BNL Stock Analysis: Broadstone Net Lease | NYSE
REIT - Diversified | NYSE, USA | Market Cap: 3.832m USD | 12M Return: 4.5% | US11135E2037 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 36.1M
EPS Trend: -11.1%
Qual. Beats: 0
Rev. Trend: 71.0%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Broadstone Net Lease, Inc. (NYSE: BNL) is an industrial-focused, diversified net lease REIT that primarily invests in single-tenant commercial real estate properties leased on a long-term, triple-net basis to a diversified tenant base. As of June 30, 2026, the companys portfolio consisted of 766 individual net leased commercial properties across 44 U.S. states and four Canadian provinces, spanning industrial, retail, and other property types. BNLs investment approach is supported by fundamental credit analysis and disciplined real estate underwriting. The company was established on October 18, 2017, is incorporated in Maryland, and is headquartered in Victor, New York.
As a net lease REIT, BNLs business model typically requires tenants to cover most property operating expenses-including taxes, insurance, and maintenance-providing the landlord with more predictable, contracted rental income and lower ongoing property management obligations compared to traditional real estate operators. Within the Diversified REITs sub-industry, BNL distinguishes itself through its industrial emphasis and geographic spread across North America, which can help mitigate concentration risk across both tenants and regions.
- Industrial tenant credit quality drives rent collection stability
- Interest rate cuts pressure net lease REIT valuations and cap rates
- Acquisition pipeline expands industrial portfolio across US and Canada
| Net Income: 144.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA 0.84 > 1.0 |
| NWC/Revenue: 0.20% < 20% (prev -28.06%; Δ 28.27% < -1%) |
| CFO/TA 0.05 > 3% & CFO 283.0m > Net Income 144.4m |
| Net Debt (2.76b) to EBITDA (423.6m): 6.51 < 3 |
| Current Ratio: 1.06 > 1.5 & < 3 |
| Outstanding Shares: last quarter (200.3m) vs 12m ago 1.67% < -2% |
| Gross Margin: 43.19% > 18% (prev 21.70%; Δ 21.49% > 0.5%) |
| Asset Turnover: 8.54% > 50% (prev 8.40%; Δ 0.14% > 0%) |
| Interest Coverage Ratio: 2.45 > 6 (EBIT TTM 255.2m / Interest Expense TTM 104.3m) |
| A: 0.00 (Total Current Assets 17.3m - Total Current Liabilities 16.3m) / Total Assets 5.87b |
| B: -0.11 (Retained Earnings -648.7m / Total Assets 5.87b) |
| C: 0.05 (EBIT TTM 255.2m / Avg Total Assets 5.60b) |
| D: 1.01 (Book Value of Equity 2.88b / Total Liabilities 2.86b) |
| Altman-Z'' = 1.01 = BB |
| DSRI: 0.10 (Receivables 6.22m/175.9m, Revenue 478.0m/447.5m) |
| GMI: 0.50 (GM 21.70% / 43.19%) |
| AQI: 7.99 (AQ_t 1.00 / AQ_t-1 0.12) |
| SGI: 1.07 (Revenue 478.0m / 447.5m) |
| TATA: -0.02 (NI 144.4m - CFO 283.0m) / TA 5.87b) |
| Beneish M = -0.03 (Cap -4..+1) = D |
As of October 16, 2026, the stock is trading at USD 18.15 with a total of 3,028,605 shares traded. Over the past week, the price has changed by -0.49%, over one month by -7.68%, over three months by -15.51% and over the past year by +4.51%.
Current recommended Stop Loss: 17.60 (which is 3% or 1.4 ATR below the current price).
Broadstone Net Lease has received a consensus analysts rating of 4.36. Therefore, it is recommended to buy BNL.
- StrongBuy: 7
- Buy: 1
- Hold: 3
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 23.6 | 30% |
P/E Trailing = 24.0
P/E Forward = 24.6305
P/S = 8.0478
P/B = 1.2599
Revenue TTM = 478.0m USD
EBIT TTM = 255.2m USD
EBITDA TTM = 423.6m USD
Long Term Debt = 2.23b USD (from longTermDebt, last quarter)
Short Term Debt = 766k USD (from shortTermDebt, last quarter)
Debt = 2.77b USD (from shortLongTermDebtTotal, last quarter) + Leases 43.1m
Net Debt = 2.76b USD (calculated: Debt 2.77b - CCE 11.1m)
Enterprise Value = 6.59b USD (3.83b + Debt 2.77b - CCE 11.1m)
Interest Coverage Ratio = 2.45 (Ebit TTM 255.2m / Interest Expense TTM 104.3m)
EV/FCF = 21.12x (Enterprise Value 6.59b / FCF TTM 312.1m)
FCF Yield = 4.74% (FCF TTM 312.1m / Enterprise Value 6.59b)
FCF Margin = 65.28% (FCF TTM 312.1m / Revenue TTM 478.0m)
Net Margin = 30.22% (Net Income TTM 144.4m / Revenue TTM 478.0m)
Gross Margin = 43.19% ((Revenue TTM 478.0m - Cost of Revenue TTM 271.6m) / Revenue TTM)
Gross Margin QoQ = none% (prev 26.50%)
Tobins Q-Ratio = 1.12 (Enterprise Value 6.59b / Total Assets 5.87b)
Interest Expense / Debt = 3.77% (Interest Expense 104.3m / Debt 2.77b)
Taxrate = 0.85% (1.26m / 148.7m)
NOPAT = 253.1m (EBIT 255.2m * (1 - 0.85%))
Current Ratio = 0.19 (Total Current Assets 17.3m / Total Current Liabilities 88.8m)
Debt / Equity = 0.96 (Debt 2.77b / totalStockholderEquity, last quarter 2.88b)
Debt / EBITDA = 6.51 (Net Debt 2.76b / EBITDA 423.6m)
Debt / FCF = 8.84 (Net Debt 2.76b / FCF TTM 312.1m)
Total Stockholder Equity = 2.89b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.58% (Net Income 144.4m / Total Assets 5.87b)
RoE = 5.00% (Net Income TTM 144.4m / Total Stockholder Equity 2.89b)
RoCE = 4.99% (EBIT 255.2m / Capital Employed (Equity 2.89b + L.T.Debt 2.23b))
RoIC = 4.32% (NOPAT 253.1m / Invested Capital 5.85b)
WACC = 4.75% (E(3.83b)/V(6.60b) * Re(5.48%) + D(2.77b)/V(6.60b) * Rd(3.77%) * (1-Tc(0.01)))
Discount Rate = 5.48% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 88.32 | Cagr: 0.87%
[DCF] Terminal Value 77.97% ; FCFF base≈282.7m ; Y1≈324.1m ; Y5≈477.0m
[DCF] Fair Price = 21.60 (EV 7.18b - Net Debt 2.76b = Equity 4.42b / Shares 204.6m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: -11.13 | EPS CAGR: -3.17% | SUE: 0.39 | # QB: 0
Revenue Correlation: 71.01 | Revenue CAGR: 2.35% | SUE: 0.13 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.16 | Chg30d=-7.31% | Revisions=-40% | Analysts=5
EPS current Year (2026-12-31): EPS=0.74 | Chg30d=-0.16% | Revisions=+0% | GrowthEPS=+33.1% | GrowthRev=+8.1%
EPS next Year (2027-12-31): EPS=0.69 | Chg30d=-13.22% | Revisions=+0% | GrowthEPS=-7.0% | GrowthRev=+9.6%
[Analyst] Revisions Ratio: -22% (up=2, down=4)