(NNN) National Retail Properties - Ratings and Ratios
Retail Spaces, Commercial Properties, Leased Buildings
NNN EPS (Earnings per Share)
NNN Revenue
Description: NNN National Retail Properties
National Retail Properties Inc (NYSE:NNN) is a real estate investment trust (REIT) that focuses on acquiring and owning high-quality properties under long-term, net leases, thereby minimizing ongoing capital expenditures. As of March 31, 2025, NNNs portfolio comprises 3,641 properties across 50 states, spanning approximately 37.3 million square feet with a weighted average lease term of 10 years, indicating a stable income stream.
NNNs business model is centered around providing consistent returns through rental income, backed by its diversified portfolio and long-term leases. The companys commitment to dividend growth is evident in its streak of increasing annual dividends for 35 or more consecutive years, a feat achieved by only a few publicly traded REITs. This consistency is a key performance indicator (KPI) for income-focused investors.
To further evaluate NNNs performance, we can consider additional KPIs such as the Funds From Operations (FFO) margin, which is a critical metric for REITs. A stable or increasing FFO margin indicates effective cost management and operational efficiency. Another relevant metric is the debt-to-equity ratio, which assesses the companys leverage and financial health. A lower debt-to-equity ratio generally suggests a more stable financial position, enabling NNN to weather economic downturns and capitalize on growth opportunities.
NNNs dividend yield, calculated by dividing the annual dividend per share by the current stock price, is also an essential KPI for income investors. Given its history of consecutive dividend increases, NNNs dividend yield is likely to be attractive compared to other REITs and income-generating investments. As a Trading Analyst, monitoring these KPIs alongside the companys financials and market trends will be crucial in determining the optimal investment strategy.
NNN Stock Overview
| Market Cap in USD | 7,800m |
| Sub-Industry | Retail REITs |
| IPO / Inception | 1990-03-26 |
NNN Stock Ratings
| Growth Rating | 28.1% |
| Fundamental | 70.3% |
| Dividend Rating | 73.8% |
| Return 12m vs S&P 500 | -19.0% |
| Analyst Rating | 3.17 of 5 |
NNN Dividends
| Dividend Yield 12m | 5.62% |
| Yield on Cost 5y | 8.33% |
| Annual Growth 5y | 2.04% |
| Payout Consistency | 99.0% |
| Payout Ratio | 118.8% |
NNN Growth Ratios
| Growth Correlation 3m | 13.3% |
| Growth Correlation 12m | -17.2% |
| Growth Correlation 5y | 66.8% |
| CAGR 5y | 8.39% |
| CAGR/Max DD 5y | 0.33 |
| Sharpe Ratio 12m | -0.99 |
| Alpha | -11.46 |
| Beta | 0.199 |
| Volatility | 17.12% |
| Current Volume | 875.1k |
| Average Volume 20d | 1269.6k |
| Stop Loss | 40.6 (-3.2%) |
| Signal | -0.50 |
Piotroski VR‑10 (Strict, 0-10) 4.5
| Net Income (392.8m TTM) > 0 and > 6% of Revenue (6% = 53.7m TTM) |
| FCFTA 0.07 (>2.0%) and ΔFCFTA -0.08pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue -32.40% (prev 3.73%; Δ -36.13pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.07 (>3.0%) and CFO 647.0m > Net Income 392.8m (YES >=105%, WARN >=100%) |
| Net Debt (-5.97m) to EBITDA (842.7m) ratio: -0.01 <= 3.0 (WARN <= 3.5) |
| Current Ratio 0.03 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (187.1m) change vs 12m ago 2.33% (target <= -2.0% for YES) |
| Gross Margin 95.91% (prev 96.65%; Δ -0.74pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 10.01% (prev 9.78%; Δ 0.23pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 3.06 (EBITDA TTM 842.7m / Interest Expense TTM 190.4m) >= 6 (WARN >= 3) |
Altman Z'' -0.26
| (A) -0.03 = (Total Current Assets 8.47m - Total Current Liabilities 298.4m) / Total Assets 9.15b |
| (B) -0.09 = Retained Earnings (Balance) -849.2m / Total Assets 9.15b |
| (C) 0.07 = EBIT TTM 583.2m / Avg Total Assets 8.94b |
| (D) -0.18 = Book Value of Equity -854.8m / Total Liabilities 4.79b |
| Total Rating: -0.26 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 70.28
| 1. Piotroski 4.50pt = -0.50 |
| 2. FCF Yield 5.20% = 2.60 |
| 3. FCF Margin 72.32% = 7.50 |
| 4. Debt/Equity 1.06 = 1.96 |
| 5. Debt/Ebitda 5.51 = -2.50 |
| 6. ROIC - WACC 0.67% = 0.84 |
| 7. RoE 9.00% = 0.75 |
| 8. Rev. Trend 96.32% = 4.82 |
| 9. Rev. CAGR 5.95% = 0.74 |
| 10. EPS Trend 62.92% = 1.57 |
| 11. EPS CAGR 25.10% = 2.50 |
What is the price of NNN shares?
