Retail was Realty Income’s largest region in fiscal 2025, bringing in $10.55B of $14.77B (71%).
| Geography | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|
| Retail | $7.37B | $8.26B | $10.11B | $10.55B | ||
| Industrial | $1.49B | $3.22B | $2.24B | $2.76B | ||
| Other | $222.60M | $616.58M | $1.43B | $1.46B | ||
| Other (2) | — | — | — | — | ||
| Total | $9.08B | $12.10B | $13.78B | $14.77B |
Realty Income brought in $14.77B from its three regions in fiscal 2025, the year ended December 31, 2025. That was up 7.2% from $13.78B in fiscal 2024. Retail was the largest at $10.55B (71.4%), ahead of Industrial at $2.76B (18.7%) and Other at $1.46B (9.9%).
Compared with fiscal 2024, Industrial grew fastest, up 23.1% to $2.76B. Every region above 2% of revenue grew. From fiscal 2022 to 2025, combined revenue from these regions grew from $9.08B to $14.77B, a compound annual growth rate of 17.6%. Retail's share of the total fell from 81.2% to 71.4%.
Acquisitions - U.S was Realty Income’s largest product and service line in fiscal 2022, bringing in $7.37B of $8.19B (90%).
| Product and Service | FY 2020 | FY 2021 | FY 2022 |
|---|---|---|---|
| Acquisitions - U.S | — | — | $7.37B |
| U.S | $4.49B | $5.48B | — |
| U.K | $167.70M | $445.50M | $729.90M |
| Other | — | $12.60M | $92.70M |
| Total | $4.66B | $5.94B | $8.19B |
Realty Income brought in $8.19B from its three product and service lines in fiscal 2022, the year ended December 31, 2022. Realty Income regrouped these lines after fiscal 2021, so the total does not compare directly with that year's $5.94B. Acquisitions - U.S was the largest at $7.37B (90.0%), ahead of U.K at $729.90M (8.9%) and Other at $92.70M (1.1%).
Realty Income began breaking out Acquisitions - U.S in fiscal 2022 and Other in fiscal 2021. Realty Income stopped reporting U.S as a separate line after fiscal 2021, when it brought in $5.48B.
Realty Income (O) reports its revenue by geography and by product and service. In fiscal 2025, Retail was its largest region, bringing in $10.55B (71.4% of the total), followed by Industrial at $2.76B (18.7%).
Retail was Realty Income's largest region in fiscal 2025, bringing in $10.55B, or 71.4% of the $14.77B total across its three regions.
Acquisitions - U.S was Realty Income's largest product and service line in fiscal 2022, bringing in $7.37B, or 90.0% of the $8.19B total across its three product and service lines.
Among Realty Income's regions that make up at least 2% of revenue, Industrial grew fastest in fiscal 2025, up 23.1% from $2.24B to $2.76B.
Every figure comes from Realty Income's annual financial filings, as reported. Each line keeps the name Realty Income gives it, and years follow its fiscal calendar.
Realty Income's revenue by geography goes back to fiscal 2020, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.