What is W.P. Carey Inc.'s earnings per share (EPS)?

W.P. Carey Inc. (WPC) reported diluted earnings per share of $2.11 for fiscal year 2025. This represents a 1.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

W.P. Carey Inc. Financials

WPC

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows W.P. Carey Inc. (WPC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI WPC FY2025 2026-04-29

Recurring operating cash flow funds a capital-heavy balance sheet, so this business reads better through cash than accounting profit alone.

In FY2024, operating cash flow was $1.83B against net income of $461M, showing that reported earnings captured only part of the economic output of the asset base in that year. FY2025 still showed the same gap, and depreciation above $500M suggests non-cash asset charges, not weak underlying cash generation alone, are a major reason earnings understate cash.

Debt to equity rose from 1.0x to 1.1x between FY2024 and FY2025, crossing above parity as equity kept shrinking. With return on assets still near 2.6%, the company relied more on financing structure than on better asset productivity to support shareholder returns.

Despite healthy cash generation, cash on hand fell from $640M to $155M in FY2025, which says surplus cash was not being stockpiled. Paired with $790M of dividends and almost $960M of investing outflow, the operating model appears built to recycle cash back into assets and distributions rather than preserve a large liquidity cushion.

Financial Health Signals

Financial Health Score 35/100

Scored as: REITs peer group

Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of W.P. Carey Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

FFO Margin

FFO Growth

AFFO Margin

Dividend Cov.

Piotroski F-Score Partial

4/7

W.P. Carey Inc. passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Cash-Backed

2.75x

For every $1 of reported earnings, W.P. Carey Inc. generates $2.75 in operating cash flow ($1.3B OCF vs $466.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.7B

YoY+8.4%

5Y CAGR+7.3%

10Y CAGR+6.2%

W.P. Carey Inc. generated $1.7B in revenue in fiscal year 2025. This represents an increase of 8.4% from the prior year.

EBITDA

N/A

Net Income

$466.4M

YoY+1.2%

5Y CAGR+0.5%

10Y CAGR+10.5%

W.P. Carey Inc. reported $466.4M in net income in fiscal year 2025. This represents an increase of 1.2% from the prior year.

EPS (Diluted)

$2.11

YoY+1.0%

5Y CAGR-4.1%

10Y CAGR+2.7%

W.P. Carey Inc. earned $2.11 per diluted share (EPS) in fiscal year 2025. This represents an increase of 1.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$155.3M

YoY-75.7%

5Y CAGR-9.0%

10Y CAGR-0.1%

W.P. Carey Inc. held $155.3M in cash against $8.7B in long-term debt as of fiscal year 2025.

Dividends Per Share

$3.62

YoY+3.7%

5Y CAGR-2.8%

10Y CAGR-0.6%

W.P. Carey Inc. paid $3.62 per share in dividends in fiscal year 2025. This represents an increase of 3.7% from the prior year.

Shares Outstanding

219M

YoY+0.1%

5Y CAGR+4.6%

10Y CAGR+7.7%

W.P. Carey Inc. had 219M shares outstanding in fiscal year 2025. This represents an increase of 0.1% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

27.2%

YoY-1.9pp

5Y CAGR-10.5pp

10Y CAGR+8.8pp

W.P. Carey Inc.'s net profit margin was 27.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.9 percentage points from the prior year.

Return on Equity

5.7%

YoY+0.3pp

5Y CAGR-0.9pp

10Y CAGR+0.7pp

W.P. Carey Inc.'s ROE was 5.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.3 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

WPC Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.7B+8.4%	$1.6B-9.1%	$1.7B+17.7%	$1.5B+11.1%	$1.3B+10.1%	$1.2B
Cost of Revenue	N/A	N/A	$368K-85.4%	$2.5M-37.6%	$4.0M-54.4%	$8.9M
Gross Profit	N/A	N/A	$1.7B+17.9%	$1.5B+11.2%	$1.3B+10.6%	$1.2B
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$100.7M+1.7%	$99.0M+2.7%	$96.4M+5.4%	$91.5M+11.7%	$81.9M+7.8%	$76.0M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$267.5M+4.2%	$256.6M-12.1%	$291.9M+33.2%	$219.2M+11.3%	$196.8M-6.3%	$210.1M
Income Tax	$31.9M+0.6%	$31.7M-28.0%	$44.1M+58.9%	$27.7M-2.7%	$28.5M+237.2%	-$20.8M
Net Income	$466.4M+1.2%	$460.8M-34.9%	$708.3M+18.2%	$599.1M+46.1%	$410.0M-10.0%	$455.4M
EPS (Diluted)	$2.11+1.0%	$2.09-36.3%	$3.28+9.7%	$2.99+33.5%	$2.24-13.8%	$2.60

