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Stock Comparison

WPC vs NNN

Revenue, margins, valuation, and 5-year total return — side by side.

Live fundamentals10-year financials5-year price chart
WPC
W. P. Carey Inc.

REIT - Diversified

Real EstateNYSE • US
Market Cap$16.19B
5Y Perf.+26.0%
NNN
NNN REIT, Inc.

REIT - Retail

Real EstateNYSE • US
Market Cap$8.51B
5Y Perf.+41.8%

WPC vs NNN — Key Financials

Market cap, revenue, margins, and valuation side-by-side.

Company Snapshot
WPC logoWPC
NNN logoNNN
IndustryREIT - DiversifiedREIT - Retail
Market Cap$16.19B$8.51B
Revenue (TTM)$1.99B$936M
Net Income (TTM)$517M$387M
Gross Margin68.2%81.4%
Operating Margin43.3%63.3%
Forward P/E29.3x21.7x
Total Debt$8.72B$4.82B
Cash & Equiv.$155M$5M

WPC vs NNNLong-Term Stock Performance

Price return indexed to 100 at period start. Dividends excluded.

WPC
NNN
StockMay 20May 26Return
W. P. Carey Inc. (WPC)100126.0+26.0%
NNN REIT, Inc. (NNN)100141.8+41.8%

Price return only. Dividends and distributions are not included.

Quick Verdict: WPC vs NNN

Each card shows where this stock fits in a portfolio — not just who wins on paper.

Bottom line: NNN leads in 4 of 7 categories, making it the strongest pick for valuation and capital efficiency and profitability and margin quality. W. P. Carey Inc. is the stronger pick specifically for growth and revenue expansion and capital preservation and lower volatility. As sector peers, any of these can serve as alternatives in the same allocation.
WPC
W. P. Carey Inc.
The Real Estate Income Play

WPC is the clearest fit if your priority is growth exposure and long-term compounding.

  • Rev growth 8.9%, EPS growth 1.0%, 3Y rev CAGR 5.2%
  • 83.4% 10Y total return vs NNN's 39.7%
  • Lower volatility, beta 0.02, current ratio 0.18x
Best for: growth exposure and long-term compounding
NNN
NNN REIT, Inc.
The Real Estate Income Play

NNN carries the broadest edge in this set and is the clearest fit for income & stability and defensive.

  • Dividend streak 9 yrs, beta 0.15, yield 5.3%
  • Beta 0.15, yield 5.3%, current ratio 0.19x
  • Lower P/E (21.7x vs 29.3x)
Best for: income & stability and defensive
See the full category breakdown
CategoryWinnerWhy
GrowthWPC logoWPC8.9% FFO/revenue growth vs NNN's 6.6%
ValueNNN logoNNNLower P/E (21.7x vs 29.3x)
Quality / MarginsNNN logoNNN41.4% margin vs WPC's 26.0%
Stability / SafetyWPC logoWPCBeta 0.02 vs NNN's 0.15, lower leverage
DividendsNNN logoNNN5.3% yield, 9-year raise streak, vs WPC's 4.8%
Momentum (1Y)WPC logoWPC+26.4% vs NNN's +12.1%
Efficiency (ROA)NNN logoNNN4.1% ROA vs WPC's 2.9%, ROIC 4.8% vs 3.5%

WPC vs NNN — Revenue Breakdown by Segment

How each company's revenue is distributed across its business units

WPCW. P. Carey Inc.
FY 2025
Owned Real Estate
99.2%$1.7B
Investment Management
0.5%$9M
Management Service
0.3%$5M
NNNNNN REIT, Inc.

Segment breakdown not available.

WPC vs NNN — Financial Metrics

Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.

BEST OVERALLNNNLAGGINGWPC

Income & Cash Flow (Last 12 Months)

Evenly matched — WPC and NNN each lead in 3 of 6 comparable metrics.

WPC is the larger business by revenue, generating $2.0B annually — 2.1x NNN's $936M. NNN is the more profitable business, keeping 41.4% of every revenue dollar as net income compared to WPC's 26.0%. On growth, WPC holds the edge at +10.6% YoY revenue growth, suggesting stronger near-term business momentum.

MetricWPC logoWPCW. P. Carey Inc.NNN logoNNNNNN REIT, Inc.
RevenueTrailing 12 months$2.0B$936M
EBITDAEarnings before interest/tax$1.4B$867M
Net IncomeAfter-tax profit$517M$387M
Free Cash FlowCash after capex$1.1B$464M
Gross MarginGross profit ÷ Revenue+68.2%+81.4%
Operating MarginEBIT ÷ Revenue+43.3%+63.3%
Net MarginNet income ÷ Revenue+26.0%+41.4%
FCF MarginFCF ÷ Revenue+56.8%+49.6%
Rev. Growth (YoY)Latest quarter vs prior year+10.6%+4.1%
EPS Growth (YoY)Latest quarter vs prior year+40.4%-2.0%
Evenly matched — WPC and NNN each lead in 3 of 6 comparable metrics.

Valuation Metrics

NNN leads this category, winning 6 of 6 comparable metrics.

At 21.6x trailing earnings, NNN trades at a 38% valuation discount to WPC's 35.0x P/E. On an enterprise value basis, NNN's 15.9x EV/EBITDA is more attractive than WPC's 19.3x.

MetricWPC logoWPCW. P. Carey Inc.NNN logoNNNNNN REIT, Inc.
Market CapShares × price$16.2B$8.5B
Enterprise ValueMkt cap + debt − cash$24.8B$13.3B
Trailing P/EPrice ÷ TTM EPS35.00x21.60x
Forward P/EPrice ÷ next-FY EPS est.29.28x21.69x
PEG RatioP/E ÷ EPS growth rate1.94x
EV / EBITDAEnterprise value multiple19.28x15.89x
Price / SalesMarket cap ÷ Revenue9.43x9.18x
Price / BookPrice ÷ Book value/share2.01x1.91x
Price / FCFMarket cap ÷ FCF14.84x12.75x
NNN leads this category, winning 6 of 6 comparable metrics.

Profitability & Efficiency

NNN leads this category, winning 7 of 9 comparable metrics.

NNN delivers a 8.8% return on equity — every $100 of shareholder capital generates $9 in annual profit, vs $6 for WPC. WPC carries lower financial leverage with a 1.07x debt-to-equity ratio, signaling a more conservative balance sheet compared to NNN's 1.09x. On the Piotroski fundamental quality scale (0–9), WPC scores 5/9 vs NNN's 4/9, reflecting solid financial health.

MetricWPC logoWPCW. P. Carey Inc.NNN logoNNNNNN REIT, Inc.
ROE (TTM)Return on equity+6.3%+8.8%
ROA (TTM)Return on assets+2.9%+4.1%
ROICReturn on invested capital+3.5%+4.8%
ROCEReturn on capital employed+4.6%+6.4%
Piotroski ScoreFundamental quality 0–954
Debt / EquityFinancial leverage1.07x1.09x
Net DebtTotal debt minus cash$8.6B$4.8B
Cash & Equiv.Liquid assets$155M$5M
Total DebtShort + long-term debt$8.7B$4.8B
Interest CoverageEBIT ÷ Interest expense2.73x2.93x
NNN leads this category, winning 7 of 9 comparable metrics.

Total Returns (Dividends Reinvested)

WPC leads this category, winning 5 of 6 comparable metrics.

A $10,000 investment in WPC five years ago would be worth $12,857 today (with dividends reinvested), compared to $11,767 for NNN. Over the past 12 months, WPC leads with a +26.4% total return vs NNN's +12.1%. The 3-year compound annual growth rate (CAGR) favors WPC at 5.8% vs NNN's 4.9% — a key indicator of consistent wealth creation.

MetricWPC logoWPCW. P. Carey Inc.NNN logoNNNNNN REIT, Inc.
YTD ReturnYear-to-date+15.3%+16.1%
1-Year ReturnPast 12 months+26.4%+12.1%
3-Year ReturnCumulative with dividends+18.4%+15.6%
5-Year ReturnCumulative with dividends+28.6%+17.7%
10-Year ReturnCumulative with dividends+83.4%+39.7%
CAGR (3Y)Annualised 3-year return+5.8%+4.9%
WPC leads this category, winning 5 of 6 comparable metrics.

Risk & Volatility

WPC leads this category, winning 2 of 2 comparable metrics.

WPC is the less volatile stock with a 0.02 beta — it tends to amplify market swings less than NNN's 0.15 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.

MetricWPC logoWPCW. P. Carey Inc.NNN logoNNNNNN REIT, Inc.
Beta (5Y)Sensitivity to S&P 5000.02x0.15x
52-Week HighHighest price in past year$75.69$46.03
52-Week LowLowest price in past year$59.34$38.90
% of 52W HighCurrent price vs 52-week peak+97.6%+97.1%
RSI (14)Momentum oscillator 0–10057.955.7
Avg Volume (50D)Average daily shares traded1.1M1.4M
WPC leads this category, winning 2 of 2 comparable metrics.

Analyst Outlook

NNN leads this category, winning 2 of 2 comparable metrics.

Wall Street rates WPC as "Hold" and NNN as "Hold". Consensus price targets imply 3.0% upside for NNN (target: $46) vs -0.9% for WPC (target: $73). For income investors, NNN offers the higher dividend yield at 5.27% vs WPC's 4.84%.

