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W.P. Carey Inc. logo

W.P. Carey Inc. Income Statement

Revenue, expenses, and profitability over time

W.P. Carey Inc. generated $1.8B in trailing twelve-month revenue, up 0.1% year-over-year. Net income was $516.8M with a 29.35% net margin. Diluted EPS is $2.34, which grew 0.2% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$1.8BGross Profit (TTM)$1.7BNet Income (TTM)$516.8MEps Diluted (TTM)$2.34
Latest FilingQ1 2026
Report Date2026-04-29
Market Cap$16.8B
P/E Ratio32.57
ROE6.19%

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Compensation and benefits—$9.1M$10.9M$11.2M—$7.4M
Depreciation and amortization$115.8M$129.6M$120.6M$125.6M$145.3M$136.2M
General and administrative$24.3M$27M$24.2M$23.7M$25.9M$27.3M
Occupancy and equipment$12.6M$11.7M$13.6M$14.6M$13.9M$14.6M
Real Estate Insurance—$700K$700K———
Provision for credit losses$16.8M$12.3M$9.9M$4.8M$218K-$655K
Total operating expenses$221.9M$218.5M$208.3M$225.1M$265.1M$255.1M

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$0.21$0.57$0.23$0.64$0.67$0.80
Continuing operations (in dollars per share)$0.2$0.6$0.2$0.6$0.7$0.8
Continuing operations (in dollars per share)$0.2$0.6$0.2$0.6$0.7$0.8
Weighted-average shares, basic220.2M220.4M220.6M220.6M220.5M220.6M
Weighted-average shares, diluted220.5M220.7M220.9M221.1M221.1M221.6M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income from equity method investments$302K$5.4M$6.2M$2.4M$4.1M$4.5M
Gain (loss) on disposal of assets$4.5M$43.8M$52.8M$44.4M$52.8M$54.1M
Interest expense$70.9M$68.8M$71.8M$75.2M$75.4M$78.5M
Net investment gains (losses)—-$3.1M-$6.4M$550K—$2.5M
Other income (expense), net-$129.5M-$53.9M-$158.1M-$56.4M-$26.1M-$8.3M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$54.8M$137.4M$64.4M$149.7M$153.3M$191.1M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense$7.8M$11.6M$13.1M$8.5M$0$14.6M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income attributable to noncontrolling interests—-$8K$92K$229K—$194K
Net income$47M$125.8M$51.2M$141M$148.3M$176.3M
Income from continuing operations$0.21$0.57$0.23$0.64$0.67$0.80
Preferred stock dividends—$196.6M$198.8M$201.1M—$208.9M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Deferral of deferred vested shares, net—$0$0$0——
Share-based compensation expense related to employee stock plans—$9.1M$10.9M$11.2M—$7.4M
Pre-tax stock-based compensation cost$9.7M$9.1M$10.9M$11.2M$8.7M$7.4M
Stock-based compensation expense$9.7M$9.1M$10.9M$11.2M$8.7M$7.4M
Amortization of capitalized software and acquired intangible assets—$48M$40.2M$44.8M—$42.7M
Amortization Of Rent Related Intangibles And Deferred Rental Revenue—$1.3M$5M$4.2M—-$4.8M
Capital Contributions to Equity Method Investments—$1.2M$2M——$0
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation—-$473.1M—-$76.6M—$15.3M
Proceeds from the dispositions————$16.8M—
Dividends declared (in dollars per share)—$0.89$0.90$0.91—$0.93
Comprehensive Income (Loss), Net of Tax, Attributable to Parent—$125.3M$37.2M$143.5M—$188.4M
Less: comprehensive income attributable to noncontrolling interest—$181K$305K$310K—$158K
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest—$125.5M$37.5M$143.8M—$188.5M
Deferred taxes$0-$782K$2.8M-$1.2M-$11.7M$2.7M
Depreciation, Amortization and Accretion, Net$120.8M$134.5M$125M$129.2M$148.9M$139.9M
Direct Financing Lease Lease Income—$7.7M$7.7M$7.5M—$7.6M
Effect of exchange rate changes on cash, cash equivalents and restricted cash—$8.8M$11.6M$165K—-$16.1M
Lease payments—$1M$3.4M$300K—$2M
Distributions of earnings from equity method investees$4.2M$5.9M$4.5M$2.1M$3.4M$4M
Capitalized construction cost—$15M$23.1M$23.9M—$17.3M
Gain on termination of lease—$1.7M$5.7M$2.9M—$7.8M
Foreign Currency Translation and Other Adjustments—$6.7M$11.9M$500K—-$3.1M
Impairment Of Real Estate$27.8M$6.9M$4.3M$19.5M$39.7M$40M
Income from finance leases and loans receivable$16.8M$17.5M$20.3M$26.5M$26.7M$27.7M
