BNL Stock Analysis: Broadstone Net Lease | NYSE
REIT - Diversified | NYSE, USA | Market Cap: 4.389m USD | 12M Return: 52.8% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 44.2M
EPS Trend: -50.4%
Qual. Beats: 1
Rev. Trend: 55.6%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Seasonality 5.8 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 invests primarily in single-tenant commercial real estate properties leased long-term to a diversified tenant base. As of March 31, 2026, the companys portfolio consisted of 773 individual net leased commercial properties, with 766 located across 44 U.S. states and seven in four Canadian provinces, spanning industrial, retail, and other property types. The company was established on October 18, 2017, is headquartered in Victor, New York, and was incorporated in Maryland.
The net lease structure typically requires tenants to cover most property-level operating expenses, such as real estate taxes, insurance, and maintenance, which produces more predictable cash flows for landlords compared to traditional lease arrangements.
As a REIT, Broadstone Net Lease is structured to distribute the majority of its taxable income to shareholders in the form of dividends, a regulatory requirement that generally distinguishes REIT income profiles from those of standard corporate entities.
- Industrial occupancy and rent escalators drive AFFO growth
- Rising interest rates pressure cap rate spreads and valuations
- Acquisition pipeline expands industrial portfolio across U.S. markets
| Net Income: 128.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA 0.04 > 1.0 |
| NWC/Revenue: 1.06k% < 20% (prev -25.27%; Δ 1.08k% < -1%) |
| CFO/TA 0.05 > 3% & CFO 304.1m > Net Income 128.2m |
| Net Debt (-2.26b) to EBITDA (404.3m): -5.58 < 3 |
| Current Ratio: 304.9 > 1.5 & < 3 |
| Outstanding Shares: last quarter (199.8m) vs 12m ago 1.45% < -2% |
| Gross Margin: 24.08% > 18% (prev 22.89%; Δ 1.19% > 0.5%) |
| Asset Turnover: 8.46% > 50% (prev 8.43%; Δ 0.03% > 0%) |
| Interest Coverage Ratio: 2.39 > 6 (EBIT TTM 238.1m / Interest Expense TTM 99.7m) |
| A: 0.85 (Total Current Assets 4.98b - Total Current Liabilities 16.3m) / Total Assets 5.85b |
| B: -0.11 (Retained Earnings -631.0m / Total Assets 5.85b) |
| C: 0.04 (EBIT TTM 238.1m / Avg Total Assets 5.54b) |
| D: 1.02 (Book Value of Equity 2.89b / Total Liabilities 2.82b) |
| Altman-Z'' = 6.59 = AAA |
| DSRI: 0.10 (Receivables 3.63m/169.0m, Revenue 468.8m/441.4m) |
| GMI: 0.95 (GM 22.89% / 24.08%) |
| AQI: -5.28 (AQ_t -0.68 / AQ_t-1 0.13) |
| SGI: 1.06 (Revenue 468.8m / 441.4m) |
| TATA: -0.03 (NI 128.2m - CFO 304.1m) / TA 5.85b) |
| Beneish M = -7.50 (Cap -4..+1) = AAA |
As of July 17, 2026, the stock is trading at USD 22.79 with a total of 1,613,166 shares traded. Over the past week, the price has changed by +5.46%, over one month by +10.36%, over three months by +15.55% and over the past year by +52.83%.
Current recommended Stop Loss: 22.20 (which is 2.6% or 1.5 ATR below the current price).
Broadstone Net Lease has received a consensus analysts rating of 3.55. Therefore, it is recommended to hold BNL.
- StrongBuy: 2
- Buy: 3
- Hold: 5
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 22.9 | 0.5% |
P/E Trailing = 33.7539
P/E Forward = 29.0698
P/S = 9.4021
P/B = 1.4473
Revenue TTM = 468.8m USD
EBIT TTM = 238.1m USD
EBITDA TTM = 404.3m USD
Long Term Debt = 2.24b USD (from longTermDebt, last quarter)
Short Term Debt = 16.3m USD (from shortTermDebt, last quarter)
Debt = 2.72b USD (from shortLongTermDebtTotal, last quarter) + Leases 43.1m
Net Debt = -2.26b USD (calculated: Debt 2.72b - CCE 4.98b)
Enterprise Value = 2.13b USD (4.39b + Debt 2.72b - CCE 4.98b)
Interest Coverage Ratio = 2.39 (Ebit TTM 238.1m / Interest Expense TTM 99.7m)
EV/FCF = 7.53x (Enterprise Value 2.13b / FCF TTM 283.3m)
FCF Yield = 13.28% (FCF TTM 283.3m / Enterprise Value 2.13b)
FCF Margin = 60.44% (FCF TTM 283.3m / Revenue TTM 468.8m)
Net Margin = 27.36% (Net Income TTM 128.2m / Revenue TTM 468.8m)
Gross Margin = 24.08% ((Revenue TTM 468.8m - Cost of Revenue TTM 355.9m) / Revenue TTM)
Gross Margin QoQ = 26.50% (prev 24.77%)
Tobins Q-Ratio = 0.36 (Enterprise Value 2.13b / Total Assets 5.85b)
Interest Expense / Debt = 3.66% (Interest Expense 99.7m / Debt 2.72b)
Taxrate = 0.84% (1.11m / 131.6m)
NOPAT = 236.1m (EBIT 238.1m * (1 - 0.84%))
Current Ratio = 63.81 (Total Current Assets 4.98b / Total Current Liabilities 78.1m)
Debt / Equity = 0.94 (Debt 2.72b / totalStockholderEquity, last quarter 2.89b)
Debt / EBITDA = -5.58 (Net Debt -2.26b / EBITDA 404.3m)
Debt / FCF = -7.96 (Net Debt -2.26b / FCF TTM 283.3m)
Total Stockholder Equity = 2.90b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.31% (Net Income 128.2m / Total Assets 5.85b)
RoE = 4.43% (Net Income TTM 128.2m / Total Stockholder Equity 2.90b)
RoCE = 4.63% (EBIT 238.1m / Capital Employed (Equity 2.90b + L.T.Debt 2.24b))
RoIC = 4.06% (NOPAT 236.1m / Invested Capital 5.82b)
WACC = 5.01% (E(4.39b)/V(7.11b) * Re(5.86%) + D(2.72b)/V(7.11b) * Rd(3.66%) * (1-Tc(0.01)))
Discount Rate = 5.86% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 84.09 | Cagr: 0.76%
[DCF] Terminal Value 76.93% ; FCFF base≈270.7m ; Y1≈299.8m ; Y5≈386.3m
[DCF] Fair Price = 42.49 (EV 5.89b - Net Debt -2.26b = Equity 8.15b / Shares 191.8m; r=8.35% [WACC [floored]]; 5y FCF grow 12.47% → 2.50% )
EPS Correlation: -50.38 | EPS CAGR: -11.96% | SUE: 1.14 | # QB: 1
Revenue Correlation: 55.63 | Revenue CAGR: 1.38% | SUE: 0.64 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.19 | Chg30d=+0.87% | Revisions=+50% | Analysts=6
EPS next Quarter (2026-09-30): EPS=0.19 | Chg30d=+2.33% | Revisions=+0% | Analysts=6
EPS current Year (2026-12-31): EPS=0.80 | Chg30d=+5.82% | Revisions=+25% | GrowthEPS=+43.6% | GrowthRev=+9.2%
EPS next Year (2027-12-31): EPS=0.81 | Chg30d=-0.39% | Revisions=+40% | GrowthEPS=+1.7% | GrowthRev=+8.2%
[Analyst] Revisions Ratio: +67% (up=6, down=0)