Broadstone Net Lease (BNL) Financial Statements & Analysis

Broadstone Net Lease (BNL) Income Statement

Broadstone Net Lease reported revenue of $459.14M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 6.3% from $431.80M a year earlier. Net income was $102.91M, down 36.6% year over year, a net margin of 22.4%. Gross margin was 23.5% and operating margin 49.7%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $122.31M, up 8.3% from the same quarter a year earlier.

Broadstone Net Lease Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Broadstone Net Lease, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	459.14	431.80	448.09	408.94	382.88	323.71	298.82	237.48	181.56
Cost of Revenue	351.14	24.74	339.83	331.39	18.46	284.12	241.88	185.67	136.02
Gross Profit	108.00	407.06	108.26	77.55	364.42	39.59	56.93	51.81	45.54
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	-
Selling, General & Administrative	0.00	37.99	0.00	0.00	36.37	0.00	0.00	0.00	0.00
Operating Expenses	-120.20	194.17	-114.00	-116.01	168.46	-100.16	-81.50	-58.80	-41.95
Operating Income	228.20	212.89	222.26	193.56	195.96	139.75	138.43	110.61	87.49
Other Income/Expense
Interest Income	0.39	0.99	0.51	0.04	0.02	0.02	0.01	0.18	0.47
Interest Expense	94.47	74.08	80.05	78.65	64.15	76.14	72.53	52.86	34.75
Other Income/Expense	-121.21	30.35	-56.51	-68.50	-20.65	-82.54	-50.90	-35.50	-27.94
Income
Income Before Tax	106.99	170.16	165.76	125.06	111.17	57.22	87.53	75.11	59.56
Income Tax Expense	1.15	1.18	0.76	1.28	1.64	0.94	2.42	0.00	0.00
Net Income	102.91	162.44	157.16	116.43	102.43	51.18	79.39	69.38	54.80
Net Income - Continuous Operations	102.91	168.99	157.16	116.43	109.53	51.18	79.39	69.38	54.80
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	377.21	400.42	430.11	354.07	307.41	253.38	267.69	209.13	149.34
EBIT	233.50	244.24	244.13	202.06	175.32	-	-	-	-
Depreciation & Amortization	164.09	156.18	158.63	154.81	132.10	132.69	108.82	83.99	62.26
Earnings Per Share
Basic EPS	1.00	1.00	1.00	1.00	1.00	-	1.00	-	-
Diluted EPS	1.00	1.00	1.00	1.00	1.00	-	1.00	-	-
Basic Shares Outstanding	188.12	187.45	186.62	169.84	153.06	117.15	153.12	153.12	133.91
Diluted Shares Outstanding	197.57	196.62	196.32	180.20	163.97	128.80	153.12	153.12	146.14

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Broadstone Net Lease Financial Statements

What was Broadstone Net Lease's revenue in fiscal 2025?

Broadstone Net Lease reported revenue of $459.14M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 6.3% from $431.80M a year earlier.

Is Broadstone Net Lease profitable?

Yes. Broadstone Net Lease earned net income of $102.91M in fiscal 2025, a net margin of 22.4%. In fiscal 2024 it earned $162.44M.

What is Broadstone Net Lease's operating margin?

Broadstone Net Lease's operating income was $228.20M on revenue of $459.14M in fiscal 2025, an operating margin of 49.7%, compared with 49.3% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition