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 57,876 - -
Change - -1.79% 4.5% 12.45% 10.93% 11.61% - -
Enterprise Value (EV) 1 55,691 57,720 62,856 72,527 81,085 90,067 93,414 95,570
Change - 3.64% 8.9% 15.39% 11.8% 11.08% 3.72% 2.31%
P/E 82.3x 44.7x 45.6x 54.5x 48.2x 39.5x 34.6x 33.9x
PBR 1.69x 1.46x 1.31x 1.23x 1.33x 1.42x 1.42x 1.44x
PEG - 0.7x -4x -2.5x 2.5x 1.2x 2.5x 16.05x
Capitalization / Revenue 20.7x 12.1x 10.5x 9.27x 9.54x 10.1x 9.4x 8.8x
EV / Revenue 28.4x 17.5x 15.9x 14.4x 14.9x 15.7x 15.2x 14.5x
EV / EBITDA 30.1x 19.4x 17.4x 15.4x 15.8x 16x 15.2x 14.5x
EV / EBIT 58.5x 44.1x 36.5x 31.2x 31.3x 30.5x 28.5x 26.2x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 2.833 2.967 3.051 3.126 3.217 3.247 3.351 3.439
Rate of return 3.96% 4.68% 5.31% 5.85% 5.71% 5.29% 5.46% 5.6%
EPS 2 0.87 1.42 1.26 0.98 1.17 1.554 1.773 1.81
Distribution rate 326% 209% 242% 319% 275% 209% 189% 190%
Net sales 1 1,960 3,300 3,958 5,044 5,437 5,737 6,158 6,576
EBITDA 1 1,850 2,979 3,617 4,717 5,118 5,638 6,146 6,597
EBIT 1 952 1,309 1,722 2,321 2,594 2,954 3,275 3,643
Net income 1 359.5 869.4 872.3 847.9 1,059 1,477 1,762 1,880
Net Debt 1 15,184 17,940 21,287 25,782 29,230 32,191 35,538 37,694
Reference price 2 71.59 63.43 57.42 53.41 56.37 61.36 61.36 61.36
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.($)
39.43x15.69x15.96x5.33% 57.8B
16.95x23.65x28.33x3.4% 17.62B
8.47x12.17x14.91x5.66% 16.35B
19.95x16.71x23.99x5.07% 14.82B
9.85x13.53x16.09x5.26% 12.48B
27.59x10.89x17.17x3.93% 10.08B
7.95x20.47x27.7x3.19% 9.64B
15.06x12.03x18.7x6.18% 9.62B
35.09x7.53x12.1x5.62% 8.94B
Average 20.04x 14.74x 19.44x 4.85% 17.48B
Weighted average by Cap. 25.09x 15.44x 18.75x 4.96%

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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