Cash flow Realty Income Corporation

Equities

O

US7561091049

Commercial REITs

Market Closed - Nyse Other stock markets 21:00:02 13/02/2026 GMT			5-day change	1st Jan Change
65.66 ^USD	+1.36%		+3.84%	+16.48%

01-30	Scotiabank Upgrades Realty Income to Sector Outperform From Sector Perform, Adjusts Price Target to $67 From $60	MT
01-23	Baird Adjusts Price Target on Realty Income to $61 From $59, Maintains Neutral Rating	MT

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Published financial data: REALTY INCOME CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Rental Revenues	1.64B	2.06B	3.3B	3.96B	5.04B
Tenant Reimbursements	-	-	-	-	-
Interest and Investment Income, Total (Revenue Block)	-	-	-	-	224M
Other Revenues, Total	12.09M	16.61M	37.58M	123M	10.79M
Total Revenues	1.65B	2.08B	3.34B	4.08B	5.28B
Property Expenses	105M	134M	226M	317M	378M
Selling General & Admin Expenses, Total	69.75M	96.98M	138M	145M	177M
Depreciation & Amortization - (IS) - (Collected)	677M	898M	1.67B	1.9B	2.4B
Total Operating Expenses	851M	1.13B	2.04B	2.36B	2.95B
Operating Income (REIT / Utility Template)	800M	953M	1.3B	1.72B	2.33B
Interest Expense, Total	-309M	-324M	-465M	-730M	-1.02B
Net Interest Expenses	-309M	-324M	-465M	-730M	-1.02B
Currency Exchange Gains (Loss)	4.58M	710K	-13.31M	-13.41M	3.42M
Other Non Operating Income (Expenses)	-	9.95M	30.51M	23.79M	23.61M
EBT, Excl. Unusual Items	495M	640M	854M	1B	1.34B
Total Merger & Related Restructuring Charges	-	-167M	-13.9M	-14.46M	-96.29M
Gain (Loss) on Sale of Assets	76.23M	55.8M	103M	25.67M	117M
Asset Writedown	-147M	-38.97M	-25.86M	-87.08M	-426M
Other Unusual Items	-13.28M	-97.18M	367K	-	-
EBT, Incl. Unusual Items	411M	392M	918M	929M	934M
Income Tax Expense	14.69M	31.66M	45.18M	52.02M	66.6M
Earnings From Continuing Operations	397M	361M	872M	877M	867M
Net Income to Company	397M	361M	872M	877M	867M
Minority Interest	-1.02M	-1.29M	-3.01M	-4.6M	-6.57M
Net Income - (IS)	395M	359M	869M	872M	861M
Preferred Dividend and Other Adjustments	-	-	-	-	12.88M
Net Income to Common Incl Extra Items	395M	359M	869M	872M	848M
Net Income to Common Excl. Extra Items	395M	359M	869M	872M	848M
Per Share Items
Net EPS - Basic	1.15	0.87	1.42	1.26	0.98
Basic EPS - Continuing Operations	1.15	0.87	1.42	1.26	0.98
Basic Weighted Average Shares Outstanding	345M	415M	612M	692M	863M
Net EPS - Diluted	1.14	0.87	1.42	1.26	0.98
Diluted EPS - Continuing Operations	1.14	0.87	1.42	1.26	0.98
Diluted Weighted Average Shares Outstanding	345M	415M	612M	693M	864M
Normalized Basic EPS	0.89	0.96	0.87	0.9	0.96
Normalized Diluted EPS	0.89	0.96	0.87	0.9	0.96
Dividend Per Share	2.8	2.84	2.97	3.06	3.13
Payout Ratio	243.79	325.22	208.58	242.09	313.61
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	1.51B	1.91B	2.97B	3.62B	4.76B
EBITA	966M	1.26B	1.94B	2.38B	3.23B
EBIT	800M	953M	1.3B	1.72B	2.33B
Total Revenues (As Reported)	1.65B	2.08B	3.34B	4.08B	5.27B
Effective Tax Rate - (Ratio)	3.57	8.07	4.92	5.6	7.13
Normalized Net Income	309M	399M	531M	623M	830M
Interest Capitalized	-	1.93M	2.79M	10.81M	22.4M
