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Broadstone Net Lease, Inc.

Broadstone Net Lease, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $454.1 million, up 5.17% from fiscal 2024. In the quarter to June 2026, revenue grew 8.25%, EPS grew 90.9%, free cash flow grew 126.1% and total debt rose 38.2%, each against the same quarter a year earlier. Dividend growth for five consecutive years, operating cash flow growth for ten; insiders bought in the last twelve months.

18.26 0.02 +0.11%

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Market cap: $3.5B
P/E: 24.0×
Fwd P/E: 25.2×
Dividend yield: 6.39%
F-score: 6/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.21

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	1	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 0.53%

Capital & Financial Ratios $m

Market Cap 3,500.00

Revenue 476.17

Net Income 148.74

Free Cash Flow (383.54)

Net Debt 1,431.70

Current Ratio 0.07

Debt/Equity 0.48

P/E ratio 24.03

Fwd P/E 25.20

P/S ratio 7.31

P/B ratio 1.16

Past 5Y EPS Growth 4.56%

This Y EPS Growth 52.02%

Next Y EPS Growth (2.96%)

Next Y revenue growth 8.14%

Next 5Y EPS Growth 15.94%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 41.56%

10-year low 10-year high

P/S against its own 10 years 39.17%

10-year low 10-year high

P/B against its own 10 years 67.50%

10-year low 10-year high

EV/Sales against its own 10 years 57.60%

10-year low 10-year high

Dividends

Payout Ratio 1.54

Annual Dividend Rate 1.17

Annual Dividend Yield 6.39%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	1.17	0.29 0.29 0.29
2025	1.16	0.29 0.29 0.29 0.29
2024	1.16	0.29 0.29 0.29 0.29
2023	1.12	0.28 0.28 0.28 0.29
2022	1.08	0.27 0.27 0.27 0.28
2021	1.03	0.25 0.26 0.26 0.27
2020	1.54	0.14 0.94 0.21 0.25
2019	Powerpack
2018	Powerpack
2017	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	19	15	31	11
Receivables	154	166	183	193
Inventory	—	—	—	—
Other	—	—	—	—
	174	181	214	205

	2023	2024	2025	Q'26
Payables	48	49	60	72
ST’ Debt	936	990	1,260	1,443
Other	—	—	—	—
	1,964	1,968	2,581	2,758

Compound Annual Growth %

	10y	5y	3y
Sales	16.56%	7.14%	3.68%
Cash Flow	22.73%	10.84%	5.38%
Earnings	17.82%	13.52%	(7.55%)
Book Value	16.30%	4.12%	(2.40%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	121	122	—	—	—
’25	109	113	114	118	454
’24	105	106	108	112	432
’23	119	109	110	105	443
’22	94	98	104	112	408
’21	83	85	123	93	383
’20	78	80	81	82	322

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	76	58	—	—	—
’25	71	79	64	85	299
’24	71	74	67	64	276
’23	74	62	74	61	271
’22	59	59	78	60	256
’21	52	47	88	58	245
’20	40	39	54	46	179

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(86)	13	—	—	—
’25	(13)	(51)	(107)	(204)	(375)
’24	276	(153)	2	91	217
’23	104	64	116	11	295
’22	(149)	(113)	(128)	(214)	(604)
’21	(16)	157	(402)	(76)	(338)
’20	76	45	59	(1)	150

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.24	0.21	—	—	—
’25	0.09	0.10	0.14	0.17	0.50
’24	0.35	0.19	0.19	0.14	0.86
’23	0.21	0.32	0.26	0.03	0.83
’22	0.16	0.20	0.16	0.20	0.72
’21	0.15	0.14	0.18	0.19	0.67
’20	0.10	0.14	0.08	0.10	0.40