Secured loans receivable—$607K$641K$668K—$678K
Increase (Decrease) in Other Operating Assets and Liabilities, Net-$29.7M-$2.6M$36M-$9.4M-$32.8M$3.1M
Interest capitalized—$200K$300K$200K—$400K
Merger And Other Expenses, Operating—$556K$192K$1M$478K$1.2M
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders—$50K$70K$203K—$32K
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation—-$581.2M—-$162.1M-$179.4M$211M
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$697.9M-$173.9M-$368M-$215.1M-$203.2M-$462.8M
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$296.3M$273.2M$404M$300.5M$304.6M$283.2M
Net Income Loss Attributable To Noncontrolling Interest—-$8K$92K$229K—$194K
Purchase of non-controlling interest——$4.8M$2.9M—$0
Construction projects completed (property)1.006.00——5.008.00
Number of operating segments—1.00———1.00
Number of reportable segments—1.00———1.00
Lease income — operating leases$332.9M$353.8M———$402.8M
Operating lease income—$314.1M———$358M
Operating Lease Variable Lease Income—$39.7M———$44.8M
Operating property expenses$16.6M$16.5M$16.7M$15M$11.9M$8.7M
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax—-$160.5M-$329.2M$1.3M—$107M
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Noncontrolling Interest—$189K$213K$81K—-$36K
AOCI before reclass, net of taxes—$3.6M-$11.1M$1.4M—$11.5M
Cash flow hedges—-$12.5M-$32.2M$7.7M—$17.5M
Unrealized gains (losses) on hedge instruments—-$12.5M-$32.2M$7.8M—$17.6M
Foreign currency translation gains (losses)—$12.2M$18.3M-$5.2M—-$5.6M
Other comprehensive income (loss)—-$310K-$13.8M$2.6M—$12M
Other income, net (Note 6)$13.8M$7.9M$3.5M$3M$2.5M$4.7M
Payment Of VAT Connection With Acquisition Of Real Estate—$6.7M———$47.7M
Payment for (Proceeds from) Other Investing Activity—-$5.7M——-$6.7M$9.5M
Payments of Ordinary Dividends, Common Stock$192.7M$195.1M$196M$198.3M$200.6M$205.3M
Payments of Financing Costs—$331K$503K$3.2M—$8.7M
Payment, Tax Withholding, Share-Based Payment Arrangement$0$5.2M—$9.7M—$7.5M
Payments to Acquire Equity Method Investments$0$5M———$0
Advances on loans receivable—$93.2M$175.7M$109.6M—$34.9M
Cash disbursed for acquisitions$552.1M$176.9M$365.3M$499.7M$615.4M$494.7M
Payments To Acquire Real Estate Under Construction—$27.2M———$33.2M
Proceeds from Equity Method Investment, Distribution, Return of Capital$0$3.1M$0$749K$1.8M$452K
Proceeds from Issuance of Common Stock$0$0———$247.1M
Net Proceeds from Issuance of Long-Term Debt—$0$0$396.4M—$1.2B
Proceeds From Issuance Of Unsecured Debt$0$86.2M———$255.3M
Financing — other—-$2M$6M$1.4M—$3.9M
Proceeds From Sale Of Real Estate Heldforinvestment$121.9M$110.4M$198.6M$461M$510.1M$146.5M
Proceeds from sales of net investments in sales-type leases—$16.3M$162M$22M—$10.2M
Proceeds From Unsecured Lines Of Credit—$591M$875M$863.6M—$894.9M
Value added taxes refunded in connection with acquisition of real estate—$17.1M———$10.3M
Realized Gain (Loss) On Foreign Currency Transactions And Other—-$29.9M-$138.9M-$26.1M—$6.9M
Reclassified net gains (losses) from AOCI into earnings—$3.9M$2.7M-$1.2M—-$500K
Reimbursable tenant costs$15.7M$17.1M$17.7M$14.6M$19.4M$19.7M
Repayments of Lines of Credit$254.6M$443.2M$421.8M$1.2B$704M$1.3B
Repayments of Secured Debt—$72.3M$106.5M$44.2M—$38.8M
Payments on debt$0$90.2M———$253.2M
Repayments of Unsecured Debt$0$450M———$573.8M
Gains on sale and leaseback transactions, net—$8.9M$11.4M$17.9M—$19.2M
Sales-type lease revenue—$307K$531K$421K—$239K
Vested, grant-date fair value—$40.9M$400K$2.2M—$36.7M
Issuance of common stock in connection with the Spin-Off and reclassification of net parent investment—————$247.1M
Issuance of vested restricted stock units—-$5.2M—-$9.7M—-$7.5M
Straight line rent receivables—-$21.5M-$15.7M-$21.1M—-$23.4M
Add: dilutive effect of potential common shares (in shares)—$319.2K$305.7K$524.9K—$997.8K

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Rental income$332.9M$353.8M———$402.8M
Total revenue$406.2M$409.9M$430.8M$431.3M$444.5M$454.5M