Interest on Long-Term Debt	308M	16.14M	15.61M	28.18M	25.96M
Supplemental Operating Expense Items
General and Administrative Expenses	69.75M	96.98M	138M	145M	177M
Stock-Based Comp., G&A Exp. (Total)	16.5M	16.23M	21.62M	26.23M	57.49M
Stock-Based Comp., Other (Total)	-	25.54M	-	-	-
Total Stock-Based Compensation	16.5M	41.77M	21.62M	26.23M	57.49M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Gross Property Plant And Equipment	21.25B	36.77B	43.74B	50.9B	59.58B
Accumulated Depreciation	-3.55B	-3.95B	-4.9B	-6.07B	-7.38B
Net Property Plant And Equipment	17.71B	32.82B	38.84B	44.83B	52.2B
Total Real Estate Assets	17.71B	32.82B	38.84B	44.83B	52.2B
Cash And Equivalents	824M	259M	171M	233M	445M
Accounts Receivable, Total	286M	434M	574M	717M	884M
Other Receivables	132M	346M	1B	1.7B	1.71B
Goodwill	14.18M	3.68B	3.73B	3.73B	4.93B
Other Intangibles, Total	1.71B	5.28B	5.17B	5.02B	6.32B
Notes Receivable (Collected)	-	4.46M	-	205M	828M
Other Current Assets, Total	58M	158M	135M	127M	219M
Deferred Charges Long-Term	7.7M	4.35M	17.2M	12.26M	7.33M
Other Long-Term Assets, Total	1.75M	160M	39.94M	1.21B	1.29B
Total Assets	20.74B	43.14B	49.67B	57.78B	68.84B
Liabilities
Current Portion of Long-Term Debt	44.2M	271M	22M	740M	1.89B
Current Portion of Leases	15.3M	39.9M	41.8M	44.7M	44.2M
Short-Term Borrowings	-	901M	702M	764M	67.3M
Long-Term Debt	8.85B	14.34B	17.45B	20.13B	24.19B
Long-Term Leases	106M	466M	448M	425M	486M
Accounts Payable, Total	34.36M	44.08M	55.92M	66.58M	83.35M
Accrued Expenses, Total	116M	187M	228M	425M	447M
Current Income Taxes Payable	5.18M	19.15M	22.63M	61.07M	84.88M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	98.38M	177M	194M	268M	462M
Unearned Revenue Non Current	130M	242M	270M	312M	352M
Other Non Current Liabilities	327M	1.32B	1.4B	1.44B	1.68B
Total Liabilities	9.72B	18.01B	20.83B	24.67B	29.78B
Preferred Stock Redeemable	-	-	-	-	-
Preferred Stock - Others	-	-	-	-	-
Total Preferred Equity	-	-	-	-	-
Common Stock, Total	14.7B	29.58B	34.16B	39.63B	47.45B
Distributions In Excess Of Earnings	-3.66B	-4.53B	-5.49B	-6.76B	-8.65B
Comprehensive Income and Other	-54.63M	4.93M	46.83M	73.89M	38.23M
Total Common Equity	10.99B	25.05B	28.71B	32.94B	38.84B
Minority Interest	32.25M	76.83M	130M	166M	211M
Total Equity	11.02B	25.13B	28.84B	33.11B	39.05B
Total Liabilities And Equity	20.74B	43.14B	49.67B	57.78B	68.84B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	373M	591M	661M	861M	892M
ECS Total Common Shares Outstanding	361M	591M	660M	752M	892M
Book Value / Share	30.41	42.37	43.48	43.78	43.57
Tangible Book Value	9.26B	16.1B	19.81B	24.19B	27.59B
Tangible Book Value Per Share	25.63	27.23	30.01	32.15	30.94
Total Debt	9.01B	16.02B	18.67B	22.1B	26.68B
Net Debt	8.19B	15.76B	18.49B	21.87B	26.23B
Minority Interest, Total (Incl. Fin. Div)	32.25M	76.83M	130M	166M	211M
Equity Method Investments, Total	-	141M	-	1.17B	1.23B
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	6.32B	10.75B	12.95B	14.93B	17.32B
Buildings, Total	14.7B	25.16B	29.71B	34.66B	40.97B
Full Time Employees	208	367	391	418	468
