FinSavoir company report · from SEC filings
REALTY INCOME CORP (O)
- Tickers
- O (NYSE)
- SEC CIK
- 726728
- Industry (SIC)
- Real Estate Investment Trusts (6798)
- Sector module
- Real estate investment trusts
- Fiscal year ends
- December 31
- Reporting currency
- USD · Figures in USD as reported to the SEC.
- Periods shown
- Annual (fiscal years): FY2021, FY2022, FY2023, FY2024, FY2025. Quarterly figures (latest: Q2 FY2026) are not included in this export.
| Latest financial period | Q2 FY2026 · ended Jun 30, 2026 |
|---|---|
| Financial data from | 10-Q filed Aug 6, 2026 · accession 0000726728-26-000048 |
| Latest SEC filing (any type) | 144 filed Sep 10, 2026 · accession 0001965301-26-000139 |
| Data as of | Aug 6, 2026 (latest date a figure in this report became public) |
| Last checked with SEC | Oct 7, 2026, 03:58 UTC |
| Report data generated | Oct 7, 2026, 03:58 UTC · data version 2 |
| Exported | Oct 13, 2026, 07:45 UTC |
Reported figures (all tables unless labelled otherwise) come from the company's SEC filings via SEC EDGAR XBRL data. Numbers in brackets [n] cite the filings listed under Sources.
Notices
- Partial annual coverage. Revenue is missing for 4 of 15 periods shown.
- REIT analysis is partial: FFO/AFFO and occupancy are not computed, because they are non-GAAP measures FinLens will not estimate.
- REIT borrowings are often split across tags whose overlap differs between companies (senior notes, unsecured debt, credit lines). FinLens adds them only when the relationship is unambiguous; otherwise total debt and leverage are withheld and the reason is shown.
- Not shown for this sector (the definition does not fit): Cost of revenue, Current assets, Current liabilities, Current ratio, Gross margin, Gross profit, Inventory, Inventory growth, Accounts receivable, Receivables growth.
Financial snapshot · FY2025 ended Dec 31, 2025
| Line item | FY2025Dec 31, 2025 |
|---|---|
| Cash & cash equivalents | 435[6] |
| Revenue | 5,749[5] |
| Net income | 1,059[5] |
| Total debt | Withheld: Borrowings are tagged as secured debt, notes payable. Companies use these tags with different overlaps (senior notes may or may not be inside unsecured debt, a credit line may be inside either), so adding them could double-count; total debt is not shown. |
| Real estate investments, net | 53,414[6] |
Income statement
| Line item | FY2021Dec 31, 2021 | FY2022Dec 31, 2022 | FY2023Dec 31, 2023 | FY2024Dec 31, 2024 | FY2025Dec 31, 2025 |
|---|---|---|---|---|---|
| Revenue | 2,080[2] | 3,344[4] | 4,079[5] | 5,271[5] | 5,749[5] |
| Interest expense | 324[2] | 465[2] | 730[2] | — | — |
| Income before taxes | 392[2] | 918[4] | 929[5] | 934[5] | 1,155[5] |
| Income tax expense | 32[2] | 45[4] | 52[5] | 67[5] | 85[5] |
| Net income | 359[2] | 869[4] | 872[5] | 861[5] | 1,059[5] |
| Diluted EPS (USD per share) | 0.87[2] | 1.42[4] | 1.26[5] | 0.98[5] | 1.17[5] |
| Diluted weighted-average shares | 415[2] | 612[4] | 693[5] | 864[5] | 908[5] |
Not available for this company:
- Research & development: Not tagged in this company's SEC XBRL data.
- Selling, general & administrative: Not tagged in this company's SEC XBRL data.
- Operating income: Not tagged in this company's SEC XBRL data.
- Net interest income: Not tagged in this company's SEC XBRL data.
- Non-interest income: Not tagged in this company's SEC XBRL data.
- Provision for credit losses: No annual values in this range.
