BNL (Broadstone Net Lease) EBIT: $229.1 Mil (TTM As of Mar. 2026)


BNL Broadstone Net Lease Inc BNL
78 GF Score
Price $21.21
GF Value $17.62
Valuation Modestly Overvalued
! 9 Warning Signs
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What is Broadstone Net Lease EBIT?

Broadstone Net Lease BNL +0.90% 78 EBIT is $229.1 Mil as of Mar. 2026. GuruFocus rates BNL with a GF Score™ of 78/100 and a GF Value™ of $17.62 (Modestly Overvalued). The stock has 9 warning signs investors should review.

Broadstone Net Lease's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was $72.0 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was $229.1 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Broadstone Net Lease's annualized ROC % for the quarter that ended in Mar. 2026 was 4.34%. Broadstone Net Lease's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was %.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Broadstone Net Lease's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 3.36%.


Broadstone Net Lease  (NYSE:BNL) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Broadstone Net Lease's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=253.384 * ( 1 - 0.67% )/( (5553.631 + 6034.056)/ 2 )
=251.6863272/5793.8435
=4.34 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=5717.267 - 133.096 - ( 30.54 - max(0, 133.096 - 213.824+30.54))
=5553.631

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=5845.027 - 143.381 - ( 20.31 - max(0, 541.021 - 208.611+20.31))
=6034.056

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Broadstone Net Lease's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=287.852/( ( (0 + max(-128.692, 0)) + (0 + max(-139.748, 0)) )/ 2 )
=287.852/( ( 0 + 0 )/ 2 )
=287.852/0
= %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(4.404 + 0 + 2.8421709430404E-14) - (133.096 + 0 + 0)
=-128.692

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(3.633 + 0 + 0) - (143.381 + 0 + 0)
=-139.748

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Broadstone Net Lease's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=229.076/6815.751
=3.36 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Broadstone Net Lease EBIT Related Terms


Broadstone Net Lease EBIT Historical Data

* Premium members only.

The historical data trend for Broadstone Net Lease's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Broadstone Net Lease EBIT Chart

Broadstone Net Lease Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 175.32 209.40 244.13 244.24 195.04

Broadstone Net Lease Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 37.92 41.14 55.50 60.47 71.96

BNL vs GNL, AAT, SAFE: EBIT Comparison

For the REIT - Diversified subindustry, Broadstone Net Lease's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Broadstone Net Lease EV-to-EBIT vs REITs Industry

For the REITs industry and Real Estate sector, Broadstone Net Lease's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Broadstone Net Lease's EV-to-EBIT falls into.


BNL
78GF Score
Broadstone Net Lease Inc BNL
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Broadstone Net Lease EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $229.1 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of $229.1 Mil mean?
Broadstone Net Lease (BNL) has a EBIT of $229.1 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Broadstone Net Lease.
Is Broadstone Net Lease's EBIT too high?
Broadstone Net Lease's current EBIT is $229.1 Mil. Overall, Broadstone Net Lease has a GF Score™ of 78/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Broadstone Net Lease's EBIT compare to GNL and AAT?
Broadstone Net Lease's EBIT of $229.1 Mil can be compared against companies in the REITs industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a REITs company?
A good EBIT depends on the REITs industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Broadstone Net Lease. Broadstone Net Lease's current EBIT is $229.1 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Broadstone Net Lease stock overvalued right now?
Based on GuruFocus' analysis, Broadstone Net Lease (BNL) is currently considered Modestly Overvalued. The stock's GF Value™ is $17.62, compared to a current price of $21.21 — trading 20.4% above its estimated fair value. The current EBIT is $229.1 Mil. Broadstone Net Lease's overall GF Score™ is 78/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Broadstone Net Lease (BNL), the current EBIT is $229.1 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Broadstone Net Lease (BNL) Overvalued in 2026?

Based on GuruFocus' analysis, Broadstone Net Lease stock appears to be overvalued. The current stock price of $21.21 is trading 20.4% above its estimated GF Value™ of $17.62. GuruFocus considers Broadstone Net Lease to be Modestly Overvalued.

Key valuation signals for BNL:

  • EBIT: $229.1 Mil
  • GF Value™: $17.62 vs. price of $21.21 (20.4% above fair value)
  • GF Score™: 78/100 with 9 warning signs

No single metric tells the full story. See the BNL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Broadstone Net Lease Business Description

Industry Real EstateREITs
Other Exchanges 62XA:Germany
Address 207 High Point Drive, Suite 300, Victor, NY, USA, 14564
Broadstone Net Lease Inc is an internally managed real estate investment trust that invests in, owns, and manages single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. The company has selectively invested in net leased assets in the industrial, healthcare, restaurant, retail, and office property types. The company focuses on investing in real estate that is operated by creditworthy single tenants in industries characterized by positive business drivers and trends. The company targets properties that are an integral part of the tenants' businesses and are therefore opportunities to secure long-term net leases.
78GF Score

Get the complete analysis for BNL

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$21.21
Price
$17.62
GF Value