Question 1

What is Realty Income's P/E ratio?

Accepted Answer

Realty Income (O) P/E ratio is 52.5× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for Realty Income?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Realty Income specifically, the relevant sector benchmark is the current sector median of 28.1×.

Question 5

Is Realty Income's P/E ratio high or low?

Accepted Answer

Realty Income's P/E ratio of 52.5× is below its own 5-year average of 58.8× and above the sector median of 28.1×. That places the current reading at the 33th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Realty Income's historical P/E ratio range?

Accepted Answer

In the available daily series, Realty Income (O) P/E ratio has ranged from a low of 14.3× in 2009 to a high of 123.3× in 2022. The 5-year average is 58.8× and the 5-year median is 54.2×.

Question 7

What was Realty Income's P/E ratio in 2025?

Accepted Answer

Realty Income (O) P/E ratio at the end of 2025 was 48.2×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does Realty Income's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$51B	$1.06B	48.2×	-6.2×	Dec 31, 2025
2024	$46.8B	$861M	54.3×	+6.6×	Dec 31, 2024
2023	$41.6B	$872M	47.7×	+1.5×	Dec 31, 2023
2022	$40.2B	$869M	46.2×	-71.5×	Dec 31, 2022
2021	$42.3B	$359M	117.8×	+63.4×	Dec 31, 2021
2020	$21.5B	$395M	54.4×	+0.7×	Dec 31, 2020
2019	$23.4B	$436M	53.7×	+4.4×	Dec 31, 2019
2018	$17.9B	$364M	49.3×	+1.3×	Dec 31, 2018
2017	$15.3B	$319M	47.9×	+2.1×	Dec 31, 2017
2016	$14.4B	$316M	45.8×	+1.4×	Dec 31, 2016
2015	$12.3B	$277M	44.4×	+6.5×	Dec 31, 2015
2014	$10.3B	$271M	37.9×	+8.0×	Dec 31, 2014
2013	$7.35B	$246M	29.9×	-17.0×	Dec 31, 2013
2012	$6.68B	$143M	46.9×	+18.3×	Dec 31, 2012
2011	$4.49B	$157M	28.6×	-1.5×	Dec 31, 2011
2010	$3.94B	$131M	30.1×	+10.3×	Dec 31, 2010
2009	$2.6B	$131M	19.8×	+2.2×	Dec 31, 2009
2008	$2.32B	$132M	17.6×	-1.1×	Dec 31, 2008
2007	$2.62B	$140M	18.7×	-5.1×	Dec 31, 2007
2006	$2.64B	$111M	23.8×	+6.7×	Dec 31, 2006
2005	$1.69B	$99.1M	17.1×	-1.7×	Dec 31, 2005
2004	$1.94B	$103M	18.8×	+2.0×	Dec 31, 2004
2003	$1.45B	$86.4M	16.8×	+1.9×	Dec 31, 2003
2002	$1.18B	$78.7M	14.9×	—	Dec 31, 2002


Digital Realty Trust (DLR)	45.1×
Weyerhaeuser (WY)	44.4×
Agree Realty (ADC)	41.1×
Mid-America Apartment Communities (MAA)	36.5×
Tanger (SKT)	31.0×
CBRE Group (CBRE)	30.4×
Prologis (PLD)	30.0×
Extra Space Storage (EXR)	29.3×
STAG Industrial (STAG)	28.2×
American Tower (AMT)	28.0×
Camden Property Trust (CPT)	26.4×
BXP (BXP)	26.0×
Invitation Homes (INVH)	25.8×
Public Storage (PSA)	25.0×
Kimco Realty (KIM)	24.5×
UDR (UDR)	22.5×
Regency Centers (REG)	22.1×
NNN REIT (NNN)	20.5×
AvalonBay Communities (AVB)	20.0×
SBA Communications (SBAC)	17.9×
Host Hotels & Resorts (HST)	13.1×
Simon Property Group (SPG)	12.9×
Arbor Realty Trust (ABR)	12.6×
VICI Properties (VICI)	9.4×
Apartment Investment and Management (AIV)	1.0×

P/E Ratio for Realty Income (O) 2002-2026

P/E Ratio daily chart for Realty Income (O)

Historical P/E Ratio for Realty Income (O) from 2002 to 2025

About P/E Ratio at Realty Income (O)

Realty Income P/E Ratio by Year

Realty Income P/E Ratio 2025: 48.2×

Realty Income P/E Ratio 2024: 54.3×

Realty Income P/E Ratio 2023: 47.7×

Realty Income P/E Ratio 2022: 46.2×

Realty Income P/E Ratio 2021: 117.8×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Realty Income (O) Key Financials