Balance sheet
| Line item | FY2021Dec 31, 2021 | FY2022Dec 31, 2022 | FY2023Dec 31, 2023 | FY2024Dec 31, 2024 | FY2025Dec 31, 2025 |
|---|---|---|---|---|---|
| Cash & cash equivalents | 259[1] | 171[2] | 233[4] | 445[5] | 435[6] |
| Short-term investments | — | — | — | — | — |
| Loans, net of allowance | — | — | 205[3] | — | — |
| Real estate investments, net | 31,959[1] | 37,752[2] | 43,514[4] | 50,914[5] | 53,414[6] |
| Total assets | 43,138[1] | 49,673[2] | 57,779[4] | 68,835[5] | 72,796[6] |
| Total debt | — | — | — | — | — |
| Total liabilities | 18,008[1] | 20,830[2] | 24,672[4] | 29,783[5] | 32,672[6] |
| Shareholders' equity | 25,053[1] | 28,713[2] | 32,941[4] | 38,841[5] | 39,439[6] |
Not available for this company:
- Deposits: Not tagged in this company's SEC XBRL data.
Cash flow
| Line item | FY2021Dec 31, 2021 | FY2022Dec 31, 2022 | FY2023Dec 31, 2023 | FY2024Dec 31, 2024 | FY2025Dec 31, 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 1,322[2] | 2,564[4] | 2,959[5] | 3,573[5] | 3,995[5] |
| Depreciation & amortization | 898[2] | 1,670[4] | 1,895[5] | 2,396[5] | 2,524[5] |
| Dividends paid | 1,169[2] | 1,813[4] | 2,112[5] | 2,692[5] | 2,921[5] |
Not available for this company:
- Capital expenditure: Not tagged in this company's SEC XBRL data.
- Free cash flow: Needs capital expenditure, which is not tagged in SEC data.
- Share repurchases: No annual values in this range.
Key ratios
Calculated by FinSavoir from the reported figures above (formulas below) · % or × as marked
| Growth | FY2021Dec 31, 2021 | FY2022Dec 31, 2022 | FY2023Dec 31, 2023 | FY2024Dec 31, 2024 | FY2025Dec 31, 2025 |
|---|---|---|---|---|---|
| Revenue growth | 26.3% | 60.7% | 22.0% | 29.2% | 9.1% |
| Net income growth | −9.1% | 141.9% | 0.3% | −1.3% | 23.0% |
| Diluted EPS growth | −23.7% | 63.2% | −11.3% | −22.2% | 19.4% |
| Revenue CAGR (3 yr) | 16.1% | 31.0% | 35.3% | 36.3% | 19.8% |
| Revenue CAGR (5 yr) | 13.5% | 22.4% | 25.2% | 28.8% | 28.4% |
| Profitability | FY2021Dec 31, 2021 | FY2022Dec 31, 2022 | FY2023Dec 31, 2023 | FY2024Dec 31, 2024 | FY2025Dec 31, 2025 |
|---|---|---|---|---|---|
| Net margin | 17.3% | 26.0% | 21.4% | 16.3% | 18.4% |
| Return on equity | 2.0% | 3.2% | 2.8% | 2.4% | 2.7% |
| Return on assets | 1.1% | 1.9% | 1.6% | 1.4% | 1.5% |
| Effective tax rate | 8.1% | 4.9% | 5.6% | 7.1% | 7.4% |
| Balance sheet | FY2021Dec 31, 2021 | FY2022Dec 31, 2022 | FY2023Dec 31, 2023 | FY2024Dec 31, 2024 | FY2025Dec 31, 2025 |
|---|---|---|---|---|---|
| Debt / equity | — | — | — | — | — |
| Debt / assets | — | — | — | — | — |
| Liabilities / assets | 41.7% | 41.9% | 42.7% | 43.3% | 44.9% |
| Equity / assets | 58.1% | 57.8% | 57.0% | 56.4% | 54.2% |
| Working capital & shares | FY2021Dec 31, 2021 | FY2022Dec 31, 2022 | FY2023Dec 31, 2023 | FY2024Dec 31, 2024 | FY2025Dec 31, 2025 |
|---|---|---|---|---|---|
| Diluted share count change | 20.1% | 47.6% | 13.2% | 24.6% | 5.2% |
| Ratio | Formula |
|---|---|
| Revenue growth | revenue / revenue(prior comparable period) − 1 (%) |
| Net income growth | net income / prior − 1 (prior must be positive) (%) |
| Diluted EPS growth | diluted EPS / prior-period EPS as reported in the same filing − 1 (split-safe; prior must be positive) (%) |
| Revenue CAGR (3 yr) | (revenue_t / revenue_{t−3})^(1/3) − 1; both endpoints positive (%) |
| Revenue CAGR (5 yr) | (revenue_t / revenue_{t−5})^(1/5) − 1; both endpoints positive (%) |
| Net margin | net income / revenue (%) |
| Return on equity | net income / average shareholders' equity (start & end of period) (%) |
| Return on assets | net income / average total assets (start & end of period) (%) |
| Effective tax rate | income tax / income before taxes (pre-tax > 0) (%) |
| Debt / equity | total debt (current + non-current borrowings) / shareholders' equity (×) |
| Debt / assets | total debt / total assets (%) |
| Liabilities / assets | total liabilities / total assets (%) |
| Equity / assets | shareholders' equity / total assets (%) |
| Diluted share count change | diluted weighted-average shares / prior period as reported in the same filing − 1 (split-safe) (%) |
— means an input is missing or the ratio is not meaningful (e.g. a negative denominator).
Sector metrics
Real estate investment trusts. Shown only where SEC XBRL data supports the metric with a verified definition; otherwise the reason is stated. Latest fiscal year.
| Metric | Status | Value | Definition or reason |
|---|---|---|---|
| Funds from operations (FFO)reported by the company | Not available | — | Not available: REITs disclose FFO, a non-GAAP measure, in the MD&A text of their filings and in earnings releases, not as tagged XBRL data (checked in the latest 10-Ks of Realty Income, Prologis, Simon, Public Storage, Welltower and American Tower). FinLens does not compute FFO from net income and depreciation, because company definitions differ. |
| Adjusted FFO (AFFO)reported by the company | Not available | — | Not available: AFFO is company-defined, non-GAAP and not tagged in XBRL; definitions are not interchangeable between REITs. |
Data quality
- Note: Annual figure restated; quarters not re-reported · Operating cash flow Operating cash flow: the four quarters add up to the fiscal year as first reported (804,045,000); the annual figure was later restated to 799,863,000 and the quarters were not re-reported.Affected: TTM Q4 FY2016
- Note: Restated in a later filing · Depreciation & amortization Restated in a later filing in 16 periods. Example: Depreciation & amortization was restated from 90,519,000 to 89,902,000.Affected: FY2009, Q2 FY2010, Q3 FY2010, FY2010, Q1 FY2011, Q2 FY2011, Q3 FY2011, FY2011, Q1 FY2012, Q2 FY2012, Q3 FY2012, FY2012, Q1 FY2013, Q2 FY2013, Q3 FY2013, FY2013
- Note: Restated in a later filing · Income tax expense Restated in a later filing in 5 periods. Example: Income tax expense was restated from 1,430,000 to 1,061,000.Affected: FY2012, Q1 FY2013, Q2 FY2013, Q3 FY2013, FY2013
- Note: Restated in a later filing · Interest expense Restated in a later filing in 5 periods. Example: Interest expense was restated from 122,542,000 to 123,143,000.Affected: FY2012, Q1 FY2013, Q2 FY2013, Q3 FY2013, FY2013
- Note: Restated in a later filing · Net income Restated in a later filing in 2 periods. Example: Net income was restated from 71,804,000 to 73,217,000.Affected: Q1 FY2013, Q2 FY2013
- Note: Restated in a later filing · Operating cash flow Restated in a later filing in 3 periods. Example: Operating cash flow was restated from 692,303,000 to 693,567,000.Affected: FY2015, FY2016, Q1 FY2017
- Note: Restated in a later filing · Revenue Restated in a later filing in 10 periods. Example: Revenue was restated from 325,245,000 to 322,550,000.Affected: FY2009, Q2 FY2010, Q3 FY2010, FY2010, Q1 FY2011, FY2019, FY2020, Q1 FY2021, Q2 FY2021, Q3 FY2021
- Note: Restated in a later filing · Total assets Restated in a later filing in 2 periods. Example: Total assets was restated from 5,443,363,000 to 5,429,348,000.Affected: FY2012, FY2015
- Note: Restated in a later filing · Total liabilities Restated in a later filing in 2 periods. Example: Total liabilities was restated from 3,030,569,000 to 3,016,554,000.Affected: FY2012, FY2015
- Note: Restated in a later filing · Total liabilities & equity Restated in a later filing in 2 periods. Example: Total liabilities & equity was restated from 5,443,363,000 to 5,429,348,000.Affected: FY2012, FY2015
- Note: Secondary-currency figures ignored Facts in ['EUR'] ignored; reporting currency is USD.
