Broadstone Net LeaseBNL +2.26%78 Return-on-Tangible-Equity is 8.09% as of Mar. 2026, which is 33% above its 10-year median of 6.06. GuruFocus rates BNL with a GF Score™ of 78/100 and a GF Value™ of $17.66 (Modestly Overvalued). The stock has 9 warning signs investors should review. Among 935 REITs companies, Broadstone Net Lease ranks worse than 56.79% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Broadstone Net Lease's annualized net income for the quarter that ended in Mar. 2026 was $185.5 Mil. Broadstone Net Lease's average shareholder tangible equity for the quarter that ended in Mar. 2026 was $2,292.5 Mil. Therefore, Broadstone Net Lease's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 8.09%.
The historical rank and industry rank for Broadstone Net Lease's Return-on-Tangible-Equity or its related term are showing as below:
BNL'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 3.41 Med: 6.06 Max: 6.74
Current: 5.47
During the past 11 years, Broadstone Net Lease's highest Return-on-Tangible-Equity was 6.74%. The lowest was 3.41%. And the median was 6.06%.
BNL's Return-on-Tangible-Equity is ranked worse than 56.79% of 935
companies
in the REITs industry
Industry Median: 6.23
vs BNL: 5.47
Broadstone Net Lease (NYSE:BNL) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Broadstone Net Lease Return-on-Tangible-Equity Related Terms
Broadstone Net Lease Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Broadstone Net Lease's Return-on-Tangible-Equity 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 Return-on-Tangible-Equity Chart
BNL vs GNL, AAT, SAFE: Return-on-Tangible-Equity Comparison
For the REIT - Diversified subindustry, Broadstone Net Lease's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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 Return-on-Tangible-Equity vs REITs Industry
For the REITs industry and Real Estate sector, Broadstone Net Lease's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Broadstone Net Lease's Return-on-Tangible-Equity 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 8.09% mean?
Broadstone Net Lease (BNL) has a Return-on-Tangible-Equity of 8.09% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Broadstone Net Lease and its competitors. This is 33% above median its historical median of 6.06. Over the past decade, Broadstone Net Lease's Return-on-Tangible-Equity has ranged from 3.41 to 6.74. According to the industry distribution chart, Broadstone Net Lease ranks #531 out of 935 companies in the REITs industry, placing it in the top 56.8%.
Is Broadstone Net Lease's Return-on-Tangible-Equity too high?
Broadstone Net Lease's current Return-on-Tangible-Equity of 8.09% is 33% above median its 10-year median of 6.06. Over the past 10 years, this metric has ranged from a low of 3.41 to a high of 6.74. The REITs industry median Return-on-Tangible-Equity is 6.23. Broadstone Net Lease's value of 8.09% is 29.9% above this industry median. Based on the distribution chart, Broadstone Net Lease ranks #531 out of 935 companies in the REITs industry, which is below the industry midpoint. 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 Return-on-Tangible-Equity compare to GNL and AAT?
According to the REITs industry distribution chart, Broadstone Net Lease ranks #531 out of 935 companies for Return-on-Tangible-Equity. This places Broadstone Net Lease in the lower half of its industry. The industry median Return-on-Tangible-Equity is 6.23. Broadstone Net Lease's value of 8.09% is 29.9% above this benchmark. Historically, Broadstone Net Lease's own Return-on-Tangible-Equity has ranged from 3.41 to 6.74 over the past decade. While the company's 10-year median is 6.06 vs. the industry median of 6.23, 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 Return-on-Tangible-Equity for a REITs company?
The median Return-on-Tangible-Equity among REITs companies is 6.23, based on 935 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Broadstone Net Lease's current Return-on-Tangible-Equity of 8.09% is 29.9% 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 Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Broadstone Net Lease and its competitors. For the REITs industry, the median Return-on-Tangible-Equity is 6.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Broadstone Net Lease's current Return-on-Tangible-Equity is 8.09%, which is 33% above median its own 10-year median of 6.06. 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 $17.66, compared to a current price of $21.25 — trading 20.3% above its estimated fair value. The current Return-on-Tangible-Equity is 8.09%, which is 33% above median its 10-year median of 6.06 and 29.9% above the REITs industry median of 6.23. 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 Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Broadstone Net Lease (BNL), the current Return-on-Tangible-Equity is 8.09% 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 $21.25 is trading 20.3% above its estimated GF Value™ of $17.66.
GuruFocus considers Broadstone Net Lease to be Modestly Overvalued.
Key valuation signals for BNL:
Return-on-Tangible-Equity: 8.09% (33% above median its 10-year median of 6.06)
GF Value™: $17.66 vs. price of $21.25 (20.3% above fair value)
Industry Position: 29.9% above the REITs median (#531 of 935)
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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