Realty Income (O): analysis in plain words
Is Realty Income cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Realty Income (O) is listed on the NYSE and we classify it in real estate. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Realty Income according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Realty Income (O) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $59.22 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 40.6x | Price over earnings per share |
| Revenue growth | +10.2% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 21.8% | Profit for every 100 of sales |
| Net debt / EBITDA | 5.6x | Years of operating profit to repay debt |
| Dividend yield | 5.67% | Annual dividend over price |
| Market cap | $56.0 billion | What the stock market values it at |
The Realty Income figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any O figure that is not available shows as N/A: we do not estimate it.
How Realty Income makes money
Realty Income is a REIT that buys retail and industrial properties and leases them on long-term net leases, where tenants cover taxes, insurance and upkeep. Tenants include grocery, convenience, pharmacy and home improvement chains such as Dollar General and Walgreens, in the United States and Europe. It pays dividends monthly.
Over the last 12 months, Realty Income brought in revenue of $6.2 billion. For every 100 it sells, Realty Income keeps 92.6 after the direct cost of what it sells (gross margin) and 48.4 after all operating costs (operating margin).
Realty Income against its sector
To know whether a Realty Income figure is high or low you have to put it next to similar companies. This table compares Realty Income with the median of the 9 real estate companies Fintols covers, with data as of November 4, 2026.
| Figure | Realty Income | real estate median |
|---|---|---|
| P/E | 40.6x | 28.9x (9) |
| Revenue growth | +10.2% | +10.4% (9) |
| Net margin | 21.8% | 37.7% (9) |
| Dividend yield | 5.67% | 3.60% (9) |
| Net debt / EBITDA | 5.6x | 5.5x (9) |
In short, against the typical real estate company, Realty Income trades on a higher P/E, earns a thinner margin and pays a higher dividend yield. By size, Realty Income ranks number 7 of 7 real estate companies quoted in USD on Fintols.
The bull case for Realty Income
These are the strengths in the Realty Income figures as of November 4, 2026:
- Realty Income is selling more than a year ago: +10.2% in its latest quarter (the typical real estate company grew +10.4%).
- Its net margin over the last 12 months is 21.8% (sector median: 37.7%): Realty Income turns a large share of its sales into profit.
The main risk for Realty Income
Debt is heavy: Realty Income carries net debt equal to 5.6x its annual EBITDA. With high interest rates or a weak year, interest payments eat into what it can invest or pay out.
On top of that: realty Income pays out more in dividends than it earns (a 222% payout ratio): its 5.67% yield only holds up if profit recovers.
And, like the rest of real estate, Realty Income is exposed to interest rates, which raise its borrowing costs and lower property values, and vacant space.
Frequently asked questions about Realty Income
Is it a good time to buy Realty Income stock?
Fintols does not tell you whether to buy or sell Realty Income, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Realty Income stock trades at $59.22, 13% below its 52-week high ($67.94) and 11% above its low ($53.15). Its P/E is 40.6x against a real estate median of 28.9x, and 38.1x on the earnings analysts expect over the next 12 months. With Realty Income, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Realty Income pay a dividend?
Yes. As of November 4, 2026, Realty Income pays $3.26 per share a year, which at today's price is a yield of 5.67%. It uses 222% of its profit to pay it, more than it earns, which cannot last forever.
Is Realty Income stock expensive?
It depends on what you compare it with. On P/E, Realty Income trades at 40.6x its last 12 months of earnings: more expensive than the real estate median (28.9x). A high P/E alone does not make Realty Income expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Realty Income's competitors?
On Fintols we compare Realty Income with Equinix, Public Storage and Inmobiliaria Colonial, which are also in real estate. As of November 4, 2026, Equinix is worth $104.3 billion and trades on a P/E of 63.3; Public Storage is worth $64.0 billion and trades on a P/E of 36.0; Inmobiliaria Colonial is worth €3.3 billion and trades on a P/E of 9.7. Each has a side-by-side comparison with Realty Income below.
Realty Income competitors
- Equinix (EQIX) analysis · Realty Income vs Equinix comparison
- Public Storage (PSA) analysis · Realty Income vs Public Storage comparison
- Inmobiliaria Colonial (COL) analysis · Realty Income vs Inmobiliaria Colonial comparison
To understand Realty Income better
- Dividend Growth Investing: FCF Payout Ratio and Compounding
- How to Read a Balance Sheet: A Beginner's Guide
More companies like Realty Income: real estate stocks and S&P 500 companies. Open the full O analysis with its valuation and scenarios. Educational content about Realty Income, not investment advice.