Broadstone Net Lease, Inc.
BNL · Price history
Price at last available close
$16.86
−$2.02 (-10.70%) 1M
2026-10-28
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Company & revenue
About Broadstone Net Lease, Inc.
Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Broadstone Net Lease, Inc. (BNL) operates as a self-managed Real Estate Investment Trust. Its strategy focuses on acquiring, owning, and overseeing primarily single-tenant commercial properties that are subject to long-term net leases with a varied tenant base. The company's investment approach is anchored by robust fundamental credit evaluations and judicious real estate underwriting.
How they make money
Broadstone Net Lease, Inc. operates as a real estate investment trust (REIT) that acquires and manages single-tenant commercial properties. The company generates revenue primarily through long-term net leases, where tenants are responsible for property-level operating expenses such as taxes, insurance, and maintenance, allowing the company to earn stable rental income while tenants retain operational control of their facilities.
Products & services
The company provides long-term net lease solutions for single-tenant commercial real estate, focusing on industrial, retail, restaurant, office, and healthcare properties.
Brands & revenue mix
No separate brand or brand-level revenue disclosure was confirmed in the reviewed sources. This does not mean the company has no brands.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer types
Customer concentration
As of December 31, 2025, the company's portfolio is diversified across a large number of tenants, with no single tenant accounting for a significant concentration of total annualized base rent.
Suppliers, materials & equipment
No supplier relationships were confirmed in the sources reviewed. This does not mean the company has no suppliers.
Strengths
Sources
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
25
Poor
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
39
Poor
Financial Strength
44
Business Quality / Moat
28
Management
28
Growth Quality
41
Risk / Durability
67
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
31
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
38/100
Building Historical Record
Model Score 38/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
No strong positive signal is being highlighted from the currently available summary data.
- •Valuation is a weaker part of the current profile
- •Revenue fundamentals are weak
- •Debt / balance-sheet profile needs attention
Company-specific research
Questions worth answering for BNL
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can BNL maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •Is BNL's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
- •Is BNL's debt load manageable relative to cash generation, interest costs and upcoming maturities?
- •What future growth or profitability would be needed to justify BNL's current valuation?
Essential Investment Snapshot
Wall Street Score
25
Opportunity Score
31
Market Cap
$3.24B
P/E Ratio
24.3
EPS
$0.76
52-Week High
$23.10
52-Week Low
$17.16
Beta
0.94
Intrinsic Value
$12.44
Analyst Target
$24.00
Shares Outstanding
197.6M
Total Revenue
$478.0M
Total Debt
$2.73B
Dividend
No current dividend
Liquidation Value / Share
$15.23
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Strong downward momentum
Low movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Community Sentiment
0 active · 0 total callsNo personal call yet on BNL.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Diversified portfolio of single-tenant commercial properties.
- +Long-term net lease structure providing stable cash flows.
- +Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the REIT - Diversified industry.
- −Tenant credit risk and potential for lease defaults.
- −Sensitivity to interest rate fluctuations affecting financing costs.
- −Real estate market volatility and property valuation risks.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
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Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
5 historical score records availablePrevious Score
24
Sep 9, 2026
Change
+0.7
points
Current Score
25
Oct 1, 2026
Category Changes
BNL increased 0.7 points because Asset improved by 3.3 points, Capital improved by 4 points.
Positive Contributors
- + Asset improved by 3.3 points
- + Capital improved by 4 points
Projected Score
Projected Score
28
Projected Change
+3.0 points
Preliminary comparable-period financial changes suggest improvement of approximately 3.0 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
OvervaluedCurrent Price
$16.86
Model Intrinsic Value
$12.44
Difference
+$4.42
+35.5% vs IV
Margin of Safety
-35.5%
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $478.0M | $459.1M | $438.8M | $448.1M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $271.6M | $351.1M | $337.1M | $339.8M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $206.5M | $108.0M | $101.7M | $108.3M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $11.9M | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | -$27.1M | -$120.2M | -$111.2M | -$114.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | $427.9M | $377.2M | $423.0M | $430.1M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | $233.6M | $228.2M | $212.9M | $222.3M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $104.3M | $94.5M | $74.1M | $80.1M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | $148.7M | $107.0M | $164.0M | $165.8M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | $1.3M | $1.2M | $1.2M | $763K | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | $144.4M | $102.9M | $156.2M | $157.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $0.76 | $0.51 | $0.86 | $0.87 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 191M | 188M | 187M | 187M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 200M | 198M | 197M | 196M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$122.3M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$0.21
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
+26.2%
Cash Change
-46.6%
Margin Change
+11.7 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Margins expanded
What Weakened
- Cash position declined
- Debt increased
Potential Score Impact
Positive indicators included revenue growth, EPS growth, net income margin. Pressure indicators included cash levels, debt levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 8.2%. EPS increased 90.9%. Cash declined 46.6%. Total debt increased 26.2%. Net income margin improved by 11.7 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
Smart Money
Number of Gurus
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
5 historical recordsHistorical Score Chart
3 of 5 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
Related Companies
REIT - DiversifiedNews
Broadstone Net Lease, Inc. (NYSE:BNL) Plans Quarterly Dividend of $0.29
Engineers Gate Manager LP Invests $1.48 Million in Broadstone Net Lease, Inc. $BNL
The Ultimate SWAN Investment: Why Retirees Should Own Net Lease REITs
Broadstone Net Lease: The Dilution Looks Worse Than The Economics
Rumor Mill · BNL
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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