Realty Income (O) 10-K Summaries & Annual Filing History
Review Realty Income Corporation (O) 10-K filings from 2023 through the latest annual report, including business, financial performance, risks, and liquidity.
Key takeaway
Year ended Dec 31, 2025 · FY2025 10-K
Realty Income is a real estate investment trust that partners with leading companies. The company owns a large portfolio of properties across the United States and Europe and is known for its monthly dividend.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$5.7B
Revenue reported for the fiscal year.
Operating income
n/a
Income from operations reported for the year.
Net income
$1.1B
Net income reported for the year.
Operating cash flow
$4B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2022 | $3.3B | +60.7% |
| Dec 31, 2023 | $4.1B | +22.0% |
| Dec 31, 2024 | $5.3B | +29.2% |
| Dec 31, 2025 | $5.7B | +9.1% |
Business overview
The company serves as a full-service real estate capital provider, offering capital solutions to clients. Its portfolio includes properties across the United States and several European countries. The company is known as The Monthly Dividend Company.
Financial performance
Revenue increased compared to the prior period, reflecting continued growth. Net income and operating cash flow were reported, indicating positive financial results.
Material risks
The company faces risks of equity dilution from future issuances of common or preferred stock. It also has significant debt obligations, including borrowings under credit facilities and commercial paper programs, which expose it to financing risks.
Liquidity and capital
The company relies on raising additional capital for growth, which may involve equity or debt financing. It has outstanding debt under various facilities and programs.
What to watch
Investors should monitor the company's debt levels and its use of credit facilities and commercial paper programs in future filings.