- Note: Total debt not shown: borrowing lines may overlap · Total debt Total debt not shown: borrowing lines may overlap in 50 periods. Example: Only some borrowings are tagged (no long-term debt), so a total would understate debt; not shown.Affected: FY2009, Q2 FY2010, Q3 FY2010, FY2010, Q1 FY2011, Q2 FY2011, Q3 FY2011, Q1 FY2012, Q2 FY2012, Q3 FY2012, Q1 FY2013, Q2 FY2013, Q3 FY2013, Q2 FY2017, Q3 FY2017, FY2017, Q1 FY2018, Q2 FY2018, Q3 FY2018, FY2018, Q1 FY2019, Q2 FY2019, Q3 FY2019, FY2019, Q1 FY2020, Q2 FY2020, Q3 FY2020, FY2020, Q1 FY2021, Q2 FY2021, Q3 FY2021, FY2021, Q1 FY2022, Q2 FY2022, Q3 FY2022, FY2022, Q1 FY2023, Q2 FY2023, Q3 FY2023, FY2023, Q1 FY2024, Q2 FY2024, Q3 FY2024, FY2024, Q1 FY2025, Q2 FY2025, Q3 FY2025, FY2025, Q1 FY2026, Q2 FY2026
Sources
| [n] | Form | Filed | Period | Accession number · SEC filing index |
|---|---|---|---|---|
| [1] | 10-K | Feb 22, 2023 | Dec 31, 2022 | 0000726728-23-000044https://www.sec.gov/Archives/edgar/data/726728/000072672823000044/0000726728-23-000044-index.htm |
| [2] | 10-K | Feb 21, 2024 | Dec 31, 2023 | 0000726728-24-000047https://www.sec.gov/Archives/edgar/data/726728/000072672824000047/0000726728-24-000047-index.htm |
| [3] | 10-Q | Aug 6, 2024 | Jun 30, 2024 | 0000726728-24-000118https://www.sec.gov/Archives/edgar/data/726728/000072672824000118/0000726728-24-000118-index.htm |
| [4] | 10-K | Feb 25, 2025 | Dec 31, 2024 | 0000726728-25-000055https://www.sec.gov/Archives/edgar/data/726728/000072672825000055/0000726728-25-000055-index.htm |
| [5] | 10-K | Feb 25, 2026 | Dec 31, 2025 | 0000726728-26-000011https://www.sec.gov/Archives/edgar/data/726728/000072672826000011/0000726728-26-000011-index.htm |
| [6] | 10-Q | Aug 6, 2026 | Jun 30, 2026 | 0000726728-26-000048https://www.sec.gov/Archives/edgar/data/726728/000072672826000048/0000726728-26-000048-index.htm |
Figure sources · exact values as reported (USD, not scaled)
Line item · periodExact valueXBRL tag · period in filing[n]
Cash & cash equivalents · FY2021$258,579,000us-gaap:CashAndCashEquivalentsAtCarryingValue · as of Dec 31, 2021 · 10-K [1][1]
Cash & cash equivalents · FY2022$171,102,000us-gaap:CashAndCashEquivalentsAtCarryingValue · as of Dec 31, 2022 · 10-K [2][2]
Cash & cash equivalents · FY2023$232,923,000us-gaap:CashAndCashEquivalentsAtCarryingValue · as of Dec 31, 2023 · 10-K [4][4]
Cash & cash equivalents · FY2024$444,962,000us-gaap:CashAndCashEquivalentsAtCarryingValue · as of Dec 31, 2024 · 10-K [5][5]
Cash & cash equivalents · FY2025$434,842,000us-gaap:CashAndCashEquivalentsAtCarryingValue · as of Dec 31, 2025 · 10-Q [6][6]
Commercial paper · FY2021$901,400,000us-gaap:CommercialPaper · as of Dec 31, 2021 · 10-K [1][1]
Commercial paper · FY2022$701,800,000us-gaap:CommercialPaper · as of Dec 31, 2022 · 10-K [2][2]
Commercial paper · FY2023$764,400,000us-gaap:CommercialPaper · as of Dec 31, 2023 · 10-K [4][4]
Commercial paper · FY2024$67,300,000us-gaap:CommercialPaper · as of Dec 31, 2024 · 10-K [5][5]
Commercial paper · FY2025$516,800,000us-gaap:CommercialPaper · as of Dec 31, 2025 · 10-Q [6][6]
