Broadstone Net Lease Inc (BNL) Fair Value & Analysis
Real Estate · US · Market cap $4.1B · ISIN US11135E2037
What is Broadstone Net Lease Inc really worth?
Broadstone Net Lease Inc
BNL · US
A solid business, but trading 91% above our fair value of $10.91.
Strengths
Risks
For context
Fair value as of: Aug 27, 2026
From 16 valuation models · updated 9 days ago
Share price −1.4% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case ($11.40). The favourable scenario is already priced in.
- Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.
How to read this chart
60‑month range $11.60 – $22.84 · fair‑value band $6.84 – $11.40 · the $20.87 price screens above the $10.91 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 27, 2026.
Analysis
Broadstone Net Lease Inc (BNL) currently trades at $20.87, while our model-based Fair Value estimate is $10.91, implying the stock looks roughly 91.3% overvalued today. The Quality Score stands at 60/100 (solid quality), in the Real Estate sector. Bull case: the Dividend Discount group reads highest at a median of $17.25 per share, and 3 of the 16 models we run sit above the $20.87 price. Bear case: the Growth DCF group reads lowest at $7.55, and 13 of the 16 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Broadstone Net Lease Inc generated revenue of $467M at a net margin of 27.0%. Revenue grew 11.7% year over year. It earns a return on equity of 4.2%. Net debt stands at $2.6B. Fundamentals as of Aug 27, 2026
Our scenario range runs from $6.84 (bear case) to $11.40 (bull case); at $20.87, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 3% below its 52-week high and 40% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −35% fair-value upside, at −48%, BNL screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 16 models by family
Widest divergence: Dividend Discount ($17.25) versus Growth DCF ($7.55). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 57 · Market factors (momentum, volatility) 65
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Broadstone Net Lease, Inc. is an industrial-focused, diversified net lease REIT that invests in primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants.
Full company description
Broadstone Net Lease, Inc. is an industrial-focused, diversified net lease REIT that invests in primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. Utilizing an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting, as of March 31, 2026, BNL's diversified portfolio consisted of 773 individual net leased commercial properties with 766 properties located in 44 U.S. states and seven properties located in four Canadian provinces across the industrial, retail, and other property types. Broadstone Net Lease, Inc. was established on October 18, 2017 and is based in Victor, United States. Broadstone Net Lease, Inc. was incorporated in Maryland.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Broadstone Net Lease Inc reported revenue of $459M in FY2025 versus $383M in FY2021, a compound +4.6%/yr. Reported net income was $103M in FY2025, compounding +0.1%/yr from FY2021.
of which total revenue +17.8 % · buybacks/dilution −10.4 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
BNL screens 91% overvalued. Compare with Goodman Group →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Broadstone Net Lease Adds $23 Million to its Committed Pipeline of Build-to-Suit Developments
- Broadstone Net Lease (BNL) Raises Fresh Equity, Is The 9% Undervaluation Still Intact?
- Broadstone Net Lease (BNL) Q2 2026 Earnings Call
- Broadstone Net Lease, Inc. Announces Pricing of Public Offering of Common Stock
Peer Group
REIT - Diversified · 152 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs REIT - Diversified median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more REIT - Diversified stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Goodman Group GMG | A$27.55 | A$7.37 | −73% |
| VICI Properties Inc VICI | $25.87 | $40.82 | +58% |
| W. P. Carey Inc WPC | $70.51 | $34.80 | −51% |
| Charter Hall Group CHC | A$21.90 | A$10.99 | −50% |
| Stockland SGP | A$4.59 | A$3.70 | −19% |
| The GPT Group GPT | A$4.61 | A$3.49 | −24% |
| Mirvac Group MGR | A$1.85 | A$0.5700 | −69% |
| KLCC Property Holdings 5235SS | 8.60 MYR | 6.66 MYR | −23% |
| T82U T82U | 1.56 SGD | 1.02 SGD | −35% |
| CRRUN CRRUN | C$16.67 | C$7.03 | −58% |
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