📊 BNL Key Takeaways
Is Broadstone Net Lease, Inc. (BNL) a Good Investment?
Broadstone Net Lease demonstrates strong cash generation (61.6% FCF margin) and exceptional operating margins (65.8%), typical of mature REIT operations. However, a severe 41.9% YoY decline in diluted EPS despite 5.2% revenue growth signals potential share dilution or unidentified operational deterioration that requires urgent clarification before considering investment.
Broadstone Net Lease shows stable core fundamentals with mid-single-digit revenue growth, positive net income growth, and very strong cash generation relative to revenue. Its balance sheet appears manageable with moderate leverage and acceptable interest coverage, but weak returns on assets/equity, low cash on hand, and a sharp decline in diluted EPS suggest limited fundamental upside without better earnings quality and capital efficiency.
Broadstone Net Lease, Inc. Key Strengths (BNL)
- Exceptional free cash flow generation at 61.6% of revenue with minimal capex requirements
- Very high operating and net margins (65.8% and 38.2%) reflecting strong pricing power in net lease portfolio
- Moderate leverage at 0.92x debt-to-equity ratio with interest coverage of 4.0x providing reasonable solvency
- Revenue and net income are still growing, indicating resilient portfolio-level operating performance
- Operating cash flow and free cash flow are strong, supporting internal funding capacity
- Leverage is moderate at 0.87x debt-to-equity with 4.0x interest coverage, indicating reasonable debt service capacity
BNL Stock Risks: Broadstone Net Lease, Inc. Investment Risks
- Diluted EPS collapsed 41.9% year-over-year despite revenue growth, indicating significant shareholder dilution or unidentified earnings headwinds
- Abysmal returns on capital with ROE of 1.6% and ROA of 0.8% show inefficient deployment of $5.8B asset base
- Low cash position of $20.3M (0.35% of assets) relative to $2.7B debt load creates minimal liquidity buffer for operational stress
- Diluted EPS fell 41.9% year over year despite higher net income, pointing to weaker per-share earnings quality
- ROE of 3.3% and ROA of 1.7% indicate low capital efficiency
- Cash balances are thin relative to the company's debt load, limiting near-term liquidity flexibility
Key Metrics to Watch
- Trend in diluted EPS and share count to understand source of earnings decline
- Return on equity progression and capital allocation efficiency
- Operating cash flow sustainability relative to debt service coverage
- Per-share earnings trend versus net income growth
- Interest coverage and operating cash flow relative to debt obligations
Broadstone Net Lease, Inc. (BNL) Financial Metrics & Key Ratios
💡 AI Analyst Insight
The 61.6% free cash flow margin provides substantial flexibility for dividends, buybacks, and strategic investments. The current ratio below 1.0x warrants monitoring of short-term liquidity.
BNL Profit Margin, ROE & Profitability Analysis
BNL vs Real Estate Sector: How Broadstone Net Lease, Inc. Compares
How Broadstone Net Lease, Inc. compares to Real Estate sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is Broadstone Net Lease, Inc. Stock Overvalued? BNL Valuation Analysis 2026
Based on fundamental analysis, Broadstone Net Lease, Inc. has mixed fundamental signals relative to the Real Estate sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
Broadstone Net Lease, Inc. Balance Sheet: BNL Debt, Cash & Liquidity
BNL Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: Broadstone Net Lease, Inc.'s revenue has grown significantly by 19% over the 5-year period, indicating strong business expansion. The most recent EPS of $0.83 reflects profitable operations.
BNL Revenue Growth, EPS Growth & YoY Performance
BNL Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q1 2026 | $108.7M | $16.7M | $0.09 |
| Q3 2025 | $108.4M | $26.5M | $0.14 |
| Q2 2025 | $105.9M | $20.2M | $0.10 |
| Q1 2025 | $105.4M | $16.7M | $0.09 |
| Q3 2024 | $108.4M | $35.6M | $0.19 |
| Q2 2024 | $105.9M | $35.3M | $0.19 |
| Q1 2024 | $105.4M | $39.3M | $0.21 |
| Q3 2023 | $103.5M | $27.1M | $0.16 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
Broadstone Net Lease, Inc. Dividends, Buybacks & Capital Allocation
BNL SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for Broadstone Net Lease, Inc. (CIK: 0001424182)
📋 Recent SEC Filings
| Date | Form | Document | Action |
|---|---|---|---|
| May 1, 2026 | 4 | xslF345X06/wk-form4_1777666429.xml | View → |
| May 1, 2026 | 4 | xslF345X06/wk-form4_1777666424.xml | View → |
| May 1, 2026 | 4 | xslF345X06/wk-form4_1777666418.xml | View → |
| May 1, 2026 | 4 | xslF345X06/wk-form4_1777666407.xml | View → |
| May 1, 2026 | 4 | xslF345X06/wk-form4_1777666400.xml | View → |
❓ Frequently Asked Questions about BNL
What is the AI rating for BNL?
Broadstone Net Lease, Inc. (BNL) has a Combined AI Grade of B from Claude (B) and ChatGPT (B) with 66% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are BNL's key strengths?
Claude: Exceptional free cash flow generation at 61.6% of revenue with minimal capex requirements. Very high operating and net margins (65.8% and 38.2%) reflecting strong pricing power in net lease portfolio. ChatGPT: Revenue and net income are still growing, indicating resilient portfolio-level operating performance. Operating cash flow and free cash flow are strong, supporting internal funding capacity.
What are the risks of investing in BNL?
Claude: Diluted EPS collapsed 41.9% year-over-year despite revenue growth, indicating significant shareholder dilution or unidentified earnings headwinds. Abysmal returns on capital with ROE of 1.6% and ROA of 0.8% show inefficient deployment of $5.8B asset base. ChatGPT: Diluted EPS fell 41.9% year over year despite higher net income, pointing to weaker per-share earnings quality. ROE of 3.3% and ROA of 1.7% indicate low capital efficiency.
What is BNL's revenue and growth?
Broadstone Net Lease, Inc. reported revenue of $121.4M.
Does BNL pay dividends?
Broadstone Net Lease, Inc. pays dividends, with $55.7M distributed to shareholders in the trailing twelve months.
Where can I find BNL SEC filings?
Official SEC filings for Broadstone Net Lease, Inc. (CIK: 0001424182) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is BNL's EPS?
Broadstone Net Lease, Inc. has a diluted EPS of $0.24.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined grade reflects both perspectives for balanced insights.
What is BNL's fundamental grade?
Based on our AI fundamental analysis in June 2026, Broadstone Net Lease, Inc. has a B grade with 66% confidence. Review the strengths and risks sections above for full context. This is not investment advice.
Is BNL stock overvalued or undervalued?
Valuation metrics for BNL: ROE of 1.6% (sector avg: 8%), net margin of 38.2% (sector avg: 20%). Compare these metrics with sector averages to assess valuation.
What is BNL's AI grade for 2026?
Our dual AI analysis gives Broadstone Net Lease, Inc. a combined B grade for 2026. Revenue is data pending, with profitability above sector average. Always conduct your own research.
What is BNL's free cash flow?
Broadstone Net Lease, Inc.'s operating cash flow is $76.1M, with capital expenditures of $1.4M. FCF margin is 61.6%.
How does BNL compare to other Real Estate stocks?
Vs Real Estate sector averages: Net margin 38.2% (avg: 20%), ROE 1.6% (avg: 8%), current ratio N/A (avg: 1.5).