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 Oct 31, 2026, 11:17 UTC 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

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
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

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Sep '26	$122M	$27M	0.0%	0.0%	0.9%	0.4%	$64M	$2.9B	$12M
Jun '26	$122M	$40M	0.0%	0.0%	1.4%	0.7%	$46M	$2.7B	$11M
Mar '26	$121M	$46M	0.0%	0.0%	1.6%	0.8%	$75M	$2.7B	$20M
Dec '25	$118M	$33M	0.0%	0.0%	1.1%	0.6%	$78M	$2.5B	$31M
Sep '25	$114M	$26M	0.0%	0.0%	0.9%	0.5%	$58M	$2.4B	$82M
Jun '25	$113M	$20M	0.0%	0.0%	0.7%	0.4%	$77M	$2.1B	$21M
Mar '25	$109M	$17M	0.0%	0.0%	0.6%	0.3%	$57M	$2.0B	$10M
Dec '24	$112M	$26M	0.0%	0.0%	0.9%	0.5%	$57M	$1.9B	$15M
Sep '24	$108M	$36M	0.0%	0.0%	1.2%	0.7%	$60M	$2.0B	$9M
Jun '24	$106M	$35M	0.0%	0.0%	1.2%	0.7%	$74M	$1.9B	$18M
Mar '24	$105M	$65M	0.0%	0.0%	2.1%	1.2%	$68M	$1.9B	$222M
Dec '23	$105M	$6M	0.0%	0.0%	0.2%	0.1%	$44M	$1.9B	$19M
Sep '23	$110M	$50M	0.0%	0.0%	1.6%	0.9%	$68M	$1.9B	$35M
Jun '23	$109M	$60M	0.0%	0.0%	1.9%	1.1%	$54M	—	$21M
Mar '23	$119M	$39M	0.0%	0.0%	1.3%	0.7%	$59M	$2.0B	$15M
Dec '22	$112M	$35M	0.0%	0.0%	1.1%	0.6%	$48M	$2.0B	$22M
Sep '22	$104M	$27M	0.0%	0.0%	1.0%	0.5%	$77M	$2.1B	$76M
Jun '22	$98M	$34M	0.0%	0.0%	1.2%	0.7%	$41M	$1.9B	$17M
Mar '22	$94M	$27M	0.0%	0.0%	1.0%	0.6%	$58M	$1.8B	$54M
Dec '21	$93M	$30M	0.0%	0.0%	1.2%	0.7%	$57M	$1.7B	$22M

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.

The price-to-earnings ratio has risen from 26.7× (Mar '23) to 35.8× (Nov '26).
The price-to-sales ratio has fallen from 8.0× (Mar '23) to 7.6× (Nov '26).
The dividend yield has risen from 5.5% (Mar '23) to 6.3% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

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?

Broadstone Net Lease, Inc.'s P/E (TTM) is 23.58 as of the 2026-11-03 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the BNL stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 35.8× as of Nov '26) can differ. 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), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.