NNN REIT, Inc. (NNN) quarterly income statement — complete revenue, gross profit & net income history
| Metric | 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 | Q3'21 | Q2'21 |
|---|
| Revenue | 240.42M | 238.4M | 230.16M | 226.8M | 230.85M | 218.48M | 218.56M | 216.81M | 215.41M | 216.23M | 205.13M | 202.64M | 204.11M | 198.52M | 193.47M | 190.78M | 190.28M | 187.26M | 180.36M | 179.01M |
| Revenue Growth % | 4.15% | 9.12% | 5.31% | 4.61% | 7.17% | 1.04% | 6.55% | 6.99% | 5.54% | 8.92% | 6.03% | 6.21% | 7.27% | 6.01% | 7.27% | 6.58% | 5.84% | 14.68% | 13.69% | 9.35% |
| Property Operating Expenses | 9.8M | 146.48M | 9.13M | 8.84M | 9.38M | 11.14M | 7.26M | 6.76M | 7.15M | 8.24M | 6.46M | 6.84M | 6.85M | 7.04M | 5.88M | 6.17M | 7.2M | 7.52M | 6.52M | 6.62M |
| Net Operating Income (NOI) | 230.63M | 91.92M | 221.03M | 217.96M | 221.48M | 207.34M | 211.3M | 210.06M | 208.25M | 207.99M | 198.67M | 195.8M | 197.26M | 191.49M | 187.6M | 184.61M | 183.08M | 179.74M | 173.84M | 172.39M |
| NOI Margin % | 95.92% | 38.56% | 96.03% | 96.1% | 95.94% | 94.9% | 96.68% | 96.88% | 96.68% | 96.19% | 96.85% | 96.63% | 96.65% | 96.46% | 96.96% | 96.76% | 96.22% | 95.98% | 96.38% | 96.3% |
| Operating Expenses | 14.11M | -56.37M | 73.75M | 68.17M | 77.63M | 63.61M | 67.75M | 57.79M | 69.93M | 68.31M | 51.01M | 57.08M | 68.24M | 63.19M | 62.25M | 73.76M | 65.04M | 65.54M | 57.45M | 66.32M |
| G&A Expenses | 14.11M | 11.64M | 11.06M | 11.29M | 15.31M | 8.77M | 11.39M | 11.81M | 12.93M | 13.18M | 10.47M | 11.1M | 12.75M | 11.56M | 10.78M | 12.47M | 14.72M | 10M | 11.16M | 11.89M |
| EBITDA | 217.45M | 216.78M | 214.53M | 218.15M | 208.47M | 206.93M | 206.92M | 214.77M | 198.94M | 199.77M | 207.19M | 198.6M | 188.17M | 185.62M | 181.74M | 168.3M | 170.72M | 167.59M | 167.37M | 156.95M |
| EBITDA Margin % | 90.44% | 90.93% | 93.21% | 96.18% | 90.3% | 94.71% | 94.67% | 99.06% | 92.35% | 92.39% | 101% | 98.01% | 92.19% | 93.5% | 93.94% | 88.21% | 89.72% | 89.49% | 92.8% | 87.68% |
| Depreciation & Amortization | 70.8M | 68.22M | 67.25M | 68.35M | 64.62M | 63.19M | 63.37M | 62.5M | 60.62M | 60.08M | 59.52M | 59.88M | 59.15M | 57.32M | 56.39M | 57.44M | 52.68M | 53.39M | 50.98M | 50.88M |
| D&A / Revenue % | 29.45% | 28.62% | 29.22% | 30.14% | 27.99% | 28.92% | 28.99% | 28.83% | 28.14% | 27.78% | 29.02% | 29.55% | 28.98% | 28.87% | 29.15% | 30.11% | 27.69% | 28.51% | 28.26% | 28.42% |
| Operating Income | 146.65M | 148.56M | 147.28M | 149.8M | 143.85M | 143.73M | 143.55M | 152.27M | 138.32M | 139.69M | 147.67M | 138.72M | 129.03M | 128.3M | 125.35M | 110.85M | 118.04M | 114.2M | 116.39M | 106.07M |
| Operating Margin % | 61% | 62.32% | 63.99% | 66.05% | 62.31% | 65.79% | 65.68% | 70.23% | 64.21% | 64.6% | 71.99% | 68.46% | 63.21% | 64.63% | 64.79% | 58.1% | 62.03% | 60.98% | 64.53% | 59.26% |
| Interest Expense | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Interest Coverage | 2.78x | 2.80x | 2.83x | 3.04x | 3.02x | 3.09x | 3.11x | 3.29x | 3.14x | 3.23x | 3.57x | 3.46x | 3.32x | 3.41x | 3.39x | 3.02x | 3.22x | 3.11x | 3.47x | 3.21x |
