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Annual data and sources

Show annual tables and sources

NNN REIT, INC. (NNN) · NYSE · USD · Sector unavailable · SEC ID 0000751364

Annual coverage: 2008-12-31–2025-12-31 (18 periods). Data snapshot built 2026-10-09.

Tables include every stored fiscal period, even outside the selected chart range. Missing or unsupported values are marked “Unavailable,” not zero.

Earnings and per-share history

Annual EPS, cash flow and dividends

Per-share values are in USD; dividend yield is a percent.

Dividend-yield method and limitations

Annual EPS, cash flow, dividends and fiscal-year dividend yield for NNN REIT, INC.. Per-share values in USD; yield in percent.
Fiscal year / endBasic EPSDiluted EPSFCF / shareDividends / shareFiscal-year dividend yieldFiling sources
2025
2025-12-31
2.072.07Unavailable2.365.97%Basic EPS (2026-02-11)
Diluted EPS (2026-02-11)
Dividend (2026-02-11)
2024
2024-12-31
2.162.15Unavailable2.295.65%Basic EPS (2026-02-11)
Diluted EPS (2026-02-11)
Dividend (2026-02-11)
2023
2023-12-31
2.162.16Unavailable2.235.17%Basic EPS (2026-02-11)
Diluted EPS (2026-02-11)
Dividend (2026-02-11)
2022
2022-12-31
1.891.89Unavailable2.164.72%Basic EPS (2025-02-11)
Diluted EPS (2025-02-11)
Dividend (2025-02-11)
2021
2021-12-31
1.511.51Unavailable2.104.59%Basic EPS (2024-02-08)
Diluted EPS (2024-02-08)
Dividend (2024-02-08)
2020
2020-12-31
1.221.22Unavailable2.075.57%Basic EPS (2023-02-09)
Diluted EPS (2023-02-09)
Dividend (2023-02-09)
2019
2019-12-31
1.561.56Unavailable2.034.46%Basic EPS (2022-02-09)
Diluted EPS (2022-02-09)
Dividend (2022-02-09)
2018
2018-12-31
1.651.65Unavailable1.954.87%Basic EPS (2021-02-11)
Diluted EPS (2021-02-11)
Dividend (2021-02-11)
2017
2017-12-31
1.451.45Unavailable1.865.46%Basic EPS (2020-02-11)
Diluted EPS (2020-02-11)
Dividend (2020-02-11)
2016
2016-12-31
1.391.38Unavailable1.785.33%Basic EPS (2019-02-12)
Diluted EPS (2019-02-12)
Dividend (2019-02-12)
2015
2015-12-31
1.211.20Unavailable1.715.87%Basic EPS (2018-02-13)
Diluted EPS (2018-02-13)
Dividend (2018-02-13)
2014
2014-12-31
1.241.24Unavailable1.655.93%Basic EPS (2017-02-13)
Diluted EPS (2017-02-13)
Dividend (2017-02-13)
2013
2013-12-31
1.111.10Unavailable1.607.92%Basic EPS (2016-02-12)
Diluted EPS (2016-02-12)
Dividend (2016-02-12)
2012
2012-12-31
1.131.11Unavailable1.567.87%Basic EPS (2015-02-20)
Diluted EPS (2015-02-20)
Dividend (2015-02-20)
2011
2011-12-31
0.960.96Unavailable1.539.65%Basic EPS (2014-02-19)
Diluted EPS (2014-02-19)
Dividend (2014-02-19)
2010
2010-12-31
0.800.80Unavailable1.519.90%Basic EPS (2013-02-22)
Diluted EPS (2013-02-22)
Dividend (2013-02-22)
2009
2009-12-31
0.600.60Unavailable1.5012.29%Basic EPS (2012-02-24)
Diluted EPS (2012-02-24)
Dividend (2012-02-24)
2008
2008-12-31
1.481.48Unavailable1.4815.48%Basic EPS (2011-02-24)
Diluted EPS (2011-02-24)
Dividend (2011-02-24)

Revenue and debt per share

Revenue/share is annual revenue divided by average diluted shares. Debt/share is year-end borrowings divided by common shares; leases are excluded. Per-share values are in USD. Metric definitions.

