BNL vs ADC

For growth investors, Agree Realty Corporation (ADC) is the stronger pick with 16.

4% revenue growth year-over-year, versus 4. 6% for Broadstone Net Lease, Inc. (BNL). Broadstone Net Lease, Inc. (BNL) offers the better valuation at 39. 8x trailing P/E (27. 0x forward), making it the more compelling value choice. Analysts rate Broadstone Net Lease, Inc. (BNL) a "Buy" — based on 12 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On trailing P/E, Broadstone Net Lease, Inc.

(BNL) is the cheapest at 39. 8x versus Agree Realty Corporation at 43. 2x. On forward P/E, Broadstone Net Lease, Inc. is actually cheaper at 27. 0x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Broadstone Net Lease, Inc. wins at 10. 43x versus Agree Realty Corporation's 113. 96x.

Over the past 5 years, Agree Realty Corporation (ADC) delivered a total return of +30.

5%, compared to +27. 0% for Broadstone Net Lease, Inc. (BNL). Over 10 years, the gap is even starker: ADC returned +137. 5% versus BNL's +60. 1%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Agree Realty Corporation (ADC) is the lower-risk stock at -0.

14β versus Broadstone Net Lease, Inc. 's 0. 25β — meaning BNL is approximately -282% more volatile than ADC relative to the S&P 500. On balance sheet safety, Agree Realty Corporation (ADC) carries a lower debt/equity ratio of 53% versus 86% for Broadstone Net Lease, Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Agree Realty Corporation (ADC) is pulling ahead at 16.

4% versus 4. 6% for Broadstone Net Lease, Inc. (BNL). On earnings-per-share growth, the picture is similar: Agree Realty Corporation grew EPS -0. 6% year-over-year, compared to -41. 9% for Broadstone Net Lease, Inc.. Over a 3-year CAGR, ADC leads at 18. 7% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Agree Realty Corporation (ADC) is the more profitable company, earning 28.

4% net margin versus 22. 4% for Broadstone Net Lease, Inc. — meaning it keeps 28. 4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: BNL leads at 49. 7% versus 47. 4% for ADC. At the gross margin level — before operating expenses — ADC leads at 87. 7%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.

By this metric, Broadstone Net Lease, Inc. (BNL) is the more undervalued stock at a PEG of 10. 43x versus Agree Realty Corporation's 113. 96x. Both stocks trade at elevated growth-adjusted valuations, so expected growth needs to materialise. On forward earnings alone, Broadstone Net Lease, Inc. (BNL) trades at 27. 0x forward P/E versus 39. 0x for Agree Realty Corporation — 12. 0x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for ADC: 9. 2% to $83. 50.

All stocks in this comparison pay dividends.

Broadstone Net Lease, Inc. (BNL) offers the highest yield at 5. 6%, versus 4. 0% for Agree Realty Corporation (ADC).

For long-horizon retirement investors, Agree Realty Corporation (ADC) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β -0.

14), 4. 0% yield, +137. 5% 10Y return). Both have compounded well over 10 years (ADC: +137. 5%, BNL: +60. 1%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

In terms of investment character: BNL is a small-cap income-oriented stock; ADC is a small-cap high-growth stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.