Realty Income (O) FY2019 results: revenue $1.5 billion, up 12.1% on the year
Realty Income Corp. (O) reported revenue of $1.5 billion for fiscal 2019, the year ended 31 December 2019, up 12.1% on the year before. Net income was $436 million, up 20.0%, and diluted earnings per share $1.38. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2020.
Revenue
$1.5 billion
+12.1% on the year
FY2012FY2019
Operating margin
27.4%
FY2012FY2019
Net income
$436 million
+20.0% on the year
FY2012FY2019
Diluted EPS
$1.38
+9.5% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
1,488
1,328
1,216
+12.1%
Operating income
408
n/a
n/a
Operating margin
27.4%
n/a
n/a
Interest expense
291
266
247
+9.4%
Pre-tax income
444
n/a
n/a
Income tax
6.2
5.3
6.0
+15.3%
Effective tax rate
1.4%
n/a
n/a
Net income
436
364
319
+20.0%
Net margin
29.3%
27.4%
26.2%
Diluted EPS
$1.38
$1.26
$1.10
+9.5%
$ million except per share. Read moreFree 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.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
1,069
941
876
+13.6%
Capital expenditure
23.5
25.4
15.2
-7.2%
Free cash flow
1,045
915
861
+14.2%
Free cash flow margin
70.2%
68.9%
70.8%
Cash from investing
-3,502
-1,640
-1,255
Cash from financing
2,493
708
375
+252.1%
Depreciation and amortisation
594
540
499
+10.0%
Share-based compensation
13.7
27.3
13.9
-49.9%
Dividends paid
852
762
689
+11.9%
Dividend per share
$2.71
$2.63
$2.53
+3.0%
Diluted shares, weighted
316m
290m
274m
+9.0%
Shares outstanding at period end
334m
304m
284m
+9.8%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
9,774
8,089
7,372
+20.8%
Non-controlling interest
29.7
32.2
19.2
-7.9%
Debt
7,902
6,500
6,111
+21.6%
Other liabilities
849
640
556
+32.8%
Total liabilities and equity
18,555
15,260
14,058
+21.6%
Goodwill
14.4
14.6
15.0
-1.4%
Intangible assets
1,493
1,200
1,195
+24.5%
Investments
0.0
n/a
n/a
Cash and equivalents
54.0
10.4
6.9
+420.0%
Other assets
16,993
14,036
12,841
+21.1%
Total assets
18,555
15,260
14,058
+21.6%
10-K for the year ended 31 December 2019, filed 24 February 2020: the filing.