O - NYSE

Realty Income Corporation

O·NYSE

$59.78

-0.22%

Real EstateREIT - Retail

Realty Income, The Monthly Dividend Company, is an S&P 500 company dedicated to providing stockholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 6,500 real estate properties owned under long-term lease agreements with our commercial clients. To date, the company has declared 608 consecutive common stock monthly dividends throughout its 52-year operating history and increased the dividend 109 times since Realty Income's public listing in 1994 (NYSE: O). The company is a member of the S&P 500 Dividend Aristocrats index. Additional information about the company can be obtained from the corporate website at www.realtyincome.com.

Statements Value Model

At a Glance

Live Snapshot

Market Cap$55.74B

EPS1.1700

P/E Ratio51.09

Earnings Date08/05/2026

3.99B

Operating Cash Flow

12%

3Y+56.0%

5Y+258.0%

10Y+397.0%

-5.17B

Investing Cash Flow

55%

3Y-38.0%

5Y+155.0%

10Y+204.0%

1.19B

Financing Cash Flow

-5721%

3Y-79.0%

5Y-30.0%

10Y+37.0%

Realty Income Corporation Cash Conversion Engine

O · NYSE

FCF Components

Net Income1.07B

Depreciation & Amortization2.52B

Stock-Based Compensation0.00

Change in Working Capital77.85M

Others322.92M

Capital Expenditures-131.80M

Free Cash Flow3.86B

Cash Flow Quality Analysis

FCF Conversion Rate

361.1%

Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.

CapEx Intensity

3.3%

Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.

FCF Growth Trend

+11.9%

Steady FCF growth indicates consistent cash generation improvement. On a positive trajectory.

Working Capital Impact

+$77.85M

Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.

Cash Flow Quality Insight

Exceptional cash generation: High-quality earnings converting to growing free cash flow. The company demonstrates strong pricing power, efficient operations, and disciplined capital allocation.

