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Realty Income Corp.

OReal Estate

Generated Aug 19, 2026, 09:41 PM UTC

analytical score -6

O (Realty Income Corp.) analytical snapshot. Revenue grew +9.1% YoY to $5.75B. 5-year revenue CAGR +22.5%; 10y CAGR +20.1%. Net margin at 18.41% (contracting ▼). Market cap $59.56B at $62.95 per share. Trailing P/E 53.80, P/S 10.36, P/B 1.51. EV/Operating income ≈ 201.24 (EV $63.69B). Risk: Moderate. Macro: Risk-on · Supportive. Composite analytical score -6 (data confidence 74%). Descriptive analytics from public filings — not investment advice.

Market cap

$59.56B

946.22M shares

Price

$62.95

NYQ

P/E (ttm)

53.80

Revenue (FY)

$5.75B

YoY +9.1%

Net margin

18.41%

▼ 7.59pp

Free cash flow

—

Risk level

Moderate

Free SEC analysis

— computed from SEC filings, free to read

Free previewRegulatory Analyst

Filings & Ownership

Regulatory Analyst

score 20Improving

80% conf

Latest annual report (10-K) filed Feb 25, 2026. Latest quarterly report (10-Q) filed Aug 6, 2026. 36 recent 8-K material-event filings in the index.

Latest annual report (10-K) filed Feb 25, 2026.
Latest quarterly report (10-Q) filed Aug 6, 2026.
36 recent 8-K material-event filings in the index.
Recent insider Form 4s: 0 buy vs 0 sell transactions.
~10,000+ recent 13F-HR filings reference Realty Income Corp.; broad institutional reporting.
Recent filers include Pathway Financial Advisers, LLC, Pathway Financial Advisers, LLC, Pathway Financial Advisers, LLC.
20 recent 13G passive institutional ownership notices.

Latest 10-K

Feb 25, 2026

Annual report

Latest 10-Q

Aug 6, 2026

8-K (recent)

Insider net

—

0B/0S

13F filers

10k+

Activist 13D

Recent 13F institutional filers (SEC EDGAR full-text)

Filer	Form	Filed
Pathway Financial Advisers, LLC	13F-HR	Jul 19, 2024
Pathway Financial Advisers, LLC	13F-HR	Aug 20, 2024
Pathway Financial Advisers, LLC	13F-HR	Jul 19, 2024
Pathway Financial Advisers, LLC	13F-HR	Jul 19, 2024
Fox Point Capital Management LLC	13F-HR	May 13, 2016

Recent 8-K material events

Date	Form	Description
Aug 14, 2026	8-K	FORM 8-K
Aug 12, 2026	8-K	FORM 8-K
Aug 11, 2026	8-K	FORM 8-K
Aug 5, 2026	8-K	8-K
Jul 13, 2026	8-K	FORM 8-K
Jul 7, 2026	8-K	FORM 8-K
Jun 30, 2026	8-K	FORM 8-K
Jun 29, 2026	8-K	FORM 8-K

Sources:SEC EDGAR — Company Filings SEC EDGAR — Full-Text Search

Free previewSEC Filing Analyst

SEC Filing Deep-Analysis

SEC Filing Analyst

score -9Stable

62% conf

1 risk signal(s), 1 positive signal(s), 1 watch item(s) detected from XBRL filing diff analysis. Revenue grew +9.1% but receivables grew +20.0% — the receivables-to-revenue gap suggests growth may be partially driven by extended credit terms rather than genuine demand. If DSO continues to rise, a revenue reversal or bad-debt charge could follow.

Receivables outpacing revenue: Accounts receivable grew +20.0% YoY vs revenue growth of +9.1%. The +11.0% spread suggests extended credit terms, channel stuffing risk, or collection deterioration. Investigate the allowance for doubtful accounts and DSO trend.
Operating cash flow exceeds net income: OCF is 3.77x net income, indicating high earnings quality — cash conversion is strong and accruals are not inflating reported profits.
NEW: Off-balance sheet arrangements: Off-balance sheet arrangements appears in recent filings but not in the prior 24-month period. Monitor for materiality.
Endogenous analysis: Revenue grew +9.1% but receivables grew +20.0% — the receivables-to-revenue gap suggests growth may be partially driven by extended credit terms rather than genuine demand. If DSO continues to rise, a revenue reversal or bad-debt charge could follow.
18 new XBRL disclosure(s) in latest filing — expanding reporting scope.
20 disclosure(s) dropped from prior year — reduced reporting granularity.
1 new risk-language term(s) detected in filing text: Off-balance sheet arrangements.

