Broadstone Net Lease (BNL) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Broadstone Net Lease

NYSE•Real Estate•REIT - Diversified

$19.42-0.55(-0.03%)Pre-market

Market Cap

$3.70B

P/E

29.3x

P/S

7.9x

P/B

1.3x

Broadstone Net Lease, Inc. is an industrial-focused, diversified net lease REIT that invests in primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. Utilizing an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting, as of June 30, 2026, BNL's diversified portfolio consisted of 766 individual net leased commercial properties with 759 properties located in 44 U.S. states and seven properties located in four Canadian provinces across the industrial, retail, and other property types. Broadstone Net Lease, Inc. was established and incorporated on October 18th, 2017, in Maryland and is based in Victor, New York.

How this company scores

AverageMetricSide Score: 48/100

Strongest: Profitability (19/25); weakest: Cash & Earnings Quality (1/25).

Profitability19/25

Growth18/25

Balance Sheet & Red Flags10/25

Cash & Earnings Quality1/25

Strengths

Strong marginsProfit converts from growthConsistent growthImproving margins

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 29.3x5y range 14.5x – 49.7x

Currently near its 20-quarter median.

P/S · 7.9x5y range 5.9x – 10.7x

Currently near its 20-quarter median.

P/B · 1.3x5y range 0.9x – 1.6x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Earnings Quality

Red Flag

Free cash flow has been negative in 7 of the last 8 quarters — earnings are not translating to cash.

Leverage Risk

Watch

Debt-to-equity has risen 35.3% recently — increasing financial risk even if the current ratio is manageable.

Price & Volume

Market Cap $3.70B

Metrics at a Glance

as of March 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $466.85M
Q. Revenue: $121.40M
TTM EBITDA: $380.02M
TTM Op. Income: $213.91M
Q. Op. Income: $63.35M
TTM Net Income: $126.12M
Q. Net Income: $46.37M
EPS: $0.24
Shares Out.: $190.44M

$466.85M in TTM revenue grew 7.3% YoY, reaching $121.40M last quarter. TTM EBITDA of $380.02M and TTM operating income of $213.91M show growth is flowing through to the bottom line. TTM net income of $126.12M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 6 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 86.4%
Op. Margin: 52.2%
Net Margin: 38.2%

Op. margin of 52.2% is up 17.3% YoY — cost efficiency is improving. Net margin at 38.2% Across the last 8 quarters, operating margin has risen for 5 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 29.3x
P/S Ratio: 7.9x
P/B Ratio: 1.3x

At 29.3x P/E, the stock trades within typical market levels. P/S of 7.9x and P/B of 1.3x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has fallen for 2 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $5.85B
Cash: $20.31M
Long-Term Debt: $2.65B
Book Value: $2.89B
D/E Ratio: 0.9
Debt/EBITDA: 25.3

With $5.85B in assets and $2.65B in long-term debt, D/E is 0.9and book value is $2.89B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has risen for 5 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $76.09M
TTM Free Cash Flow: $-742.08M
FCF Margin: -159.0%
FCF / Net Income: -5.9

TTM FCF of $-742.08M on $76.09M in operating cash flow. The FCF / Net Income ratio of -5.9x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has fallen for 3 consecutive quarters — a weakening trend.