Fiscal endRevenue / shareTotal debt / shareCalculation inputs & SEC filings
2025-12-314.93Unavailable
Calculation inputs & SEC filings
  • Revenue: 926,213,000.00 USD
  • Average diluted shares: 187,986,798.00 shares
  • Borrowings: Unavailable — required inputs are missing, conflicting or unsupported
  • Year-end common shares: 189,937,404.00 shares
2024-12-314.72Unavailable
Calculation inputs & SEC filings
  • Revenue: 869,266,000.00 USD
  • Average diluted shares: 184,043,841.00 shares
  • Borrowings: Unavailable — required inputs are missing, conflicting or unsupported
  • Year-end common shares: 187,540,929.00 shares
2023-12-314.56Unavailable
Calculation inputs & SEC filings
  • Revenue: 828,111,000.00 USD
  • Average diluted shares: 181,689,723.00 shares
  • Borrowings: Unavailable — required inputs are missing, conflicting or unsupported
  • Year-end common shares: 182,474,770.00 shares
2022-12-314.37Unavailable
Calculation inputs & SEC filings
  • Revenue: 773,053,000.00 USD
  • Average diluted shares: 177,067,865.00 shares
  • Borrowings: Unavailable — required inputs are missing, conflicting or unsupported
  • Year-end common shares: 181,424,670.00 shares
2021-12-314.16Unavailable
Calculation inputs & SEC filings
  • Revenue: 726,407,000.00 USD
  • Average diluted shares: 174,818,899.00 shares
  • Borrowings: Unavailable — required inputs are missing, conflicting or unsupported
  • Year-end common shares: 175,635,792.00 shares
2020-12-313.84Unavailable
Calculation inputs & SEC filings
  • Revenue: 660,681,000.00 USD
  • Average diluted shares: 172,217,077.00 shares
  • Borrowings: Unavailable — required inputs are missing, conflicting or unsupported
  • Year-end common shares: 175,232,971.00 shares
2019-12-314.06Unavailable
Calculation inputs & SEC filings
  • Revenue: 670,487,000.00 USD
  • Average diluted shares: 165,083,679.00 shares
  • Borrowings: Unavailable — required inputs are missing, conflicting or unsupported
  • Year-end common shares: 171,694,209.00 shares
2018-12-313.98Unavailable
Calculation inputs & SEC filings
  • Revenue: 622,661,000.00 USD
  • Average diluted shares: 156,295,619.00 shares
  • Borrowings: Unavailable — required inputs are missing, conflicting or unsupported
  • Year-end common shares: 161,503,585.00 shares
2017-12-313.91Unavailable
Calculation inputs & SEC filings
  • Revenue: 584,933,000.00 USD
  • Average diluted shares: 149,432,641.00 shares
  • Borrowings: Unavailable — required inputs are missing, conflicting or unsupported
  • Year-end common shares: 153,577,028.00 shares
2016-12-313.69Unavailable
Calculation inputs & SEC filings
  • Revenue: 533,647,000.00 USD
  • Average diluted shares: 144,660,633.00 shares
  • Borrowings: Unavailable — required inputs are missing, conflicting or unsupported
  • Year-end common shares: 147,149,945.00 shares
2015-12-313.59Unavailable
Calculation inputs & SEC filings
  • Revenue: 482,916,000.00 USD
  • Average diluted shares: 134,489,416.00 shares
  • Borrowings: Unavailable — required inputs are missing, conflicting or unsupported
  • Year-end common shares: 141,007,725.00 shares
2014-12-313.49Unavailable
Calculation inputs & SEC filings
  • Revenue: 434,877,000.00 USD
  • Average diluted shares: 124,710,226.00 shares
  • Borrowings: Unavailable — required inputs are missing, conflicting or unsupported
  • Year-end common shares: 132,010,104.00 shares
2013-12-313.28Unavailable
Calculation inputs & SEC filings
  • Revenue: 393,525,000.00 USD
  • Average diluted shares: 119,864,824.00 shares
  • Borrowings: Unavailable — required inputs are missing, conflicting or unsupported
  • Year-end common shares: 121,991,677.00 shares
2012-12-313.05Unavailable
Calculation inputs & SEC filings
  • Revenue: 332,646,000.00 USD
  • Average diluted shares: 109,117,515.00 shares
  • Borrowings: Unavailable — required inputs are missing, conflicting or unsupported
  • Year-end common shares: 111,554,997.00 shares
2011-12-312.91Unavailable
Calculation inputs & SEC filings
  • Revenue: 258,690,000.00 USD
  • Average diluted shares: 88,837,057.00 shares
  • Borrowings: Unavailable — required inputs are missing, conflicting or unsupported
  • Year-end common shares: 104,754,859.00 shares
2010-12-312.68Unavailable
Calculation inputs & SEC filings
  • Revenue: 222,084,000.00 USD
  • Average diluted shares: 82,849,362.00 shares
  • Borrowings: Unavailable — required inputs are missing, conflicting or unsupported
  • Year-end common shares: 83,613,289.00 shares
2009-12-312.86Unavailable
Calculation inputs & SEC filings
  • Revenue: 228,827,000.00 USD
  • Average diluted shares: 79,953,499.00 shares
  • Borrowings: Unavailable — required inputs are missing, conflicting or unsupported
  • Year-end common shares: 82,427,560.00 shares
2008-12-313.05Unavailable
Calculation inputs & SEC filings
  • Revenue: 226,964,000.00 USD
  • Average diluted shares: 74,344,231.00 shares
  • Borrowings: Unavailable — required inputs are missing, conflicting or unsupported
  • Year-end common shares: Unavailable — required inputs are missing, conflicting or unsupported

