Last 48 quarters of trend data · Real Estate · Net Lease REITs
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 19.78 | 18.02 | 22.37 | 21.02 | 19.43 | 20.87 | 19.99 | 20.91 | 19.64 | 22.87 | 18.36 | 20.55 | 20.31 | 14.97 | 19.81 | 22.07 | 22.88 | 19.93 | 25.60 | 24.42 | 32.48 |
| — | -13.6% | +11.9% | +0.5% | -1.1% | -8.8% | +8.9% | +1.7% | -3.3% | +52.7% | -7.3% | -6.9% | -11.2% | -24.9% | -22.6% | -9.6% | -29.6% | -16.9% | -14.8% | -33.5% | +3.0% | |
| P/S Ratio | 8.04 | 7.87 | 9.03 | 8.28 | 7.86 | 8.71 | 8.90 | 8.64 | 8.73 | 10.24 | 8.98 | 9.04 | 9.07 | 7.83 | 9.59 | 9.81 | 10.34 | 9.14 | 9.87 | 10.33 | 11.22 |
| — | -9.6% | +1.4% | -4.2% | -9.9% | -14.9% | -0.8% | -4.4% | -3.7% | +30.8% | -6.3% | -7.9% | -12.3% | -14.3% | -2.8% | -5.0% | -7.8% | -12.7% | -13.7% | -3.5% | +2.6% | |
| P/B Ratio | 1.75 | 1.73 | 1.98 | 1.81 | 1.70 | 1.81 | 1.85 | 1.83 | 1.75 | 2.05 | 1.86 | 1.87 | 1.89 | 1.54 | 1.87 | 1.94 | 1.99 | 1.76 | 1.92 | 2.02 | 2.15 |
| — | -4.8% | +6.8% | -1.1% | -2.8% | -11.5% | -0.3% | -1.8% | -7.2% | +32.6% | -0.9% | -3.7% | -5.3% | -12.5% | -2.6% | -3.9% | -7.6% | -0.4% | +0.3% | +12.3% | +30.3% | |
| P/FCF | 743.84 | — | — | 10.64 | 14.86 | 9.18 | 16.91 | 9.81 | 16.21 | 10.83 | 16.16 | 10.21 | 16.12 | 8.38 | 16.40 | 11.07 | 18.16 | 9.30 | 16.96 | 11.96 | 18.23 |
| — | — | — | +8.5% | -8.4% | -15.2% | +4.6% | -3.9% | +0.6% | +29.2% | -1.5% | -7.8% | -11.2% | -9.9% | -3.3% | -7.4% | -0.4% | -15.0% | -0.9% | +0.1% | +3.5% | |
| EV / EBITDA | 14.15 | 13.44 | 15.61 | 14.83 | 14.20 | 14.83 | 14.57 | 14.95 | 14.49 | 15.89 | 14.16 | 15.25 | 15.27 | 12.76 | 14.91 | 15.90 | 16.33 | 14.94 | 16.81 | 16.92 | 17.87 |
| — | -9.4% | +7.1% | -0.8% | -2.0% | -6.6% | +2.9% | -2.0% | -5.1% | +24.5% | -5.0% | -4.1% | -6.5% | -14.6% | -11.3% | -6.0% | -8.6% | -6.9% | -6.2% | +2.8% | +0.8% | |
| EV / EBIT | 22.18 | 19.47 | 22.82 | 21.84 | 20.63 | 21.25 | 21.22 | 21.61 | 20.72 | 22.76 | 19.85 | 21.91 | 21.78 | 17.82 | 21.33 | 23.18 | 23.62 | 21.66 | 25.51 | 24.46 | 26.22 |
| — | -8.4% | +7.5% | +1.0% | -0.4% | -6.6% | +6.9% | -1.3% | -4.9% | +27.7% | -6.9% | -5.5% | -7.8% | -17.7% | -16.4% | -5.2% | -9.9% | -6.1% | -3.8% | -16.6% | -3.0% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 38.0% | 96.7% | 96.6% | 95.9% | 38.6% | 96.0% | 96.1% | 95.9% | 94.9% | 96.7% | 96.9% | 96.7% | 96.2% | 96.9% | 96.6% | 96.6% | 96.5% | 97.0% | 96.8% | 96.2% | 96.0% |
| — | +0.7% | +0.5% | -0.0% | -59.4% | -0.7% | -0.8% | -0.8% | -1.3% | -0.2% | +0.3% | +0.0% | -0.3% | -0.1% | -0.1% | +0.4% | +0.5% | +0.6% | +0.5% | +0.5% | +1.0% | |
| Operating Margin | 61.5% | 66.1% | 61.5% | 60.4% | 62.3% | 64.0% | 66.0% | 62.3% | 65.8% | 65.7% | 70.2% | 64.2% | 64.6% | 72.0% | 68.5% | 63.2% | 64.6% | 64.8% | 58.1% | 62.0% | 61.0% |
| — | +3.2% | -6.8% | -3.1% | -5.3% | -2.6% | -6.0% | -3.0% | +1.8% | -8.8% | +2.6% | +1.6% | -0.0% | +11.1% | +17.8% | +1.9% | +6.0% | +0.4% | -1.9% | -0.8% | +6.7% | |
| Net Margin | 42.1% | 44.0% | 40.1% | 39.1% | 40.2% | 42.1% | 44.3% | 41.8% | 44.8% | 44.8% | 49.2% | 43.8% | 44.7% | 52.1% | 48.7% | 44.2% | 45.7% | 45.7% | 38.9% | 42.8% | 41.4% |