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$454.5M+2.2%	$444.5M+3.1%	$431.3M+0.1%	$430.8M+5.1%	$409.9M+0.9%	$406.2M+2.2%	$397.4M+2.0%	$389.7M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$27.3M+5.6%	$25.9M+9.5%	$23.7M-2.0%	$24.1M-10.4%	$27.0M+11.2%	$24.3M+6.9%	$22.7M-6.2%	$24.2M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$78.5M+51.8%	$51.7M-31.3%	$75.2M+4.8%	$71.8M+4.3%	$68.8M+37.3%	$50.1M-30.9%	$72.5M+11.1%	$65.3M
Income Tax	$14.6M+1217.1%	-$1.3M-115.4%	$8.5M-35.1%	$13.1M+12.5%	$11.6M+49.7%	$7.8M-14.1%	$9.0M+45.4%	$6.2M
Net Income	$176.3M+18.9%	$148.3M+5.2%	$141.0M+175.3%	$51.2M-59.3%	$125.8M+167.6%	$47.0M-57.9%	$111.7M-21.8%	$142.9M
EPS (Diluted)	$0.80	N/A	$0.64+178.3%	$0.23-59.6%	$0.57	N/A	$0.51-21.5%	$0.65

WPC Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$18.0B+2.6%	$17.5B-2.5%	$18.0B-0.7%	$18.1B+16.9%	$15.5B+5.3%	$14.7B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$155.3M-75.7%	$640.4M+1.0%	$633.9M+277.3%	$168.0M+1.6%	$165.4M-33.5%	$248.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$987.1M+2.0%	$967.8M-1.1%	$978.3M-5.7%	$1.0B+15.1%	$901.5M-1.0%	$910.8M
Total Liabilities	$9.9B+8.3%	$9.1B-1.8%	$9.3B+1.9%	$9.1B+15.1%	$7.9B+0.9%	$7.8B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$8.7B+8.5%	$8.0B-1.3%	$8.1B+3.4%	$7.9B+16.0%	$6.8B+1.4%	$6.7B
Total Equity	$8.1B-3.7%	$8.4B-3.1%	$8.7B-3.3%	$9.0B+18.6%	$7.6B+10.3%	$6.9B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$18.2B+1.2%	$18.0B0.0%	$18.0B-0.1%	$18.0B+4.0%	$17.3B-1.3%	$17.5B-0.5%	$17.6B-0.8%	$17.8B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$239.3M+54.0%	$155.3M-37.6%	$249.0M+1.7%	$244.8M+30.4%	$187.8M-70.7%	$640.4M-21.7%	$818.2M-24.7%	$1.1B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$984.0M-0.3%	$987.1M0.0%	$987.0M+0.1%	$986.5M+1.2%	$974.5M+0.7%	$967.8M-1.2%	$979.3M+0.6%	$973.2M
Total Liabilities	$9.8B-0.2%	$9.9B+0.4%	$9.8B+0.4%	$9.8B+9.3%	$8.9B-1.8%	$9.1B+0.6%	$9.0B-0.9%	$9.1B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$8.8B+0.4%	$8.7B+0.4%	$8.7B+0.6%	$8.6B+9.8%	$7.9B-2.1%	$8.0B+0.8%	$8.0B-1.6%	$8.1B
Total Equity	$8.3B+2.8%	$8.1B-0.5%	$8.2B-0.7%	$8.2B-1.8%	$8.4B-0.8%	$8.4B-1.7%	$8.6B-0.6%	$8.6B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

WPC Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$1.3B-30.0%	$1.8B+70.8%	$1.1B+7.0%	$1.0B+8.3%	$926.5M+15.6%	$801.5M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$960.1M+15.3%	-$1.1B-25.2%	-$905.9M+13.9%	-$1.1B+32.8%	-$1.6B-190.2%	-$539.9M
Financing Cash Flow	-$761.7M-10.6%	-$688.5M-335.3%	$292.6M+405.4%	$57.9M-89.6%	$557.0M+364.4%	-$210.7M
Dividends Paid	$790.0M+3.3%	$765.1M-16.5%	$916.5M+9.7%	$835.3M+9.3%	$764.3M+5.1%	$727.0M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	$0

