Broadstone Net Lease Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Broadstone Net Lease Inc reported net income of $99.4M (-41.2% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Lease revenues, net | $454.1M | $431.8M | $442.9M | $407.5M |
| Depreciation and amortization | $164.1M | $156.2M | $158.6M | $154.8M |
| Property and operating expense | $23.0M | $24.7M | $22.6M | $21.8M |
| General and administrative | $38.9M | $38.0M | $39.4M | $37.4M |
| Provision for impairment of investment in rental properties | $39.7M | $49.0M | $31.3M | $5.5M |
| Total operating expenses | $265.7M | $267.9M | $251.9M | $219.5M |
| Interest income | $389.0K | $994.0K | $512.0K | $44.0K |
| Interest expense | ($94.5M) | ($74.1M) | ($80.1M) | ($78.7M) |
| Gain on sale of real estate | $12.6M | $73.2M | $54.3M | $16.0M |
| Income taxes | ($1.2M) | ($1.2M) | ($763.0K) | ($1.3M) |
| Other (expenses) income | ($6.4M) | $6.2M | ($1.7M) | $5.7M |
| Net income attributable to non-controlling interests | ($2.9M) | ($6.5M) | ($7.8M) | ($7.4M) |
| Net income attributable to Broadstone Net Lease, Inc. | $96.5M | $162.4M | $155.5M | $122.1M |
| Basic (in shares) | 188.1M | 187.5M | 186.6M | 169.8M |
| Diluted (in shares) | 197.6M | 196.6M | 196.3M | 180.2M |
| Basic (in dollars per share) | $0.51 | $0.86 | $0.83 | $0.72 |
| Diluted (in dollars per share) | $0.50 | $0.86 | $0.83 | $0.72 |
| Net income | $99.4M | $169.0M | $163.3M | $129.5M |
| Change in fair value of interest rate swaps | ($36.2M) | $124.0K | ($17.3M) | $90.6M |
| Realized loss on interest rate swaps | $6.1M | $209.0K | — | — |
| Comprehensive income | $69.3M | $169.3M | $147.9M | $222.5M |
| Comprehensive income attributable to non-controlling interests | ($1.6M) | ($6.6M) | ($7.1M) | ($12.7M) |
| Comprehensive income attributable to Broadstone Net Lease, Inc. | $67.7M | $162.8M | $140.8M | $209.8M |
| Line item | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 | Mar 31, 2025 · Q1 |
|---|---|---|---|---|
| Lease revenues, net | $121.4M | $114.2M | $113.0M | $108.7M |
| Depreciation and amortization | $41.5M | $40.2M | $42.6M | $39.5M |
| Property and operating expense | $6.2M | $6.2M | $5.0M | $5.5M |
| General and administrative | $10.3M | $10.0M | $9.6M | $9.7M |
| Provision for impairment of investment in rental properties | $0 | $7.0M | $11.9M | $16.1M |
| Total operating expenses | $58.1M | $63.4M | $69.1M | $70.8M |
| Interest income | $49.0K | $182.0K | $122.0K | $99.0K |
| Interest expense | ($25.3M) | ($28.2M) | ($21.1M) | ($20.1M) |
| Gain on sale of real estate | $7.1M | $3.3M | $566.0K | $405.0K |
| Income taxes | ($311.0K) | ($208.0K) | ($199.0K) | ($355.0K) |
| Other income (expenses) | $1.4M | $1.3M | ($3.4M) | ($487.0K) |
| Net income attributable to non-controlling interests | ($27.0K) | ($599.0K) | $330.0K | ($750.0K) |
| Net income attributable to Broadstone Net Lease, Inc. | $46.4M | $26.5M | $20.2M | $16.7M |
| Basic (in shares) | 190.4M | 188.1M | 188.0M | 187.9M |
| Diluted (in shares) | 199.8M | 197.6M | 197.1M | 196.9M |
| Basic (in dollars per share) | $0.24 | $0.14 | $0.11 | $0.09 |
| Diluted (in dollars per share) | $0.24 | $0.14 | $0.10 | $0.09 |
