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Fundamental analysis: Broadstone Net Lease, Inc. (BNL)

Awarener score: 5.7

Conclusion

The higher the Awarener score, the more bang you get for the buck. It measures how much genuine funds the company generates for the stock price paid (Average), the business stability (Good) and growth (Very good), and the company's inclination to return cash to the stockholders (Poor).

Note: All scores range from 1 (worst) to 10 (best). Conclusions are updated daily with closing stock prices and new reported quarterly financial statements.

Revenue score: 7.5

  • Business has been growing at a very good pace. It's been more than average in relation to peer companies.
  • Broadstone Net Lease, Inc. business trend stability is good. The higher the stability, the lower the risk. It looks well ranked against rivals.

Margins score: 9.7

  • BNL profit margins -on goods and services sold- are usually huge. They stand well ranked against rival companies.
  • Business profit on sales tends to be huge. It's more than average in relation to competitors.
  • Profits on sales made -available to repay debt and purchase properties- are usually huge. They remain a slight improvement compared to peers.
  • Earnings -before income taxes and interests on loans taken- tend to be huge in relation to total revenues. They're still slightly worse than similar companies.
  • Profits -before income taxes- are usually excellent considering total sales, and remain similar to rivals.
  • Total net profit tends to be excellent when confronted to sales. Company stands almost average when measured against comparable firms.

Growth score: 5.9

  • Broadstone Net Lease, Inc. profit -on goods and services sold- has been growing at a good pace. It's been excellent in relation to competitors.
  • In recent years, earnings -on operations- have been growing at a low step, which has been somewhat better than comparable firms.
  • Profits -available to repay debt and purchase properties- have been growing at a normal pace, which compares encouraging in relation to peer enterprises.
  • Earnings -before income taxes and interests on loans taken- have been growing at a normal tempo. It turns to be rather normal in relation to similar stocks.
  • In past years, profits -before income taxes- grew at a normal speed. It was mediocre against rivals.
  • In the previous years, growth on total net profit has been average, and below average when measured against peer companies.
  • Earnings per share have grown at a low rhythm in past years. It's been lacking compared to industry peers.

Miscellaneous score: 9.0

  • BNL managed to pay no income taxes on profits made in the past years, sometimes even got a credit. It's been somewhat worse than peers.
  • The company does not report R&D expenses. It's meaningless to measure in relation to competitors.
  • We have insufficient data to estimate how effective is research and development effort. It stands unknown against rival companies.

Profitability score: 6.2

  • Broadstone Net Lease, Inc. usually gets good returns on the resources it controls. It proves almost average when measured against peer firms.
  • The company normally gets hardly sufficient proceeds -on the resources directly invested in the business-. They remain close to average when compared to similar companies.
  • There's usually some profitability -in relation to owned resources-. It ranks almost average when measured against competitors.
  • In the past, got good returns -on the tangible resources it controls-. This metric is usually related to the industry in which operates and combines profitability versus reinvestment needs. It's similar to comparable enterprises.

Usage of Funds score: 5.1

  • BNL usually uses almost all genuine funds generated to buy or replace property, plant, or equipment. The need for reinvestments is huge. It stands similar to rival firms.
  • The company is usually heavily investing in new property, plant, and equipment, to expand its operating capabilities, which is more than average in relation to industry peers.
  • In the past twelve months it paid very good dividends, considering the current stock price. It came slightly worse than competitors.
  • Has significantly increased dividend payments in the past years. Business prospects probably have improved. The company has behaved in good shape compared to similar firms.
  • The company generates very few genuine funds. Dividend payments are usually on borrowed money, which isn't sustainable in the long run. Unless business prospects improve greatly, future payments could be at risk. Sustainability looks bottom tier against comparable companies.
  • The company usually enlarges quite a bit the pool of investors, resulting in more mouths feeding on the pie of profits. It remains a slight improvement compared to peer enterprises.
  • Repurchase effectiveness metric is very complex. Run again in analytical mode if you're interested in a technical explanation. It stands in a very weak position compared to rivals.
  • We do not have sufficient data to comment on buybacks and their sustainability. It still looks dubious against competitors.