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$283.2M-7.0%	$304.6M+1.4%	$300.5M-25.6%	$404.0M+47.9%	$273.2M-7.8%	$296.3M+5.8%	$280.2M+26.7%	$221.0M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$462.8M-127.8%	-$203.2M+5.6%	-$215.1M+41.5%	-$368.0M-111.6%	-$173.9M+75.1%	-$697.9M-1328.4%	-$48.9M+67.5%	-$150.2M
Financing Cash Flow	$211.0M+217.6%	-$179.4M-10.7%	-$162.1M-200.7%	$160.9M+127.7%	-$581.2M-357.1%	$226.0M+137.9%	-$596.5M-1077.5%	$61.0M
Dividends Paid	$205.3M+2.4%	$200.6M-0.3%	$201.1M+1.2%	$198.8M+1.9%	$195.1M+1.2%	$192.7M-0.2%	$193.2M+0.6%	$192.0M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

WPC Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	100.0%+0.2pp	99.8%+0.1pp	99.7%+0.4pp	99.3%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	27.2%-1.9pp	29.1%-11.6pp	40.7%+0.2pp	40.5%+9.7pp	30.8%-6.9pp	37.6%
Return on Equity	5.7%+0.3pp	5.5%-2.7pp	8.1%+1.5pp	6.7%+1.3pp	5.4%-1.2pp	6.6%
Return on Assets	2.6%-0.0pp	2.6%-1.3pp	3.9%+0.6pp	3.3%+0.7pp	2.6%-0.5pp	3.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.07+0.1	0.95+0.0	0.94+0.1	0.88-0.0	0.90-0.1	0.97
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	38.8%+5.4pp	33.4%+0.7pp	32.7%+20.8pp	11.9%-18.8pp	30.7%+19.1pp	11.6%-16.5pp	28.1%-8.6pp	36.7%
Return on Equity	2.1%+0.3pp	1.8%+0.1pp	1.7%+1.1pp	0.6%-0.9pp	1.5%+0.9pp	0.6%-0.7pp	1.3%-0.4pp	1.7%
Return on Assets	1.0%+0.1pp	0.8%+0.0pp	0.8%+0.5pp	0.3%-0.5pp	0.7%+0.5pp	0.3%-0.4pp	0.6%-0.2pp	0.8%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.05-0.0	1.070.0	1.06+0.0	1.05+0.1	0.94-0.0	0.95+0.0	0.930.0	0.94
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is W.P. Carey Inc.'s annual revenue?

W.P. Carey Inc. (WPC) reported $1.7B in total revenue for fiscal year 2025. This represents a 8.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is W.P. Carey Inc.'s revenue growing?

W.P. Carey Inc. (WPC) revenue grew by 8.4% year-over-year, from $1.6B to $1.7B in fiscal year 2025.

Is W.P. Carey Inc. profitable?

Yes, W.P. Carey Inc. (WPC) reported a net income of $466.4M in fiscal year 2025, with a net profit margin of 27.2%.

How much debt does W.P. Carey Inc. have?

As of fiscal year 2025, W.P. Carey Inc. (WPC) had $155.3M in cash and equivalents against $8.7B in long-term debt.

What is W.P. Carey Inc.'s net profit margin?

W.P. Carey Inc. (WPC) had a net profit margin of 27.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does W.P. Carey Inc. pay dividends?

Yes, W.P. Carey Inc. (WPC) paid $3.62 per share in dividends during fiscal year 2025.

What is W.P. Carey Inc.'s return on equity (ROE)?

W.P. Carey Inc. (WPC) has a return on equity of 5.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is W.P. Carey Inc.'s operating cash flow?

W.P. Carey Inc. (WPC) generated $1.3B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are W.P. Carey Inc.'s total assets?

W.P. Carey Inc. (WPC) had $18.0B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does W.P. Carey Inc. have outstanding?

W.P. Carey Inc. (WPC) had 219M shares outstanding as of fiscal year 2025.

What is W.P. Carey Inc.'s debt-to-equity ratio?

W.P. Carey Inc. (WPC) had a debt-to-equity ratio of 1.07 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is W.P. Carey Inc.'s return on assets (ROA)?

W.P. Carey Inc. (WPC) had a return on assets of 2.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is W.P. Carey Inc.'s Piotroski F-Score?

W.P. Carey Inc. (WPC) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are W.P. Carey Inc.'s earnings high quality?

W.P. Carey Inc. (WPC) has an earnings quality ratio of 2.75x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is W.P. Carey Inc.?

W.P. Carey Inc. (WPC) scores 35 out of 100 on our Financial Health Score, indicating weak standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.