Broadstone Net Lease, Inc.

Broadstone Net Lease, Inc.

BNL
Broadstone Net Lease, Inc.US flagNew York Stock Exchange
18.79
USD
-0.12
- -
3.60BMarket Cap
Broadstone Net Lease, Inc.
BNL
(New York Stock Exchange)

Recent

price

18.79

P/E

ratio

- -

div

yld

- -

ROIC.AI

2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
0.7
1.01
1.36
1.69
2.12
2.75
2.5
2.4
2.37
2.3
2.41
2.51
Revenue per Share
0.14
0.26
0.41
0.49
0.56
0.44
0.67
0.72
0.83
0.87
0.51
0.77
Basic EPS, GAAP
0.27
0.48
0.73
0.91
1.05
1.53
1.6
1.51
1.45
1.47
1.59
1.49
Free Cash Flow per Basic Share
0.17
0.25
0.33
0.37
0.44
0.61
1.01
1.07
1.11
1.16
1.16
1.16
Dividend per Share
- -
6.4
8.34
9.95
11.71
15.79
15.87
16.62
16.25
15.92
15.16
15.02
Book Value per Share
- -
5.22
6.63
7.94
9.38
11.46
11.91
13.02
12.91
12.7
11.99
11.94
Tangible Book Value per Share
141
141
134
141
141
117
153
170
187
187
188
189
Basic Weighted Avg Shares
98
143
182
237
299
322
383
408
443
432
454
476
Sales/Revenue/Turnover
53.35
52.16
48.53
46.94
46.33
43.45
51.18
47.5
50.18
49.3
50.25
49.81
Operating Margin (%)
29
46
63
84
105
132
129
150
153
152
160
168
Depreciation Expense
19
36
55
69
79
51
102
122
155
162
96
146
Net Income, GAAP
- -
- -
1.04
1.13
2.76
1.64
1.48
0.98
0.47
0.69
1.15
0.84
Effective Tax Rate (%)
19.66
25.45
30.18
29.21
26.57
15.91
26.75
29.97
35.11
37.62
21.25
30.61
Profit Margin (%)
- -
-55
-228
-86
-140
125
49
50
64
68
81
-387
Working Capital
- -
765
905
1,305
1,784
1,541
1,689
2,023
1,911
1,913
2,508
2,228
LT Debt
- -
999
1,284
1,529
1,779
2,479
2,741
3,263
3,194
3,141
3,033
3,008
Total Equity
- -
7.99
4.03
4.05
4
3.53
4.57
3.95
4.26
4.16
4.26
4.32
Return on Invested Capital (%)
- -
6.69
3.9
4.26
4.28
3.11
3.75
3.97
4.38
4.52
3.53
4.53
Return on Capital (%)
- -
7.97
5.22
5.33
5.15
2.58
4.2
4.31
5.06
5.37
3.27
5.04
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
- -
398
447
LT Borrowings
2,508
2,242
2,228
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
191
192
192
Market Capitalization
3,325
3,504
3,965

