NETSTREIT (NTST) Financials

$18.20 -0.16 (-0.84%)

Closing price 03:59 PM Eastern

Extended Trading

$18.20 +0.01 (+0.05%)

As of 04:20 PM Eastern

Annual Income Statements for NETSTREIT

This table shows NETSTREIT's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024
Period end date	12/22/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-8.07	0.69	3.05	8.12	6.84	-12
Consolidated Net Income / (Loss)	-8.07	0.21	3.15	8.21	6.89	-12
Net Income / (Loss) Continuing Operations	-8.07	0.21	3.15	8.21	6.89	-12
Total Pre-Tax Income	-8.07	0.21	3.21	8.60	6.84	-12
Total Operating Income	-2.95	-1.50	3.48	14	24	18
Total Gross Profit	20	34	53	96	132	163
Total Revenue	20	34	59	96	132	163
Operating Revenue	20	34	59	96	132	163
Total Cost of Revenue	0.00	0.00	5.80	0.00	0.00	0.00
Total Operating Expenses	23	35	50	83	108	144
Selling, General & Admin Expense	3.56	11	15	19	20	20
Depreciation Expense	10	15	31	50	64	77
Other Operating Expenses / (Income)	1.65	5.74	0.70	13	17	18
Impairment Charge	7.19	2.69	3.54	1.11	7.08	30
Total Other Income / (Expense), net	-5.07	1.71	-0.27	-4.90	-17	-30
Interest Expense	11	4.74	3.70	9.18	19	30
Other Income / (Expense), net	5.65	6.45	3.43	4.28	1.93	-0.07
Income Tax Expense	0.00	0.00	0.06	0.40	-0.05	0.05
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	-0.52	0.10	0.09	0.05	-0.06
Basic Earnings per Share	$0.00	$0.04	$0.08	$0.16	$0.11	($0.16)
Weighted Average Basic Shares Outstanding	0.00	17.32M	37.00M	49.52M	63.92M	76.52M
Diluted Earnings per Share	$0.00	$0.01	$0.08	$0.16	$0.11	($0.16)
Weighted Average Diluted Shares Outstanding	0.00	21.16M	38.67M	50.43M	64.67M	76.52M
Weighted Average Basic & Diluted Shares Outstanding	-	28.39M	44.24M	58.03M	73.22M	81.66M
Cash Dividends to Common per Share	-	$0.30	$0.80	$0.80	$0.81	$0.83

This table shows NETSTREIT's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	2.79	1.47	-0.79	4.22	1.94	1.05	-2.29	-5.30	-5.40	1.69	3.27
Consolidated Net Income / (Loss)	2.81	1.48	-0.79	4.24	1.96	1.05	-2.31	-5.32	-5.42	1.70	3.29
Net Income / (Loss) Continuing Operations	2.81	1.48	-0.79	4.24	1.96	1.05	-2.31	-5.32	-5.42	1.70	3.29
Total Pre-Tax Income	2.85	1.44	-0.82	4.25	1.97	1.07	-2.29	-5.32	-5.41	1.72	3.30
Total Operating Income	4.24	5.55	4.14	7.46	6.95	6.53	7.89	2.36	1.66	11	12
Total Gross Profit	27	26	32	34	41	38	40	41	48	46	48
Total Revenue	27	29	32	34	37	38	40	41	44	46	48
Operating Revenue	27	29	32	34	37	38	40	41	44	46	48
Total Cost of Revenue	-	3.94	0.00	0.00	-3.94	0.00	0.00	0.00	-4.10	0.00	0.00
Total Operating Expenses	23	20	27	27	34	31	32	39	47	35	36
Selling, General & Admin Expense	5.45	4.91	5.26	5.13	4.87	5.71	5.27	4.29	4.46	5.17	5.48
Depreciation Expense	14	15	16	16	17	18	19	20	20	21	22
Other Operating Expenses / (Income)	3.67	0.11	3.55	4.03	9.19	4.23	4.03	4.52	9.10	4.85	4.56
Impairment Charge	-	0.00	2.84	1.54	2.71	3.66	3.84	9.84	13	3.62	4.42
Total Other Income / (Expense), net	-1.39	-4.11	-4.97	-3.21	-4.98	-5.46	-10	-7.68	-7.06	-9.64	-9.02
Interest Expense	3.47	3.94	5.65	3.95	5.65	6.18	7.60	7.97	8.58	11	13
Other Income / (Expense), net	2.08	-0.17	0.68	0.74	0.67	0.72	-2.58	0.28	1.51	1.82	3.61
Income Tax Expense	0.04	-0.04	-0.03	0.02	0.01	0.02	0.01	0.00	0.02	0.02	0.01
Net Income / (Loss) Attributable to Noncontrolling Interest	0.03	0.01	-0.00	0.02	0.02	0.01	-0.02	-0.03	-0.03	0.01	0.02
Basic Earnings per Share	$0.05	$0.03	($0.01)	$0.06	$0.03	$0.01	($0.03)	($0.07)	($0.07)	$0.02	$0.04
Weighted Average Basic Shares Outstanding	49.52M	58.16M	61.04M	67.11M	63.92M	73.25M	73.59M	77.61M	76.52M	81.64M	81.90M
Diluted Earnings per Share	$0.05	$0.03	($0.01)	$0.06	$0.03	$0.01	($0.03)	($0.07)	($0.07)	$0.02	$0.04
Weighted Average Diluted Shares Outstanding	50.43M	58.88M	61.04M	68.05M	64.67M	74.57M	73.59M	77.61M	76.52M	82.13M	82.49M
Weighted Average Basic & Diluted Shares Outstanding	58.03M	60.86M	66.99M	68.70M	73.22M	73.37M	77.38M	81.58M	81.66M	81.71M	83.47M

