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W.P. Carey (WPC) Financials

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$68.69 +0.23 (+0.34%)
Closing price 09/12/2025 03:59 PM Eastern
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Annual Income Statements for W.P. Carey

Annual Income Statements for W.P. Carey

This table shows W.P. Carey's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 172 268 277 412 305 455 410 599 708 461
Consolidated Net Income / (Loss)		 185 275 285 424 307 466 410 598 708 461
Net Income / (Loss) Continuing Operations		 179 275 285 363 315 466 410 598 689 443
Total Pre-Tax Income 		216 278 288 377 333 445 439 626 752 492
Total Revenue		 938 942 683 826 1,008 1,036 1,122 1,575 1,705 1,445
Net Interest Income / (Expense)		 0.00 0.00 -166 -178 -233 -210 -197 0.00 0.00 0.00
Total Interest Income		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Interest Expense		 0.00 0.00 166 178 233 210 197 0.00 0.00 0.00
Total Non-Interest Income		 938 942 848 1,004 1,242 1,246 1,319 1,575 1,705 1,445
Net Realized & Unrealized Capital Gains on Investments		 - - - 119 8.92 37 -13 96 -36 -138
Other Non-Interest Income		 833 942 848 886 1,233 1,209 1,332 1,479 1,741 1,583
Total Non-Interest Expense		 581 622 456 526 731 692 727 867 1,018 852
Salaries and Employee Benefits		 22 18 19 87 94 92 107 124 131 140
Net Occupancy & Equipment Expense		 52 49 41 43 78 54 58 78 140 121
Other Operating Expenses		 197 207 130 59 80 67 66 74 82 56
Depreciation Expense		 280 277 253 291 447 443 476 503 574 488
Impairment Charge		 30 59 2.77 4.79 33 36 24 39 86 44
Other Special Charges		 - - - 41 0.10 0.25 -4.55 19 4.95 4.46
Nonoperating Income / (Expense), net		 -141 -42 61 78 64 100 43 -111 46 -118
Income Tax Expense		 38 3.29 2.71 14 26 -21 28 28 44 32
Other Adjustments to Consolidated Net Income / (Loss)		 6.49 - - 62 - - - 30 20 18
Net Income / (Loss) Attributable to Noncontrolling Interest		 13 7.06 7.79 13 1.30 11 0.13 -0.66 -0.07 -0.21
Basic Earnings per Share		 $1.62 $2.50 - $3.50 $1.78 $2.61 $2.25 $3.00 $3.29 $2.09
Weighted Average Basic Shares Outstanding		 105.68M 106.74M 107.82M 117.49M 171.00M 174.50M 182.49M 199.63M 215.37M 220.17M
Diluted Earnings per Share		 $1.61 $2.49 - $3.49 $1.78 $2.60 $2.24 $2.99 $3.28 $2.09
Weighted Average Diluted Shares Outstanding		 106.51M 107.07M 108.04M 117.71M 171.30M 174.84M 183.13M 200.43M 215.76M 220.52M
Weighted Average Basic & Diluted Shares Outstanding		 106.30M 107.10M 106.93M - 172.28M 175.40M 190.61M 210.62M 218.67M 218.85M
Cash Dividends to Common per Share		 $3.81 $3.90 $3.99 $4.07 $4.13 $4.16 $4.20 $4.23 $5.03 $3.47

Quarterly Income Statements for W.P. Carey

This table shows W.P. Carey's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 105 210 294 145 125 144 159 143 112 47 126
Consolidated Net Income / (Loss)		 104 210 294 145 125 144 159 143 112 47 126
Net Income / (Loss) Continuing Operations		 104 210 294 145 125 125 159 136 112 36 126
Total Pre-Tax Income 		113 216 310 155 130 158 168 149 121 55 137
Total Revenue		 379 582 369 453 449 435 335 327 413 370 454
Net Interest Income / (Expense)		 0.00 92 -67 0.00 0.00 67 -69 -65 0.00 134 0.00
Total Interest Income		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Interest Expense		 0.00 -92 67 0.00 0.00 -67 69 65 0.00 -134 0.00
Total Non-Interest Income		 379 489 436 453 449 367 404 392 413 236 454
Net Realized & Unrealized Capital Gains on Investments		 -4.74 87 8.10 - - - 14 2.50 16 -170 44
Other Non-Interest Income		 384 403 428 448 447 419 390 390 397 406 410
Total Non-Interest Expense		 247 235 247 232 257 283 203 233 194 222 218
Salaries and Employee Benefits		 5.51 57 34 9.00 9.05 79 37 33 13 57 9.15
Net Occupancy & Equipment Expense		 21 26 34 32 40 34 30 32 29 29 28
Other Operating Expenses		 42 -3.63 22 45 44 -29 13 14 36 -7.02 44
Depreciation Expense		 132 141 156 144 145 129 119 137 116 116 130
Impairment Charge		 29 -17 - 0.00 15 - - 16 0.00 - 6.85
Restructuring Charge		 18 - - 1.42 4.15 - - - 0.28 - 0.56
Nonoperating Income / (Expense), net		 -20 -161 188 -66 -62 -14 36 49 -98 -105 -98
Income Tax Expense		 8.26 6.13 15 10 5.09 14 8.67 6.22 9.04 7.77 12
Net Income / (Loss) Attributable to Noncontrolling Interest		 -0.66 -0.04 0.06 -0.04 -0.04 -0.05 -0.14 -0.04 -0.05 0.02 -0.01
Weighted Average Basic Shares Outstanding		 203.09M 199.63M 211.95M 215.08M 215.10M 215.37M 220.03M 220.20M 220.22M 220.17M 220.40M
Weighted Average Diluted Shares Outstanding		 204.10M 200.43M 212.35M 215.18M 215.25M 215.76M 220.13M 220.21M 220.40M 220.52M 220.72M
Weighted Average Basic & Diluted Shares Outstanding		 208.03M 210.62M 213.90M 213.93M 218.67M 218.67M 218.82M 218.85M 218.85M 218.85M 218.98M
Cash Dividends to Common per Share		 $1.06 $1.06 $1.07 $1.07 $1.07 $1.83 $0.87 $0.87 $0.88 $0.86 $0.89