Part Time Employees	2	4	4	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	-

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	395M	359M	869M	872M	861M
Depreciation, Depletion & Amortization	542M	650M	1.04B	1.24B	1.53B
Amortization of Goodwill and Intangible Assets - (CF)	166M	302M	635M	651M	905M
Total Depreciation, Depletion & Amortization	708M	952M	1.67B	1.9B	2.43B
Amortization of Deferred Charges, Total	11M	12.33M	15.61M	26.67M	23.94M
(Gain) Loss On Sale of Asset - (CF)	-76.23M	-55.8M	-103M	-25.67M	-117M
(Gain) Loss on Sale of Investments - (CF)	4.35M	2.9M	718K	-7.19M	-
Total Asset Writedown	147M	38.97M	25.86M	87.08M	426M
(Income) Loss On Equity Investments - (CF)	-	-741K	8.05M	3.26M	13.24M
Stock-Based Compensation (CF)	16.5M	41.77M	21.62M	26.23M	57.49M
Change in Accounts Receivable	-79.24M	-38.29M	-29.52M	-111M	28.08M
Change in Accounts Payable	19.72M	3.22M	-5.29M	285M	2.61M
Other Operating Activities	-31.22M	5.93M	89.97M	-93.11M	-152M
Cash from Operations	1.12B	1.32B	2.56B	2.96B	3.57B
Acquisition of Real Estate Assets, Total	-2.29B	-6.33B	-8.98B	-8.12B	-3.38B
Sale of Real Estate Assets, Total	259M	251M	436M	117M	589M
Net Sale / Acquisition of Real Estate Assets	-2.03B	-6.08B	-8.55B	-8B	-2.79B
Cash Acquisitions	-	-366M	-	-	93.68M
Investment in Marketable and Equity Securities, Total	-	38.34M	109M	-1.18B	-70.38M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-202M	-632M
Other Investing Activities, Total	-	-28.39M	49.27M	27.08M	59.86M
Cash from Investing	-2.03B	-6.44B	-8.39B	-9.35B	-3.34B
Long-Term Debt Issued, Total	5.73B	10.12B	30.69B	82.61B	39.54B
Total Debt Issued	5.73B	10.12B	30.69B	82.61B	39.54B
Long-Term Debt Repaid, Total	-4.86B	-9.27B	-27.75B	-79.42B	-38.37B
Total Debt Repaid	-4.86B	-9.27B	-27.75B	-79.42B	-38.37B
Issuance of Common Stock	1.83B	4.45B	4.57B	5.45B	1.75B
Repurchase of Common Stock	-	-	-	-	-
Repurchase of Preferred Stock	-	-	-	-	-173M
Common Dividends Paid	-964M	-1.17B	-1.81B	-2.11B	-2.69B
Preferred Dividends Paid	-	-	-	-	-7.76M
Common & Preferred Stock Dividends Paid	-964M	-1.17B	-1.81B	-2.11B	-2.7B
Other Financing Activities, Total	-49.67M	452M	36.88M	-88.79M	-79.61M
Cash from Financing	1.69B	4.58B	5.74B	6.44B	-21.16M
Foreign Exchange Rate Adjustments	4.43M	20.08M	-20.51M	24.02M	-5.9M
Net Change in Cash	780M	-518M	-105M	65.29M	203M
Supplemental Items
Cash Interest Paid	286M	355M	502M	692M	970M
Cash Income Tax Paid (Refund)	13.1M	19.68M	45.03M	12.28M	32.28M
Net Debt Issued / Repaid	873M	841M	2.95B	3.19B	1.18B
Levered Free Cash Flow	1.01B	1.11B	1.54B	1.76B	2.69B
Unlevered Free Cash Flow	1.19B	1.3B	1.81B	2.19B	3.3B
Change In Net Working Capital	35.9M	294M	693M	813M	640M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	2.55	1.87	1.75	2.01	2.3
Return on Total Capital	2.64	1.95	1.84	2.1	2.41
Return On Equity %	3.81	2	3.23	2.83	2.4
Return on Common Equity	3.81	1.99	3.23	2.83	2.36
Margin Analysis
Gross Profit Margin %	93.67	93.58	93.22	92.23	92.85
SG&A Margin	4.22	4.66	4.15	3.54	3.35
EBITDA Margin %	91.31	91.55	89.07	88.69	90.15
