Broadstone Net Lease, Inc. (BNL) Financial Statements
Industry: Real Estate Investment Trusts
In fiscal 2025, Broadstone Net Lease reported revenue of $454.1M, up 5.2% from $431.8M the year before. Net income was $96.5M (a 21.2% net margin), or $0.50 per diluted share. Gross margin was 41.5% and operating margin was -3.2%. Operating activities generated $299.5M of cash, leaving $269.8M of free cash flow. At fiscal year end, Broadstone Net Lease held $5.72B in total assets against $2.68B in total liabilities, including $30.5M of cash and equivalents.
Open the full interactive Broadstone Net Lease financials → Quarterly statements, key ratios, valuation history and price charts.
Broadstone Net Lease Key Stats
| Share Price | $18.32 |
|---|---|
| Market Cap | $3.67B |
| P/E Ratio | 36.6 |
| Revenue YoY Growth | +5.2% |
| 52-Week Range | $16.22 – $22.49 |
| Shares Outstanding | 190.7 million (basic, 2026 Q2) |
Broadstone Net Lease Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $321.6M | $382.9M | $407.5M | $442.9M | $431.8M | $454.1M |
| Cost of Goods Sold | $201.0M | $215.1M | $219.5M | $251.9M | $267.9M | $265.7M |
| Gross Profit | $120.7M | $167.7M | $188.0M | $191.0M | $163.9M | $188.5M |
| Operating Income | -$40.0M | -$715,000 | -$4.2M | -$7.1M | -$30.3M | -$14.5M |
| Pre-Tax Income | $51.2M | $102.4M | $122.1M | $155.5M | $162.4M | $97.6M |
| Income Tax | — | — | — | — | — | $1.2M |
| Net Income | $51.2M | $102.4M | $122.1M | $155.5M | $162.4M | $96.5M |
| Diluted EPS | $0.44 | $0.67 | $0.72 | $0.83 | $0.86 | $0.50 |
Broadstone Net Lease Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $114.2M | $118.3M | $121.4M | $122.3M |
| Net Income | $26.5M | $33.1M | $46.4M | $39.8M |
| Diluted EPS | $0.14 | $0.17 | $0.24 | $0.21 |
Broadstone Net Lease Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $100.5M | $21.7M | $21.8M | $19.5M | $14.8M | $30.5M |
| Total Assets | $4.26B | $4.62B | $5.46B | $5.27B | $5.22B | $5.72B |
| Total Long-Term Debt | $1.55B | $1.70B | $2.03B | $1.92B | $1.92B | $2.52B |
| Total Liabilities | $1.78B | $1.88B | $2.20B | $2.07B | $2.07B | $2.68B |
| Shareholders' Equity | $2.30B | $2.58B | $3.09B | $3.05B | $3.00B | $2.90B |
Broadstone Net Lease Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $179.0M | $244.9M | $255.9M | $271.1M | $276.3M | $299.5M |
| Cash From Investing | -$60.2M | -$582.3M | -$859.6M | $24.3M | -$59.7M | -$675.3M |
| Cash From Financing | -$28.4M | $254.4M | $636.0M | -$334.8M | -$221.2M | $393.4M |
| Free Cash Flow | $168.2M | $243.3M | $224.5M | $224.8M | $259.5M | $269.8M |
Figures from Broadstone Net Lease's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Broadstone Net Lease financials page for every line item.
Broadstone Net Lease Company Profile
| Ticker | BNL |
|---|---|
| Exchange | NYSE |
| Industry | Real Estate Investment Trusts |
| Headquarters | Victor, New York |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001424182 |
Frequently Asked Questions
What was Broadstone Net Lease's revenue in fiscal 2025?
Broadstone Net Lease (BNL) reported revenue of $454.1M for fiscal 2025.
What is Broadstone Net Lease's annual revenue history?
Broadstone Net Lease's annual revenue by fiscal year: 2020: $321.6M; 2021: $382.9M; 2022: $407.5M; 2023: $442.9M; 2024: $431.8M; 2025: $454.1M.
What was Broadstone Net Lease's net income in fiscal 2025?
Broadstone Net Lease reported net income of $96.5M for fiscal 2025.
What was Broadstone Net Lease's earnings per share (EPS) in fiscal 2025?
Broadstone Net Lease's diluted EPS was $0.50 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Broadstone Net Lease generate in fiscal 2025?
Broadstone Net Lease generated $269.8M of free cash flow in fiscal 2025.
What was Broadstone Net Lease's revenue last quarter?
In its most recent reported quarter (2026 Q2), Broadstone Net Lease reported revenue of $122.3M.
How much debt does Broadstone Net Lease have?
Broadstone Net Lease reported $2.52B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Broadstone Net Lease are outstanding?
Broadstone Net Lease reported a weighted average of 190.7 million basic shares outstanding in 2026 Q2.
What is Broadstone Net Lease's market cap?
Based on its latest closing price, Broadstone Net Lease (BNL) has a market capitalization of about $3.67B.
When does Broadstone Net Lease's fiscal year end?
Broadstone Net Lease's fiscal year end, as registered with the SEC, is December 31.
Where is Broadstone Net Lease headquartered?
Broadstone Net Lease lists its business address in Victor, New York in its SEC filings.