Realty Income Corporation Cash Flow Statement

O • NYSE

Realty Income Corporation Cash Flow Statement	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009	Dec 2008	Dec 2007	Dec 2006
OPERATING ACTIVITIES
Net Income	1.1B	867.3M	872.3M	872.4M	360.7M	396.5M	437.5M	364.6M	319.3M	316.5M	284.9M	269.1M	179.2M	146M	151.1M	121.4M	131.1M	116.8M	127.4M	106.1M
Depreciation & Amortization	2.5B	2.4B	1.9B	1.7B	897.8M	677M	594M	539.8M	498.8M	449.9M	409.2M	374.7M	306.6M	149.6M	121.8M	95.5M	91.4M	95.8M	77.2M	59.5M
Change in Deferred Taxes	603K	3.6M	0.0	0.0	81.8M	80.6M	10.7M	-1.1M	13M	-3M	-8.6M	-33.8M	8.3M	10.2M	0.0	0.0	0.0	0.0	0.0	0.0
Stock-Based Compensation	0.0	57.5M	26.2M	21.6M	41.8M	16.5M	13.7M	27.3M	13.9M	12M	10.4M	12M	20.8M	10M	0.0	0.0	0.0	0.0	0.0	0.0
Other Non-Cash Items	322.9M	218.6M	-13.6M	34.2M	-24.9M	4.4M	-2M	-1.6M	4.8M	-4.7M	-7M	-11.4M	-5.7M	-966K	11.7M	8.7M	-266K	32.8M	92M	-86.4M
Cash Taxes Paid	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(13.1M)	(4.2M)	(4.7M)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)
Change in Working Capital	77.8M	30.7M	174M	-34.8M	-35.1M	-59.5M	15.1M	11.8M	26M	33.2M	3.5M	17.2M	9.7M	11.6M	14.4M	17.8M	4.5M	745K	21.6M	7.8M
Cash from Operating Activities	4B	3.6B	3B	2.6B	1.3B	1.1B	1.1B	940.7M	875.9M	804M	692.3M	627.7M	518.9M	326.5M	299M	243.4M	226.7M	246.2M	318.2M	86.9M
INVESTING ACTIVITIES
Investments in Property, Plant, and Equipment	-131.8M	-121.4M	-68.7M	-95.5M	-19.1M	-8.7M	-23.5M	-25.4M	(0.0)	-13.4M	-11.5M	(0.0)	(0.0)	(0.0)	(0.0)	-15.4M	-860K	-397K	-507.4M	-655.1M
Acquisitions, Net	(488.5M)	(93.7M)	(0.0)	(0.0)	(0.0)	(2B)	(3.5B)	-200K	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(860K)	(397K)	(0.0)	(0.0)
Purchase of Investments	-6.3B	-4B	-9.4B	-8.9B	-6.3B	-2.3B	-3.6B	-1.8B	-1.4B	-1.8B	-1.3B	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	-60.5M	-194.1M	(0.0)	(0.0)
Sale/Maturity of Investments	778.6M	646.8M	121.3M	551.5M	288.9M	259.5M	108.9M	147.6M	167.1M	111.6M	99.4M	0.0	0.0	0.0	0.0	0.0	15.6M	24.6M	0.0	9.8M
Other Investing Items	3.5M	2.8M	27.3M	49.1M	-366M	-2B	-3.5B	7.8M	-836K	13.4M	11.5M	-1.2B	-1.3B	-1B	-934.9M	-682M	-860K	-397K	8.7M	0.0
Cash from Investing Activities	-5.2B	-3.3B	-9.4B	-8.4B	-6.4B	-2B	-3.5B	-1.6B	-1.3B	-1.7B	-1.2B	-1.2B	-1.3B	-1B	-934.9M	-697.4M	-45.7M	-169.9M	-498.6M	-645.3M
FINANCING ACTIVITIES
Net Issuance of Common Stock	2.4B	1.6B	5.5B	4.6B	4.5B	728.9M	823.9M	-2.8M	987.8M	374.5M	793.6M	528.6M	1.1B	0.0	489.2M	432.6M	0.0	74.4M	816K	403.1M
Net Issuance of Debt	1.7B	1.1B	3.1B	2.9B	827.3M	873M	1.3B	391.7M	158.3M	977.2M	-93.6M	608.4M	105.2M	708.9M	377.3M	241.5M	-15.4M	-100M	544.4M	25.2M
Cash Paid for Dividends	-2.9B	-2.7B	-2.1B	-1.8B	-1.2B	-964.2M	-852.1M	-761.6M	-695.5M	-637.6M	-560.3M	-517.6M	-451.2M	-275.8M	-243.6M	-206.8M	-202.3M	-193.9M	-182.2M	-139.1M
Share Repurchases	(0.0)	-172.5M	(0.0)	(0.0)	(0.0)	(0.0)	-21.1M	-2.8M	-408.8M	-9M	-6.8M	-220M	(0.0)	-127.5M	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)
Other Financing Items	34.8M	-19M	-6.9M	71M	464.9M	1.1B	1.3B	1.1B	-75.6M	152M	390.3M	141.3M	30.5M	-18M	-474K	-5.8M	-111K	-3.2M	0.0	0.0
Cash from Financing Activities	1.2B	-21.2M	6.4B	5.7B	4.6B	1.7B	2.5B	707.9M	375.1M	866.2M	523.2M	540.8M	818.1M	683M	622.5M	461.6M	-217.8M	-222.6M	363M	503.2M
CASH FLOW SUMMARY
Effect of Foreign Exchange Rates	-19.5M	2.8M	20.6M	-2.5M	-27.5M	4.4M	-9.8M	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 Change in Cash	-10.1M	212M	61.8M	-87.5M	-565.9M	779.7M	49.9M	8.9M	-3.5M	-30.9M	36.4M	-6.4M	5M	1.1M	-13.4M	7.6M	-36.8M	-146.3M	182.5M	-55.1M
Cash at Beginning of Period	445M	232.9M	171.1M	258.6M	824.5M	71M	21.1M	12.1M	15.7M	40.3M	3.9M	10.3M	5.2M	4.2M	17.6M	10M	46.8M	193.1M	10.6M	65.7M
Cash at End of Period	434.8M	445M	232.9M	171.1M	258.6M	850.7M	71M	21.1M	12.1M	9.4M	40.3M	3.9M	10.3M	5.2M	4.2M	17.6M	10M	46.8M	193.1M	10.6M
Free Cash Flow	3.9B	3.5B	2.9B	2.5B	1.3B	1.1B	1B	915.4M	860.6M	790.6M	680.8M	627.7M	518.9M	326.5M	299M	228M	225.8M	245.8M	-189.2M	-568.1M

SEC Filings

O - Filing history and reports

Filing Type	Filing Date	Period Ending	Fiscal Year	Actions
8-K 8-K 2026 N/A	May 22, 2026	May 21, 2026	2026	View Filing
8-K 8-K 2026 N/A	May 08, 2026	May 07, 2026	2026	View Filing
10-Q 10-Q 2026 Q1 Q1	May 07, 2026	March 31, 2026	2026	View Filing
8-K 8-K 2026 N/A	May 06, 2026	May 06, 2026	2026	View Filing
8-K 8-K 2026 N/A	April 07, 2026	April 07, 2026	2026	View Filing
8-K 8-K 2026 N/A	March 31, 2026	March 30, 2026	2026	View Filing
8-K 8-K 2026 N/A	March 30, 2026	March 30, 2026	2026	View Filing
DEF 14A DEF 14A 2026 N/A	March 25, 2026	May 21, 2026	2026	View Filing
8-K 8-K 2026 N/A	March 02, 2026	February 26, 2026	2026	View Filing
10-K 10-K 2025 FY FY	February 25, 2026	December 31, 2025	2025	View Filing

Showing 1 to 10 of 580 filings

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