ZYBERNO
Stock Report
Updated Aug 30, 2026

Broadstone Net Lease, Inc. (BNL)

Financial Services • NYSE

$21.09
Broadstone Net Lease Inc. is an American real estate investment trust headquartered in Rochester, New York, that acquires, owns, and manages single-tenant commercial real estate subject to long-term net leases. The company's diversified portfolio includes industrial, healthcare, restaurants, and retail properties leased to middle-market tenants under long-term triple-net leases across the United States.

Professional Investment Analysis

ZYBERNO SCORE
Is it a great business? Is it getting better?
30.0/100
WEAK BUSINESS
Broadstone Net Lease, Inc. (BNL) scores 30/100 — weak fundamentals with mixed indicators requiring careful analysis before acting.
📊 How is the Zyberno Score calculated? +
VALUATION SIGNAL
MARGIN OF SAFETY
Is this stock cheap or expensive relative to what the business has historically generated for owners?
+23.8%
Undervalued
Growth gap unavailable — insufficient data for reverse DCF calculation.
🎯 Expected Annual Return
14.7%
5-year annualised assuming price converges to intrinsic value
💰 How is Margin of Safety calculated? +
📈 How is Brina Gap calculated? +

Critical Financial Health Indicators

Return on Equity (Profitability):CRITICAL (4.8%)
Debt-to-Equity (Solvency Risk):AVERAGE (0.88x)
Operating Margin (Operational Efficiency):CRITICAL (0.0%)
Return on Capital (Capital Efficiency):CRITICAL (0.0%)
📊 Valuation Trilogy
Three interconnected metrics for complete valuation analysis
Click any metric for full methodology and detailed analysis
Zyberno's Verdict

Broadstone Net Lease, Inc. (BNL) stock report — Zyberno Score 30/100 (WEAK BUSINESS), Margin of Safety +23.8%, 15% expected annual return. Full financial analysis on Zyberno.

According to Zyberno's DCF model, Broadstone Net Lease, Inc. (BNL) trades at $21.09 against an estimated intrinsic value per share of $27.66 — a +23.8% Margin of Safety based on Owner Earnings of $287.41M TTM, projected at 8.6% growth for 10 years with a 2.5% terminal growth rate. Zyberno's model translates this into a 5-year expected return of 14.7% annually.

Over the trailing twelve months, BNL generated $287.41M in Owner Earnings. Capital was deployed as follows: $218.27M paid as dividends, $16.72M invested in capital expenditures. Owner Earnings have grown at 8.6% annually over the trailing five years using log-linear regression.

DIVISION I: EXECUTIVE SUMMARY
A. Market Valuation

Market Price & Capitalization (2)

Current Price:21.09
Market Cap:$4.02B

Valuation Multiples (4)

P/B Ratio:1.33x
P/S Ratio:8.45x
Peg Ratio:0.57x

Enterprise Metrics (3)

Enterprise Value:$7.01B
Ev Ebitda Ratio:41.36x
Pfcf Ratio:13.99x

Price Action & Momentum (3)

Momentum Percentile:75 / 100
% of 52-Week High:91.3%
B. Profitability Assessment

Margin Analysis (2)

Net Margin Ttm:30.6%
Ebitda Margin:35.6%

TTM Performance (1)

Net Margin Ttm:30.6%

Yield Metrics (3)

Earnings Yield:$3.60
Owner Earnings Yield:$7.15
Dividend Yield:5.4%
C. Log-Linear Regression Growth Trends

Earnings Surprise (SUE) (3)

EPS Surprise vs Expected:114.0%
Latest Earnings Filed:2026-07-29

Revenue Growth (Linear) (1)

Revenue Growth Rate (Linear):2.7%

Earnings Growth (Linear) (1)

Net Income Growth Rate (Linear):-2.4%

Cash Flow Growth (Linear) (2)

Free Cash Flow Growth Rate (Linear):8.6%
Operating Cash Flow Growth Rate (Linear):4.1%
D. Financial Stability

Liquidity Ratios (3)

Current Ratio:0.01x
Quick Ratio:0.01x
Cash Ratio:0.01x

Leverage Analysis (3)

Debt To Equity Ttm:0.88x
Debt-to-Equity Ratio:0.88x
Debt To Ebitda:17.74x

Coverage Ratios (2)

Interest Coverage Ratio:0.00x
Times Interest Earned:0.00

Capital Structure (4)

Working Capital:-2,803,368,000.00
Cash And Cash Equivalents:20,310,000.00
Long Term Debt:$2.65B
Net Debt:$2.99B
DIVISION II: FINANCIAL STATEMENTS ANALYSIS
A. Income Statement Analysis

Revenue Components (2)

Revenue TTM: $476.17M
Linear Growth: 2.7%
📊 Click to view full BNL Revenue analysis & methodology →
Cost Of Revenue Ttm:$0.00

Profitability Breakdown (2)

$0.00$0.00

Bottom Line Performance (3)

Net income TTM: $145.76M
Linear Growth: -2.4%
📊 Click to view full BNL Net Income analysis & methodology →
Income Before Tax:$0.00
Ebitda Ttm:169,412,000.00