This table details how cash moves in and out of NETSTREIT's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024
Period end date	12/22/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-0.39	-77	-85	63	-41	-16
Net Cash From Operating Activities	5.99	13	31	51	80	90
Net Cash From Continuing Operating Activities	5.99	13	31	51	80	90
Net Income / (Loss) Continuing Operations	-8.07	0.21	3.15	8.21	6.89	-12
Consolidated Net Income / (Loss)	-8.07	0.21	3.15	8.21	6.89	-12
Depreciation Expense	10	15	31	50	64	77
Amortization Expense	1.01	0.62	0.63	0.89	-0.28	-1.45
Non-Cash Adjustments To Reconcile Net Income	3.14	-7.86	-3.78	-3.55	7.41	29
Changes in Operating Assets and Liabilities, net	-0.51	1.86	0.68	-4.98	2.46	-2.15
Net Cash From Investing Activities	76	-362	-430	-468	-452	-433
Net Cash From Continuing Investing Activities	76	-362	-430	-468	-452	-433
Purchase of Property, Plant & Equipment	0.00	-0.05	-0.73	-1.21	-0.04	-0.01
Purchase of Investments	-1.23	-409	-441	-425	-340	-479
Sale of Property, Plant & Equipment	-	-	31	26	38	91
Other Investing Activities, net	-0.45	-1.57	-19	-68	-150	-45
Net Cash From Financing Activities	-82	273	314	481	331	327
Net Cash From Continuing Financing Activities	-82	273	314	481	331	327
Repayment of Debt	-78	-50	-86	-470	-397	-233
Repurchase of Common Equity	0.00	-0.14	-0.50	-1.48	-0.69	-1.50
Payment of Dividends	-5.62	-8.84	-31	-40	-52	-64
Issuance of Debt	0.71	50	150	715	511	492
Issuance of Common Equity	0.00	282	283	278	271	135
Other Financing Activities, net	0.54	-0.01	-1.73	-0.80	-1.03	-1.89
Cash Interest Paid	9.46	4.21	2.99	7.22	18	30
Cash Income Taxes Paid	-	-	0.00	0.13	0.63	-0.03

