Broadstone Net Lease, Inc.

BNL Real Estate Reit Diversified

Broadstone Net Lease, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $454.1 million, up 5.17% from fiscal 2024.

Revenue
+6.74%
EPS
+5.36%
Free cash flow
−35.3%
Total debt
+35.9%

Quarter to September 2026, against a year earlier

18.02 0.04 +0.22%
Market cap
$3.5B
P/E
23.4×
Fwd P/E
23.4×
Dividend yield
6.50%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a

Broadstone Net Lease, Inc. (BNL) Operating margin

Alert me on Operating margin

Broadstone Net Lease, Inc.'s operating margin over the twelve months to 30 September 2026 was 46.0%, up 4.5 percentage points from fiscal 2025 (41.5%). Over the past ten years it has ranged from 0.00% (fiscal 2017) to 46.1% (fiscal 2022); the current reading is higher than 55% of that period. That is above the Reit Diversified industry median of 31.7% and above the Real Estate sector median of 18.4%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 41.5% 3.54
FY2024 38.0% (5.16)
FY2023 43.1% (3.02)
FY2022 46.1% 2.33
FY2021 43.8% 6.29
FY2020 37.5% (7.65)
FY2019 45.2% (0.90)
FY2018 46.1% 46.07
FY2017 0.00% 0.00
FY2016 0.00% 0.00

Quarterly newest first

Period Operating margin Change (points)
Sep 2026 42.3% (0.22)
Jun 2026 42.5% (9.71)
Mar 2026 52.2% 4.92
Dec 2025 47.3% 2.81
24 more quarters

Against its own ten years

Low 0.00% High 46.1%
Ten-year median 41.5%
Current reading's percentile 75

Operating margin against peers

Company Operating margin
SAFE Safehold Inc. compare 75.6%
BNL Broadstone Net Lease, Inc. 46.0%
WPC W.P. Carey Inc. compare 43.8%
GNL Global Net Lease, Inc. compare 39.6%
CTO CTO Realty Growth, Inc. compare 37.5%
AHRT AH Realty Trust Inc compare 27.9%
AAT American Assets Trust, Inc. compare 23.6%
JBGS JBG SMITH Properties compare −0.88%
ESRT Empire State Realty Trust, Inc. compare −4.40%
Reit Diversified industry median 31.7%
Real Estate sector median 18.4%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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