, Realty Income's total revenue changed from $1.02 billion in 2015 to $5.27 billion in 2024, a change of 415.1%.

How much debt does Realty Income have?

Realty Income's total liabilities were at $29.78 billion at the end of 2024, a 20.7% increase from 2023, and a 462.8% increase since 2015.

How much cash does Realty Income have?

In the past 9 years, Realty Income's cash and equivalents has ranged from $6.90 million in 2017 to $824.48 million in 2020, and is currently $444.96 million as of their latest financial filing in 2024.

How has Realty Income's book value per share changed over the last 9 years?

Over the last 9 years, Realty Income's book value per share changed from 50.75 in 2015 to 44.38 in 2024, a change of -12.6%.



This page (NYSE:O) was last updated on 4/24/2025 by MarketBeat.com Staff
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