NNN · Nnn REIT, 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 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $926.21M | $869.27M | $828.11M | $773.05M | $726.41M | $660.68M |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $46.92M | $44.29M | $43.75M | $41.70M | $44.64M | $38.16M |
| Total Operating Expenses | $384.95M | $333.68M | $320.49M | $307.96M | $300.40M | $302.43M |
| D&A | $268.44M | $249.68M | $238.63M | $223.83M | $205.22M | $196.62M |
| Operating Income | $589.49M | $577.87M | $555.10M | $482.54M | $449.10M | $374.49M |
| Interest Expense | $203.96M | $184.02M | $163.90M | $148.06M | $137.87M | $129.43M |
| Income Tax | - | - | - | - | - | $0 |
| Net Income | $389.78M | $396.83M | $392.34M | $334.63M | $290.11M | $228.80M |
| EPS - Basic | $2.07 | $2.16 | $2.16 | $1.89 | $1.51 | $1.22 |
| EPS - Diluted | $2.07 | $2.15 | $2.16 | $1.89 | $1.51 | $1.22 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $5.05M | $8.73M | $1.19M | $2.50M | $171.32M | $267.24M |
| Accounts Receivable | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - |
| Total Assets | $9.38B | $8.87B | $8.66B | $8.15B | $7.75B | $7.64B |
| Current Liabilities | - | - | - | - | - | - |
| Long-term Debt | $200.00M | - | - | - | - | - |
| Total Liabilities | $4.97B | $4.51B | $4.50B | $4.02B | $3.85B | $3.32B |
| Stockholders' Equity | $4.41B | $4.36B | $4.16B | $4.12B | $3.90B | $4.32B |
| Retained Earnings | ($882.71M) | ($829.29M) | ($805.88M) | ($793.76M) | ($747.85M) | ($644.78M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $667.13M | $635.50M | $612.41M | $578.36M | $568.42M | $450.19M |
| Investing Cash Flow | ($748.06M) | ($424.34M) | ($680.66M) | ($777.63M) | ($432.18M) | ($142.82M) |
| Financing Cash Flow | $77.69M | ($207.26M) | $66.63M | $34.73M | ($232.16M) | ($41.25M) |
| CapEx | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 63.6% | 66.5% | 67.0% | 62.4% | 61.8% | 56.7% |
| EBITDA margin | 92.6% | 95.2% | 95.8% | 91.4% | 90.1% | 86.4% |
| Net margin | 42.1% | 45.7% | 47.4% | 43.3% | 39.9% | 34.6% |
| Free cash flow margin | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 5.1% | 5.1% | 5.3% | 5.4% | 6.1% | 5.8% |
| Effective tax rate | - | - | - | - | - | 0.0% |
| Return on assets | 4.2% | 4.5% | 4.5% | 4.1% | 3.7% | 3.0% |
| Return on equity | 8.8% | 9.1% | 9.4% | 8.1% | 7.4% | 5.3% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - |
| Leverage | ||||||
| Debt / Equity | 0.05 | - | - | - | - | - |
| Debt / Assets | 0.02 | - | - | - | - | - |
| Debt / EBITDA | 0.23 | - | - | - | - | - |
| Interest coverage | 2.9x | 3.1x | 3.4x | 3.3x | 3.3x | 2.9x |
| Equity multiplier | 2.13 | 2.03 | 2.08 | 1.98 | 1.99 | 1.77 |
| Liabilities / Assets | 0.53 | 0.51 | 0.52 | 0.49 | 0.50 | 0.43 |
| Efficiency | ||||||
| Asset turnover | 0.10 | 0.10 | 0.10 | 0.09 | 0.09 | 0.09 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 20.4x | 19.0x | 20.0x | 24.2x | 31.8x | 33.5x |
| P / B | 1.8x | 1.7x | 1.9x | 2.0x | 2.2x | 1.6x |
| P / S | 8.6x | 8.6x | 9.5x | 10.5x | 11.6x | 10.7x |
| EV / EBITDA | 9.5x | 9.1x | 9.9x | 11.5x | 12.6x | 11.9x |
| Growth | ||||||
| Revenue growth (YoY) | 6.6% | 5.0% | 7.1% | 6.4% | 9.9% | -1.5% |
| Revenue CAGR (3y) | 6.2% | 6.2% | 7.8% | 4.9% | 5.3% | 4.1% |
| Revenue CAGR (5y) | 7.0% | 5.3% | 5.9% | 5.7% | 6.4% | 6.5% |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | 2.0% | 4.1% | 15.0% | 7.4% | 19.9% | -10.1% |
| Net income growth (YoY) | -1.8% | 1.1% | 17.2% | 15.3% | 26.8% | -23.5% |
| EPS growth (YoY) | -3.7% | -0.5% | 14.3% | 25.2% | 23.8% | -21.8% |
| EPS CAGR (3y) | 3.1% | 12.5% | 21.0% | 6.6% | -2.9% | -5.6% |
| EPS CAGR (5y) | 11.2% | 6.6% | 5.5% | 5.4% | 1.8% | 0.3% |
| FCF growth (YoY) | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 1.1% | 4.9% | 0.8% | 5.7% | -9.7% | -0.3% |
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- -Current ratio improved
- ✗No share dilution
- -Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Real Estate Investment Trusts
Comparing NNN REIT against the 5 most active filers in the same SIC group.
Dividends
$2.40/share trailing 12 months · +3.4% YoY
| Ex-date | Per share |
|---|---|
| Apr 30, 2026 | $0.6000 |
| Jan 30, 2026 | $0.6000 |
| Oct 31, 2025 | $0.6000 |
| Jul 31, 2025 | $0.6000 |
| Apr 30, 2025 | $0.5800 |
| Jan 31, 2025 | $0.5800 |
| Oct 31, 2024 | $0.5800 |
| Jul 31, 2024 | $0.5800 |
| Apr 29, 2024 | $0.5650 |
| Jan 30, 2024 | $0.5650 |
| Oct 30, 2023 | $0.5650 |
| Jul 28, 2023 | $0.5650 |
| Apr 27, 2023 | $0.5500 |
| Jan 30, 2023 | $0.5500 |
| Oct 28, 2022 | $0.5500 |
| Jul 28, 2022 | $0.5500 |
| Apr 28, 2022 | $0.5300 |
| Jan 28, 2022 | $0.5300 |
| Oct 28, 2021 | $0.5300 |
| Jul 29, 2021 | $0.5300 |
| Apr 29, 2021 | $0.5200 |
| Jan 28, 2021 | $0.5200 |
| Oct 29, 2020 | $0.5200 |
| Jul 30, 2020 | $0.5200 |