Overview
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
21.2%Net margin2
5.2%Revenue growth, 20252
3.3%Return on equity2
0.87×Debt to equity2
$269.8MFree cash flow2
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs78¢$356.5M
- Income tax0¢$1.2M
- Profit21¢$96.5M
Out of $454.1M in revenue.2
Where each dollar of operating cash went, fiscal 2025
- Capital spending10¢$29.7M
- Dividends paid73¢$218.8M
- Kept or used elsewhere17¢$51.0M
Out of $299.5M of cash from operations.2
Financial statements
Every line of the income statement in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Lease revenues, net | $454.1M | $431.8M | $442.9M |
| Depreciation and amortization | $164.1M | $156.2M | $158.6M |
| Property and operating expense | $23.0M | $24.7M | $22.6M |
| General and administrative | $38.9M | $38.0M | $39.4M |
| Provision for impairment of investment in rental properties | $39.7M | $49.0M | $31.3M |
| Total operating expenses | $265.7M | $267.9M | $251.9M |
| Interest income | $389.0K | $994.0K | $512.0K |
| Interest expense | -$94.5M | -$74.1M | -$80.1M |
| Gain on sale of real estate | $12.6M | $73.2M | $54.3M |
| Income taxes | -$1.2M | -$1.2M | -$763.0K |
| Other (expenses) income | -$6.4M | $6.2M | -$1.7M |
| Net income attributable to non-controlling interests | -$2.9M | -$6.5M | -$7.8M |
| Net income attributable to Broadstone Net Lease, Inc. | $96.5M | $162.4M | $155.5M |
| Basic (in shares) | 188.1M shares | 187.5M shares | 186.6M shares |
| Diluted (in shares) | 197.6M shares | 196.6M shares | 196.3M shares |
| Basic (in dollars per share) | $0.51 | $0.86 | $0.83 |
| Diluted (in dollars per share) | $0.50 | $0.86 | $0.83 |
| Net income | $99.4M | $169.0M | $163.3M |
| Change in fair value of interest rate swaps | -$36.2M | $124.0K | -$17.3M |
| Realized loss on interest rate swaps | $6.1M | $209.0K | $1.9M |
| Comprehensive income | $69.3M | $169.3M | $147.9M |
| Comprehensive income attributable to non-controlling interests | -$1.6M | -$6.6M | -$7.1M |
| Comprehensive income attributable to Broadstone Net Lease, Inc. | $67.7M | $162.8M | $140.8M |
Every line of the balance sheet in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total accounted for using the operating method | $5.3B | $5.0B | |
| Less accumulated depreciation | -$772.6M | -$672.5M | |
| Accounted for using the operating method, net | $4.5B | $4.3B | |
| Accounted for using the direct financing method | $25.5M | $26.2M | |
| Accounted for using the sales-type method | $14.4M | $571.0K | |
| Property under development | $265.8M | $18.8M | |
| Investment in rental property, net | $4.8B | $4.3B | |
| Cash and cash equivalents | $30.5M | $14.8M | $19.5M |
| Accrued rental income | $178.9M | $162.7M | |
| Tenant and other receivables, net | $4.4M | $3.3M | |
| Prepaid expenses and other assets | $55.9M | $41.6M | |
| Interest rate swap, assets | $18.2M | $46.2M | |
| Goodwill | $339.8M | $339.8M | |
| Intangible lease assets, net | $268.0M | $267.6M | |
| Total assets | $5.7B | $5.2B | |
| Unsecured revolving credit facility | $266.0M | $93.0M | |
| Mortgages, net | $56.7M | $76.8M | |
| Unsecured term loans, net | $994.2M | $897.2M | |
| Senior unsecured notes, net | $1.2B | $846.1M | |
| Interest rate swap, liabilities | $1.5M | $0 | |
| Accounts payable and other liabilities | $60.1M | $49.0M | |
| Dividends payable | $59.5M | $58.3M | |
| Accrued interest payable | $13.5M | $5.8M | |
| Intangible lease liabilities, net | $41.5M | $48.7M | |
| Total liabilities | $2.7B | $2.1B | |
| Preferred stock, $0.001 par value; 20,000 shares authorized, no shares issued or outstanding | $0 | $0 | |
| Common stock, $0.00025 par value; 500,000 shares authorized, 191,423 and 188,626 shares issued and outstanding at December 31, 2025 and 2024, respectively | $48.0K | $47.0K | |
