Broadstone Net LeaseBNL -0.75%78 PB Ratio is 1.40 as of Jul. 06, 2026, which is 24% above its 10-year median of 1.13. GuruFocus rates BNL with a GF Score™ of 78/100 and a GF Value™ of $17.67 (Modestly Overvalued). The stock has 9 warning signs investors should review. Among 931 REITs companies, Broadstone Net Lease ranks worse than 83.24% on this metric.
Broadstone Net Lease Inc stock PB Ratio (=1.41) is close to 3-year high of 1.41.
The historical rank and industry rank for Broadstone Net Lease's PB Ratio or its related term are showing as below:
BNL'
s PB Ratio Range Over the Past 10 Years
Min: 0.83 Med: 1.13 Max: 1.73
Current: 1.4
During the past 11 years, Broadstone Net Lease's highest PB Ratio was 1.73. The lowest was 0.83. And the median was 1.13.
BNL's PB Ratio is ranked worse than 83.24% of 931
companies
in the REITs industry
Industry Median: 0.87
vs BNL: 1.40
During the past 12 months, Broadstone Net Lease's average Book Value Per Share Growth Rate was -3.30% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -3.00% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -0.60% per year.
During the past 11 years, the highest 3-Year average Book Value Per Share Growth Rate of Broadstone Net Lease was 23.70% per year. The lowest was -3.00% per year. And the median was 12.40% per year.
Back to Basics: PB Ratio
Broadstone Net Lease (NYSE:BNL) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Broadstone Net Lease PB Ratio Related Terms
Broadstone Net Lease PB Ratio Historical Data
* Premium members only.
The historical data trend for Broadstone Net Lease's PB Ratio 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.
For the REIT - Diversified subindustry, Broadstone Net Lease's PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs REITs Industry
For the REITs industry and Real Estate sector, Broadstone Net Lease's PB Ratio distribution charts can be found below:
* The bar in red indicates where Broadstone Net Lease's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Broadstone Net Lease (BNL) has a PB Ratio of 1.40 as of Jul. 06, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Broadstone Net Lease and its competitors. This is 24% above median its historical median of 1.13. Over the past decade, Broadstone Net Lease's PB Ratio has ranged from 0.83 to 1.73. According to the industry distribution chart, Broadstone Net Lease ranks #775 out of 931 companies in the REITs industry, placing it in the top 83.2%.
Is Broadstone Net Lease's PB Ratio too high?
Broadstone Net Lease's current PB Ratio of 1.40 is 24% above median its 10-year median of 1.13. Over the past 10 years, this metric has ranged from a low of 0.83 to a high of 1.73. The REITs industry median PB Ratio is 0.87. Broadstone Net Lease's value of 1.40 is 60.9% above this industry median. Based on the distribution chart, Broadstone Net Lease ranks #775 out of 931 companies in the REITs industry, which is in the bottom quartile relative to peers. 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 PB Ratio compare to GNL and AAT?
According to the REITs industry distribution chart, Broadstone Net Lease ranks #775 out of 931 companies for PB Ratio. This places Broadstone Net Lease in the lower half of its industry. The industry median PB Ratio is 0.87. Broadstone Net Lease's value of 1.40 is 60.9% above this benchmark. Historically, Broadstone Net Lease's own PB Ratio has ranged from 0.83 to 1.73 over the past decade. While the company's 10-year median is 1.13 vs. the industry median of 0.87, Broadstone Net Lease 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 PB Ratio for a REITs company?
The median PB Ratio among REITs companies is 0.87, based on 931 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Broadstone Net Lease's current PB Ratio of 1.40 is 60.9% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Broadstone Net Lease and its competitors. For the REITs industry, the median PB Ratio is 0.87 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Broadstone Net Lease's current PB Ratio is 1.40, which is 24% above median its own 10-year median of 1.13. 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 $17.67, compared to a current price of $21.09 — trading 19.4% above its estimated fair value. The current PB Ratio is 1.40, which is 24% above median its 10-year median of 1.13 and 60.9% above the REITs industry median of 0.87. 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 PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Broadstone Net Lease (BNL), the current PB Ratio is 1.40 as of Jul. 06, 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 $21.09 is trading 19.4% above its estimated GF Value™ of $17.67.
GuruFocus considers Broadstone Net Lease to be Modestly Overvalued.
Key valuation signals for BNL:
PB Ratio: 1.40 (24% above median its 10-year median of 1.13)
GF Value™: $17.67 vs. price of $21.09 (19.4% above fair value)
Industry Position: 60.9% above the REITs median (#775 of 931)
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 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
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