NNN REIT Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Property Revenue	924.38	867.47	826.09	771.62	723.86
Service and Other Revenue	1.83	1.8	2.02	1.44	2.55
Revenue	926.21	869.27	828.11	773.05	726.41
Revenue Growth (YoY)	6.55%	4.97%	7.12%	6.42%	9.95%
Property Expenses	37.38	32.32	28.38	26.28	28.39
Total Property Expenses	37.38	32.32	28.38	26.28	28.39
Gross Profit	888.83	836.95	799.73	746.77	698.02
Selling, General & Admin	50.04	44.96	47.2	49.22	44.64
Depreciation & Amortization Expenses	268.44	249.68	238.63	223.83	205.22
Other Operating Expenses	29.09	6.73	6.29	8.63	22.16
Operating Income	589.49	577.87	555.1	482.54	449.1
Net Gains on Disposal of Properties	48.22	42.29	47.49	17.44	23.09
Interest Income	4.25	2.98	1.13	0.15	0.22
Interest Expense	-203.96	-184.02	-163.9	-148.07	-137.87
Other Non-Operating Income (Expense)	-	-	-	-	-21.33
Total Non-Operating Income (Expense)	-151.49	-138.75	-115.28	-130.47	-135.89
Pretax Income	438	439.13	439.83	352.06	313.2
Net Income	389.78	396.84	392.34	334.63	264.22
Minority Interest in Earnings	-	-	-	-0.01	-0
Net Income Attributable to Preferred Dividends	-	-	-	-	25.9
Net Income to Common	389.78	396.84	392.34	334.63	264.22
Net Income Growth	-1.78%	1.15%	17.25%	26.65%	25.30%
Shares Outstanding (Basic)	188	184	181	176	175
Shares Outstanding (Diluted)	188	184	182	177	175
Shares Change (YoY)	2.14%	1.30%	2.61%	1.29%	1.51%
EPS (Basic)	2.07	2.16	2.16	1.89	1.51
EPS (Diluted)	2.07	2.15	2.16	1.89	1.51
EPS Growth	-3.72%	-0.46%	14.29%	25.17%	23.77%
Free Cash Flow	-269.95	62.63	-183.38	-264.52	15.1
Free Cash Flow Growth	-	-	-	-	-94.06%
Free Cash Flow Per Share	-1.44	0.34	-1.01	-1.49	0.09
Dividends Per Share	2.360	2.290	2.230	2.160	2.100
Dividend Growth	3.06%	2.69%	3.24%	2.86%	1.45%
Gross Margin	95.96%	96.28%	96.57%	96.60%	96.09%
Operating Margin	63.64%	66.48%	67.03%	62.42%	61.82%
Profit Margin	42.08%	45.65%	47.38%	43.29%	39.94%
FCF Margin	-29.15%	7.20%	-22.14%	-34.22%	2.08%
EBITDA	857.93	827.55	793.73	706.37	654.32
EBITDA Margin	92.63%	95.20%	95.85%	91.37%	90.08%
EBIT	589.49	577.87	555.1	482.54	449.1
EBIT Margin	63.64%	66.48%	67.03%	62.42%	61.82%

Updated Feb 11, 2026. Data Source: Fiscal.ai. Real Estate template. Financial Sources.

SEC Filings: 10-K · 10-Q