O drawdown: 17.9% below the all-time high
Realty Income Corporation (O) is 17.9% below its all-time high, set Feb 21, 2020 (as of market close, Jul 24, 2026). The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown. "All-time" means since our price data begins (1994).
- Below all-time high
- −17.9%
- 82.1% of ATH
- All-time high
- $79.88
- Feb 21, 2020
- Time below the high
- 6.4 yrs
- since Feb 21, 2020
- Worst-ever drawdown
- −50.6%
- Mar 6, 2009
- Longest underwater
- 6.4 yrs
- between all-time highs
- Today's level first reached
- Jun 28, 2016
- 10.1 yrs ago
- Last time this deep
- Oct 23, 2018
- in a previous episode
% of all-time high since 1994#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater.
% of all-time high on the price basis — the all-time high considers the full history of O, including years before the visible window. Dividends are excluded on this basis (the convention headlines use).
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Nov 13, 2007 | Mar 6, 2009 | −50.6% | 16 mo | Mar 18, 2010 | 2.3 yrs |
| Feb 21, 2020 | Mar 18, 2020 | −48.4% | 26 days | not yet | 6.4 yrs+ |
| Aug 1, 2016 | Feb 8, 2018 | −34.1% | 1.5 yrs | Mar 21, 2019 | 2.6 yrs |
| May 17, 2013 | Dec 5, 2013 | −33.4% | 7 mo | Jan 28, 2015 | 1.7 yrs |
| Aug 29, 1997 | Mar 31, 2000 | −30.3% | 2.6 yrs | Apr 19, 2001 | 3.6 yrs |
| Apr 28, 2011 | Aug 8, 2011 | −22.3% | 3 mo | Jan 25, 2012 | 9 mo |
| Feb 7, 2007 | Jul 31, 2007 | −22.3% | 6 mo | Nov 13, 2007 | 9 mo |
| Jan 29, 2015 | Sep 4, 2015 | −21.3% | 7 mo | Jan 26, 2016 | 12 mo |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 1994: how far O stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: O is on this chart precisely because it survived — the many stocks that fell this far and never recovered (or were delisted) aren't on anyone's chart, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ
- How far is O from its all-time high?
- O is currently 17.9% below its all-time high, set Feb 21, 2020 (as of market close, Jul 24, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest O drawdown ever?
- The deepest decline on record in our data (since 1994) took the stock 50.6% below its prior high, bottoming Mar 6, 2009. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily closing prices since 1994 (split-adjusted). "All-time" means since our price data begins — O may have traded earlier. For a 150-year index drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year, 150 years of returns and the rolling-returns explorer. Past performance does not predict future returns; not investment advice.