Annual Cash Flow Statements for W.P. Carey

This table details how cash moves in and out of W.P. Carey's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -41 -27 -1.06 214 -173 60 -94 6.19 468 -1.27
Net Cash From Operating Activities		 509 547 521 509 812 802 926 1,004 1,073 1,833
Net Cash From Continuing Operating Activities		 509 547 521 509 812 802 926 1,004 1,073 1,833
Net Income / (Loss) Continuing Operations		 185 275 285 424 307 466 410 598 708 461
Consolidated Net Income / (Loss)		 185 275 285 424 307 466 410 598 708 461
Provision For Loan Losses		 8.75 7.06 - 0.00 0.00 22 0.27 -14 29 28
Depreciation Expense		 288 280 261 298 460 456 491 520 594 507
Amortization Expense		 29 3.32 55 51 85 53 57 43 34 24
Non-Cash Adjustments to Reconcile Net Income		 32 -26 -31 -182 7.67 -185 -4.76 -128 -263 811
Changes in Operating Assets and Liabilities, net		 -34 7.60 -50 -82 -47 -11 -27 -15 -29 2.53
Net Cash From Investing Activities		 -645 -285 214 -266 -523 -540 -1,567 -1,053 -906 -1,134
Net Cash From Continuing Investing Activities		 -645 -285 214 -266 -523 -540 -1,567 -1,053 -906 -1,134
Purchase of Property, Leasehold Improvements and Equipment		 -28 -64 -78 -108 -165 -207 -114 -104 -122 -135
Purchase of Investment Securities		 -885 -820 -157 -749 -757 -781 -1,673 -1,729 -1,250 -1,416
Divestitures		 - 0.00 0.00 114 - 0.00 0.00 331 0.00 0.00
Sale and/or Maturity of Investments		 56 563 171 17 353 397 158 423 460 422
Other Investing Activities, net		 212 37 278 29 47 52 62 26 4.96 -4.96
Net Cash From Financing Activities		 121 -282 -745 -24 -458 -211 557 58 293 -688
Net Cash From Continuing Financing Activities		 121 -282 -745 -24 -458 -211 557 58 293 -688
Issuance of Debt		 2,090 1,537 1,837 2,587 2,207 1,814 3,386 2,697 3,094 2,955
Issuance of Common Equity		 0.52 84 23 288 523 0.16 340 218 0.00 0.00
Repayment of Debt		 -1,522 -1,452 -2,218 -2,425 -2,466 -1,481 -3,091 -2,306 -2,836 -2,842
Payment of Dividends		 -418 -434 -452 -459 -706 -732 -764 -836 -920 -767
Other Financing Activities, Net		 -29 -17 65 -14 -16 189 687 284 955 -34
Effect of Exchange Rate Changes		 -26 -7.34 9.51 -4.36 -4.07 9.37 -11 -2.72 7.72 -12

Quarterly Cash Flow Statements for W.P. Carey

This table details how cash moves in and out of W.P. Carey's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Change in Cash & Equivalents		 50 -26 6.69 55 -72 478 412 126 -351 -188 -473
Net Cash From Operating Activities		 256 301 283 248 282 261 1,036 221 280 296 273
Net Cash From Continuing Operating Activities		 256 301 283 248 282 261 1,036 221 280 296 273
Net Income / (Loss) Continuing Operations		 104 210 294 145 125 144 159 143 112 47 126
Consolidated Net Income / (Loss)		 104 210 294 145 125 144 159 143 112 47 126
Provision For Loan Losses		 -27 13 -3.42 -0.21 -2.48 35 -4.00 -1.09 16 17 12
Depreciation Expense		 136 146 161 149 150 134 123 142 121 121 135
Amortization Expense		 12 8.87 11 9.03 7.90 6.26 4.14 5.56 4.52 10 1.28
Non-Cash Adjustments to Reconcile Net Income		 23 -116 -186 -13 -1.75 -62 768 -32 2.52 72 -3.38
Changes in Operating Assets and Liabilities, net		 6.53 39 5.94 -42 3.84 2.70 -16 -37 25 30 2.65
Net Cash From Investing Activities		 -459 -33 -587 -318 113 -113 -237 -150 -49 -698 -174
Net Cash From Continuing Investing Activities		 -459 -33 -587 -318 113 -113 -237 -150 -49 -698 -174
Acquisitions		 - - -2.62 -2.92 -1.57 - -27 -1.90 -7.42 - -6.70
Purchase of Investment Securities		 -853 -176 -624 -294 -26 -305 -279 -258 -133 -746 -302
Divestitures		 - - 3.33 3.44 5.72 -12 4.50 4.22 9.54 -18 17
Sale and/or Maturity of Investments		 74 229 42 2.33 171 245 85 138 106 94 119
Other Investing Activities, net		 16 -65 30 - -8.07 -17 0.00 -4.96 - - -1.17
Net Cash From Financing Activities		 258 -306 307 128 -465 322 -379 61 -596 226 -581
Net Cash From Continuing Financing Activities		 258 -306 307 128 -465 322 -379 61 -596 226 -581
Issuance of Debt		 1,098 619 1,019 1,348 397 330 638 1,329 270 718 677
Repayment of Debt		 -736 -887 -726 -990 -612 -509 -810 -1,067 -670 -296 -1,056
Payment of Dividends		 -206 -222 -227 -230 -233 -231 -190 -191 -192 -195 -195
Other Financing Activities, Net		 101 184 -9.00 0.46 -18 981 -17 -11 -4.45 -1.80 -7.57
Effect of Exchange Rate Changes		 -4.75 12 4.06 -2.15 -2.87 8.68 -7.49 -6.23 15 -13 8.78

