Company Valuation: Realty Income Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 40,507 39,780 41,569 46,745 51,855 52,207 - -
Change - -1.79% 4.5% 12.45% 10.93% 0.68% - -
Enterprise Value (EV) 1 55,691 57,720 62,856 72,527 81,085 84,658 87,452 89,254
Change - 3.64% 8.9% 15.39% 11.8% 4.41% 3.3% 2.06%
P/E 82.3x 44.7x 45.6x 54.5x 48.2x 36.7x 32.4x 32.3x
PBR 1.69x 1.46x 1.31x 1.23x 1.33x 1.28x 1.28x 1.3x
PEG - 0.7x -4x -2.5x 2.5x 1.3x 2.4x 151.78x
Capitalization / Revenue 20.7x 12.1x 10.5x 9.27x 9.54x 9.04x 8.48x 7.89x
EV / Revenue 28.4x 17.5x 15.9x 14.4x 14.9x 14.7x 14.2x 13.5x
EV / EBITDA 30.1x 19.4x 17.4x 15.4x 15.8x 15.1x 14.3x 13.6x
EV / EBIT 58.5x 44.1x 36.5x 31.2x 31.3x 28.3x 26.6x 24.3x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 2.833 2.967 3.051 3.126 3.217 3.264 3.348 3.435
Rate of return 3.96% 4.68% 5.31% 5.85% 5.71% 5.9% 6.05% 6.21%
EPS 2 0.87 1.42 1.26 0.98 1.17 1.51 1.71 1.714
Distribution rate 326% 209% 242% 319% 275% 216% 196% 200%
Net sales 1 1,960 3,300 3,958 5,044 5,437 5,772 6,155 6,615
EBITDA 1 1,850 2,979 3,617 4,717 5,118 5,590 6,128 6,550
EBIT 1 952 1,309 1,722 2,321 2,594 2,987 3,289 3,666
Net income 1 359.5 869.4 872.3 847.9 1,059 1,446 1,715 1,810
Net Debt 1 15,184 17,940 21,287 25,782 29,230 32,451 35,245 37,047
Reference price 2 71.59 63.43 57.42 53.41 56.37 55.35 55.35 55.35
Nbr of stocks (in thousands) 565,813 627,154 723,949 875,211 919,906 943,218 - -
Announcement Date 22/02/22 21/02/23 20/02/24 24/02/25 24/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
36.66x14.67x15.14x5.9% 52.21B
16.58x23.28x27.9x3.48% 16.86B
8.3x11.89x14.57x6.02% 15.06B
18.04x16.06x23.26x5.36% 13.94B
9.52x13.29x15.83x5.41% 11.89B
25.92x10.5x16.57x4.16% 9.54B
14.27x11.59x18.21x6.61% 8.95B
33.4x7.31x11.72x5.92% 8.48B
7.17x19.32x26.01x3.46% 8.61B
-136.4x7.49x17.44x2.2% 6.37B
Average 3.35x 13.54x 18.67x 4.85% 15.19B
Weighted average by Cap. 16.68x 14.48x 18.09x 5.19%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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