O Realty Income margins

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Relative Growth: Rel. Growth: 80
Relative Strength: Rel. Strength: 35
Relative Valuation: Rel. Valuation: 34
Relative Profitability: Rel. Profitability: 77
Gross margin
92.7%
Operating margin
42.9%
EBITDA margin
84.1%
Net margin
20.9%

Recent Realty Income shows a gross margin of 92.7%, an operating margin of 42.9%, an EBITDA margin of 84.1%, and a net margin of 20.9%. Operating margin drove the improvement across the available margins, increasing by 5.4 percentage points.

O margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Realty Income's margins averaged 92.55% gross, 38.82% operating, 84.06% EBITDA, and 18.65% net. All four current margins are above their three-year averages.

O margin expansion

Year-over-year margin changes in percentage points

All available margins expanded year over year, led by operating margin with an increase of 5.4 percentage points.

Gross margin expansion
0.1pp
Operating margin expansion
5.4pp
EBITDA margin expansion
1pp
Net margin expansion
4.1pp

O Gross margin

Across the last 3 years, Realty Income recorded an average gross margin of 92.55%. Realty Income's current gross margin is 92.7% and is 0.2 percentage points above its three-year average. The highest gross margin for Realty Income was 92.8% in Dec 2024, while the lowest was 92.2% in Sep 2023.

O Operating margin

Realty Income's operating margin averaged 38.82% in the last 3 years. Compared with its three-year average, Realty Income's current operating margin is 42.9% and is 4.1 percentage points above its three-year average. Over the last 3 years, Realty Income's operating margin peaked at 42.9% in Jun 2026 and reached a low of 36.4% in Dec 2024.

O EBITDA margin

Across the last 3 years, Realty Income's EBITDA margin averaged 84.06%. The current EBITDA margin of 84.1% is 0 percentage points above its three-year average. EBITDA margin was highest at 88.3% in Sep 2023 and lowest at 82.3% in Dec 2024.

O Net margin

Across the last 3 years, Realty Income's net margin came to 18.65%. The current net margin stands at 20.9%, 2.3 percentage points above its three-year average. Net margin was highest at 22.6% in Sep 2023 and lowest at 16.3% in Dec 2024.

O margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 92.7%, O stands higher than the Real Estate sector, the industry and its peers average. Looking at the Real Estate sector average of 63.1%, Realty Income's gross margin is 47% higher.

O margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Realty Income's gross margin?

For the period ending Jun 30, 2026, O recorded a gross margin of 92.7%.

What is Realty Income's operating margin?

As of Jun 30, 2026, O has an operating margin of 42.9%.

What is Realty Income's EBITDA margin?

As of Jun 30, 2026, O has an EBITDA margin of 84.1%.

What is Realty Income's net margin?

For the period ending Jun 30, 2026, O recorded a net margin of 20.9%.

What are the average margins of O?

Realty Income's gross, operating, EBITDA, and net margins averaged 92.6% gross, 38.8% operating, 84.1% EBITDA, and 18.7% net over the last 3 years.

What are the highest historical margins of O?

Realty Income's highest recorded margins during the past 5 years were 93.6% gross in Sep 2022, 46.6% operating in Sep 2021, 91.2% EBITDA in Dec 2022, and 26.2% net in Sep 2021.

What are the lowest historical margins of O?

Looking back across 5 years, O reached its lowest margins at 92.2% gross in Sep 2023, 36.4% operating in Dec 2024, 77.5% EBITDA in Dec 2021, and 16.3% net in Dec 2024.