Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Selling, general, & admin. expense (SGA) includes the direct and indirect costs and all general and administrative expenses of a company. Broadstone Net Lease's selling, general, & admin. expense for the
three
months ended in Mar. 2026 was $10.3 Mil.
Its selling, general, & admin. expense for the trailing twelve months (TTM) ended in Mar. 2026 was $39.6 Mil.
Broadstone Net Lease (NYSE:BNL) Selling, General, & Admin. Expense Explanation
An efficient operation keeps SGA costs low and thus has higher profit margin. The percentage of SGA relative to total revenue is an indication of how efficiently the company operates. Compare this percentage among the companies in the same industry is a good way of finding more efficient operations. A comparison of the SGA cost relative to the revenue with the historical value can also be an indication of how efficient the company has become.
Warren Buffett likes companies with consistent SGA as the percentage of gross profit.
Companies with no durable competitive advantage show wild variation in SG&A as % of Gross Profit.
If SGA is less than 30% of Gross Profit, it is fantastic. If SGA is nearing 100%, it is is in highly competitive industry.
Broadstone Net Lease Selling, General, & Admin. Expense Related Terms
Broadstone Net Lease Selling, General, & Admin. Expense Historical Data
* Premium members only.
The historical data trend for Broadstone Net Lease's Selling, General, & Admin. Expense 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 Selling, General, & Admin. Expense Chart
BNL vs GNL, AAT, SAFE: Selling, General, & Admin. Expense Comparison
For the REIT - Diversified subindustry, Broadstone Net Lease's Selling, General, & Admin. Expense, along with its competitors' market caps and Selling, General, & Admin. Expense 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 Selling, General, & Admin. Expense vs REITs Industry
For the REITs industry and Real Estate sector, Broadstone Net Lease's Selling, General, & Admin. Expense distribution charts can be found below:
* The bar in red indicates where Broadstone Net Lease's Selling, General, & Admin. Expense falls into.
Broadstone Net Lease Selling, General, & Admin. Expense Calculation
Selling, General, & Admin. Expense (SGA) includes the direct and indirect costs and all general and administrative expenses of a company. For instance, personnel cost, advertising, rent, communication costs are all part of SGA.
Selling, General, & Admin. Expense 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 $39.6 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.
What does a Selling, General, & Admin. Expense of $39.6 Mil mean?
Broadstone Net Lease (BNL) has a Selling, General, & Admin. Expense of $39.6 Mil as of Mar. 2026. Selling, general and admin expense is the total cost for direct, indirect, general and administrative activities. View historical data on Broadstone Net Lease and its competitors.
Is Broadstone Net Lease's Selling, General, & Admin. Expense too high?
Broadstone Net Lease's current Selling, General, & Admin. Expense is $39.6 Mil. Overall, Broadstone Net Lease has a GF Score™ of 77/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Broadstone Net Lease's Selling, General, & Admin. Expense compare to GNL and AAT?
Broadstone Net Lease's Selling, General, & Admin. Expense of $39.6 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 Selling, General, & Admin. Expense for a REITs company?
A good Selling, General, & Admin. Expense depends on the REITs industry context. However, Selling, General, & Admin. Expense 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 Selling, General, & Admin. Expense mean?
A high Selling, General, & Admin. Expense can signal that a stock is expensive relative to its fundamentals. Selling, general and admin expense is the total cost for direct, indirect, general and administrative activities. View historical data on Broadstone Net Lease and its competitors. Broadstone Net Lease's current Selling, General, & Admin. Expense is $39.6 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 $17.73, compared to a current price of $22.36 — trading 26.1% above its estimated fair value. The current Selling, General, & Admin. Expense is $39.6 Mil. Broadstone Net Lease's overall GF Score™ is 77/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Selling, General, & Admin. Expense calculated?
Selling, General, & Admin. Expense is calculated from a company's financial statements. For Broadstone Net Lease (BNL), the current Selling, General, & Admin. Expense is $39.6 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 $22.36 is trading 26.1% above its estimated GF Value™ of $17.73.
GuruFocus considers Broadstone Net Lease to be Modestly Overvalued.
Key valuation signals for BNL:
Selling, General, & Admin. Expense: $39.6 Mil
GF Value™: $17.73 vs. price of $22.36 (26.1% above fair value)
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.
77GF Score
Get the complete analysis for BNL
Selling, General, & Admin. Expense is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
BNL has been successfully added to your 
