Comprehensive Stock Comparison
Compare Four Corners Property Trust, Inc. (FCPT) vs NNN REIT, Inc. (NNN) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
Selected Stocks
Add up to 10 tickers. Use presets or search to get started.
Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | FCPT | 9.7% revenue growth vs NNN's 6.6% |
| Value | NNN | PEG 1.99 vs 117.82 |
| Quality / Margins | NNN | 42.1% net margin vs FCPT's 38.2% |
| Stability / Safety | FCPT | Beta 0.22 vs NNN's 0.25 |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | NNN | +12.4% vs FCPT's -6.3% |
| Efficiency (ROA) | NNN | 4.2% ROA vs FCPT's 3.8%, ROIC 6.7% vs 4.5% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Four Corners Property Trust is a real estate investment trust that acquires and leases single-tenant restaurant properties to established operators. It generates revenue primarily through long-term net leases — with over 90% of its portfolio in restaurant properties — collecting predictable rental income from tenants who cover most property expenses. The company's competitive advantage lies in its specialized focus on restaurant real estate and its portfolio of properties leased to creditworthy national brands with strong unit economics.
NNN REIT is a real estate investment trust that owns and operates a diversified portfolio of single-tenant retail properties across the United States. It generates revenue primarily through long-term net leases — collecting predictable rental income from tenants who cover most property expenses — with convenience stores, restaurants, and automotive service centers representing its largest tenant categories. The company's competitive advantage lies in its disciplined property selection, long-term lease structures averaging over 10 years, and diversified tenant base that provides stable cash flow through economic cycles.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
NNN leads in 5 of 6 categories — strongest in Financial Metrics and Valuation Metrics. 1 category is tied.
Financial Metrics (TTM)
NNN is the larger business by revenue, generating $926M annually — 3.1x FCPT's $294M. Profitability is closely matched — net margins range from 42.1% (NNN) to 38.2% (FCPT).
| Metric | FCPTFour Corners Prop… | NNNNNN REIT, Inc. |
|---|---|---|
| RevenueTrailing 12 months | $294M | $926M |
| EBITDAEarnings before interest/tax | $224M | $856M |
| Net IncomeAfter-tax profit | $112M | $390M |
| Free Cash FlowCash after capex | $144M | $541M |
| Gross MarginGross profit ÷ Revenue | +95.4% | +96.0% |
| Operating MarginEBIT ÷ Revenue | +55.7% | +63.6% |
| Net MarginNet income ÷ Revenue | +38.2% | +42.1% |
| FCF MarginFCF ÷ Revenue | +49.0% | +58.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | +10.7% | +9.1% |
| EPS Growth (YoY)Latest quarter vs prior year | +3.7% | -1.9% |
Valuation Metrics
At 21.9x trailing earnings, NNN trades at a 6% valuation discount to FCPT's 23.4x P/E. Adjusting for growth (PEG ratio), NNN offers better value at 1.96x vs FCPT's 117.82x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | FCPTFour Corners Prop… | NNNNNN REIT, Inc. |
|---|---|---|
| Market CapShares × price | $2.8B | $8.6B |
| Enterprise ValueMkt cap + debt − cash | $4.0B | $8.6B |
| Trailing P/EPrice ÷ TTM EPS | 23.41x | 21.89x |
| Forward P/EPrice ÷ next-FY EPS est. | 21.74x | 22.16x |
| PEG RatioP/E ÷ EPS growth rate | 117.82x | 1.96x |
| EV / EBITDAEnterprise value multiple | 17.62x | 10.03x |
| Price / SalesMarket cap ÷ Revenue | 9.39x | 9.29x |
| Price / BookPrice ÷ Book value/share | 1.61x | 1.93x |
| Price / FCFMarket cap ÷ FCF | 14.36x | 12.90x |
Profitability & Efficiency
NNN delivers a 8.8% return on equity — every $100 of shareholder capital generates $9 in annual profit, vs $7 for FCPT. On the Piotroski fundamental quality scale (0–9), FCPT scores 6/9 vs NNN's 4/9, reflecting solid financial health.
