15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 7.3% per year over the past 5 years.
Net income has grown slower than revenue (0.5% vs 7.3% per year).
Financial health
Total debt ($8.7B) exceeds cash ($155M); net debt is $8.6B.
Total debt has grown in line with revenue (5.4% vs 7.3% per year).
Shareholder returns
Dividends have been paid for 15 consecutive years, consuming 169.4% of earnings.
The dividend has grown 1.7% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$1.7B
$466M
0.0%
0.0%
—
$8.7B
$155M
2024
$1.6B
$461M
0.0%
0.0%
—
$8.0B
$640M
2023
$1.7B
$708M
100.0%
0.0%
—
$8.1B
$634M
2022
$1.5B
$599M
99.8%
0.0%
—
$7.9B
$168M
2021
$1.3B
$410M
99.7%
0.0%
—
$6.8B
$165M
2020
$1.2B
$455M
99.3%
0.0%
—
$6.7B
$249M
2019
$1.2B
$305M
98.7%
0.0%
—
$6.1B
$196M
2018
$886M
$412M
97.5%
0.0%
—
$6.4B
$218M
2017
$848M
$277M
93.9%
0.0%
—
$4.3B
$162M
2016
$942M
$268M
90.2%
0.0%
—
$4.4B
$155M
2015
$938M
$172M
0.0%
22.4%
—
$4.5B
$157M
2014
$908M
$240M
0.0%
24.7%
—
$250M
$199M
2013
$490M
$99M
0.0%
17.5%
—
$475M
$118M
2012
$352M
$62M
0.0%
26.8%
—
$2.0B
$124M
2011
$310M
$139M
0.0%
0.0%
—
—
$29M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$455M
$176M
0.0%
0.0%
—
$8.8B
$239M
Dec '25
$445M
$148M
0.0%
0.0%
—
$8.7B
$155M
Sep '25
$431M
$141M
0.0%
0.0%
—
$8.7B
$249M
Jun '25
$431M
$51M
0.0%
0.0%
—
$8.6B
$245M
Mar '25
$410M
$126M
0.0%
0.0%
—
$7.9B
$188M
Dec '24
$406M
$47M
0.0%
0.0%
—
$8.0B
$640M
Sep '24
$397M
$112M
0.0%
0.0%
—
$8.0B
$818M
Jun '24
$390M
$143M
0.0%
0.0%
—
$8.1B
$1.1B
Mar '24
$390M
$159M
0.0%
0.0%
—
$7.9B
$777M
Dec '23
$412M
$144M
100.0%
0.0%
—
$8.1B
$634M
Sep '23
$449M
$125M
100.0%
0.0%
—
$8.3B
$136M
Jun '23
$453M
$145M
100.0%
0.0%
—
$8.6B
$204M
Mar '23
$428M
$294M
100.0%
0.0%
—
$8.3B
$148M
Dec '22
$403M
$210M
100.0%
0.0%
—
$7.9B
$168M
Sep '22
$384M
$105M
99.9%
0.0%
—
$7.8B
$186M
Jun '22
$344M
$128M
99.7%
0.0%
—
$6.8B
$104M
Mar '22
$348M
$157M
99.7%
0.0%
—
$6.8B
$205M
Dec '21
$375M
$100M
99.7%
0.0%
—
$6.8B
$165M
Sep '21
$326M
$139M
99.7%
0.0%
—
$6.7B
$130M
Jun '21
$320M
$120M
99.7%
0.0%
—
$6.8B
$165M
Valuation over time
How the market has priced WPC against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 28.8× (Mar '23) to 35.0× (Jun '26).
The price-to-sales ratio has fallen from 11.7× (Mar '23) to 9.5× (Jun '26).
The dividend yield has fallen from 4.8% (Mar '23) to 4.8% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is WPC growing its revenue and profit?
Over the past 5 years, W. P. Carey Inc.'s revenue has grown 7.3% per year, and net income grown 0.5% per year. These are computed facts, not advice.
How much debt does WPC have?
As of FY2025, W. P. Carey Inc. reported $8.7B of total debt against $155M of cash.
What is WPC's profit margin?
In FY2025, gross margin was —, operating margin —, and net margin 27.2%.
What is WPC's P/E ratio?
As of Jun '26, W. P. Carey Inc. traded at a price-to-earnings ratio of about 35.0× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.