This table details how cash moves in and out of NETSTREIT's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	54	-64	6.54	-5.21	22	-7.60	-8.61	15	-14	-0.12	5.54
Net Cash From Operating Activities	12	15	20	17	29	12	25	25	28	22	31
Net Cash From Continuing Operating Activities	12	15	20	17	29	12	25	25	28	22	31
Net Income / (Loss) Continuing Operations	2.81	1.48	-0.79	4.24	1.96	1.05	-2.31	-5.32	-5.42	1.70	3.29
Consolidated Net Income / (Loss)	2.81	1.48	-0.79	4.24	1.96	1.05	-2.31	-5.32	-5.42	1.70	3.29
Depreciation Expense	14	15	16	16	17	18	19	20	20	21	22
Amortization Expense	0.34	0.34	0.34	-0.56	-0.40	-0.39	-0.39	-0.40	-0.26	1.40	1.49
Non-Cash Adjustments To Reconcile Net Income	-3.13	0.33	2.51	1.90	2.67	4.25	5.20	9.91	9.52	1.75	1.35
Changes in Operating Assets and Liabilities, net	-2.01	-2.29	1.69	-4.28	7.33	-11	4.32	0.49	3.85	-3.68	3.01
Net Cash From Investing Activities	-87	-102	-124	-119	-106	-97	-107	-115	-113	-48	-48
Net Cash From Continuing Investing Activities	-87	-102	-124	-119	-106	-97	-107	-115	-113	-48	-48
Purchase of Property, Plant & Equipment	15	0.00	-19	-28	48	-0.01	-30	-7.31	37	-0.01	-3.50
Purchase of Investments	-96	-68	-96	-91	-86	-95	-96	-112	-177	-77	-97
Sale of Property, Plant & Equipment	12	15	3.84	5.43	14	20	12	10	48	39	47
Other Investing Activities, net	-18	-50	-12	-5.56	-82	-23	6.81	-6.91	-22	-9.39	4.46
Net Cash From Financing Activities	130	24	111	97	100	78	73	105	71	26	23
Net Cash From Continuing Financing Activities	130	24	111	97	100	78	73	105	71	26	23
Repayment of Debt	-67	-116	-113	-133	-35	-87	-85	-9.04	-52	-264	-41
Repurchase of Common Equity	0.29	-0.38	-0.18	-0.28	0.14	-1.49	-0.35	-0.35	0.70	-0.63	-0.25
Payment of Dividends	-11	-12	-12	-14	-14	-15	-15	-16	-17	-17	-17
Issuance of Debt	150	99	122	217	73	182	108	61	141	308	54
Other Financing Activities, net	-1.26	-0.09	-0.00	-0.06	-0.88	-0.38	-0.06	-0.05	-1.40	-0.20	-0.02
Cash Interest Paid	2.87	3.64	4.40	4.73	5.56	6.54	6.90	9.34	7.52	10	11

This table presents NETSTREIT's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	434	726	1,068	1,606	1,946	2,259
Total Current Assets	8.53	15	2.10	23	52	49
Inventories, net	-	15	2.10	23	52	49
Plant, Property, & Equipment, net	224	538	914	1,263	1,539	1,834
Plant, Property & Equipment, gross	224	548	944	1,325	1,640	1,978
Accumulated Depreciation	0.13	10	31	63	101	143
Total Noncurrent Assets	201	173	153	320	355	376
Noncurrent Note & Lease Receivables	-	-	0.00	46	114	139
Intangible Assets	29	75	125	151	161	164
Other Noncurrent Operating Assets	173	98	28	123	79	73
Total Liabilities & Shareholders' Equity	434	726	1,068	1,606	1,946	2,259
Total Liabilities	181	198	279	547	673	921
Total Current Liabilities	2.91	6.31	17	23	36	30
Accounts Payable	2.72	6.31	17	23	36	30
Total Noncurrent Liabilities	179	191	262	525	636	892
Long-Term Debt	174	174	238	494	610	869
Other Noncurrent Operating Liabilities	4.67	17	23	30	25	20
Other Noncurrent Nonoperating Liabilities	-	0.40	0.00	0.41	1.16	1.91
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	252	528	790	1,058	1,273	1,338
Total Preferred & Common Equity	165	494	779	1,049	1,265	1,331
Total Common Equity	165	494	779	1,049	1,265	1,331
Common Stock	165	501	810	1,092	1,368	1,509
Retained Earnings	0.03	-7.46	-35	-67	-112	-188
Accumulated Other Comprehensive Income / (Loss)	0.00	0.24	4.12	24	8.94	10
Noncontrolling Interest	88	34	11	9.59	8.53	7.16

