Stocks · Real Estate · REIT - Retail
Realty Income Corporation O
$54.13 +1.12% Close, Oct 2, 2026 · NYSE · Market cap $50.48B
High qualityLow risk
Next earnings report: Nov 2, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Operating margin narrowed to 29.2% from 44.1% a year earlier.
- The shares trade at 39.5× trailing earnings, lower than 95% of the company's own readings over the past five years.
- The stock is in a downtrend: below its 200-day average, with the 50-day average below the 200-day.
PromtFinance scores
Each score is a percentile within the Real Estate sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
Growth54Neutral
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 43%
- EPS growth (TTM, YoY)Top 34%
- FCF growth (TTM, YoY)Bottom 24%
- Revenue growth, 3-year CAGRTop 13%
- Revenue growth accelerationBottom 27%
Quality88Strong
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalBottom 33%
- Gross marginTop 28%
- Operating marginTop 42%
- Cash conversion (OCF / net income)Top 13%
- Accruals (lower is better)Top 41%
- Net debt / EBITDA (lower is better)Top 6%
- Interest coverTop 42%
Value71Positive
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 47%
- Free-cash-flow yieldBottom 43%
- EBITDA / enterprise valueTop 24%
- Sales / enterprise valueTop 50%
- P/E vs own 5-year history (lower is better)Top 18%
Momentum39Weak
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 48%
- 6-month returnBottom 30%
- 1-year return vs S&P 500Bottom 44%
- Distance from 52-week highBottom 49%
- Trend checklist (0–4)Bottom 22%
Revisions15Very weak
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersBottom 31%
- Consecutive EPS beatsBottom 18%
- Share of analysts rating BuyBottom 34%
- Upside to consensus price targetBottom 41%
Stability100Exceptional
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 8%
- Maximum drawdown, 3 yearsTop 10%
- Beta vs S&P 500 (lower is better)Top 13%
- Net debt / EBITDA (lower is better)Top 6%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 9.8% | 8.6% | ↓ |
| EPS growth (YoY) | 10.9% | 33.0% | ↑ |
| Gross margin | 92.6% | 68.6% | ↓ |
| Operating margin | 44.1% | 29.2% | ↓ |
| FCF margin | 65.8% | 36.8% | ↓ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 8.6% | 9.8% | ↓ | Top 43% |
| EPS growth (TTM, YoY) | 33.0% | 10.9% | ↑ | Top 34% |
| Gross margin | 68.6% | 92.6% | ↓ | Top 28% |
| Operating margin | 29.2% | 44.1% | ↓ | Top 42% |
| Net margin | 22.3% | 16.8% | ↑ | — |
| Free-cash-flow margin | 36.8% | 65.8% | ↓ | — |
| Return on invested capital | 2.3% | — | Bottom 33% | |
| Revenue growth, 3-year CAGR | 19.8% | — | Top 13% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 3.00×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -3.7%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 0.6%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -80.6 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 0.50×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 1.5×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 5.94%
- Net buyback yield (TTM)
- -3.66%
- Shareholder yield
- 2.28%
- Share count change, 1 year
- +3.4%
- Share count change, 3-year CAGR
- +11.5%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 6, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 0
- Beats in the last 8 reports
- 0 of 8
- Average EPS surprise, last 4
- -11.3%
- Average 2-day reaction, last 8
- +0.4%
- Positive 20 days after report
- 1 of 8
Analysts
- Consensus price target
- $64.80
- Target vs current price
- +19.7%
- Analysts with a rating
- 34
- Share rating Buy or Strong Buy
- 38%
- Consensus rating
- Hold
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Aug 5, 2026 | -7.0% | -0.3% | -1.6% | -2.4% | — |
| May 6, 2026 | -7.0% | +0.7% | -1.6% | -6.1% | +0.5% |
| Feb 24, 2026 | -16.6% | -0.2% | +1.3% | -8.7% | -6.9% |
| Nov 3, 2025 | -14.7% | +0.4% | -1.9% | -0.9% | +4.8% |
| Aug 4, 2025 | -45.3% | +1.6% | +1.5% | +3.9% | +6.8% |
| May 5, 2025 | -22.2% | -0.0% | -0.5% | -0.7% | -0.3% |
| Feb 24, 2025 | -39.5% | +0.4% | -0.1% | -2.3% | -1.5% |
