NNN REIT, Inc. (NNN) P/E Ratio History
Historical price-to-earnings valuation from 1990 to 2026
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NNN Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 6, 2026, NNN REIT, Inc. (NNN) trades at a price-to-earnings ratio of 21.5x, with a stock price of $44.41 and trailing twelve-month earnings per share of $2.04.
The current P/E is roughly in line with its 5-year average of 22.9x. Over the past five years, NNN's P/E has ranged from a low of 16.6x to a high of 35.7x, placing the current valuation at the 55th percentile of its historical range.
Compared to the Real Estate sector median P/E of 24.1x, NNN is roughly in line with its sector peers. The sector includes 170 companies with P/E ratios ranging from 1.1x to 165.1x.
The PEG ratio of 1.92 (P/E divided by -4% EPS growth) suggests a fair valuation relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, NNN trades roughly in line with the S&P 500 median P/E of 25.1x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our NNN DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
NNN P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $59B | 54.3 | - | +19% | |
| $9B | 42.9 | - | -1% | |
| $7B | 24.4 | 1.02Best | +11% | |
| $16B | 34.7 | - | +1% | |
| $2B | 254.0 | 4.34 | +150%Best | |
| $2B | 24.4 | - | +8% | |
| $3B | 23.1Lowest | - | +2% | |
| $203B | 25.0 | 3.27 | -1% | |
| $43B | 27.7 | 2.04 | +7% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
NNN Historical P/E Data (1990–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | $42.03 | $2.06 | 20.4x | -0% | |
| FY2025 Q4 | Wed Dec 31 2025 00:00:00 GM | $39.63 | $2.07 | 19.1x | -6% |
| FY2025 Q3 | $42.57 | $2.08 | 20.5x | +0% | |
| FY2025 Q2 | Mon Jun 30 2025 00:00:00 GM | $43.18 | $2.10 | 20.6x | +0% |
| FY2025 Q1 | Mon Mar 31 2025 00:00:00 GM | $42.65 | $2.14 | 19.9x | -3% |
| FY2024 Q4 | $40.85 | $2.15 | 19.0x | -7% | |
| FY2024 Q3 | Mon Sep 30 2024 00:00:00 GM | $48.49 | $2.16 | 22.4x | +10% |
| FY2024 Q2 | Sun Jun 30 2024 00:00:00 GM | $42.60 | $2.22 | 19.2x | -6% |
| FY2024 Q1 | Sun Mar 31 2024 00:00:00 GM | $42.74 | $2.18 | 19.6x | -4% |
| FY2023 Q4 | Sun Dec 31 2023 00:00:00 GM | $43.10 | $2.16 | 19.9x | -3% |
| FY2023 Q3 | Sat Sep 30 2023 00:00:00 GM | $35.34 | $2.13 | 16.6x | -19% |
| FY2023 Q2 | Fri Jun 30 2023 00:00:00 GM | $42.79 | $2.04 | 21.0x | +2% |
Average P/E for displayed period: 20.5x
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Start ComparisonNNN — Frequently Asked Questions
Quick answers to the most common questions about buying NNN stock.
Is NNN stock overvalued or undervalued?
NNN trades at 21.5x P/E, near its 5-year average of 22.9x. The 55th percentile ranking places valuation within normal historical bounds.
How does NNN's valuation compare to peers?
NNN REIT, Inc. P/E of 21.5x compares to sector median of 24.1x. The discount suggests lower growth expectations or higher risk.
What is NNN's PEG ratio?
NNN PEG ratio is 1.92. Between 1-2 suggests valuation aligns with growth. Historical P/E data spans 1990-2026.