Realty Income annual operating expenses
2019
2020
2021
2022
2023
2024
2025
Realty Income Operating Expenses Growth & History (O)
Realty Income's operating expenses was $4.79B for fiscal 2025.
View full Realty Income company overviewRealty Income annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $4.79B | $296.7M | +6.61% |
| 2024 | 2024-12-31 | $4.49B | $1.30B | +40.79% |
| 2023 | 2023-12-31 | $3.19B | $648.5M | +25.53% |
| 2022 | 2022-12-31 | $2.54B | $881.7M | +53.17% |
| 2021 | 2021-12-31 | $1.66B | $347.0M | +26.46% |
| 2020 | 2020-12-31 | $1.31B | $231.2M | +21.40% |
| 2019 | 2019-12-31 | $1.08B | — | — |
Realty Income quarterly operating expenses
Q2.20
Q3.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $1.19B | −$41.8M | −3.39% |
| Q1 2026 | 2026-03-31 | $1.24B | $93.1M | +8.13% |
| Q4 2025 | 2025-12-31 | $1.22B | $66.5M | +5.76% |
| Q3 2025 | 2025-09-30 | $1.19B | $85.3M | +7.73% |
| Q2 2025 | 2025-06-30 | $1.23B | $135.5M | +12.35% |
| Q1 2025 | 2025-03-31 | $1.14B | $9.4M | +0.83% |
| Q4 2024 | 2024-12-31 | $1.15B | $312.8M | +37.18% |
| Q3 2024 | 2024-09-30 | $1.10B | $297.3M | +36.89% |
| Q2 2024 | 2024-06-30 | $1.10B | $278.8M | +34.09% |
| Q1 2024 | 2024-03-31 | $1.14B | $411.8M | +56.91% |
| Q4 2023 | 2023-12-31 | $841.3M | $154.8M | +22.55% |
| Q3 2023 | 2023-09-30 | $805.9M | $177.2M | +28.20% |
| Q2 2023 | 2023-06-30 | $817.8M | $201.5M | +32.70% |
| Q1 2023 | 2023-03-31 | $723.7M | $114.9M | +18.87% |
| Q4 2022 | 2022-12-31 | $686.5M | $32.9M | +5.04% |
| Q3 2022 | 2022-09-30 | $628.6M | $272.4M | +76.46% |
| Q2 2022 | 2022-06-30 | $616.3M | $270.7M | +78.33% |
| Q1 2022 | 2022-03-31 | $608.8M | $305.7M | +100.86% |
| Q4 2021 | 2021-12-31 | $653.5M | — | — |
| Q3 2021 | 2021-09-30 | $356.3M | −$36.7M | −9.33% |
| Q2 2021 | 2021-06-30 | $345.6M | $40.0M | +13.10% |
| Q1 2021 | 2021-03-31 | $303.1M | — | — |
| Q3 2020 | 2020-09-30 | $392.9M | — | — |
| Q2 2020 | 2020-06-30 | $305.6M | — | — |
Realty Income operating expenses trends
Over the last five fiscal years, Realty Income's operating expenses increased from $1.31B to $4.79B, a change of $3.47B. The latest reported quarter, Q2 2026, shows $1.19B.
About the metric
What operating expenses mean
Operating expenses are the recurring costs of running a company’s business beyond the direct costs used to calculate gross profit. They commonly include selling, general and administrative expenses, research and development, and other operating costs.
Calculation and source
SEC-reported and calculated operating expenses
TickerStat uses operating expenses reported in company SEC filings when available. When a separate total is unavailable, it calculates operating expenses as aligned gross profit minus operating income for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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