Revenue
244 million USD
2026 Q2 · USD
Exact inputs and evidence
- Revenue: 244266000 USD Source
Fundies. English
NATIONAL RETAIL PROPERTIES, INC.
EDGARAnnual consolidated revenue for 2025: about USD 926.2M, using the latest reported figures. The previous period, 2024, was about USD 869.3M.
Latest quarter
Operating margin
61.97%
2026 Q2 · %
Operating cash flow
142 million USD
2026 Q2 · USD
- Cash and cash equivalents
- 4.22 million USD Source
Exact value
4223000 USD
- Long-term debt including current maturities
- Not available
- Shares outstanding
- 192 million shares Source
Exact value
191931110 shares
Reported share-count change
1.98% · 3.72 million shares
Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.
Trailing twelve months
The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.
Revenue
953 million USD
2025-07-01 – 2026-06-30
Exact inputs and evidence
Net income
385 million USD
2025-07-01 – 2026-06-30
Exact inputs and evidence
Operating cash flow
673 million USD
2025-07-01 – 2026-06-30
Exact inputs and evidence
- Operating cash flow: 540963000 USD · 2025-01-01 – 2025-09-30 Source
- Operating cash flow: 322702000 USD · 2025-01-01 – 2025-06-30 Source
- Operating cash flow: 667131000 USD · 2025-01-01 – 2025-12-31 Source
- Operating cash flow: 540963000 USD · 2025-01-01 – 2025-09-30 Source
- Operating cash flow: 187031000 USD · 2026-01-01 – 2026-03-31 Source
- Operating cash flow: 328579000 USD · 2026-01-01 – 2026-06-30 Source
- Operating cash flow: 187031000 USD · 2026-01-01 – 2026-03-31 Source
Includes later revisions to earlier periods. Annual charts exclude incomplete years.
Latest filing recorded: 2026-08-05.
Financial data available through: 2025-12-31.
Coverage by financial measure
- Revenue: 11 of 11 periods available· newest 2025-12-31
- Operating income: 11 of 11 periods available· newest 2025-12-31
- Net income: 11 of 11 periods available· newest 2025-12-31
- Operating cash flow: 11 of 11 periods available· newest 2025-12-31
- capital expenditure: No compatible figures in this window
- Total assets: 11 of 11 periods available· newest 2025-12-31
- Total liabilities: 11 of 11 periods available· newest 2025-12-31
- current assets: No compatible figures in this window
- current liabilities: No compatible figures in this window
- Cash and cash equivalents: 11 of 11 periods available· newest 2025-12-31
- long term debt: No compatible figures in this window
- Shares outstanding: 11 of 11 periods available· newest 2025-12-31
Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.
What changed year over year
Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.
Revenue
+6.6%Prior period
USD 869.27 million
–
Current period
USD 926.21 million
–
Exact inputs and evidence
926213000 − 869266000 = 56947000 USD
869266000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source926213000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceShare or cite
The citation records this snapshot. The page link may show a newer release later.
Net income
-1.8%Prior period
USD 396.84 million
–
Current period
USD 389.78 million
–
Exact inputs and evidence
389777000 − 396835000 = -7058000 USD
396835000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source389777000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceShare or cite
The citation records this snapshot. The page link may show a newer release later.
Operating cash flow
+5%Prior period
USD 635.5 million
–
Current period
USD 667.13 million
–
Exact inputs and evidence
667131000 − 635504000 = 31627000 USD
635504000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source667131000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceShare or cite
The citation records this snapshot. The page link may show a newer release later.
Comparable inputs unavailable for: Capital expenditure.
Where revenue goes
How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.
2025 2025-01-01 – 2025-12-31
- Revenue USD 926.21 million 100% of revenue
- Operating costs Derived USD 336.73 million 36% of revenue
- Operating income USD 589.49 million 64% of revenue
- Tax, interest and other Derived USD 199.71 million 22% of revenue
- Net income USD 389.78 million 42% of revenue
Cash
- Operating cash flow USD 667.13 million 72% of revenue
- Capital expenditure Unavailable An input is unavailable.
- Free cash flow Derived Unavailable An input is unavailable.