EBITA Margin %	58.47	60.3	58.04	58.21	61.26
EBIT Margin %	48.45	45.79	39.02	42.26	44.11
Income From Continuing Operations Margin %	24.01	17.33	26.14	21.48	16.43
Net Income Margin %	23.95	17.27	26.05	21.37	16.31
Net Avail. For Common Margin %	23.95	17.27	26.05	21.37	16.06
Normalized Net Income Margin	18.69	19.16	15.9	15.27	15.73
Levered Free Cash Flow Margin	60.93	53.12	46.06	43.03	50.98
Unlevered Free Cash Flow Margin	71.97	62.24	54.31	53.56	62.57
Asset Turnover
Asset Turnover	0.08	0.07	0.07	0.08	0.08
Fixed Assets Turnover	0.1	0.08	0.09	0.1	0.11
Receivables Turnover (Average Receivables)	7.01	5.74	6.55	6.25	6.3
Short Term Liquidity
Current Ratio	4.15	0.73	1.49	1.26	1.33
Quick Ratio	3.97	0.63	1.38	1.12	0.99
Operating Cash Flow to Current Liabilities	3.56	0.81	2.03	1.25	1.16
Days Sales Outstanding (Average Receivables)	52.2	63.63	55.76	58.36	58.07
Average Days Payable Outstanding	115.14	99.77	80.64	70.53	70.44
Long Term Solvency
Total Debt/Equity	81.79	63.75	64.71	66.76	68.31
Total Debt / Total Capital	44.99	38.93	39.29	40.03	40.59
LT Debt/Equity	81.25	58.92	62.06	62.08	63.18
Long-Term Debt / Total Capital	44.7	35.98	37.68	37.23	37.54
Total Liabilities / Total Assets	46.88	41.75	41.93	42.7	43.27
EBIT / Interest Expense	2.59	2.95	2.8	2.36	2.29
EBITDA / Interest Expense	4.88	5.89	6.39	4.96	4.68
(EBITDA - Capex) / Interest Expense	4.88	5.89	6.39	4.96	4.68
Total Debt / EBITDA	5.98	8.41	6.28	6.11	5.61
Net Debt / EBITDA	5.43	8.27	6.22	6.04	5.51
Total Debt / (EBITDA - Capex)	5.98	8.41	6.28	6.11	5.61
Net Debt / (EBITDA - Capex)	5.43	8.27	6.22	6.04	5.51
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	10.73	26.38	60.32	22.3	29.34
Gross Profit, 1 Yr. Growth %	10.26	26.29	59.7	21.01	30.19
EBITDA, 1 Yr. Growth %	11.01	26.73	60.59	21.79	29.27
EBITA, 1 Yr. Growth %	10.16	30.59	61.33	22.66	32.66
EBIT, 1 Yr. Growth %	7.77	19.79	36.61	32.47	35.01
Earnings From Cont. Operations, 1 Yr. Growth %	-9.37	-9.02	141.84	0.52	-1.09
Net Income, 1 Yr. Growth %	-9.39	-9.11	141.87	0.33	-1.32
Diluted EPS Before Extra, 1 Yr. Growth %	-17.39	-23.94	63.76	-11.27	-22.22
Normalized Net Income, 1 Yr. Growth %	9.2	29.21	33.09	17.45	33.17
Net Property, Plant and Equip., 1 Yr. Growth %	6.9	85.37	18.33	15.43	16.44
Accounts Receivable, 1 Yr. Growth %	57.01	52	32.16	30.48	23.33
Total Assets, 1 Yr. Growth %	11.78	107.99	15.15	16.32	19.13
Common Equity, 1 Yr. Growth %	12.39	128.05	14.61	14.73	17.91
Tangible Book Value, 1 Yr. Growth %	12.02	73.86	23.06	22.1	14.03
Cash From Operations, 1 Yr. Growth %	4.36	18.52	93.91	15.4	20.77
Levered Free Cash Flow, 1 Yr. Growth %	38.85	10.05	46.26	7.41	48.04
Unlevered Free Cash Flow, 1 Yr. Growth %	32.54	9.15	46.04	14.44	46.94
Dividend Per Share, 1 Yr. Growth %	3.09	1.57	4.36	3.03	2.42
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	11.53	18.27	42.34	40.03	25.77
Gross Profit, 2 Yr. CAGR %	10.74	17.98	42.01	39.02	25.52
EBITDA, 2 Yr. CAGR %	11.51	18.58	42.07	39.85	25.37
EBITA, 2 Yr. CAGR %	11.29	19.89	44.29	40.67	27.39
EBIT, 2 Yr. CAGR %	10.43	13.56	27.92	34.52	33.73
