0001424182-26-000012
SEC filingBroadstone Net Lease, Inc. (BNL) reported its fiscal year 2025 results with total assets of $5.72 billion. The company generated $454.1 million in net lease revenues and achieved net income of $99.4 million, with net income attributable to BNL at $96.5 million. Comprehensive income attributable to BNL was $67.7 million. Operating cash flow was strong at $299.5 million, supporting significant investing activities of $675.3 million primarily for property acquisitions and development. The balance sheet shows total liabilities of $2.68 billion and total equity of $3.03 billion, with debt including $1.19 billion in senior unsecured notes and $994.2 million in unsecured term loans. The company paid $218.8 million in cash distributions to stockholders.
Broadstone Net Lease, Inc. reported financial results for fiscal year 2025 ending December 31, 2025. The company generated $454.1 million in net lease revenues and achieved net income of $99.4 million. Net income attributable to Broadstone Net Lease, Inc. was $96.5 million after accounting for $2.9 million attributable to non-controlling interests. Comprehensive income attributable to BNL was $67.7 million, reflecting adjustments for interest rate swap valuations. Basic earnings per share was $1.00 based on 188.1 million weighted average shares outstanding. The company's total operating expenses were $265.7 million, including $164.1 million in depreciation and amortization, $38.9 million in general and administrative expenses, $23.0 million in property and operating expenses, and $39.7 million in provision for impairment of investment in rental properties.
The company's revenue is derived primarily from lease operations, with net lease revenues of $454.1 million for fiscal year 2025. The document does not provide segment breakdowns or geographic mix data. Other income components included $389,000 in interest income, $12.6 million in gain on sale of real estate, and -$6.4 million in other expenses. Interest expense was significant at $94.5 million, reflecting the company's debt financing structure. Income taxes were $1.2 million for the period.
Operating margin cannot be calculated as operating income is not explicitly provided in the data. The company's cost structure shows significant depreciation and amortization expenses of $164.1 million, representing the largest component of operating expenses. Property and operating expenses were $23.0 million, while general and administrative expenses were $38.9 million. The provision for impairment of investment in rental properties was $39.7 million, indicating asset valuation adjustments during the period. Interest expense of $94.5 million represents a substantial cost affecting net profitability.
Operating activities generated $299.5 million in cash flow, with adjustments including $159.6 million in depreciation and amortization and $39.7 million in provision for impairment. Investing activities used $675.3 million primarily for $434.2 million in acquisition of rental property and $303.7 million in investment in property under development. Financing activities provided $393.4 million, including $844.8 million in borrowings on senior unsecured notes and term loans offset by $420.2 million in principal payments. The balance sheet shows total assets of $5.72 billion, with $4.82 billion in net investment in rental property. Total liabilities were $2.68 billion, including $1.19 billion in senior unsecured notes and $994.2 million in unsecured term loans. Total equity was $3.03 billion, with $2.90 billion attributable to BNL.
The document content provided does not include management guidance, strategic priorities, or specific risk factor discussions that would typically appear in the Management Discussion & Analysis section of a 10-K filing. The financial data presented focuses on historical results for fiscal year 2025 without forward-looking statements or projections. Investors should refer to the complete 10-K filing for comprehensive risk factor disclosures and management's discussion of future plans.