O (Realty Income Corporation) Stock Financials & Earnings | Market Cap Arena

O (Realty Income Corporation) Stock Financials & Earnings | Market Cap Arena

ORealty Income Corporation

Mkt Cap$61B

Real Estate·REIT - Retail·🇺🇸 United States·NYSE

Revenue (TTM)$5.7B

Net Income (TTM)$1.1B

EPS (TTM)$1.17

Free Cash Flow (TTM)$3.9B

Gross Margin89.8%

Op. Margin28.3%

Net Margin18.4%

FCF Margin68.6%

P/S Ratio (TTM)10.6x

P/E Ratio (TTM)57.6x

YoY Rev Growth+9.1%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$944M	$875M	$389M
Q2 23	$1.0B	$925M	$415M
Q3 23	$1.0B	$968M	$437M
Q4 23	$1.1B	$994M	$481M
Q1 24	$1.3B	$1.2B	$549M
Q2 24	$1.3B	$1.2B	$580M
Q3 24	$1.3B	$1.2B	$595M
Q4 24	$1.3B	$1.2B	$588M
Q1 25	$1.4B	$1.3B	$621M
Q2 25	$1.4B	$1.3B	$605M
Q3 25	$1.5B	$1.4B	$674M
Q4 25	$1.5B	$1.2B	-$273M

Valuation

Quarter	P/S	P/E
Q1 23	17.5x	68.2x
Q2 23	16.5x	70.4x
Q3 23	15.7x	69.2x
Q4 23	15.0x	70.0x
Q1 24	13.9x	78.3x
Q2 24	12.9x	72.3x
Q3 24	12.2x	69.4x
Q4 24	11.6x	70.9x
Q1 25	11.3x	62.4x
Q2 25	11.2x	66.6x
Q3 25	10.9x	63.4x
Q4 25	10.6x	57.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$731M	$717M
Q2 23	$735M	$719M
Q3 23	$732M	$714M
Q4 23	$761M	$739M
Q1 24	$779M	$779M
Q2 24	$981M	$981M
Q3 24	$841M	$841M
Q4 24	$972M	$972M
Q1 25	$788M	$788M
Q2 25	$1.1B	$1.1B
Q3 25	$943M	$943M
Q4 25	$1.2B	$1.2B

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$14M
Q2 23	$16M
Q3 23	$18M
Q4 23	$22M
Q1 24	$0
Q2 24	$0
Q3 24	$0
Q4 24	$0
Q1 25	$0
Q2 25	$0
Q3 25	$0
Q4 25	$49M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+17.0%	+13.6%
Q2 23	+25.8%	+21.8%
Q3 23	+24.1%	+19.0%
Q4 23	+21.1%	+9.4%
Q1 24	+33.5%	+28.1%
Q2 24	+31.4%	+25.8%
Q3 24	+28.1%	+22.3%
Q4 24	+24.5%	+26.2%
Q1 25	+9.5%	+6.8%
Q2 25	+5.3%	+6.0%
Q3 25	+10.5%	+8.2%
Q4 25	+11.0%	+134.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$6M	0.7%
Q2 23	$8M	0.7%
Q3 23	$6M	0.6%
Q4 23	$6M	0.6%
Q1 24	$34M	2.7%
Q2 24	$7M	0.5%
Q3 24	$6M	0.5%
Q4 24	$10M	0.7%
Q1 25	$6M	0.4%
Q2 25	$8M	0.6%
Q3 25	$8M	0.5%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A
Q1 23	$34M
Q2 23	$37M
Q3 23	$36M
Q4 23	$38M
Q1 24	$41M
Q2 24	$45M
Q3 24	$42M
Q4 24	$49M
Q1 25	$44M
Q2 25	$49M
Q3 25	$42M
Q4 25	$118M

Revenue Segments

Quarter

Revenue by Geography

Quarter	Other	Other Geographic Region	United Kingdom	United States
Q1 25	$67M	$39M	$151M	$1.1B
Q2 25	$72M	$52M	$170M	$1.1B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$165M	$0	$165M
Q2 23	$254M	$0	$254M
Q3 23	$344M	$0	$344M
Q4 23	$233M	$0	$233M
Q1 24	$680M	$0	$680M
Q2 24	$443M	$0	$443M
Q3 24	$397M	$0	$397M
Q4 24	$445M	$0	$445M
Q1 25	$319M	$0	$319M
Q2 25	$800M	$0	$800M
Q3 25	$417M	$0	$417M
Q4 25	$435M	$0	$435M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	661M	+4.0%
Q2 23	675M	+2.0%
Q3 23	710M	+5.2%
Q4 23	727M	+2.4%
Q1 24	835M	+14.9%
Q2 24	871M	+4.2%
Q3 24	872M	+0.2%
Q4 24	880M	+0.9%
Q1 25	892M	+1.4%
Q2 25	904M	+1.3%
Q3 25	915M	+1.3%
Q4 25	905M	-1.1%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$7M	125
FY 15	$8M	132
FY 16	$8M	146
FY 17	$8M	152
FY 18	$8M	165
FY 19	$8M	194
FY 20	$8M	210
FY 21	$6M	371
FY 22	$8M	395
FY 23	$10M	418
FY 24	$11M	468
FY 25	$11M	544