Is Realty Income (O) overvalued or fairly valued?

MarketChacha shows Realty Income's valuation in context — a trailing P/E of about 48.2, a forward P/E of about 39.3, a price-to-book of about 1.5 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Realty Income's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (3.77×) from reported figures — education, not a rating.

What is Realty Income's revenue?

Realty Income reported revenue of $5.7B for FY2025, with net profit of $1.1B, per official filings.

What is the share price of Realty Income (O)?

Realty Income last traded at $61.25 (-0.8% on the day), as of 9/4/2026 — a delayed quote shown for education, not investment advice.

Realty Income

O · NYSE · Real Estate · United States

Snapshot

TickerO

ExchangeNYSE

SectorReal Estate

IndustryREIT - Retail

CountryUnited States

Employees544

HeadquartersSan Diego, United States

Websitewww.realtyincome.com

Filings tracked25

About Realty Income

Realty Income Corporation, an S&P 500 company, is real estate partner to the world's leading companies. Founded in 1969, we serve our clients as a full-service real estate capital provider. As of June 30, 2026, we have a portfolio of over 15,500 properties in all 50 U.S. states, the U.K., and eight other countries in Europe. We are known as "The Monthly Dividend Company" and have a mission to invest in people and places to deliver dependable monthly dividends that increase over time. Since our founding, we have declared 674 consecutive monthly dividends and are a member of the S&P 500 Dividend Aristocrats index for having increased our dividend for over 31 consecutive years. Realty Income Corporation was founded in 1969 and was incorporated in Maryland.

Who owns it

Insiders0.1%
Institutions81.7%
Public & other18.2%

1,925 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.11.94%
Vanguard Portfolio Management LLC8.78%
State Street Corporation6.97%
Vanguard Capital Management LLC6.43%
Geode Capital Management, LLC3.30%
Bank of America Corporation2.02%
Morgan Stanley1.53%
Dimensional Fund Advisors LP1.42%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

Margin has compressed by about 3.0 points over the period — profitability is trending down.

Cash conversion3.77×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend21.4% → 18.4%

Margin has compressed by about 3.0 points over the period — profitability is trending down.

Return on equity2.7%

Latest ROE of 2.7% is on the low side — the business earns a modest return on shareholder capital.

Growth qualityrev 19% · PAT 10%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $1.5B · EPS 0.41

Est. earnings growth +23.9%

Next fiscal year

Rev $6.2B · EPS 1.56

Est. earnings growth -6.5%

Analyst consensus estimates — not the company's own guidance.

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P/E ROE ROCE Margins Market cap

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$5.7B

Net margin

18.4%

ROE

2.7%

Revenue CAGR (2y)

+18.7%

Profit CAGR (2y)

+10.2%

EPS (FY2025)

1.17

Net profit (FY2025)

$1.1B

Ask MarketChacha about O

Get a cited, plain-English answer — the “why”, not just data. Finance research only, never buy/sell advice.

Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$5.7B	$1.1B	1.17	18.4%	2.7%
FY2024	$5.3B	$860.8M	0.98	16.3%	2.2%
FY2023	$4.1B	$872.3M	1.26	21.4%	2.6%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$1.5B	$370.5M	0.37	23.9%
2026Q1	$1.5B	$320.9M	0.33	20.7%
2025Q3	$1.5B	$315.8M	0.35	21.5%
2025Q2	$1.4B	$196.9M	0.22	14.0%
2025Q1	$1.4B	$249.8M	0.28	18.1%
2024Q3	$1.3B	$269.5M	0.30	20.2%
2024Q2	$1.3B	$259.4M	0.29	19.4%
2024Q1	$1.3B	$132.3M	0.16	10.5%
2023Q3	$1.0B	$233.5M	0.33	22.5%
2023Q2	$1.0B	$195.4M	0.29	19.2%
2023Q1	$944.4M	$225.0M	0.34	23.8%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

10-Q filing
SEC8/6/2026
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC8/5/2026material
8-K — Material agreement, Termination of agreement, Material financial obligation, Other events, Exhibits
SEC7/13/2026material
8-K — Other events, Exhibits
SEC7/7/2026material
8-K — Other events, Exhibits
SEC6/30/2026material
8-K — Other events
SEC6/29/2026material
8-K — Shareholder vote results
SEC5/22/2026material
8-K — Other events, Exhibits
SEC5/8/2026material
10-Q filing
SEC5/7/2026
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC5/6/2026material
8-K — Other events, Exhibits
SEC4/7/2026material
8-K — Other events, Exhibits
SEC3/31/2026material
8-K — Other events
SEC3/30/2026material
8-K — Executive/director change, Reg FD disclosure, Exhibits
SEC3/2/2026material
10-K filing
SEC2/25/2026
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC2/24/2026material
8-K — Material financial obligation, Unregistered equity sale, Reg FD disclosure, Exhibits
SEC1/8/2026material
8-K — Other events, Exhibits
SEC1/6/2026material
8-K — Other events, Exhibits
SEC1/5/2026material

2025

8-K — Reg FD disclosure
SEC12/29/2025material
8-K — Reg FD disclosure, Exhibits
SEC12/2/2025material
8-K — Material agreement, Material financial obligation, Reg FD disclosure, Exhibits
SEC11/18/2025material
8-K — Other events, Exhibits
SEC11/7/2025material
10-Q filing
SEC11/4/2025
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC11/3/2025material

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.