REALTY INCOME CORP (O) closed fiscal year 2025 with a gross margin of 92.5 % and a net margin of 18.4 %.
REALTY INCOME CORP (O) closed fiscal year 2025 with a gross margin of 92.5 % and a net margin of 18.4 %. The same year shows an EBITDA margin of 83.2 % and an EBIT margin of 39.3 %. The free cash flow margin was 69.5 %. Against the previous year the gross margin moved −0.3 pp and the net margin +2.1 pp. Across the period the gross margin ranges between 92.2 % in 2023 and 93.2 % in 2022. The series covers 18 fiscal years, from 2008 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 93.23 % | 92.23 % | 92.84 % | 92.54 % |
| EBITDA margin (%) | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 89.09 % | 88.69 % | 82.10 % | 83.24 % |
| EBIT margin (%) | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 39.13 % | 42.22 % | 36.65 % | 39.34 % |
| Net margin (%) | 40.56 % | 40.65 % | 38.07 % | 37.29 % | 34.08 % | 32.82 % | 30.29 % | 29.05 % | 28.61 % | 26.22 % | 27.38 % | 29.33 % | 24.01 % | 17.28 % | 26.00 % | 21.39 % | 16.33 % | 18.41 % |
| FCF margin (%) | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 76.68 % | 72.54 % | 67.79 % | 69.48 % |
