Realty Income Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Rental Revenue	5,437	5,044	3,958	3,300	2,065
Other Revenue	17.21	10.93	123.39	37.58	16.61
Total Revenue	5,763	5,279	4,082	3,337	2,082
Revenue Growth (YoY	9.16%	29.34%	22.30%	60.32%	26.38%
Property Expenses	428.8	377.68	316.96	226.33	133.61
Selling, General & Administrative	202.55	176.9	144.54	138.46	96.98
Depreciation & Amortization	2,524	2,396	1,895	1,670	897.84
Other Operating Expenses	-	4.49	-	-	-
Total Operating Expenses	3,192	3,062	2,357	2,035	1,128
Operating Income	2,570	2,217	1,725	1,302	953.15
Interest Expense	-1,135	-1,017	-730.42	-465.22	-323.64
Currency Exchange Gain (Loss)	-28.65	3.42	-13.41	-13.31	0.71
Other Non-Operating Income	29.42	23.61	23.79	30.51	9.95
EBT Excluding Unusual Items	1,436	1,227	1,005	854.03	640.16
Merger & Restructuring Charges	-24.21	-86.7	-14.46	-13.9	-167.41
Gain (Loss) on Sale of Assets	177.64	117.28	25.67	102.96	55.8
Asset Writedown	-434.5	-319.03	-87.08	-25.86	-38.97
Other Unusual Items	-	-5.1	-	0.37	-97.18
Pretax Income	1,155	933.94	928.94	917.6	392.4
Income Tax Expense	85.35	66.6	52.02	45.18	31.66
Earnings From Continuing Operations	1,070	867.34	876.91	872.42	360.75
Minority Interest in Earnings	-11.19	-6.57	-4.61	-3.01	-1.29
Net Income	1,059	860.77	872.31	869.41	359.46
Preferred Dividends & Other Adjustments	-	12.88	-	-	-
Net Income to Common	1,059	847.89	872.31	869.41	359.46
Net Income Growth	22.98%	-1.32%	0.33%	141.87%	-9.11%
Basic Shares Outstanding	907	863	692	612	415
Diluted Shares Outstanding	908	864	693	612	415
Shares Change (YoY)	5.16%	24.64%	13.21%	47.59%	20.08%
EPS (Basic)	1.17	0.98	1.26	1.42	0.87
EPS (Diluted)	1.17	0.98	1.26	1.42	0.87
EPS Growth	19.07%	-22.22%	-11.27%	63.76%	-23.94%
Dividend Per Share	3.219	3.133	3.059	2.969	2.845
Dividend Growth	2.74%	2.42%	3.03%	4.36%	1.57%
Operating Margin	44.60%	42.00%	42.26%	39.02%	45.79%
Profit Margin	18.37%	16.06%	21.37%	26.05%	17.27%
EBITDA	5,114	4,648	3,682	3,028	1,851
EBITDA Margin	88.73%	88.04%	90.20%	90.73%	88.92%
D&A For Ebitda	2,543	2,430	1,957	1,726	897.84
EBIT	2,570	2,217	1,725	1,302	953.15
EBIT Margin	44.60%	42.00%	42.26%	39.02%	45.79%
Funds From Operations (FFO)	3,860	3,468	-	-	-
FFO Per Share	4.25	4.01	-	-	-
Adjusted Funds From Operations (AFFO)	3,886	3,621	-	-	-
AFFO Per Share	4.28	4.19	-	-	-
FFO Payout Ratio	75.66%	77.62%	-	-	-
Effective Tax Rate	7.39%	7.13%	5.60%	4.92%	8.07%
Revenue as Reported	5,749	5,271	4,079	3,344	2,080

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.