Revenue Growth Driven by Rental Income
Revenue rose 9.7% year-over-year to $1.55 billion, reflecting organic growth from existing properties and contributions from recent acquisitions.
Source: 10-Q Income Statement (XBRL)
Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
Realty Income's Q2 FY2026 results showed revenue growth alongside a sharp increase in earnings per share. Revenue rose 9.7%, while diluted EPS surged 68.2%, as per the 10-Q filing. However, operating cash flow grew more slowly, and the company's cash reserves declined 31% amid heavy investment spending, resulting in negative free cash flow.
Revenue
$1.55B
+9.74% YoY
EPS (Diluted)
$0.37
+68.18% YoY
Source: SEC XBRL
Realty Income (O) reported Q2 FY2026 revenue of $1.55B, up 9.7% year over year. O's fiscal Q2 FY2026 corresponds to calendar Q2 2026.
Last 4 quarters: 1 beat
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026This filing | 1.09 | 0.42 | Beat +162.2% |
| Mar 2026 | 0.33 | 0.41 | Miss -19.8% |
| Dec 2025 | 0.32 | 0.40 | Miss -19.9% |
| Sep 2025 | 0.35 | 0.36 | Miss -3.8% |
Adjusted (non-GAAP) EPS of $1.09 versus the $0.42 analyst consensus — a +162.2% beat for Jun 2026. Analyst consensus is quoted on the adjusted (non-GAAP) basis the street uses. GAAP diluted EPS for this quarter was $0.37.
Compiled by AI from this SEC filing
Revenue rose 9.7% year-over-year to $1.55 billion, reflecting organic growth from existing properties and contributions from recent acquisitions.
Source: 10-Q Income Statement (XBRL)
Diluted EPS increased 68.2% to $0.37, likely supported by operating leverage or lower expenses, though detailed breakdowns are not provided.
Source: 10-Q Income Statement (XBRL)
Cash and equivalents fell 31% to $552.6 million, as the company deployed over $5 billion in investing activities year-to-date.
Source: 10-Q Balance Sheet (XBRL) and 10-Q Cash Flow Statement (XBRL)
With operating cash flow of $2.02 billion and investing outflows of $5.03 billion, free cash flow was negative, indicating reliance on external financing.
Source: 10-Q Cash Flow Statement (XBRL)
Debt-to-equity ratio stood at 0.87, marginally higher as liabilities grew slightly faster than equity, but within typical REIT ranges.
Source: 10-Q Balance Sheet (XBRL)
Compiled by AI from this SEC filing · 1 high, 4 medium, 0 low
Cash and equivalents declined 31% year-over-year to $552.6 million, while investing activities consumed significant cash, potentially limiting the company's ability to meet short-term obligations without additional financing.
Source: 10-Q Balance Sheet (XBRL)
Year-to-date investing cash outflows of $5.03 billion, more than double the prior year's period, indicate aggressive acquisition activity that may not yield expected returns if property values decline or rents soften.
Source: 10-Q Cash Flow Statement (XBRL)
With a debt-to-equity ratio of 0.87 and rising interest rates, the company's financing costs could increase, pressuring net income and cash flow, especially if refinancing occurs at higher rates.
Source: 10-Q Balance Sheet (XBRL)
Financing activities raised $3.11 billion year-to-date, suggesting reliance on debt and equity issuance; share buybacks of $101.9 million only partially offset potential dilution from new equity offerings.
Source: 10-Q Cash Flow Statement (XBRL)
As a triple-net lease REIT, Realty Income's revenue depends on tenants' financial health; a weakening economy could lead to tenant defaults or reduced rent collections, impacting cash flow.
Source: 10-Q Income Statement (XBRL)
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 1.55 $B | 1.41 $B | +9.74% |
EPS (Basic) $ | 0.37 $ | 0.22 $ | +68.18% |
EPS (Diluted) $ | 0.37 $ | 0.22 $ | +68.18% |
Answers draw on this SEC filing and the data on this page
Expected release date, analyst estimates & what to watch
Realty Income (O) delivered solid Q1 2026 results with revenue up 12.2% YoY to $1.55B and operating cash flow growing 11.0% to $874.5M, supported by continued portfolio expansion financed through significant new capital raises.
Realty Income (O) delivered solid FY2025 results with revenue growing 9.1% to $5.75B and net income surging 23.0% to $1.06B, supported by strong operating cash flow of $3.99B, though elevated investing outflows reflect continued aggressive property acquisitions.
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