NNN

NNN REIT, Inc.

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NNN Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$773.05M	$828.11M	$869.27M	$926.21M
Cost of Revenue	$26.28M	$28.38M	$32.32M	$37.38M
Gross Profit	$746.77M	$799.73M	$836.95M	$888.83M
Selling, General & Admin	$49.53M	$47.50M	$45.05M	$50.52M
Operating Expenses	$273.37M	$286.12M	$294.74M	$318.96M
Operating Income	$473.40M	$513.61M	$542.21M	$569.87M
EBITDA	$706.52M	$794.86M	$830.53M	$862.17M
Pretax Income	$334.62M	$392.34M	$396.83M	$389.78M
Net Income	$334.63M	$392.34M	$396.83M	$389.78M
Diluted EPS	1.89	2.16	2.15	2.07
Diluted Shares	177.07M	181.69M	184.04M	187.99M

NNN Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$2.50M	$1.19M	$8.73M	$5.05M
Receivables	$31.41M	$38.26M	$36.98M	$38.38M
Current Assets	$44.32M	$51.23M	$55.28M	$74.05M
Total Assets	$8.15B	$8.66B	$8.87B	$9.38B
Current Liabilities	$190.03M	$166.37M	$29.70M	$388.66M
Long-Term Debt	$3.75B	$4.23B	$4.37B	$4.47B
Total Debt	$3.92B	$4.36B	$4.37B	$4.82B
Total Liabilities	$4.02B	$4.50B	$4.51B	$4.97B
Retained Earnings	-$793.76M	-$805.88M	-$829.29M	-$882.71M
Shareholders' Equity	$4.12B	$4.16B	$4.36B	$4.41B
Working Capital	-$145.70M	-$115.14M	$25.58M	-$314.61M
Net Debt	$3.91B	$4.36B	$4.37B	$4.82B

NNN Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$578.36M	$612.41M	$635.50M	$667.13M
Free Cash Flow	$578.36M	$612.41M	$635.50M	$667.13M
Depreciation & Amortisation	$223.83M	$238.63M	$249.68M	$268.44M
Stock-Based Compensation	$17.33M	—	—	—
Investing Cash Flow	-$777.63M	-$680.66M	-$424.34M	-$748.06M
Financing Cash Flow	$34.73M	$66.63M	-$207.26M	$77.69M
Dividends Paid	-$380.54M	-$404.46M	-$420.24M	-$443.20M
Share Repurchases	$0.00	$0.00	—	—
Net Change in Cash	-$164.54M	-$1.62M	$3.91M	-$3.24M

NNN Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$230.85M	$226.80M	$230.16M	$238.40M	$240.42M
Cost of Revenue	$9.38M	$8.84M	$9.13M	$10.04M	$9.80M
Gross Profit	$221.48M	$217.96M	$221.03M	$228.36M	$230.63M
Selling, General & Admin	$15.31M	$11.29M	$11.19M	$14.91M	$14.68M
Operating Expenses	$79.93M	$79.64M	$78.44M	$83.13M	$85.48M
Operating Income	$141.55M	$138.32M	$142.59M	$145.23M	$145.14M
EBITDA	$208.80M	$218.16M	$217.47M	$217.74M	$217.47M
Pretax Income	$96.46M	$100.53M	$96.84M	$95.95M	$93.95M
Net Income	$96.46M	$100.53M	$96.84M	$95.95M	$93.95M
Diluted EPS	0.51	0.54	0.51	0.51	0.50
Diluted Shares	187.08M	187.07M	188.33M	189.24M	189.46M

NNN Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$5.10M	$5.97M	$157.92M	$5.05M	$4.57M
Receivables	$37.82M	$36.09M	$36.16M	$38.38M	$39.83M
Current Assets	$52.65M	$59.74M	$224.69M	$74.05M	$72.38M
Total Assets	$9.02B	$9.15B	$9.48B	$9.38B	$9.42B
Current Liabilities	$191.00M	$298.38M	$79.93M	$388.66M	$152.32M
Long-Term Debt	$4.38B	$4.38B	$4.87B	$4.47B	$4.77B
Total Debt	$4.49B	$4.64B	$4.87B	$4.82B	$4.85B
Total Liabilities	$4.67B	$4.79B	$5.06B	$4.97B	$5.03B
Retained Earnings	-$841.16M	-$849.20M	-$865.17M	-$882.71M	-$902.26M
Shareholders' Equity	$4.36B	$4.36B	$4.42B	$4.41B	$4.40B
Working Capital	-$138.35M	-$238.64M	$144.77M	-$314.61M	-$79.94M
Net Debt	$4.49B	$4.64B	$4.71B	$4.82B	$4.85B

NNN Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$203.28M	$119.42M	$218.26M	$126.17M	$187.03M
Free Cash Flow	$203.28M	$119.42M	$218.26M	$126.17M	$187.03M
Depreciation & Amortisation	$64.62M	$68.35M	$67.25M	$68.22M	$70.80M
Investing Cash Flow	-$215.30M	-$171.67M	-$247.88M	-$113.22M	-$106.36M
Financing Cash Flow	$8.48M	$53.47M	$181.56M	-$165.82M	-$81.09M
Dividends Paid	-$108.33M	-$108.57M	-$112.81M	-$113.49M	-$113.50M
Net Change in Cash	-$3.54M	$1.22M	$151.94M	-$152.87M	-$425.00K

NNN REIT, Inc. is a net lease retail REIT owning single-tenant commercial properties leased to national retail tenants across diverse industries.