| Additional paid-in capital | $3.5B | $3.5B | |
| Cumulative distributions in excess of retained earnings | -$620.2M | -$496.5M | |
| Accumulated other comprehensive income | $19.8M | $49.7M | |
| Total Broadstone Net Lease, Inc. equity | $2.9B | $3.0B | |
| Non-controlling interests | $131.5M | $137.7M | |
| Total equity | $3.0B | $3.1B | $3.2B |
| Total liabilities and equity | $5.7B | $5.2B | |
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Preferred stock, shares authorized (in shares) | 20.0M shares | 20.0M shares | |
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | |
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | |
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 500.0M shares | 500.0M shares | |
| Common stock, shares issued (in shares) | 191.4M shares | 188.6M shares | |
| Common stock, shares outstanding (in shares) | 191.4M shares | 188.6M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $99.4M | $169.0M | $163.3M |
| Depreciation and amortization including intangibles associated with investment in rental property | $159.6M | $151.8M | $152.8M |
| Provision for impairment of investment in rental properties | $39.7M | $49.0M | $31.3M |
| Amortization of debt issuance costs and original issuance discounts charged to interest expense | $5.5M | $3.9M | $3.9M |
| Stock-based compensation expense | $9.6M | $7.4M | $6.4M |
| Settlement of interest rate swaps | -$6.7M | $0 | $0 |
| Straight-line rent, direct financing and sales-type lease adjustments | -$17.5M | -$19.0M | -$22.3M |
| Gain on sale of real estate | -$12.6M | -$73.2M | -$54.3M |
| Other non-cash items | $9.0M | -$10.6M | -$757.0K |
| Tenant and other receivables | -$1.1M | -$1.7M | $780.0K |
| Prepaid expenses and other assets | $2.5M | $480.0K | -$352.0K |
| Accounts payable and other liabilities | $4.5M | -$905.0K | -$8.2M |
| Accrued interest payable | $7.7M | $135.0K | -$1.4M |
| Net cash provided by operating activities | $299.5M | $276.3M | $271.1M |
| Acquisition of rental property | -$434.2M | -$288.6M | -$27.7M |
| Investment in property under development including capitalized interest of $5,271, $3,871, and $1,469 in 2025, 2024 and 2023, respectively | -$303.7M | -$108.5M | -$96.8M |
| Capital expenditures and improvements | -$29.7M | -$16.8M | -$46.3M |
| Proceeds from disposition of rental property, net | $93.5M | $354.4M | $195.0M |
| Change in deposits on investments in rental property | -$1.2M | -$200.0K | $125.0K |
| Net cash (used in) provided by investing activities | -$675.3M | -$59.7M | $24.3M |
| Proceeds from issuance of common stock, net of $870, $996, and $180 of offering costs, discounts, and commissions in 2025, 2024 and 2023, respectively | $37.9M | -$996.0K | -$180.0K |
| Contributions from non-controlling interests | $4.4M | $1.0M | $0 |
| Borrowings on senior unsecured notes and unsecured term loans | $844.8M | $0 | $0 |
| Principal payments on mortgages and unsecured term loans | -$420.2M | -$2.3M | -$7.5M |
| Borrowings on unsecured revolving credit facility | $803.3M | $256.5M | $215.5M |
| Repayments on unsecured revolving credit facility | -$633.8M | -$248.0M | -$324.0M |
| Cash distributions paid to stockholders | -$218.8M | -$216.8M | -$207.5M |
| Cash distributions paid to non-controlling interests | -$10.1M | -$10.7M | -$11.1M |
| Debt issuance costs paid | -$14.2M | $0 | $0 |
| Net cash provided by (used in) financing activities | $393.4M | -$221.2M | -$334.8M |
| Net increase (decrease) in cash and cash equivalents and restricted cash | $17.6M | -$4.6M | -$39.4M |
| Capitalized interest | $5.3M | $3.9M | $1.5M |
| Offering costs, discounts, and commissions | $870.0K | $996.0K | $180.0K |
Compare Bottlers Nepal (Balaju) Limited with another company
Sources
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