Broadstone Net Lease, Inc. Financial Ratios — BNL Stock

Profitability (USD)

	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	- -	3.72	2.42	2.44	2.26	1.25	2.31	2.42	2.9	3.1	1.77
Return on Capital (%)	- -	14.46	8.37	9.06	8.77	7.23	10.58	11.53	13.29	14.48	10.46
Return on Invested Capital (%)	- -	7.99	4.03	4.05	4	3.53	4.57	3.95	4.26	4.16	4.26
Gross Margin (%)	96.55	97.27	96.42	95.3	94.65	94.57	95.18	94.66	94.9	94.27	94.94
EBITDA Margin (%)	82.73	84.24	83.1	82.18	81.6	84.36	84.84	84.31	84.68	84.45	85.4
Operating Margin (%)	53.35	52.16	48.53	46.94	46.33	43.45	51.18	47.5	50.18	49.3	50.25
Incremental Operating Margin (%)	- -	49.55	35.14	41.76	43.97	5.78	91.78	-9.73	81.14	84.48	68.51
Pretax Margin (%)	21.3	28.19	33.14	31.99	29.29	17.79	29.04	32.08	37.05	39.41	22.15
Profit Margin (%)	19.66	25.45	30.18	29.21	26.57	15.91	26.75	29.97	35.11	37.62	21.25
Net Income to Common Margin (%)	19.66	25.45	30.18	29.21	26.57	15.91	26.75	29.97	35.11	37.62	21.25
Effective Tax Rate (%)	- -	- -	1.04	1.13	2.76	1.64	1.48	0.98	0.47	0.69	1.15
Dvd Payout Ratio (%)	105.83	80.87	69.26	64.14	68.21	116.56	132.44	132.44	121.25	123.48	213.78
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	- -	867	1,178	1,446	1,981	1,541	1,689	2,023	1,911	1,913	2,508
ST Debt	- -	102	273	141	197	- -	- -	- -	- -	- -	- -
LT Debt	- -	765	905	1,305	1,784	1,541	1,689	2,023	1,911	1,913	2,508
Total Debt/EBITDA	- -	7.2	7.81	7.41	8.12	5.68	5.2	5.89	5.09	5.25	6.47
Net Debt/EBITDA	- -	7.02	7.74	7.31	8.07	5.31	5.13	5.83	5.04	5.21	6.39
Total Debt/EBIT	- -	11.63	13.37	12.97	14.31	11.03	8.62	10.45	8.6	8.99	10.99
Net Debt/EBIT	- -	11.34	13.26	12.8	14.22	10.31	8.51	10.34	8.51	8.92	10.86
EBITDA to Interest Expense	3.59	4.02	4.34	3.69	3.36	3.56	5.06	4.37	4.68	4.92	4.11
EBITDA-CapEx/Interest Expense	3.59	4.02	4.34	3.69	3.36	3.56	5.06	4.37	4.68	4.92	4.11
EBIT to Interest Expense	2.31	2.49	2.54	2.11	1.91	1.84	3.05	2.46	2.78	2.87	2.42
Interest Expense	23	30	35	53	73	76	64	79	80	74	94
Common Equity/Total Assets	- -	-4.61	-4.66	-5.01	-5.32	-6.1	-6.89	-7.07	-8.36	-9.52	-10.85
Long-Term Debt/Equity (%)	- -	76.57	70.45	85.34	100.27	62.17	61.63	62.01	59.82	60.9	82.67
Long-Term Debt/Capital (%)	- -	88.56	78.34	93.03	94.67	105.45	110.07	111.98	118.3	123.09	124.21
Long-Term Debt/Total Assets (%)	- -	39.17	35.08	42.13	45.53	36.19	36.58	37.07	36.27	36.68	43.86
Total Debt/Equity (%)	- -	86.78	91.71	94.57	111.36	62.17	61.63	62.01	59.82	60.9	82.67
Total Debt/Capital (%)	- -	100.37	101.98	103.09	105.14	105.45	110.07	111.98	118.3	123.09	124.21
Total Debt/Total Assets (%)	- -	44.39	45.67	46.69	50.57	36.19	36.58	37.07	36.27	36.68	43.86
Net Debt to Equity	- -	84.62	90.98	93.35	110.66	58.11	60.84	61.34	59.21	60.43	81.66
Net Debt/Capital (%)	- -	100.38	102	103.13	105.17	105.85	110.22	112.12	118.52	123.31	124.58
EBITDA	81	120	151	195	244	271	325	344	375	365	388
EBITDA-CapEx	81	120	151	195	244	271	325	344	375	365	388
Operating Income (Loss)	52	75	88	111	138	140	196	194	222	213	228

