BNL · Broadstone Net Lease, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $121.40M | - | $114.17M | $112.99M | $108.69M | - | $108.40M | $105.91M | $105.37M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $10.35M | - | $9.97M | $9.57M | $9.67M | - | $8.72M | $9.90M | $9.43M | - |
| Total Operating Expenses | $58.05M | - | $63.42M | $69.09M | $70.78M | - | $54.81M | $56.46M | $79.26M | - |
| D&A | $40.51M | - | $40.25M | $42.58M | $38.43M | - | $38.02M | $37.40M | $36.75M | - |
| Operating Income | - | - | - | - | - | - | - | - | - | - |
| Interest Expense | $25.26M | - | $18.18M | $21.11M | $20.07M | - | $18.18M | $17.76M | $18.58M | - |
| Income Tax | $311.0K | - | ($291.0K) | $531.0K | - | - | - | - | - | - |
| Net Income | $46.37M | - | $26.47M | $20.16M | $16.74M | - | $35.61M | $35.33M | $65.11M | - |
| EPS - Basic | $0.24 | - | $0.14 | $0.11 | $0.09 | - | $0.19 | $0.19 | $0.35 | - |
| EPS - Diluted | $0.24 | - | $0.14 | $0.10 | $0.09 | - | $0.19 | $0.19 | $0.35 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $20.31M | $30.54M | $81.97M | $20.78M | $9.61M | $14.85M | $9.00M | $18.28M | $221.74M | $19.49M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - | - | - | - | - |
| Total Assets | $5.85B | $5.72B | $5.52B | $5.33B | $5.24B | $5.22B | $5.26B | $5.26B | $5.27B | $5.27B |
| Current Liabilities | - | - | - | - | - | - | - | - | - | - |
| Long-term Debt | $2.65B | $2.52B | $2.35B | $2.12B | $2.00B | $1.92B | $1.95B | $1.91B | $1.90B | $1.92B |
| Total Liabilities | $2.82B | $2.68B | $2.51B | $2.29B | $2.16B | $2.07B | $2.12B | $2.07B | $2.05B | $2.07B |
| Stockholders' Equity | $2.89B | $2.90B | $2.88B | $2.91B | $2.95B | $3.00B | $3.00B | $3.05B | $3.07B | $3.05B |
| Retained Earnings | - | - | - | - | - | - | - | - | - | - |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $76.09M | - | - | - | $71.46M | - | - | - | $70.87M | - |
| Investing Cash Flow | ($162.41M) | - | - | - | ($85.33M) | - | - | - | $204.28M | - |
| Financing Cash Flow | $74.36M | - | - | - | $8.92M | - | - | - | ($73.01M) | - |
| CapEx | $1.36M | - | - | - | $14.35M | - | - | - | $3.13M | - |
| Free Cash Flow | $74.73M | - | - | - | $57.11M | - | - | - | $67.73M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | - | - | - | - | - | - | - | - | - | - |
| EBITDA margin | - | - | - | - | - | - | - | - | - | - |
| Net margin | 38.2% | - | 23.2% | 17.8% | 15.4% | - | 32.8% | 33.4% | 61.8% | - |
| Free cash flow margin | 61.6% | - | - | - | 52.5% | - | - | - | 64.3% | - |
| FCF / Net income | 1.61 | - | - | - | 3.41 | - | - | - | 1.04 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 8.5% | - | 8.7% | 8.5% | 8.9% | - | 8.0% | 9.4% | 9.0% | - |
| Effective tax rate | 0.7% | - | -1.1% | 2.6% | - | - | - | - | - | - |
| Return on assets | 0.8% | - | 0.5% | 0.4% | 0.3% | - | 0.7% | 0.7% | 1.2% | - |
