Realty Income (O) Net Margin (2009 - 2026)
Realty Income's Net Margin was 22.22% in Q2 2026, up 8.26 percentage points from 13.96% a year earlier and up 2.09 percentage points from the prior quarter.
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Analysis
Realty Income (O) Net Margin (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Realty Income's Net Margin was 20.93% through Jun 30, 2026, up 4.31 percentage points year-over-year; for FY2025, it was 18.41%, up 2.33 percentage points from FY2024.
- Net Margin shows a five-year change of -5.60 percentage points (FY2020 to FY2025).
- In earlier years, Net Margin was 16.09% in FY2024 (-5.30 pp), 21.39% in FY2023 (-4.62 pp), 26.00% in FY2022 (+8.72 pp) and 17.28% in FY2021 (-6.73 pp).
- The Q2 2026 figure marks the highest quarterly Net Margin since Q3 2023.
- Compared with a year earlier, Net Margin has increased for four straight quarters, with an average year-over-year change of +1.44 percentage points over the last eight quarters.
- The best year-over-year quarter for Net Margin over five years was Q4 2022 (a gain of 24.98 percentage points); the worst was Q4 2021 (a drop of 27.62 percentage points).
- Per Business Quant data, O's Net Margin in the three quarters before Q2 2026 was 20.13% (Q1 2026), 19.90% (Q4 2025) and 21.47% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Welltower | 164.67 Bn | 146.16 Bn | 1.39 Bn | 12.55% |
| 2 | Prologis | 123.63 Bn | 118.68 Bn | - | 43.74% |
| 3 | Simon Property | 64.74 Bn | 60.59 Bn | - | 27.29% |
| 4 | Realty Income | 51.46 Bn | 49.68 Bn | - | 22.22% |
| 5 | Public Storage | 50.61 Bn | 49.60 Bn | - | 36.52% |
| 6 | Ventas | 41.19 Bn | 39.87 Bn | - | 4.08% |
| 7 | Extra Space Storage | 28.16 Bn | 28.16 Bn | 642.43 Mn | 30.14% |
| 8 | Vici Properties | 24.94 Bn | 23.05 Bn | 1.05 Bn | 49.74% |
| 9 | Vivmark Residential | 22.68 Bn | 22.46 Bn | - | - |
| 10 | Essex Property Trust | 17.33 Bn | 17.09 Bn | - | 12.77% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 22.22% |
| Mar 31, 2026 | 20.13% |
| Dec 31, 2025 | 19.90% |
| Sep 30, 2025 | 21.47% |
| Jun 30, 2025 | 13.96% |
| Mar 31, 2025 | 18.10% |
| Dec 31, 2024 | 14.89% |
| Sep 30, 2024 | 19.67% |
| Jun 30, 2024 | 19.17% |
| Mar 31, 2024 | 10.29% |
| Dec 31, 2023 | 20.29% |
| Sep 30, 2023 | 22.47% |
| Jun 30, 2023 | 19.17% |
| Mar 31, 2023 | 23.83% |
| Dec 31, 2022 | 25.57% |
| Sep 30, 2022 | 26.22% |
| Jun 30, 2022 | 27.54% |
| Mar 31, 2022 | 24.69% |
| Dec 31, 2021 | 0.59% |
| Sep 30, 2021 | 27.56% |
API Access
Realty Income Net Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=net-margin&ticker=O&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "ticker": "O", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=net-margin&ticker=O&period=max&api_key=YOUR_API_KEY");
const data = await res.json();