| Non-Operating Income | 0 | 0 | -2.94M | -15K | -329K | -1.04M | -845K | -976K | -119K | -383K | -644K | -74K | -33K | -29K | -33K | -52K | -35K | -57K | -61K | -33K |
| Pretax Income | 93.95M | 95.95M | 96.84M | 100.53M | 96.46M | 97.89M | 97.9M | 106.67M | 94.37M | 96.68M | 106.79M | 98.7M | 90.17M | 90.66M | 88.42M | 74.17M | 81.37M | 77.57M | 82.93M | 73.02M |
| Pretax Margin % | 39.08% | 40.25% | 42.07% | 44.32% | 41.78% | 44.81% | 44.79% | 49.2% | 43.81% | 44.71% | 52.06% | 48.71% | 44.18% | 45.67% | 45.7% | 38.87% | 42.77% | 41.42% | 45.98% | 40.79% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | 93.95M | 95.95M | 96.84M | 100.53M | 96.46M | 97.89M | 97.9M | 106.67M | 94.37M | 96.68M | 106.79M | 98.7M | 90.17M | 90.66M | 88.42M | 74.17M | 81.37M | 77.57M | 82.93M | 73.02M |
| Net Margin % | 39.08% | 40.25% | 42.07% | 44.32% | 41.78% | 44.81% | 44.79% | 49.2% | 43.81% | 44.71% | 52.06% | 48.71% | 44.18% | 45.67% | 45.7% | 38.88% | 42.76% | 41.42% | 45.98% | 40.79% |
| Net Income Growth % | -2.6% | -1.98% | -1.09% | -5.75% | 2.21% | 1.25% | -8.32% | 8.07% | 4.66% | 6.64% | 20.77% | 33.08% | 10.81% | 16.88% | 6.62% | 1.57% | 43.8% | 26.57% | 47.91% | 57.84% |
| Funds From Operations (FFO) | 164.75M | 164.17M | 164.09M | 168.88M | 161.07M | 161.09M | 161.27M | 169.17M | 154.99M | 156.76M | 166.31M | 158.58M | 149.31M | 147.98M | 144.81M | 131.62M | 134.05M | 130.96M | 133.91M | 123.9M |
| FFO Margin % | 68.52% | 68.86% | 71.29% | 74.46% | 69.77% | 73.73% | 73.79% | 78.03% | 71.95% | 72.5% | 81.07% | 78.26% | 73.15% | 74.54% | 74.85% | 68.99% | 70.45% | 69.93% | 74.25% | 69.21% |
| FFO Growth % | 2.28% | 1.91% | 1.75% | -0.17% | 3.93% | 2.76% | -3.03% | 6.68% | 3.8% | 5.93% | 14.85% | 20.49% | 11.39% | 13% | 8.14% | 6.23% | 25.79% | 18.64% | 26.96% | 30.14% |
| FFO per Share | 0.87 | 0.87 | 0.87 | 0.90 | 0.86 | 0.86 | 0.87 | 0.93 | 0.85 | 0.86 | 0.92 | 0.87 | 0.82 | 0.82 | 0.82 | 0.75 | 0.77 | 0.75 | 0.77 | 0.71 |
| FFO Payout Ratio % | 68.89% | 69.13% | 68.75% | 64.29% | 67.26% | 67.24% | 65.77% | 60.98% | 66.25% | 65.49% | 61.72% | 62.9% | 66.57% | 66.16% | 66.99% | 70.57% | 69.19% | 70.82% | 69.25% | 73.42% |
| EPS (Diluted) | 0.50 | 0.51 | 0.51 | 0.54 | 0.51 | 0.52 | 0.53 | 0.58 | 0.52 | 0.53 | 0.59 | 0.54 | 0.50 | 0.50 | 0.50 | 0.42 | 0.46 | 0.37 | 0.45 | 0.39 |
| EPS Growth % | -1.96% | -1.92% | -3.77% | -6.9% | -1.92% | -1.99% | -10.17% | 7.41% | 4% | 6.11% | 18% | 28.57% | 8.7% | 35.14% | 11.11% | 7.69% | 53.33% | 14.09% | 50% | 62.5% |
| EPS (Basic) | 0.50 | 0.51 | 0.51 | 0.54 | 0.52 | 0.52 | 0.53 | 0.58 | 0.52 | 0.53 | 0.59 | 0.54 | 0.50 | 0.51 | 0.50 | 0.42 | 0.46 | 0.37 | 0.45 | 0.39 |
| Diluted Shares Outstanding | 189.46M | 189.24M | 188.33M | 187.07M | 187.08M | 186.83M | 184.56M | 182.81M | 182.21M | 181.93M | 181.72M | 181.63M | 181.43M | 179.47M | 177.37M | 175.11M | 174.91M | 174.87M | 174.74M | 174.73M |