NNN REIT, Inc. (NNN) Earnings History
Growth Compounder36 years of earnings data (1990–2025) · Consistent double-digit EPS growth over 5 years
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NNN REIT, Inc. (NNN) Earnings Overview
As of June 21, 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 ($1.12B 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% |
| 2015 | $198M | +3.8% | $289M | $1.20 | 41.0% | 59.8% |
| 2014 | $191M | +19.0% | $266M | $1.24 | 43.8% | 61.2% |
| 2013 | $160M | +12.8% | $239M | $1.10 | 40.8% | 61.0% |
| 2012 | $142M | +53.8% | $198M | $1.11 | 40.5% | 56.3% |
| 2011 | $92M | +26.5% | $164M | $0.96 | 29.7% | 52.9% |
| 2010 | $73M | +33.2% | $135M | $0.80 | 27.3% | 50.4% |
| 2009 | $55M | -55.5% | $121M | $0.60 | 22.1% | 48.6% |
| 2008 | $123M | -21.7% | $146M | $1.56 | 53.2% | 62.9% |
| 2007 | $157M | -13.9% | $121M | $2.26 | 84.1% | 64.7% |
| 2006 | $183M | +104.1% | $94M | $3.05 | 114.9% | 59.4% |
| 2005 | $89M | +37.7% | $84M | $1.56 | 61.6% | 57.8% |
| 2004 | $65M | +21.4% | $73M | $1.15 | 50.2% | 56.7% |
| 2003 | $53M | +5.3% | $73M | $1.13 | 52.1% | 71.0% |
| 2002 | $51M | +75.3% | $70M | $1.09 | 54.1% | 74.1% |
| 2001 | $29M | -24.3% | $51M | $0.91 | 36.0% | 63.0% |
| 2000 | $38M | +8.3% | $65M | $1.26 | 47.3% | 80.4% |
| 1999 | $35M | +8.8% | $51M | $1.16 | 46.1% | 67.2% |
| 1998 | $32M | +6.8% | $44M | $1.10 | 50.6% | 67.9% |
| 1997 | $30M | +53.5% | $41M | $1.25 | 60.6% | 82.0% |
| 1996 | $20M | +55.8% | $27M | $1.18 | 59.3% | 80.8% |
| 1995 | $13M | +42.8% | $17M | $1.09 | 61.7% | 80.4% |
| 1994 | $9M | +154.3% | $15M | $1.04 | 72.4% | 118.7% |
| 1993 | $4M | +118.8% | $7M | $0.95 | 63.6% | 120.0% |
| 1992 | $2M | +23.1% | $3M | $0.95 | 61.5% | 130.8% |
| 1991 | $1M | -7.1% | $3M | $0.85 | 68.4% | 131.6% |
| 1990 | $1M | - | $2M | $0.94 | 73.7% | 126.3% |
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NNN — Frequently Asked Questions
Quick answers to the most common questions about buying NNN stock.
What is NNN earnings per share (EPS)?
NNN trailing twelve-month (TTM) diluted EPS is $2.04, reflecting -3.7% year-over-year growth. The 5-year EPS CAGR is +11.2%. Complete EPS history from 1990 to 2025 is available in the table on this page.
What is NNN REIT, Inc.'s net income?
NNN REIT, Inc. (NNN) trailing twelve-month net income is $387M as of 2025. Earnings declined -3.7% year-over-year. NNN REIT, Inc. has been profitable for 36 consecutive years.
Is NNN profitable?
Yes, NNN is profitable with a TTM net income of $387M and a net profit margin of +42.1%. NNN REIT, Inc. has generated profits for 36 consecutive years.
What is NNN's earnings growth rate?
NNN compound annual EPS growth rates (CAGR): 1-Year: -3.7%, 3-Year: +3.1%, 5-Year: +11.2%, 10-Year: +5.6%. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 1990 to 2025.
What are NNN's profit margins?
NNN REIT, Inc. net profit margin is +42.1%, operating margin is +61.5%, and gross margin is +38.0%. Above-average net margins reflect strong pricing power and competitive moat. Return on Equity is +8.9%.
Is NNN growing earnings?
NNN earnings growth is slowing. Current YoY EPS growth of -3.7% trails the 5-year CAGR of +11.2%. TTM net income is $387M.
What was NNN's best earnings year?
NNN REIT, Inc.'s highest annual net income on record is $397M, achieved in fiscal year 2024. Earnings history on this page spans 1990 to 2025 and includes all annual and quarterly figures.
What were NNN's earnings last quarter?
NNN's most recent reported quarter was Q1 2026. Net income was $94M with diluted EPS of $0.50. For a full breakdown of all quarters, see the quarterly earnings table on this page.