Realty Income
O stock analysis · Real Estate · Retail REITs
As of · fund-implied per-share value
Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.
View SEC fund filing ↗Price × SEC outstanding shares. Shares measured 2026-06-30. Approximate; share and price dates can differ.
View share-count filing ↗DCF value
Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.
How this is calculated ↗Reverse DCF
Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.
How this is calculated ↗Relative valuation
26 sector peers · median 35.0×
How this is calculated ↗Historical multiples
7 annual observations · snapshot P/E 55.4× · 0.0% versus history
How this is calculated ↗Free cash flow yield
Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.
How this is calculated ↗ROIC / quality
Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.
How this is calculated ↗Value composite
Requires three valuation yields and at least five covered sector peers.
How this is calculated ↗12–1 price momentum
Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.
How this is calculated ↗Asset growth
Annual basis · read assumptions below
How this is calculated ↗Net payout yield
Requires reported dividends, repurchases and issuance; missing values are not zero.
How this is calculated ↗Accrual quality
Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.
How this is calculated ↗Fundamental momentum
Requires two adjacent years of revenue, operating income and cash flow.
How this is calculated ↗Follow the cash
ANNUAL · USDOperating cash flow and reinvestment over time
Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.
Make the assumptions yours
How sensitive is the valuation?
| Return / Growth | 3.0% | 5.0% | 7.0% |
|---|---|---|---|
| 8.0% | — | — | — |
| 10.0% | — | — | — |
| 12.0% | — | — | — |
Annual financial history
Open SEC filings ↗| Fiscal year-end | Revenue | Net income | Operating cash flow | Capital expenditure | Assets |
|---|---|---|---|---|---|
| 2025-12-31 | 5.7B | 1.1B | 4B | 131.8M | 72.8B |
| 2024-12-31 | 5.3B | 867.3M | 3.6B | 121.4M | 68.8B |
| 2023-12-31 | 4.1B | 876.9M | 3B | 68.7M | 57.8B |
| 2022-12-31 | 3.3B | 872.4M | 2.6B | 95.5M | 49.7B |
| 2021-12-31 | 2.1B | 360.7M | 1.3B | 19.1M | 43.1B |
| 2020-12-31 | 1.6B | 396.5M | 1.1B | 8.7M | 20.7B |
| 2019-12-31 | 1.5B | 437.5M | 1.1B | 23.5M | 18.6B |
| 2018-12-31 | 1.3B | 364.6M | 940.7M | 25.4M | 15.3B |
USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.
Trace the inputs
MODEL ANNUAL PERIOD| Input | Value | SEC tag / source | Filed |
|---|---|---|---|
| revenue | 5.7B | Revenues | 2026-02-25 |
| netIncome | 1.1B | ProfitLoss Explicit consolidated amount, including the portion attributable to noncontrolling interests. | 2026-02-25 |
| Parent/common earnings proxy | 1.1B | NetIncomeLossAvailableToCommonStockholdersBasic | 2026-02-25 |
| cfo | 4B | NetCashProvidedByUsedInOperatingActivities | 2026-02-25 |
| capex | 131.8M | PaymentsForCapitalImprovements | 2026-02-25 |
| operatingIncome | — | Not reported under a supported tag | — |
| assets | 72.8B | Assets | 2026-02-25 |
| equity | 40.1B | StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest Explicit consolidated amount, including the portion attributable to noncontrolling interests. | 2026-02-25 |
| Parent book equity proxy | 39.4B | StockholdersEquity | 2026-02-25 |
| debt | — | Not reported under a supported tag | — |
| shortDebt | — | Not reported under a supported tag | — |
| cash | 434.8M | CashAndCashEquivalentsAtCarryingValue | 2026-02-25 |
| shares | 908.3M | WeightedAverageNumberOfDilutedSharesOutstanding | 2026-02-25 |
| dividends | 2.9B | PaymentsOfDividendsCommonStock | 2026-02-25 |
| buybacks | — | Not reported under a supported tag | — |
| issuance | 2.4B | ProceedsFromIssuanceOfCommonStock | 2026-02-25 |