Annual Balance Sheets for W.P. Carey

This table presents W.P. Carey's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 8,742 8,454 8,231 14,183 14,061 14,708 15,481 18,102 17,977 17,535
Cash and Due from Banks		 157 155 162 218 196 249 165 168 634 640
Trading Account Securities		 275 299 341 329 324 283 357 328 354 301
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 4,928 4,267 4,128 7,687 7,820 8,450 8,986 11,166 10,346 10,819
Goodwill		 682 636 644 921 935 911 902 1,037 978 968
Intangible Assets		 1,378 1,805 1,854 2,935 3,096 3,182 3,229 3,494 3,016 2,963
Other Assets		 1,259 992 996 2,018 1,632 1,607 1,840 1,910 2,649 1,843
Total Liabilities & Shareholders' Equity		 8,742 8,454 8,231 14,183 14,061 14,708 15,481 18,102 17,977 17,535
Total Liabilities		 5,166 5,028 4,819 7,353 7,113 7,829 7,897 9,093 9,270 9,101
Short-Term Debt		 485 677 217 92 201 82 411 276 404 55
Other Short-Term Payables		 445 374 373 576 669 - 204 852 808 795
Long-Term Debt		 3,995 3,764 4,048 6,287 5,853 6,614 6,381 7,601 7,740 7,984
Other Long-Term Liabilities		 240 213 181 398 390 1,133 902 364 318 267
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 3,561 3,425 3,411 6,830 6,948 6,878 7,583 9,009 8,707 8,434
Total Preferred & Common Equity		 3,427 3,302 3,192 6,824 6,942 6,877 7,582 8,994 8,700 8,430
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 3,427 3,302 3,192 6,824 6,942 6,877 7,582 8,994 8,700 8,430
Common Stock		 4,282 4,400 4,434 8,188 8,718 8,926 9,978 11,707 11,785 11,805
Treasury Stock		 56 50 47 36 37 42 50 57 62 79
Accumulated Other Comprehensive Income / (Loss)		 -172 -254 -236 -255 -256 -240 -222 -284 -255 -250
Other Equity Adjustments		 -739 -894 -1,052 -1,144 -1,557 -1,851 -2,224 -2,487 -2,891 -3,204
Noncontrolling Interest		 134 123 219 5.78 6.24 1.66 1.67 15 6.56 4.43

Quarterly Balance Sheets for W.P. Carey

This table presents W.P. Carey's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025
Total Assets		 17,775 18,832 19,076 18,630 17,612 17,769 17,632 17,307
Cash and Due from Banks		 186 148 204 136 777 1,086 818 188
Trading Account Securities		 298 341 340 352 356 356 299 305
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 10,882 11,032 11,520 11,175 10,450 10,484 10,755 10,950
Goodwill		 1,023 1,038 1,037 1,034 974 973 979 974
Intangible Assets		 3,419 3,420 3,555 3,467 2,972 2,933 2,970 3,011
Other Assets		 1,966 2,853 2,420 2,466 2,083 1,937 1,809 1,880
Total Liabilities & Shareholders' Equity		 17,775 18,832 19,076 18,630 17,612 17,769 17,632 17,307
Total Liabilities		 8,961 9,513 9,829 9,485 8,932 9,130 9,046 8,940
Short-Term Debt		 463 669 529 517 292 15 230 205
Other Short-Term Payables		 - 911 876 872 769 743 786 805
Long-Term Debt		 7,321 7,589 8,087 7,771 7,582 8,087 7,743 7,661
Other Long-Term Liabilities		 1,178 344 337 325 290 284 286 269
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 8,814 9,319 9,247 9,145 8,679 8,639 8,586 8,367
Total Preferred & Common Equity		 8,799 9,302 9,231 9,134 8,673 8,633 8,579 8,362
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 8,799 9,302 9,231 9,134 8,673 8,633 8,579 8,362
Common Stock		 11,511 11,949 11,959 11,971 11,773 11,782 11,796 11,793
Treasury Stock		 57 62 62 62 78 78 78 97
Accumulated Other Comprehensive Income / (Loss)		 -298 -285 -280 -282 -253 -253 -238 -251
Other Equity Adjustments		 -2,470 -2,425 -2,511 -2,617 -2,926 -2,975 -3,057 -3,276
Noncontrolling Interest		 15 18 16 11 6.12 6.62 6.49 4.56