| — | +4.6% | -9.6% | -6.5% | -10.2% | -6.1% | -9.9% | -4.6% | +0.2% | -14.0% | +1.0% | -0.8% | -2.1% | +13.9% | +25.3% | +3.3% | +10.2% | -0.6% | -4.7% | +35.9% | +10.4% |
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.9% | 2.4% | 2.2% | 2.1% | 2.2% | 2.2% | 2.3% | 2.2% | 2.2% | 2.3% | 2.5% | 2.3% | 2.3% | 2.6% | 2.4% | 2.2% | 2.2% | 2.2% | 1.9% | 2.1% | 1.9% |
| — | +10.6% | -4.1% | -3.5% | -3.1% | -3.6% | -9.5% | -2.3% | -3.6% | -11.1% | +7.0% | +3.7% | +4.3% | +15.2% | +25.5% | +4.7% | +17.3% | +14.8% | +11.3% | +58.7% | +33.5% | |
| ROA | 4.3% | 1.1% | 1.0% | 1.0% | 1.0% | 1.0% | 1.1% | 1.1% | 1.1% | 1.1% | 1.2% | 1.1% | 1.1% | 1.3% | 1.2% | 1.1% | 1.1% | 1.1% | 1.0% | 1.0% | 1.0% |
| — | +9.4% | -7.0% | -7.3% | -7.5% | -6.3% | -9.6% | -0.8% | -2.0% | -12.2% | +2.8% | -1.3% | -0.3% | +12.5% | +25.0% | +5.0% | +15.3% | +7.0% | +0.3% | +42.2% | +21.7% | |
| ROIC | 4.8% | 1.3% | 1.2% | 1.2% | 1.2% | 1.2% | 1.3% | 1.2% | 1.2% | 1.3% | 1.3% | 1.2% | 1.2% | 1.3% | 1.3% | 1.2% | 1.2% | 1.2% | 1.1% | 1.2% | 1.1% |
| — | +6.9% | -4.2% | -4.0% | -2.6% | -3.0% | -5.7% | +0.8% | +0.1% | -6.3% | +4.7% | +1.5% | +2.5% | +10.5% | +17.3% | +2.1% | +6.0% | +2.8% | -0.1% | +1.4% | +18.7% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.09 | 1.10 | 1.12 | 1.10 | 1.09 | 1.10 | 1.06 | 1.03 | 1.00 | 1.00 | 1.04 | 1.04 | 1.05 | 1.02 | 0.98 | 0.96 | 0.95 | 0.95 | 0.97 | 0.96 | 0.96 |
| — | -0.4% | +5.3% | +7.1% | +9.1% | +10.1% | +1.9% | -1.0% | -4.4% | -1.6% | +6.4% | +8.7% | +10.4% | +7.3% | +1.5% | -0.4% | -1.1% | +7.8% | +24.8% | +24.6% | +28.8% | |
| Debt / EBITDA | 5.75 | 20.89 | 22.59 | 22.48 | 22.24 | 22.70 | 21.29 | 21.55 | 21.14 | 21.13 | 20.41 | 21.85 | 21.83 | 20.40 | 20.52 | 21.04 | 21.10 | 20.89 | 22.51 | 21.95 | 22.36 |
| — | -8.0% | +6.1% | +4.3% | +5.2% | +7.4% | +4.3% | -1.4% | -3.2% | +3.6% | -0.5% | +3.8% | +3.5% | -2.3% | -8.9% | -4.1% | -5.6% | -6.7% | +6.7% | +7.7% | -1.2% | |
| Current Ratio | 0.19 | 0.46 | 0.66 | 0.48 | 0.19 | 0.47 | 0.20 | 0.28 | 1.86 | 2.89 | 2.03 | 0.32 | 0.31 | 2.13 | 0.11 | 0.17 | 0.23 | 0.37 | 0.71 | 1.63 | 9.17 |
| — | -1.2% | +228.8% | +72.4% | -89.8% | -83.8% | -90.1% | -13.9% | +504.5% | +36.1% | +1816.3% | +93.1% | +32.0% | +476.7% | -85.1% | -89.9% | -97.5% | -96.7% | -95.0% | -80.2% | -46.6% | |
| Quick Ratio | 0.19 | 0.46 | 0.66 | 0.48 | 0.19 | 0.47 | 0.20 | 0.28 | 1.86 | 2.89 | 2.03 | 0.32 | 0.31 | 2.13 | 0.11 | 0.17 | 0.23 | 0.37 | 0.71 | 1.63 | 9.17 |
| — | -1.2% | +228.8% | +72.4% | -89.8% | -83.8% | -90.1% | -13.9% | +504.5% | +36.1% | +1816.3% | +93.1% | +32.0% | +476.7% | -85.1% | -89.9% | -97.5% | -96.7% | -95.0% | -80.2% | -46.6% | |
| Interest Coverage | 2.93 | 2.99 | 2.83 | 2.78 | 2.80 | 2.83 | 3.04 | 3.02 | 3.09 | 3.11 | 3.29 | 3.14 | 3.23 | 3.57 | 3.46 | 3.32 | 3.41 | 3.39 | 3.02 | 3.22 | 3.11 |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying NNN stock.
NNN REIT, Inc.'s current P/E is 19.8x. The average P/E over the last 4 quarters is 20.2x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
NNN REIT, Inc.'s current operating margin is 61.5%. 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.