Depreciation & amortization · FY2021$897,835,000us-gaap:DepreciationDepletionAndAmortization · Jan 1, 2021 – Dec 31, 2021 · 10-K [2][2]
Depreciation & amortization · FY2022$1,670,389,000us-gaap:DepreciationDepletionAndAmortization · Jan 1, 2022 – Dec 31, 2022 · 10-K [4][4]
Depreciation & amortization · FY2023$1,895,177,000us-gaap:DepreciationDepletionAndAmortization · Jan 1, 2023 – Dec 31, 2023 · 10-K [5][5]
Depreciation & amortization · FY2024$2,395,644,000us-gaap:DepreciationDepletionAndAmortization · Jan 1, 2024 – Dec 31, 2024 · 10-K [5][5]
Depreciation & amortization · FY2025$2,524,200,000us-gaap:DepreciationDepletionAndAmortization · Jan 1, 2025 – Dec 31, 2025 · 10-K [5][5]
Dividends paid · FY2021$1,169,026,000us-gaap:PaymentsOfDividendsCommonStock · Jan 1, 2021 – Dec 31, 2021 · 10-K [2][2]
Dividends paid · FY2022$1,813,431,000us-gaap:PaymentsOfDividendsCommonStock · Jan 1, 2022 – Dec 31, 2022 · 10-K [4][4]
Dividends paid · FY2023$2,111,793,000us-gaap:PaymentsOfDividendsCommonStock · Jan 1, 2023 – Dec 31, 2023 · 10-K [5][5]
Dividends paid · FY2024$2,691,719,000us-gaap:PaymentsOfDividendsCommonStock · Jan 1, 2024 – Dec 31, 2024 · 10-K [5][5]
Dividends paid · FY2025$2,920,895,000us-gaap:PaymentsOfDividendsCommonStock · Jan 1, 2025 – Dec 31, 2025 · 10-K [5][5]
Diluted EPS · FY2021$0.87us-gaap:EarningsPerShareDiluted · Jan 1, 2021 – Dec 31, 2021 · 10-K [2][2]
Diluted EPS · FY2022$1.42us-gaap:EarningsPerShareDiluted · Jan 1, 2022 – Dec 31, 2022 · 10-K [4][4]
Diluted EPS · FY2023$1.26us-gaap:EarningsPerShareDiluted · Jan 1, 2023 – Dec 31, 2023 · 10-K [5][5]
Diluted EPS · FY2024$0.98us-gaap:EarningsPerShareDiluted · Jan 1, 2024 – Dec 31, 2024 · 10-K [5][5]
Diluted EPS · FY2025$1.17us-gaap:EarningsPerShareDiluted · Jan 1, 2025 – Dec 31, 2025 · 10-K [5][5]
Income tax expense · FY2021$31,657,000us-gaap:IncomeTaxExpenseBenefit · Jan 1, 2021 – Dec 31, 2021 · 10-K [2][2]
Income tax expense · FY2022$45,183,000us-gaap:IncomeTaxExpenseBenefit · Jan 1, 2022 – Dec 31, 2022 · 10-K [4][4]
Income tax expense · FY2023$52,021,000us-gaap:IncomeTaxExpenseBenefit · Jan 1, 2023 – Dec 31, 2023 · 10-K [5][5]
Income tax expense · FY2024$66,601,000us-gaap:IncomeTaxExpenseBenefit · Jan 1, 2024 – Dec 31, 2024 · 10-K [5][5]
Income tax expense · FY2025$85,346,000us-gaap:IncomeTaxExpenseBenefit · Jan 1, 2025 – Dec 31, 2025 · 10-K [5][5]
Interest expense · FY2021$323,644,000us-gaap:InterestExpense · Jan 1, 2021 – Dec 31, 2021 · 10-K [2][2]
Interest expense · FY2022$465,223,000us-gaap:InterestExpense · Jan 1, 2022 – Dec 31, 2022 · 10-K [2][2]
Interest expense · FY2023$730,423,000us-gaap:InterestExpense · Jan 1, 2023 – Dec 31, 2023 · 10-K [2][2]
Total liabilities & equity · FY2021$43,137,502,000us-gaap:LiabilitiesAndStockholdersEquity · as of Dec 31, 2021 · 10-K [1][1]
Total liabilities & equity · FY2022$49,673,092,000us-gaap:LiabilitiesAndStockholdersEquity · as of Dec 31, 2022 · 10-K [2][2]
Total liabilities & equity · FY2023$57,779,357,000us-gaap:LiabilitiesAndStockholdersEquity · as of Dec 31, 2023 · 10-K [4][4]