Annual Metrics And Ratios for W.P. Carey

This table displays calculated financial ratios and metrics derived from W.P. Carey's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 3.30% 0.34% -27.51% 21.02% 22.08% 2.78% 8.24% 40.41% 8.26% -15.26%
EBITDA Growth		 19.55% -10.67% -9.90% 19.46% 26.72% 3.84% 10.43% 34.83% 3.47% -14.51%
EBIT Growth		 31.91% -10.56% -29.13% 32.14% -7.43% 24.36% 14.60% 79.21% -2.96% -13.72%
NOPAT Growth		 18.06% 6.99% -28.95% 28.30% -14.03% 45.72% 2.39% 90.80% -5.62% -14.11%
Net Income Growth		 -24.73% 48.36% 3.74% 48.85% -27.76% 52.00% -11.98% 45.93% 18.34% -34.96%
EPS Growth		 -32.64% 54.66% 0.00% 0.00% -49.00% 46.07% -13.85% 33.48% 9.70% -36.28%
Operating Cash Flow Growth		 27.42% 7.52% -4.78% -2.21% 59.49% -1.30% 15.59% 8.32% 6.96% 70.77%
Free Cash Flow Firm Growth		 106.48% 125.60% -18.17% -1,366.98% 108.66% -146.53% -104.00% -318.90% 138.78% 35.53%
Invested Capital Growth		 0.89% -2.35% -2.41% 72.04% -1.56% 4.40% 5.90% 17.47% -0.21% -2.24%
Revenue Q/Q Growth		 1.78% -3.73% -22.45% 28.35% -11.17% 11.41% 10.46% 21.87% -7.95% -4.26%
EBITDA Q/Q Growth		 7.21% -4.94% -18.43% 16.10% -8.75% 12.28% 13.43% 24.25% -13.73% -1.13%
EBIT Q/Q Growth		 13.22% -8.61% -36.60% 26.64% -27.54% 43.15% 26.88% 54.03% -22.14% -0.55%
NOPAT Q/Q Growth		 9.78% -4.24% -34.99% 22.67% -31.73% 53.10% 27.79% 61.71% -23.55% -2.09%
Net Income Q/Q Growth		 13.95% -2.72% 10.04% 39.80% -17.60% 1.05% -7.86% 22.49% -8.44% -17.43%
EPS Q/Q Growth		 20.15% -1.58% 0.00% 0.00% -29.08% 0.39% -8.94% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 12.30% -1.50% -6.24% 0.93% 13.28% 1.31% 6.45% -0.01% -3.62% 1.98%
Free Cash Flow Firm Q/Q Growth		 269.37% -23.40% -14.58% -8,318.49% 109.54% -221.83% 33.52% 13.97% 1,922.56% -34.87%
Invested Capital Q/Q Growth		 -2.17% -0.48% -1.13% 66.42% -0.46% 3.43% 2.23% 1.74% -3.34% -0.52%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 71.91% 64.02% 79.58% 78.55% 81.53% 82.38% 84.04% 80.70% 77.14% 77.82%
EBIT Margin		 38.10% 33.97% 33.21% 36.26% 27.49% 33.27% 35.22% 44.96% 40.30% 41.03%
Profit (Net Income) Margin		 19.74% 29.19% 41.77% 51.38% 30.40% 44.96% 36.56% 38.00% 41.54% 31.88%
Tax Burden Percent		 85.61% 98.82% 99.06% 112.49% 92.12% 104.66% 93.51% 95.57% 94.14% 93.56%
Interest Burden Percent		 60.51% 86.96% 126.97% 125.95% 120.02% 129.12% 111.00% 88.43% 109.48% 83.04%
Effective Tax Rate		 17.39% 1.18% 0.94% 3.82% 7.88% -4.66% 6.49% 4.43% 5.86% 6.44%
Return on Invested Capital (ROIC)		 3.68% 3.97% 2.89% 2.76% 1.89% 2.72% 2.64% 4.51% 3.94% 3.43%
ROIC Less NNEP Spread (ROIC-NNEP)		 1.11% 3.05% 4.28% 5.32% 2.84% 4.36% 3.25% 3.06% 4.48% 2.06%
Return on Net Nonoperating Assets (RNNOA)		 1.27% 3.88% 5.45% 5.53% 2.56% 4.02% 3.03% 2.70% 4.05% 1.94%
Return on Equity (ROE)		 4.96% 7.85% 8.34% 8.29% 4.45% 6.74% 5.67% 7.21% 8.00% 5.37%
Cash Return on Invested Capital (CROIC)		 2.79% 6.35% 5.32% -50.21% 3.47% -1.59% -3.09% -11.56% 4.15% 5.70%
Operating Return on Assets (OROA)		 4.11% 3.72% 2.72% 2.67% 1.96% 2.40% 2.62% 4.22% 3.81% 3.34%
Return on Assets (ROA)		 2.13% 3.20% 3.42% 3.79% 2.17% 3.24% 2.72% 3.56% 3.93% 2.59%
Return on Common Equity (ROCE)		 4.76% 7.54% 7.92% 8.10% 4.45% 6.74% 5.67% 7.21% 7.99% 5.37%
Return on Equity Simple (ROE_SIMPLE)		 5.40% 8.32% 8.93% 6.22% 4.42% 6.78% 5.41% 6.65% 8.14% 5.46%
Net Operating Profit after Tax (NOPAT)		 295 316 225 288 248 361 369 705 665 571
NOPAT Margin		 31.48% 33.56% 32.90% 34.88% 24.56% 34.82% 32.94% 44.76% 39.02% 39.55%
Net Nonoperating Expense Percent (NNEP)		 2.57% 0.92% -1.39% -2.56% -0.95% -1.65% -0.60% 1.45% -0.54% 1.37%
SG&A Expenses to Revenue		 7.87% 7.16% 8.74% 15.69% 17.02% 14.07% 14.67% 12.83% 15.86% 18.02%
Operating Expenses to Revenue		 61.90% 66.03% 66.79% 63.74% 72.51% 66.73% 64.78% 55.04% 59.70% 58.97%
Earnings before Interest and Taxes (EBIT)		 358 320 227 300 277 345 395 708 687 593
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 675 603 543 649 822 854 943 1,271 1,315 1,124
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 1.02 1.15 1.48 1.06 1.43 1.38 1.64 1.57 1.53 1.41
Price to Tangible Book Value (P/TBV)		 2.56 4.42 6.83 2.43 3.42 3.42 3.60 3.17 2.83 2.65
Price to Revenue (P/Rev)		 3.73 4.04 6.94 8.74 9.86 9.18 11.07 8.98 7.81 8.25
Price to Earnings (P/E)		 20.35 14.20 17.09 17.53 32.57 20.90 30.30 23.60 18.81 25.87
Dividend Yield		 11.40% 10.98% 9.05% 9.13% 7.17% 7.69% 6.31% 6.24% 6.67% 6.41%
Earnings Yield		 4.92% 7.04% 5.85% 5.70% 3.07% 4.78% 3.30% 4.24% 5.32% 3.87%
Enterprise Value to Invested Capital (EV/IC)		 0.99 1.04 1.18 1.01 1.22 1.18 1.33 1.29 1.24 1.17
Enterprise Value to Revenue (EV/Rev)		 8.50 8.72 13.28 16.20 15.68 15.41 16.98 13.88 12.22 13.37
Enterprise Value to EBITDA (EV/EBITDA)		 11.82 13.62 16.68 20.63 19.23 18.70 20.20 17.20 15.84 17.19
Enterprise Value to EBIT (EV/EBIT)		 22.31 25.68 39.98 44.68 57.01 46.31 48.21 30.87 30.33 32.60
Enterprise Value to NOPAT (EV/NOPAT)		 27.01 25.99 40.36 46.45 63.83 44.24 51.55 31.01 31.32 33.82
