BROADSTONE NET LEASE INC (BNL) Stock Fundamental Analysis
USA - NYSE:BNL - US11135E2037 - REIT
18.56 USD
+0.08 (+0.43%)
18.56 USD
0 (0%)
Taking everything into account, BNL scores 4 out of 10 in our fundamental rating. BNL was compared to 129 industry peers in the Diversified REITs industry. BNL has an excellent profitability rating, but there are concerns on its financial health. BNL does not seem to be growing, but still is valued expensively.
1. Profitability
1.1 Basic Checks
BNL had positive earnings in the past year.
In the past year BNL had a positive cash flow from operations.
Each year in the past 5 years BNL has been profitable.
Each year in the past 5 years BNL had a positive operating cash flow.
1.2 Ratios
The Return On Assets of BNL (1.83%) is better than 60.47% of its industry peers.
BNL's Return On Equity of 3.36% is in line compared to the rest of the industry. BNL outperforms 57.36% of its industry peers.
BNL's Return On Invested Capital of 3.30% is fine compared to the rest of the industry. BNL outperforms 63.57% of its industry peers.
The Average Return On Invested Capital over the past 3 years for BNL is in line with the industry average of 3.01%.
The 3 year average ROIC (3.20%) for BNL is below the current ROIC(3.30%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.83% | ||
| ROE | 3.36% | ||
| ROIC | 3.3% |
ROA(3y)2.75%
ROA(5y)2.33%
ROE(3y)4.79%
ROE(5y)4.11%
ROIC(3y)3.2%
ROIC(5y)3.14%
1.3 Margins
With a decent Profit Margin value of 22.10%, BNL is doing good in the industry, outperforming 75.19% of the companies in the same industry.
In the last couple of years the Profit Margin of BNL has grown nicely.
BNL's Operating Margin of 49.14% is amongst the best of the industry. BNL outperforms 90.70% of its industry peers.
In the last couple of years the Operating Margin of BNL has remained more or less at the same level.
BNL has a better Gross Margin (86.56%) than 88.37% of its industry peers.
In the last couple of years the Gross Margin of BNL has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 49.14% | ||
| PM (TTM) | 22.1% | ||
| GM | 86.56% |
OM growth 3Y-1.4%
OM growth 5Y1.29%
PM growth 3Y11.92%
PM growth 5Y7.05%
GM growth 3Y0.06%
GM growth 5Y0.13%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), BNL is destroying value.
The number of shares outstanding for BNL has been increased compared to 1 year ago.
BNL has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, BNL has a worse debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 0.95, we must say that BNL is in the distress zone and has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 0.95, BNL is in the better half of the industry, outperforming 72.87% of the companies in the same industry.
A Debt/Equity ratio of 0.73 indicates that BNL is somewhat dependend on debt financing.
BNL has a better Debt to Equity ratio (0.73) than 75.19% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.73 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.95 |
ROIC/WACC0.49
WACC6.7%
2.3 Liquidity
A Current Ratio of 1.62 indicates that BNL should not have too much problems paying its short term obligations.
BNL's Current ratio of 1.62 is fine compared to the rest of the industry. BNL outperforms 68.22% of its industry peers.
BNL has a Quick Ratio of 1.62. This is a normal value and indicates that BNL is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 1.62, BNL is in the better half of the industry, outperforming 68.22% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.62 | ||
| Quick Ratio | 1.62 |
3. Growth
3.1 Past
BNL shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -37.35%.
The Earnings Per Share has been growing by 9.96% on average over the past years. This is quite good.
Looking at the last year, BNL shows a small growth in Revenue. The Revenue has grown by 3.86% in the last year.
The Revenue has been growing slightly by 7.64% on average over the past years.
EPS 1Y (TTM)-37.35%
EPS 3Y9.65%
EPS 5Y9.96%
EPS Q2Q%-47.37%
Revenue 1Y (TTM)3.86%
Revenue growth 3Y4.09%
Revenue growth 5Y7.64%
Sales Q2Q%6.68%
3.2 Future
BNL is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -6.98% yearly.
Based on estimates for the next years, BNL will show a small growth in Revenue. The Revenue will grow by 4.62% on average per year.
EPS Next Y-25.93%
EPS Next 2Y-8.7%
EPS Next 3Y-9.9%
EPS Next 5Y-6.98%
Revenue Next Year5.41%
Revenue Next 2Y5.84%
Revenue Next 3Y6.65%
Revenue Next 5Y4.62%
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 35.69 indicates a quite expensive valuation of BNL.
BNL's Price/Earnings ratio is in line with the industry average.
BNL's Price/Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 27.53.
The Price/Forward Earnings ratio is 25.59, which means the current valuation is very expensive for BNL.
Compared to the rest of the industry, the Price/Forward Earnings ratio of BNL indicates a rather cheap valuation: BNL is cheaper than 82.95% of the companies listed in the same industry.
BNL's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 23.04.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 35.69 | ||
| Fwd PE | 25.59 |
4.2 Price Multiples
BNL's Enterprise Value to EBITDA is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 14.88 |
4.3 Compensation for Growth
The decent profitability rating of BNL may justify a higher PE ratio.
BNL's earnings are expected to decrease with -9.90% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)3.58
EPS Next 2Y-8.7%
EPS Next 3Y-9.9%
5. Dividend
5.1 Amount
BNL has a Yearly Dividend Yield of 6.32%, which is a nice return.
BNL's Dividend Yield is a higher than the industry average which is at 7.00.
