Realty Income (O) Operating Expenses (2009 - 2026)

Realty Income has disclosed Operating Expenses across 18 years of filings, most recently posting $1.2 billion for Q1 2026.

• Operating Expenses for Q1 2026 came in at $1.2 billion, up 8.13% year-over-year; the trailing twelve-month figure through Mar 2026 was $4.9 billion (up 8.45% YoY), and the FY2025 annual result was $4.8 billion, up 6.61% from the prior year.
• Operating Expenses came in at $1.2 billion for Q1 2026 at Realty Income, up from $1.2 billion in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of $1.2 billion in Q1 2026 to a low of $608.8 million in Q1 2022.
• The 5-year median for Operating Expenses is $1.1 billion (2024), against an average of $955.4 million.
• Across the five-year window, Operating Expenses soared 100.86% in 2022 and increased 0.83% in 2025, its largest moves.
• Realty Income's Operating Expenses stood at $686.5 million in 2022, then grew by 22.55% to $841.3 million in 2023, then surged by 37.18% to $1.2 billion in 2024, then increased by 5.76% to $1.2 billion in 2025, then climbed by 1.43% to $1.2 billion in 2026.
• The last three Operating Expenses figures came in at $1.2 billion (Q1 2026), $1.2 billion (Q4 2025), and $1.2 billion (Q3 2025), per Business Quant data.