Total liabilities & equity · FY2024$68,835,039,000us-gaap:LiabilitiesAndStockholdersEquity · as of Dec 31, 2024 · 10-K [5][5]
Total liabilities & equity · FY2025$72,795,612,000us-gaap:LiabilitiesAndStockholdersEquity · as of Dec 31, 2025 · 10-Q [6][6]
Loans, net of allowance · FY2023$205,339,000us-gaap:FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss · as of Dec 31, 2023 · 10-Q [3][3]
Net income · FY2021$359,456,000us-gaap:NetIncomeLoss · Jan 1, 2021 – Dec 31, 2021 · 10-K [2][2]
Net income · FY2022$869,408,000us-gaap:NetIncomeLoss · Jan 1, 2022 – Dec 31, 2022 · 10-K [4][4]
Net income · FY2023$872,309,000us-gaap:NetIncomeLoss · Jan 1, 2023 – Dec 31, 2023 · 10-K [5][5]
Net income · FY2024$860,772,000us-gaap:NetIncomeLoss · Jan 1, 2024 – Dec 31, 2024 · 10-K [5][5]
Net income · FY2025$1,058,590,000us-gaap:NetIncomeLoss · Jan 1, 2025 – Dec 31, 2025 · 10-K [5][5]
Non-controlling interests · FY2021$76,826,000us-gaap:MinorityInterest · as of Dec 31, 2021 · 10-K [1][1]
Non-controlling interests · FY2022$130,140,000us-gaap:MinorityInterest · as of Dec 31, 2022 · 10-K [2][2]
Non-controlling interests · FY2023$165,502,000us-gaap:MinorityInterest · as of Dec 31, 2023 · 10-K [5][5]
Non-controlling interests · FY2024$210,948,000us-gaap:MinorityInterest · as of Dec 31, 2024 · 10-K [5][5]
Non-controlling interests · FY2025$685,273,000us-gaap:MinorityInterest · as of Dec 31, 2025 · 10-Q [6][6]
Notes payable · FY2021$12,499,709,000us-gaap:NotesPayable · as of Dec 31, 2021 · 10-K [1][1]
Notes payable · FY2022$14,278,013,000us-gaap:NotesPayable · as of Dec 31, 2022 · 10-K [2][2]
Notes payable · FY2023$18,602,319,000us-gaap:NotesPayable · as of Dec 31, 2023 · 10-K [4][4]
Notes payable · FY2024$22,657,592,000us-gaap:NotesPayable · as of Dec 31, 2024 · 10-K [5][5]
Notes payable · FY2025$25,031,947,000us-gaap:NotesPayable · as of Dec 31, 2025 · 10-Q [6][6]
Operating cash flow · FY2021$1,322,189,000us-gaap:NetCashProvidedByUsedInOperatingActivities · Jan 1, 2021 – Dec 31, 2021 · 10-K [2][2]
Operating cash flow · FY2022$2,563,856,000us-gaap:NetCashProvidedByUsedInOperatingActivities · Jan 1, 2022 – Dec 31, 2022 · 10-K [4][4]
Operating cash flow · FY2023$2,958,769,000us-gaap:NetCashProvidedByUsedInOperatingActivities · Jan 1, 2023 – Dec 31, 2023 · 10-K [5][5]
Operating cash flow · FY2024$3,573,276,000us-gaap:NetCashProvidedByUsedInOperatingActivities · Jan 1, 2024 – Dec 31, 2024 · 10-K [5][5]
Operating cash flow · FY2025$3,994,754,000us-gaap:NetCashProvidedByUsedInOperatingActivities · Jan 1, 2025 – Dec 31, 2025 · 10-K [5][5]
Income before taxes · FY2021$392,404,000us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest · Jan 1, 2021 – Dec 31, 2021 · 10-K [2][2]
Income before taxes · FY2022$917,599,000us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest · Jan 1, 2022 – Dec 31, 2022 · 10-K [4][4]
Income before taxes · FY2023$928,935,000us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest · Jan 1, 2023 – Dec 31, 2023 · 10-K [5][5]