| Metric | FCPTFour Corners Prop… | NNNNNN REIT, Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +6.9% | +8.8% |
| ROA (TTM)Return on assets | +3.8% | +4.2% |
| ROICReturn on invested capital | +4.5% | +6.7% |
| ROCEReturn on capital employed | +5.9% | +6.5% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 4 |
| Debt / EquityFinancial leverage | 0.74x | — |
| Net DebtTotal debt minus cash | $1.2B | -$5M |
| Cash & Equiv.Liquid assets | $12M | $5M |
| Total DebtShort + long-term debt | $1.2B | $0 |
| Interest CoverageEBIT ÷ Interest expense | 3.16x | 2.89x |
Total Returns (with DRIP)
A $10,000 investment in NNN five years ago would be worth $12,983 today (with dividends reinvested), compared to $11,868 for FCPT. Over the past 12 months, NNN leads with a +12.4% total return vs FCPT's -6.3%. The 3-year compound annual growth rate (CAGR) favors NNN at 4.9% vs FCPT's 3.0% — a key indicator of consistent wealth creation.
| Metric | FCPTFour Corners Prop… | NNNNNN REIT, Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +9.8% | +16.2% |
| 1-Year ReturnPast 12 months | -6.3% | +12.4% |
| 3-Year ReturnCumulative with dividends | +9.4% | +15.3% |
| 5-Year ReturnCumulative with dividends | +18.7% | +29.8% |
| 10-Year ReturnCumulative with dividends | +130.4% | +50.8% |
| CAGR (3Y)Annualised 3-year return | +3.0% | +4.9% |
Risk & Volatility
FCPT is the less volatile stock with a 0.22 beta — it tends to amplify market swings less than NNN's 0.25 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. NNN currently trades 98.9% from its 52-week high vs FCPT's 85.6% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | FCPTFour Corners Prop… | NNNNNN REIT, Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.22x | 0.25x |
| 52-Week HighHighest price in past year | $29.81 | $45.83 |
| 52-Week LowLowest price in past year | $22.78 | $35.80 |
| % of 52W HighCurrent price vs 52-week peak | +85.6% | +98.9% |
| RSI (14)Momentum oscillator 0–100 | 64.8 | 69.0 |
| Avg Volume (50D)Average daily shares traded | 791K | 1.3M |
Analyst Outlook
Wall Street rates FCPT as "Hold" and NNN as "Hold". Consensus price targets imply 5.8% upside for FCPT (target: $27) vs -0.9% for NNN (target: $45).
| Metric | FCPTFour Corners Prop… | NNNNNN REIT, Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold |
| Price TargetConsensus 12-month target | $27.00 | $44.93 |
| # AnalystsCovering analysts | 14 | 29 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | 7 | 8 |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Four Corners Proper… (FCPT) | 100 | 82.97 | -17.0% |
| NNN REIT, Inc. (NNN) | 100 | 79.1 | -20.9% |
NNN REIT, Inc. (NNN) returned +30% over 5 years vs Four Corners Proper… (FCPT)'s +19%. A $10,000 investment in NNN 5 years ago would be worth $12,983 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Four Corners Proper… (FCPT) | $124M | $294M | +137.2% |
| NNN REIT, Inc. (NNN) | $534M | $926M | +73.6% |
Four Corners Property Trust, Inc.'s revenue grew from $124M (2016) to $294M (2025) — a 10.1% CAGR. NNN REIT, Inc.'s revenue grew from $534M (2016) to $926M (2025) — a 6.3% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Four Corners Proper… (FCPT) | 126.4% | 38.2% | -69.8% |
| NNN REIT, Inc. (NNN) | 44.9% | 42.1% | -6.2% |
Four Corners Property Trust, Inc.'s net margin went from 126% (2016) to 38% (2025). NNN REIT, Inc.'s net margin went from 45% (2016) to 42% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Four Corners Proper… (FCPT) | 21.8 | 21.2 | -2.8% |
| NNN REIT, Inc. (NNN) | 29.7 | 19.1 | -35.7% |
Four Corners Property Trust, Inc. has traded in a 21x–28x P/E range over 9 years; current trailing P/E is ~23x. NNN REIT, Inc. has traded in a 19x–34x P/E range over 9 years; current trailing P/E is ~22x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Four Corners Proper… (FCPT) | 2.63 | 1.09 | -58.6% |
| NNN REIT, Inc. (NNN) | 1.38 | 2.07 | +50.0% |
Four Corners Property Trust, Inc.'s EPS grew from $2.63 (2016) to $1.09 (2025) — a -9% CAGR. NNN REIT, Inc.'s EPS grew from $1.38 (2016) to $2.07 (2025) — a 5% CAGR.
