Realty Income Corp. (O)

Name: Realty Income Corp. (O): results, filings decoded, planned insider sales, 13F holders, insiders, Congress and short interest
Creator: GreekSoup
License: https://creativecommons.org/licenses/by/4.0/

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Realty Income Corp. (O) reported revenue of $1.5 billion for Q2 FY2026, the quarter ended 30 June 2026, up 9.7% on the same quarter a year earlier. Net income was $344 million, up 74.7% on the year, and diluted earnings per share $0.37. The figures are the company's own, from the 10-Q it filed with the SEC on 6 August 2026.

Revenue$1.5 billionup 9.7%

Net income$344 millionup 74.7%

Diluted EPS$0.37

QuarterQ2 FY2026ended 30 June 2026

Ratios

From the filings

ROE3.2%

ROCE1.9%

Operating margin20.1%

Net margin20.9%

FCF margin66.1%

Interest covern/a

Debt to equity0.63

Cash conversion3.29

Share count, 1 year3.5%

Sales CAGR, 3 years19.8%

Profit CAGR, 3 years6.8%

EPS, TTM$1.37

At the close of 21 September 2026

Price$56.65

Market cap$53.6 billion

Stock P/E41.35

Price to book1.36

EV / EBITDA20.78

Dividend yield5.7%

Market cap / sales8.85

52-week high$67.56

52-week low$55.93

Price, 1 year-4.2%

Price CAGR, 3 years3.2%

Price CAGR, 5 years-3.5%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on the borrowings Realty Income Corp. reports under its own heading, which is the only one it files; lease liabilities are separate lines. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

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50-day average 200-day average Volume

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on O

Filings	37 in twelve months: 30 current reports (8-K), about 17 other events; 12 regulation fd disclosure; 4 new financial obligation; 4 results of operations; 2 unregistered sale of equity
Planned insider sales	4 Form 144 notices in twelve months, $1.5 million; latest 10 September 2026
Options tape	put/call 0.79 by open interest on 23 September 2026; the straddle prices a 3.5% move to 16 October 2026
Holders	7 of the followed funds hold it; largest Geode Capital Management; 3 Schedule 13D or 13G filings in twelve months
Insider trading	4 sales and 0 purchases on Form 4 in twelve months
Congress	1 House trade disclosed in six months
Short interest	41.0 million shares short, 8.24 days to cover at 31 August 2026
Documents	the 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	1,039	1,076	1,260	1,339	1,331	1,340	1,381	1,410	1,471	1,488	1,549	1,548
Operating income	233	235	125	243	228	186	236	178	282	267	311	357
Operating margin	22%	22%	10%	18%	17%	14%	17%	13%	19%	18%	20%	23%
Interest expense	184	208	241	247	261	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	245	236	149	277	286	221	267	223	341	323	347	396
Tax rate	5%	7%	10%	6%	5%	9%	6%	11%	7%	7%	8%	7%
Net income	233	218	132	259	269	200	250	197	316	296	312	344
Net margin	22%	20%	10%	19%	20%	15%	18%	14%	21%	20%	20%	22%
Diluted EPS	$0.33	$0.30	$0.16	$0.29	$0.30	$0.23	$0.28	$0.22	$0.35	$0.32	$0.33	$0.37
Operating cash flow	732	761	779	981	841	972	788	1,061	943	1,203	875	1,145
Capital expenditure	17.6	21.6	9.6	42.0	33.6	36.2	22.9	26.3	33.2	49.4	26.3	57.2
Free cash flow	714	739	769	939	808	936	765	1,034	910	1,154	848	1,088
Buybacks	n/a	n/a	n/a	n/a	n/a	n/a	0.0	0.0	n/a	n/a	102	0.0
Dividends paid	543	556	636	676	687	692	712	727	738	744	758	757
Shares outstanding	724m	752m	871m	871m	875m	892m	903m	914m	920m	934m	932m	946m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

