NNN

Nnn REIT, Inc.

$47.36 +0.59 (+1.26%) At close · Jul 13

Market Cap

$9.00B

189,939,441

Income-statement, balance-sheet and cash-flow figures extracted from the company's SEC filings — 10-K annual and 10-Q quarterly reports — and standardised for comparison across periods.

Revenue

$926.21M +6.6%

FY2025

Net Income

$389.78M -1.8%

FY2025

Operating Margin

63.64% -2.8pp

FY2025

Diluted EPS

$2.07 -3.7%

FY2025

Operating Cash Flow

$667.13M +5%

FY2025

Chart any reported metric, KPI or segment over time — the full statement history lives here

Income Statement Balance Sheet Cash Flow All Metrics

Annual Quarterly

Line Item	3Y	5Y	10Y	FY2026 (G)	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008
Revenue	+6.2%	+7.0%	+6.7%	—	$926.21M	$869.27M	$828.11M	$773.05M	$726.41M	$660.68M	$670.49M	$622.66M	$584.93M	$533.65M	$482.92M	$434.88M	$393.53M	$332.65M	$258.69M	$222.08M	$228.83M	$226.96M
Rental Income	+6.2%	+7.0%	—	—	$924.38M	$867.47M	$826.09M	$771.62M	$723.86M	$658.79M	$669.01M	—	—	—	—	—	—	—	—	$211.17M	$209.26M	$205.33M
Rental Operating Expenses	+8.3%	+6.3%	+9.5%	—	—	—	—	—	—	—	—	$25.1M	$23.11M	$20.85M	$19.78M	$18.94M	$18.5M	$17.43M	$17M	$13.18M	$13.5M	$10.15M
General & Administrative	+4.0%	+4.2%	+3.1%	—	$46.92M	$44.29M	$43.75M	$41.7M	$44.64M	$38.16M	$37.65M	$34.25M	$33.81M	$36.51M	$34.74M	$32.52M	$31.1M	$31.83M	$28.8M	$22.76M	$21.77M	$24.88M
Amortization of Intangibles	—	—	—	—	—	—	—	—	—	—	—	$9.21M	$18.84M	$13.4M	—	—	—	—	—	—	—	—
Depreciation & Amortization	+6.2%	+6.4%	+7.1%	—	$268.44M	$249.68M	$238.63M	$223.83M	$205.22M	$196.62M	$188.87M	$174.4M	$173.72M	$149.1M	$134.8M	$116.17M	$99.62M	$75.33M	$58.82M	$49.08M	$48.49M	$45.35M
Impairment of Real Estate	+51.0%	-5.2%	+21.8%	—	$28.6M	$6.63M	$5.99M	$8.31M	$21.96M	$37.44M	$31.99M	$28.21M	$4.95M	$8.03M	$3.97M	$823K	$4.11M	$10.31M	$431K	$0	$34.51M	$5.66M
Total Operating Expenses	+7.7%	+4.9%	+7.1%	—	$384.95M	$333.68M	$320.49M	$307.96M	$300.41M	$302.43M	$286.43M	$262.97M	$247.43M	$224.58M	$194.26M	$168.63M	$153.63M	$129.77M	$101.93M	$94.28M	$118.84M	$80.69M
Operating Income	+6.9%	+9.5%	+7.4%	—	$589.49M	$577.87M	$555.1M	$482.54M	$449.1M	$374.49M	$416.52M	$424.76M	$374.16M	$336.25M	$288.66M	$266.25M	$239.89M	$203.34M	$158.81M	$129.11M	$110.41M	$146.3M
Operating Margin	—	—	—	—	63.64%	66.48%	67.03%	62.42%	61.82%	56.68%	62.12%	68.22%	63.97%	63.01%	59.77%	61.22%	60.96%	61.13%	61.39%	58.14%	48.25%	64.46%
EBITDA	+6.7%	+8.5%	+7.3%	—	$857.93M	$827.55M	$793.73M	$706.37M	$654.32M	$571.11M	$605.39M	$599.16M	$547.88M	$485.35M	$423.45M	$382.41M	$339.51M	$278.68M	$217.62M	$178.2M	$158.89M	$191.65M
Interest Expense	+11.3%	+9.5%	+8.5%	—	$203.96M	$184.02M	$163.9M	$148.07M	$137.87M	$129.43M	$120.02M	$115.85M	$109.11M	$96.35M	$90.01M	$85.51M	$85.82M	$83.79M	$75.53M	$65.18M	$62.15M	$63.96M
Other Non-Operating Income	—	—	—	—	-$199.71M	-$181.04M	-$162.76M	-$147.92M	-$158.99M	-$145.69M	-$116.91M	-$132.28M	-$108.79M	-$96.75M	-$90.83M	-$86.54M	-$85.81M	-$81.92M	-$73.94M	-$63.67M	-$60.78M	-$61.02M
