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Broadstone Net Lease logo
Broadstone Net Lease BNL
$ 17.23 -2.96%
report update icon

Quarterly report 2026-Q2
added 07-29-2026

Broadstone Net Lease Balance Sheet 2025-2011 | BNL

Brief overview of Broadstone Net Lease's assets and capital

The balance sheet is assessed across five available annual reports spanning 2021 to 2025.

The balance sheet expanded from $4.6 billion to $5.7 billion. Growth of +23.8% and CAGR of 5.5% look measured and sustainable.

Liabilities expanded faster than the asset base, +42.9% versus +23.8%. Debt-service capacity deserves attention.

Internal capital represents 50.8% of the balance sheet, previously 59.3%. This is a strong capital position.

The net-debt-to-equity ratio is 0.86x. Borrowed funding is already a meaningful part of the structure.

The cash share moved from 0.5% to 0.5%. A higher figure generally provides more room in an adverse scenario.

What the balance sheet shows

Broadstone Net Lease's balance sheet is broadly resilient, though selected areas require monitoring. The balance between assets, equity and liabilities remains the key issue.

Annual Balance Sheet Broadstone Net Lease

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011

Net Debt

2.49 B 1.91 B 1.9 B 2.01 B 625 M 1.44 B 1.97 B 1.43 B 1.17 B 845 M - - - - -

Long Term Debt

2.52 B 1.92 B 1.92 B 2.03 B 647 M 1.54 B 1.78 B 1.3 B 905 M 765 M - - - - -

Total Non Current Liabilities

- - - - - - 1.9 B 1.39 B 997 M 832 M - - - - -

Total Liabilities

2.68 B 2.07 B 2.07 B 2.2 B 1.88 B 1.78 B 2.14 B 1.57 B 1.29 B 954 M - - - - -

Retained Earnings

- - - - - - -208 M -155 M -120 M -90 M - - - - -

Total Assets

5.72 B 5.22 B 5.27 B 5.46 B 4.62 B 4.26 B 3.92 B 3.1 B 2.58 B 1.95 B - - - - -

Cash and Cash Equivalents

30.5 M 14.8 M 19.5 M 21.8 M 21.7 M 100 M 12.5 M 18.6 M 9.36 M 21.6 M 27 M - - - -

Book Value

3.03 B 3.14 B 3.19 B 3.26 B 2.74 B 2.48 B 1.78 B 1.53 B 1.28 B 999 M - - - - -

Total Shareholders Equity

2.9 B 3 B 3.05 B 3.09 B 2.74 B 2.3 B 1.67 B 1.42 B 1.19 B 999 M 748 M - - - -

All numbers in USD currency

Quarterly Balance Sheet Broadstone Net Lease

2026-Q2 2026-Q1 2025-Q4 2025-Q3 2025-Q2 2025-Q1 2024-Q4 2024-Q3 2024-Q2 2024-Q1 2023-Q4 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1

Long Term Debt

2.69 B 2.65 B - 2.35 B 2.12 B 2 B 897 M 1.95 B 1.91 B 1.9 B 896 M 1.9 B 895 M 1.95 B 895 M 2.06 B - 1.8 B 647 M 1.6 B 1.5 B 1.51 B 1.55 B 1.55 B 2.04 B 2.14 B 1.99 B 2.1 B 1.48 B 1.44 B 1.45 B 1.31 B 1.29 B 1.22 B 1.18 B 910 M 883 M 837 M 658 M 658 M 658 M - - - - - - - - - - - - - - - - - - - - -

Total Liabilities

2.86 B 2.82 B 2.68 B 2.51 B 2.29 B 2.16 B 2.07 B 2.12 B 2.07 B 2.05 B 2.07 B 2.06 B 2.11 B 2.1 B 2.2 B 2.23 B - 1.96 B 1.88 B 1.79 B 1.7 B 1.71 B 1.78 B 1.78 B 1.78 B 1.78 B 2.14 B 2.14 B 2.14 B 2.14 B 1.57 B 1.57 B 1.57 B 1.57 B 1.29 B 1.29 B 1.29 B 1.29 B 954 M 954 M 954 M - - - - - - - - - - - - - - - - - - - - -

Total Assets

5.87 B 5.85 B 5.72 B 5.52 B 5.33 B 5.24 B 5.22 B 5.26 B 5.26 B 5.27 B 5.27 B 5.34 B 5.37 B 5.34 B 5.46 B 5.24 B - 4.85 B 4.62 B 4.5 B 4.42 B 4.21 B 4.26 B 4.26 B 4.26 B 4.26 B 3.92 B 3.92 B 3.92 B 3.92 B 3.1 B 3.1 B 3.1 B 3.1 B 2.58 B 2.58 B 2.58 B 2.58 B 1.95 B 1.95 B 1.95 B - - - - - - - - - - - - - - - - - - - - -

Cash and Cash Equivalents

11.1 M 20.3 M 30.5 M 82 M 20.8 M 9.6 M 14.8 M 9 M 18.3 M 222 M 19.5 M 35.1 M 20.8 M 15.4 M 21.8 M 75.9 M 16.8 M 54.1 M 21.7 M 16.2 M 20.1 M 10.2 M 100 M 100 M 100 M 100 M 12.5 M 12.5 M 12.5 M 12.5 M 18.6 M 18.6 M 18.6 M 18.6 M 9.36 M 9.36 M 9.36 M 9.36 M 21.6 M 21.6 M 21.6 M - 27 M - - - 4.13 M - - - - - - - - - - - - - - -