Over the past week, the price has changed by +0.77%, over one month by +1.13%, over three months by +1.81% and over the past year by -5.68%.
Is National Retail Properties a good stock to buy?
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of NNN is around 42.88 USD . This means that NNN is currently overvalued and has a potential downside of 2.24%.
Is NNN a buy, sell or hold?
- Strong Buy: 1
- Buy: 3
- Hold: 12
- Sell: 2
- Strong Sell: 0
What are the forecasts/targets for the NNN price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 44.7 | 6.5% |
| Analysts Target Price | 44 | 4.9% |
| ValueRay Target Price | 46.1 | 10% |
Last update: 2025-08-19 02:47
NNN Fundamental Data Overview
CCE Cash And Equivalents = 5.97m USD (last quarter)
P/E Trailing = 19.6762
P/E Forward = 20.4499
P/S = 8.7185
P/B = 1.7881
P/EG = 4.92
Beta = 0.926
Revenue TTM = 894.7m USD
EBIT TTM = 583.2m USD
EBITDA TTM = 842.7m USD
Long Term Debt = 4.64b USD (from longTermDebt, last quarter)
Short Term Debt = unknown (0.0)
Debt = 4.64b USD (Calculated: Short Term 0.0 + Long Term 4.64b)
Net Debt = -5.97m USD (from netDebt column, last quarter)
Enterprise Value = 12.44b USD (7.80b + Debt 4.64b - CCE 5.97m)
Interest Coverage Ratio = 3.06 (Ebit TTM 583.2m / Interest Expense TTM 190.4m)
FCF Yield = 5.20% (FCF TTM 647.0m / Enterprise Value 12.44b)
FCF Margin = 72.32% (FCF TTM 647.0m / Revenue TTM 894.7m)
Net Margin = 43.90% (Net Income TTM 392.8m / Revenue TTM 894.7m)
Gross Margin = 95.91% ((Revenue TTM 894.7m - Cost of Revenue TTM 36.6m) / Revenue TTM)
Tobins Q-Ratio = -14.55 (set to none) (Enterprise Value 12.44b / Book Value Of Equity -854.8m)
Interest Expense / Debt = 1.06% (Interest Expense 49.3m / Debt 4.64b)
Taxrate = 21.0% (US default)
NOPAT = 460.7m (EBIT 583.2m * (1 - 21.00%))
Current Ratio = 0.03 (Total Current Assets 8.47m / Total Current Liabilities 298.4m)
Debt / Equity = 1.06 (Debt 4.64b / last Quarter total Stockholder Equity 4.36b)
Debt / EBITDA = 5.51 (Net Debt -5.97m / EBITDA 842.7m)
Debt / FCF = 7.18 (Debt 4.64b / FCF TTM 647.0m)
Total Stockholder Equity = 4.36b (last 4 quarters mean)
RoA = 4.29% (Net Income 392.8m, Total Assets 9.15b )
RoE = 9.00% (Net Income TTM 392.8m / Total Stockholder Equity 4.36b)
RoCE = 6.47% (Ebit 583.2m / (Equity 4.36b + L.T.Debt 4.64b))
RoIC = 5.22% (NOPAT 460.7m / Invested Capital 8.83b)
WACC = 4.54% (E(7.80b)/V(12.45b) * Re(6.75%)) + (D(4.64b)/V(12.45b) * Rd(1.06%) * (1-Tc(0.21)))
Shares Correlation 5-Years: 100.0 | Cagr: 1.70%
Discount Rate = 6.75% (= CAPM, Blume Beta Adj.) -> floored to rf + ERP 8.05%
[DCF Debug] Terminal Value 78.84% ; FCFE base≈637.9m ; Y1≈662.9m ; Y5≈759.5m
Fair Price DCF = 70.67 (DCF Value 13.34b / Shares Outstanding 188.8m; 5y FCF grow 4.10% → 3.0% )
Revenue Correlation: 96.32 | Revenue CAGR: 5.95%
Rev Growth-of-Growth: -1.48
EPS Correlation: 62.92 | EPS CAGR: 25.10%
EPS Growth-of-Growth: -40.63
Additional Sources for NNN Stock
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Fund Manager Positions: Dataroma | Stockcircle