This table presents NETSTREIT's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2022	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025
Period end date	6/30/2022	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025
Total Assets	1,370	1,474	1,627	1,748	1,863	2,026	2,098	2,185	2,285	2,312
Total Current Assets	2.48	40	5.80	38	39	59	68	46	80	58
Inventories, net	2.48	24	5.80	38	39	59	68	46	80	58
Plant, Property, & Equipment, net	1,089	1,184	1,318	1,374	1,474	1,593	1,660	1,744	1,827	1,872
Plant, Property & Equipment, gross	1,134	1,237	1,391	1,455	1,565	1,703	1,782	1,881	1,980	2,037
Accumulated Depreciation	45	53	73	81	91	111	122	137	153	166
Total Noncurrent Assets	278	250	303	335	350	374	370	395	378	382
Noncurrent Note & Lease Receivables	46	46	92	108	109	125	130	142	145	153
Intangible Assets	140	149	154	158	164	166	162	165	159	155
Other Noncurrent Operating Assets	92	54	57	70	77	84	78	88	75	75
Total Liabilities & Shareholders' Equity	1,370	1,474	1,627	1,748	1,863	2,026	2,098	2,185	2,285	2,312
Total Liabilities	460	464	532	543	633	756	780	838	972	988
Total Current Liabilities	20	21	121	135	76	26	27	34	32	37
Accounts Payable	20	21	25	29	34	26	27	34	32	37
Total Noncurrent Liabilities	440	443	411	408	557	730	753	804	939	951
Long-Term Debt	411	411	381	381	530	704	728	780	918	931
Other Noncurrent Operating Liabilities	28	31	29	27	27	25	24	23	19	18
Other Noncurrent Nonoperating Liabilities	-	0.42	0.03	0.08	1.02	1.11	1.14	0.73	1.92	1.82
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	910	1,009	1,096	1,205	1,230	1,269	1,318	1,347	1,314	1,324
Total Preferred & Common Equity	900	1,000	1,086	1,195	1,221	1,261	1,310	1,340	1,306	1,317
Total Common Equity	900	999	1,086	1,195	1,221	1,261	1,310	1,340	1,306	1,317
Common Stock	939	1,033	1,146	1,262	1,290	1,369	1,436	1,508	1,510	1,539
Retained Earnings	-50	-59	-77	-90	-100	-126	-144	-165	-204	-218
Accumulated Other Comprehensive Income / (Loss)	12	25	18	24	30	18	18	-2.45	0.39	-5.22
Noncontrolling Interest	9.67	9.71	9.35	9.29	8.91	8.36	7.65	7.21	7.03	6.93

This table displays calculated financial ratios and metrics derived from NETSTREIT's official financial filings.