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	—	—	—	15.90	17.72	14.98	13.68	14.21	13.96	Analyst estimates 2026–2028 Powerpack
	High	—	—	—	—	19.99	28.00	25.03	18.54	19.15	18.87
People
People	Employees	—	—	—	73	71	76	73	74	73	62
	Revenue/emp, $m	0.00	0.00	0.00	4.09	4.53	5.04	5.58	5.98	5.92	7.32
Income, $m
Income, $m	Revenue	143	177	237	299	322	383	408	443	432	454
	Gross margin, %	0.00	0.00	84.90	84.57	93.40	95.18	94.66	94.90	94.27	94.94
	EBT	40	55	76	88	57	111	131	164	170	101
	EBT margin, %	27.85	30.98	31.99	29.29	17.79	29.04	32.08	37.05	39.41	22.15
	Net income	36	50	75	85	56	110	129	163	169	99
	Depreciation	—	—	85	108	135	133	154	157	156	165
Per share, $
Per share, $	Revenue	0.00	10.39	2.93	3.12	2.75	2.50	2.40	2.37	2.30	2.41
	Earnings	2.76	3.21	0.93	0.89	0.44	0.67	0.72	0.83	0.86	0.51
	Cash flow	0.00	5.73	1.58	1.54	1.53	1.60	1.51	1.45	1.47	1.59
	Capex	—	0.00	(6.51)	(8.69)	(0.24)	(3.81)	(5.06)	0.13	(0.32)	(3.58)
	Free cash flow	0.00	5.73	(4.93)	(7.15)	1.28	(2.21)	(3.56)	1.58	1.16	(1.99)
	Book value	0.00	69.48	0.00	18.55	21.16	17.91	19.21	17.12	16.76	16.12
	Shares, m	—	17	81	96	117	153	170	187	187	188
Valuation, ×
Valuation, ×	P/E	10.72	10.72	10.72	10.72	42.48	37.61	22.49	21.14	18.23	34.06
	P/S	0.00	0.00	0.00	0.00	8.76	9.92	6.75	7.39	6.89	7.20
	P/B	1.10	1.10	1.10	1.10	1.14	1.39	0.84	1.03	0.95	1.08
	EV/Sales	0.00	0.00	0.00	0.00	11.44	12.34	9.25	9.46	9.14	9.90
	EV/FCF	4.40	4.40	4.40	4.40	20.55	(13.98)	(6.24)	14.19	18.22	(12.01)
Cash, $m
Cash, $m	Operating cash flow	67	98	128	147	179	245	256	271	276	299
	Capex	(2)	(7)	(527)	(833)	(29)	(583)	(860)	24	(60)	(674)
	Free cash flow	67	98	(399)	(686)	150	(338)	(604)	295	217	(375)
Balance, $m
Balance, $m	Working capital	—	—	—	(1,924)	(1,377)	(1,594)	(1,919)	(1,790)	(1,787)	(2,367)
	Total debt	914	1,259	3	197	961	946	1,042	936	990	1,260
	Net debt	891	1,249	(16)	185	861	924	1,020	916	975	1,230
	Shareholders’ equity	912	1,187	—	1,779	2,479	2,741	3,263	3,194	3,141	3,033
Returns, %
Returns, %	ROA	2.10	2.22	5.38	2.44	1.25	2.31	2.42	2.90	3.10	1.77
	ROIC	0.00	0.00	0.00	4.30	2.26	2.86	2.74	2.90	2.49	2.76
	ROE	4.54	4.78	5.33	4.97	2.40	3.92	4.07	4.82	5.13	3.13

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
WPC W.P. Carey Inc.	$14.4B	21.6×	25.7×	+7.03% (above 0%: growing)	+256.52% (above 0%: growing)	−230.11% (below 0%: shrinking)	90.61%	35.47%	Compare
BNL Broadstone Net Lease, Inc.	$3.5B	24.0×	25.2×	+8.25% (above 0%: growing)	+90.91% (above 0%: growing)	+126.12% (above 0%: growing)	95.24%	42.47%
GNL Global Net Lease, Inc.	$1.8B	— (loss-making)	— (loss-making)	−9.95% (below 0%: shrinking)	n/m	+54.71% (above 0%: growing)	88.09%	48.66%	Compare
AAT American Assets Trust, Inc.	$1.3B	74.2×	51.4×	+1.44% (above 0%: growing)	0.00%	−13.90% (below 0%: shrinking)	70.98%	24.02%	Compare
SAFE Safehold Inc.	$856.9M	7.4×	9.3×	+22.17% (above 0%: growing)	+7.69% (above 0%: growing)	−181.89% (below 0%: shrinking)	87.18%	73.05%	Compare
JBGS JBG SMITH Properties	$822.3M	— (loss-making)	— (loss-making)	+2.29% (above 0%: growing)	n/m	+71.92% (above 0%: growing)	62.69%	2.98%	Compare
ESRT Empire State Realty Trust, Inc.	$792.9M	154×	110×	+2.95% (above 0%: growing)	n/m	+42.29% (above 0%: growing)	74.97%	(70.45%)	Compare
CTO CTO Realty Growth, Inc.	$770.7M	15.1×	45.6×	+16.45% (above 0%: growing)	n/m	+162.11% (above 0%: growing)	74.62%	30.23%	Compare
GOOD Gladstone Commercial Corporation	$620.0M	48.7×	56.2×	+11.27% (above 0%: growing)	+266.67% (above 0%: growing)	+112.75% (above 0%: growing)	79.76%	40.36%	Compare
Median of peers	$839.6M	35.2×	48.5×	+4.99%	+132.11%	+48.50%	77.37%	32.85%

All 16 Reit Diversified stocks →

Broadstone Net Lease, Inc. (BNL) key facts

Strength: Broadstone Net Lease, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $454.1 million, up 5.17% from fiscal 2024.
Broadstone Net Lease, Inc. (BNL) is a Reit Diversified company in the Real Estate sector, listed on the New York Stock Exchange.
As of October 9, 2026, BNL traded at $18.26, a market capitalization of $3.5 billion.
Broadstone Net Lease, Inc. pays an annual dividend of $1.17 per share, a yield of 6.39%, with a payout ratio of 153.6%.
Return on equity was 3.13% and debt-to-equity 0.48.
Its Piotroski F-score is 6 out of 9 for fiscal 2025.