Last 48 quarters of trend data · Real Estate · REIT - Retail
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
NNN REIT, Inc.'s quarterly P/E stands at 19.4x, down 1.1% year-over-year. EV/EBITDA has compressed 40.4% YoY to 8.6x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 21.89 | 19.43 | 20.87 | 19.99 | 20.91 | 19.64 | 22.87 | 18.36 | 20.55 | 20.31 | 14.97 | 19.81 | 22.07 |
| — | -1.1% | -8.8% | +8.9% | +1.7% | -3.3% | +52.7% | -7.3% | -6.9% | -11.2% | -24.9% | -22.6% | -9.6% | |
| P/S Ratio | 9.29 | 7.86 | 8.71 | 8.90 | 8.64 | 8.73 | 10.24 | 8.98 | 9.04 | 9.07 | 7.83 | 9.59 | 9.81 |
| — | -9.9% | -14.9% | -0.8% | -4.4% | -3.7% | +30.8% | -6.3% | -7.9% | -12.3% | -14.3% | -2.8% | -5.0% | |
| P/B Ratio | 1.93 | 1.70 | 1.81 | 1.85 | 1.83 | 1.75 | 2.05 | 1.86 | 1.87 | 1.89 | 1.54 | 1.87 | 1.94 |
| — | -2.8% | -11.5% | -0.3% | -1.8% | -7.2% | +32.6% | -0.9% | -3.7% | -5.3% | -12.5% | -2.6% | -3.9% | |
| P/FCF | 12.90 | — | 9.18 | 16.91 | 9.81 | 16.21 | 10.83 | 16.16 | 10.21 | 16.12 | 8.38 | 16.40 | 11.07 |
| — | — | -15.2% | +4.6% | -3.9% | +0.6% | +29.2% | -1.5% | -7.8% | -11.2% | -9.9% | -3.3% | -7.4% | |
| EV / EBITDA | 10.03 | 8.64 | 14.96 | 14.57 | 14.95 | 14.49 | 15.89 | 14.16 | 15.25 | 15.27 | 12.76 | 14.91 | 15.90 |
| — | -40.4% | -5.8% | +2.9% | -2.0% | -5.1% | +24.5% | -5.0% | -4.1% | -6.5% | -14.6% | -11.3% | -6.0% | |
| EV / EBIT | 14.59 | — | 21.61 | 21.22 | 21.61 | 20.72 | 22.76 | 19.85 | 21.91 | 21.78 | 17.82 | 21.33 | 23.18 |
| — | — | -5.1% | +6.9% | -1.3% | -4.9% | +27.7% | -6.9% | -5.5% | -7.8% | -17.7% | -16.4% | -5.2% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
NNN REIT, Inc.'s operating margin was 62.3% in Q4 2025, down 1.7 pp QoQ and down 3.5 pp YoY. This marks the 3rd consecutive quarter of margin compression, signaling a persistent pressure on profitability that investors should monitor. The trailing four-quarter average of 63.7% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 96.0% | 95.8% | 96.0% | 96.1% | 95.9% | 94.9% | 96.7% | 96.9% | 96.7% | 96.2% | 96.9% | 96.6% | 96.6% |
| — | +0.9% | -0.7% | -0.8% | -0.8% | -1.3% | -0.2% | +0.3% | +0.0% | -0.3% | -0.1% | -0.1% | +0.4% | |
| Operating Margin | 63.6% | 62.3% | 64.0% | 66.0% | 62.3% | 65.8% | 65.7% | 70.2% | 64.2% | 64.6% | 72.0% | 68.5% | 63.2% |
| — | -5.3% | -2.6% | -6.0% | -3.0% | +1.8% | -8.8% | +2.6% | +1.6% | -0.0% | +11.1% | +17.8% | +1.9% | |
| Net Margin | 42.1% | 40.2% | 42.1% | 44.3% | 41.8% | 44.8% | 44.8% | 49.2% | 43.8% | 44.7% | 52.1% | 48.7% | 44.2% |
| — | -10.2% | -6.1% | -9.9% | -4.6% | +0.2% | -14.0% | +1.0% | -0.8% | -2.1% | +13.9% | +25.3% | +3.3% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.9% | 2.2% | 2.2% | 2.3% | 2.2% | 2.2% | 2.3% | 2.5% | 2.3% | 2.3% | 2.6% | 2.4% | 2.2% |
| — | -3.1% | -3.6% | -9.5% | -2.3% | -3.6% | -11.1% | +7.0% | +3.7% | +4.3% | +15.2% | +25.5% | +4.7% | |
| ROA | 4.3% | 1.0% | 1.0% | 1.1% | 1.1% | 1.1% | 1.1% | 1.2% | 1.1% | 1.1% | 1.3% | 1.2% | 1.1% |
| — | -7.5% | -6.3% | -9.6% | -0.8% | -2.0% | -12.2% | +2.8% | -1.3% | -0.3% | +12.5% | +25.0% | +5.0% | |
| ROIC | 6.7% | 1.6% | 1.2% | 1.3% | 1.2% | 1.2% | 1.3% | 1.3% | 1.2% | 1.2% | 1.3% | 1.3% | 1.2% |
| — | +32.1% | -3.0% | -5.7% | +0.8% | +0.1% | -6.3% | +4.7% | +1.5% | +2.5% | +10.5% | +17.3% | +2.1% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | 1.10 | 1.06 | 1.03 | 1.00 | 1.00 | 1.04 | 1.04 | 1.05 | 1.02 | 0.98 | 0.96 |
| — | — | +10.1% | +1.9% | -1.0% | -4.4% | -1.6% | +6.4% | +8.7% | +10.4% | +7.3% | +1.5% | -0.4% | |
| Debt / EBITDA | — | — | 22.89 | 21.29 | 21.55 | 21.14 | 21.13 | 20.41 | 21.85 | 21.83 | 20.40 | 20.52 | 21.04 |
| — | — | +8.3% | +4.3% | -1.4% | -3.2% | +3.6% | -0.5% | +3.8% | +3.5% | -2.3% | -8.9% | -4.1% | |
| Current Ratio | — | — | 0.46 | 0.20 | 0.28 | 1.86 | 2.89 | 2.03 | 0.32 | 0.31 | 2.13 | 0.11 | 0.17 |
| — | — | -84.1% | -90.1% | -13.9% | +504.5% | +36.1% | +1816.3% | +93.1% | +32.0% | +476.7% | -85.1% | -89.9% | |
| Quick Ratio | — | — | 0.46 | 0.20 | 0.28 | 1.86 | 2.89 | 2.03 | 0.32 | 0.31 | 2.13 | 0.11 | 0.17 |
| — | — | -84.1% | -90.1% | -13.9% | +504.5% | +36.1% | +1816.3% | +93.1% | +32.0% | +476.7% | -85.1% | -89.9% | |
| Interest Coverage | 2.89 | 2.77 | 2.92 | 3.04 | 3.01 | 3.07 | 3.09 | 3.27 | 3.14 | 3.22 | 3.56 | 3.46 | 3.32 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Start ComparisonNNN REIT, Inc.'s current P/E is 21.9x. The average P/E over the last 4 quarters is 20.3x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
NNN REIT, Inc.'s current operating margin is 63.6%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking NNN REIT, Inc.'s business trajectory between earnings reports.