Is Broadstone Net Lease (BNL) overvalued or fairly valued?

MarketChacha shows Broadstone Net Lease's valuation in context — a trailing P/E of about 39.7, a forward P/E of about 27.9, a price-to-book of about 1.5 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Broadstone Net Lease's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (2.04×) from reported figures — education, not a rating.

What is Broadstone Net Lease's revenue?

Broadstone Net Lease reported revenue of $454.1M for FY2025, with net profit of $96.5M, per official filings.

What is the share price of Broadstone Net Lease (BNL)?

Broadstone Net Lease last traded at $22.66 (-0.8% on the day), as of 7/22/2026 — a delayed quote shown for education, not investment advice.

Broadstone Net Lease

BNL · NYSE · Real Estate · United States

$22.66-0.8%

Delayed · as reported by Yahoo Finance · as of Jul 22, 2026, 7:32 PM

Snapshot

TickerBNL

ExchangeNYSE

SectorReal Estate

IndustryREIT - Diversified

CountryUnited States

Employees62

HeadquartersVictor, United States

Market cap$4.5B

P/E (TTM)39.7

P/B1.5

Volume444.75K

Websitewww.broadstone.com

Filings tracked7

About Broadstone Net Lease

Broadstone Net Lease, Inc. is an industrial-focused, diversified net lease REIT that invests in primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. Utilizing an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting, as of March 31, 2026, BNL's diversified portfolio consisted of 773 individual net leased commercial properties with 766 properties located in 44 U.S. states and seven properties located in four Canadian provinces across the industrial, retail, and other property types. Broadstone Net Lease, Inc. was established and incorporated on October 18th, 2017 in Maryland and is based in Victor, New York.

Profile as reported by Yahoo Finance.

Who owns it

Insiders1.0%
Institutions96.1%
Public & other2.9%

507 institutional holders

As reported by Yahoo Finance.

Top holders

Blackrock Inc.13.22%
Vanguard Portfolio Management LLC9.45%
Vanguard Capital Management LLC4.45%
State Street Corporation4.12%
Nuveen, LLC3.10%
Geode Capital Management, LLC2.75%
Invesco Ltd.2.37%
Alliancebernstein L.P.2.33%

Largest institutional holders, as reported by Yahoo Finance (as of 3/31/2026).

Forensic scorecard

Margin has compressed by about 13.9 points over the period — profitability is trending down.

Cash conversion2.04×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend35.1% → 21.2%

Margin has compressed by about 13.9 points over the period — profitability is trending down.

Return on equity3.3%

Latest ROE of 3.3% is on the low side — the business earns a modest return on shareholder capital.

Growth qualityrev 1% · PAT -21%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $124.4M · EPS 0.19

Est. earnings growth +37.3%

Next fiscal year

Rev $536.6M · EPS 0.81

Est. earnings growth +1.7%

Analyst consensus estimates — not the company's own guidance. As reported by Yahoo Finance.

$15.6752-wk range$23.10

Delayed · as reported by Yahoo Finance

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Market cap

$4.5B

Day change

-0.8%

P/E (TTM)

39.7

Fwd P/E

27.9

P/B

1.5

Div yield

5.10%

Beta

0.97

Revenue (FY2025)

$454.1M

Net margin

21.2%

ROE

3.3%

Revenue CAGR (2y)

+1.3%

Profit CAGR (2y)

-21.2%

EPS (FY2025)

0.50

Net profit (FY2025)

$96.5M

Market figures: Delayed · as reported by Yahoo Finance. Financials as reported in company filings.

Ask MarketChacha about BNL

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Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$454.1M	$96.5M	0.50	21.2%	3.3%
FY2024	$431.8M	$162.4M	0.86	37.6%	5.4%
FY2023	$442.9M	$155.5M	0.83	35.1%	5.1%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q1	$121.4M	$46.4M	0.24	38.2%
2025Q3	$114.2M	$26.5M	0.14	23.2%
2025Q2	$113.0M	$20.2M	0.10	17.8%
2025Q1	$108.7M	$16.7M	0.09	15.4%
2024Q3	$108.4M	$35.6M	0.19	32.8%
2024Q2	$105.9M	$35.3M	0.19	33.4%
2024Q1	$105.4M	$65.1M*	0.35	—
2023Q3	$109.5M	$49.7M	0.26	45.4%
2023Q2	$109.4M	$60.0M	0.32	54.9%
2023Q1	$119.0M	$39.3M	0.21	33.0%

* Net profit includes one-off / non-operating items (e.g. a settlement or accounting gain), so it doesn’t reflect operating performance — net margin is hidden for that period.

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K — Reg FD disclosure, Exhibits
SEC7/8/2026material
8-K — Reg FD disclosure, Exhibits
SEC7/2/2026material
8-K — Reg FD disclosure, Exhibits
SEC6/11/2026material
8-K — Shareholder vote results, Exhibits
SEC5/1/2026material
10-Q filing
SEC4/30/2026
8-K — Results of operations, Exhibits
SEC4/29/2026material
8-K — Reg FD disclosure, Exhibits
SEC4/1/2026material

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed · as reported by yahoo finance) are delayed and shown for reference only. Verify with the linked sources before acting.