| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | 2 | — | — | — | — | — | 1 | — | — | 1 |
| Sell | — | — | — | — | — | — | 1 | — | — | — | — | — |
| total | individual payouts | |
|---|---|---|
| 2028 | ‡‡‡‡‡ |
|
| 2027 | ‡‡‡‡‡ |
|
| 2026 | 0.89 |
—
—
—
|
| 2025 | 0.85 |
—
—
—
—
|
| 2024 | 0.83 |
—
—
—
—
|
| 2023 | 0.81 |
—
—
—
—
|
| 2022 | 0.80 |
—
—
—
—
|
| 2021 | 0.80 |
—
—
—
—
|
| 2020 | 0.30 |
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 29.93 | 14.32 | 14.47 | 20.05 |
| Receivables | — | — | — | — |
| Inventory | — | — | — | — |
| Other | — | — | — | — |
| 144.40 | 153.73 | 156.93 | 171.48 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 36.50 | 29.66 | 42.56 | 40.58 |
| ST’ Debt | — | — | — | — |
| Other | — | — | — | — |
| 44.38 | 37.52 | 50.37 | 48.37 |
| 10y | 5y | 3y | |
| Sales | — | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | — | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | — | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Book Value | — | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 57.06 | 61.28 | — | — |
—
|
| ’25 | 45.91 | 48.29 | 48.31 | 52.50 |
195.01
|
| ’24 | 37.67 | 39.57 | 41.44 | 44.10 |
162.78
|
| ’23 | 29.45 | 31.63 | 33.96 | 36.86 |
131.91
|
| ’22 | 21.33 | 22.63 | 25.01 | 27.30 |
96.28
|
| ’21 | 11.93 | 13.80 | 15.60 | 17.81 |
59.14
|
| ’20 | 5.51 | 7.12 | 9.65 | 11.45 |
33.73
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 26.31 | 36.74 | — | — |
—
|
| ’25 | 22.09 | 30.64 | 27.97 | 28.81 |
109.51
|
| ’24 | 11.65 | 25.37 | 25.11 | 28.04 |
90.16
|
| ’23 | 14.81 | 19.59 | 17.12 | 28.64 |
80.16
|
| ’22 | 8.95 | 13.30 | 16.46 | 11.94 |
50.65
|
| ’21 | 4.27 | 9.49 | 5.45 | 12.27 |
31.48
|
| ’20 | 0.89 | 0.91 | 3.90 | 7.05 |
12.75
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (202.70) | (166.28) | — | — |
—
|
| ’25 | (19.63) | (19.41) | (127.83) | (170.53) |
(337.41)
|
| ’24 | (75.32) | (75.88) | (83.43) | (103.73) |
(338.37)
|
| ’23 | (39.93) | (89.76) | (96.53) | (74.44) |
(300.66)
|
| ’22 | (83.70) | (97.18) | (111.65) | (79.71) |
(372.24)
|
| ’21 | (85.30) | (99.45) | (67.22) | (147.39) |
(399.36)
|
| ’20 | (72.73) | (140.92) | (97.54) | 323.93 |
(349.85)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 0.06 | 0.06 | — | — |
—
|
| ’25 | 0.02 | 0.04 | 0.01 | 0.02 |
0.08
|
| ’24 | 0.01 | (0.03) | (0.07) | (0.07) |
(0.16)
|
| ’23 | 0.03 | (0.01) | 0.06 | 0.03 |
0.11
|
| ’22 | 0.04 | 0.04 | 0.03 | 0.05 |
0.16
|
| ’21 | 0.02 | (0.07) | 0.07 | 0.05 |
0.08
|
| ’20 | (0.04) | (0.01) | (0.11) | 0.15 |
0.01
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | 17.07 | 13.49 | 13.74 | 13.42 | — | — | — |
Low Price
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | 23.86 | 20.64 | 18.97 | 19.64 | — | — | — |
High Price
|
| — | — | — | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 30 | 28 | 22 | 29 | — | — | — |
Employees
|
| — | — | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.21 | 4.71 | 7.40 | 6.72 | — | — | — |
Revenue/Emp
|
| — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 96.28 | 131.91 | 162.78 | 195.01 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| — | — | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 87.85% | 87.56% | 89.30% | 90.15% | — | — | — |
Gross Margin
|
| — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8.60 | 6.84 | (11.95) | 6.99 | — | — | — |
EBT
|
| — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8.93% | 5.19% | (7.34%) | 3.59% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8.21 | 6.89 | (12.00) | 6.94 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 50.97 | 63.40 | 75.43 | 92.49 | — | — | — |
Depreciation
|
| — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.94 | 2.06 | 2.13 | 2.36 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 0.16 | 0.11 | (0.16) | 0.08 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.02 | 1.25 | 1.18 | 1.32 | ‡‡‡‡ | — | — |
Cash Flow/Sh
|
| — | — | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (8.54) | (5.96) | (5.60) | (5.40) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (7.52) | (4.70) | (4.42) | (4.08) | — | — | — |
Free CF/Sh
|
| — | — | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 21.37 | 19.92 | 17.49 | 17.56 | — | — | — |
Book Value/Sh
|
| — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 49.52 | 63.92 | 76.52 | 82.70 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| — | — | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | 116.06 | 166.27 | 0.00 | 196.00 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| — | — | ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 9.55 | 8.86 | 6.65 | 7.48 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.87 | 0.92 | 0.81 | 1.00 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| — | — | ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 13.87 | 13.20 | 11.86 | 13.01 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (3.59) | (5.79) | (5.70) | (7.52) | — | — | — |
EV/FCF
|
| — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 50.65 | 80.16 | 90.16 | 109.51 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (422.89) | (380.82) | (428.54) | (446.92) | — | — | — |
Capex
|
| — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (372.24) | (300.66) | (338.37) | (337.41) | — | — | — |
FCF
|
| — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 86.49 | 100.02 | 116.21 | 106.56 | — | — | — |
Working Cap'
|
| — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 486.30 | 601.91 | 861.61 | 1,093.33 | — | — | — |
Total Debt
|
| — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 415.75 | 571.98 | 847.29 | 1,078.86 | — | — | — |
Net Debt
|
| — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,058.42 | 1,273.43 | 1,338.13 | 1,452.57 | — | — | — |
Sh' Equity
|
| — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.61% | 0.38% | (0.57%) | 0.28% | — | — | — |
ROA
|
| — | — | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.57% | 0.82% | 0.53% | 1.24% | — | — | — |
ROIC
|
| — | — | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.88% | 0.59% | (0.91%) | 0.49% | — | — | — |
ROE
|
NETSTREIT Corp. (NTST), a nimble net lease REIT betting on e-commerce-proof necessities like groceries and quick-service eats, has delivered explosive revenue growth—surging 383% from $33.7 million in 2020 to $162.8 million in 2024, with analysts eyeing $313 million by 2028. This feat stems from aggressive acquisitions, sky-high revenue per employee ($7.4 million), and rock-solid 98%+ rent collection even through COVID chaos, outshining mall-dependent rivals. Yet, this growth machine runs hot on capex fumes, with free cash flow deeply negative and shares diluted 342% to fund the spree.
Profitability tells a wilder tale: swings from profits to a $12 million 2023 loss, redeemed by insider buys totaling $0.36 million—all purchases, no sales—signaling execs see undervaluation amid rising debt to $862 million. Stock’s 50% rebound from 2023 lows hugs mid-range valuations (PS at 6.7, 4-9% upside to targets), but leverage amplifies rate risks, and recession could test even “necessity” tenants. Is NTST a resilient underdog or a debt-fueled mirage?
In a real assets renaissance, NTST’s flywheel tempts growth chasers, but contrarians beware: dilution and capex black holes demand scrutiny before chasing the yield-expansion trade. Full analysis unpacks if insiders are geniuses or gamblers.
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