Revenue

$5.75B

+9.1% YoY

Operating income

$316.5M

+11.1% YoY

Net income

$1.06B

+23.0% YoY

Operating cash flow

$3.99B

+11.8% YoY

Total assets

$72.80B

+5.8% YoY

Total liabilities

$32.67B

+9.7% YoY

Long-term debt

$3.98B

+8.9% YoY

Cash & equivalents

$434.8M

-2.3% YoY

Filing quality score

80/100

18 new disclosures

SEC XBRL metric changes (latest annual vs prior)

Metric	Prior year	Latest year	Change	% Change
Revenue	$5.27B	$5.75B	$478.2M	+9.1%
Operating income	$284.9M	$316.5M	$31.6M	+11.1%
Net income	$860.8M	$1.06B	$197.8M	+23.0%
Operating cash flow	$3.57B	$3.99B	$421.5M	+11.8%
Total assets	$68.84B	$72.80B	$3.96B	+5.8%
Total liabilities	$29.78B	$32.67B	$2.89B	+9.7%
Long-term debt	$3.65B	$3.98B	$325.0M	+8.9%
Cash & equivalents	$445.0M	$434.8M	$-10.1M	-2.3%
Stockholders equity	$38.84B	$39.44B	$598.0M	+1.5%
Accounts receivable	$877.7M	$1.05B	$175.8M	+20.0%
Interest expense	$465.2M	$730.4M	$265.2M	+57.0%

XBRL disclosure changes (new vs dropped concepts)

Type	Concepts
Added	AllocatedShareBasedCompensationExpense, AmortizationOfAboveAndBelowMarketLeases, DeferredTaxLiabilities, GuaranteeObligationsMaximumExposure, GuaranteesFairValueDisclosure, InterestAndDividendIncomeOperatingPaidInKind, InterestAndDividendIncomeSecurities, InterestAndFeeIncomeLoansAndLeases, MinorityInterestDecreaseFromRedemptions, NetInvestmentInLeaseAfterAllowanceForCreditLoss
Removed	AreaOfRealEstateProperty, AssetAcquisitionContingentConsiderationLiability, CurrentFederalTaxExpenseBenefit, CurrentForeignTaxExpenseBenefit, CurrentIncomeTaxExpenseBenefit, CurrentStateAndLocalTaxExpenseBenefit, DeferredFederalIncomeTaxExpenseBenefit, DeferredFederalStateAndLocalTaxExpenseBenefit, DeferredForeignIncomeTaxExpenseBenefit, DeferredIncomeTaxExpenseBenefit

Risk language in filing text (EDGAR full-text search)

Term	Severity	Recent	Prior	Status
Restructuring	medium	5	4	Ongoing
Off-balance sheet arrangements	medium	5	0	NEW
Related party transactions	low	5	2	Ongoing

Filing signal breakdown

Red flags: 1

Positive: 1

Watch: 1

Red flags

Positive

Watch

Sources:SEC EDGAR — Company Facts (XBRL)SEC EDGAR — Financial Reports

Free previewFundamentals Analyst

Fundamentals

Fundamentals Analyst

score -5Stable

60% conf

Revenue grew +9.1% YoY to $5.75B. 5-year revenue CAGR +22.5%; 10y CAGR +20.1%. Net margin at 18.41% (contracting ▼).

Revenue grew +9.1% YoY to $5.75B.
5-year revenue CAGR +22.5%; 10y CAGR +20.1%.
Net margin at 18.41% (contracting ▼).
Return on equity 2.68%, ROA 1.45%, ROIC 0.00%.
Gross margin 0.00%, operating margin 0.00%.
Net income up ▲ +23.0% YoY.
Debt/equity 0.12, current ratio —, net debt $4.12B.
Asset turnover 0.08 — capital efficiency.

Revenue (FY)

$5.75B

YoY +9.1%

Net margin

18.41%

▼ 7.59pp

ROE

2.68%

ROA 1.45%

ROIC

0.00%

EPS (diluted)

$1.17

FY2025

Free cash flow

—

Debt / equity

0.12

Cash $552.6M

Current ratio

—

Equity $39.55B

Annual fundamentals — up to 10 years (SEC 10-K, US-GAAP)

FY	Revenue	Rev YoY	Gross%	Op%	Net%	FCF	ROE%
2024	$5.27B	+29.2%	0.00	0.00	16.33	—	2.22
2025	$5.75B	+9.1%	0.00	0.00	18.41	—	2.68

Quarterly revenue trend (last 6 quarters, SEC 10-Q)

Quarter end	Revenue	YoY	QoQ	Net margin
Sep 30, 2024	$1.33B	+28.1%	—	20.25%
Mar 31, 2025	$1.38B	+9.5%	+3.7%	18.10%
Jun 30, 2025	$1.41B	+5.3%	+2.2%	13.96%
Sep 30, 2025	$1.47B	+10.5%	+4.3%	21.47%
Mar 31, 2026	$1.55B	+12.2%	+5.3%	—
Jun 30, 2026	$1.55B	+9.7%	-0.1%	—

Sources:SEC EDGAR — Company Facts (XBRL)

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Pro analysis — preview

— score, signals & key metrics shown; full reasoning locked

Valuation

Valuation Analyst

score -20Deteriorating

83% conf

Market cap $59.56B at $62.95 per share. Trailing P/E 53.80, P/S 10.36, P/B 1.51. EV/Operating income ≈ 201.24 (EV $63.69B).