Share of revenue by period
- Net income
- Tax, interest and other
- Operating costs
- 2016 45%18%37%
- 2017 45%19%36%
- 2018 47%21%32%
- 2019 45%18%38%
- 2020 35%22%43%
- 2021 40%22%38%
- 2022 43%19%38%
- 2023 47%20%33%
- 2024 46%21%34%
- 2025 42%22%36%
Values and sources
| Period | Revenue | Operating costs | Operating income | Tax, interest and other | Net income | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| 2016 2016-01-01 – 2016-12-31 | 533647000 | 197396000 Derived | 336251000 | 96751000 Derived | 239500000 | Unavailable | Source
|
| 2017 2017-01-01 – 2017-12-31 | 584933000 | 210775000 Derived | 374158000 | 109185000 Derived | 264973000 | Unavailable | Source
|
| 2018 2018-01-01 – 2018-12-31 | 622661000 | 197899000 Derived | 424762000 | 132315000 Derived | 292447000 | Unavailable | Source
|
| 2019 2019-01-01 – 2019-12-31 | 670487000 | 253968000 Derived | 416519000 | 117339000 Derived | 299180000 | Unavailable | Source
|
| 2020 2020-01-01 – 2020-12-31 | 660681000 | 286192000 Derived | 374489000 | 145690000 Derived | 228799000 | Unavailable | Source
|
| 2021 2021-01-01 – 2021-12-31 | 726407000 | 277311000 Derived | 449096000 | 158983000 Derived | 290113000 | Unavailable | Source
|
| 2022 2022-01-01 – 2022-12-31 | 773053000 | 290516000 Derived | 482537000 | 147911000 Derived | 334626000 | Unavailable | Source
|
| 2023 2023-01-01 – 2023-12-31 | 828111000 | 273007000 Derived | 555104000 | 162764000 Derived | 392340000 | Unavailable | Source
|
| 2024 2024-01-01 – 2024-12-31 | 869266000 | 291394000 Derived | 577872000 | 181037000 Derived | 396835000 | Unavailable | Source
|
| 2025 2025-01-01 – 2025-12-31 | 926213000 | 336727000 Derived | 589486000 | 199709000 Derived | 389777000 | Unavailable | Source
|
Amounts are exact, in USD.
Growth
Sales over time and how quickly they are changing.
Revenue
Revenue reported for each complete financial period.
USD 926.2M 2025
Values and sources
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2016 | Revenue | 533647000 |
|
| 2017 | Revenue | 584933000 |
|
| 2018 | Revenue | 622661000 |
|
| 2019 | Revenue | 670487000 |
|
| 2020 | Revenue | 660681000 |
|
| 2021 | Revenue | 726407000 |
|
| 2022 | Revenue | 773053000 |
|
| 2023 | Revenue | 828111000 |
|
| 2024 | Revenue | 869266000 |
|
| 2025 | Revenue | 926213000 |
|
Revenue growth
Change in revenue from the same financial period one year earlier.
6.6% 2025
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016 | Year over year | 10.5% |
|
| 2017 | Year over year | 9.6% |
|
| 2018 | Year over year | 6.4% |
|
| 2019 | Year over year | 7.7% |
|
| 2020 | Year over year | -1.5% |
|
| 2021 | Year over year | 9.9% |
|
| 2022 | Year over year | 6.4% |
|
| 2023 | Year over year | 7.1% |
|
| 2024 | Year over year | 5% |
|
| 2025 | Year over year | 6.6% |
|
Profit and cash
How much revenue becomes profit, and how much cash operations generate.
Profit margins
Operating income, net income and free cash flow as a share of revenue.
Operating margin 63.6% 2025
Net margin 42.1% 2025
- Operating margin
- Net margin
- Free cash flow margin
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016 | Operating margin | 63% |
|
| 2017 | Operating margin | 64% |
|
| 2018 | Operating margin | 68.2% |
|
| 2019 | Operating margin | 62.1% |
|
| 2020 | Operating margin | 56.7% |
|
| 2021 | Operating margin | 61.8% |
|
| 2022 | Operating margin | 62.4% |
|
| 2023 | Operating margin | 67% |
|
| 2024 | Operating margin | 66.5% |
|
| 2025 | Operating margin | 63.6% |
|
| 2016 | Net margin | 44.9% |
|
| 2017 | Net margin | 45.3% |
|
| 2018 | Net margin | 47% |
|
| 2019 | Net margin | 44.6% |
|
| 2020 | Net margin | 34.6% |
|
| 2021 | Net margin | 39.9% |
|
| 2022 | Net margin | 43.3% |
|
| 2023 | Net margin | 47.4% |
|
| 2024 | Net margin | 45.7% |
|
| 2025 | Net margin | 42.1% |
|
| 2016 | Free cash flow margin | Not reported |
|
| 2017 | Free cash flow margin | Not reported |
|
| 2018 | Free cash flow margin | Not reported |
|
| 2019 | Free cash flow margin | Not reported |
|
| 2020 | Free cash flow margin | Not reported |
|
| 2021 | Free cash flow margin | Not reported |
|
| 2022 | Free cash flow margin | Not reported |
|
| 2023 | Free cash flow margin | Not reported |
|
| 2024 | Free cash flow margin | Not reported |
|
| 2025 | Free cash flow margin | Not reported |
|
Operating cash flow
Cash generated by the company’s normal business operations.