Metric	2019	2020	2021	2022	2023	2024
Period end date	12/22/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	69.82%	75.35%	62.80%	37.00%	23.41%
EBITDA Growth	0.00%	48.87%	82.30%	79.30%	30.08%	4.89%
EBIT Growth	0.00%	83.78%	39.49%	157.37%	46.37%	-29.41%
NOPAT Growth	0.00%	27.39%	327.80%	276.98%	88.43%	-46.82%
Net Income Growth	0.00%	102.63%	1,385.85%	160.48%	-16.03%	-274.17%
EPS Growth	0.00%	0.00%	700.00%	100.00%	-31.25%	-245.45%
Operating Cash Flow Growth	0.00%	0.00%	0.00%	60.90%	58.26%	12.49%
Free Cash Flow Firm Growth	0.00%	0.00%	-12.61%	-58.93%	40.02%	-1.67%
Invested Capital Growth	0.00%	68.08%	46.34%	51.05%	21.34%	17.25%
Revenue Q/Q Growth	0.00%	0.00%	7.32%	13.99%	7.82%	4.65%
EBITDA Q/Q Growth	0.00%	0.00%	-0.59%	16.88%	4.32%	-1.10%
EBIT Q/Q Growth	0.00%	0.00%	-40.22%	45.22%	5.24%	-19.50%
NOPAT Q/Q Growth	0.00%	0.00%	-13.22%	48.91%	13.18%	-22.29%
Net Income Q/Q Growth	0.00%	0.00%	-43.40%	9.55%	-10.96%	-160.08%
EPS Q/Q Growth	0.00%	0.00%	-70.37%	-5.88%	-15.38%	-166.67%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	-0.65%	26.32%	-0.67%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	-2.41%	18.36%	-1.00%
Invested Capital Q/Q Growth	0.00%	0.00%	14.72%	10.55%	4.55%	3.82%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	90.19%	100.00%	100.00%	100.00%
EBITDA Margin	71.14%	62.36%	64.83%	71.41%	67.79%	57.62%
Operating Margin	-14.86%	-4.45%	5.89%	14.02%	18.27%	11.33%
EBIT Margin	13.57%	14.69%	11.68%	18.47%	19.73%	11.29%
Profit (Net Income) Margin	-40.64%	0.63%	5.33%	8.52%	5.22%	-7.37%
Tax Burden Percent	100.00%	100.00%	98.16%	95.40%	100.72%	100.41%
Interest Burden Percent	-299.52%	4.28%	46.45%	48.37%	26.28%	-65.05%
Effective Tax Rate	0.00%	0.00%	1.84%	4.60%	-0.72%	0.00%
Return on Invested Capital (ROIC)	-0.49%	-0.27%	0.39%	1.00%	1.41%	0.63%
ROIC Less NNEP Spread (ROIC-NNEP)	-4.12%	0.74%	0.27%	-0.28%	-1.73%	-2.73%
Return on Net Nonoperating Assets (RNNOA)	-2.70%	0.32%	0.08%	-0.11%	-0.82%	-1.55%
Return on Equity (ROE)	-3.20%	0.05%	0.48%	0.89%	0.59%	-0.92%
Cash Return on Invested Capital (CROIC)	0.00%	-51.06%	-37.23%	-39.67%	-17.87%	-15.25%
Operating Return on Assets (OROA)	0.62%	0.85%	0.77%	1.33%	1.47%	0.87%
Return on Assets (ROA)	-1.86%	0.04%	0.35%	0.61%	0.39%	-0.57%
Return on Common Equity (ROCE)	-2.08%	0.05%	0.46%	0.88%	0.59%	-0.91%
Return on Equity Simple (ROE_SIMPLE)	-4.91%	0.04%	0.40%	0.78%	0.54%	-0.90%
Net Operating Profit after Tax (NOPAT)	-2.07	-1.50	3.42	13	24	13
NOPAT Margin	-10.40%	-4.45%	5.78%	13.38%	18.40%	7.93%
Net Nonoperating Expense Percent (NNEP)	3.63%	-1.01%	0.13%	1.28%	3.14%	3.36%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	0.83%	1.29%	0.58%
Cost of Revenue to Revenue	0.00%	0.00%	9.81%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	17.90%	33.62%	25.04%	19.79%	15.30%	12.12%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	114.86%	104.45%	84.30%	85.98%	81.73%	88.67%
Earnings before Interest and Taxes (EBIT)	2.70	4.95	6.91	18	26	18
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	14	21	38	69	89	94
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	1.37	0.95	1.04	0.87	0.92	0.87
Price to Tangible Book Value (P/TBV)	1.66	1.12	1.24	1.02	1.06	0.99
Price to Revenue (P/Rev)	11.33	13.95	13.74	9.48	8.85	7.09
Price to Earnings (P/E)	0.00	683.94	266.75	112.45	170.70	0.00
Dividend Yield	0.00%	1.78%	3.90%	4.81%	4.77%	5.87%
Earnings Yield	0.00%	0.15%	0.37%	0.89%	0.59%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.16	0.97	1.03	0.91	0.95	0.92
Enterprise Value to Revenue (EV/Rev)	24.51	20.12	17.95	14.71	13.54	12.48
Enterprise Value to EBITDA (EV/EBITDA)	34.46	32.27	27.68	20.61	19.97	21.65
Enterprise Value to EBIT (EV/EBIT)	180.64	137.01	153.64	79.66	68.60	110.54
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	310.65	109.97	73.56	157.34
Enterprise Value to Operating Cash Flow (EV/OCF)	81.28	0.00	33.72	27.97	22.27	22.53
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	0.69	0.33	0.30	0.47	0.48	0.65
Long-Term Debt to Equity	0.69	0.33	0.30	0.47	0.48	0.65
Financial Leverage	0.66	0.44	0.31	0.40	0.47	0.57
Leverage Ratio	1.72	1.49	1.36	1.45	1.52	1.61