Income before taxes · FY2024$933,942,000us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest · Jan 1, 2024 – Dec 31, 2024 · 10-K [5][5]
Income before taxes · FY2025$1,155,129,000us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest · Jan 1, 2025 – Dec 31, 2025 · 10-K [5][5]
Real estate investments, net · FY2021$31,959,130,000us-gaap:RealEstateInvestmentPropertyNet · as of Dec 31, 2021 · 10-K [1][1]
Real estate investments, net · FY2022$37,752,421,000us-gaap:RealEstateInvestmentPropertyNet · as of Dec 31, 2022 · 10-K [2][2]
Real estate investments, net · FY2023$43,514,286,000us-gaap:RealEstateInvestmentPropertyNet · as of Dec 31, 2023 · 10-K [4][4]
Real estate investments, net · FY2024$50,913,972,000us-gaap:RealEstateInvestmentPropertyNet · as of Dec 31, 2024 · 10-K [5][5]
Real estate investments, net · FY2025$53,413,903,000us-gaap:RealEstateInvestmentPropertyNet · as of Dec 31, 2025 · 10-Q [6][6]
Revenue · FY2021$2,080,463,000us-gaap:Revenues · Jan 1, 2021 – Dec 31, 2021 · 10-K [2][2]
Revenue · FY2022$3,343,681,000us-gaap:Revenues · Jan 1, 2022 – Dec 31, 2022 · 10-K [4][4]
Revenue · FY2023$4,078,993,000us-gaap:Revenues · Jan 1, 2023 – Dec 31, 2023 · 10-K [5][5]
Revenue · FY2024$5,271,142,000us-gaap:Revenues · Jan 1, 2024 – Dec 31, 2024 · 10-K [5][5]
Revenue · FY2025$5,749,377,000us-gaap:Revenues · Jan 1, 2025 – Dec 31, 2025 · 10-K [5][5]
Secured debt · FY2021$1,141,995,000us-gaap:SecuredDebt · as of Dec 31, 2021 · 10-K [1][1]
Secured debt · FY2022$853,925,000us-gaap:SecuredDebt · as of Dec 31, 2022 · 10-K [2][2]
Secured debt · FY2023$821,587,000us-gaap:SecuredDebt · as of Dec 31, 2023 · 10-K [4][4]
Secured debt · FY2024$80,784,000us-gaap:SecuredDebt · as of Dec 31, 2024 · 10-K [5][5]
Secured debt · FY2025$37,761,000us-gaap:SecuredDebt · as of Dec 31, 2025 · 10-Q [6][6]
Shareholders' equity · FY2021$25,052,574,000us-gaap:StockholdersEquity · as of Dec 31, 2021 · 10-K [1][1]
Shareholders' equity · FY2022$28,713,149,000us-gaap:StockholdersEquity · as of Dec 31, 2022 · 10-K [2][2]
Shareholders' equity · FY2023$32,941,467,000us-gaap:StockholdersEquity · as of Dec 31, 2023 · 10-K [4][4]
Shareholders' equity · FY2024$38,840,738,000us-gaap:StockholdersEquity · as of Dec 31, 2024 · 10-K [5][5]
Shareholders' equity · FY2025$39,438,695,000us-gaap:StockholdersEquity · as of Dec 31, 2025 · 10-Q [6][6]
Diluted weighted-average shares · FY2021414,770,000 sharesus-gaap:WeightedAverageNumberOfDilutedSharesOutstanding · Jan 1, 2021 – Dec 31, 2021 · 10-K [2][2]
Diluted weighted-average shares · FY2022612,181,000 sharesus-gaap:WeightedAverageNumberOfDilutedSharesOutstanding · Jan 1, 2022 – Dec 31, 2022 · 10-K [4][4]
Diluted weighted-average shares · FY2023693,024,000 sharesus-gaap:WeightedAverageNumberOfDilutedSharesOutstanding · Jan 1, 2023 – Dec 31, 2023 · 10-K [5][5]
Diluted weighted-average shares · FY2024863,792,000 sharesus-gaap:WeightedAverageNumberOfDilutedSharesOutstanding · Jan 1, 2024 – Dec 31, 2024 · 10-K [5][5]
Diluted weighted-average shares · FY2025908,334,000 sharesus-gaap:WeightedAverageNumberOfDilutedSharesOutstanding · Jan 1, 2025 – Dec 31, 2025 · 10-K [5][5]