BNL's Dividend Yield is rather good when compared to the S&P500 average which is at 2.40.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.32% |
5.2 History
BNL has been paying a dividend for over 5 years, so it has already some track record.
BNL has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)N/A
Div Incr Years4
Div Non Decr Years4
5.3 Sustainability
BNL pays out 224.88% of its income as dividend. This is not a sustainable payout ratio.
DP224.88%
EPS Next 2Y-8.7%
EPS Next 3Y-9.9%
18.56
+0.08 (+0.43%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners86.26%
Inst Owner Change-0.06%
Ins Owners0.88%
Ins Owner Change4.42%
Market Cap3.51B
Analysts80
Price Target19.67 (5.98%)
Short Float %2.7%
Short Ratio3.35
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.32% |
Yearly Dividend1.15
Dividend Growth(5Y)N/A
DP224.88%
Div Incr Years4
Div Non Decr Years4
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-45.17%
Min EPS beat(2)-48.59%
Max EPS beat(2)-41.76%
EPS beat(4)0
Avg EPS beat(4)-32.65%
Min EPS beat(4)-48.59%
Max EPS beat(4)-10.42%
EPS beat(8)3
Avg EPS beat(8)-5.71%
EPS beat(12)6
Avg EPS beat(12)8.62%
EPS beat(16)10
Avg EPS beat(16)12.03%
Revenue beat(2)1
Avg Revenue beat(2)-1.3%
Min Revenue beat(2)-3.17%
Max Revenue beat(2)0.57%
Revenue beat(4)3
Avg Revenue beat(4)-0.38%
Min Revenue beat(4)-3.17%
Max Revenue beat(4)0.7%
Revenue beat(8)3
Avg Revenue beat(8)-1.61%
Revenue beat(12)6
Avg Revenue beat(12)-0.54%
Revenue beat(16)7
Avg Revenue beat(16)1.71%
PT rev (1m)0%
PT rev (3m)3.05%
EPS NQ rev (1m)-13.72%
EPS NQ rev (3m)-19.63%
EPS NY rev (1m)0%
EPS NY rev (3m)-5.01%
Revenue NQ rev (1m)0.41%
Revenue NQ rev (3m)1.6%
Revenue NY rev (1m)0.35%
Revenue NY rev (3m)1.15%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 35.69 | ||
| Fwd PE | 25.59 | ||
| P/S | 7.94 | ||
| P/FCF | N/A | ||
| P/OCF | 12.45 | ||
| P/B | 1.21 | ||
| P/tB | 1.53 | ||
| EV/EBITDA | 14.88 |
EPS(TTM)0.52
EY2.8%
EPS(NY)0.73
Fwd EY3.91%
FCF(TTM)-0.39
FCFYN/A
OCF(TTM)1.49
OCFY8.03%
SpS2.34
BVpS15.37
TBVpS12.14
PEG (NY)N/A
PEG (5Y)3.58
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.83% | ||
| ROE | 3.36% | ||
| ROCE | 4.17% | ||
| ROIC | 3.3% | ||
| ROICexc | 3.31% | ||
| ROICexgc | 3.77% | ||
| OM | 49.14% | ||
| PM (TTM) | 22.1% | ||
| GM | 86.56% | ||
| FCFM | N/A |
ROA(3y)2.75%
ROA(5y)2.33%
ROE(3y)4.79%
ROE(5y)4.11%
ROIC(3y)3.2%
ROIC(5y)3.14%
ROICexc(3y)3.21%
ROICexc(5y)3.16%
ROICexgc(3y)3.71%
ROICexgc(5y)3.68%
ROCE(3y)4.05%
ROCE(5y)3.97%
ROICexcg growth 3Y-1.95%
ROICexcg growth 5Y4.16%
ROICexc growth 3Y-1.44%
ROICexc growth 5Y3.2%
OM growth 3Y-1.4%
OM growth 5Y1.29%
PM growth 3Y11.92%
PM growth 5Y7.05%
GM growth 3Y0.06%
GM growth 5Y0.13%
F-Score5
Asset Turnover0.08
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.73 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 5.63 | ||
| Cap/Depr | 224.8% | ||
| Cap/Sales | 80.59% | ||
| Interest Coverage | 2.64 | ||
| Cash Conversion | 75.02% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.62 | ||
| Quick Ratio | 1.62 | ||
| Altman-Z | 0.95 |
F-Score5
WACC6.7%
ROIC/WACC0.49
Cap/Depr(3y)331.73%
Cap/Depr(5y)318.61%
Cap/Sales(3y)119.74%
Cap/Sales(5y)113.26%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-37.35%
EPS 3Y9.65%
EPS 5Y9.96%
EPS Q2Q%-47.37%
EPS Next Y-25.93%
EPS Next 2Y-8.7%
EPS Next 3Y-9.9%
EPS Next 5Y-6.98%
Revenue 1Y (TTM)3.86%
Revenue growth 3Y4.09%
Revenue growth 5Y7.64%
Sales Q2Q%6.68%
Revenue Next Year5.41%
Revenue Next 2Y5.84%
Revenue Next 3Y6.65%
Revenue Next 5Y4.62%
EBIT growth 1Y2.33%
EBIT growth 3Y2.63%
EBIT growth 5Y9.03%
EBIT Next Year97.75%
EBIT Next 3Y32.87%
EBIT Next 5YN/A
FCF growth 1Y77.61%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y2.72%
OCF growth 3Y4.1%
OCF growth 5Y13.39%