| Net income | $46.4M | $27.1M | $19.8M | $17.5M |
| Change in fair value of interest rate swaps | $2.6M | ($5.0M) | ($10.5M) | ($19.9M) |
| Realized loss (gain) on interest rate swaps | $31.0K | $6.1M | ($6.0K) | — |
| Comprehensive income (loss) | $49.0M | $28.2M | $9.4M | ($2.4M) |
| Comprehensive (income) loss attributable to non-controlling interests | ($136.0K) | ($646.0K) | $775.0K | $103.0K |
| Comprehensive income (loss) attributable to Broadstone Net Lease, Inc. | $48.9M | $27.5M | $10.1M | ($2.3M) |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Total accounted for using the operating method | $5.3B | $5.0B | $4.9B | $5.0B |
| Less accumulated depreciation | ($772.6M) | ($672.5M) | ($626.6M) | ($534.0M) |
| Accounted for using the operating method, net | $4.5B | $4.3B | $4.3B | $4.5B |
| Accounted for using the direct financing method | $25.5M | $26.2M | $26.6M | $27.0M |
| Accounted for using the sales-type method | $14.4M | $571.0K | $572.0K | $571.0K |
| Property under development | $265.8M | $18.8M | $95.0M | — |
| Investment in rental property, net | $4.8B | $4.3B | $4.4B | $4.5B |
| Cash and cash equivalents | $30.5M | $14.8M | $19.5M | $21.8M |
| Accrued rental income | $178.9M | $162.7M | $152.7M | $135.7M |
| Tenant and other receivables, net | $4.4M | $3.3M | $1.5M | $1.3M |
| Prepaid expenses and other assets | $55.9M | $41.6M | $36.7M | $49.7M |
| Interest rate swap, assets | $18.2M | $46.2M | $46.1M | $63.4M |
| Goodwill | $339.8M | $339.8M | $339.8M | $339.8M |
| Intangible lease assets, net | $268.0M | $267.6M | $288.2M | $329.6M |
| Total assets | $5.7B | $5.2B | $5.3B | $5.5B |
| Unsecured revolving credit facility | $266.0M | $93.0M | $90.4M | $197.3M |
| Mortgages, net | $56.7M | $76.8M | $79.1M | $86.6M |
| Unsecured term loans, net | $994.2M | $897.2M | $895.9M | $894.7M |
| Senior unsecured notes, net | $1.2B | $846.1M | $845.3M | $844.6M |
| Interest rate swap, liabilities | $1.5M | — | — | $0 |
| Accounts payable and other liabilities | $60.1M | $49.0M | $47.5M | $47.5M |
| Dividends payable | $59.5M | $58.3M | $56.9M | $54.5M |
| Accrued interest payable | $13.5M | $5.8M | $5.7M | $7.1M |
| Intangible lease liabilities, net | $41.5M | $48.7M | $53.5M | $62.9M |
| Total liabilities | $2.7B | $2.1B | $2.1B | $2.2B |
| Preferred stock, $0.001 par value; 20,000 shares authorized, no shares issued or outstanding | 0 | 0 | 0 | 0 |
| Common stock, $0.00025 par value; 500,000 shares authorized, 191,423 and 188,626 shares issued and outstanding at December 31, 2025 and 2024, respectively | 48.0K | 47.0K | 47.0K | 47.0K |
| Additional paid-in capital | $3.5B | $3.5B | $3.4B | $3.4B |
| Cumulative distributions in excess of retained earnings | ($620.2M) | ($496.5M) | ($440.7M) | ($386.0M) |
| Accumulated other comprehensive income | $19.8M | $49.7M | $49.3M | $59.5M |
| Total Broadstone Net Lease, Inc. equity | $2.9B | $3.0B | $3.0B | $3.1B |
| Non-controlling interests | $131.5M | $137.7M | $145.1M | $169.6M |
| Total equity | $3.0B | $3.1B | $3.2B | $3.3B |
| Total liabilities and equity | $5.7B | $5.2B | $5.3B | $5.5B |
| Line item | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 |
|---|---|---|---|---|
