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NNN REIT, INC. NNN

NYSE · reit · Real Estate Investment Trusts · website · IPO 1984-10-10 · LEI

NNN REIT, INC. statistics & valuation

P / E23.1×
P / S9.7×
P / B2.0×
Net margin42.1%
Graham number -28.9%$32.88

Market cap as of 2026-06-30. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($32.88); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
44.90% 45.30% 47.00% 44.60% 34.60% 39.90% 43.30% 47.40% 45.70% 42.10% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
63.00% 64.00% 68.20% 62.10% 56.70% 61.80% 62.40% 67.00% 66.50% 63.60% 2016201720182019202020212022202320242025
Return on equity (%)
6.10% 6.90% 7.00% 6.90% 5.30% 7.40% 8.10% 9.40% 9.10% 8.80% 2016201720182019202020212022202320242025
Shares outstanding
147.1M 153.6M 161.5M 171.7M 175.2M 175.6M 181.4M 182.5M 187.5M 189.9M 2016201720182019202020212022202320242025
Net debt ($)
2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
3.80% 4.00% 4.10% 4.00% 3.00% 3.70% 4.10% 4.50% 4.50% 4.20% 2016201720182019202020212022202320242025
Free cash flow margin (%)
2016201720182019202020212022202320242025
Debt / equity (×)
2016201720182019202020212022202320242025
EPS ($)
$1.38 $1.45 $1.65 $1.56 $1.22 $1.51 $1.89 $2.16 $2.15 $2.07 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

NNN REIT, INC. trades at about 22.3× earnings — below its 10-year norm (10-year range 18.3×–35.9×, median 29.4×).

18.3× 35.9×

Shaded band = 10-year range (18.3×–35.9×); dot = today's 22.3×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin63.6%66.5%67.0%62.4%61.8%56.7%62.1%68.2%64.0%63.0%
Net margin42.1%45.7%47.4%43.3%39.9%34.6%44.6%47.0%45.3%44.9%
Return on assets4.2%4.5%4.5%4.1%3.7%3.0%4.0%4.1%4.0%3.8%
Return on equity8.8%9.1%9.4%8.1%7.4%5.3%6.9%7.0%6.9%6.1%

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.