10x Insights
Loading account…
Companies / Real Estate / Realty Income
O

Realty Income

Real EstateREITsS&P 500
Ticker OSAN DIEGO, CAFiscal year ends DecemberBook value per share $42.32Diluted shares 934.4M

Realty Income Corporation (NYSE: O) acquires, owns and actively manages freestanding commercial properties leased to businesses under long-term net leases, typically leaving tenants responsible for property taxes, insurance and maintenance. Its customers include operators across retail, industrial, gaming and other… From the company’s description.

In fiscal 2025, Realty Income reported revenue of $5.75B, up 9.1% from fiscal 2024, and net income of $1.07B. Its operating margin was 36.5%, and operations generated $3.99B in cash. Over the twelve months to Jun 30, 2026, revenue was $6.05B.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$5.75BFY2025
+9.1% year over year
Last 12 mo $6.05B
36.50%FY2025
+2.4 percentage points
Last 12 mo 39.71%
$1.07BFY2025
+23.3% year over year
Last 12 mo $1.31B
3.88%FY2025
+0.6 percentage points
Last 12 mo 3.21%
Cash & financing
$3.99BFY2025
+11.8% year over year
Last 12 mo $4.17B
$-784.92MFY2025
−514.4% year over year
Last 12 mo $-1.98B
0.73FY2025
Was 0.68× a year earlier
Last 12 mo 0.78
908.3MFY2025
+5.2% year over year
Last 12 mo 934.4M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Realty Income does

In the company’s own words

Realty Income Corporation (NYSE: O) acquires, owns and actively manages freestanding commercial properties leased to businesses under long-term net leases, typically leaving tenants responsible for property taxes, insurance and maintenance. Its customers include operators across retail, industrial, gaming and other industries, with properties serving grocery, convenience, home improvement, restaurants, health and fitness, and other uses. The company operates as a single business segment focused on leasing property, and also invests in real estate loans and preferred equity. As of December 31, 2025, its portfolio comprised 15,511 properties across the United States, the United Kingdom and eight other European countries; retail represented 79.1% of annualized base rent and industrial 15.4%. Founded in 1969, Realty Income entered the U.K. in 2019 and has expanded its European presence, alongside investments in additional property types and private capital ventures. Its website is www.realtyincome.com.

Company details
Sector
Real Estate
Industry (SIC)
REITs
Headquarters
SAN DIEGO, CA
Fiscal year end
December
CIK
726728
SIC
6798

Financial performance, year by year

Fiscal 2013–2025 · USD
$-605.49M$1.21B$3.03B$4.84B$6.66B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Realty Income — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

626
funds hold it
0 of 35
superinvestors hold it
$19.59B
held by funds, at market
33.1%
of shares held by funds
45
bond issues held by funds

Largest fund holders · Realty Income’s weight in each

VANGUARD REAL ESTATE INDEX FUND
VNQ · VANGUARD SPECIALIZED FUNDS
—of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.08%of fund net assets
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.09%of fund net assets
VANGUARD MID-CAP INDEX FUND
VO · VANGUARD INDEX FUNDS
0.56%of fund net assets
iShares Core S&P 500 ETF
IVV · iShares Trust
0.09%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Realty Income’s bonds, as funds hold them

Funds report holding 45 issues of Realty Income’s debt, $3.01B at market value — what funds hold, not the company’s total debt. Weighted-average coupon 3.97%, maturing 2026 to 2054.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do Realty Income and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Realty Income's earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Realty Income's last four quarterly filings that the numbers alone won't show?”
See how it works →All research tools with a subscription. Use your own AI account.