NNN REIT, Inc. (NNN)

NNN REIT Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	392.79	396.84	392.34	334.63	290.11	228.8
Depreciation & Amortization	259.03	249.19	238.2	223.32	204.51	196.62
Other Amortization	8.98	8.92	7.02	6.43	7.32	8.05
Gain (Loss) on Sale of Assets	-39.86	-42.29	-47.49	-17.44	-23.09	-16.24
Gain (Loss) on Sale of Investments	1.84	2.15	2.47	2.37	3.07	2.3
Asset Writedown	10.53	6.63	5.99	8.31	21.96	37.44
Stock-Based Compensation	12.97	11.56	12.46	17.23	13.77	13.63
Change in Accounts Receivable	-0.46	0.38	-8.31	3.92	22.32	-27.49
Change in Other Net Operating Assets	1.1	1.63	9.32	-0.82	8.09	3.63
Other Operating Activities	0.09	0.5	0.41	0.42	20.37	3.45
Operating Cash Flow	647.01	635.5	612.41	578.36	568.43	450.19
Operating Cash Flow Growth	3.64%	3.77%	5.89%	1.75%	26.26%	-10.27%
Acquisition of Real Estate Assets	-801.8	-572.87	-795.79	-842.87	-553.32	-195.94
Sale of Real Estate Assets	130.76	149.83	116.33	66.96	123.05	53.25
Net Sale / Acq. of Real Estate Assets	-671.03	-423.04	-679.46	-775.91	-430.27	-142.69
Other Investing Activities	-1.64	-1.9	-1.76	-2.24	-2.39	-0.5
Investing Cash Flow	-671.96	-424.34	-680.66	-777.63	-432.18	-142.82
Long-Term Debt Issued	-	1,039	1,361	688	881.17	1,004
Long-Term Debt Repaid	-	-1,028	-916.65	-522.46	-350.63	-770.2
Net Debt Issued (Repaid)	255.7	11.84	444.23	165.54	530.54	233.45
Issuance of Common Stock	194.06	217.58	32.33	253.97	4.05	126.49
Preferred Share Repurchases	-	-	-	-	-345	-
Common Dividends Paid	-431.3	-420.24	-404.46	-380.54	-367.29	-356.41
Preferred Dividends Paid	-	-	-	-	-15	-17.94
Total Dividends Paid	-431.3	-420.24	-404.46	-380.54	-382.29	-374.35
Other Financing Activities	-3.57	-16.44	-5.48	-4.24	-39.47	-26.84
Net Cash Flow	-10.05	3.91	-1.62	-164.54	-95.91	266.12
Cash Interest Paid	183.59	183.43	148.17	140.33	123.38	119.41
Levered Free Cash Flow	523.58	499.25	478.7	452.07	453.66	365.52
Unlevered Free Cash Flow	633.58	605.35	574.12	538.18	532.51	438.37
Change in Working Capital	0.64	2.01	1.01	3.1	30.41	-23.86

Updated Aug 5, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

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