Realty Income (O) FY2024 results: revenue $5.3 billion, up 29.2% on the year
Realty Income Corp. (O) reported revenue of $5.3 billion for fiscal 2024, the year ended 31 December 2024, up 29.2% on the year before. Net income was $861 million, down 1.3%, and diluted earnings per share $0.98. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2025.
Revenue
$5.3 billion
+29.2% on the year
FY2017FY2024
Operating margin
14.8%
21.8% a year earlier
FY2017FY2024
Net income
$861 million
-1.3% on the year
FY2017FY2024
Diluted EPS
$0.98
-22.2% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
3,573
2,959
2,564
+20.8%
Capital expenditure
121
68.7
95.5
+76.7%
Free cash flow
3,452
2,890
2,468
+19.4%
Free cash flow margin
65.5%
70.9%
73.8%
Cash from investing
-3,343
-9,355
-8,387
Cash from financing
-21.2
6,437
5,738
Depreciation and amortisation
2,396
1,895
1,670
+26.4%
Share-based compensation
57.5
26.2
21.6
+119.2%
Dividends paid
2,692
2,112
1,813
+27.5%
Dividend per share
$3.13
$3.05
$2.97
+2.4%
Diluted shares, weighted
864m
693m
612m
+24.6%
Shares outstanding at period end
892m
752m
660m
+18.5%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
38,841
32,941
28,713
+17.9%
Non-controlling interest
211
166
130
+27.5%
Redeemable equity
0.0
0.0
0.0
Debt
26,227
21,520
18,111
+21.9%
Other liabilities
3,556
3,152
2,719
+12.8%
Total liabilities and equity
68,835
57,779
49,673
+19.1%
Goodwill
4,932
3,731
3,731
+32.2%
Intangible assets
6,323
5,018
5,168
+26.0%
Loans
n/a
205
n/a
Cash and equivalents
445
233
171
+91.0%
Other assets
57,135
48,592
40,602
+17.6%
Total assets
68,835
57,779
49,673
+19.1%
10-K for the year ended 31 December 2024, filed 25 February 2025: the filing.