Market cap $59.56B at $62.95 per share.

Market cap

$59.56B

946.22M shares

P/E (ttm)

53.80

P/S

10.36

P/B

1.51

$63.69B

Intrinsic (DCF)

—

ProFull breakdown & reasoning locked

Price & Technicals

Technical Analyst

score -5Stable

85% conf

Price $62.95 — uptrend (above 200-DMA); 1-month momentum negative. RSI(14) 36.25.

Price $62.95 — uptrend (above 200-DMA); 1-month momentum negative.

Price

$62.95

NYQ

RSI(14)

36.25

50-DMA

$63.14

200-DMA

$61.54

Volatility (ann.)

16.42%

52w range

$55.86–$67.94

-7.3% from high

ProFull breakdown & reasoning locked

Macro & Rates

Macro Analyst

score 30Improving

80% conf

Risk-on · Supportive. Real GDP growth 1.50% (quarterly, as of Apr 1, 2026). CPI inflation +3.3% YoY. Fed funds rate 3.63%, 10Y Treasury 4.71%.

Market regime: Risk-on · Supportive.

GDP growth

1.50%

CPI (YoY)

+3.3%

Fed funds

3.63%

10Y yield

4.71%

10Y−2Y

0.46pp

Unemployment

4.10%

ProFull breakdown & reasoning locked

Risk Scorecard

Risk Analyst

score -12Stable

83% conf

Composite risk Moderate. Leverage debt/equity 0.12 (low). Earnings stability: net-margin stdev 12.39pp over 14y.

Composite risk: Moderate.

Risk level

Moderate

Debt / equity

0.12

Current ratio

—

Margin stdev

12.39pp

Cash / assets

0.72%

Liab / assets

45.14%

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Macro exposure

Rate-sensitive · High sensitivity

Neutral

Macro regime: Risk-on · Supportive. Realty Income Corp. is a rate-sensitive name (high macro sensitivity) — a supportive backdrop, though defensives lag risk-on tapes.

Macro regime

Risk-on · Supportive

Yield curve

Normal

VIX

15.84

Fed funds

3.63%

CPI YoY

+3.3%

Analytical read

deterministic preview

Market regime: Risk-on · Supportive..

Risk

Moderate

Macro regime

Risk-on · Supportive

Macro exposure

Neutral

Descriptive analytics from public filings and macro data — not investment advice.

Open analytical workspace

Peer comparison

Rate-sensitive group

How O stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.

Company	Score	Macro
Allstate Corp. ALL	30	Neutral
Visa Inc. V	24	Neutral
CME Group Inc. CME	22	Neutral
Capital One Financial COF	21	Neutral
Charles Schwab Corp. SCHW	19	Neutral
American Express Co. AXP	16	Neutral
Digital Realty Trust DLR	11	Neutral
Mastercard Inc. MA	11	Neutral
U.S. Bancorp USB	10	Neutral
Travelers Cos. TRV	10	Neutral
Simon Property Group SPG	9	Neutral
Welltower Inc. WELL	9	Neutral
Chubb Ltd. CB	8	Neutral
MetLife Inc. MET	7	Neutral
JPMorgan Chase & Co. JPM	7	Neutral
Dominion Energy D	4	Neutral
Bank of America Corp. BAC	3	Neutral
Moody's Corp. MCO	2	Neutral
PNC Financial Services PNC	2	Neutral
BlackRock Inc. BLK	1	Neutral
American Tower Corp. AMT	0	Neutral
American Electric Power AEP	0	Neutral
Bank of New York Mellon BK	0	Neutral
Marsh & McLennan MMC	0	Neutral
Wells Fargo & Co. WFC	0	Neutral
Truist Financial TFC	-1	Neutral
American Water Works AWK	-2	Neutral
Equinix Inc. EQIX	-4	Neutral
Goldman Sachs Group GS	-4	Neutral
Prologis Inc. PLD	-5	Neutral
Xcel Energy XEL	-5	Neutral
Public Storage PSA	-5	Neutral
Citigroup Inc. C	-5	Neutral
Realty Income Corp. O● you	-6	Neutral
Equity Residential EQR	-10	Neutral
NextEra Energy NEE	-13	Neutral
Southern Company SO	-14	Neutral
Morgan Stanley MS	-14	Neutral
Duke Energy Corp. DUK	-16	Neutral
Exelon Corp. EXC	-17	Neutral
S&P Global SPGI	-19	Neutral
American International Group AIG	-20	Neutral
Crown Castle Inc. CCI	-21	Neutral