WallStSmart

Broadstone Net Lease Inc (BNL)vsPrologis Inc (PLD)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Prologis Inc generates 1928% more annual revenue ($9.66B vs $476.17M). PLD leads profitability with a 43.6% profit margin vs 30.6%. BNL trades at a lower P/E of 27.6x. PLD earns a higher WallStSmart Score of 65/100 (B-).

BNL

Buy

60

out of 100

Grade: C+

Growth: 6.7Profit: 7.0Value: 4.3Quality: 6.5
Piotroski: 3/9Altman Z: 1.75

PLD

Strong Buy

65

out of 100

Grade: B-

Growth: 8.0Profit: 7.0Value: 5.3Quality: 4.0
Piotroski: 2/9Altman Z: 1.01
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

BNLSignificantly Overvalued (-36.9%)

Margin of Safety

-36.9%

Fair Value

$14.22

Current Price

$20.42

$6.20 premium

UndervaluedFair: $14.22Overvalued
PLDUndervalued (+46.3%)

Margin of Safety

+46.3%

Fair Value

$252.77

Current Price

$135.75

$117.02 discount

UndervaluedFair: $252.77Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

BNL4 strengths · Avg: 10.0/10
Price/BookValuation
1.4x10/10

Reasonable price relative to book value

Profit MarginProfitability
30.6%10/10

Keeps 31 of every $100 in revenue as profit

Operating MarginProfitability
46.2%10/10

Strong operational efficiency at 46.2%

EPS GrowthGrowth
95.7%10/10

Earnings expanding 95.7% YoY

PLD6 strengths · Avg: 9.2/10
Profit MarginProfitability
43.6%10/10

Keeps 44 of every $100 in revenue as profit

Operating MarginProfitability
43.0%10/10

Strong operational efficiency at 43.0%

EPS GrowthGrowth
85.3%10/10

Earnings expanding 85.3% YoY

Market CapQuality
$131.96B9/10

Large-cap with strong market position

Price/BookValuation
2.4x8/10

Reasonable price relative to book value

Free Cash FlowQuality
$1.20B8/10

Generating 1.2B in free cash flow

Areas to Watch

BNL4 concerns · Avg: 3.5/10
P/E RatioValuation
27.6x4/10

Moderate valuation

Altman Z-ScoreHealth
1.754/10

Distress zone — elevated risk

Return on EquityProfitability
4.4%3/10

ROE of 4.4% — below average capital efficiency

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

PLD4 concerns · Avg: 3.0/10
P/E RatioValuation
30.2x4/10

Premium valuation, high expectations priced in

Return on EquityProfitability
7.8%3/10

ROE of 7.8% — below average capital efficiency

Piotroski F-ScoreQuality
2/93/10

Weak financial health signals

PEG RatioValuation
117.012/10

Expensive relative to growth rate

Comparative Analysis Report

WallStSmart Research

Bull Case : BNL

The strongest argument for BNL centers on Price/Book, Profit Margin, Operating Margin. Profitability is solid with margins at 30.6% and operating margin at 46.2%.

Bull Case : PLD

The strongest argument for PLD centers on Profit Margin, Operating Margin, EPS Growth. Profitability is solid with margins at 43.6% and operating margin at 43.0%. Revenue growth of 12.3% demonstrates continued momentum.

Bear Case : BNL

The primary concerns for BNL are P/E Ratio, Altman Z-Score, Return on Equity.

Bear Case : PLD

The primary concerns for PLD are P/E Ratio, Return on Equity, Piotroski F-Score.

Key Dynamics to Monitor

PLD carries more volatility with a beta of 1.32 — expect wider price swings.

PLD is growing revenue faster at 12.3% — sustainability is the question.

PLD generates stronger free cash flow (1.2B), providing more financial flexibility.

Monitor REIT - DIVERSIFIED industry trends, competitive dynamics, and regulatory changes.

Bottom Line

PLD scores higher overall (65/100 vs 60/100), backed by strong 43.6% margins and 12.3% revenue growth. Both earn "Strong Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Broadstone Net Lease Inc

REAL ESTATE · REIT - DIVERSIFIED · USA

BNL is an internally managed REIT that primarily acquires, owns and manages single-tenant commercial real estate that is rented out on a long-term basis to a diversified group of tenants.

Prologis Inc

REAL ESTATE · REIT - INDUSTRIAL · USA

Prologis, Inc. is a real estate investment trust headquartered in San Francisco, California that invests in logistics facilities, with a focus on the consumption side of the global supply chain.

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