Liquidity (USD)

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	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	- -	0.18	0.03	0.11	0.05	1.27	0.24	0.2	0.18	0.13	0.23
Current Ratio	- -	0.55	0.23	0.51	0.41	2.59	1.55	1.46	1.58	1.6	1.61
Quick Ratio	- -	0.54	0.23	0.51	0.41	2.59	1.55	1.46	1.58	1.6	1.61
CFO/Avg Current Liab	- -	1.11	0.47	0.54	0.71	1.13	2.89	2.57	2.47	2.47	2.43
Common Equity/Total Assets	- -	-4.61	-4.66	-5.01	-5.32	-6.1	-6.89	-7.07	-8.36	-9.52	-10.85
Long-Term Debt/Equity (%)	- -	76.57	70.45	85.34	100.27	62.17	61.63	62.01	59.82	60.9	82.67
Long-Term Debt/Capital (%)	- -	88.56	78.34	93.03	94.67	105.45	110.07	111.98	118.3	123.09	124.21
Long-Term Debt/Total Assets (%)	- -	39.17	35.08	42.13	45.53	36.19	36.58	37.07	36.27	36.68	43.86
Total Debt/Equity (%)	- -	86.78	91.71	94.57	111.36	62.17	61.63	62.01	59.82	60.9	82.67
Total Debt/Capital (%)	- -	100.37	101.98	103.09	105.14	105.45	110.07	111.98	118.3	123.09	124.21
Total Debt/Total Assets (%)	- -	44.39	45.67	46.69	50.57	36.19	36.58	37.07	36.27	36.68	43.86
CFO/Total Liabilities	- -	7.05	7.57	8.16	6.89	10.06	13.05	11.66	13.07	13.31	11.16
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	- -	0.11	0.01	0.1	0.08	0.93	1.38	0.87	1.07	0.97	0.82

Working Capital (USD)

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	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	- -	804.9	290.04	246.99	304.91	253.46	262.78	306.52	312.33	181.12	118.19
Days Sales Outstanding	- -	0.45	1.26	1.48	1.2	1.44	1.39	1.19	1.17	2.02	3.09
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	0.45	0.34	0.5	0.52	0.48	0.5	0.51	0.47	0.51	0.42
Accounts Payable Turnover Days	- -	814.04	1,058.84	731.82	705.02	762.88	728.87	717.37	768.62	711.95	866.49
Cash Conversion Cycle	- -	-813.59	-1,057.58	-730.34	-703.82	-761.44	-727.48	-716.18	-767.45	-709.93	-863.4
Inventory to Cash Days	- -	0.45	1.26	1.48	1.2	1.44	1.39	1.19	1.17	2.02	3.09
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	- -	- -	- -	- -	- -	2,294	3,799	2,753	3,214	2,973	3,268
- Cash & Cash Equivalents	- -	22	9	19	12	100	22	22	19	15	31
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	87	97	112	111	180	164	170	145	138	131
+ Total Debt	- -	867	1,178	1,446	1,981	1,541	1,689	2,023	1,911	1,913	2,508
Enterprise Value	- -	932	1,266	1,539	2,080	3,914	5,630	4,924	5,250	5,009	5,876
Total Capital	- -	863	1,155	1,403	1,884	1,462	1,535	1,807	1,615	1,554	2,019
Total Debt/Capital (%)	- -	100.37	101.98	103.09	105.14	105.45	110.07	111.98	118.3	123.09	124.21
Total Debt / EV	- -	0.93	0.93	0.94	0.95	0.39	0.3	0.41	0.36	0.38	0.43
EV/Sales	- -	6.52	6.97	6.48	6.96	12.17	14.71	12.08	11.85	11.6	12.94
EV/EBITDA	- -	7.74	8.39	7.89	8.53	14.43	17.33	14.33	14	13.74	15.15
EV/EBIT	- -	12.5	14.37	13.81	15.03	28.01	28.73	25.44	23.62	23.53	25.75
EV/Cash Flow to Firm	- -	9.59	9.57	8.54	9.55	15.42	18.27	14.75	14.97	14.32	14.96
EV/Free Cash Flow to Firm	- -	9.59	9.57	8.54	9.55	15.42	18.27	14.75	14.97	14.32	14.96
Diluted Market Cap	- -	- -	- -	- -	- -	2,522	4,070	2,921	3,381	3,118	3,432
Diluted Enterprise Value	- -	932	1,266	1,539	2,080	4,143	5,901	5,092	5,417	5,154	6,040
EV per Share	- -	6.61	9.45	10.92	14.76	33.41	36.79	28.99	28.13	26.72	31.24
TTM Sales	98	143	182	237	299	322	383	408	443	432	454
TTM EBITDA	81	120	151	195	244	271	325	344	375	365	388
TTM Operating Income	52	75	88	111	138	140	196	194	222	213	228
TTM Cash Flow to Firm	61	97	132	180	218	254	308	334	351	350	393
TTM Free Cash Flow to Firm	61	97	132	180	218	254	308	334	351	350	393