MetricWPC logoWPCW. P. Carey Inc.NNN logoNNNNNN REIT, Inc.
Analyst RatingConsensus buy/hold/sellHoldHold
Price TargetConsensus 12-month target$73.20$46.06
# AnalystsCovering analysts2029
Dividend YieldAnnual dividend ÷ price+4.8%+5.3%
Dividend StreakConsecutive years of raises19
Dividend / ShareAnnual DPS$3.57$2.36
Buyback YieldShare repurchases ÷ mkt cap0.0%0.0%
NNN leads this category, winning 2 of 2 comparable metrics.
Key Takeaway

NNN leads in 3 of 6 categories (Valuation Metrics, Profitability & Efficiency). WPC leads in 2 (Total Returns, Risk & Volatility). 1 tied.

Best OverallNNN REIT, Inc. (NNN)Leads 3 of 6 categories
Loading custom metrics...

WPC vs NNN: Frequently Asked Questions

10 questions · data-driven answers · updated daily

01

Is WPC or NNN a better buy right now?

For growth investors, W.

P. Carey Inc. (WPC) is the stronger pick with 8. 9% revenue growth year-over-year, versus 6. 6% for NNN REIT, Inc. (NNN). NNN REIT, Inc. (NNN) offers the better valuation at 21. 6x trailing P/E (21. 7x forward), making it the more compelling value choice. Analysts rate W. P. Carey Inc. (WPC) a "Hold" — based on 20 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.

02

Which has the better valuation — WPC or NNN?

On trailing P/E, NNN REIT, Inc.

(NNN) is the cheapest at 21. 6x versus W. P. Carey Inc. at 35. 0x. On forward P/E, NNN REIT, Inc. is actually cheaper at 21. 7x.

03

Which is the better long-term investment — WPC or NNN?

Over the past 5 years, W.

P. Carey Inc. (WPC) delivered a total return of +28. 6%, compared to +17. 7% for NNN REIT, Inc. (NNN). Over 10 years, the gap is even starker: WPC returned +80. 9% versus NNN's +37. 8%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

04

Which is safer — WPC or NNN?

By beta (market sensitivity over 5 years), W.

P. Carey Inc. (WPC) is the lower-risk stock at 0. 02β versus NNN REIT, Inc. 's 0. 15β — meaning NNN is approximately 560% more volatile than WPC relative to the S&P 500. On balance sheet safety, W. P. Carey Inc. (WPC) carries a lower debt/equity ratio of 107% versus 109% for NNN REIT, Inc. — giving it more financial flexibility in a downturn.

05

Which is growing faster — WPC or NNN?

By revenue growth (latest reported year), W.

P. Carey Inc. (WPC) is pulling ahead at 8. 9% versus 6. 6% for NNN REIT, Inc. (NNN). On earnings-per-share growth, the picture is similar: W. P. Carey Inc. grew EPS 1. 0% year-over-year, compared to -3. 7% for NNN REIT, Inc.. Over a 3-year CAGR, NNN leads at 6. 2% 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.

06

Which has better profit margins — WPC or NNN?

NNN REIT, Inc.

(NNN) is the more profitable company, earning 42. 1% net margin versus 27. 2% for W. P. Carey Inc. — meaning it keeps 42. 1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: NNN leads at 61. 5% versus 44. 4% for WPC. At the gross margin level — before operating expenses — NNN leads at 38. 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.

07

Is WPC or NNN more undervalued right now?

On forward earnings alone, NNN REIT, Inc.

(NNN) trades at 21. 7x forward P/E versus 29. 3x for W. P. Carey Inc. — 7. 6x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for NNN: 3. 0% to $46. 06.

08

Which pays a better dividend — WPC or NNN?

All stocks in this comparison pay dividends.

NNN REIT, Inc. (NNN) offers the highest yield at 5. 3%, versus 4. 8% for W. P. Carey Inc. (WPC).

09

Is WPC or NNN better for a retirement portfolio?

For long-horizon retirement investors, W.

P. Carey Inc. (WPC) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 02), 4. 8% yield). Both have compounded well over 10 years (WPC: +80. 9%, NNN: +37. 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.

10

What are the main differences between WPC 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 outperform both.

Stocks Like

WPC

Dividend Mega-Cap Quality

  • Sector: Real Estate
  • Market Cap > $100B
  • Revenue Growth > 5%
  • Net Margin > 15%
Run This Screen
Stocks Like

NNN

Dividend Mega-Cap Quality

  • Sector: Real Estate
  • Market Cap > $100B
  • Net Margin > 24%
  • Dividend Yield > 2.1%
Run This Screen
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Beat Both

Find stocks that outperform WPC and NNN on the metrics below

Revenue Growth>
%
(WPC: 10.6% · NNN: 4.1%)
Net Margin>
%
(WPC: 26.0% · NNN: 41.4%)
P/E Ratio<
x
(WPC: 35.0x · NNN: 21.6x)

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