| Nov 4, 2024 | -16.7% | +0.7% | -2.3% | -3.7% | -7.2% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Aug 5, 2026 | $0.37 | $0.40 | -7.0% | $1.43B |
| May 6, 2026 | $0.37 | $0.40 | -7.0% | $1.43B |
| Feb 24, 2026 | $0.32 | $0.38 | -16.6% | $1.40B |
| Nov 3, 2025 | $0.35 | $0.40 | -14.7% | $1.47B |
| Aug 4, 2025 | $0.22 | $0.40 | -45.3% | $1.41B |
| May 5, 2025 | $0.28 | $0.36 | -22.2% | $1.38B |
| Feb 24, 2025 | $0.23 | $0.38 | -39.5% | $1.34B |
| Nov 4, 2024 | $0.30 | $0.36 | -16.7% | $1.33B |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 39.5× | 55.3× | 5th | Bottom 47% |
| P/E (forward) | 35.6× | — | — | — |
| EV / EBITDA | 11.9× | — | — | Top 24% |
| EV / Sales | 8.88× | — | — | Top 50% |
| Free-cash-flow yield | 4.32% | — | — | Bottom 43% |
| Earnings yield | 2.53% | — | — | Bottom 47% |
P/E over the past five years
Range 38.4× – 69.6× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- -10.5%
- Earnings per share growth (TTM)
- +33.0%
- Change in P/E multiple
- -17.9%
Most of the move came from earnings growth.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✗ Price above 200-day average
- ✗ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 0
- 50-day average slope (20 days)
- -4.2%
- 200-day average slope (20 days)
- -0.0%
- Distance from 50-day average
- -10.7%
- Distance from 200-day average
- -12.4%
- RSI (14)
- 20.3
- Relative volume
- 0.87×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 15.2%
- Volatility vs own 5-year history
- 11th percentile · Low for this stock
- Beta vs S&P 500 (2 years, weekly)
- 0.19
- Correlation with S&P 500
- 0.16
- Current drawdown from 1-year high
- -19.9%
- Maximum drawdown, 3 years
- -20.8%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Apr 20, 2022 | Oct 30, 2023 | -38.3% | 384 days | Not yet recovered |
| Sep 2, 2021 | Sep 30, 2021 | -10.8% | 19 days | 17 days (Oct 25, 2021) |
| Nov 10, 2020 | Jan 13, 2021 | -10.7% | 43 days | 54 days (Apr 1, 2021) |
| Jan 4, 2022 | Mar 7, 2022 | -10.5% | 42 days | 28 days (Apr 14, 2022) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $50.48B
- P/E (TTM)
- 39.5
- EPS, diluted (TTM)
- $1.37
- Revenue (TTM)
- $5.93B
- Dividend yield
- 5.99%
- 52-week range
- $53.33 – $67.94
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $2.08B | $3.34B | $4.08B | $5.27B | $5.75B |
| Gross profit | $1.95B | $3.12B | $3.76B | $4.89B | $5.16B |
| Operating income | $952.0M | $1.31B | $1.72B | $2.32B | $1.63B |
| Net income | $359.5M | $869.4M | $872.3M | $860.8M | $1.06B |
| EPS (diluted) | $0.87 | $1.42 | $1.26 | $0.98 | $1.17 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.33B | $1.34B | $1.38B | $1.41B | $1.47B | $1.49B | $1.55B | $1.43B |
| Net income | $269.5M | $199.6M | $249.8M | $196.9M | $315.8M | $296.1M | $311.8M | $397.1M |
| EPS (diluted) | $0.30 | $0.23 | $0.28 | $0.22 | $0.35 | $0.32 | $0.33 | $0.37 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $1.32B | $2.56B | $2.96B | $3.57B | $3.99B |
| Capital expenditure | -$19.1M | -$95.5M | -$68.7M | -$121.4M | $0 |
| Free cash flow | $1.30B | $2.47B | $2.89B | $3.45B | $3.99B |
| Dividends paid | $0 | $0 | $0 | $0 | -$2.92B |
| Net share buybacks | $4.45B | $4.57B | $5.45B | $1.58B | $2.36B |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $552.6M
- Total assets
- $76.44B
- Total liabilities
- $34.51B
- Total debt
- $2.76B
- Net debt
- $2.21B
- Shareholders’ equity
- $39.55B
As of Jun 30, 2026 (filed Aug 6, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Sep 30, 2026 | $0.27 | Oct 15, 2026 |
| Aug 31, 2026 | $0.27 | Sep 15, 2026 |
| Jul 31, 2026 | $0.27 | Aug 14, 2026 |
| Jun 30, 2026 | $0.27 | Jul 15, 2026 |
| May 29, 2026 | $0.27 | Jun 15, 2026 |
| Apr 30, 2026 | $0.27 | May 15, 2026 |
| Mar 31, 2026 | $0.27 | Apr 15, 2026 |
| Feb 27, 2026 | $0.27 | Mar 13, 2026 |
Short interest
- Shares sold short
- 40,805,348
- Days to cover
- 6.71
- Change vs previous report
- -0.5%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- Nov 15, 2021
- 129-for-125
- Jan 3, 2005
- 2-for-1