Overview Dividends

(BNL) Broadstone Net Lease - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US11135E2037

Industrial, Retail, Warehouse, Manufacturing, Distribution

Diversified REITs
Market Cap in USD: 3,460m

IPO / Inception: 2020-09-17
Return 12m vs S&P 500: 1.31%

EPS (Earnings per Share)

EPS CAGR: -7.82%
EPS Trend: -27.3%

Last SUE: -0.28
Qual. Beats: 0

Revenue

Rev. CAGR: 5.73%
Rev. Trend: 66.3%

Last SUE: 0.71
Qual. Beats: 0

Dividends

Dividend Yield	8.28%
Yield on Cost 5y	10.27%
Yield CAGR 5y	-6.89%
Payout Consistency	93.9%
Payout Ratio	2.5%

Risk via 5d forecast
Volatility	20.7%
Value at Risk 5%th	32.9%
Relative Tail Risk	-3.39%

Reward TTM
Sharpe Ratio	0.62
Alpha	3.56
CAGR/Max DD	0.43

Character TTM
Hurst Exponent	0.407
Beta	0.424
Beta Downside	0.520

Drawdowns 3y
Max DD	20.90%
Mean DD	8.55%
Median DD	9.12%

Description: BNL Broadstone Net Lease November 08, 2025

Broadstone Net Lease Inc. (NYSE: BNL) is a diversified, industrial-focused net-lease REIT that acquires single-tenant commercial properties under long-term net leases. As of June 30 2025 the portfolio comprised 766 properties-759 in 44 U.S. states and seven in four Canadian provinces-spanning industrial, retail, and other asset classes.

Key operating metrics that investors track include an occupancy-adjusted weighted-average lease term of roughly 10 years, an FFO (funds-from-operations) growth rate of 5-6 % YoY over the past three years, and a portfolio-wide weighted-average credit rating of BBB-. The REIT’s performance is closely tied to macro-drivers such as U.S. industrial demand (bolstered by e-commerce fulfillment needs) and the trajectory of interest rates, which affect both acquisition financing costs and the relative attractiveness of net-lease yields versus Treasury yields.

For a deeper quantitative view, you may find ValueRay’s detailed FFO and NAV projections useful.

Piotroski VR‑10 (Strict, 0-10) 3.0

Net Income (89.8m TTM) > 0 and > 6% of Revenue (6% = 26.9m TTM)

FCFTA 0.05 (>2.0%) and ΔFCFTA -0.15pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 9.10% (prev -16.68%; Δ 25.78pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.05 (>3.0%) and CFO 278.8m > Net Income 89.8m (YES >=105%, WARN >=100%)

Net Debt (2.30b) to EBITDA (362.3m) ratio: 6.35 <= 3.0 (WARN <= 3.5)

Current Ratio 1.19 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (197.6m) change vs 12m ago 0.36% (target <= -2.0% for YES)

Gross Margin 94.76% (prev 85.59%; Δ 9.18pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 8.31% (prev 8.14%; Δ 0.17pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 2.21 (EBITDA TTM 362.3m / Interest Expense TTM 89.0m) >= 6 (WARN >= 3)

Altman Z'' -0.30

(A) 0.01 = (Total Current Assets 260.4m - Total Current Liabilities 219.6m) / Total Assets 5.52b

(B) -0.11 = Retained Earnings (Balance) -597.6m / Total Assets 5.52b

(D) -0.23 = Book Value of Equity -578.4m / Total Liabilities 2.51b

Total Rating: -0.30 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 59.85

1. Piotroski 3.0pt

2. FCF Yield 4.33%

3. FCF Margin 55.64%

4. Debt/Equity 0.83

5. Debt/Ebitda 6.35

6. ROIC - WACC (= -1.08)%

7. RoE 3.06%

8. Rev. Trend 66.32%

9. EPS Trend -27.34%

What is the price of BNL shares?

As of December 23, 2025, the stock is trading at USD 17.52 with a total of 1,764,912 shares traded.
Over the past week, the price has changed by -1.79%, over one month by -4.26%, over three months by -2.58% and over the past year by +17.30%.