Enterprise Value to Operating Cash Flow (EV/OCF)		 15.69 15.02 17.40 26.28 19.47 19.92 20.56 21.78 19.42 10.54
Enterprise Value to Free Cash Flow (EV/FCFF)		 35.59 16.24 21.90 0.00 34.80 0.00 0.00 0.00 29.75 20.35
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 1.25 1.30 1.25 0.93 0.87 0.97 0.90 0.87 0.94 0.95
Long-Term Debt to Equity		 1.12 1.10 1.19 0.92 0.84 0.96 0.84 0.84 0.89 0.95
Financial Leverage		 1.15 1.27 1.27 1.04 0.90 0.92 0.93 0.88 0.90 0.94
Leverage Ratio		 2.33 2.46 2.44 2.19 2.05 2.08 2.09 2.02 2.04 2.07
Compound Leverage Factor		 1.41 2.14 3.10 2.76 2.46 2.69 2.32 1.79 2.23 1.72
Debt to Total Capital		 55.61% 56.45% 55.55% 48.29% 46.56% 49.33% 47.25% 46.65% 48.33% 48.80%
Short-Term Debt to Total Capital		 6.02% 8.60% 2.82% 0.69% 1.55% 0.61% 2.86% 1.64% 2.40% 0.34%
Long-Term Debt to Total Capital		 49.59% 47.85% 52.73% 47.60% 45.01% 48.72% 44.39% 45.01% 45.93% 48.46%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 1.85% 1.58% 2.87% 0.04% 0.05% 0.01% 0.01% 0.09% 0.04% 0.03%
Common Equity to Total Capital		 42.54% 41.97% 41.58% 51.66% 53.39% 50.66% 52.74% 53.26% 51.63% 51.17%
Debt to EBITDA		 6.64 7.37 7.85 9.83 7.36 7.84 7.20 6.20 6.19 7.15
Net Debt to EBITDA		 6.41 7.11 7.55 9.50 7.13 7.55 7.03 6.07 5.71 6.58
Long-Term Debt to EBITDA		 5.92 6.24 7.45 9.69 7.12 7.75 6.77 5.98 5.88 7.10
Debt to NOPAT		 15.17 14.05 19.00 22.14 24.44 18.56 18.38 11.17 12.24 14.07
Net Debt to NOPAT		 14.64 13.56 18.27 21.39 23.65 17.87 17.93 10.94 11.29 12.95
Long-Term Debt to NOPAT		 13.53 11.91 18.03 21.83 23.63 18.33 17.27 10.78 11.63 13.97
Noncontrolling Interest Sharing Ratio		 3.95% 3.91% 5.04% 2.21% 0.09% 0.06% 0.02% 0.10% 0.12% 0.06%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 224 506 414 -5,243 454 -211 -431 -1,806 701 950
Operating Cash Flow to CapEx		 1,813.63% 848.52% 664.39% 0.00% 490.71% 386.74% 815.45% 960.88% 882.58% 1,354.58%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 2.50 -29.39 1.95 -1.01 -2.19 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 3.14 2.85 3.48 3.82 4.71 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 2.67 4.67 2.77 2.83 4.13 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.11 0.11 0.08 0.07 0.07 0.07 0.07 0.09 0.09 0.08
Fixed Asset Turnover		 0.19 0.20 0.16 0.14 0.13 0.13 0.13 0.16 0.16 0.14
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 8,057 7,867 7,678 13,209 13,002 13,574 14,375 16,886 16,851 16,473
Invested Capital Turnover		 0.12 0.12 0.09 0.08 0.08 0.08 0.08 0.10 0.10 0.09
Increase / (Decrease) in Invested Capital		 71 -190 -189 5,531 -207 572 801 2,511 -35 -378
Enterprise Value (EV)		 7,977 8,212 9,061 13,382 15,807 15,966 19,049 21,861 20,841 19,326
Market Capitalization		 3,505 3,802 4,738 7,215 9,943 9,517 12,421 14,137 13,324 11,923
Book Value per Share		 $32.83 $31.07 $29.86 $42.37 $40.30 $39.21 $40.70 $43.23 $39.79 $38.52
Tangible Book Value per Share		 $13.10 $8.10 $6.49 $18.43 $16.90 $15.87 $18.52 $21.45 $21.52 $20.56
Total Capital		 8,057 7,867 7,678 13,209 13,002 13,574 14,375 16,886 16,851 16,473
Total Debt		 4,480 4,441 4,265 6,379 6,054 6,696 6,792 7,878 8,144 8,039
Total Long-Term Debt		 3,995 3,764 4,048 6,287 5,853 6,614 6,381 7,601 7,740 7,984
Net Debt		 4,323 4,285 4,103 6,161 5,858 6,447 6,626 7,710 7,510 7,399
Capital Expenditures (CapEx)		 28 64 78 -324 165 207 114 104 122 135
Net Nonoperating Expense (NNE)		 110 41 -61 -136 -59 -105 -41 107 -43 111
Net Nonoperating Obligations (NNO)		 4,480 4,441 4,265 6,379 6,054 6,696 6,792 7,878 8,144 8,039
Total Depreciation and Amortization (D&A)		 317 283 316 349 545 509 548 563 628 532
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.62 $2.50 $2.56 $0.00 $1.78 $2.61 $2.25 $3.00 $3.29 $2.09
Adjusted Weighted Average Basic Shares Outstanding		 105.68M 106.74M 107.82M 117.49M 171.00M 174.50M 182.49M 199.63M 215.37M 220.17M
Adjusted Diluted Earnings per Share		 $1.61 $2.49 $2.56 $0.00 $1.78 $2.60 $2.24 $2.99 $3.28 $2.09
Adjusted Weighted Average Diluted Shares Outstanding		 106.51M 107.07M 108.04M 117.71M 171.30M 174.84M 183.13M 200.43M 215.76M 220.52M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 104.53M 106.32M 106.93M 0.00 172.28M 175.40M 190.61M 210.62M 218.67M 218.85M
Normalized Net Operating Profit after Tax (NOPAT)		 320 386 237 333 278 267 388 761 751 616
Normalized NOPAT Margin		 34.11% 41.04% 34.74% 40.26% 27.54% 25.72% 34.58% 48.31% 44.06% 42.66%
Pre Tax Income Margin		 23.06% 29.54% 42.17% 45.67% 33.00% 42.96% 39.10% 39.76% 44.12% 34.07%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 1.37 1.68 1.19 1.64 2.01 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 1.35 1.62 1.06 1.72 1.88 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.89 3.50 0.48 0.65 1.43 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.88 3.43 0.35 0.73 1.30 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 225.81% 157.81% 158.49% 108.08% 230.34% 157.16% 186.39% 139.63% 129.87% 166.60%
Augmented Payout Ratio		 225.81% 157.81% 158.49% 108.36% 230.34% 157.16% 186.39% 139.63% 129.87% 166.60%

