Realty Income (O) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Realty Income

NYSE•Real Estate•REIT - Retail

$57.32+0.17(<0.01%)After hours

Market Cap

$53.44B

P/E

40.8x

P/S

8.8x

P/B

1.4x

Realty Income Corporation, an S&P 500 company, is real estate partner to the world's leading companies. They serve their clients as a full-service real estate capital provider. As of March 31, 2026, they have a portfolio of over 15,500 properties in all 50 U.S. states, the U.K., and eight other countries in Europe. They 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 founding, they have declared 673 consecutive monthly dividends and are a member of the S&P 500 Dividend Aristocrats index for having increased dividend for over 31 consecutive years. The firm was founded and incorporated in 1969 in Maryland and is based in San Diego, California.

How this company scores

GoodMetricSide Score: 77/100

Strongest: Cash & Earnings Quality (23/25); weakest: Balance Sheet & Red Flags (15/25).

Profitability19/25

Growth20/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality23/25

Strengths

Strong marginsRising earningsInterest easily coveredCash-backed earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 40.8x5y range 40.0x – 89.9x

Currently near its 20-quarter median.

P/S · 8.8x5y range 8.8x – 17.1x

Currently near its 20-quarter median.

P/B · 1.4x5y range 1.1x – 1.9x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Share Dilution

Red Flag

Shares outstanding increased 7.1% — significant dilution, likely from stock compensation or capital raises.

Price & Volume

Market Cap $53.44B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $6.05B
Q. Revenue: $1.55B
TTM EBITDA: $3.91B
TTM Op. Income: $1.37B
Q. Op. Income: $389.05M
TTM Net Income: $1.31B
Q. Net Income: $370.51M
EPS: $0.37
Shares Out.: $932.31M

$6.05B in TTM revenue grew 10.9% YoY, reaching $1.55B last quarter. TTM EBITDA of $3.91B and TTM operating income of $1.37B show growth is flowing through to the bottom line. TTM net income of $1.31B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 66.8%
Op. Margin: 25.1%
Net Margin: 23.9%

Op. margin of 25.1% is up 9.8% YoY — cost efficiency is improving. Net margin at 23.9% Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 40.8x
P/S Ratio: 8.8x
P/B Ratio: 1.4x

At 40.8x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 8.8x and P/B of 1.4x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 28% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $76.44B
Cash: $552.65M
Long-Term Debt: N/A
Book Value: $39.55B
D/E Ratio: N/A
Debt/EBITDA: 0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $1.15B
TTM Free Cash Flow: $4.00B
FCF Margin: 66.1%
FCF / Net Income: 3.1

TTM FCF of $4.00B on $1.15B in operating cash flow. The FCF / Net Income ratio of 3.1x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 5 consecutive quarters — an improving trend.