	FY2010 †	FY2011 †	FY2016 †	FY2017	FY2018	FY2019 †	FY2020 †	FY2021	FY2022	FY2023	FY2024	FY2025	TTM
Revenue	343	421	1,103	1,216	1,328	1,488	1,647	2,080	3,344	4,079	5,271	5,749	6,055
Operating income	n/a	n/a	n/a	n/a	n/a	411	340	422	804	890	782	963	1,218
Operating margin	n/a	n/a	n/a	n/a	n/a	27.6%	20.7%	20.3%	24.0%	21.8%	14.8%	16.8%	20.1%
Interest expense	93.2	108	220	247	266	291	309	324	465	730	n/a	n/a	n/a
Pre-tax income	n/a	n/a	n/a	n/a	n/a	444	411	392	918	929	934	1,155	1,408
Income tax	1.4	1.5	3.3	6.0	5.3	6.2	14.7	31.7	45.2	52.0	66.6	85.3	97.6
Effective tax rate	n/a	n/a	n/a	n/a	n/a	1.4%	3.6%	8.1%	4.9%	5.6%	7.1%	7.4%	6.9%
Net income	131	157	316	319	364	436	395	359	869	872	861	1,059	1,268
Net margin	38.1%	37.3%	28.6%	26.2%	27.4%	29.3%	24.0%	17.3%	26.0%	21.4%	16.3%	18.4%	20.9%
Diluted EPS	$1.01	$1.05	$1.13	$1.10	$1.26	$1.38	$1.14	$0.87	$1.42	$1.26	$0.98	$1.17	$1.37
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

	FY2010 †	FY2011 †	FY2016 †	FY2017	FY2018	FY2019 †	FY2020 †	FY2021	FY2022	FY2023	FY2024	FY2025	TTM
Operating cash flow	243	299	800	876	941	1,069	1,116	1,322	2,564	2,959	3,573	3,995	4,166
Capital expenditure	n/a	4.2	13.4	15.2	25.4	23.5	8.7	19.1	95.5	68.7	121	132	166
Free cash flow	n/a	295	786	861	915	1,045	1,107	1,303	2,468	2,890	3,452	3,863	4,000
Free cash flow margin	n/a	70.0%	71.3%	70.8%	68.9%	70.2%	67.2%	62.6%	73.8%	70.9%	65.5%	67.2%	66.1%
Depreciation and amortisation	91.6	117	450	499	540	594	677	898	1,670	1,895	2,396	2,524	2,542
Share-based compensation	6.2	7.9	12.0	13.9	27.3	13.7	16.5	41.8	21.6	26.2	57.5	30.8	37.5
Dividends paid	182	219	611	689	762	852	964	1,169	1,813	2,112	2,692	2,921	2,996
Dividend per share	n/a	n/a	n/a	$2.53	$2.63	$2.71	$2.79	$2.83	$2.97	$3.05	$3.13	$3.22	n/a
Diluted shares, weighted	106m	126m	256m	274m	290m	316m	345m	415m	612m	693m	864m	908m	935m
Shares outstanding at period end	118m	133m	260m	284m	304m	334m	361m	591m	660m	752m	892m	934m	946m
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

	FY2010 †	FY2011 †	FY2016 †	FY2017	FY2018	FY2019 †	FY2020 †	FY2021	FY2022	FY2023	FY2024	FY2025	TTM
Total assets	3,536	4,419	13,153	14,058	15,260	18,555	20,740	43,138	49,673	57,779	68,835	72,796	76,441
Cash and equivalents	n/a	n/a	9.4	6.9	10.4	54.0	824	259	171	233	445	435	553
Goodwill	17.2	17.2	15.1	15.0	14.6	14.4	14.2	3,677	3,731	3,731	4,932	4,932	4,932
Long-term debt	n/a	1,750	3,975	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Borrowings, as the company tags them	1,600	1,750	3,975	n/a	5,377	6,288	8,268	12,500	14,278	18,602	22,658	25,032	25,092
Shareholders' equity	1,847	2,255	6,767	7,372	8,089	9,774	10,985	25,053	28,713	32,941	38,841	39,439	39,550
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

	10 years	5 years	3 years	TTM
Sales growth, compounded	n/a	28.4%	19.8%	10.9%
Profit growth, compounded	n/a	21.8%	6.8%	38.4%
Return on equity, average	3.4%	2.4%	2.5%	2.7%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Real Estate Investment Trusts