Compound Leverage Factor	-5.15	0.06	0.63	0.70	0.40	-1.05
Debt to Total Capital	40.79%	24.80%	23.18%	31.83%	32.38%	39.39%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	40.79%	24.80%	23.18%	31.83%	32.38%	39.39%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	20.62%	4.84%	1.04%	0.62%	0.45%	0.32%
Common Equity to Total Capital	38.59%	70.33%	75.78%	67.55%	67.17%	60.29%
Debt to EBITDA	12.31	8.28	6.22	7.19	6.82	9.27
Net Debt to EBITDA	12.31	8.28	6.22	7.19	6.82	9.27
Long-Term Debt to EBITDA	12.31	8.28	6.22	7.19	6.82	9.27
Debt to NOPAT	-84.19	-116.07	69.75	38.37	25.12	67.35
Net Debt to NOPAT	-84.19	-116.07	69.75	38.37	25.12	67.35
Long-Term Debt to NOPAT	-84.19	-116.07	69.75	38.37	25.12	67.35
Altman Z-Score	0.83	1.50	1.76	1.04	1.08	0.74
Noncontrolling Interest Sharing Ratio	34.82%	15.65%	3.41%	1.10%	0.78%	0.60%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	2.94	2.35	0.12	1.03	1.44	1.64
Quick Ratio	0.00	0.00	0.00	0.00	0.00	0.00
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-286	-322	-512	-307	-312
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	-60.34	-87.07	-55.77	-16.01	-10.30
Operating Cash Flow to Interest Expense	0.56	0.00	8.51	5.52	4.18	2.97
Operating Cash Flow Less CapEx to Interest Expense	0.56	0.00	16.72	8.16	6.18	5.97
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.05	0.06	0.07	0.07	0.07	0.08
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.69	0.00	0.00	0.00
Fixed Asset Turnover	0.09	0.09	0.08	0.09	0.09	0.10
Accounts Payable Turnover	0.00	0.00	0.50	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	531.43	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	732.39	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	-200.96	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	418	703	1,028	1,553	1,884	2,210
Invested Capital Turnover	0.05	0.06	0.07	0.07	0.08	0.08
Increase / (Decrease) in Invested Capital	0.00	285	326	525	331	325
Enterprise Value (EV)	487	679	1,061	1,417	1,785	2,031
Market Capitalization	225	471	813	913	1,167	1,154
Book Value per Share	$13.16	$17.65	$19.66	$19.11	$18.41	$16.31
Tangible Book Value per Share	$10.86	$14.97	$16.51	$16.36	$16.06	$14.30
Total Capital	426	702	1,028	1,553	1,883	2,208
Total Debt	174	174	238	494	610	869
Total Long-Term Debt	174	174	238	494	610	869
Net Debt	174	174	238	494	610	869
Capital Expenditures (CapEx)	0.00	0.05	-30	-24	-38	-91
Debt-free, Cash-free Net Working Capital (DFCFNWC)	5.63	8.49	-15	0.67	16	19
Debt-free Net Working Capital (DFNWC)	5.63	8.49	-15	0.67	16	19
Net Working Capital (NWC)	5.63	8.49	-15	0.67	16	19
Net Nonoperating Expense (NNE)	6.01	-1.71	0.27	4.68	17	25
Net Nonoperating Obligations (NNO)	166	175	238	495	611	871
Total Depreciation and Amortization (D&A)	11	16	31	51	63	75
Debt-free, Cash-free Net Working Capital to Revenue	28.33%	25.18%	-25.17%	0.69%	12.09%	11.66%
Debt-free Net Working Capital to Revenue	28.33%	25.18%	-25.17%	0.69%	12.09%	11.66%
Net Working Capital to Revenue	28.33%	25.18%	-25.17%	0.69%	12.09%	11.66%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.04	$0.08	$0.16	$0.11	($0.16)
Adjusted Weighted Average Basic Shares Outstanding	0.00	17.32M	37.00M	49.52M	63.92M	76.52M
Adjusted Diluted Earnings per Share	$0.00	$0.01	$0.08	$0.16	$0.11	($0.16)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	21.16M	38.67M	50.43M	64.67M	76.52M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	28.39M	44.24M	58.03M	73.22M	81.66M
Normalized Net Operating Profit after Tax (NOPAT)	2.96	0.83	6.89	14	22	34
Normalized NOPAT Margin	14.93%	2.47%	11.65%	14.48%	16.55%	20.82%
Pre Tax Income Margin	-40.64%	0.63%	5.43%	8.93%	5.19%	-7.34%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	0.25	1.04	1.87	1.94	1.36	0.61
NOPAT to Interest Expense	-0.19	-0.32	0.92	1.40	1.27	0.43
EBIT Less CapEx to Interest Expense	0.25	1.03	10.08	4.58	3.36	3.60
NOPAT Less CapEx to Interest Expense	-0.19	-0.33	9.14	4.05	3.27	3.42
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	-69.67%	4,170.75%	993.78%	486.92%	755.91%	-531.88%
Augmented Payout Ratio	-69.67%	4,235.38%	1,009.78%	504.94%	765.89%	-544.37%