| Return on equity | 1.6% | - | 0.9% | 0.7% | 0.6% | - | 1.2% | 1.2% | 2.1% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | - | - | - | - | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - | - | - | - | - |
| Leverage | ||||||||||
| Debt / Equity | 0.92 | 0.87 | 0.82 | 0.73 | 0.68 | 0.64 | 0.65 | 0.62 | 0.62 | 0.63 |
| Debt / Assets | 0.45 | 0.44 | 0.43 | 0.40 | 0.38 | 0.37 | 0.37 | 0.36 | 0.36 | 0.36 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 2.02 | 1.97 | 1.91 | 1.83 | 1.78 | 1.74 | 1.75 | 1.72 | 1.71 | 1.73 |
| Liabilities / Assets | 0.48 | 0.47 | 0.45 | 0.43 | 0.41 | 0.40 | 0.40 | 0.39 | 0.39 | 0.39 |
| Efficiency | ||||||||||
| Asset turnover | 0.02 | - | 0.02 | 0.02 | 0.02 | - | 0.02 | 0.02 | 0.02 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 76.1x | - | 127.6x | 160.5x | 189.3x | - | 99.7x | 83.5x | 44.8x | - |
| P / B | 1.3x | - | 1.2x | 1.1x | 1.1x | - | 1.2x | 1.0x | 1.0x | - |
| P / S | 30.1x | - | 30.9x | 28.0x | 30.9x | - | 34.4x | 29.4x | 29.2x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 11.7% | - | 5.3% | 6.7% | 3.2% | - | -1.0% | -3.2% | -11.5% | - |
| Revenue CAGR (3y) | 0.7% | - | 3.3% | 4.9% | 5.0% | - | -4.1% | 7.7% | 8.4% | - |
| Revenue CAGR (5y) | 8.0% | - | 7.2% | 7.0% | 6.8% | - | 7.2% | 8.9% | 9.0% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Net income growth (YoY) | 176.9% | - | -25.7% | -42.9% | -74.3% | - | -28.3% | -41.1% | 65.7% | - |
| EPS growth (YoY) | 166.7% | - | -26.3% | -47.4% | -74.3% | - | -26.9% | -40.6% | 66.7% | - |
| EPS CAGR (3y) | 4.6% | - | -4.4% | -20.6% | -17.5% | - | 1.8% | 10.7% | 51.8% | - |
| EPS CAGR (5y) | 19.1% | - | -10.2% | - | - | - | - | - | - | - |
| FCF growth (YoY) | 30.8% | - | - | - | -15.7% | - | - | - | 15.2% | - |
| FCF CAGR (5y) | 8.2% | - | - | - | 7.2% | - | - | - | 16.2% | - |
| Book value growth (YoY) | -1.9% | -3.4% | -3.8% | -4.8% | -4.0% | -1.5% | -3.9% | -1.7% | -0.2% | -1.4% |
Peer comparison
Same SIC group: Real Estate Investment Trusts
Comparing Broadstone Net Lease against the 5 most active filers in the same SIC group.
Dividends
$1.16/share trailing 12 months · +0.3% YoY
| Ex-date | Per share |
|---|---|
| Mar 31, 2026 | $0.2930 |
| Dec 31, 2025 | $0.2900 |
| Sep 30, 2025 | $0.2900 |
| Jun 30, 2025 | $0.2900 |
| Mar 31, 2025 | $0.2900 |
| Dec 31, 2024 | $0.2900 |
| Sep 30, 2024 | $0.2900 |
| Jun 28, 2024 | $0.2900 |
| Mar 27, 2024 | $0.2850 |
| Dec 28, 2023 | $0.2850 |
| Sep 28, 2023 | $0.2800 |
| Jun 29, 2023 | $0.2800 |
| Mar 30, 2023 | $0.2750 |
| Dec 29, 2022 | $0.2750 |
| Sep 29, 2022 | $0.2700 |
| Jun 29, 2022 | $0.2700 |
| Mar 30, 2022 | $0.2650 |
| Dec 30, 2021 | $0.2650 |
| Sep 29, 2021 | $0.2550 |
| Jun 29, 2021 | $0.2550 |
| Mar 30, 2021 | $0.2500 |
| Dec 30, 2020 | $0.2500 |
| Sep 29, 2020 | $0.1350 |