NNN REIT, Inc. (NNN) Earnings History
Annual and quarterly earnings data from 1990 to 2025
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NNN EPS Growth (CAGR)
Compound annual growth rate of diluted earnings per share
CAGR (Compound Annual Growth Rate) shows the annualized growth rate of EPS over the specified period. A higher CAGR indicates stronger earnings momentum.
NNN Profitability Analysis
Margin trends over time
| Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| 2025 | 38.0% | 61.5% | 42.1% |
| 2024 | 96.3% | 66.5% | 45.7% |
| 2023 | 96.6% | 67.0% | 47.4% |
| 2022 | 96.6% | 62.4% | 43.3% |
| 2021 | 96.1% | 61.8% | 39.9% |
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NNN REIT, Inc. (NNN) Earnings Overview
As of May 7, 2026, NNN REIT, Inc. (NNN) reported trailing twelve-month net income of $387M, reflecting -3.7% year-over-year growth. The company earned $2.04 per diluted share over the past four quarters, with a net profit margin of 42.1%.
Looking at the long-term picture, NNN's 5-year EPS compound annual growth rate (CAGR) stands at +11.2%, showing solid earnings momentum. The company achieved its highest annual net income of $397M in fiscal 2024.
NNN REIT, Inc. maintains industry-leading profitability with a gross margin of 38.0%, operating margin of 61.5%, and net margin of 42.1%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including O ($800M net income, 18.4% margin), ADC ($220M net income, 28.4% margin), EPRT ($257M net income, 45.0% margin), NNN has outperformed on profitability metrics. Compare NNN vs O →
NNN Earnings vs Peers
Earnings metrics vs comparable public companies
NNN Historical Earnings Data (1990–2025)
36 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $390M | -1.8% | $570M | $2.07 | 42.1% | 61.5% |
| 2024 | $397M | +1.1% | $578M | $2.15 | 45.7% | 66.5% |
| 2023 | $392M | +17.2% | $555M | $2.16 | 47.4% | 67.0% |
| 2022 | $335M | +15.3% | $483M | $1.89 | 43.3% | 62.4% |
| 2021 | $290M | +26.8% | $449M | $1.51 | 39.9% | 61.8% |
| 2020 | $229M | -23.5% | $374M | $1.22 | 34.6% | 56.7% |
| 2019 | $299M | +2.3% | $417M | $1.56 | 44.6% | 62.2% |
| 2018 | $292M | +10.4% | $425M | $1.65 | 47.0% | 68.2% |
| 2017 | $265M | +10.6% | $338M | $1.45 | 45.3% | 57.7% |
| 2016 | $240M | +21.1% | $309M | $1.38 | 44.9% | 57.9% |
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Start ComparisonNNN — Frequently Asked Questions
Quick answers to the most common questions about buying NNN stock.
Is NNN growing earnings?
NNN EPS of $2.04 reflects slowing growth at -3.7%, below the 5-year CAGR of +11.2%. TTM net income is $387M. Expansion rate has moderated.
What are NNN's profit margins?
NNN REIT, Inc. net margin is +42.1%, with operating margin at +61.5%. Above-average margins indicate pricing power.
How consistent are NNN's earnings?
NNN earnings data spans 1990-2025. The current earnings trend is -3.7% YoY. Historical data enables comparison across business cycles.