Quarterly Metrics And Ratios for W.P. Carey

This table displays calculated financial ratios and metrics derived from W.P. Carey's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 16.14% 94.47% 9.04% 63.99% 18.46% -25.31% -9.14% -27.84% -8.00% -14.81% 11.94%
EBITDA Growth		 3.64% 97.88% 8.78% 73.01% 24.89% -41.73% -11.72% -36.26% -1.74% -4.40% 12.47%
EBIT Growth		 -4.44% 251.75% -12.59% 147.35% 45.56% -56.31% 8.20% -57.59% 13.75% -2.15% 16.30%
NOPAT Growth		 -6.12% 289.62% -13.11% 142.00% 50.72% -57.09% 7.87% -53.35% 9.68% -12.73% 12.26%
Net Income Growth		 -24.76% 110.32% 87.55% 13.20% 19.88% -31.15% -45.97% -1.19% -10.68% -67.39% -20.91%
EPS Growth		 0.00% 0.00% 69.51% 1.52% 0.00% 0.00% -48.20% -2.99% 0.00% 0.00% 0.00%
Operating Cash Flow Growth		 12.79% -0.02% 19.86% 17.35% 10.45% -13.38% 266.27% -10.73% -0.77% 13.65% -73.62%
Free Cash Flow Firm Growth		 -198.88% -203.55% -221.86% -1,483.69% 73.01% 108.96% 138.49% 137.46% 265.29% 167.96% -56.09%
Invested Capital Growth		 18.03% 17.47% 21.45% 23.99% 5.04% -0.21% -5.83% -6.28% -5.01% -2.24% -1.93%
Revenue Q/Q Growth		 37.16% 53.58% -36.64% 22.87% -0.92% -3.17% -22.93% -2.42% 26.32% -10.33% 22.52%
EBITDA Q/Q Growth		 27.92% 78.96% -41.37% 28.91% -7.66% -16.50% -11.18% -6.93% 42.35% -18.76% 32.77%
EBIT Q/Q Growth		 47.61% 162.79% -64.86% 81.48% -13.13% -21.12% -12.99% -28.87% 133.00% -32.15% 58.48%
NOPAT Q/Q Growth		 43.47% 198.99% -68.30% 77.97% -10.65% -14.88% -20.31% -23.03% 110.07% -32.26% 57.09%
Net Income Q/Q Growth		 -18.36% 100.93% 40.54% -50.90% -13.54% 15.40% 10.29% -10.20% -21.84% -57.87% 167.48%
EPS Q/Q Growth		 0.00% 0.00% 0.00% -51.80% -13.43% 10.34% 12.50% -9.72% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 21.16% 17.75% -6.08% -12.42% 14.03% -7.65% 297.15% -78.65% 26.75% 5.77% -7.81%
Free Cash Flow Firm Q/Q Growth		 -1,076.19% 11.10% -39.31% -8.72% 79.96% 129.52% 498.44% 5.81% -11.56% -52.15% 3.76%
Invested Capital Q/Q Growth		 15.20% 1.74% 4.09% 1.62% -2.41% -3.34% -1.77% 1.15% -1.09% -0.52% -1.46%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 73.97% 86.19% 79.75% 83.67% 77.98% 67.24% 77.49% 73.91% 83.29% 75.46% 81.77%
EBIT Margin		 34.86% 59.65% 33.08% 48.86% 42.83% 34.89% 39.39% 28.71% 52.96% 40.08% 51.84%
Profit (Net Income) Margin		 27.52% 36.00% 79.86% 31.92% 27.85% 33.19% 47.49% 43.70% 27.04% 12.70% 27.74%
Tax Burden Percent		 92.66% 97.16% 95.12% 93.45% 96.09% 91.32% 94.83% 95.83% 92.51% 85.82% 91.54%
Interest Burden Percent		 85.20% 62.13% 253.84% 69.90% 67.67% 104.16% 127.14% 158.83% 55.19% 36.94% 58.45%
Effective Tax Rate		 7.34% 2.84% 4.88% 6.55% 3.91% 8.68% 5.17% 4.17% 7.49% 14.18% 8.46%
Return on Invested Capital (ROIC)		 2.72% 6.34% 3.15% 5.03% 4.47% 3.65% 3.66% 2.63% 4.35% 3.21% 4.32%
ROIC Less NNEP Spread (ROIC-NNEP)		 2.47% 4.20% 5.53% 4.23% 3.73% 3.49% 4.08% 3.19% 3.24% 2.10% 3.19%
Return on Net Nonoperating Assets (RNNOA)		 2.21% 3.72% 4.88% 3.85% 3.34% 3.16% 3.66% 2.98% 2.97% 1.98% 2.94%
Return on Equity (ROE)		 4.93% 10.05% 8.04% 8.89% 7.82% 6.81% 7.31% 5.61% 7.32% 5.19% 7.27%
Cash Return on Invested Capital (CROIC)		 -13.70% -11.56% -15.09% -16.40% 0.20% 4.15% 9.95% 9.73% 8.58% 5.70% 5.58%
Operating Return on Assets (OROA)		 2.74% 5.60% 3.09% 5.04% 4.36% 3.30% 3.61% 2.41% 4.41% 3.26% 4.43%
Return on Assets (ROA)		 2.16% 3.38% 7.45% 3.30% 2.83% 3.14% 4.36% 3.67% 2.25% 1.03% 2.37%
Return on Common Equity (ROCE)		 4.93% 10.04% 8.03% 8.88% 7.80% 6.80% 7.31% 5.60% 7.31% 5.19% 7.26%
Return on Equity Simple (ROE_SIMPLE)		 5.55% 0.00% 7.91% 8.16% 8.47% 0.00% 6.61% 6.62% 6.50% 0.00% 5.11%
Net Operating Profit after Tax (NOPAT)		 122 366 116 206 184 157 125 96 202 137 215
NOPAT Margin		 32.30% 62.88% 31.46% 45.57% 41.09% 36.13% 37.35% 29.46% 48.99% 37.01% 47.45%
Net Nonoperating Expense Percent (NNEP)		 0.25% 2.13% -2.37% 0.80% 0.74% 0.16% -0.42% -0.56% 1.11% 1.11% 1.14%
SG&A Expenses to Revenue		 6.89% 14.24% 18.53% 9.11% 10.84% 25.82% 19.96% 20.06% 10.23% 23.16% 8.24%
Operating Expenses to Revenue		 65.14% 40.35% 66.92% 51.14% 57.17% 65.11% 60.61% 71.29% 47.04% 59.93% 48.16%
Earnings before Interest and Taxes (EBIT)		 132 347 122 221 192 152 132 94 219 148 235
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 280 502 294 379 350 292 260 242 344 279 371
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.31 1.57 1.55 1.40 1.16 1.53 1.36 1.35 1.56 1.41 1.65
Price to Tangible Book Value (P/TBV)		 2.65 3.17 2.97 2.79 2.28 2.83 2.49 2.47 2.90 2.65 3.16
Price to Revenue (P/Rev)		 8.94 8.98 8.96 7.26 5.71 7.81 7.05 7.56 8.89 8.25 9.25
Price to Earnings (P/E)		 23.61 23.60 19.53 17.18 13.66 18.81 20.56 20.45 24.04 25.87 32.31
Dividend Yield		 7.07% 6.24% 6.23% 7.04% 8.65% 6.67% 7.17% 6.86% 5.66% 6.41% 5.57%
Earnings Yield		 4.24% 4.24% 5.12% 5.82% 7.32% 5.32% 4.86% 4.89% 4.16% 3.87% 3.09%
Enterprise Value to Invested Capital (EV/IC)		 1.15 1.29 1.28 1.20 1.07 1.24 1.14 1.12 1.24 1.17 1.32
Enterprise Value to Revenue (EV/Rev)		 14.83 13.88 14.02 11.99 10.11 12.22 11.30 12.11 13.63 13.37 14.39
Enterprise Value to EBITDA (EV/EBITDA)		 18.73 17.20 17.38 14.69 12.29 15.84 14.75 16.36 18.09 17.19 18.44
Enterprise Value to EBIT (EV/EBIT)		 41.68 30.87 32.59 25.99 21.22 30.33 27.09 32.84 34.51 32.60 34.35
Enterprise Value to NOPAT (EV/NOPAT)		 43.95 31.01 32.78 26.42 21.52 31.32 28.08 33.23 35.25 33.82 36.10
