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BROADSTONE NET LEASE INC (BNL) Stock Fundamental Analysis

NYSE:BNL - New York Stock Exchange, Inc. - US11135E2037 - REIT - Currency: USD

15.96  -0.07 (-0.44%)

After market: 15.96 0 (0%)

Fundamental Rating

5

BNL gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 129 industry peers in the Diversified REITs industry. BNL has an excellent profitability rating, but there are some minor concerns on its financial health. BNL is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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7

1. Profitability

1.1 Basic Checks

BNL had positive earnings in the past year.
BNL had a positive operating cash flow in the past year.
Of the past 5 years BNL 4 years were profitable.
Of the past 5 years BNL 4 years had a positive operating cash flow.
BNL Yearly Net Income VS EBIT VS OCF VS FCFBNL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 200M -200M -400M -600M -800M

1.2 Ratios

BNL has a better Return On Assets (2.69%) than 75.40% of its industry peers.
BNL has a Return On Equity of 4.72%. This is in the better half of the industry: BNL outperforms 69.05% of its industry peers.
BNL's Return On Invested Capital of 3.24% is fine compared to the rest of the industry. BNL outperforms 63.49% of its industry peers.
BNL had an Average Return On Invested Capital over the past 3 years of 3.24%. This is in line with the industry average of 3.11%.
Industry RankSector Rank
ROA 2.69%
ROE 4.72%
ROIC 3.24%
ROA(3y)2.46%
ROA(5y)2.12%
ROE(3y)4.32%
ROE(5y)3.99%
ROIC(3y)3.24%
ROIC(5y)3.04%
BNL Yearly ROA, ROE, ROICBNL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 1 2 3 4 5

1.3 Margins

With an excellent Profit Margin value of 33.32%, BNL belongs to the best of the industry, outperforming 87.30% of the companies in the same industry.
BNL's Profit Margin has improved in the last couple of years.
BNL has a Operating Margin of 49.73%. This is amongst the best in the industry. BNL outperforms 91.27% of its industry peers.
In the last couple of years the Operating Margin of BNL has remained more or less at the same level.
The Gross Margin of BNL (86.94%) is better than 88.10% of its industry peers.
BNL's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 49.73%
PM (TTM) 33.32%
GM 86.94%
OM growth 3Y5.16%
OM growth 5Y1.49%
PM growth 3Y30.09%
PM growth 5Y3.66%
GM growth 3Y1.82%
GM growth 5Y-0.14%
BNL Yearly Profit, Operating, Gross MarginsBNL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 20 40 60 80

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4

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so BNL is destroying value.
There is no outstanding debt for BNL. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
BNL Yearly Shares OutstandingBNL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M
BNL Yearly Total Debt VS Total AssetsBNL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B 4B 5B

2.2 Solvency

BNL has an Altman-Z score of 0.91. This is a bad value and indicates that BNL is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of BNL (0.91) is better than 67.46% of its industry peers.
BNL has a Debt/Equity ratio of 0.65. This is a neutral value indicating BNL is somewhat dependend on debt financing.
BNL has a better Debt to Equity ratio (0.65) than 80.95% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.65
Debt/FCF N/A
Altman-Z 0.91
ROIC/WACC0.48
WACC6.8%
BNL Yearly LT Debt VS Equity VS FCFBNL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 1B 2B 3B

2.3 Liquidity

BNL has a Current Ratio of 1.65. This is a normal value and indicates that BNL is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 1.65, BNL is in the better half of the industry, outperforming 69.84% of the companies in the same industry.
A Quick Ratio of 1.65 indicates that BNL should not have too much problems paying its short term obligations.
BNL's Quick ratio of 1.65 is fine compared to the rest of the industry. BNL outperforms 72.22% of its industry peers.
Industry RankSector Rank
Current Ratio 1.65
Quick Ratio 1.65
BNL Yearly Current Assets VS Current LiabilitesBNL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M 200M