| Total accounted for using the operating method | $5.4B | $5.1B | $5.0B | $5.0B |
| Less accumulated depreciation | ($803.7M) | ($745.3M) | ($721.2M) | ($695.0M) |
| Accounted for using the operating method, net | $4.6B | $4.4B | $4.3B | $4.3B |
| Accounted for using the direct financing method | $25.3M | $25.7M | $25.8M | $26.0M |
| Accounted for using the sales-type method | $14.4M | $14.4M | $569.0K | $570.0K |
| Property under development | $329.3M | $179.2M | $116.6M | $35.5M |
| Investment in rental property, net | $5.0B | $4.6B | $4.5B | $4.4B |
| Cash and cash equivalents | $20.3M | $82.0M | $20.8M | $9.6M |
| Accrued rental income | $184.7M | $174.9M | $172.3M | $166.4M |
| Tenant and other receivables, net | $3.6M | $3.6M | $3.6M | $2.6M |
| Prepaid expenses and other assets | $56.2M | $59.9M | $55.8M | $52.3M |
| Interest rate swap, assets | $20.0M | $19.6M | $23.5M | $29.7M |
| Goodwill | $339.8M | $339.8M | $339.8M | $339.8M |
| Intangible lease assets, net | $262.0M | $258.1M | $256.7M | $264.1M |
| Total assets | $5.8B | $5.5B | $5.3B | $5.2B |
| Unsecured revolving credit facility | $397.6M | $95.8M | $197.9M | $174.1M |
| Mortgages, net | $56.2M | $57.2M | $75.7M | $76.3M |
| Unsecured term loans, net | $994.8M | $994.5M | $994.0M | $893.5M |
| Senior unsecured notes, net | $1.2B | $1.2B | $846.4M | $846.3M |
| Interest rate swap, liabilities | $637.0K | $2.0M | $7.6M | $3.4M |
| Accounts payable and other liabilities | $61.7M | $55.7M | $57.4M | $48.4M |
| Dividends payable | $59.9M | $58.7M | $58.5M | $58.2M |
| Accrued interest payable | $21.8M | $9.5M | $8.5M | $9.4M |
| Intangible lease liabilities, net | $39.9M | $43.1M | $44.8M | $46.8M |
| Total liabilities | $2.8B | $2.5B | $2.3B | $2.2B |
| Preferred stock, $0.001 par value; 20,000 shares authorized, no shares issued or outstanding | 0 | 0 | 0 | 0 |
| Common stock, $0.00025 par value; 500,000 shares authorized, 189,216 and 188,626 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively | 48.0K | 47.0K | 47.0K | 47.0K |
| Additional paid-in capital | $3.5B | $3.5B | $3.5B | $3.5B |
| Cumulative distributions in excess of retained earnings | ($631.0M) | ($597.6M) | ($571.3M) | ($536.1M) |
| Accumulated other comprehensive income | $20.9M | $19.2M | $18.0M | $29.7M |
| Total Broadstone Net Lease, Inc. equity | $2.9B | $2.9B | $2.9B | $2.9B |
| Non-controlling interests | $128.9M | $127.9M | $129.1M | $131.1M |
| Total equity | $3.0B | $3.0B | $3.0B | $3.1B |
| Total liabilities and equity | $5.8B | $5.5B | $5.3B | $5.2B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $99.4M | $169.0M | $163.3M | $129.5M |
| Depreciation and amortization including intangibles associated with investment in rental property | $159.6M | $151.8M | $152.8M | $150.0M |
| Provision for impairment of investment in rental properties | $39.7M | $49.0M | $31.3M | $5.5M |
| Amortization of debt issuance costs and original issuance discounts charged to interest expense | $5.5M | $3.9M | $3.9M | $3.6M |
| Stock-based compensation expense | $9.6M | $7.4M | $6.4M | $5.3M |
| Settlement of interest rate swaps | ($6.7M) | — | $0 | $0 |
| Straight-line rent, direct financing and sales-type lease adjustments | ($17.5M) | ($19.0M) | ($22.3M) | ($20.5M) |
