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BNL Financials Broadstone Net Lease, Inc.

11 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →

Growth & profitability

  • Revenue has grown 7.1% per year over the past 5 years.
  • Net income has grown faster than revenue (13.5% vs 7.1% per year).
  • Free cash flow has grown 9.9% per year over the past 5 years.

Financial health

  • Total debt ($2.5B) exceeds cash ($31M); net debt is $2.5B.
  • Total debt has grown faster than revenue (10.3% vs 7.1% per year).

Shareholder returns

  • Dividends have been paid for 11 consecutive years, consuming 226.7% of earnings and 81.1% of free cash flow.
  • The dividend has grown 25.1% per year over the past 5 years.
Revenue & net income
$0 $227M $454M 2015 2017 2019 2021 2023 2025
RevenueNet income
Margins (gross / operating / net)
0% 23% 47% 2015 2017 2019 2021 2023 2025
GrossOperatingNet
Return on equity & assets (ROE / ROA)
0% 3% 5% 2015 2017 2019 2021 2023 2025
ROEROA
Free cash flow (CFO − capex)
$0 $135M $270M 2015 2017 2019 2021 2023 2025
Free cash flow
Cash vs total debt
$0 $1B $3B 2015 2017 2019 2021 2023 2025
CashTotal debt
Cash flow: operating / investing / financing
-$860M -$87M $686M $0 2015 2017 2019 2021 2023 2025
OperatingInvestingFinancing

Key annual figures

FYRevenueNet incomeGross MOp MROEROAFCFTotal debtCash
2025 $454M $96M 0.0% 0.0% 3.3% 1.7% $270M $2.5B $31M
2024 $432M $162M 0.0% 0.0% 5.4% 3.1% $259M $1.9B $15M
2023 $443M $155M 0.0% 0.0% 5.1% 3.0% $225M $1.9B $19M
2022 $408M $122M 0.0% 0.0% 3.9% 2.2% $225M $2.0B $22M
2021 $383M $102M 0.0% 0.0% 4.0% 2.2% $243M $1.7B $22M
2020 $322M $51M 0.0% 0.0% 2.2% 1.2% $168M $1.5B $100M
2019 $299M $79M 0.0% 0.0% 4.8% 2.0% $142M $2.0B $12M
2018 $237M $69M 0.0% 0.0% 4.9% 2.2% $123M $1.5B $19M
2017 $182M $55M 0.0% 46.8% 4.6% 2.1% $91M $1.2B $9M
2016 $143M $36M 0.0% 44.5% 4.0% 1.9% $65M — $22M
2015 $98M $19M 0.0% 43.2% — — — — $27M

Valuation over time

How the market has priced BNL against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

Price / earnings (P/E)
0.0 21.3 42.6 Mar '23 Sep '23 Mar '24 Sep '24 Mar '25 Sep '25 Mar '26 Sep '26
P/E
Price / sales (P/S)
0.0 4.5 9.0 Mar '23 Sep '23 Mar '24 Sep '24 Mar '25 Sep '25 Mar '26 Sep '26
P/S
Dividend yield (%)
0.0 3.7 7.4 Mar '23 Sep '23 Mar '24 Sep '24 Mar '25 Sep '25 Mar '26 Sep '26
Dividend yield %

Frequently asked questions

Is BNL growing its revenue and profit?

Over the past 5 years, Broadstone Net Lease, Inc.'s revenue has grown 7.1% per year, and net income grown 13.5% per year. These are computed facts, not advice.

How much debt does BNL have?

As of FY2025, Broadstone Net Lease, Inc. reported $2.5B of total debt against $31M of cash.

What is BNL's profit margin?

In FY2025, gross margin was —, operating margin —, and net margin 21.2%.

What is BNL's P/E ratio?

As of Sep '26, Broadstone Net Lease, Inc. traded at a price-to-earnings ratio of about 41.5× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.