Multiples (USD)

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	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	- -	- -	- -	- -	- -	14.09	16.62	11.41	12.47	11.29	11.46
EV/EBIT	- -	12.5	14.37	13.81	15.03	28.01	28.73	25.44	23.62	23.53	25.75
Enterprise Value	- -	932	1,266	1,539	2,080	3,914	5,630	4,924	5,250	5,009	5,876
Low Price	- -	- -	- -	- -	- -	15.9	17.72	14.98	13.68	14.21	13.96
EV/Sales	- -	6.52	6.97	6.48	6.96	12.17	14.71	12.08	11.85	11.6	12.94
EV/EBITDA	- -	7.74	8.39	7.89	8.53	14.43	17.33	14.33	14	13.74	15.15
Price/Earnings	- -	- -	- -	- -	- -	44.82	37.09	22.55	20.67	18.3	33.86
Price/Earnings Average	- -	- -	- -	- -	- -	40.11	34.21	27.88	19.46	19.06	32.9
Price/Earnings High	- -	- -	- -	- -	- -	45.76	41.84	34.81	22.25	22.1	36.79
Price/Earnings Low	- -	- -	- -	- -	- -	36.39	26.48	20.83	16.42	16.4	27.22
Price/Book Value	- -	- -	- -	- -	- -	-8.83	-11.93	-7.13	-7.29	-5.99	-5.27
Price/Book Value Average	- -	- -	- -	- -	- -	-7.91	-11	-8.82	-6.87	-6.24	-5.12
Price/Book Value High	- -	- -	- -	- -	- -	-9.02	-13.46	-11.01	-7.85	-7.23	-5.72
Price/Book Value Low	- -	- -	- -	- -	- -	-7.17	-8.52	-6.59	-5.79	-5.37	-4.23
Price/Tangible Book Value	- -	- -	- -	- -	- -	1.24	1.81	1.06	1.25	1.17	1.35
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	1.11	1.67	1.31	1.18	1.22	1.31
Price/Tangible Book Value High	- -	- -	- -	- -	- -	1.27	2.04	1.64	1.35	1.42	1.46
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	1.01	1.29	0.98	0.99	1.05	1.08
Price/Sales	- -	- -	- -	- -	- -	7.13	9.92	6.76	7.26	6.89	7.2
Price/Sales Average	- -	- -	- -	- -	- -	6.38	9.15	8.36	6.83	7.17	6.99
Price/Sales High	- -	- -	- -	- -	- -	7.28	11.19	10.43	7.81	8.31	7.82
Price/Sales Low	- -	- -	- -	- -	- -	5.79	7.08	6.24	5.76	6.17	5.78
Price/Cash Flow	- -	- -	- -	- -	- -	12.81	15.51	10.76	11.85	10.76	10.91
Price/Cash Flow Average	- -	- -	- -	- -	- -	11.47	14.31	13.31	11.16	11.21	10.6
Price/Cash Flow High	- -	- -	- -	- -	- -	13.08	17.5	16.61	12.76	12.99	11.85
Price/Cash Flow Low	- -	- -	- -	- -	- -	10.4	11.07	9.94	9.42	9.64	8.77
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	12.61	15.33	14.12	11.74	11.76	11.13
Price/Free Cash Flow High	- -	- -	- -	- -	- -	14.38	18.74	17.62	13.43	13.63	12.45
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	11.44	11.86	10.55	9.91	10.11	9.21
EV/Sales Average	- -	6.52	6.97	6.48	6.96	11.42	13.94	13.68	11.43	11.89	12.73
EV/Sales High	- -	6.52	6.97	6.48	6.96	12.32	15.98	15.76	12.41	13.03	13.56
EV/Sales Low	- -	6.52	6.97	6.48	6.96	10.83	11.87	11.57	10.36	10.88	11.53
EV/EBITDA Average	- -	7.74	8.39	7.89	8.53	13.54	16.42	16.23	13.5	14.07	14.91
EV/EBITDA High	- -	7.74	8.39	7.89	8.53	14.6	18.83	18.69	14.66	15.43	15.88
EV/EBITDA Low	- -	7.74	8.39	7.89	8.53	12.84	13.99	13.72	12.24	12.89	13.5
EV/EBIT Average	- -	12.5	14.37	13.81	15.03	26.29	27.23	28.81	22.78	24.11	25.34
EV/EBIT High	- -	12.5	14.37	13.81	15.03	28.35	31.22	33.18	24.73	26.42	26.99
EV/EBIT Low	- -	12.5	14.37	13.81	15.03	24.93	23.19	24.36	20.65	22.08	22.94
Last Price	- -	- -	- -	- -	- -	19.58	24.82	16.21	17.22	15.86	17.37
High Price	- -	- -	- -	- -	- -	19.99	28	25.03	18.54	19.15	18.87
Enterprise Value Average	- -	932	1,266	1,539	2,080	3,674	5,335	5,576	5,062	5,133	5,783
Enterprise Value High	- -	932	1,266	1,539	2,080	3,962	6,117	6,422	5,496	5,626	6,158
Enterprise Value Low	- -	932	1,266	1,539	2,080	3,483	4,544	4,715	4,589	4,700	5,235