Total assets · FY2021$43,137,502,000us-gaap:Assets · as of Dec 31, 2021 · 10-K [1][1]
Total assets · FY2022$49,673,092,000us-gaap:Assets · as of Dec 31, 2022 · 10-K [2][2]
Total assets · FY2023$57,779,357,000us-gaap:Assets · as of Dec 31, 2023 · 10-K [4][4]
Total assets · FY2024$68,835,039,000us-gaap:Assets · as of Dec 31, 2024 · 10-K [5][5]
Total assets · FY2025$72,795,612,000us-gaap:Assets · as of Dec 31, 2025 · 10-Q [6][6]
Total equity incl. non-controlling interests · FY2021$25,129,400,000us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest · as of Dec 31, 2021 · 10-K [4][4]
Total equity incl. non-controlling interests · FY2022$28,843,289,000us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest · as of Dec 31, 2022 · 10-K [5][5]
Total equity incl. non-controlling interests · FY2023$33,106,969,000us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest · as of Dec 31, 2023 · 10-K [5][5]
Total equity incl. non-controlling interests · FY2024$39,051,686,000us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest · as of Dec 31, 2024 · 10-Q [6][6]
Total equity incl. non-controlling interests · FY2025$40,123,968,000us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest · as of Dec 31, 2025 · 10-Q [6][6]
Total liabilities · FY2021$18,008,102,000us-gaap:Liabilities · as of Dec 31, 2021 · 10-K [1][1]
Total liabilities · FY2022$20,829,803,000us-gaap:Liabilities · as of Dec 31, 2022 · 10-K [2][2]
Total liabilities · FY2023$24,672,388,000us-gaap:Liabilities · as of Dec 31, 2023 · 10-K [4][4]
Total liabilities · FY2024$29,783,353,000us-gaap:Liabilities · as of Dec 31, 2024 · 10-K [5][5]
Total liabilities · FY2025$32,671,644,000us-gaap:Liabilities · as of Dec 31, 2025 · 10-Q [6][6]
Methodology and limitations
- Source. U.S. Securities and Exchange Commission, EDGAR XBRL company facts. No other data source, market prices or estimates from third parties are used.
- Normalization. Reported XBRL tags are mapped to standard line items (normalization v8); ratios use calculation version ratios_v2; report schema 4; print template print_v1.
- Markers. d derived by FinSavoir from reported figures (the derivation is listed under Figure sources) · r restated in a later filing (the current value is shown; the first reported value is listed) · s adjusted for a stock split.
- Missing values. Shown as — (not reported for that period) or “withheld” (failed a data-quality check). They are never replaced by zero or an estimate.
- Currency and units. Figures are in the company's reporting currency as filed with the SEC, with no conversion. Each table states its scale; exact values are listed under Figure sources.
- Periods. Up to 5 fiscal years; fiscal years are labelled by the year they end in and show their end date.
- Not investment advice. FinSavoir is a research tool for historical analysis.
- This file. Produced by your browser's print function from FinSavoir on Oct 13, 2026, 07:45 UTC; page breaks can differ slightly between browsers.