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	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	398.92	396.84	392.34	334.63	290.11	228.8
Depreciation & Amortization	253.19	249.19	238.2	223.32	204.51	196.62
Other Amortization	9.21	8.92	7.02	6.43	7.32	8.05
Gain (Loss) on Sale of Assets	-41.28	-42.29	-47.49	-17.44	-23.09	-16.24
Gain (Loss) on Sale of Investments	1.98	2.15	2.47	2.37	3.07	2.3
Asset Writedown	6.94	6.63	5.99	8.31	21.96	37.44
Stock-Based Compensation	12.87	11.56	12.46	17.23	13.77	13.63
Change in Accounts Receivable	-0.85	0.38	-8.31	3.92	22.32	-27.49
Change in Other Net Operating Assets	6.59	1.63	9.32	-0.82	8.09	3.63
Other Operating Activities	0.5	0.5	0.41	0.42	20.37	3.45
Operating Cash Flow	648.07	635.5	612.41	578.36	568.43	450.19
Operating Cash Flow Growth	4.14%	3.77%	5.89%	1.75%	26.26%	-10.27%
Acquisition of Real Estate Assets	-687.98	-572.87	-795.79	-842.87	-553.32	-195.94
Sale of Real Estate Assets	146.83	149.83	116.33	66.96	123.05	53.25
Net Sale / Acq. of Real Estate Assets	-541.15	-423.04	-679.46	-775.91	-430.27	-142.69
Other Investing Activities	-1.7	-1.9	-1.76	-2.24	-2.39	-0.5
Investing Cash Flow	-541.91	-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)	143.94	11.84	444.23	165.54	530.54	233.45
Issuance of Common Stock	196.54	217.58	32.33	253.97	4.05	126.49
Preferred Share Repurchases	-	-	-	-	-345	-
Common Dividends Paid	-425.89	-420.24	-404.46	-380.54	-367.29	-356.41
Preferred Dividends Paid	-	-	-	-	-15	-17.94
Total Dividends Paid	-425.89	-420.24	-404.46	-380.54	-382.29	-374.35
Other Financing Activities	-16.36	-16.44	-5.48	-4.24	-39.47	-26.84
Net Cash Flow	4.4	3.91	-1.62	-164.54	-95.91	266.12
Cash Interest Paid	182.13	183.43	148.17	140.33	123.38	119.41
Levered Free Cash Flow	524.09	499.25	478.7	452.07	453.66	365.52
Unlevered Free Cash Flow	632.17	605.35	574.12	538.18	532.51	438.37
Change in Net Working Capital	-20.68	-5.04	-0.53	1.17	-33.73	20.88

Updated May 1, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

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