What is Realty Income's advertising — carrying costs?

Realty Income (O) reported advertising — carrying costs of $0 in Q4 2025.

What does advertising — carrying costs mean?

The ongoing expenses incurred to maintain and hold properties within the advertising segment, such as taxes, insurance, and maintenance. This metric represents the operational burden of the segment's real estate portfolio. High carrying costs relative to revenue can indicate operational inefficiencies or underperforming assets.

Realty Income (O) Advertising — Carrying Costs

Screener

Other product segments

Restaurants-Casual

$1.32M—

Automotive Parts

$827K—

Child Care

$640K—

General Merchandise

$463K—

Crafts and Novelties

$440K—

Transportation Services

$402K—

Office Supplies

$339K—

Grocery

$325K—

Other Manufacturing

$240K—

Pet Supplies and Services

$239K—

Shoe Stores

$215K—

Apparel

$199K—

Health Care

$198K—

Sporting Goods

$178K—

Restaurants-Quick Service

$174K—

Health and Fitness

$172K—

Convenience Store

$145K—

Automotive Services

$140K—

Home Furnishings

$119K—

Drug Stores

$100K—

Financial Services

$97K—

Education

$62K—

Automotive Tire Services

$55K—

Consumer Electronics

$51K—

Home Improvement

$35K—

Telecommunications

$11K—

Automotive Collision Service

$10K—

Dollar Stores

$9K—

Aerospace

$0—

Beverage

$0—

Consumer Appliances

$0—

Consumer Goods

$0—

Diversified Industrial

$0—

Energy

$0—

Entertainment

$0—

Equipment Services

$0—

Food Processing

$0—

Gaming

$0—

Health and Beauty

$0—

Insurance

$0—

Jewelry

$0—

Machinery

$0—

Motor Vehicle Dealerships

$0—

Oil & Gas

$0—

Other

$0—

Packaging

$0—

Paper

$0—

Theaters

$0—

Warehousing and Storage

$0—

Wholesale Club

$0—

Similar metrics at other companies

OHIKS — Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Carrying Costs

$1K—

OHILA — Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Carrying Costs

$448K0.0%

OHIMD — Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Carrying Costs

$135K—

OHINC — Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Carrying Costs

$336K0.0%

OHINJ — Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Carrying Costs

$1.56M0.0%

OHINY — Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Carrying Costs

$40.54M0.0%

Other financials

Income statement

See full

Revenue$1.5B+9.7%

Net income$370.5M+86.2%

EPS (diluted)$0.37+68.2%

Balance sheet

See full

Cash & equivalents$552.6M-31.0%

Total debt$528.5M+1.2%

Total equity$39.5B+1.0%

Total assets$76.4B+7.0%

Cash flow

See full

Operating cash flow$1.1B+8.0%

CapEx$57.2M+118%

Free cash flow$1.1B+5.2%

Valuation

See full

Market cap$59.15B+12.7%

Enterprise value$59.12B+13.3%

P/E45.4×-11.7×

P/S9.8×+0.2×

Profitability

See full

Net margin21.5%+4.7pp

FCF margin66.1%+1.2pp

Returns & leverage

See full

Return on equity3.3%+0.9pp

Debt / equity0×0.0×

Where this comes from

Reported directly by Realty Income in its filing.

Tagged under the XBRL concept us-gaap:RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionCarryingCosts.

The source filing: Realty Income’s 10-K, filed February 25, 2026.

Filed: Feb 24, 2026, 7:00 PM EST
Fiscal year: FY2025
Accession: 0000726728-26-000011

Description	Number of Properties (Note 1)	Encumbrances (Note 2)	Initial Cost to Company / Land	Initial Cost to Company / Buildings, Improvements and Acquisition Fees	Cost Capitalized Subsequent to Acquisition / Improvements	Cost Capitalized Subsequent to Acquisition / Carrying Costs	Gross Amount at Which Carried at Close of Period (Notes 3, 4 and 6) / Land	Gross Amount at Which Carried at Close of Period (Notes 3, 4 and 6) / Buildings, Improvements and Acquisition Fees	Gross Amount at Which Carried at Close of Period (Notes 3, 4 and 6) / Total	Accumulated Depreciation (Note 5)	Date of Construction	Date Acquired
Restaurants-Quick Service	30	—	20,135	46,837	105	—	20,135	46,942	67,077	2,748	2023	12/16/2024
Sporting Goods	89	—	262,730	513,309	6,352	—	262,730	519,661	782,391	49,384	2021	3/25/2025
Theaters	2	—	20,354	43,246	547	—	20,354	43,793	64,147	1,893	2011	11/27/2024
Transportation Services	9	—	151,957	440,927	35,170	—	151,957	476,097	628,054	5,251	2025	12/12/2025
Warehousing and Storage	2	—	67,311	92,410	484	—	67,311	92,894	160,205	7,905	2025	4/27/2023
Wholesale Club	8	—	60,252	108,900	—	—	60,252	108,900	169,152	13,529	2002	2/9/2024
Other Europe	7	—	127,376	—	38,826	—	127,376	38,826	166,202	—	—	11/4/2025
	15,512	$37,894	$18,430,717	$43,340,206	$523,956	$7,203	$18,430,717	$43,871,365	$62,302,082	$8,796,740

Item 16: Form 10-K Summary

FAQ

What is Realty Income's advertising — carrying costs?: Realty Income (O) reported advertising — carrying costs of $0 in Q4 2025.
What does advertising — carrying costs mean?: The ongoing expenses incurred to maintain and hold properties within the advertising segment, such as taxes, insurance, and maintenance. This metric represents the operational burden of the segment's real estate portfolio. High carrying costs relative to revenue can indicate operational inefficiencies or underperforming assets.