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Realty Income cash flow statement

In fiscal 2025, Realty Income's operations generated $3.99bn of cash; it spent $132m on capital projects, leaving free cash flow of $3.86bn. It returned $2.92bn in dividends.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2008Dec 20082009Dec 20092010Dec 20102011Dec 20112016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Cash from operations2462272432998008769411,0691,1161,3222,5642,9593,5733,9954,149
Depreciation and amortisation8990921174504995405946778981,6701,8952,3962,5242,558
Stock-based pay55681214271417422226573136
Capital spending———4131525249199669121132172
Free cash flow———2957868619151,0451,1071,3032,4682,8903,4523,8633,977
Free cash flow after stock pay———2877748478881,0321,0901,2612,4472,8643,3943,8323,941
Dividends paid1701781832196116897628529641,1691,8132,1122,6922,9213,027
Shares issued74043348938470508451,8244,4434,5565,4391,7432,3642,087

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Realty Income's SEC filings (10-K and 10-Q), retrieved November 3, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Realty Income.