Book Value

3.01 B 3.02 B 3.03 B 3.01 B 3.04 B 3.08 B 3.14 B 3.14 B 3.2 B 3.22 B 3.19 B 3.28 B 3.26 B 3.23 B 3.26 B 3.01 B - 2.89 B 2.74 B 2.72 B 2.72 B 2.49 B 2.48 B 2.48 B 2.48 B 2.48 B 1.78 B 1.78 B 1.78 B 1.78 B 1.53 B 1.53 B 1.53 B 1.53 B 1.28 B 1.28 B 1.28 B 1.28 B 999 M 999 M 999 M - - - - - - - - - - - - - - - - - - - - -

Total Shareholders Equity

2.88 B 2.89 B 2.9 B 2.88 B 2.91 B 3.08 B 3 B 3 B 3.2 B 3.22 B 3.05 B 3.28 B 3.26 B 3.23 B 3.09 B 3.01 B 2.97 B 2.89 B 2.58 B 2.72 B 2.72 B 2.49 B 2.3 B 2.3 B 2.3 B 2.3 B 1.67 B 1.67 B 1.67 B 1.67 B 1.42 B 1.42 B 1.42 B 1.42 B 1.19 B 1.19 B 1.19 B 1.19 B 912 M 912 M 912 M - 748 M - - - 394 M - - - - - - - - - - - - - - -

All numbers in USD currency

Balance Sheet is a fundamental financial report of Broadstone Net Lease, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.

For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.

Features of balance sheet analysis
  • Vertical and horizontal analysis
    Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods.
  • Asset quality
    It is important to evaluate not only the amount of assets but also their liquidity and realizability.
  • Accounting for off-balance sheet liabilities
    Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.

Balance sheet of other industry stocks – Reit

Issuer Price % 24h Market Cap Country
PotlatchDeltic Corporation PotlatchDeltic Corporation
PCH
- - $ 3.31 B usaUSA
Crown Castle International Corp. (REIT) Crown Castle International Corp. (REIT)
CCI
$ 78.65 -3.04 % $ 34.2 B usaUSA
Equinix (REIT) Equinix (REIT)
EQIX
$ 995.0 0.77 % $ 97.4 B usaUSA
Farmland Partners Farmland Partners
FPI
$ 9.84 -2.04 % $ 435 M usaUSA
Apartment Income REIT Corp. Apartment Income REIT Corp.
AIRC
- - $ 5.46 B usaUSA
Lamar Advertising Company (REIT) Lamar Advertising Company (REIT)
LAMR
$ 155.08 0.81 % $ 15.7 B usaUSA
American Tower Corporation (REIT) American Tower Corporation (REIT)
AMT
$ 177.64 -3.22 % $ 83.1 B usaUSA
CoreCivic CoreCivic
CXW
$ 29.52 -2.65 % $ 3.16 B usaUSA
NETSTREIT Corp. NETSTREIT Corp.
NTST
$ 16.47 -3.4 % $ 1.36 B usaUSA
Outfront Media  (REIT) Outfront Media (REIT)
OUT
$ 31.0 -0.55 % $ 5.2 B usaUSA
SBA Communications Corporation SBA Communications Corporation
SBAC
$ 173.41 -4.18 % $ 18.6 B usaUSA
Gaming and Leisure Properties Gaming and Leisure Properties
GLPI
$ 38.35 -2.02 % $ 10.7 B usaUSA
Iron Mountain Incorporated Iron Mountain Incorporated
IRM
$ 114.72 1.47 % $ 33.9 B usaUSA
Hannon Armstrong Sustainable Infrastructure Capital Hannon Armstrong Sustainable Infrastructure Capital
HASI
$ 36.48 2.27 % $ 4.49 B usaUSA
Invesco Mortgage Capital Invesco Mortgage Capital
IVR
$ 5.42 0.56 % $ 362 M usaUSA
MGM Growth Properties LLC MGM Growth Properties LLC
MGP
- - $ 6.53 B usaUSA
Weyerhaeuser Company Weyerhaeuser Company
WY
$ 18.98 -1.86 % $ 13.7 B usaUSA
New York City REIT New York City REIT
NYC
$ 5.77 1.58 % $ 14.7 M usaUSA
Uniti Group Uniti Group
UNIT
$ 5.35 -2.9 % $ 1.27 B usaUSA
Power REIT Power REIT
PW
$ 6.81 -2.58 % $ 23.2 M usaUSA
Ares Commercial Real Estate Corporation Ares Commercial Real Estate Corporation
ACRE
$ 3.16 -3.95 % $ 173 M usaUSA
CyrusOne Inc. CyrusOne Inc.
CONE
- 0.58 % $ 11.7 B usaUSA
Rayonier Rayonier
RYN
$ 18.4 -2.23 % $ 2.85 B usaUSA
Duck Creek Technologies Duck Creek Technologies
DCT
- - $ 2.6 B usaUSA