| Gain on sale of real estate | ($12.6M) | ($73.2M) | ($54.3M) | ($16.0M) |
| Other non-cash items | $9.0M | ($10.6M) | ($757.0K) | ($2.2M) |
| Tenant and other receivables | ($1.1M) | ($1.7M) | $780.0K | $659.0K |
| Prepaid expenses and other assets | $2.5M | $480.0K | ($352.0K) | $199.0K |
| Accounts payable and other liabilities | $4.5M | ($905.0K) | ($8.2M) | ($1.1M) |
| Accrued interest payable | $7.7M | $135.0K | ($1.4M) | $598.0K |
| Net cash provided by operating activities | $299.5M | $276.3M | $271.1M | $255.9M |
| Acquisition of rental property | ($434.2M) | ($288.6M) | ($27.7M) | ($884.8M) |
| Investment in property under development including capitalized interest of $5,271, $3,871, and $1,469 in 2025, 2024 and 2023, respectively | ($303.7M) | ($108.5M) | ($96.8M) | — |
| Capital expenditures and improvements | ($29.7M) | ($16.8M) | ($46.3M) | ($31.4M) |
| Proceeds from disposition of rental property, net | $93.5M | $354.4M | $195.0M | $56.4M |
| Change in deposits on investments in rental property | ($1.2M) | ($200.0K) | $125.0K | $63.0K |
| Net cash (used in) provided by investing activities | ($675.3M) | ($59.7M) | $24.3M | ($859.6M) |
| Proceeds from issuance of common stock, net of $870, $996, and $180 of offering costs, discounts, and commissions in 2025, 2024 and 2023, respectively | $37.9M | ($996.0K) | ($180.0K) | $495.6M |
| Contributions from non-controlling interests | $4.4M | $1.0M | — | — |
| Borrowings on senior unsecured notes and unsecured term loans | $844.8M | — | — | — |
| Principal payments on mortgages and unsecured term loans | ($420.2M) | ($2.3M) | ($7.5M) | ($260.3M) |
| Borrowings on unsecured revolving credit facility | $803.3M | $256.5M | $215.5M | $900.3M |
| Repayments on unsecured revolving credit facility | ($633.8M) | ($248.0M) | ($324.0M) | ($800.0M) |
| Cash distributions paid to stockholders | ($218.8M) | ($216.8M) | ($207.5M) | ($181.2M) |
| Cash distributions paid to non-controlling interests | ($10.1M) | ($10.7M) | ($11.1M) | ($11.3M) |
| Debt issuance costs paid | ($14.2M) | — | — | — |
| Net cash provided by (used in) financing activities | $393.4M | ($221.2M) | ($334.8M) | $636.0M |
| Net increase (decrease) in cash and cash equivalents and restricted cash | $17.6M | ($4.6M) | ($39.4M) | $32.3M |
| Cash and cash equivalents and restricted cash at beginning of period | $16.0M | $20.6M | $60.0M | $27.8M |
| Cash and cash equivalents and restricted cash at end of period | $33.6M | $16.0M | $20.6M | $60.0M |
| Cash and cash equivalents at beginning of period | $14.8M | $19.5M | $21.8M | $21.7M |
| Restricted cash at beginning of period | $1.1M | $1.1M | $38.3M | $6.1M |
| Cash and cash equivalents and restricted cash at beginning of period | $33.6M | $16.0M | $20.6M | $60.0M |
| Cash and cash equivalents at end of period | $30.5M | $14.8M | $19.5M | $21.8M |
| Restricted cash at end of period | $3.1M | $1.1M | $1.1M | $38.3M |
| Line item | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD | Mar 31, 2025 · Q1 |
|---|---|---|---|---|
| Net income | $46.4M | $64.4M | $37.3M | $17.5M |
| Depreciation and amortization including intangibles associated with investment in rental property | $40.5M | $118.9M | $79.8M | $38.4M |