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3

3. Growth

3.1 Past

BNL shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 32.93%, which is quite impressive.
BNL shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 18.20% yearly.
EPS 1Y (TTM)32.93%
EPS 3Y18.2%
EPS 5YN/A
EPS Q2Q%1100%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%6.79%

3.2 Future

BNL is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -11.08% yearly.
Based on estimates for the next years, BNL will show a small growth in Revenue. The Revenue will grow by 4.00% on average per year.
EPS Next Y-27.91%
EPS Next 2Y-16.08%
EPS Next 3Y-13.85%
EPS Next 5Y-11.08%
Revenue Next Year4.45%
Revenue Next 2Y4.26%
Revenue Next 3Y4.8%
Revenue Next 5Y4%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
BNL Yearly Revenue VS EstimatesBNL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 100M 200M 300M 400M 500M
BNL Yearly EPS VS EstimatesBNL Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 0.2 0.4 0.6 0.8 1

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4

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 14.64, BNL is valued correctly.
BNL's Price/Earnings ratio is rather cheap when compared to the industry. BNL is cheaper than 88.89% of the companies in the same industry.
When comparing the Price/Earnings ratio of BNL to the average of the S&P500 Index (29.63), we can say BNL is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 20.31, the valuation of BNL can be described as rather expensive.
Based on the Price/Forward Earnings ratio, BNL is valued cheaper than 90.48% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of BNL to the average of the S&P500 Index (22.68), we can say BNL is valued inline with the index average.
Industry RankSector Rank
PE 14.64
Fwd PE 20.31
BNL Price Earnings VS Forward Price EarningsBNL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

BNL's Enterprise Value to EBITDA ratio is in line with the industry average.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 13.8
BNL Per share dataBNL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15

4.3 Compensation for Growth

The decent profitability rating of BNL may justify a higher PE ratio.
A cheap valuation may be justified as BNL's earnings are expected to decrease with -13.85% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-16.08%
EPS Next 3Y-13.85%

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4

5. Dividend

5.1 Amount

BNL has a Yearly Dividend Yield of 7.24%, which is a nice return.
BNL's Dividend Yield is a higher than the industry average which is at 18.48.
Compared to an average S&P500 Dividend Yield of 2.29, BNL pays a better dividend.
Industry RankSector Rank
Dividend Yield 7.24%

5.2 History

BNL has been paying a dividend for over 5 years, so it has already some track record.
BNL has decreased its dividend recently.
Dividend Growth(5Y)N/A
Div Incr Years1
Div Non Decr Years1
BNL Yearly Dividends per shareBNL Yearly Dividends per shareYearly Dividends per share 2020 2021 2022 2023 2024 0.2 0.4 0.6 0.8 1

5.3 Sustainability

BNL pays out 151.54% of its income as dividend. This is not a sustainable payout ratio.
DP151.54%
EPS Next 2Y-16.08%
EPS Next 3Y-13.85%
BNL Yearly Income VS Free CF VS DividendBNL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 200M -200M -400M -600M -800M
BNL Dividend Payout.BNL Dividend Payout, showing the Payout Ratio.BNL Dividend Payout.PayoutRetained Earnings

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BROADSTONE NET LEASE INC

NYSE:BNL (2/21/2025, 8:04:00 PM)

After market: 15.96 0 (0%)

15.96

-0.07 (-0.44%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-19 2025-02-19/amc
Earnings (Next)04-29 2025-04-29/amc
Inst Owners88.05%
Inst Owner Change11.57%
Ins Owners0.74%
Ins Owner Change0%
Market Cap3.01B
Analysts74.29
Price Target18.8 (17.79%)
Short Float %1.44%
Short Ratio2.45
Dividend
Industry RankSector Rank
Dividend Yield 7.24%
Yearly Dividend1.11
Dividend Growth(5Y)N/A
DP151.54%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-0.94%
Min EPS beat(2)-10.42%
Max EPS beat(2)8.53%
EPS beat(4)2
Avg EPS beat(4)4.61%
Min EPS beat(4)-83.5%
Max EPS beat(4)103.84%
EPS beat(8)6
Avg EPS beat(8)28.45%
EPS beat(12)9
Avg EPS beat(12)24.81%
EPS beat(16)12
Avg EPS beat(16)19.07%
Revenue beat(2)1
Avg Revenue beat(2)0.08%
Min Revenue beat(2)-0.54%
Max Revenue beat(2)0.7%
Revenue beat(4)1
Avg Revenue beat(4)-2.02%
Min Revenue beat(4)-5.69%
Max Revenue beat(4)0.7%
Revenue beat(8)3
Avg Revenue beat(8)-0.7%
Revenue beat(12)4
Avg Revenue beat(12)-0.64%
Revenue beat(16)5
Avg Revenue beat(16)1.48%
PT rev (1m)-4.44%
PT rev (3m)-3.01%
EPS NQ rev (1m)-2.47%
EPS NQ rev (3m)-2.47%
EPS NY rev (1m)-0.63%
EPS NY rev (3m)-2.69%
Revenue NQ rev (1m)0.9%
Revenue NQ rev (3m)1.01%
Revenue NY rev (1m)0.17%
Revenue NY rev (3m)0.54%
Valuation
Industry RankSector Rank
PE 14.64
Fwd PE 20.31
P/S 7.09
P/FCF N/A
P/OCF 11.03
P/B 1
P/tB 1.27
EV/EBITDA 13.8
EPS(TTM)1.09
EY6.83%
EPS(NY)0.79
Fwd EY4.92%
FCF(TTM)-0.96
FCFYN/A
OCF(TTM)1.45
OCFY9.07%
SpS2.25
BVpS15.91
TBVpS12.57
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 2.69%
ROE 4.72%
ROCE 4.1%
ROIC 3.24%
ROICexc 3.25%
ROICexgc 3.72%
OM 49.73%
PM (TTM) 33.32%
GM 86.94%
FCFM N/A
ROA(3y)2.46%
ROA(5y)2.12%
ROE(3y)4.32%
ROE(5y)3.99%
ROIC(3y)3.24%
ROIC(5y)3.04%
ROICexc(3y)3.26%
ROICexc(5y)3.06%
ROICexgc(3y)3.79%
ROICexgc(5y)3.54%
ROCE(3y)4.11%
ROCE(5y)3.85%
ROICexcg growth 3Y7.32%
ROICexcg growth 5Y4.22%
ROICexc growth 3Y8.32%
ROICexc growth 5Y3.54%
OM growth 3Y5.16%
OM growth 5Y1.49%
PM growth 3Y30.09%
PM growth 5Y3.66%
GM growth 3Y1.82%
GM growth 5Y-0.14%
F-Score5
Asset Turnover0.08
Health
Industry RankSector Rank
Debt/Equity 0.65
Debt/FCF N/A
Debt/EBITDA 5.42
Cap/Depr 306.88%
Cap/Sales 106.99%
Interest Coverage 2.86
Cash Conversion 75.97%
Profit Quality N/A
Current Ratio 1.65
Quick Ratio 1.65
Altman-Z 0.91
F-Score5
WACC6.8%
ROIC/WACC0.48
Cap/Depr(3y)413.21%
Cap/Depr(5y)454.22%
Cap/Sales(3y)145.82%
Cap/Sales(5y)161.17%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)32.93%
EPS 3Y18.2%
EPS 5YN/A
EPS Q2Q%1100%
EPS Next Y-27.91%
EPS Next 2Y-16.08%
EPS Next 3Y-13.85%
EPS Next 5Y-11.08%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%6.79%
Revenue Next Year4.45%
Revenue Next 2Y4.26%
Revenue Next 3Y4.8%
Revenue Next 5Y4%
EBIT growth 1Y-5.75%
EBIT growth 3Y17%
EBIT growth 5Y14.96%
EBIT Next Year66.84%
EBIT Next 3Y24.05%
EBIT Next 5YN/A
FCF growth 1Y63.65%
FCF growth 3Y11.28%
FCF growth 5YN/A
OCF growth 1Y7.83%
OCF growth 3Y14.84%
OCF growth 5Y16.19%