NNN Reit Income Statement
NNN / Real Estate|15 years of annual SEC 10-K data (FY2011-FY2025)
Line items include revenue, cost of goods sold, gross profit, operating expenses, interest, taxes, and net income with per-share data across 15 fiscal years. All figures from audited SEC 10-K filings.
NNN Reit reported $926M in revenue and $390M in net income for FY2025. Revenue has grown at a 9.5% compound annual rate over the past 14 years.
Based on SEC 10-K filings.
Key Data Points
- Altman Z-Score 0.59 (distress zone, below 1.8 threshold)
- Strong profit margin: 43.2%
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
| Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $926.2M | $869.3M | $828.1M | $773.1M | $726.4M | $660.7M | $670.5M | $622.7M | $584.9M | $533.6M | $482.9M | $434.9M | $393.5M | $332.6M | $258.7M |
| SG&A Expense | $46.9M | $44.3M | $43.7M | $41.7M | $44.6M | $38.2M | $37.7M | $34.2M | $33.8M | $36.5M | $34.7M | $32.5M | $31.1M | $31.8M | $28.8M |
| Operating Income | $589.5M | $577.9M | $555.1M | $482.5M | $449.1M | $374.5M | $416.5M | $424.8M | $374.2M | $336.3M | $288.7M | $266.2M | $239.9M | $203.3M | $158.8M |
| Interest Expense | $204.0M | $184.0M | $163.9M | $148.1M | $137.9M | $129.4M | $120.0M | $115.8M | $109.1M | $96.4M | $90.0M | $85.5M | $85.8M | $83.8M | $75.5M |
| Income Tax | - | - | - | - | - | $0 | $0 | $0 | $0 | $0 | $10.3M | -$75.0K | $74.0K | -$6.9M | $899.0K |
| Net Income | $389.8M | $396.8M | $392.3M | $334.6M | $290.1M | $228.8M | $299.2M | $292.4M | $265.0M | $239.5M | $197.8M | $190.6M | $160.1M | $142.0M | $92.3M |
| EPS (Basic) | $2.16 | $1.89 | $1.51 | $1.22 | $1.56 | $1.65 | $1.45 | $1.39 | $1.21 | $1.24 | $1.11 | $1.13 | $0.96 | $0.80 | $0.60 |
| EPS (Diluted) | $2.16 | $1.89 | $1.51 | $1.22 | $1.56 | $1.65 | $1.45 | $1.38 | $1.20 | $1.24 | $1.10 | $1.11 | $0.96 | $0.80 | $0.60 |
| Shares Outstanding | 187.5M | 182.5M | 181.4M | 175.6M | 175.2M | 171.7M | 161.5M | 153.6M | 147.1M | 141.0M | 132.0M | 122.0M | 111.6M | 104.8M | 83.6M |
| Operating Margin | 63.6% | 66.5% | 67.0% | 62.4% | 61.8% | 56.7% | 62.1% | 68.2% | 64.0% | 63.0% | 59.8% | 61.2% | 61.0% | 61.1% | 61.4% |
| Profit Margin | 42.1% | 45.6% | 47.4% | 43.3% | 39.9% | 34.6% | 44.6% | 47.0% | 45.3% | 44.9% | 41.0% | 43.8% | 40.7% | 42.7% | 35.7% |