Realty Income (O) FY2023 results: revenue $4.1 billion, up 22.0% on the year
Realty Income Corp. (O) reported revenue of $4.1 billion for fiscal 2023, the year ended 31 December 2023, up 22.0% on the year before. Net income was $872 million, up 0.3%, and diluted earnings per share $1.26. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2024.
Revenue
$4.1 billion
+22.0% on the year
FY2016FY2023
Operating margin
21.8%
24.0% a year earlier
FY2016FY2023
Net income
$872 million
+0.3% on the year
FY2016FY2023
Diluted EPS
$1.26
-11.3% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
2,959
2,564
1,322
+15.4%
Capital expenditure
68.7
95.5
19.1
-28.1%
Free cash flow
2,890
2,468
1,303
+17.1%
Free cash flow margin
70.9%
73.8%
62.6%
Cash from investing
-9,355
-8,387
-6,438
Cash from financing
6,437
5,738
4,577
+12.2%
Depreciation and amortisation
1,895
1,670
898
+13.5%
Share-based compensation
26.2
21.6
41.8
+21.3%
Dividends paid
2,112
1,813
1,169
+16.5%
Dividend per share
$3.05
$2.97
$2.83
+2.8%
Diluted shares, weighted
693m
612m
415m
+13.2%
Shares outstanding at period end
752m
660m
591m
+14.0%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
32,941
28,713
25,053
+14.7%
Non-controlling interest
166
130
76.8
+27.2%
Redeemable equity
0.0
0.0
0.0
Debt
21,520
18,111
15,443
+18.8%
Other liabilities
3,152
2,719
2,565
+15.9%
Total liabilities and equity
57,779
49,673
43,138
+16.3%
Goodwill
3,731
3,731
3,677
0.0%
Intangible assets
5,018
5,168
5,275
-2.9%
Loans
205
n/a
n/a
Cash and equivalents
233
171
259
+36.1%
Other assets
48,592
40,602
33,927
+19.7%
Total assets
57,779
49,673
43,138
+16.3%
10-K for the year ended 31 December 2023, filed 21 February 2024: the filing.