Earnings From Cont. Operations, 2 Yr. CAGR %	4.28	-9.19	48.33	55.91	-0.29
Net Income, 2 Yr. CAGR %	4.29	-9.25	48.27	55.78	-0.5
Diluted EPS Before Extra, 2 Yr. CAGR %	-4.74	-20.73	11.61	20.54	-16.93
Normalized Net Income, 2 Yr. CAGR %	12.73	18.79	31.13	25.03	25.06
Net Property, Plant and Equip., 2 Yr. CAGR %	13.14	40.77	48.1	16.87	15.94
Accounts Receivable, 2 Yr. CAGR %	40.37	54.48	41.73	28.46	26.86
Total Assets, 2 Yr. CAGR %	16.58	52.48	54.76	15.73	17.72
Common Equity, 2 Yr. CAGR %	16.54	60.1	61.67	14.67	16.31
Tangible Book Value, 2 Yr. CAGR %	16.06	39.56	46.27	22.58	17.99
Cash From Operations, 2 Yr. CAGR %	8.89	11.22	51.6	49.59	18.06
Levered Free Cash Flow, 2 Yr. CAGR %	9.59	23.69	25.64	29.27	26.16
Unlevered Free Cash Flow, 2 Yr. CAGR %	9.29	20.33	25.21	32.73	29.62
Dividend Per Share, 2 Yr. CAGR %	3.02	2.33	2.96	3.69	2.72
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	10.75	16.17	30.89	35.32	36.37
Gross Profit, 3 Yr. CAGR %	10.51	15.58	30.51	34.64	36.01
EBITDA, 3 Yr. CAGR %	11.03	16.25	29.93	34.96	37
EBITA, 3 Yr. CAGR %	10.91	17.2	30.42	36.69	39.13
EBIT, 3 Yr. CAGR %	10.75	13.25	20.77	29.42	34.68
Earnings From Cont. Operations, 3 Yr. CAGR %	7.48	-0.35	25.87	30.29	33.97
Net Income, 3 Yr. CAGR %	7.45	-0.38	25.82	30.17	33.79
Diluted EPS Before Extra, 3 Yr. CAGR %	1.2	-11.63	0.96	3.39	4.16
Normalized Net Income, 3 Yr. CAGR %	13.16	17.97	23.37	26.41	27.68
Net Property, Plant and Equip., 3 Yr. CAGR %	11.78	33.38	32.85	36.3	16.73
Accounts Receivable, 3 Yr. CAGR %	33.7	44.15	46.65	35.87	26.73
Total Assets, 3 Yr. CAGR %	13.84	41.39	38.85	40.71	16.86
Common Equity, 3 Yr. CAGR %	14.22	45.77	43.22	44.2	15.74
Tangible Book Value, 3 Yr. CAGR %	14.55	32.8	33.83	37.72	19.66
Cash From Operations, 3 Yr. CAGR %	8.4	12.01	33.86	38.42	39.29
Levered Free Cash Flow, 3 Yr. CAGR %	10.74	9.68	28.61	21.73	36.81
Unlevered Free Cash Flow, 3 Yr. CAGR %	10.24	9.19	26.53	23.66	38.58
Dividend Per Share, 3 Yr. CAGR %	3.35	2.54	3	2.98	3.27
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	10.05	13.54	22.38	25.18	28.82
Gross Profit, 5 Yr. CAGR %	9.83	13.37	22.1	24.44	28.49
EBITDA, 5 Yr. CAGR %	10.24	13.82	21.95	24.44	28.56
EBITA, 5 Yr. CAGR %	9.8	14.36	22.3	24.96	29.93
EBIT, 5 Yr. CAGR %	9.45	12.1	17.19	21.32	25.8
Earnings From Cont. Operations, 5 Yr. CAGR %	6.84	2.65	22.26	19.19	14.67
Net Income, 5 Yr. CAGR %	6.86	2.64	22.22	19.13	14.55
Diluted EPS Before Extra, 5 Yr. CAGR %	0.92	-5.16	5.24	0.06	-6.62
Normalized Net Income, 5 Yr. CAGR %	12.46	15.02	20.03	20.74	24.05
Net Property, Plant and Equip., 5 Yr. CAGR %	10.78	22.53	25.1	26.51	25.81
Accounts Receivable, 5 Yr. CAGR %	28.46	32.94	36.86	37.65	37.17
Total Assets, 5 Yr. CAGR %	11.85	26.81	28.72	30.51	29.98
Common Equity, 5 Yr. CAGR %	12.35	31.5	31.25	32.43	31.78
Tangible Book Value, 5 Yr. CAGR %	12.73	25.01	26.31	28.61	27.25
Cash From Operations, 5 Yr. CAGR %	9.97	10.57	23.96	25.76	27.3
Levered Free Cash Flow, 5 Yr. CAGR %	9.86	10.72	15.71	15.95	30.08
Unlevered Free Cash Flow, 5 Yr. CAGR %	9.2	10.28	15.35	17.05	29.85
Dividend Per Share, 5 Yr. CAGR %	4.21	3.43	3.19	3	2.89