SequelSEC

W. P. Carey Inc. WPC

Real Estate Investment Trusts · CIK 0001025378 · Fiscal year ends 1231

AnnualQuarterlyTTM
Revenue
$1.72B
Fiscal year ended 2025-12-31
Operating income
Unavailable
Fiscal year ended 2025-12-31
Free cash flow
Unavailable
Fiscal year ended 2025-12-31

Valuation, from the filing

Public float$13.60BMarket value of stock held by non-affiliates, as stated on the cover page for 2025-06-30
Float per share$62.06Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself.
Float / net income29.2×A lower bound on the multiple, because affiliate holdings are excluded.
Float / revenue7.9×A lower bound on the multiple, because affiliate holdings are excluded.
Float / equity1.7×A lower bound on the multiple, because affiliate holdings are excluded.

Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.

Valuation over time

29.2× earnings today, against a median of 26.3× across 10 years on record. Above its own history.

Float measuredPublic floatFloat / net income
2025-06-30$13.60B29.2×
2024-06-30$12.00B26.0×
2023-06-30$14.40B20.3×
2022-06-30$15.90B26.5×
2021-06-30$13.70B33.4×
2020-06-30$11.70B25.7×
2019-06-30$13.80B45.2×
2018-06-30$7.10B17.3×
2017-06-30$7.00B25.2×
2016-06-30$7.20B26.9×

Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.

How this compares in its industry

Percentile among the Real Estate Investment Trusts filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.

MeasureReportedPercentile
Effective tax rate6.3%81th
Revenue YoY growth8.4%73th
Net margin27.2%69th
Long-term debt / equity1.07x49th

W. P. Carey Inc. (WPC) reported revenue of $1.72B and net income of $466.36M for the fiscal year ended 2025-12-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from W. P. Carey Inc.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Real Estate Investment Trusts.

Income

W. P. Carey Inc. income by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-31
Revenue$1.72B$1.58B$1.74B$1.48B$1.33B$1.21B$1.23B$885.73M$848.30M$941.53M
Cost of revenueUnavailableUnavailable$368.00K$2.52M$4.04M$8.86M$16.55M$21.92M$51.44M$91.87M
Gross profitUnavailableUnavailableUnavailableUnavailable$1.33B$1.20B$1.22B$863.81M$796.86M$849.66M
Operating incomeUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Net income$466.36M$460.84M$708.33M$599.14M$409.99M$455.36M$305.24M$411.57M$277.29M$267.75M
Research & developmentUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Weighted-average diluted sharesshares 221.11Mshares 220.52Mshares 215.76Mshares 200.43Mshares 183.13Mshares 174.84Mshares 171.30Mshares 117.71Mshares 108.04Mshares 107.07M
Pretax income$504.82M$492.34M$752.32M$626.21M$438.61M$445.20M$332.76M$438.75M$287.79M$278.10M
Income tax expense$31.91M$31.71M$44.05M$27.72M$28.49M-$20.76M$26.21M$14.41M$2.71M$3.29M
Diluted EPSUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable$2.49
Selling, general & administrativeUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
General & administrative$100.67M$98.97M$96.40M$91.47M$81.89M$75.95M$75.29M$68.34M$70.89M$82.35M
Selling & marketingUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Balance

W. P. Carey Inc. balance by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-31
Cash & equivalents$155.33M$640.37M$633.86M$168.00M$165.43M$248.66M$196.03M$217.64M$162.31M$155.48M
Total assets$17.99B$17.54B$17.98B$18.10B$15.48B$14.71B$14.06B$14.18B$8.23B$8.45B
Current assetsUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Total liabilities$9.86B$9.10B$9.27B$9.09B$7.90B$7.83B$7.11B$7.35B$4.82B$5.03B
Current liabilitiesUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Total equity incl. NCI$8.13B$8.43B$8.71B$9.01B$7.58B$6.88B$6.95B$6.83B$3.41B$3.43B
Temporary (mezzanine) equityUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable$0$965.00K$965.00K
InventoryUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Accounts receivableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Goodwill$987.07M$967.84M$978.29M$1.04B$901.53M$910.82M$934.69M$920.94M$643.96M$635.92M
Long-term debt$8.72B$8.04B$8.14B$7.88B$6.79B$6.70B$6.05B$6.38B$4.27B$4.44B
Accounts payableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Cash flow

W. P. Carey Inc. cash flow by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-31
Operating cash flow$1.28B$1.83B$1.07B$1.00B$926.48M$801.54M$812.08M$509.17M$520.66M$546.80M
Capital expendituresUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Investing cash flow-$960.14M-$1.13B-$905.88M-$1.05B-$1.57B-$539.93M-$522.77M-$266.13M$214.24M-$284.74M
Financing cash flow-$761.71M-$688.47M$292.56M$57.89M$557.05M-$210.71M-$457.78M-$24.29M-$745.47M-$282.02M
Net change in cash-$418.31M-$1.27M$467.83M$6.19M-$93.83M$60.26M-$172.54M$214.39M-$1.06M-$27.30M
Stock-based compensationUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Common dividends paid$790.03M$765.15M$916.53M$835.26M$764.28M$726.96M$704.40M$440.43M$431.18M$416.66M
Common share repurchasesUnavailableUnavailableUnavailableUnavailableUnavailable$0$0$1.18M$0$0
Depreciation & amortization$521.13M$487.72M$574.21M$503.40M$475.99M$442.94M$447.14M$291.44M$253.33M$276.51M

Derived

W. P. Carey Inc. derived by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-31
Free cash flowUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Gross marginUnavailableUnavailableUnavailableUnavailable99.7%99.3%98.7%97.5%93.9%90.2%
Operating marginUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
FCF marginUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
SBC / revenueUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Current ratioUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Revenue YoY growth8.4%-9.1%17.7%11.1%10.1%-1.9%39.2%4.4%-9.9%Unavailable
Net margin27.2%29.1%40.7%40.5%30.8%37.7%24.8%46.5%32.7%28.4%
R&D / revenueUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
CapEx / revenueUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Long-term debt / equity1.07xUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Effective tax rate6.3%6.4%5.9%4.4%6.5%-4.7%7.9%3.3%0.9%1.2%

Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open WPC in the interactive workspace to inspect any figure back to its filing.

Source filings

10-Q · Filed 2026-10-28View SEC filing
10-Q · Filed 2026-07-29View SEC filing
10-Q · Filed 2026-04-29View SEC filing
10-K · Filed 2026-02-11View SEC filing
10-Q · Filed 2025-10-29View SEC filing
10-Q · Filed 2025-07-30View SEC filing

Companies in the same industry

AAT ABR ACR ACRE ADAM ADC AGNC AHR AHT AIV AKR ALX

Reconciliation checks needing review

2 periods on this page do not reconcile under this site’s normalization. Read that as a limitation here before an observation about the company: the figures are the filer’s own, the filings linked above are authoritative, and a difference usually means the concepts this site selected do not match how this filer presents its statements. Nothing is adjusted to make a check pass.

gross profit bridgeinconsistent2023-12-31

Withheld: gross profit could not be reconciled with the rest of this filer’s statement.

gross profit bridgeinconsistent2022-12-31

Withheld: gross profit could not be reconciled with the rest of this filer’s statement.