W P Carey (WPC) financial statements
W P Carey reported revenue of $1.7B in fiscal 2025, up 6.9% a year over 9 years.
Net income was $466M and the operating margin 46.6%, against 34.0% in 2016.
The diluted share count rose 107% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from W P Carey's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $942M | $848M | $886M | $1.2B | $1.2B | $1.3B | $1.5B | $1.7B | $1.6B | $1.7B |
| Cost of revenue | $92M | $51M | $22M | $17M | $9M | $4M | $3M | $368,000 | — | — |
| Gross profit | $850M | $797M | $864M | $1.2B | $1.2B | $1.3B | $1.5B | $1.7B | — | — |
| Selling, general and admin | $82M | $71M | $68M | $75M | $76M | $82M | $91M | $96M | $99M | $101M |
| Operating income | $320M | $359M | $359M | $502M | $518M | $605M | $612M | $723M | $731M | $799M |
| Interest expense | $183M | $166M | $178M | $233M | $210M | $197M | $219M | $292M | $277M | $291M |
| Pre-tax income | $278M | $288M | $439M | $333M | $445M | $439M | $626M | $752M | $492M | $505M |
| Income tax | $3M | $3M | $14M | $26M | -$21M | $28M | $28M | $44M | $32M | $32M |
| Net income | $268M | $277M | $412M | $305M | $455M | $410M | $599M | $708M | $461M | $466M |
| EPS (diluted) | $2.49 | — | — | — | — | — | — | — | — | — |
| Diluted shares | 107M | 108M | 118M | 171M | 175M | 183M | 200M | 216M | 221M | 221M |
| Gross margin | 90.2% | 93.9% | 97.5% | 98.7% | 99.3% | 99.7% | 99.8% | 100.0% | — | — |
| Operating margin | 34.0% | 42.3% | 40.6% | 40.7% | 42.8% | 45.4% | 41.4% | 41.5% | 46.2% | 46.6% |
| Net margin | 28.4% | 32.7% | 46.5% | 24.8% | 37.7% | 30.8% | 40.5% | 40.7% | 29.1% | 27.2% |
Balance sheet
Fiscal years, from W P Carey's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $155M | $162M | $218M | $196M | $249M | $165M | $168M | $634M | $640M | $155M |
| Goodwill | $636M | $644M | $921M | $935M | $911M | $902M | $1.0B | $978M | $968M | $987M |
| Total assets | $8.5B | $8.2B | $14.2B | $14.1B | $14.7B | $15.5B | $18.1B | $18.0B | $17.5B | $18.0B |
| Total liabilities | $5.0B | $4.8B | $7.4B | $7.1B | $7.8B | $7.9B | $9.1B | $9.3B | $9.1B | $9.9B |
| Shareholders' equity | $3.3B | $3.2B | $6.8B | $6.9B | $6.9B | $7.6B | $9.0B | $8.7B | $8.4B | $8.1B |
| Net debt | -$155M | -$162M | -$218M | -$196M | -$249M | -$165M | -$168M | -$634M | -$640M | -$155M |
Cash flow
Fiscal years, from W P Carey's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $547M | $521M | $509M | $812M | $802M | $926M | $1.0B | $1.1B | $1.8B | $1.3B |
| Stock-based compensation | $21M | $19M | $18M | $19M | $16M | $25M | $33M | $35M | $41M | $40M |
| Dividends paid | $417M | $431M | $440M | $704M | $727M | $764M | $835M | $917M | $765M | $790M |
| Share buybacks (net) | $0 | $0 | -$1M | $0 | $0 | — | — | — | — | — |
| Dividends per share | $3.89 | $3.99 | $3.74 | $4.11 | $4.16 | $4.17 | $4.17 | $4.25 | $3.47 | $3.57 |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for WPC.
Open WPC in InvestinglyQuestions
What was W P Carey's revenue in 2025?
$1.7B in fiscal 2025, from its 10-K filing.
From W P Carey's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.