# NNN REIT Inc. (NNN) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Real Estate / Equity Real Estate Investment Trusts (REITs). Price $44.63, market value $8.5 billion.

## Valuation
- **P/E (trailing): 22.0×** (5-yr avg 19.7×, 3-yr avg 17.8×). NNN REIT Inc. trades at 22.0× trailing earnings, close to its own five-year average of 19.7×. The Real Estate median in the September 2026 study was 25.2×. Forward P/E is 21.2×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 9.0×**. Each dollar of revenue is priced at 9.0×.
- **Price / book: 1.9×**. The shares trade at 1.9× book value; book value is a meaningful part of the valuation.
- **Earnings yield: 4.5%**. The inverse of the P/E: 4.5% of the price is earned each year.

## Profitability
- **Operating margin: 63.5%**. 63.5% of revenue is left after running the business, an exceptional level.
- **Net margin: 42.1%**. 42.1% of each dollar of sales reaches the bottom line.
- **Return on equity: 8.8%**. 8.8% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on assets: 4.2%**. Each dollar of assets produces 4.2% of profit.

## Growth
- **Revenue growth (1 yr): 6.6%** (3-yr 6.2%/yr, 5-yr 7.0%/yr). Revenue grew 6.6% over the last year, against 7.0% a year compounded over five years.
- **EPS growth (1 yr): -3.7%** (3-yr 3.1%/yr, 5-yr 11.2%/yr). Earnings per share fell 3.7%, slower than revenue, so margins compressed.

## Financial health
- **Altman Z-score: 1.99**. A Z-score of 1.99 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 5.56%** ($2.40 per share, trailing). NNN REIT Inc. yields 5.56%, an income-level yield.
- **Payout ratio: 114%**. The dividend exceeds earnings (114% payout), which is rarely sustainable outside REITs and one-off years.
- **Consecutive years of increases: 26**. 26 straight years of increases (the data covers 26 years, so this may be longer): a record very few companies hold.
- **Dividend growth (5 yr): 2.7%/yr** (1-yr 3.1%). The dividend has grown 2.7% a year over five years.

## Analyst view
- **Analyst consensus: hold** (15 analysts). 15 analysts cover NNN REIT Inc.; the consensus is hold, with an average price target of $47.80 (+7% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 10.0%** (YTD 15.9%, 3-mo -0.7%). The shares are up 10.0% over twelve months including dividends.
- **From 52-week high: -10.7%** (14.7% above the low). Trading 11% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 34**. An RSI of 34 is neutral.
- **Beta (1 yr): -0.05** (volatility 16%). Beta of -0.05 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=NNN · Page: https://foliofundamentals.com/stocks/nnn

Not investment advice.