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Screener / SEC EDGAR /CIK 0000726728 /10-K filed Feb 25, 2026, compared with Feb 25, 2025 /Numbers from the XBRL of the 10-Ks
Real estate peers:
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NYSE Real estate · REIT

Realty Income O

O quote by TradingView

Realty Income (NYSE: O), an S&P 500 company, is real estate partner to the world's leading companies®. Founded in 1969, we serve our clients as a full-service real estate capital provider. 10-K, Item 1

Headquarters
San Diego, CA
CEO
Sumit Roy
Next results
around Feb 23, 2027
Compare with peers Embed

What changed

19 new risk paragraphs and 2 accounting facts worth reading about. 10-K filed Feb 25, 2026 against Feb 25, 2025.

Risk factors
19 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Receivables growing faster than revenue
Receivables +20.0% vs revenue +9.1% (+11.0 pts)
10-K · XBRL
Critical audit matters changed
New this year: Assessment of the expected holding period for long-lived assets (“As discussed in Note 1 to the consolidated financial statements, the Company evaluates long-lived assets for impairment whenever events or changes in circumstances, including shortening the estimated holding periods of such assets, indicate that the carrying amount of these assets may not be recover”). No longer listed: Evaluation of the Fair Value of Acquired Land; Table of Contents
10-K · XBRL
Accounting checks
8 other checks clear, 2 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
3 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

10 checks on the latest 10-K. Checks, not verdicts.

How it works

2facts worth reading about the other 8 checks found nothing to note

  • Receivables growing faster than revenue
    Receivables +20.0% vs revenue +9.1% (+11.0 pts)
  • Critical audit matters changed
    New this year: Assessment of the expected holding period for long-lived assets (“As discussed in Note 1 to the consolidated financial statements, the Company evaluates long-lived assets for impairment whenever events or changes in circumstances, including shortening the estimated holding periods of such assets, indicate that the carrying amount of these assets may not be recover”). No longer listed: Evaluation of the Fair Value of Acquired Land; Table of Contents
  • Cash from operations $4.0B vs net income $1.1B (FY ending Dec 31, 2025)
7 more checks with nothing to note
  • Same auditor in both 10-Ks: KPMG LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

19 paragraphs in Risk Factors that were not in the 10-K filed Feb 25, 2025. Quoted as filed.

All 19 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 25, 2025 10-K, ITEM 1A
    Our loans and investments, including in subordinated debt, expose us to risks associated with debt-oriented real estate investments generally. We invest in debt instruments relating to real estate-related assets, which subject us to additional potential risks, including with respect to fluctuations in the value of the underlying assets,…
  2. Item 1A · new paragraph · not in the 10-K filed Feb 25, 2025 10-K, ITEM 1A
    Many of our properties are also covered by flood and earthquake insurance policies (subject to substantial deductibles) obtained and paid for by our clients as part of their risk management programs. Additionally, we have
  3. Item 1A · new paragraph · not in the 10-K filed Feb 25, 2025 10-K, ITEM 1A
    The success of our business is dependent on the financial stability of the clients occupying our properties. A default of a client on its lease payments may cause us to lose anticipated revenue from an investment property.
  4. Item 1A · new paragraph · not in the 10-K filed Feb 25, 2025 10-K, ITEM 1A
    The bankruptcy or insolvency of a client, borrower or guarantor could result in the termination of the lease agreement, loan agreement, or guarantee, as applicable.

New risk paragraphs, against peers

Latest 10-K of each, Real estate companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$3.3B$4.1B$5.3B$5.7B
Net income$869.4M$872.3M$860.8M$1.1B
Operating cash flow$2.6B$3.0B$3.6B$4.0B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$5.7B ▲ 9.1% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

3 filings in the last 30 days · SEC EDGAR

All filings

About the company

Realty Income, San Diego, CA · from the 10-K filed Feb 25, 2026

Realty Income (NYSE: O), an S&P 500 company, is real estate partner to the world's leading companies®. Founded in 1969, we serve our clients as a full-service real estate capital provider. As of December 31, 2025, we have a portfolio of over 15,500 properties in all 50 states of the United States ("U.S."), the United Kingdom ("U.K."), and eight other countries in Europe. We are known as “The Monthly Dividend Company®” and have a mission to invest in people and places to deliver dependable monthly dividends that increase over time.

Headquarters
San Diego, CA
Country
United States
Reports in
USD
Listed on
NYSE
Fiscal year ends
December 31
Last results
Nov 2, 2026
Incorporated in
MD

Email alerts

Sources

The 10-K filed Feb 25, 2026 (open at SEC), compared with the 10-K filed Feb 25, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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