WallStSmart

Broadstone Net Lease Inc (BNL)vsAT&T Inc. 5.35% GLB NTS 66 (TBB)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

BNL leads profitability with a 30.6% profit margin vs 0.0%. TBB trades at a lower P/E of 3.8x. BNL earns a higher WallStSmart Score of 60/100 (C+).

BNL

Buy

60

out of 100

Grade: C+

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

TBB

Avoid

25

out of 100

Grade: F

Growth: 4.0Profit: 5.0Value: 6.7Quality: 3.5
Piotroski: 5/9Altman Z: 0.87
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

Intrinsic value data unavailable for TBB.

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

TBB3 strengths · Avg: 9.0/10
P/E RatioValuation
3.8x10/10

Attractively priced relative to earnings

Market CapQuality
$132.56B9/10

Large-cap with strong market position

Free Cash FlowQuality
$5.17B8/10

Generating 5.2B 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

TBB4 concerns · Avg: 3.5/10
Revenue GrowthGrowth
0.0%4/10

0.0% revenue growth

EPS GrowthGrowth
0.0%4/10

0.0% earnings growth

Profit MarginProfitability
0.0%3/10

0.0% margin — thin

Operating MarginProfitability
0.0%3/10

Operating margin of 0.0%

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 : TBB

The strongest argument for TBB centers on P/E Ratio, Market Cap, Free Cash Flow.

Bear Case : BNL

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

Bear Case : TBB

The primary concerns for TBB are Revenue Growth, EPS Growth, Profit Margin.

Key Dynamics to Monitor

BNL profiles as a mature stock while TBB is a value play — different risk/reward profiles.

BNL is growing revenue faster at 8.3% — sustainability is the question.

TBB generates stronger free cash flow (5.2B), providing more financial flexibility.

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

Bottom Line

BNL scores higher overall (60/100 vs 25/100), backed by strong 30.6% margins. Both earn "Buy" and "Avoid" 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.

AT&T Inc. 5.35% GLB NTS 66

REAL ESTATE · REIT - RESIDENTIAL · USA

AT&T Inc. provides digital entertainment communications and services. The company is headquartered in Dallas, Texas.

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