Financials in USD. Standardized financial statements.
A compact view of how Realty Income Corporation turns revenue into operating income and net income.
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue? | $5.75B | $5.27B | $4.08B | $3.34B | $2.08B | $1.65B | $1.49B | $1.33B | $1.22B | $1.10B |
| Revenue Growth? | +9.1% | +29.2% | +22.0% | +60.7% | +26.3% | +10.7% | +12.1% | +9.2% | +10.2% | 0.0% |
| Cost of Revenue? | $586.44M | $377.68M | $316.96M | $226.33M | $133.60M | $104.60M | $88.58M | $66.33M | $69.48M | $62.87M |
| Gross Profit? | $5.16B | $4.89B | $3.76B | $3.12B | $1.95B | $1.54B | $1.40B | $1.26B | $1.15B | $1.04B |
| Gross Margin? | +89.8% | +92.8% | +92.2% | +93.2% | +93.6% | +93.6% | +94.0% | +95.0% | +94.3% | +94.3% |
| Operating Expenses? | $3.54B | $2.57B | $2.04B | $1.81B | $994.82M | $750.25M | $660.44M | $623.93M | $557.23M | $501.91M |
| Operating Income? | $1.63B | $2.32B | $1.72B | $1.31B | $952.04M | $792.23M | $739.13M | $637.58M | $589.05M | $538.40M |
| EBITDA? | $3.55B | $4.33B | $3.60B | $2.98B | $1.85B | $1.38B | $1.31B | $1.17B | $1.09B | $981.12M |
| Income Before Tax | $1.08B | $933.94M | $928.93M | $917.60M | $392.40M | $411.20M | $443.64M | $369.94M | $325.36M | $319.74M |
| Income Tax Expense | $20.00M | $66.60M | $52.02M | $45.18M | $31.66M | $14.69M | $6.16M | $5.34M | $6.04M | $3.26M |
| Net Income? | $1.06B | $860.77M | $872.31M | $869.41M | $359.46M | $395.49M | $436.48M | $363.61M | $318.80M | $315.57M |
| EPS? | $1.17 | $0.98 | $1.26 | $1.42 | $0.87 | $1.15 | $1.38 | $1.26 | $1.10 | $1.13 |
| Diluted EPS? | $1.17 | $0.98 | $1.26 | $1.42 | $0.87 | $1.14 | $1.38 | $1.26 | $1.10 | $1.13 |
Revenue, profitability, margins, EPS, and share-count trends over time.
Top-line demand and scale over time
Profit left after direct production costs
Core business profitability before financing and tax
Bottom-line profit after all expenses
Profit allocated to each diluted share
Share count trend that affects EPS quality
Gross, operating, and net margin quality