Operating performance and returns

Revenue and profit margins

Operating margin is operating income divided by revenue; net margin is net income divided by revenue. Negative margins indicate a loss. Metric definitions.

Fiscal endRevenue (USD)Operating margin (%)Net margin (%)Calculation inputs & SEC filings
2025-12-31926,213,000.0063.6442.08
Calculation inputs & SEC filings
  • Revenue: 926,213,000.00 USD
  • Operating income: 589,486,000.00 USD
  • Net income: 389,777,000.00 USD
2024-12-31869,266,000.0066.4845.65
Calculation inputs & SEC filings
  • Revenue: 869,266,000.00 USD
  • Operating income: 577,872,000.00 USD
  • Net income: 396,835,000.00 USD
2023-12-31828,111,000.0067.0347.38
Calculation inputs & SEC filings
  • Revenue: 828,111,000.00 USD
  • Operating income: 555,104,000.00 USD
  • Net income: 392,340,000.00 USD
2022-12-31773,053,000.0062.4243.29
Calculation inputs & SEC filings
  • Revenue: 773,053,000.00 USD
  • Operating income: 482,537,000.00 USD
  • Net income: 334,621,000.00 USD
2021-12-31726,407,000.0061.8239.94
Calculation inputs & SEC filings
  • Revenue: 726,407,000.00 USD
  • Operating income: 449,096,000.00 USD
  • Net income: 290,110,000.00 USD
2020-12-31660,681,000.0056.6834.63
Calculation inputs & SEC filings
  • Revenue: 660,681,000.00 USD
  • Operating income: 374,489,000.00 USD
  • Net income: 228,796,000.00 USD
2019-12-31670,487,000.0062.1244.69
Calculation inputs & SEC filings
  • Revenue: 670,487,000.00 USD
  • Operating income: 416,519,000.00 USD
  • Net income: 299,608,000.00 USD
2018-12-31622,661,000.0068.2246.97
Calculation inputs & SEC filings
  • Revenue: 622,661,000.00 USD
  • Operating income: 424,762,000.00 USD
  • Net income: 292,485,000.00 USD
2017-12-31584,933,000.0063.9745.37
Calculation inputs & SEC filings
  • Revenue: 584,933,000.00 USD
  • Operating income: 374,158,000.00 USD
  • Net income: 265,371,000.00 USD
2016-12-31533,647,000.0063.0144.88
Calculation inputs & SEC filings
  • Revenue: 533,647,000.00 USD
  • Operating income: 336,251,000.00 USD
  • Net income: 239,506,000.00 USD
2015-12-31482,916,000.0059.7740.99
Calculation inputs & SEC filings
  • Revenue: 482,916,000.00 USD
  • Operating income: 288,655,000.00 USD
  • Net income: 197,961,000.00 USD
2014-12-31434,877,000.0061.2243.96
Calculation inputs & SEC filings
  • Revenue: 434,877,000.00 USD
  • Operating income: 266,246,000.00 USD
  • Net income: 191,170,000.00 USD
2013-12-31393,525,000.0060.9640.68
Calculation inputs & SEC filings
  • Revenue: 393,525,000.00 USD
  • Operating income: 239,894,000.00 USD
  • Net income: 160,085,000.00 USD
2012-12-31332,646,000.0061.1342.67
Calculation inputs & SEC filings
  • Revenue: 332,646,000.00 USD
  • Operating income: 203,342,000.00 USD
  • Net income: 141,937,000.00 USD
2011-12-31258,690,000.0061.3935.72
Calculation inputs & SEC filings
  • Revenue: 258,690,000.00 USD
  • Operating income: 158,807,000.00 USD
  • Net income: 92,416,000.00 USD
2010-12-31222,084,000.0058.1433.03
Calculation inputs & SEC filings
  • Revenue: 222,084,000.00 USD
  • Operating income: 129,114,000.00 USD
  • Net income: 73,353,000.00 USD
2009-12-31228,827,000.0048.2524.65
Calculation inputs & SEC filings
  • Revenue: 228,827,000.00 USD
  • Operating income: 110,408,000.00 USD
  • Net income: 56,399,000.00 USD
2008-12-31226,964,000.0064.4652.86
Calculation inputs & SEC filings
  • Revenue: 226,964,000.00 USD
  • Operating income: 146,298,000.00 USD
  • Net income: 119,971,000.00 USD