	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	- -	142	142	142	142	146	162	186	188	189	191
Diluted Weighted Avg Shares	153	153	146	153	153	129	164	180	196	197	198
Basic Weighted Avg Shares	141	141	134	141	141	117	153	170	187	187	188
Revenue per Share	0.7	1.01	1.36	1.69	2.12	2.75	2.5	2.4	2.37	2.3	2.41
EBITDA per Share	0.58	0.85	1.13	1.39	1.73	2.32	2.12	2.02	2.01	1.95	2.06
Operating Income per Share	0.37	0.53	0.66	0.79	0.98	1.19	1.28	1.14	1.19	1.14	1.21
Basic EPS, GAAP	0.14	0.26	0.41	0.49	0.56	0.44	0.67	0.72	0.83	0.87	0.51
Basic EPS from Cont Ops	0.15	0.29	0.44	0.53	0.6	0.48	0.72	0.76	0.88	0.9	0.53
Diluted EPS, GAAP	0.13	0.24	0.37	0.45	0.52	0.4	0.62	0.68	0.79	0.83	0.49
Diluted EPS from Cont Ops	0.14	0.26	0.41	0.49	0.56	0.44	0.67	0.72	0.83	0.86	0.5
Dividend per Share	0.17	0.25	0.33	0.37	0.44	0.61	1.01	1.07	1.11	1.16	1.16
Cash Flow per Share	0.27	0.48	0.73	0.91	1.05	1.53	1.6	1.51	1.45	1.47	1.59
Free Cash Flow per Basic Share	0.27	0.48	0.73	0.91	1.05	1.53	1.6	1.51	1.45	1.47	1.59
Cash & Equivalents per Share	- -	0.15	0.07	0.13	0.09	0.86	0.14	0.13	0.1	0.08	0.16
Book Value per Share	- -	-0.64	-0.9	-1.1	-1.48	-2.22	-2.08	-2.27	-2.36	-2.65	-3.3
Tangible Book Value per Share	- -	5.89	7.78	8.82	10.27	15.78	13.71	15.27	13.75	13.52	12.89

Broadstone Net Lease, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)