NNN REIT, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $389.8M | $396.8M | $392.3M | $334.6M | $290.1M | $228.8M | $299.2M | $292.4M |
| Depreciation & Amortization | $268.4M | $249.7M | $238.6M | $223.8M | $205.2M | $196.6M | $188.9M | $174.4M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | $9.2M |
| Stock-Based Compensation | — | — | — | — | — | — | — | — |
| Net Cash from Operating Activities | $667.1M | $635.5M | $612.4M | $578.4M | $568.4M | $450.2M | $501.7M | $471.9M |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | — | — | — | — | — | — |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-748.1M | $-424.3M | $-680.7M | $-777.6M | $-432.2M | $-142.8M | $-619.4M | $-609.4M |
| Financing Activities | ||||||||
| Dividends Paid | $443.2M | $420.2M | $404.5M | $380.5M | $367.3M | $356.4M | $333.7M | $303.2M |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $77.7M | $-207.3M | $66.6M | $34.7M | $-232.2M | $-41.3M | $4.5M | $250.4M |
| Net Change in Cash | $-3.2M | $3.9M | $-1.6M | $-164.5M | $-95.9M | $266.1M | $-113.2M | $112.9M |
| Free Cash Flow | — | — | — | — | — | — | — | — |