Cash generation and capital returns

FCF margin is free cash flow as a share of revenue. FCF / net income compares free cash flow with positive net income. ROCE divides operating income by average capital employed and requires positive opening and closing balances. Metric definitions.

Fiscal endFCF margin (%)FCF / net income (%)ROCE (%)Calculation inputs & SEC filings
2025-12-31UnavailableUnavailableUnavailable
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Unavailable — required inputs are missing, conflicting or unsupported.
  • FCF / net income: Unavailable — required inputs are missing, conflicting or unsupported.
  • ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent.
2024-12-31UnavailableUnavailableUnavailable
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Unavailable — required inputs are missing, conflicting or unsupported.
  • FCF / net income: Unavailable — required inputs are missing, conflicting or unsupported.
  • ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent.
2023-12-31UnavailableUnavailableUnavailable
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Unavailable — required inputs are missing, conflicting or unsupported.
  • FCF / net income: Unavailable — required inputs are missing, conflicting or unsupported.
  • ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent.
2022-12-31UnavailableUnavailableUnavailable
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Unavailable — required inputs are missing, conflicting or unsupported.
  • FCF / net income: Unavailable — required inputs are missing, conflicting or unsupported.
  • ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent.
2021-12-31UnavailableUnavailableUnavailable
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Unavailable — required inputs are missing, conflicting or unsupported.
  • FCF / net income: Unavailable — required inputs are missing, conflicting or unsupported.
  • ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent.
2020-12-31UnavailableUnavailableUnavailable
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Unavailable — required inputs are missing, conflicting or unsupported.
  • FCF / net income: Unavailable — required inputs are missing, conflicting or unsupported.
  • ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent.
2019-12-31UnavailableUnavailableUnavailable
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Unavailable — required inputs are missing, conflicting or unsupported.
  • FCF / net income: Unavailable — required inputs are missing, conflicting or unsupported.
  • ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent.
2018-12-31UnavailableUnavailableUnavailable
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Unavailable — required inputs are missing, conflicting or unsupported.
  • FCF / net income: Unavailable — required inputs are missing, conflicting or unsupported.
  • ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent.
2017-12-31UnavailableUnavailableUnavailable
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Unavailable — required inputs are missing, conflicting or unsupported.
  • FCF / net income: Unavailable — required inputs are missing, conflicting or unsupported.
  • ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent.
2016-12-31UnavailableUnavailableUnavailable
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Unavailable — required inputs are missing, conflicting or unsupported.
  • FCF / net income: Unavailable — required inputs are missing, conflicting or unsupported.
  • ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent.
2015-12-31UnavailableUnavailableUnavailable
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Unavailable — required inputs are missing, conflicting or unsupported.
  • FCF / net income: Unavailable — required inputs are missing, conflicting or unsupported.
  • ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent.
2014-12-31UnavailableUnavailableUnavailable
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Unavailable — required inputs are missing, conflicting or unsupported.
  • FCF / net income: Unavailable — required inputs are missing, conflicting or unsupported.
  • ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent.
2013-12-31UnavailableUnavailableUnavailable
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Unavailable — required inputs are missing, conflicting or unsupported.
  • FCF / net income: Unavailable — required inputs are missing, conflicting or unsupported.
  • ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent.
2012-12-31UnavailableUnavailableUnavailable
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Unavailable — required inputs are missing, conflicting or unsupported.
  • FCF / net income: Unavailable — required inputs are missing, conflicting or unsupported.
  • ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent.
2011-12-31UnavailableUnavailableUnavailable
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Unavailable — required inputs are missing, conflicting or unsupported.
  • FCF / net income: Unavailable — required inputs are missing, conflicting or unsupported.
  • ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent.
2010-12-31UnavailableUnavailableUnavailable
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Unavailable — required inputs are missing, conflicting or unsupported.
  • FCF / net income: Unavailable — required inputs are missing, conflicting or unsupported.
  • ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent.
2009-12-31UnavailableUnavailableUnavailable
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Unavailable — required inputs are missing, conflicting or unsupported.
  • FCF / net income: Unavailable — required inputs are missing, conflicting or unsupported.
  • ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent.
2008-12-31UnavailableUnavailableUnavailable
Calculation inputs & SEC filings
  • FCF margin (FCF ÷ revenue): Unavailable — required inputs are missing, conflicting or unsupported.
  • FCF / net income: Unavailable — required inputs are missing, conflicting or unsupported.
  • ROCE (operating income ÷ average capital employed): Unavailable — required balance-sheet inputs are missing or inconsistent.

