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	Q2 2026
Revenue	$230.85M	$226.80M	$230.16M	$238.40M	$240.42M	$244.27M
Cost of Revenue	$9.38M	$8.84M	$9.13M	$10.04M	$9.80M	$8.27M
Gross Profit	$221.48M	$217.96M	$221.03M	$228.36M	$230.63M	$236.00M
Selling, General & Admin	$15.31M	$11.29M	$11.19M	$14.91M	$14.68M	$14.27M
Operating Expenses	$79.93M	$79.64M	$78.44M	$83.13M	$85.48M	$85.29M
Operating Income	$141.55M	$138.32M	$142.59M	$145.23M	$145.14M	$150.71M
EBITDA	$208.80M	$218.16M	$217.47M	$217.74M	$217.47M	$222.44M
Pretax Income	$96.46M	$100.53M	$96.84M	$95.95M	$93.95M	$97.92M
Net Income	$96.46M	$100.53M	$96.84M	$95.95M	$93.95M	$97.92M
Diluted EPS	0.51	0.54	0.51	0.51	0.50	0.52
Diluted Shares	187.08M	187.07M	188.33M	189.24M	189.46M	189.62M

NNN Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$5.10M	$5.97M	$157.92M	$5.05M	$4.57M	$4.22M
Receivables	$37.82M	$36.09M	$36.16M	$38.38M	$39.83M	$39.55M
Current Assets	$52.65M	$59.74M	$224.69M	$74.05M	$72.38M	$73.40M
Total Assets	$9.02B	$9.15B	$9.48B	$9.38B	$9.42B	$9.61B
Current Liabilities	$191.00M	$298.38M	$79.93M	$388.66M	$152.32M	$66.49M
Long-Term Debt	$4.38B	$4.38B	$4.87B	$4.47B	$4.77B	$4.97B
Total Debt	$4.49B	$4.64B	$4.87B	$4.82B	$4.85B	$5.00B
Total Liabilities	$4.67B	$4.79B	$5.06B	$4.97B	$5.03B	$5.15B
Retained Earnings	-$841.16M	-$849.20M	-$865.17M	-$882.71M	-$902.26M	-$917.96M
Shareholders' Equity	$4.36B	$4.36B	$4.42B	$4.41B	$4.40B	$4.46B
Working Capital	-$138.35M	-$238.64M	$144.77M	-$314.61M	-$79.94M	$6.91M
Net Debt	$4.49B	$4.64B	$4.71B	$4.82B	$4.85B	$5.00B

NNN Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$203.28M	$119.42M	$218.26M	$126.17M	$187.03M	$141.55M
Free Cash Flow	$203.28M	$119.42M	$218.26M	$126.17M	$187.03M	$141.55M
Depreciation & Amortisation	$64.62M	$68.35M	$67.25M	$68.22M	$70.80M	$71.03M
Investing Cash Flow	-$215.30M	-$171.67M	-$247.88M	-$113.22M	-$106.36M	-$250.34M
Financing Cash Flow	$8.48M	$53.47M	$181.56M	-$165.82M	-$81.09M	$107.62M
Dividends Paid	-$108.33M	-$108.57M	-$112.81M	-$113.49M	-$113.50M	-$113.62M
Net Change in Cash	-$3.54M	$1.22M	$151.94M	-$152.87M	-$425.00K	-$1.17M

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