ES
MARKETS / NYSE / O
NYSE · REAL ESTATE INVESTMENT TRUSTS · LARGE CAP

Realty Income Corp. O

18 fiscal years on record · USD · FY2025 reported
SEC FILINGS ONLY4 YEARS OF DIVIDEND GROWTH
Revenue · FY2025
$5.7B
▲ 9.1% vs FY2024
Dividend streak
4 yrs
Raised every year since 2022
EPS · FY25
$1.17
Dividend / sh · FY25
$3.22
Payout · FY25
276%
ROE · FY25
2.7%
Net margin · FY25
18.4%
Dividend coverage
0.4×
Advertisement
AdSense · Leaderboard 728×90320×100
Result
USD 5.7B
Revenue, FY2025 · full 18-year series below
Revenue Net income
2465.71.12008201120142017202020232025
2465.71.12016201920222025

18 cents of every revenue dollar became profit this year.

Per share
USD 1.17
Diluted EPS, FY2025
EPS Dividend
243.221.172008201120142017202020232025
243.221.172016201920222025

Earnings covered only a fraction of the dividend — the rest came from cash or borrowing.

Profitability
2.7%
Return on equity, FY2025
ROE
2.557.5102.7%2008201120142017202020232025
2.557.5102.7%2016201920222025
Operating margin20.1%
Net margin18.4%
Return on assets1.5%

Each USD of equity produced 3 cents of profit this year.

Returned to shareholders
USD 2.9B
returned in FY2025 · dividends + net buybacks
Dividends paidUSD 2.9B
Net buybacks—
Share of profit275.9%
Consecutive raises4 years

USD 2.9B in dividends — 276% of the year's profit, so the payout drew on cash built up earlier.

Growth
+28.4% a year
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs
Revenue
+19.8%
+28.4%
+20.7%
Net income
+6.8%
+21.8%
+14.1%
+15.0%
EPS, diluted
−6.3%
Dividend / share
+2.7%
Returned to shareholders
+17.2%
+24.8%
+18.5%
+20.3%

Compound annual rates per period — left blank where the series crosses a loss.

Share base
0.93B
Shares outstanding, FY2025
0.100.932008201120142017202020232025
0.260.932016201920222025
Change, 5 years+44.3%
Change, 10 years—

The share count grew 44% in five years — the same company, cut into more, smaller slices.

Advertisement
AdSense · Leaderboard 728×90300×250
Balance sheet
USD 72.8B
total assets, end of FY2025
Total assetsUSD 72.8B
EquityUSD 39.4B
CashUSD 434.8M
Gross debtUSD 25.0B
Net debtUSD 24.6B

Net debt stands at 62% of equity.

History
18 fiscal years
Every figure from documents filed with the SEC · USD
Metric
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
Revenue $B
5.7
5.3
4.1
3.3
2.1
1.6
1.5
1.3
1.2
1.1
·
·
·
·
0.4
0.3
0.3
0.3
Operating income $B
1.2
0.9
0.9
0.9
0.4
0.4
0.4
·
·
·
·
·
·
·
·
·
·
·
EBITDA $B
3.7
3.3
2.8
2.6
1.3
1.1
1.0
·
·
·
·
·
·
·
·
·
·
·
Income tax $B
0.1
0.1
0.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Net income $B
1.1
0.9
0.9
0.9
0.4
0.4
0.4
0.4
0.3
0.3
0.3
0.3
0.2
0.2
0.2
0.1
0.1
0.1
EPS, diluted $
1.17
0.98
1.26
1.42
0.87
1.14
1.38
1.26
1.10
1.13
1.09
1.04
1.06
0.86
1.05
1.01
·
·
Dividend / sh $
3.22
3.13
3.05
2.97
2.83
2.79
2.71
2.63
2.53
·
·
·
·
·
·
·
·
·
Payout %
276
313
242
209
325
244
195
209
216
193
188
177
167
149
140
140
136
129
ROE %
2.7
2.4
2.8
3.2
2.0
3.8
4.9
4.7
4.5
4.7
4.7
4.9
6.3
6.8
7.7
7.8
8.6
8.5
Shares out B
0.93
0.89
0.75
0.66
0.59
0.36
0.33
0.30
0.28
0.26
0.25
0.22
0.21
0.13
0.13
0.12
0.10
·

Slide the table for earlier years · "·" marks figures not disclosed in the filing for that year.

How we verifyAUDITED
33 of 33
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity

Every figure was compared against the original statement: 0 failures and 0 presentation gaps.

What we don’t show

We’d rather say what’s missing than fill the gap with an estimate.

P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed