What is Realty Income's home improvement — land?

Realty Income (O) reported home improvement — land of $1.68B in Q4 2025.

What does home improvement — land mean?

The current book value of land assets held within the home improvement segment. This reflects the portion of the real estate portfolio that is not subject to depreciation.

Realty Income O Home Improvement — Land

Other product segments

Grocery

$2.61B—

Convenience Store

$2.22B—

Restaurants-Quick Service

$1.04B—

Dollar Stores

$970.58M—

General Merchandise

$769.16M—

Drug Stores

$766.13M—

Automotive Services

$719.54M—

Restaurants-Casual

$707.31M—

Health and Fitness

$521.87M—

Sporting Goods

$435.27M—

Home Furnishings

$430.89M—

Gaming

$419.46M—

Wholesale Club

$413.82M—

Health Care

$391.12M—

Transportation Services

$384.04M—

Motor Vehicle Dealerships

$335.21M—

Apparel

$323.59M—

Financial Services

$298.82M—

Theaters

$283.22M—

Entertainment

$250.05M—

Automotive Collision Service

$229.45M—

Automotive Tire Services

$216.35M—

Automotive Parts

$206.24M—

Child Care

$196.58M—

Other

$193.26M—

Beverage

$184.58M—

Diversified Industrial

$156.78M—

Consumer Electronics

$150.89M—

Pet Supplies and Services

$147.02M—

Other Manufacturing

$132.4M—

Crafts and Novelties

$129.79M—

Food Processing

$118.77M—

Packaging

$74.72M—

Warehousing and Storage

$68.75M—

Energy

$55.2M—

Equipment Services

$40.92M—

Consumer Goods

$29.22M—

Education

$28.59M—

Machinery

$23.04M—

Office Supplies

$19.71M—

Advertising

$19.38M—

Aerospace

$10.04M—

Shoe Stores

$7.55M—

Health and Beauty

$6.7M—

Jewelry

$5.37M—

Telecommunications

$4.69M—

Consumer Appliances

$4.28M—

Paper

$2.46M—

Insurance

$754K—

Oil & Gas

$754K—

Similar metrics at other companies

STWDCommercial and Residential Lending Segment — Land and land improvements

$184.28M+50.9%

GISLand

$50.4M-12.0%

DISLand

$1.19B-0.5%

STWDInvesting and Servicing Segment — Land and land improvements

$16.57M—

MKCLand And Improvements

$98.6M+4.8%

AVBLand

$4.99B+1.7%

Other financials

Income statement

See full

Revenue$1.5B+12.2%

Net income$320.9M+28.5%

EPS (diluted)$0.33+17.9%

Balance sheet

See full

Cash & equivalents$373.5M+17.1%

Total debt$545.1M+3.7%

Total equity$39.1B+0.3%

Total assets$74.6B+6.9%

Cash flow

See full

Operating cash flow$874.5M+11.0%

CapEx$26.3M+14.9%

Free cash flow$848.2M+10.9%

Valuation

See full

Market cap$57.85B+12.0%

Enterprise value$58.02B+11.9%

P/E51.2×-1.6×

P/S9.8×+0.2×

Profitability

See full

Net margin19.1%+0.9pp

FCF margin66.7%+2.7pp

Returns & leverage

See full

Return on equity2.9%+0.4pp

Debt / equity0×0.0×

Where this comes from

Reported directly by Realty Income in its filing.

Tagged under the XBRL concept us-gaap:RealEstateAndAccumulatedDepreciationCarryingAmountOfLand.

The official record: Realty Income’s 10-K, filed February 25, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Realty Income's home improvement — land?: Realty Income (O) reported home improvement — land of $1.68B in Q4 2025.
What does home improvement — land mean?: The current book value of land assets held within the home improvement segment. This reflects the portion of the real estate portfolio that is not subject to depreciation.