Enterprise Value to Operating Cash Flow (EV/OCF)		 19.09 21.78 21.43 19.66 16.82 19.42 10.34 10.40 11.45 10.54 20.07
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 540.77 29.75 11.13 11.11 14.11 20.35 23.50
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.88 0.87 0.89 0.93 0.91 0.94 0.91 0.94 0.93 0.95 0.94
Long-Term Debt to Equity		 0.83 0.84 0.81 0.87 0.85 0.89 0.87 0.94 0.90 0.95 0.92
Financial Leverage		 0.89 0.88 0.88 0.91 0.89 0.90 0.90 0.93 0.92 0.94 0.92
Leverage Ratio		 2.03 2.02 2.02 2.04 2.03 2.04 2.02 2.06 2.05 2.07 2.05
Compound Leverage Factor		 1.73 1.26 5.13 1.43 1.37 2.12 2.57 3.27 1.13 0.77 1.20
Debt to Total Capital		 46.90% 46.65% 46.98% 48.23% 47.54% 48.33% 47.57% 48.40% 48.15% 48.80% 48.46%
Short-Term Debt to Total Capital		 2.79% 1.64% 3.81% 2.96% 2.96% 2.40% 1.76% 0.09% 1.39% 0.34% 1.26%
Long-Term Debt to Total Capital		 44.11% 45.01% 43.17% 45.27% 44.58% 45.93% 45.80% 48.31% 46.76% 48.46% 47.19%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.09% 0.09% 0.10% 0.09% 0.06% 0.04% 0.04% 0.04% 0.04% 0.03% 0.03%
Common Equity to Total Capital		 53.02% 53.26% 52.92% 51.67% 52.40% 51.63% 52.40% 51.56% 51.81% 51.17% 51.51%
Debt to EBITDA		 7.61 6.20 6.38 5.92 5.44 6.19 6.15 7.09 7.01 7.15 6.75
Net Debt to EBITDA		 7.43 6.07 6.26 5.78 5.35 5.71 5.54 6.14 6.29 6.58 6.59
Long-Term Debt to EBITDA		 7.16 5.98 5.86 5.56 5.10 5.88 5.92 7.07 6.81 7.10 6.57
Debt to NOPAT		 17.85 11.17 12.03 10.65 9.52 12.24 11.71 14.39 13.66 14.07 13.21
Net Debt to NOPAT		 17.43 10.94 11.81 10.40 9.37 11.29 10.55 12.46 12.26 12.95 12.90
Long-Term Debt to NOPAT		 16.79 10.78 11.05 10.00 8.93 11.63 11.27 14.36 13.27 13.97 12.87
Noncontrolling Interest Sharing Ratio		 0.10% 0.10% 0.11% 0.11% 0.14% 0.12% 0.13% 0.13% 0.10% 0.06% 0.06%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -2,413 -2,145 -2,989 -3,249 -651 192 1,150 1,217 1,076 515 534
Operating Cash Flow to CapEx		 947.54% 1,452.84% 802.72% 919.99% 1,007.90% 828.39% 5,295.02% 799.45% 1,176.54% 460.83% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 -44.48 0.00 0.00 0.00 16.76 18.64 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 4.21 0.00 0.00 0.00 15.08 3.38 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 3.68 0.00 0.00 0.00 14.80 2.96 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.08 0.09 0.09 0.10 0.10 0.09 0.09 0.08 0.08 0.08 0.09
Fixed Asset Turnover		 0.13 0.16 0.16 0.17 0.17 0.16 0.16 0.14 0.14 0.14 0.14
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 16,597 16,886 17,578 17,863 17,433 16,851 16,552 16,742 16,559 16,473 16,233
Invested Capital Turnover		 0.08 0.10 0.10 0.11 0.11 0.10 0.10 0.09 0.09 0.09 0.09
Increase / (Decrease) in Invested Capital		 2,536 2,511 3,105 3,456 836 -35 -1,025 -1,121 -874 -378 -319
Enterprise Value (EV)		 19,161 21,861 22,509 21,371 18,731 20,841 18,889 18,710 20,576 19,326 21,495
Market Capitalization		 11,550 14,137 14,381 12,943 10,569 13,324 11,786 11,687 13,414 11,923 13,812
Book Value per Share		 $45.61 $43.23 $44.16 $43.15 $42.70 $39.79 $39.42 $39.45 $39.20 $38.52 $38.21
Tangible Book Value per Share		 $22.59 $21.45 $23.00 $21.69 $21.66 $21.52 $21.48 $21.60 $21.16 $20.56 $20.00
Total Capital		 16,597 16,886 17,578 17,863 17,433 16,851 16,552 16,742 16,559 16,473 16,233
Total Debt		 7,783 7,878 8,258 8,616 8,288 8,144 7,873 8,102 7,973 8,039 7,866
Total Long-Term Debt		 7,321 7,601 7,589 8,087 7,771 7,740 7,582 8,087 7,743 7,984 7,661
Net Debt		 7,597 7,710 8,110 8,412 8,151 7,510 7,096 7,016 7,155 7,399 7,678
Capital Expenditures (CapEx)		 27 21 35 27 28 31 20 28 24 64 0.00
Net Nonoperating Expense (NNE)		 18 156 -178 62 59 13 -34 -47 91 90 89
Net Nonoperating Obligations (NNO)		 7,783 7,878 8,258 8,616 8,288 8,144 7,873 8,102 7,973 8,039 7,866
Total Depreciation and Amortization (D&A)		 148 154 172 158 158 141 128 148 125 131 136
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.52 $0.00 $1.39 $0.67 $0.58 $0.65 $0.72 $0.65 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic Shares Outstanding		 203.09M 199.63M 211.95M 215.08M 215.10M 215.37M 220.03M 220.20M 220.22M 220.17M 220.40M
Adjusted Diluted Earnings per Share		 $0.51 $0.00 $1.39 $0.67 $0.58 $0.64 $0.72 $0.65 $0.00 $0.00 $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 204.10M 200.43M 212.35M 215.18M 215.25M 215.76M 220.13M 220.21M 220.40M 220.52M 220.72M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 208.03M 210.62M 213.90M 213.93M 218.67M 218.67M 218.82M 218.85M 218.85M 218.85M 218.98M
Normalized Net Operating Profit after Tax (NOPAT)		 166 350 116 208 203 157 129 112 203 137 222
Normalized NOPAT Margin		 43.79% 60.11% 31.47% 45.86% 45.23% 36.13% 38.61% 34.14% 49.06% 37.01% 48.95%
Pre Tax Income Margin		 29.70% 37.06% 83.96% 34.15% 28.98% 36.34% 50.08% 45.61% 29.23% 14.80% 30.30%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 1.81 0.00 0.00 0.00 1.92 1.44 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 1.73 0.00 0.00 0.00 1.82 1.47 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 1.29 0.00 0.00 0.00 1.64 1.01 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 1.20 0.00 0.00 0.00 1.54 1.05 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 165.90% 139.63% 116.77% 117.47% 117.83% 129.87% 154.19% 147.81% 144.03% 166.60% 180.67%
Augmented Payout Ratio		 165.90% 139.63% 116.77% 117.47% 117.83% 129.87% 154.19% 147.81% 144.03% 166.60% 180.67%

