NNN REIT Financial Statements
NYSE: NNNReal EstateReal Estate Investment TrustsUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
NNN REIT revenue and earnings
In fiscal 2025, NNN REIT generated $926.2 million in revenue, up 6.6% from fiscal 2024, its 5th consecutive year of revenue growth. Net income was $389.8 million (-1.8% year over year), for a net margin of 42.1% versus a median of 43.3% in the prior 5 years. Operating margin was 63.6%.
Diluted earnings per share came in at $2.07, down from $2.15. Over the last 5 fiscal years, NNN's revenue has grown at a 7.0% compound annual rate.
Summary generated from market data by MetaCap's automated system. Methodology
NNN REIT income statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 926.21M | 869.27M | 828.11M | 773.05M | 726.41M | 660.68M | 670.49M | 622.66M | 584.93M | 533.65M |
| Revenue growth (YoY) | +6.55% | +4.97% | +7.12% | +6.42% | +9.95% | -1.46% | +7.68% | +6.45% | +9.61% | +10.51% |
| Operating Expenses | 384.95M | 333.68M | 320.49M | 307.96M | 300.40M | 302.43M | 286.43M | 262.97M | 247.43M | 224.58M |
| Operating Income | 589.49M | 577.87M | 555.10M | 482.54M | 449.10M | 374.49M | 416.52M | 424.76M | 374.16M | 336.25M |
| Interest Expense | 203.96M | 184.02M | 163.90M | 148.06M | 137.87M | 129.43M | 120.02M | 115.85M | 109.11M | 96.35M |
| Other Income (Expense) | -199.71M | -181.04M | -162.76M | -147.92M | -158.99M | -145.69M | -116.91M | -132.28M | -108.79M | -96.75M |
| Pretax Income | — | — | — | — | — | — | — | — | 228.72M | 212.32M |
| Income Tax | — | — | — | — | — | 0 | 0 | 0 | 0 | 0 |
| Net Income | 389.78M | 396.83M | 392.34M | 334.63M | 290.11M | 228.80M | 299.18M | 292.45M | 264.97M | 239.50M |
| Net Income growth (YoY) | -1.78% | +1.15% | +17.25% | +15.34% | +26.80% | -23.52% | +2.30% | +10.37% | +10.64% | +21.06% |
| EPS (Basic) | 2.07 | 2.16 | 2.16 | 1.89 | 1.51 | 1.22 | 1.56 | 1.65 | 1.45 | 1.39 |
| EPS (Diluted) | 2.07 | 2.15 | 2.16 | 1.89 | 1.51 | 1.22 | 1.56 | 1.65 | 1.45 | 1.38 |
| Shares Outstanding (Basic) | 187.61M | 183.69M | 181.20M | 176.40M | 174.71M | 172.11M | 164.69M | 155.74M | 149.11M | 144.18M |
| Shares Outstanding (Diluted) | 187.99M | 184.04M | 181.69M | 177.07M | 174.82M | 172.22M | 165.08M | 156.30M | 149.43M | 144.66M |
| EBITDA | 857.92M | 827.55M | 793.73M | 706.37M | 654.32M | 571.11M | 605.39M | 599.16M | 547.88M | 485.35M |
| Operating Margin | 63.64% | 66.48% | 67.03% | 62.42% | 61.82% | 56.68% | 62.12% | 68.22% | 63.97% | 63.01% |
| Net Margin | 42.08% | 45.65% | 47.38% | 43.29% | 39.94% | 34.63% | 44.62% | 46.97% | 45.30% | 44.88% |
This table shows 10 annual periods of NNN REIT's income statement, from FY 2025 back to FY 2016, across 15 line items including revenue, operating expenses, operating income. Values in USD; B = billions, M = millions. Fiscal periods follow NNN's reporting calendar. What is a income statement?