Broadstone Net Lease, Inc. (BNL) Revenue History
Annual and quarterly revenue from 2015 to 2025
Compound Annual Growth Rate (CAGR)
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BNL Revenue Growth
Revenue Breakdown (FY 2018)
BNL's revenue distribution by segment and geography for fiscal year 2018
By Product/Segment
BNL Revenue Analysis (2015–2025)
As of May 8, 2026, Broadstone Net Lease, Inc. (BNL) generated trailing twelve-month (TTM) revenue of $468.8 million, reflecting solid growth of +8.6% year-over-year. The most recent quarter (Q1 2026) recorded $121.4 million in revenue, up 1.7% sequentially.
Looking at the longer-term picture, BNL's 5-year compound annual growth rate (CAGR) stands at +7.2%, indicating steady revenue expansion. The company achieved its highest annual revenue of $459.1 million in 2025, representing a new all-time high.
Revenue diversification analysis shows BNL's business is primarily driven by Tenant Reimbursements (99%), and Real Estate Other (1%). With over half of revenue concentrated in Tenant Reimbursements, the company maintains significant focus in this area while developing other growth vectors.
When compared to Real Estate sector peers including ADC (+17.8% YoY), NNN (+5.8% YoY), and EPRT (+24.7% YoY), BNL has underperformed the peer group in terms of revenue growth. Compare BNL vs ADC →
BNL Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| BNLCurrent | $469M | +8.6% | +7.2% | 49.7% | |
 ADC | $718M | +17.8% | +23.6% | 47.4% | |
 NNN | $926M | +5.8% | +7.0% | 61.5% | |
 EPRT | $562M | +24.7% | +27.9% | 64.5% | |
 O | $5.7B | +9.8% | +28.4% | 28.3% | |
 WPC | $1.7B | +24.5% | +8.0% | 44.4% |
BNL Historical Revenue Data (2015–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $459.1M | +4.6% | $108.0M | 23.5% | $228.2M | 49.7% |
| 2024 | $438.8M | -2.1% | $101.7M | 23.2% | $212.9M | 48.5% |
| 2023 | $448.1M | +9.6% | $108.3M | 24.2% | $222.3M | 49.6% |
| 2022 | $408.9M | +6.7% | $77.6M | 19.0% | $193.6M | 47.3% |
| 2021 | $383.2M | +18.4% | $100.6M | 26.2% | $196.0M | 51.1% |
| 2020 | $323.7M | +8.3% | $39.6M | 12.2% | $139.8M | 43.2% |
| 2019 | $298.8M | +25.8% | $56.9M | 19.1% | $138.4M | 46.3% |
| 2018 | $237.5M | +30.8% | $51.8M | 21.8% | $110.6M | 46.6% |
| 2017 | $181.6M | +27.1% | $45.5M | 25.1% | $87.5M | 48.2% |
| 2016 | $142.9M | +45.7% | $42.4M | 29.7% | $63.6M | 44.5% |
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Start ComparisonBNL — Frequently Asked Questions
Quick answers to the most common questions about buying BNL stock.
Is BNL's revenue growth accelerating or slowing?
BNL maintains +8.6% revenue growth, in line with its 5-year CAGR of +7.2%. TTM revenue stands at $469M. Growth rate remains consistent with historical average.
What is BNL's long-term revenue growth rate?
Broadstone Net Lease, Inc.'s 5-year revenue CAGR of +7.2% reflects the sustained expansion pattern. Current YoY growth of +8.6% is near this long-term average.
How is BNL's revenue distributed by segment?
BNL reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2015-2025 are available for download. Segment mix reveals concentration and diversification trends.