Realty Income annual operating margin
2019
2020
2021
2022
2023
2024
2025
Realty Income Operating Margin Growth & History (O)
Realty Income's operating margin was 16.76% for fiscal 2025.
View full Realty Income company overviewRealty Income annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 16.76% | +1.92 pp |
| 2024 | 2024-12-31 | 14.83% | −7.00 pp |
| 2023 | 2023-12-31 | 21.83% | −2.20 pp |
| 2022 | 2022-12-31 | 24.03% | +3.75 pp |
| 2021 | 2021-12-31 | 20.28% | −0.09 pp |
| 2020 | 2020-12-31 | 20.38% | −7.03 pp |
| 2019 | 2019-12-31 | 27.41% | — |
Realty Income quarterly operating margin
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 margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 23.09% | +10.45 pp |
| Q1 2026 | 2026-03-31 | 20.06% | +3.00 pp |
| Q4 2025 | 2025-12-31 | 17.97% | +4.07 pp |
| Q3 2025 | 2025-09-30 | 19.18% | +2.07 pp |
| Q2 2025 | 2025-06-30 | 12.64% | −5.49 pp |
| Q1 2025 | 2025-03-31 | 17.07% | +7.15 pp |
| Q4 2024 | 2024-12-31 | 13.90% | −7.94 pp |
| Q3 2024 | 2024-09-30 | 17.11% | −5.33 pp |
| Q2 2024 | 2024-06-30 | 18.13% | −1.63 pp |
| Q1 2024 | 2024-03-31 | 9.92% | −13.46 pp |
| Q4 2023 | 2023-12-31 | 21.83% | −0.92 pp |
| Q3 2023 | 2023-09-30 | 22.44% | −2.47 pp |
| Q2 2023 | 2023-06-30 | 19.76% | −4.19 pp |
| Q1 2023 | 2023-03-31 | 23.37% | −1.22 pp |
| Q4 2022 | 2022-12-31 | 22.75% | +18.15 pp |
| Q3 2022 | 2022-09-30 | 24.92% | −2.36 pp |
| Q2 2022 | 2022-06-30 | 23.95% | −1.45 pp |
| Q1 2022 | 2022-03-31 | 24.60% | −6.87 pp |
| Q4 2021 | 2021-12-31 | 4.60% | — |
| Q3 2021 | 2021-09-30 | 27.28% | +24.40 pp |
| Q2 2021 | 2021-06-30 | 25.41% | −0.90 pp |
| Q1 2021 | 2021-03-31 | 31.47% | — |
| Q3 2020 | 2020-09-30 | 2.88% | — |
| Q2 2020 | 2020-06-30 | 26.31% | — |
Realty Income operating margin trends
Over the last five fiscal years, Realty Income's operating margin decreased from 20.38% to 16.76%, a change of −3.62 percentage points. The latest reported quarter, Q2 2026, shows 23.09%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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