Chart 6Free Cash Flow — 5 Years
Four Corners Property Trust, Inc. generated $192M FCF in 2025 (+57% vs 2021). NNN REIT, Inc. generated $667M FCF in 2025 (+17% vs 2021).
FCPT vs NNN: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is FCPT or NNN a better buy right now?
NNN REIT, Inc. (NNN) offers the better valuation at 21.9x trailing P/E (22.2x forward), making it the more compelling value choice. Analysts rate Four Corners Property Trust, Inc. (FCPT) a "Hold" — based on 14 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.
02Which has the better valuation — FCPT or NNN?
On trailing P/E, NNN REIT, Inc. (NNN) is the cheapest at 21.9x versus Four Corners Property Trust, Inc. at 23.4x. On forward P/E, Four Corners Property Trust, Inc. is actually cheaper at 21.7x — notably different from the trailing picture, reflecting expected earnings growth. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: NNN REIT, Inc. wins at 1.99x versus Four Corners Property Trust, Inc.'s 117.82x — a reasonable growth-adjusted valuation.
03Which is the better long-term investment — FCPT or NNN?
Over the past 5 years, NNN REIT, Inc. (NNN) delivered a total return of +29.8%, compared to +18.7% for Four Corners Property Trust, Inc. (FCPT). A $10,000 investment in NNN five years ago would be worth approximately $13K today (assuming dividends reinvested). Over 10 years, the gap is even starker: FCPT returned +130.4% versus NNN's +50.8%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — FCPT or NNN?
By beta (market sensitivity over 5 years), Four Corners Property Trust, Inc. (FCPT) is the lower-risk stock at 0.22β versus NNN REIT, Inc.'s 0.25β — meaning NNN is approximately 16% more volatile than FCPT relative to the S&P 500.
05Which has better profit margins — FCPT or NNN?
NNN REIT, Inc. (NNN) is the more profitable company, earning 42.1% net margin versus 38.2% for Four Corners Property Trust, Inc. — meaning it keeps 42.1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: NNN leads at 63.6% versus 55.7% for FCPT. At the gross margin level — before operating expenses — NNN leads at 96.0%, 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.
06Is FCPT or NNN more undervalued right now?
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, NNN REIT, Inc. (NNN) is the more undervalued stock at a PEG of 1.99x versus Four Corners Property Trust, Inc.'s 117.82x. Both stocks trade at elevated growth-adjusted valuations, so expected growth needs to materialise. On forward earnings alone, Four Corners Property Trust, Inc. (FCPT) trades at 21.7x forward P/E versus 22.2x for NNN REIT, Inc. — 0.4x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for FCPT: 5.8% to $27.00.
07Which pays a better dividend — FCPT or NNN?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
08Is FCPT or NNN better for a retirement portfolio?
For long-horizon retirement investors, Four Corners Property Trust, Inc. (FCPT) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.22), +130.4% 10Y return). Both have compounded well over 10 years (FCPT: +130.4%, NNN: +50.8%), 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.
09What are the main differences between FCPT and NNN?
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. 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.
Find Stocks Like These
Explore pre-built screens for each stock's profile, or build a custom screen to find stocks that beat both.