NNN REIT Inc
Research NNN REIT Inc (NNN) on Bullrun: valuation model: 1.9% undervalued, market cap USD 8.85B, P/E 22.7, dividend yield 5.3%. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerNNN
- ExchangeNYSE
- CountryUnited States
- SectorReal Estate
- IndustryREIT-Retail
- CurrencyUSD
- Valuation signal1.9% undervalued
- Market capUSD 8.85B
- P/E22.7
- Dividend yield5.3%
- Financial periodQ2 2026
- RevenueUSD 244.27M
- Net incomeUSD 97.92M
- Free cash flowUSD 141.55M
- Gross margin96.6%
Valuation Snapshot
Bullrun's latest valuation model marks NNN REIT Inc as 1.9% undervalued; latest market cap is USD 8.85B; P/E is 22.7; dividend yield is 5.3%.
Peer valuation comparison
Latest P/E is 22.72x versus a Real Estate sector median of 14.84x (53.2% above).
Latest dividend yield is 5.34% versus a Real Estate sector median of 4.71% (13.5% above).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | USD 926.21M | USD 389.78M | USD 667.13M | 96.0% | 2.07 | USD 5.05M | USD 4.82B | USD 4.41B |
| FY2024 | USD 869.27M | USD 396.84M | USD 635.50M | 96.3% | 2.15 | USD 8.73M | USD 4.37B | USD 4.36B |
| FY2023 | USD 828.11M | USD 392.34M | n/a | n/a | 2.16 | USD 1.19M | USD 4.36B | USD 4.16B |
| FY2022 | USD 773.05M | USD 334.63M | n/a | n/a | 1.89 | USD 2.51M | USD 3.79B | USD 4.12B |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-08-25 | USD 8.85B | 22.7 | 5.2% | 2.42 |
| 2025 | 2025-12-31 | USD 7.53B | 19.1 | 6.0% | 2.36 |
| 2024 | 2024-12-31 | USD 7.66B | 19.0 | 5.6% | 2.3 |
| 2023 | 2023-12-29 | USD 7.86B | 20.2 | 5.2% | 2.24 |
| 2022 | 2022-12-30 | USD 8.18B | 26.0 | 4.7% | 2.16 |
| 2021 | 2021-12-31 | USD 8.44B | 31.8 | 4.4% | 2.1 |
Dividend history
Latest trailing dividend snapshot: annual dividend/share 2.42 USD, yield 5.3%.
| Year | Dividends/share |
|---|---|
| FY2025 | 2.36 USD |
| FY2024 | 2.29 USD |
| FY2023 | 2.23 USD |
| FY2022 | 2.16 USD |
About NNN REIT Inc
NNN REIT, Inc. is a REIT that invests in high-quality properties subjected generally to long-term, net leases with minimal ongoing capital expenditures. As of June 30, 2026, the Company owned 3,774 properties across 50 states, the District of Columbia and Puerto Rico, encompassing approximately 40.4 million square feet of gross leasable area, with a weighted average remaining lease term of 10.1 years. NNN REIT, Inc. was incorporated in August 1984 in Maryland and is based in Orlando, Florida.
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Frequently asked questions
Is NNN REIT Inc overvalued or undervalued?
Bullrun's valuation model currently marks NNN REIT Inc as 1.9% undervalued.
What is NNN REIT Inc's market cap?
NNN REIT Inc's market capitalization is USD 8.85B.
What is NNN REIT Inc's P/E ratio?
NNN REIT Inc's price-to-earnings (P/E) ratio is 22.7.
Does NNN REIT Inc pay a dividend?
NNN REIT Inc has a dividend yield of 5.3%.
What does NNN REIT Inc do?
NNN REIT, Inc. is a REIT that invests in high-quality properties subjected generally to long-term, net leases with minimal ongoing capital expenditures. As of June 30, 2026, the Company owned 3,774 properties across 50 states, the District of Columbia and Puerto Rico, encompassing approximately 40.4 million square feet of gross leasable area, with a weighted average remaining lease term of 10.1 years. NNN REIT, Inc. was incorporated in August 1984 in Maryland and is based in Orlando, Florida.