Key Financial Trends

W.P. Carey Inc. (NYSE: WPC) Financial Analysis

Reviewing W.P. Carey's financial performance over the past four years reveals the following key trends and notable points based on quarterly income statements, cash flow statements, and balance sheets:

  • The company reported strong consolidated net income of $125.8 million in Q1 2025, showing solid profitability in the latest quarter.
  • Total revenue in Q1 2025 was $453.6 million, an increase compared to $370.3 million in Q4 2024, indicating revenue growth momentum.
  • Net realized and unrealized capital gains on investments turned positive in recent quarters, with $43.8 million in Q1 2025, improving from negative amounts in Q4 2024.
  • Net cash from continuing operating activities remained strong, with $273.2 million generated in Q1 2025, consistent with healthy operational cash flow generation.
  • W.P. Carey maintains a substantial asset base, with total assets around $17.3 billion as of Q1 2025, including significant premises and equipment.
  • Depreciation expense remains a large recurring charge (about $129.6 million in Q1 2025), reflecting the company's substantial asset holdings and affecting reported earnings but not cash flow.
  • The balance sheet shows long-term debt of approximately $7.7 billion as of Q1 2025, indicating leverage consistent with a real estate investment trust structure.
  • Cash dividends to common shareholders in Q1 2025 were $0.89 per share, representing steady dividend payouts attractive to income-focused investors.
  • Net cash used in investing activities was $174 million in Q1 2025, reflecting significant ongoing investment in properties and securities.
  • Non-operating income/(expense) was a significant net loss in Q1 2025, totaling negative $97.7 million, which impacted pre-tax income.
  • Total non-interest expense increased to $218.5 million in Q1 2025 compared to previous quarters, including impairment and restructuring charges that affect net income negatively.

Summary: W.P. Carey displays a healthy core business with increasing revenues and strong operational cash flow generation. The recent turnaround in capital gains on investments supports earnings growth, although non-operating losses and elevated expenses present challenges. The company’s substantial asset base and steady dividend payments enhance its appeal as a REIT. Investors should watch how W.P. Carey manages non-operating losses and growing expenses while pursuing investment opportunities to sustain its financial strength going forward.

09/14/25 05:44 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About W.P. Carey's Financials

When does W.P. Carey's financial year end?

According to the most recent income statement we have on file, W.P. Carey's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has W.P. Carey's net income changed over the last 9 years?

W.P. Carey's net income appears to be on an upward trend, with a most recent value of $460.63 million in 2024, rising from $185.23 million in 2015. The previous period was $708.26 million in 2023. Check out W.P. Carey's forecast to explore projected trends and price targets.

How has W.P. Carey's revenue changed over the last 9 years?

Over the last 9 years, W.P. Carey's total revenue changed from $938.38 million in 2015 to $1.45 billion in 2024, a change of 54.0%.

How much debt does W.P. Carey have?

W.P. Carey's total liabilities were at $9.10 billion at the end of 2024, a 1.8% decrease from 2023, and a 76.2% increase since 2015.

How much cash does W.P. Carey have?

In the past 9 years, W.P. Carey's cash and equivalents has ranged from $155.48 million in 2016 to $640.37 million in 2024, and is currently $640.37 million as of their latest financial filing in 2024.

How has W.P. Carey's book value per share changed over the last 9 years?

Over the last 9 years, W.P. Carey's book value per share changed from 32.83 in 2015 to 38.52 in 2024, a change of 17.3%.


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This page (NYSE:WPC) was last updated on 9/14/2025 by MarketBeat.com Staff
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