BNL
Broadstone Net Lease Inc
NYSE: BNL · REAL ESTATE · REIT - DIVERSIFIED
$19.93
-0.50% today
Updated 2026-04-29
Market cap
$3.98B
P/E ratio
39.86
P/S ratio
8.77x
EPS (TTM)
$0.50
Dividend yield
5.79%
52W range
$14 – $20
Volume
2.8M
Broadstone Net Lease Inc (BNL) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $68.15M | $98.09M | $142.87M | $181.56M | $237.48M | $298.81M | $323.71M | $383.22M | $408.94M | $448.09M | $438.77M | $459.14M |
| Revenue growth (YoY) | — | +43.9% | +45.7% | +27.1% | +30.8% | +25.8% | +8.3% | +18.4% | +6.7% | +9.6% | -2.1% | +4.6% |
| Cost of revenue | $42.76M | $64.86M | $100.48M | $136.02M | $185.67M | $241.88M | $284.12M | $282.65M | $331.39M | $339.83M | $337.10M | $351.14M |
| Gross profit | $25.39M | $33.23M | $42.39M | $45.54M | $51.80M | $56.93M | $39.59M | $100.57M | $77.55M | $108.26M | $101.67M | $108.00M |
| Gross margin | 37.3% | 33.9% | 29.7% | 25.1% | 21.8% | 19.1% | 12.2% | 26.2% | 19.0% | 24.2% | 23.2% | 23.5% |
| R&D | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — |
| SG&A | $1.93M | $12.86M | $17.68M | $24.68M | $30.86M | $5.46M | $31.72M | $36.37M | $37.38M | $39.42M | $37.99M | $38.88M |
| Operating income | $38.31M | $52.33M | $63.64M | $87.49M | $110.61M | $138.43M | $139.75M | $195.96M | $193.56M | $222.26M | $212.89M | $228.20M |
| Operating margin | 56.2% | 53.4% | 44.5% | 48.2% | 46.6% | 46.3% | 43.2% | 51.1% | 47.3% | 49.6% | 48.5% | 49.7% |
| EBITDA | $54.70M | $72.88M | $114.26M | $149.34M | $209.13M | $267.69M | $253.38M | $296.88M | $354.07M | $430.11M | $423.02M | $377.21M |
| EBITDA margin | 80.3% | 74.3% | 80.0% | 82.3% | 88.1% | 89.6% | 78.3% | 77.5% | 86.6% | 96.0% | 96.4% | 82.2% |
| EBIT | $35.22M | $43.49M | $67.94M | $87.08M | $125.13M | $158.87M | $120.70M | $164.78M | $199.26M | $271.49M | $266.84M | $213.12M |
| Interest expense | — | $22.61M | $29.96M | $34.75M | $52.85M | $72.53M | $76.14M | $64.15M | $78.65M | $80.05M | $74.08M | $94.47M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $15.78M | $19.29M | $36.35M | $54.80M | $69.38M | $79.39M | $51.18M | $102.49M | $116.42M | $157.16M | $156.24M | $102.91M |
| Net income growth (YoY) | — | +22.3% | +88.5% | +50.7% | +26.6% | +14.4% | -35.5% | +100.2% | +13.6% | +35.0% | -0.6% | -34.1% |
| Profit margin | 23.1% | 19.7% | 25.4% | 30.2% | 29.2% | 26.6% | 15.8% | 26.7% | 28.5% | 35.1% | 35.6% | 22.4% |