NNN REITMEX:NNN 83 Gross Margin % is 95.92% as of Mar. 2026, which is 0% below its 10-year median of 96.07. GuruFocus rates MEX:NNN with a GF Score™ of 83/100 and a GF Value™ of MXN794.96. The stock has 9 warning signs investors should review. Among 681 REITs companies, NNN REIT ranks better than 90.9% on this metric.
Gross Margin % is calculated as gross profit divided by its revenue. NNN REIT's Gross Profit for the
three
months ended in Mar. 2026 was MXN4,159 Mil. NNN REIT's Revenue for the
three
months ended in Mar. 2026 was MXN4,335 Mil. Therefore, NNN REIT's Gross Margin % for the quarter that ended in Mar. 2026 was 95.92%.
The historical rank and industry rank for NNN REIT's Gross Margin % or its related term are showing as below:
MEX:NNN'
s Gross Margin % Range Over the Past 10 Years
Min: 95.71 Med: 96.07 Max: 96.6
Current: 95.96
During the past 13 years, the highestGross Margin % of NNN REIT was 96.60%. The lowest was 95.71%. And the median was 96.07%.
MEX:NNN's Gross Margin % is ranked better than 90.9% of 681
companies
in the REITs industry
Industry Median: 69.62
vs MEX:NNN: 95.96
NNN REIT had a gross margin of 95.92% for the quarter that ended in Mar. 2026 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for NNN REIT was 0.10% per year.
NNN REIT (MEX:NNN) Gross Margin % Explanation
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
NNN REIT had a gross margin of 95.92% for the quarter that ended in Mar. 2026 => Durable competitive advantage
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
NNN REIT Gross Margin % Related Terms
NNN REIT Gross Margin % Historical Data
* Premium members only.
The historical data trend for NNN REIT's Gross Margin % 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.
MEX:NNN vs ADC, BRX, MAC: Gross Margin % Comparison
For the REIT - Retail subindustry, NNN REIT's Gross Margin %, along with its competitors' market caps and Gross Margin % 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.
NNN REIT Gross Margin % vs REITs Industry
For the REITs industry and Real Estate sector, NNN REIT's Gross Margin % distribution charts can be found below:
* The bar in red indicates where NNN REIT's Gross Margin % falls into.
* 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.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
NNN REIT (MEX:NNN) has a Gross Margin % of 95.92% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on NNN REIT and its competitors. This is near median its historical median of 96.07. Over the past decade, NNN REIT's Gross Margin % has ranged from 95.71 to 96.60. According to the industry distribution chart, NNN REIT ranks #62 out of 681 companies in the REITs industry, placing it in the top 9.1%.
Is NNN REIT's Gross Margin % too high?
NNN REIT's current Gross Margin % of 95.92% is near median its 10-year median of 96.07. Over the past 10 years, this metric has ranged from a low of 95.71 to a high of 96.60. The REITs industry median Gross Margin % is 69.62. NNN REIT's value of 95.92% is 37.8% above this industry median. Based on the distribution chart, NNN REIT ranks #62 out of 681 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, NNN REIT has a GF Score™ of 83/100, reflecting its overall financial health beyond just this single metric.
How does NNN REIT's Gross Margin % compare to ADC and BRX?
According to the REITs industry distribution chart, NNN REIT ranks #62 out of 681 companies for Gross Margin %. This places NNN REIT in the top 9% of its industry — outperforming the majority of peers. The industry median Gross Margin % is 69.62. NNN REIT's value of 95.92% is 37.8% above this benchmark. Historically, NNN REIT's own Gross Margin % has ranged from 95.71 to 96.60 over the past decade. While the company's 10-year median is 96.07 vs. the industry median of 69.62, NNN REIT has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Margin % for a REITs company?
The median Gross Margin % among REITs companies is 69.62, based on 681 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. NNN REIT's current Gross Margin % of 95.92% is 37.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on NNN REIT and its competitors. For the REITs industry, the median Gross Margin % is 69.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NNN REIT's current Gross Margin % is 95.92%, which is near median its own 10-year median of 96.07. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NNN REIT stock overvalued right now?
NNN REIT (MEX:NNN) has a current Gross Margin % of 95.92%. The stock's GF Value™ is MXN794.96, compared to a current price of MXN839.10 — trading 5.6% above its estimated fair value. The current Gross Margin % is 95.92%, which is near median its 10-year median of 96.07 and 37.8% above the REITs industry median of 69.62. NNN REIT's overall GF Score™ is 83/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For NNN REIT (MEX:NNN), the current Gross Margin % is 95.92% 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 NNN REIT (MEX:NNN) Overvalued in 2026?
Based on GuruFocus' analysis, NNN REIT stock appears to be overvalued.
The current stock price of MXN839.10 is trading 5.6% above its estimated GF Value™ of MXN794.96.
Key valuation signals for MEX:NNN:
Gross Margin %: 95.92% (near median its 10-year median of 96.07)
GF Value™: MXN794.96 vs. price of MXN839.10 (5.6% above fair value)
Industry Position: 37.8% above the REITs median (#62 of 681)
No single metric tells the full story. See the MEX:NNN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NNN REIT Inc is a real estate investment trust that acquires, owns, invests in, and develops high-quality properties mainly leased under long-term net leases with minimal capital expenditure requirements. The company focuses mainly on retail properties, with a portfolio including convenience stores, automotive service properties, restaurants, theatres, entertainment venues, dealerships, and other retail-related assets. Primary business objectives emphasize retail properties, and it may invest in a wide variety of property and tenant types, leases, mortgages, loans secured by personal property, loans secured by partnership or membership interests, and securities of other REITs or other issuers.
83GF Score
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