(BNL) Broadstone Net Lease - Overview
Sector: Real Estate | Industry: REIT - Diversified | Exchange: NYSE (USA) | Market Cap: 4.085m USD | Total Return: 35% in 12m
Avg Turnover: 32.0M
EPS Trend: -77.1%
Qual. Beats: 1
Rev. Trend: 55.6%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Idiosyncratic Leader, Confidence
Broadstone Net Lease, Inc. (BNL) is a Maryland-incorporated real estate investment trust that specializes in acquiring and managing a diversified portfolio of single-tenant commercial properties. The company focuses primarily on the industrial and retail sectors, utilizing a long-term net lease structure where tenants are responsible for most operating expenses, including taxes, insurance, and maintenance.
The business model targets credit-worthy tenants who view their physical locations as essential to their core operations. By entering into sale-leaseback transactions, these tenants unlock capital tied up in real estate to reinvest in business growth while maintaining long-term operational control of the premises. Industrial REITs often benefit from high tenant retention rates due to the significant costs associated with relocating specialized equipment or logistics hubs.
Investors can further evaluate the companys valuation metrics and dividend sustainability by reviewing the detailed financial breakdowns available on ValueRay. Broadstone Net Lease continues to scale its portfolio by selecting properties in industries with positive long-term economic drivers.
- Industrial asset concentration drives rental income growth and property valuation premiums
- Interest rate fluctuations impact cost of capital and acquisition cap rate spreads
- Portfolio diversification across retail and healthcare sectors mitigates tenant default risk
- Long term triple net lease structures provide predictable cash flow stability
- Strategic disposition of non-core office assets improves overall portfolio quality metrics
| 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 0.23%; Δ 2.38k% > 0.5%) |
| Asset Turnover: 8.46% > 50% (prev 8.43%; Δ 0.03% > 0%) |
| Interest Coverage Ratio: 2.39 > 6 (EBITDA TTM 404.3m / 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: -0.22 (Book Value of Equity -610.0m / Total Liabilities 2.82b) |
| Altman-Z'' = 5.28 = AAA |
| DSRI: 0.02 (Receivables 3.63m/169.0m, Revenue 468.8m/441.4m) |
| GMI: 0.95 (GM 24.08% / 22.89%) |
| 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 = -7.59 (Cap -4..+1) = AAA |
As of June 01, 2026, the stock is trading at USD 20.23 with a total of 682,898 shares traded.
Over the past week, the price has changed by -0.88%,
over one month by +2.17%,
over three months by +6.39% and
over the past year by +35.04%.
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 | 21.6 | 7% |
P/E Trailing = 31.4154
P/E Forward = 29.0698
P/S = 8.7422
P/B = 1.3525
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 = 1.83b USD (4.09b + Debt 2.72b - CCE 4.98b)
Interest Coverage Ratio = 2.39 (Ebit TTM 238.1m / Interest Expense TTM 99.7m)
EV/FCF = 6.46x (Enterprise Value 1.83b / FCF TTM 283.3m)
FCF Yield = 15.49% (FCF TTM 283.3m / Enterprise Value 1.83b)
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 = 0.31 (Enterprise Value 1.83b / Total Assets 5.85b)
Interest Expense / Debt = 3.66% (Interest Expense 99.7m / Debt 2.72b)
Taxrate = 0.67% (311k / 46.7m)
NOPAT = 236.6m (EBIT 238.1m * (1 - 0.67%))
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 = 3.64% (Net Income TTM 128.2m / Total Stockholder Equity 3.53b)
RoCE = 4.13% (EBIT 238.1m / Capital Employed (Equity 3.53b + L.T.Debt 2.24b))
RoIC = 4.05% (NOPAT 236.6m / Invested Capital 5.85b)
WACC = 5.12% (E(4.09b)/V(6.81b) * Re(6.11%) + D(2.72b)/V(6.81b) * Rd(3.66%) * (1-Tc(0.01)))
Discount Rate = 6.11% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 91.11 | 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: -77.12 | EPS CAGR: -17.95% | SUE: 1.11 | # QB: 1
Revenue Correlation: 55.63 | Revenue CAGR: 1.38% | SUE: 0.64 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.18 | Chg30d=+4.37% | Revisions=N/A | Analysts=4
EPS next Quarter (2026-09-30): EPS=0.18 | Chg30d=+4.06% | Revisions=N/A | Analysts=4
EPS current Year (2026-12-31): EPS=0.74 | Chg30d=+3.08% | Revisions=+20% | GrowthEPS=+33.0% | GrowthRev=+8.1%
EPS next Year (2027-12-31): EPS=0.79 | Chg30d=+3.00% | Revisions=+33% | GrowthEPS=+6.3% | GrowthRev=+7.6%
[Analyst] Revisions Ratio: +33%