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Realty Income O Home Improvement — Encumbrances

Other product segments

Health Care
$32.01M
Advertising
$0
Aerospace
$0
Apparel
$0
Automotive Collision Service
$0
Automotive Parts
$0
Automotive Services
$0
Automotive Tire Services
$0
Beverage
$0
Child Care
$0
Consumer Appliances
$0
Consumer Electronics
$0
Consumer Goods
$0
Convenience Store
$0
Crafts and Novelties
$0
Diversified Industrial
$0
Dollar Stores
$0
Drug Stores
$0
Education
$0
Energy
$0
Entertainment
$0
Equipment Services
$0
Financial Services
$0
Food Processing
$0
Gaming
$0
General Merchandise
$0
Grocery
$0
Health and Beauty
$0
Health and Fitness
$0
Home Furnishings
$0
Insurance
$0
Jewelry
$0
Machinery
$0
Motor Vehicle Dealerships
$0
Office Supplies
$0
Oil & Gas
$0
Other
$0
Other Manufacturing
$0
Packaging
$0
Paper
$0
Pet Supplies and Services
$0
Restaurants-Casual
$0
Restaurants-Quick Service
$0
Shoe Stores
$0
Sporting Goods
$0
Telecommunications
$0
Theaters
$0
Transportation Services
$0
Warehousing and Storage
$0
Wholesale Club
$0

Similar metrics at other companies

Vornado Realty logo
VNOManhattan — Encumbrances
$5.25B-2.3%
Public Storage logo
PSAEvansville — Encumbrances
$0
Public Storage logo
PSAFlint — Encumbrances
$0
Public Storage logo
PSAGreensboro — Encumbrances
$0
Public Storage logo
PSAHonolulu — Encumbrances
$0
Public Storage logo
PSAHouston — Encumbrances
$0

Other financials

Income statement

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Revenue$1.5B+9.7%
Net income$370.5M+86.2%
EPS (diluted)$0.37+68.2%

Balance sheet

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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

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Operating cash flow$1.1B+8.0%
CapEx$57.2M+118%
Free cash flow$1.1B+5.2%

Valuation

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Market cap$59.15B+11.6%
Enterprise value$59.12B+12.2%
P/E45.4×-12.3×
P/S9.8×+0.1×

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×

Where this comes from

Reported directly by Realty Income in its filing.

Tagged under the XBRL concept srt:RealEstateAndAccumulatedDepreciationAmountOfEncumbrances.

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
DescriptionNumber of Properties (Note 1)Encumbrances (Note 2)Initial Cost to Company / LandInitial Cost to Company / Buildings, Improvements and Acquisition FeesCost Capitalized Subsequent to Acquisition / ImprovementsCost Capitalized Subsequent to Acquisition / Carrying CostsGross Amount at Which Carried at Close of Period (Notes 3, 4 and 6) / LandGross Amount at Which Carried at Close of Period (Notes 3, 4 and 6) / Buildings, Improvements and Acquisition FeesGross Amount at Which Carried at Close of Period (Notes 3, 4 and 6) / TotalAccumulated Depreciation (Note 5)Date of ConstructionDate Acquired
Health and Fitness183476,9342,103,78317,424172476,9342,121,3792,598,313497,40920259/29/2025
Health Care52732,007362,4281,247,19717,217198362,4281,264,6121,627,040211,048202312/29/2025
Home Furnishings206243,888562,3389,313119243,888571,770815,65893,89620241/23/2024
Home Improvement2905,887734,2251,398,78883,93435734,2251,482,7572,216,982267,792202512/17/2025
Insurance17542,8407542,8403,594364200610/17/2022
Jewelry55,36758,6885,36758,68864,05512,158200811/1/2021
Machinery46,57769,2251,9916,57771,21677,79313,10520213/22/2023
Motor Vehicle Dealerships91317,912574,3251,976317,912576,301894,213136,618202312/30/2025

Item 16: Form 10-K Summary

FAQ

What is Realty Income's home improvement — encumbrances?
Realty Income (O) reported home improvement — encumbrances of $5.89M in Q4 2025.
What does home improvement — encumbrances mean?
The total value of debt or legal claims secured against the properties within the home improvement segment. This represents the portion of the asset base that is pledged as collateral for financing.

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