Realty Income (O) FY2020 results: revenue $1.6 billion, up 10.7% on the year
Realty Income Corp. (O) reported revenue of $1.6 billion for fiscal 2020, the year ended 31 December 2020, up 10.7% on the year before. Net income was $395 million, down 9.4%, and diluted earnings per share $1.14. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2021.
Revenue
$1.6 billion
+10.7% on the year
FY2013FY2020
Operating margin
20.4%
27.4% a year earlier
FY2013FY2020
Net income
$395 million
-9.4% on the year
FY2013FY2020
Diluted EPS
$1.14
-17.4% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,647
1,488
1,328
+10.7%
Operating income
336
408
n/a
-17.7%
Operating margin
20.4%
27.4%
n/a
Interest expense
309
291
266
+6.3%
Pre-tax income
411
444
n/a
-7.3%
Income tax
14.7
6.2
5.3
+138.6%
Effective tax rate
3.6%
1.4%
n/a
Net income
395
436
364
-9.4%
Net margin
24.0%
29.3%
27.4%
Diluted EPS
$1.14
$1.38
$1.26
-17.4%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,116
1,069
941
+4.4%
Capital expenditure
8.7
23.5
25.4
-63.0%
Free cash flow
1,107
1,045
915
+5.9%
Free cash flow margin
67.2%
70.2%
68.9%
Cash from investing
-2,032
-3,502
-1,640
Cash from financing
1,692
2,493
708
-32.1%
Depreciation and amortisation
677
594
540
+14.0%
Share-based compensation
16.5
13.7
27.3
+20.8%
Dividends paid
964
852
762
+13.1%
Dividend per share
$2.79
$2.71
$2.63
+3.1%
Diluted shares, weighted
345m
316m
290m
+9.3%
Shares outstanding at period end
361m
334m
304m
+8.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
10,985
9,774
8,089
+12.4%
Non-controlling interest
32.2
29.7
32.2
+8.6%
Debt
8,817
7,902
6,500
+11.6%
Other liabilities
905
849
640
+6.6%
Total liabilities and equity
20,740
18,555
15,260
+11.8%
Goodwill
14.2
14.4
14.6
-1.7%
Intangible assets
1,711
1,493
1,200
+14.5%
Investments
n/a
0.0
n/a
Cash and equivalents
824
54.0
10.4
+1,426.5%
Other assets
18,191
16,993
14,036
+7.0%
Total assets
20,740
18,555
15,260
+11.8%
10-K for the year ended 31 December 2020, filed 23 February 2021: the filing.