NNN REIT, Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $926.2M | $869.3M | $828.1M | $773.1M | $726.4M | $660.7M | $670.5M | $622.7M |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $46.9M | $44.3M | $43.7M | $41.7M | $44.6M | $38.2M | $37.7M | $34.2M |
| Operating Income | $589.5M | $577.9M | $555.1M | $482.5M | $449.1M | $374.5M | $416.5M | $424.8M |
| Operating Margin | 63.6% | 66.5% | 67.0% | 62.4% | 61.8% | 56.7% | 62.1% | 68.2% |
| Interest Expense | $204.0M | $184.0M | $163.9M | $148.1M | $137.9M | $129.4M | $120.0M | $115.8M |
| Pretax Income | — | — | — | — | — | — | — | — |
| Income Tax Expense | — | — | — | — | — | $0 | $0 | $0 |
| Net Income | $389.8M | $396.8M | $392.3M | $334.6M | $290.1M | $228.8M | $299.2M | $292.4M |
| Net Margin | 42.1% | 45.7% | 47.4% | 43.3% | 39.9% | 34.6% | 44.6% | 47.0% |
| EPS (Basic) | $2.07 | $2.16 | $2.16 | $1.89 | $1.51 | $1.22 | $1.56 | $1.65 |
| EPS (Diluted) | $2.07 | $2.15 | $2.16 | $1.89 | $1.51 | $1.22 | $1.56 | $1.65 |
| Shares Outstanding (Basic) | 187.6M | 183.7M | 181.2M | 176.4M | 174.7M | 172.1M | 164.7M | 155.7M |
| Shares Outstanding (Diluted) | 188.0M | 184.0M | 181.7M | 177.1M | 174.8M | 172.2M | 165.1M | 156.3M |
| Dividends Per Share | $2.36 | $2.29 | $2.23 | $2.16 | $2.10 | $2.07 | $2.03 | $1.95 |