Working Capital

FRC

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
214
209
205
Cash, Cash Equivalents & STI
31
20
11
Accounts Receivable, Net
4
4
6
Inventories
- -
- -
- -
Total Current Liabilities
133
541
591
Payables & Accruals
133
143
144
ST Debt
- -
398
447
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
4.48%
-3.44%
Free Cash Flow
24.46%
11.51%
8.41%
Net Income, GAAP
25.53%
22.11%
-40.6%
Sales/Revenue/Turnover
17.38%
7.36%
5.17%
Total Cash Common Dividend
27.93%
30.63%
0.93%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
105
106
108
112
432
2025
109
113
114
118
454
2026
121
122
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.35
0.19
0.19
0.14
0.87
2025
0.09
0.11
0.14
0.18
0.51
2026
0.24
0.21
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.29
0.29
0.29
0.29
1.16
2025
0.3
0.29
0.28
0.29
1.16
2026
0.29
0.29
- -
- -
- -
Business
Broadstone Net Lease, Inc. is an industrial-focused, diversified real estate investment trust (REIT) that invests in, owns, and manages primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. The company's core offerings include ownership and management of single-tenant properties across industrial, healthcare, restaurant, retail, and office sectors, with a strategic focus on properties integral to tenant operations and located in 44 U.S. states and four Canadian provinces. Broadstone Net Lease’s portfolio consists of approximately 769 net-leased properties totaling nearly 40 million rentable square feet, serving over 200 tenants across 55 industries. The company employs a disciplined investment strategy underpinned by strong credit analysis and real estate underwriting to secure net leases with creditworthy tenants, targeting properties with positive business drivers and trends. Founded in 2007 and headquartered in Victor, New York, Broadstone Net Lease operates as an internally managed REIT. In recent years, Broadstone Net Lease has executed significant investment and development activities, including $697 million invested year-to-date in 2025 encompassing $417 million in new property acquisitions, $182 million in build-to-suit developments, and capital expenditures on transitional and revenue-generating improvements. Notably, the company has expanded its build-to-suit pipeline, adding $21 million to its committed projects with developments in strategic markets such as Texas, Georgia, Ohio, and California. Broadstone has also formed a strategic partnership with Prologis, Inc. to collaborate on a $782 million build-to-suit development project, reflecting a major step in expanding its footprint and development capabilities. The company maintains a strong balance sheet with prudent investment discipline and a focus on delivering consistent adjusted funds from operations (AFFO) growth, positioning it well for long-term value creation and operational execution through 2026. Broadstone Net Lease's product and service scope include acquisition, ownership, and management of net leased commercial properties primarily devoted to industrial use but diversified into other commercial sectors. The company provides build-to-suit development services tailored to tenants’ operational needs and invests in transitional capital to enhance its existing assets. Its portfolio management emphasizes lease stability and tenant credit quality, aiming to minimize lease rollover risk while maintaining diversification across over 200 tenants. Broadstone's operations extend primarily across the United States and Canada, catering to tenants in industries that exhibit favorable business conditions and long-term growth potential. Broadstone Net Lease, Inc. continues to leverage its investment-grade balance sheet, disciplined capital allocation, and expanding relationships to execute on its core strategy of growing through high-quality net leased assets and targeted build-to-suit developments. The company's recent strategic moves, including significant capital deployment, project completions such as the MRO facility for Sierra Nevada development, and ongoing expansions, reflect its commitment to sustaining high-quality portfolio growth and operational efficiency. The company is publicly listed on the New York Stock Exchange under the ticker BNL. In summary, Broadstone Net Lease offers diversified net leased commercial properties with an emphasis on industrial real estate, supported by recent major investments, strategic partnerships, and an expanding build-to-suit pipeline that underpin its growth strategy and long-term value creation prospects. The company was founded in 2007, headquartered in Victor, New York, and maintains geographic operations across the U.S. and Canada with a portfolio managed to optimize lease security and tenant creditworthiness.

Company News

  • Engineers Gate Manager LP Invests $1.48 Million in Broadstone Net Lease, Inc. $BNL

  • The Ultimate SWAN Investment: Why Retirees Should Own Net Lease REITs

  • Broadstone Net Lease: The Dilution Looks Worse Than The Economics

  • Broadstone Net Lease: The Opportunity Window Has Closed (Rating Downgrade)

  • Broadstone Net Lease, Inc. (NYSE:BNL) Given Average Recommendation of “Moderate Buy” by Brokerages

  • Broadstone Net Lease Adds $23 Million to its Committed Pipeline of Build-to-Suit Developments

  • Deutsche Bank AG Buys New Stake in Broadstone Net Lease, Inc. $BNL

  • Comparing Broadstone Net Lease (NYSE:BNL) & United Development Funding IV (OTCMKTS:UDFI)

  • Broadstone Net Lease, Inc. Announces Pricing of Public Offering of Common Stock

  • Broadstone Net Lease, Inc. Announces Public Offering of Common Stock

  • Broadstone Net Lease, Inc. (BNL) Q2 2026 Earnings Call Transcript

  • Broadstone Net Lease, Inc. (BNL) Q2 FFO Top Estimates

  • Broadstone Net Lease Announces Second Quarter 2026 Results

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  • Broadstone Net Lease Schedules Second Quarter 2026 Earnings Release and Conference Call

  • Broadstone Net Lease: Industrial Build-To-Suit Strategy Keeps The Growth Story Intact

  • Broadstone Net Lease: An Investment-Grade Winner Among Diversified REITs, As Margins Recover

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  • Broadstone Net Lease Adds $40 Million to its Committed Pipeline of Build-to-Suit Developments