Valuation history

P/E ratio history

The P/E chart uses 1129 weekly price points (2005-02-25–2026-10-08); 928 have a basic or diluted P/E ratio. Annual EPS carries forward between fiscal year-ends.

Fiscal-year-end snapshots

18 fiscal-year-end periods with an eligible ratio (2008-12-31–2025-12-31). Most recent: diluted 19.09× and basic 19.09× (fiscal end 2025-12-31; price date 2025-12-26).

Annual P/E = fiscal-year-end closing price ÷ reported annual EPS. It is a historical annual ratio, not TTM or forward P/E. Zero or negative EPS and missing eligible prices produce no ratio. Why we use annual data.

Open the interactive P/E chart · How P/E history is calculated.

Show all annual P/E values (18 fiscal years)
Full stored fiscal-year-end P/E history, independent of the selected chart window. Ratios in ×; prices in USD.
Fiscal endPrice dateClosePrice basisBasic P/EDiluted P/EEPS filings
2025-12-312025-12-2639.51Adjusted close19.0919.09Basic EPS (2026-02-11) Diluted EPS (2026-02-11)
2024-12-312024-12-2740.51Adjusted close18.7518.84Basic EPS (2026-02-11) Diluted EPS (2026-02-11)
2023-12-312023-12-2943.10Adjusted close19.9519.95Basic EPS (2026-02-11) Diluted EPS (2026-02-11)
2022-12-312022-12-3045.76Adjusted close24.2124.21Basic EPS (2025-02-11) Diluted EPS (2025-02-11)
2021-12-312021-12-3145.76Adjusted close30.3130.31Basic EPS (2024-02-08) Diluted EPS (2024-02-08)
2020-12-312020-12-3137.18Adjusted close30.4830.48Basic EPS (2023-02-09) Diluted EPS (2023-02-09)
2019-12-312019-12-2745.50Adjusted close29.1729.17Basic EPS (2022-02-09) Diluted EPS (2022-02-09)
2018-12-312018-12-2840.06Adjusted close24.2824.28Basic EPS (2021-02-11) Diluted EPS (2021-02-11)
2017-12-312017-12-2934.06Adjusted close23.4923.49Basic EPS (2020-02-11) Diluted EPS (2020-02-11)
2016-12-312016-12-3033.40Adjusted close24.0324.20Basic EPS (2019-02-12) Diluted EPS (2019-02-12)
2015-12-312015-12-3129.11Adjusted close24.0624.26Basic EPS (2018-02-13) Diluted EPS (2018-02-13)
2014-12-312014-12-2627.82Adjusted close22.4422.44Basic EPS (2017-02-13) Diluted EPS (2017-02-13)
2013-12-312013-12-2720.21Adjusted close18.2118.37Basic EPS (2016-02-12) Diluted EPS (2016-02-12)
2012-12-312012-12-2819.82Adjusted close17.5417.86Basic EPS (2015-02-20) Diluted EPS (2015-02-20)
2011-12-312011-12-3015.86Adjusted close16.5216.52Basic EPS (2014-02-19) Diluted EPS (2014-02-19)
2010-12-312010-12-3115.25Adjusted close19.0619.06Basic EPS (2013-02-22) Diluted EPS (2013-02-22)
2009-12-312009-12-3112.21Adjusted close20.3520.35Basic EPS (2012-02-24) Diluted EPS (2012-02-24)
2008-12-312008-12-269.56Adjusted close6.466.46Basic EPS (2011-02-24) Diluted EPS (2011-02-24)

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