Direct Answer
Realty Income reports revenue across 3 product and service lines in its fiscal 2025 Form 10-K. Product and Service Retail is the largest, with $4.3 billion of revenue (75% of the total), followed by Product and Service Industrial at $864 million (15%).
How Does Realty Income Make Money?
Product and Service Retail supplies 75% of revenue, so Realty Income's results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, Product and Service Industrial grew fastest (+8.7%) and Product and Service Other slowest (+3.6%), so the revenue mix tilts toward Product and Service Industrial while that gap lasts.
| Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Product and Service Retail | $4.3 billion | $4.0 billion | 75.2% | 7.9% |
| Product and Service Industrial | $864 million | $795 million | 15.0% | 8.7% |
| Product and Service Other | $247 million | $239 million | 4.3% | 3.6% |
What the Segment Figures Do Not Show
The rows above add up to 95% of Realty Income's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.
Where These Numbers Come From
Every figure on this page is a value Realty Income reported in the segment note and revenue disclosures of its Form 10-K filed February 25, 2026 (accession 0000726728-26-000011), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.
Frequently Asked Questions
What are Realty Income's main products and services?
In its fiscal 2025 Form 10-K, Realty Income reports revenue for Product and Service Retail, Product and Service Industrial and Product and Service Other.
Which part of Realty Income brings in the most revenue?
Product and Service Retail, with $4.3 billion of revenue in fiscal 2025, or 75% of the total.
Where does Realty Income report its segment results?
In the segment note to the financial statements in its Form 10-K, most recently filed February 25, 2026, alongside management's discussion of each segment's results.