Gain on Sales of Real Estate	+40.3%	+24.3%	+16.1%	—	$48.22M	$42.29M	$47.49M	$17.44M	$23.09M	$16.24M	$32.46M	$65.07M	$36.66M	$27.18M	$10.81M	$11.74M	$6.45M	$10.96M	$721K	$2.08M	$2.99M	$9.98M
Equity in Earnings of Unconsolidated Entities	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	$0	$0	$4.07M	$474K	$428K	$421K	$364K
Pretax Income	+8.4%	+13.5%	—	—	—	—	—	—	—	—	—	—	$228.72M	$212.32M	$197.83M	$179.7M	$154.08M	$121.42M	$84.87M	$65.45M	$49.63M	$85.28M
Income Tax	—	—	—	—	—	—	—	—	—	$0	$0	$0	$0	$0	$10.32M	-$75K	$74K	-$6.89M	$899K	$475K	-$1.05M	-$7.26M
Net Income	+5.2%	+11.2%	+7.0%	—	$389.78M	$396.84M	$392.34M	$334.63M	$290.11M	$228.8M	$299.18M	$292.45M	$264.97M	$239.5M	$197.84M	$190.6M	$160.15M	$142.02M	$92.33M	$73M	$54.81M	$117.15M
Net Margin	—	—	—	—	42.08%	45.65%	47.38%	43.29%	39.94%	34.63%	44.62%	46.97%	45.3%	44.88%	40.97%	43.83%	40.7%	42.69%	35.69%	32.87%	23.95%	51.62%
Net Income Attributable to Noncontrolling Interests	—	-18.9%	—	—	—	—	—	—	—	—	—	—	—	—	$125K	$569K	-$60K	-$78K	$91K	$356K	-$1.59M	$2.82M
Net Income Available to Common Stockholders	+5.2%	+13.1%	+9.1%	—	$389.78M	$396.84M	$392.34M	$334.63M	$264.22M	$210.86M	$258.18M	$258.12M	$217.19M	$200.88M	$162.4M	$155.17M	$132.22M	$121.49M	$85.54M	$66.21M	$48.03M	$110.37M
Comprehensive Income	+11.0%	+6.3%	—	—	—	$398.99M	$394.81M	$337M	$291.6M	$223.48M	$294.18M	$300.49M	$259.43M	$251.66M	—	—	—	—	-$5.49M	$1.15M	-$1.9M	$118.84M
EPS (Basic) USD/shares	+3.1%	+11.2%	+5.5%	—	$2.07	$2.16	$2.16	$1.89	$1.51	$1.22	$1.56	$1.65	$1.45	$1.39	$1.21	$1.24	$1.11	$1.13	$0.96	$0.80	$0.60	$1.48
EPS (Diluted) USD/shares	+3.1%	+11.2%	+5.6%	$2.02 – $2.08	$2.07^G	$2.15^G	$2.16^G	$1.89^G	$1.51	$1.22	$1.56	$1.65	$1.45	$1.38	$1.20	$1.24	$1.10	$1.11	$0.96	$0.80	$0.60	$1.48
Shares Outstanding (Basic Avg) shares	+2.1%	+1.7%	+3.4%	—	187.61M	183.69M	181.2M	176.4M	174.71M	172.11M	164.69M	155.74M	149.11M	144.18M	134M	124.26M	118.2M	106.97M	88.1M	82.72M	79.85M	74.25M
Shares Outstanding (Diluted Avg) shares	+2.0%	+1.8%	+3.4%	—	187.99M	184.04M	181.69M	177.07M	174.82M	172.22M	165.08M	156.3M	149.43M	144.66M	134.49M	124.71M	119.86M	109.12M	88.84M	82.85M	79.95M	74.34M

Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative. (G): the company's own guidance — a (G) column is a guided period not yet reported; a G marker shows how the reported figure landed against the guided range. Non-GAAP-basis guidance (*) is shown as stated and never judged against GAAP actuals.

Capital Returned to Shareholders

Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2008–FY2025: $4.82B in dividends.

Price & Valuation

Multiples computed on the strict TTM/EV methodology — today's snapshot against the industry, and each ratio recomputed as of past filing dates.

Valuation

EV/Revenue

—

EV/EBIT

—

P/E (TTM)

22.88×

REIT - Retail median 23.72×

Valuation over time computed as of each quarter's filing date

Key facts CIK 751364 CUSIP 637417106 13F (30d) 48 filings 35 filers Visit website Investor relations