Realty Income (O) Operating Expenses (2009 - 2026)
Realty Income (O) posted Operating Expenses of $1.2 billion for Q1 2026, up 1.43% sequentially from $1.2 billion in Q4 2025, and up 8.13% YoY from $1.1 billion in Q1 2025.
Realty Income (O) Operating Expenses (2009 - 2026) Analysis & Trends
Realty Income has reported Operating Expenses for 18 years, with the latest figure at $1.2 billion in Q1 2026.
- Quarterly Operating Expenses rose 8.13% year-over-year to $1.2 billion in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $4.9 billion (up 8.45% YoY) and the FY2025 annual result came in at $4.8 billion, up 6.61% from the prior year.
- Operating Expenses improved to $1.2 billion in Q1 2026 per O's latest filing, from $1.2 billion in the prior quarter.
- Over five years, Operating Expenses peaked at $1.2 billion in Q1 2026 and troughed at $608.8 million in Q1 2022.
- A 5-year average of $955.4 million and a median of $1.1 billion in 2024 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2022 and 2025: Operating Expenses surged 100.86% in 2022, then gained 0.83% in 2025.
- Over 5 years, Operating Expenses stood at $686.5 million in 2022, then rose by 22.55% to $841.3 million in 2023, then jumped by 37.18% to $1.2 billion in 2024, then gained by 5.76% to $1.2 billion in 2025, then increased by 1.43% to $1.2 billion in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $1.2 billion, $1.2 billion, and $1.2 billion for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Simon Property | 71.66 Bn | 71.66 Bn | 1.76 Bn | 900.79 Mn |
| 2 | Realty Income | 57.60 Bn | 57.60 Bn | - | 1.19 Bn |
| 3 | Kimco Realty | 16.10 Bn | 16.10 Bn | 455.67 Mn | 356.02 Mn |
| 4 | Federal Realty Investment Trust | 10.06 Bn | 10.06 Bn | 271.22 Mn | 217.66 Mn |
| 5 | Agree Realty | 8.80 Bn | 8.78 Bn | - | 112.31 Mn |
| 6 | Nnn Reit | 8.64 Bn | 8.64 Bn | - | 102.00 Mn |
| 7 | Macerich | 6.73 Bn | 6.73 Bn | 171.77 Mn | 277.43 Mn |
| 8 | Essential Properties Realty Trust | 6.51 Bn | 6.51 Bn | - | 62.12 Mn |
| 9 | Kite Realty Group Trust | 5.29 Bn | 5.29 Bn | - | 150.10 Mn |
| 10 | Phillips Edison & Company | 5.01 Bn | 5.01 Bn | - | 135.01 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 1.19 Bn |
| Mar 31, 2026 | 1.24 Bn |
| Dec 31, 2025 | 1.22 Bn |
| Sep 30, 2025 | 1.19 Bn |
| Jun 30, 2025 | 1.23 Bn |
| Mar 31, 2025 | 1.14 Bn |
| Dec 31, 2024 | 1.15 Bn |
| Sep 30, 2024 | 1.10 Bn |
| Jun 30, 2024 | 1.10 Bn |
| Mar 31, 2024 | 1.14 Bn |
| Dec 31, 2023 | 841.28 Mn |
| Sep 30, 2023 | 805.89 Mn |
| Jun 30, 2023 | 817.82 Mn |
| Mar 31, 2023 | 723.66 Mn |
| Dec 31, 2022 | 686.46 Mn |
| Sep 30, 2022 | 628.64 Mn |
| Jun 30, 2022 | 616.30 Mn |
| Mar 31, 2022 | 608.76 Mn |
| Dec 31, 2021 | 653.52 Mn |
| Sep 30, 2021 | 356.26 Mn |