USD 667.1M 2025
Values and sources
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2016 | Operating cash flow | 415337000 |
|
| 2017 | Operating cash flow | 421557000 |
|
| 2018 | Operating cash flow | 471909000 |
|
| 2019 | Operating cash flow | 501727000 |
|
| 2020 | Operating cash flow | 450194000 |
|
| 2021 | Operating cash flow | 568425000 |
|
| 2022 | Operating cash flow | 578355000 |
|
| 2023 | Operating cash flow | 612410000 |
|
| 2024 | Operating cash flow | 635504000 |
|
| 2025 | Operating cash flow | 667131000 |
|
Free cash flow
Operating cash flow minus capital expenditure for the same period and unit.
Not enough comparable data to show this history.
Values and sources
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2016 | Free cash flow | Unavailable |
|
| 2017 | Free cash flow | Unavailable |
|
| 2018 | Free cash flow | Unavailable |
|
| 2019 | Free cash flow | Unavailable |
|
| 2020 | Free cash flow | Unavailable |
|
| 2021 | Free cash flow | Unavailable |
|
| 2022 | Free cash flow | Unavailable |
|
| 2023 | Free cash flow | Unavailable |
|
| 2024 | Free cash flow | Unavailable |
|
| 2025 | Free cash flow | Unavailable |
|
Balance sheet
Liabilities and short-term ability to meet obligations at each period end.
Liabilities to assets
Total liabilities as a share of total assets.
53% 2025
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016 | Liabilities / assets | 38.2% |
|
| 2017 | Liabilities / assets | 41.5% |
|
| 2018 | Liabilities / assets | 41.5% |
|
| 2019 | Liabilities / assets | 41.7% |
|
| 2020 | Liabilities / assets | 43.4% |
|
| 2021 | Liabilities / assets | 49.7% |
|
| 2022 | Liabilities / assets | 49.4% |
|
| 2023 | Liabilities / assets | 52% |
|
| 2024 | Liabilities / assets | 50.8% |
|
| 2025 | Liabilities / assets | 53% |
|
Current assets to current liabilities
Current assets divided by current liabilities.
Not enough comparable data to show this history.
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016-12-31 | Current assets / current liabilities | Not reported | No source recorded |
| 2017-12-31 | Current assets / current liabilities | Not reported | No source recorded |
| 2018-12-31 | Current assets / current liabilities | Not reported | No source recorded |
| 2019-12-31 | Current assets / current liabilities | Not reported | No source recorded |
| 2020-12-31 | Current assets / current liabilities | Not reported | No source recorded |
| 2021-12-31 | Current assets / current liabilities | Not reported | No source recorded |
| 2022-12-31 | Current assets / current liabilities | Not reported | No source recorded |
| 2023-12-31 | Current assets / current liabilities | Not reported | No source recorded |
| 2024-12-31 | Current assets / current liabilities | Not reported | No source recorded |
| 2025-12-31 | Current assets / current liabilities | Not reported | No source recorded |
Cash generation
Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.
| Period | Net income | Operating cash flow | Capital expenditure | Free cash flow |
|---|---|---|---|---|
| 2016 2016-01-01 – 2016-12-31 | USD 239.5 million Exact valueExact value: 239500000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 415.34 million Exact valueExact value: 415337000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2017 2017-01-01 – 2017-12-31 | USD 264.97 million Exact valueExact value: 264973000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 421.56 million Exact valueExact value: 421557000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2018 2018-01-01 – 2018-12-31 | USD 292.45 million Exact valueExact value: 292447000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 471.91 million Exact valueExact value: 471909000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2019 2019-01-01 – 2019-12-31 | USD 299.18 million Exact valueExact value: 299180000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 501.73 million Exact valueExact value: 501727000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2020 2020-01-01 – 2020-12-31 | USD 228.8 million Exact valueExact value: 228799000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 450.19 million Exact valueExact value: 450194000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2021 2021-01-01 – 2021-12-31 | USD 290.11 million Exact valueExact value: 290113000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 568.43 million Exact valueExact value: 568425000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2022 2022-01-01 – 2022-12-31 | USD 334.63 million Exact valueExact value: 334626000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 578.36 million Exact valueExact value: 578355000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2023 2023-01-01 – 2023-12-31 | USD 392.34 million Exact valueExact value: 392340000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 612.41 million Exact valueExact value: 612410000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2024 2024-01-01 – 2024-12-31 | USD 396.84 million Exact valueExact value: 396835000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 635.5 million Exact valueExact value: 635504000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2025 2025-01-01 – 2025-12-31 | USD 389.78 million Exact valueExact value: 389777000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 667.13 million Exact valueExact value: 667131000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.
Dataset coverage and company identifiers
Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.
145 filings · 4,298 latest values · 4,298 originally reported values
Dataset published . Source filing dates and reporting periods are shown separately.
Identifiers: 0000751364, 751364, NNN, edgar:751364, nnn
Also known as COMMERCIAL NET LEASE REALTY INC, NATIONAL RETAIL PROPERTIES, INC, NATIONAL RETAIL PROPERTIES, INC., NNN REIT, INC, NNN REIT, INC.