Question 1

What is Realty Income's P/S ratio?

Accepted Answer

Realty Income (O) P/S ratio is 9.9× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. 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/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

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

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For Realty Income specifically, the relevant sector benchmark is the current sector median of 6.4×.

Question 5

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

Accepted Answer

Realty Income's P/S ratio of 9.9× is below its own 5-year average of 11.6× and above the sector median of 6.4×. That places the current reading at the 38th 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/S ratio range?

Accepted Answer

In the available daily series, Realty Income (O) P/S ratio has ranged from a low of 5.7× in 2009 to a high of 21.3× in 2022. The 5-year average is 11.6× and the 5-year median is 10.6×.

Question 7

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

Accepted Answer

Realty Income (O) P/S ratio at the end of 2025 was 8.9×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). 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	$5.75B	8.9×	-0.0×	Dec 31, 2025
2024	$46.8B	$5.27B	8.9×	-1.3×	Dec 31, 2024
2023	$41.6B	$4.08B	10.2×	-1.8×	Dec 31, 2023
2022	$40.2B	$3.34B	12.0×	-8.4×	Dec 31, 2022
2021	$42.3B	$2.08B	20.4×	+7.4×	Dec 31, 2021
2020	$21.5B	$1.65B	13.0×	-2.7×	Dec 31, 2020
2019	$23.4B	$1.49B	15.7×	+2.2×	Dec 31, 2019
2018	$17.9B	$1.33B	13.5×	+0.9×	Dec 31, 2018
2017	$15.3B	$1.22B	12.6×	-0.5×	Dec 31, 2017
2016	$14.4B	$1.1B	13.1×	+1.1×	Dec 31, 2016
2015	$12.3B	$1.02B	12.0×	+1.0×	Dec 31, 2015
2014	$10.3B	$934M	11.0×	+1.7×	Dec 31, 2014
2013	$7.35B	$792M	9.3×	-5.0×	Dec 31, 2013
2012	$6.68B	$468M	14.3×	+3.6×	Dec 31, 2012
2011	$4.49B	$419M	10.7×	-0.7×	Dec 31, 2011
2010	$3.94B	$344M	11.5×	+3.5×	Dec 31, 2010
2009	$2.6B	$327M	8.0×	+0.9×	Dec 31, 2009
2008	$2.32B	$330M	7.0×	-1.8×	Dec 31, 2008
2007	$2.62B	$296M	8.9×	-2.1×	Dec 31, 2007
2006	$2.64B	$240M	11.0×	+2.4×	Dec 31, 2006
2005	$1.69B	$196M	8.6×	-2.5×	Dec 31, 2005
2004	$1.94B	$174M	11.1×	+1.7×	Dec 31, 2004
2003	$1.45B	$153M	9.5×	+1.1×	Dec 31, 2003
2002	$1.18B	$141M	8.4×	—	Dec 31, 2002


Extra Space Storage (EXR)	8.1×
STAG Industrial (STAG)	8.0×
AvalonBay Communities (AVB)	7.5×
American Tower (AMT)	7.4×
VICI Properties (VICI)	7.2×
Kimco Realty (KIM)	7.0×
Camden Property Trust (CPT)	6.5×
UDR (UDR)	6.4×
Tanger (SKT)	6.4×
Mid-America Apartment Communities (MAA)	6.4×
SBA Communications (SBAC)	6.4×
Ventas (VTR)	6.3×
Invitation Homes (INVH)	5.4×
CoStar Group (CSGP)	4.9×
Apartment Investment and Management (AIV)	4.5×
Iron Mountain (IRM)	4.2×
Healthpeak Properties (DOC)	4.0×
Alexandria Real Estate Equities (ARE)	3.0×
Medical Properties Trust (MPT)	2.8×
Weyerhaeuser (WY)	2.5×
BXP (BXP)	2.4×
Host Hotels & Resorts (HST)	2.2×
Arbor Realty Trust (ABR)	1.2×
Opendoor Technologies (OPEN)	1.1×
CBRE Group (CBRE)	0.9×

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

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

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

About P/S Ratio at Realty Income (O)

Realty Income P/S Ratio by Year

Realty Income P/S Ratio 2025: 8.9×

Realty Income P/S Ratio 2024: 8.9×

Realty Income P/S Ratio 2023: 10.2×

Realty Income P/S Ratio 2022: 12.0×

Realty Income P/S Ratio 2021: 20.4×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

Realty Income (O) Key Financials