Balance Sheet score: 5.8

  • Broadstone Net Lease, Inc. intangible assets (like brands and goodwill) represent a modest portion of resources controlled, according to accounting books. There could be some difficulties in liquidating them if the company ever gets in financial distress. It happens to be substantially worse when measured against peer companies.
  • Current ratio remains a mystery, as there was not sufficient Balance Sheet information. It turns to be unidentifiable against similar firms.
  • Roughly a tenth of resources controlled were provided for with financial debt. Creditors have minor claims on the company, and financial position is safe. It remains slightly worse than rival firms.
  • Controlled resources might be only very slowly turned into cash and equivalents, which is riskier. It looks below average when measured against rivals.
  • Quick ratio is unavailable at this moment, due to lacking data. It's a pity we cannot compare it with peer firms.
  • A conclusion on cash ratio could not be reached, as we lack inputs, which is unfortunate when trying to measure against similar enterprises.
  • Usually, sales are mostly on cash. It still ranks below average when measured against peers.
  • Normally has no inventories. It comes up as impressive in relation to competitors.
  • On average, it takes less than one month from the purchase to charging customers. It happens to be somewhat worse than peers.
  • Pays suppliers mostly in cash. It ranks great when measured against industry peers.
  • The company pays its suppliers almost when charging its customers, so there's very little money invested in working capital. It's excellent in relation to similar companies.
  • Usual business earnings are mostly consumed by net interest expenses. Creditors may be earning money by assuming risks, but stockholders not so much. Profitability must increase, lest the firm risks only working for creditors' benefit. It stands somewhat worse than rival firms.
  • Business earnings have usually been quite good when measured against loans taken. Cutting back reinvesting in the business, it could take around three years to repay the obligations with current profitability. It ranks below average when measured against comparable enterprises.
  • Revenues are low in relation to property, plant, and equipment required to operate. This metric is likely dependent on the industry the company operates in. The more property, plant, and equipment used, the more the company must reinvest to fight obsolescence, which usually means less available funds for the shareholders in the long run. It looks impressive in relation to similar firms.
  • Resource exploitation is very low when yearly sales are considered, business volume must be greatly increased. This metric is normally tied to the industry where the firm belongs. It's still mediocre against peer companies.

Valuation score: 5.2

  • Broadstone Net Lease, Inc. looks very expensive in relation to profits and financial position. It happens to be almost average when measured against competitors.
  • Price-to-Tangible-Book-Value is a fairly complex metric. Run again in analytical mode if you're interested in a technical explanation. It remains rather normal in relation to peers.
  • In the past twelve months, the company generated some slightly better free funds in relation to the stock price, which stands better than most similar companies.
  • In the past years the company hardly generated enough genuine funds to cover up for its business needs. Business prospects should improve enough to be in a better position to reward investors. It's still weak when measured against industry firms.
  • In the past twelve months, the company has significantly enlarged the pool of investors by issuing new shares. Future profits need to be high enough to justify the measure, as the pie of earnings will now be split among numerous more stockholders. It came up in a weak position compared to peer ventures.
  • The company is somewhat indebted, loan repayment needs to be taken into account. It looks slightly better than similar enterprises.
  • Considering the past twelve months, traditional Price-to-Earnings relation is high. Substantial improvement expectations are already in the stock price, which is somewhat risky. It ranks almost average when measured against peer companies.
  • Comparing the current stock price with the past twelve-months revenues gives a very large relationship. The stock price might rely more on expectations and resources controlled than on anything else. It looks in a weak position compared to rival firms.
  • The relation between the stock price and accounting book value might be more than reasonable. It's important both to check this metric through time and to compare it with rival companies. The company remains somewhat better than peer firms.
  • In the past twelve months, the operating business earned some money when compared to the current stock price and financial position. It happens to be below average when measured against industry peers.
  • In an alternate metric of bang for the buck, the company has usually shown a good earnings power ability when measured against the current stock price and financial position. It's still in a weak position compared to peer companies.

Total score: 6.8


BNL logos

Company at a glance: Broadstone Net Lease, Inc. (BNL)

Sector, industry: Real Estate, REIT—Diversified

Market Cap: 3.18 billions

Revenues TTM: 0.41 billions

BNL is an internally-managed REIT that acquires, owns, and manages primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. The Company utilizes an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting. As of September 30, 2020, BNL's diversified portfolio consisted of 627 properties in 41 U.S. states and one property in Canada across the industrial, healthcare, restaurant, office, and retail property types, with an aggregate gross asset value of approximately $4.0 billion.

Awarener score: 5.7

Conclusion

The higher the Awarener score, the more bang you get for the buck. It measures how much genuine funds the company generates for the stock price paid (Average), the business stability (Good) and growth (Very good), and the company's inclination to return cash to the stockholders (Poor).