Company	Market cap	P/E	ROE	Op. margin	Sales growth TTM	Debt to equity	Div. yield
Welltower Inc. WELL	$164.0 billion	115.80	3.2%	-2.8%	37.6%	0.41	1.2%
Prologis, Inc. PLD	$126.6 billion	34.21	6.9%	52.4%	6.7%	0.65	0.0%
Equinix Inc. EQIX	$104.3 billion	68.03	10.7%	21.8%	9.6%	1.38	1.9%
American Tower Corp. AMT	$81.4 billion	23.98	91.4%	44.8%	6.6%	8.59	3.9%
Simon Property Group Inc. SPG	$66.4 billion	14.46	104.1%	47.4%	15.0%	6.47	4.2%
Digital Realty Trust, Inc. DLR	$65.0 billion	49.42	5.9%	11.5%	12.6%	0.92	n/a
Realty Income Corp. O	$53.6 billion	41.35	3.2%	20.1%	10.9%	0.63	5.7%
Public Storage PSA	$52.1 billion	28.34	22.2%	39.0%	3.0%	1.11	4.0%
Ventas, Inc. VTR	$44.6 billion	161.17	1.8%	3.3%	21.5%	0.87	2.2%
Iron Mountain Inc. IRM	$34.8 billion	82.90	n/a	18.8%	17.4%	n/a	2.9%
Crown Castle Inc. CCI	$31.2 billion	n/a	n/a	n/a	n/a	n/a	5.8%
Extra Space Storage Inc. EXR	$29.0 billion	30.41	7.2%	40.9%	4.2%	1.88	4.7%
Vici Properties Inc. VICI	$26.5 billion	9.32	9.5%	n/a	4.4%	0.58	7.5%
Vivmark Residential VMRK	$22.8 billion	19.48	11.2%	57.7%	4.3%	0.58	3.5%
SBA Communications Corp. SBAC	$18.7 billion	19.00	n/a	47.6%	5.4%	n/a	n/a
Essex Property Trust, Inc. ESS	$17.4 billion	42.27	7.8%	32.5%	4.7%	1.20	3.8%
Host Hotels & Resorts, Inc. HST	$15.3 billion	14.87	16.1%	14.6%	4.9%	0.19	4.3%
Weyerhaeuser Co. WY	$15.1 billion	31.36	5.0%	12.3%	-2.6%	0.56	4.0%
Kimco Realty Corp. KIM	$15.1 billion	25.01	5.9%	36.0%	4.4%	0.81	4.5%
Healthpeak Properties, Inc. DOC	$14.3 billion	59.20	3.1%	5.1%	5.5%	1.28	5.9%
MID America Apartment Communities Inc. MAA	$13.8 billion	36.02	7.0%	62.0%	0.8%	1.02	5.1%
Regency Centers Corp. REG	$13.4 billion	n/a	7.9%	72.3%	7.8%	0.73	3.9%
Udr, Inc. UDR	$11.0 billion	23.05	14.9%	38.5%	2.1%	1.72	5.1%
Bxp, Inc. BXP	$10.2 billion	34.48	5.8%	28.3%	1.9%	0.57	4.8%
Camden Property Trust CPT	$9.9 billion	32.72	8.6%	n/a	56.8%	1.28	4.3%
Federal Realty Investment Trust FRT	$9.6 billion	19.17	15.3%	53.6%	7.4%	0.41	4.0%
Alexandria Real Estate Equities, Inc. ARE	$9.3 billion	n/a	-6.6%	-69.8%	-8.4%	0.82	8.8%

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

Filing	Period	Filed	Where
10-Q	30 June 2026	6 August 2026	EDGAR
10-Q	31 March 2026	7 May 2026	EDGAR
10-K	31 December 2025	25 February 2026	EDGAR
10-Q	30 September 2025	4 November 2025	EDGAR
10-Q	30 June 2025	7 August 2025	EDGAR
10-Q	31 March 2025	6 May 2025	EDGAR
10-K	31 December 2024	25 February 2025	EDGAR
10-Q	30 September 2024	5 November 2024	EDGAR
10-Q	30 June 2024	6 August 2024	EDGAR
10-Q	31 March 2024	7 May 2024	EDGAR

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