Company Valuation: Realty Income Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 40,507 39,780 41,569 46,745 51,855 53,443 - -
Change - -1.79% 4.5% 12.45% 10.93% 3.06% - -
Enterprise Value (EV) 1 55,691 57,720 62,856 72,527 81,085 85,894 88,688 90,490
Change - 3.64% 8.9% 15.39% 11.8% 5.93% 3.25% 2.03%
P/E 82.3x 44.7x 45.6x 54.5x 48.2x 37.5x 33.1x 33.1x
PBR 1.69x 1.46x 1.31x 1.23x 1.33x 1.31x 1.32x 1.33x
PEG - 0.7x -4x -2.5x 2.5x 1.3x 2.5x 155.54x
Capitalization / Revenue 20.7x 12.1x 10.5x 9.27x 9.54x 9.26x 8.68x 8.08x
EV / Revenue 28.4x 17.5x 15.9x 14.4x 14.9x 14.9x 14.4x 13.7x
EV / EBITDA 30.1x 19.4x 17.4x 15.4x 15.8x 15.4x 14.5x 13.8x
EV / EBIT 58.5x 44.1x 36.5x 31.2x 31.3x 28.8x 27x 24.7x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 2.833 2.967 3.051 3.126 3.217 3.264 3.348 3.435
Rate of return 3.96% 4.68% 5.31% 5.85% 5.71% 5.76% 5.91% 6.06%
EPS 2 0.87 1.42 1.26 0.98 1.17 1.51 1.71 1.714
Distribution rate 326% 209% 242% 319% 275% 216% 196% 200%
Net sales 1 1,960 3,300 3,958 5,044 5,437 5,772 6,155 6,615
EBITDA 1 1,850 2,979 3,617 4,717 5,118 5,586 6,120 6,550
EBIT 1 952 1,309 1,722 2,321 2,594 2,987 3,289 3,666
Net income 1 359.5 869.4 872.3 847.9 1,059 1,446 1,715 1,810
Net Debt 1 15,184 17,940 21,287 25,782 29,230 32,451 35,245 37,047
Reference price 2 71.59 63.43 57.42 53.41 56.37 56.66 56.66 56.66
Nbr of stocks (in thousands) 565,813 627,154 723,949 875,211 919,906 943,218 - -
Announcement Date 2/22/22 2/21/23 2/20/24 2/24/25 2/24/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
37.96x14.99x15.49x5.69% 54.07B
16.62x23.32x27.95x3.47% 17.03B
8.2x12.01x14.72x5.85% 15.65B
17.91x16.22x23.57x5.27% 14.22B
9.36x13.39x15.95x5.34% 12.16B
26.37x10.63x16.71x4.09% 9.71B
38.54x7.86x12.64x5.11% 9.82B
14.52x11.74x18.45x6.49% 9.12B
7.33x19.56x26.46x3.39% 8.89B
Average 19.65x 14.41x 19.10x 4.97% 16.74B
Weighted average by Cap. 24.32x 14.94x 18.33x 5.16%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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