NNN Stock Analysis: NNN REIT | NYSE
REIT - Retail | NYSE, USA | Market Cap: 7.973m USD | 12M Return: 3% | US6374171063 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 104M
EPS Trend: 12.6%
Qual. Beats: 1
Rev. Trend: 99.7%
Qual. Beats: 1
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 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.
NNN REIT, Inc. is a publicly traded real estate investment trust (REIT) that focuses on acquiring high-quality properties typically subject to long-term, net leases that require minimal ongoing capital expenditures from the landlord. As of June 30, 2026, the companys portfolio consisted of 3,774 properties located across 50 states, the District of Columbia, and Puerto Rico, totaling approximately 40.4 million square feet of gross leasable area with a weighted average remaining lease term of 10.1 years. NNN REIT was incorporated in August 1984 in Maryland and is headquartered in Orlando, Florida.
Net-lease REITs like NNN shift most property-level expenses, such as taxes, insurance, and maintenance, to the tenant in exchange for lower base rent, resulting in predictable, contractually defined income streams. The retail REIT segment specifically focuses on freestanding, single-tenant properties that are often essential-use businesses, such as convenience stores, quick-service restaurants, and auto service centers, which tend to exhibit resilient demand across economic cycles.
- Fed rate cuts lower borrowing costs for acquisitions
- Occupancy rates hold above 99% supporting contractual rent escalations
- Consecutive annual dividend hikes attract income-focused investors
| Net Income: 384.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA -4.54 > 1.0 |
| NWC/Revenue: -2.38% < 20% (prev -26.67%; Δ 24.29% < -1%) |
| CFO/TA 0.07 > 3% & CFO 673.0m > Net Income 384.7m |
| Net Debt (5.00b) to EBITDA (874.3m): 5.72 < 3 |
| Current Ratio: 0.66 > 1.5 & < 3 |
| Outstanding Shares: last quarter (189.6m) vs 12m ago 1.36% < -2% |
| Gross Margin: 81.78% > 18% (prev 95.91%; Δ -14.13% > 0.5%) |
| Asset Turnover: 10.17% > 50% (prev 9.78%; Δ 0.39% > 0%) |
| Interest Coverage Ratio: 2.81 > 6 (EBIT TTM 597.0m / Interest Expense TTM 212.4m) |
| A: -0.00 (Total Current Assets 43.8m - Total Current Liabilities 66.5m) / Total Assets 9.61b |
| B: -0.10 (Retained Earnings -918.0m / Total Assets 9.61b) |
| C: 0.06 (EBIT TTM 597.0m / Avg Total Assets 9.38b) |
| D: 0.87 (Book Value of Equity 4.46b / Total Liabilities 5.15b) |
| Altman-Z'' = 1.01 = BB |
| DSRI: 1.03 (Receivables 39.5m/36.1m, Revenue 953.2m/894.7m) |
| GMI: 1.17 (GM 95.91% / 81.78%) |
| AQI: -1.04 (AQ_t 0.01 / AQ_t-1 -0.01) |
| SGI: 1.07 (Revenue 953.2m / 894.7m) |
| TATA: -0.03 (NI 384.7m - CFO 673.0m) / TA 9.61b) |
| Beneish M = -4.01 (Cap -4..+1) = AAA |
As of October 21, 2026, the stock is trading at USD 41.59 with a total of 2,827,580 shares traded. Over the past week, the price has changed by +2.69%, over one month by -0.10%, over three months by -13.87% and over the past year by +3.00%.
Current recommended Stop Loss: 40.50 (which is 2.6% or 1.4 ATR below the current price).
NNN REIT has received a consensus analysts rating of 3.11. Therefore, it is recommended to hold NNN.
- StrongBuy: 2
- Buy: 1
- Hold: 12
- Sell: 3
- StrongSell: 0
| Analysts Target Price | 46.8 | 12.4% |
P/E Trailing = 20.5644
P/E Forward = 20.4082
P/S = 8.3639
P/B = 1.7783
P/EG = 4.7946
Revenue TTM = 953.2m USD
EBIT TTM = 597.0m USD
EBITDA TTM = 874.3m USD
Long Term Debt = 4.97b USD (from longTermDebt, last quarter)
Short Term Debt = 28.5m USD (from shortTermDebt, last quarter)
Debt = 5.00b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 5.00b USD (calculated: Debt 5.00b - CCE 4.22m)
Enterprise Value = 13.0b USD (7.97b + Debt 5.00b - CCE 4.22m)
Interest Coverage Ratio = 2.81 (Ebit TTM 597.0m / Interest Expense TTM 212.4m)
EV/FCF = 53.23x (Enterprise Value 13.0b / FCF TTM 243.7m)
FCF Yield = 1.88% (FCF TTM 243.7m / Enterprise Value 13.0b)
FCF Margin = 25.56% (FCF TTM 243.7m / Revenue TTM 953.2m)
Net Margin = 40.35% (Net Income TTM 384.7m / Revenue TTM 953.2m)
Gross Margin = 81.78% ((Revenue TTM 953.2m - Cost of Revenue TTM 173.7m) / Revenue TTM)
Gross Margin QoQ = none% (prev none%)
Tobins Q-Ratio = 1.35 (Enterprise Value 13.0b / Total Assets 9.61b)
Interest Expense / Debt = 4.25% (Interest Expense 212.4m / Debt 5.00b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 471.7m (EBIT 597.0m * (1 - 21.00%))
Current Ratio = 0.66 (Total Current Assets 43.8m / Total Current Liabilities 66.5m)
Debt / Equity = 1.12 (Debt 5.00b / totalStockholderEquity, last quarter 4.46b)
Debt / EBITDA = 5.72 (Net Debt 5.00b / EBITDA 874.3m)
Debt / FCF = 20.51 (Net Debt 5.00b / FCF TTM 243.7m)
Total Stockholder Equity = 4.42b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.10% (Net Income 384.7m / Total Assets 9.61b)
RoE = 8.70% (Net Income TTM 384.7m / Total Stockholder Equity 4.42b)
RoCE = 6.36% (EBIT 597.0m / Capital Employed (Equity 4.42b + L.T.Debt 4.97b))
RoIC = 4.93% (NOPAT 471.7m / Invested Capital 9.56b)
WACC = 4.44% (E(7.97b)/V(13.0b) * Re(5.12%) + D(5.00b)/V(13.0b) * Rd(4.25%) * (1-Tc(0.21)))
Discount Rate = 5.12% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 96.04 | Cagr: 1.79%
[DCF] Terminal Value 73.10% ; FCFF base≈405.0m ; Y1≈355.2m ; Y5≈287.0m
[DCF] Fair Price = N/A (negative equity: EV 4.61b - Net Debt 5.00b = -391.0m; debt exceeds intrinsic value)
EPS Correlation: 12.64 | EPS CAGR: 0.79% | SUE: 1.64 | # QB: 1
Revenue Correlation: 99.66 | Revenue CAGR: 5.73% | SUE: 0.90 | # QB: 1
EPS current Quarter (2026-09-30): EPS=0.52 | Chg30d=-0.17% | Revisions=+40% | Analysts=5
EPS current Year (2026-12-31): EPS=2.06 | Chg30d=+0.16% | Revisions=+25% | GrowthEPS=+3.6% | GrowthRev=+5.7%
EPS next Year (2027-12-31): EPS=2.10 | Chg30d=-0.91% | Revisions=+0% | GrowthEPS=+1.8% | GrowthRev=+5.6%
[Analyst] Revisions Ratio: +38% (up=4, down=1)