| Provision for impairment of investment in rental properties | $0 | $35.1M | $28.1M | $16.1M |
| Amortization of debt issuance costs and original issuance discounts charged to interest expense | $1.6M | $3.9M | $2.6M | $1.2M |
| Stock-based compensation expense | $2.6M | $7.1M | $4.6M | $2.1M |
| Straight-line rent, direct financing and sales-type lease adjustments | ($5.6M) | ($13.5M) | ($9.3M) | ($3.7M) |
| Gain on sale of real estate | ($7.1M) | ($4.2M) | ($971.0K) | ($405.0K) |
| Other non-cash items | ($2.5M) | $7.9M | $3.2M | $470.0K |
| Tenant and other receivables | $771.0K | ($291.0K) | ($323.0K) | $700.0K |
| Prepaid expenses and other assets | ($4.7M) | ($2.6M) | ($939.0K) | ($36.0K) |
| Accounts payable and other liabilities | ($4.1M) | $1.3M | $3.9M | ($4.6M) |
| Accrued interest payable | $8.3M | $3.7M | $2.7M | $3.6M |
| Net cash provided by operating activities | $76.1M | $214.9M | $150.7M | $71.5M |
| Acquisition of rental property | ($59.0M) | ($255.8M) | ($115.0M) | ($60.5M) |
| Investment in property under development including capitalized interest of $3,016 and $322 in 2026 and 2025, respectively | ($112.9M) | ($165.5M) | ($102.8M) | ($16.7M) |
| Capital expenditures and improvements | ($1.4M) | ($23.1M) | ($17.0M) | ($14.3M) |
| Proceeds from disposition of rental property, net | $11.2M | $58.6M | $20.3M | $7.5M |
| Change in deposits on investments in rental property | ($322.0K) | ($4.8M) | ($2.2M) | ($1.3M) |
| Net cash used in investing activities | ($162.4M) | ($390.6M) | ($216.6M) | ($85.3M) |
| Offering costs, discounts, and commissions | $0 | ($215.0K) | ($178.0K) | ($146.0K) |
| Contributions from non-controlling interests | $43.0K | $1.7M | $674.0K | — |
| Proceeds from unsecured term loans | $0 | $844.8M | $500.0M | $400.0M |
| Principal payments on mortgages and unsecured term loans | ($501.0K) | ($419.7M) | ($401.2M) | ($400.6M) |
| Borrowings on unsecured revolving credit facility | $212.5M | $514.3M | $333.3M | $145.3M |
| Repayments on unsecured revolving credit facility | ($79.5M) | ($513.8M) | ($232.0M) | ($64.5M) |
| Cash distributions paid to stockholders | ($55.7M) | ($163.9M) | ($111.4M) | ($56.2M) |
| Cash distributions paid to non-controlling interests | ($2.5M) | ($7.8M) | ($5.1M) | ($2.7M) |
| Debt issuance costs paid | ($5.0K) | ($12.4M) | ($12.3M) | ($12.3M) |
| Net cash provided by financing activities | $74.4M | $243.0M | $71.8M | $8.9M |
| Net decrease in cash and cash equivalents and restricted cash | ($12.0M) | $67.3M | $6.0M | ($5.0M) |
| Cash and cash equivalents at beginning of period | $30.5M | $14.8M | $14.8M | $14.8M |
| Restricted cash at beginning of period | $3.1M | $1.1M | $1.1M | $1.1M |
| Cash and cash equivalents and restricted cash at beginning of period | $33.6M | $16.0M | $16.0M | $16.0M |
| Cash and cash equivalents at end of period | $20.3M | $82.0M | $20.8M | $9.6M |
| Restricted cash at end of period | $1.4M | — | $1.2M | $1.4M |
| Cash and cash equivalents and restricted cash at end of period | $21.7M | $83.3M | $22.0M | $11.0M |
Broadstone Net Lease Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.