Net Lease Office Properties (NLOP) Revenue History
Annual and quarterly revenue from 2020 to present
NLOP Revenue Over Time (2020–2025)
NLOP Revenue Growth History
3 of 5 years with positive growth- FY2020 revenue growth
- N/A
- FY2021 revenue growth
- +2.2%
- FY2022 revenue growth
- +5.6%
- FY2023 revenue growth
- +12.0%
- FY2024 revenue growth
- -18.7%
- FY2025 revenue growth
- -16.4%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $9.4M | -68.0% |
| Q4 2025 | $31.8M | +14.8% |
| Q3 2025 | $29.8M | -5.4% |
| Q2 2025 | $29.2M | -25.3% |
| Q1 2025 | $29.2M | -33.6% |
| Q4 2024 | $27.7M | -40.2% |
| Q3 2024 | $31.5M | -27.0% |
| Q2 2024 | $39.0M | -8.8% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown
NLOP's revenue distribution by segment and geography
By Geography
NLOP Revenue Analysis (2020–2025)
Current Revenue & Growth
As of June 29, 2026, Net Lease Office Properties (NLOP) generated trailing twelve-month (TTM) revenue of $100.1 million, reflecting significant decline in growth of -68.0% year-over-year. The most recent quarter (Q1 2026) recorded $9.4 million in revenue, down 70.6% sequentially.
Historical Growth Trajectory
NLOP's 5-year compound annual growth rate (CAGR) stands at -3.9%, indicating revenue contraction over this period. The 3-year CAGR of -8.7% is below the 5-year average, signalling a growth deceleration in recent years. Net Lease Office Properties's highest annual revenue of $175.0 million was recorded in 2023.
Peer Comparison
Compared to Real Estate sector peers — including WPC (+24.5% YoY), NNN (+5.8% YoY), and EPRT (+24.7% YoY) — NLOP has underperformed the peer group in revenue growth. Compare NLOP vs WPC →
NLOP Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| NLOPCurrent | $100M | -68.0% | -3.9% | 29.7% | |
 WPC | $1.7B | +24.5% | +8.0% | 44.4% | |
 NNN | $926M | +5.8% | +7.0% | 61.5% | |
 EPRT | $562M | +24.7% | +27.9% | 64.5% | |
 ADC | $718M | +17.8% | +23.6% | 47.4% | |
 NTST | $181M | +22.2% | +40.4% | 30.4% |
NLOP Historical Revenue Data (2020–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $118.9M | -16.4% | $83.3M | 70.0% | $35.3M | 29.7% |
| 2024 | $142.2M | -18.7% | $98.6M | 69.3% | $34.4M | 24.2% |
| 2023 | $175.0M | +12.0% | $137.1M | 78.4% | $40.1M | 22.9% |
| 2022 | $156.2M | +5.6% | $124.2M | 79.5% | $43.1M | 27.6% |
| 2021 | $147.9M | +2.2% | $117.8M | 79.7% | $48.9M | 33.1% |
| 2020 | $144.8M | - | $116.3M | 80.4% | $0 | - |
Intrinsic Valuation
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Historical Returns
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Peer Comparison
Compare growth, multiples, and margins vs sector.
NLOP — Frequently Asked Questions
Quick answers to the most common questions about buying NLOP stock.
Is NLOP's revenue growth accelerating or slowing?
NLOP revenue is declining -68.0% year-over-year. TTM revenue fell to $100M, contrasting with the 5-year CAGR of -3.9%. The reversal reflects either macro headwinds or company-specific challenges.
What is NLOP's revenue history from 2020 to 2026?
Net Lease Office Properties (NLOP) revenue history spans 2020 to 2026. TTM revenue as of 2026 is $100M, growing at -68.0% YoY. The 5-year CAGR is -3.9%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is NLOP's long-term revenue growth rate (CAGR)?
Net Lease Office Properties's 5-year revenue CAGR of -3.9% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -68.0% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for NLOP.
Why does NLOP's quarterly revenue fluctuate?
NLOP quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Net Lease Office Properties's revenue data from 2020 to 2026 shows full historical quarterly detail on this page.
How is NLOP's revenue distributed by segment?
NLOP reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does NLOP's revenue compare to industry peers?
Net Lease Office Properties (NLOP) with TTM revenue of $100M and -68.0% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.