Operating Expenses (5)

Operating Expenses:254,218,000.00
R And D Expense:0.00
Sga Expense:41,886,000.00
Income Tax Expense:$1.06M
Interest Expense:104,326,000.00

Expense Ratios (3)

R And D To Revenue Percentage:0.0%
Sga To Revenue Percentage:34.2%
Ebitda Margin:35.6%
B. Balance Sheet Analysis

Asset Composition (5)

Total Assets:$5.85B
Current Assets:$20.31M
Ppe Net:0.00
Goodwill:339,769,000.00
Intangible Assets:$261.98M

Liability Structure (4)

Total Liabilities:2,823,678,000.00
Current Liabilities:2,823,678,000.00
Long Term Debt:$2.65B
Short Term Debt:$351.60M

Equity & Capital (3)

Equity:$3.02B
Retained Earnings:$0.00
Common Stock:500,000,000.00

Working Capital Items (3)

Accounts Receivable:166,436,000.00
Inventory:0.00
Accounts Payable:0.00

Special Items (2)

Contract Liabilities:0.00
Stock Based Compensation:2,566,000.00
C. Cash Flow Analysis

Operating Activities (2)

Operating cash flow TTM: $304.13M
Linear Growth: 4.1%
Free cash flow TTM: $287.41M
Linear Growth: 8.6%
📊 Click to view full BNL Free Cash Flow analysis & methodology →

Investment Activities (2)

Investing Cash Flow:-$162.41M
Capital Expenditures Ttm:16,722,000.00

Financing Activities (3)

Financing Cash Flow:$74.36M
Dividends Paid Ttm:218,271,000.00
Stock Repurchase:0.00

Capital Transactions (3)

Common Stock Issuance:37,930,000.00
Long Term Debt Issuance:$0.00
Long Term Debt Repayments:$0.00

Non-Cash Items (1)

Depreciation Amortization Ttm:169,412,000.00
DIVISION III: OPERATIONAL METRICS
A. Per Share Analysis

Earnings Per Share (3)

EPS (Basic TTM):0.76
Eps diluted TTM: $0.76
Linear Growth: -5.1%
📊 Click to view full BNL EPS analysis & methodology →
Earnings Per Share Ttm:$0.76

Revenue & Cash Per Share (3)

Sales Per Share Ttm:2.50
Operating Cash Flow Per Share:$1.57
Fcf Per Share Ttm:1.51

Book Value & Capital (2)

Book Value Per Share:$15.84
Cash Per Share:0.11

Dividend Policy (1)

Dividend Payout Ratio:161.17x
B. Operational Efficiency

Asset Utilization (2)

Asset Turnover Ttm:0.08x
Working Capital Turnover Ttm:-999.00x

Receivables Management (2)

Receivables Turnover Ttm:2.86x
Days Sales Outstanding Ttm:127.58

Inventory Management (2)

Inventory Turnover Ttm:-999.00x
Days Inventory Outstanding Ttm:-999.00

Payables & Cash Cycle (2)

Days Payable Outstanding:-999.00
Cash Conversion Cycle:127.58
C. Quality & Risk Metrics

Financial Quality Scores (2)

Financial Strength Score:0.00
Quality Score:75.00

Market Metrics (2)

Beta:0.00x
Volatility Category:unknown
DIVISION IV: INVESTMENT ANALYSIS
A. Value Investment Framework

Owner Earnings Analysis (3)

Owner earnings TTM: $287.41M
Linear Growth: 8.6%
📊 Click to view full BNL Owner Earnings analysis & methodology →
Owner Earnings Per Share:$1.51
Owner Earnings Yield:$7.15

Growth Assessment (1)

Owner Earnings Growth Rate:$8.64

Intrinsic Value Models (1)

Margin of Safety (1)

Return Scenarios (1)

Investment Assessment (1)

Buffett Assessment:Good margin of safety
B. Log-Linear Regression Growth Analysis

Growth Rates (Log-Linear Regression) (2)

Revenue Growth Rate (Linear):2.7%
Net Income Growth Rate (Linear):-2.4%

Cash Flow Growth Rates (2)

Free Cash Flow Growth Rate (Linear):8.6%
Operating Cash Flow Growth Rate (Linear):4.1%

Other Growth Rates (2)

Book Value Growth Rate (Linear):0.1%
Owner Earnings Growth Rate:$8.64
C. Company Profile & Context

Corporate Information (6)

Symbol:BNL
Company Name:Broadstone Net Lease, Inc.
Sector:Financial Services
Industry:Real Estate
Exchange:NYSE
Country:United States

Market Classification (3)

Market Cap Category:N/A
Price Category:medium
Volume Category:N/A

Share Structure (3)

Shares Outstanding:190.69M
Shares Outstanding Basic:190.69M
Shares Outstanding Diluted:200.26M

Data Processing Info (3)

Processing Version:v3.0
Last Updated:2026-08-30 11:09:49 UTC
Data Timestamp:2026-08-30T11:09:49.105628
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