Is BNL a buy, sell or hold?

Broadstone Net Lease has received a consensus analysts rating of 3.55. Therefor, it is recommend to hold BNL.

Strong Buy: 2
Buy: 3
Hold: 5
Sell: 1
Strong Sell: 0

What are the forecasts/targets for the BNL price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	20.2	15.2%
Analysts Target Price	20.2	15.2%
ValueRay Target Price	19.3	10.2%

BNL Fundamental Data Overview December 19, 2025

Market Cap USD = 3.46b (3.46b USD * 1.0 USD.USD)
P/E Trailing = 37.2553
P/E Forward = 25.9067
P/S = 7.7243
P/B = 1.1486
Beta = 1.05
Revenue TTM = 448.0m USD
EBIT TTM = 197.0m USD
EBITDA TTM = 362.3m USD
Long Term Debt = 2.24b USD (from longTermDebt, last quarter)
Short Term Debt = 95.8m USD (from shortTermDebt, last quarter)
Debt = 2.38b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.30b USD (from netDebt column, last quarter)
Enterprise Value = 5.76b USD (3.46b + Debt 2.38b - CCE 82.0m)
Interest Coverage Ratio = 2.21 (Ebit TTM 197.0m / Interest Expense TTM 89.0m)
FCF Yield = 4.33% (FCF TTM 249.3m / Enterprise Value 5.76b)
FCF Margin = 55.64% (FCF TTM 249.3m / Revenue TTM 448.0m)
Net Margin = 20.04% (Net Income TTM 89.8m / Revenue TTM 448.0m)
Gross Margin = 94.76% ((Revenue TTM 448.0m - Cost of Revenue TTM 23.5m) / Revenue TTM)
Gross Margin QoQ = 94.57% (prev 95.57%)
Tobins Q-Ratio = 1.04 (Enterprise Value 5.76b / Total Assets 5.52b)
Interest Expense / Debt = 1.19% (Interest Expense 28.2m / Debt 2.38b)
Taxrate = 0.76% (208.0k / 27.3m)
NOPAT = 195.5m (EBIT 197.0m * (1 - 0.76%))
Current Ratio = 1.19 (Total Current Assets 260.4m / Total Current Liabilities 219.6m)
Debt / Equity = 0.83 (Debt 2.38b / totalStockholderEquity, last quarter 2.88b)
Debt / EBITDA = 6.35 (Net Debt 2.30b / EBITDA 362.3m)
Debt / FCF = 9.22 (Net Debt 2.30b / FCF TTM 249.3m)
Total Stockholder Equity = 2.94b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.63% (Net Income 89.8m / Total Assets 5.52b)
RoE = 3.06% (Net Income TTM 89.8m / Total Stockholder Equity 2.94b)
RoCE = 3.80% (EBIT 197.0m / Capital Employed (Equity 2.94b + L.T.Debt 2.24b))
RoIC = 3.89% (NOPAT 195.5m / Invested Capital 5.02b)
WACC = 4.97% (E(3.46b)/V(5.84b) * Re(7.58%) + D(2.38b)/V(5.84b) * Rd(1.19%) * (1-Tc(0.01)))
Discount Rate = 7.58% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: 100.0 | Cagr: 0.32%
[DCF Debug] Terminal Value 78.45% ; FCFE base≈247.9m ; Y1≈250.7m ; Y5≈272.1m
Fair Price DCF = 25.38 (DCF Value 4.80b / Shares Outstanding 189.2m; 5y FCF grow 0.77% → 3.0% )
EPS Correlation: -27.34 | EPS CAGR: -7.82% | SUE: -0.28 | # QB: 0
Revenue Correlation: 66.32 | Revenue CAGR: 5.73% | SUE: 0.71 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.17 | Chg30d=+0.003 | Revisions Net=+1 | Analysts=3
EPS next Year (2026-12-31): EPS=0.71 | Chg30d=-0.011 | Revisions Net=-1 | Growth EPS=+18.3% | Growth Revenue=+8.0%

Additional Sources for BNL Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle