Stock NNN NNN REIT, INC.
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Financials NNN REIT, Inc.

Equities

NNN

US6374171063

Commercial REITs

Real-time Estimate Cboe BZX
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 09:46:10 2024-05-09 am EDT 		5-day change 1st Jan Change
41.87 USD +0.36% Intraday chart for NNN REIT, Inc. +2.53% -3.20%
May. 01 Transcript : NNN REIT, Inc., Q1 2024 Earnings Call, May 01, 2024
May. 01 NNN REIT Q1 Adjusted FFO, Revenue Up; Issues 2024 AFFO Outlook MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 9,203 7,109 8,442 8,179 7,863 7,649 - -
Enterprise Value (EV) 1 12,057 10,063 12,017 12,092 12,219 12,128 12,212 12,317
P/E ratio 34.4 x 33.5 x 31.8 x 24.2 x 20 x 21.1 x 20.4 x 18.9 x
Yield 3.79% 5.06% 4.37% 4.72% 5.17% 5.46% 5.62% 5.81%
Capitalization / Revenue 13.7 x 10.8 x 11.6 x 10.6 x 9.5 x 8.84 x 8.43 x 8.17 x
EV / Revenue 18 x 15.2 x 16.5 x 15.6 x 14.8 x 14 x 13.5 x 13.2 x
EV / EBITDA 19.9 x 16.9 x 18.4 x 17.2 x 16.2 x 15.4 x 14.7 x 14.3 x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 2.13 x 1.66 x 2.16 x 2.01 x 1.89 x 1.84 x 1.83 x 1.83 x
Nbr of stocks (in thousands) 171,638 173,728 175,617 178,733 182,440 183,349 - -
Reference price 2 53.62 40.92 48.07 45.76 43.10 41.72 41.72 41.72
Announcement Date 2/11/20 2/11/21 2/9/22 2/9/23 2/8/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 670.5 660.7 726.4 773.1 828.1 865.4 907.9 936.2
EBITDA 1 605.2 594.2 653.4 705.1 756 788.6 832.4 863.4
EBIT 1 416.3 397.5 426 481.2 517.4 546.4 572.3 592.3
Operating Margin 62.09% 60.17% 58.65% 62.25% 62.47% 63.13% 63.03% 63.26%
Earnings before Tax (EBT) 1 - - - 334.6 392.3 367.1 376.5 384.6
Net income 1 258.2 210.9 264.2 334.6 392.3 362.1 385.8 407.7
Net margin 38.51% 31.92% 36.37% 43.29% 47.38% 41.84% 42.5% 43.55%
EPS 2 1.560 1.220 1.510 1.890 2.160 1.980 2.046 2.210
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 2.030 2.070 2.100 2.160 2.230 2.277 2.346 2.422
Announcement Date 2/11/20 2/11/21 2/9/22 2/9/23 2/8/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 187.3 190.3 190.8 193.5 198.5 204.1 202.6 205.1 216.2 215.4 216.5 219 222.2 224.2 227.1
EBITDA 1 169.8 172 174.9 177.5 180.7 185 185.1 188.4 197.5 195.7 195.7 198.3 200.6 202.8 206.3
EBIT 1 109 114 117.4 121.1 123.4 125.9 125.2 128.9 137.4 135.1 135.8 137.9 139.7 138.5 140.7
Operating Margin 58.23% 59.94% 61.55% 62.59% 62.15% 61.66% 61.78% 62.85% 63.54% 62.7% 62.73% 62.99% 62.86% 61.78% 61.95%
Earnings before Tax (EBT) 1 - 81.37 74.16 88.42 90.66 90.17 98.7 106.8 96.68 94.37 90.99 90.62 91.15 92.65 92.41
Net income 1 65.13 81.37 74.17 88.42 90.66 90.17 98.7 106.8 96.68 94.37 89.43 91.17 92.39 93.8 96.11
Net margin 34.78% 42.76% 38.88% 45.7% 45.67% 44.18% 48.71% 52.06% 44.71% 43.81% 41.32% 41.64% 41.57% 41.84% 42.32%
EPS 2 0.3700 0.4600 0.4200 0.5000 0.5000 0.5000 0.5400 0.5900 0.5300 0.5200 0.4925 0.4960 0.4980 0.4975 0.5100
Dividend per Share 2 0.5300 0.5300 0.5300 0.5500 0.5500 0.5500 0.5500 - 0.5650 - 0.5686 0.5764 0.5788 0.5800 0.5800
Announcement Date 2/9/22 5/3/22 8/3/22 11/2/22 2/9/23 5/2/23 8/2/23 11/1/23 2/8/24 5/1/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,854 2,954 3,575 3,914 4,355 4,479 4,562 4,668
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 4.715 x 4.971 x 5.472 x 5.551 x 5.761 x 5.679 x 5.481 x 5.406 x
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 6.09% 5.29% 6.43% 8.34% 9.48% 8.62% 8.85% 8.93%
ROA (Net income/ Total Assets) - - - - - - - -
Assets 1 - - - - - - - -
Book Value Per Share 2 25.20 24.60 22.20 22.70 22.80 22.70 22.70 22.70
Cash Flow per Share - - - 3.270 - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 2/11/20 2/11/21 2/9/22 2/9/23 2/8/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for NNN REIT, Inc.

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
41.72 USD
Average target price
44.27 USD
Spread / Average Target
+6.11%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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