This table displays calculated financial ratios and metrics derived from NETSTREIT's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	76.31%	38.06%	39.75%	35.77%	35.03%	27.91%	25.09%	22.03%	19.64%	21.86%	22.04%
EBITDA Growth	93.03%	43.90%	35.24%	28.47%	17.97%	18.05%	11.68%	-3.28%	-4.28%	45.49%	65.95%
EBIT Growth	703.56%	66.83%	33.10%	77.99%	20.49%	34.69%	10.05%	-67.74%	-58.41%	81.76%	200.19%
NOPAT Growth	2,322.19%	95.09%	75.25%	86.59%	65.24%	12.48%	90.49%	-77.77%	-83.20%	74.95%	122.30%
Net Income Growth	34.13%	-24.67%	-139.40%	198.73%	-30.18%	-28.97%	-191.16%	-225.55%	-376.45%	61.60%	242.63%
EPS Growth	-16.67%	-25.00%	-125.00%	100.00%	-40.00%	-66.67%	-200.00%	-216.67%	-333.33%	100.00%	233.33%
Operating Cash Flow Growth	-2.70%	65.36%	47.33%	4.02%	139.87%	-21.31%	29.50%	46.70%	-2.12%	89.61%	20.77%
Free Cash Flow Firm Growth	-59.84%	8.09%	15.73%	22.68%	37.69%	3.06%	4.66%	16.94%	0.15%	37.40%	43.66%
Invested Capital Growth	51.05%	35.65%	28.00%	28.30%	21.34%	25.54%	21.02%	18.07%	17.25%	13.10%	10.23%
Revenue Q/Q Growth	9.14%	7.88%	7.40%	7.37%	8.54%	2.20%	5.03%	4.74%	6.41%	4.10%	5.18%
EBITDA Q/Q Growth	12.86%	0.33%	1.64%	11.63%	3.63%	0.40%	-3.85%	-3.32%	2.57%	52.60%	9.67%
EBIT Q/Q Growth	37.27%	-14.90%	-10.35%	69.95%	-7.07%	-4.87%	-26.75%	-50.19%	19.81%	315.78%	20.98%
NOPAT Q/Q Growth	4.97%	36.66%	-49.27%	156.39%	-7.04%	-6.98%	-14.08%	-70.08%	-29.78%	868.99%	9.17%
Net Income Q/Q Growth	98.03%	-47.30%	-153.48%	635.23%	-53.72%	-46.38%	-319.20%	-130.79%	-1.92%	131.34%	93.47%
EPS Q/Q Growth	66.67%	-40.00%	-133.33%	700.00%	-50.00%	-66.67%	-400.00%	-133.33%	0.00%	128.57%	100.00%
Operating Cash Flow Q/Q Growth	-27.44%	23.99%	32.30%	-12.62%	67.34%	-59.32%	117.72%	-1.01%	11.65%	-21.20%	38.68%
Free Cash Flow Firm Q/Q Growth	-3.18%	21.70%	9.97%	-6.30%	16.84%	-21.82%	11.46%	7.39%	0.04%	23.62%	20.32%
Invested Capital Q/Q Growth	10.55%	1.28%	7.52%	6.57%	4.55%	4.79%	3.65%	3.98%	3.82%	1.08%	1.02%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	86.64%	100.00%	100.00%	110.68%	100.00%	100.00%	100.00%	109.30%	100.00%	100.00%
EBITDA Margin	75.46%	70.18%	66.41%	69.05%	65.92%	64.76%	59.29%	54.72%	52.75%	77.32%	80.63%
Operating Margin	15.54%	18.84%	13.10%	21.97%	18.85%	17.34%	19.94%	5.70%	3.76%	24.73%	25.53%
EBIT Margin	23.16%	18.27%	15.25%	24.15%	20.67%	19.24%	13.42%	6.38%	7.19%	28.70%	33.01%
Profit (Net Income) Margin	10.29%	5.03%	-2.50%	12.48%	5.32%	2.79%	-5.83%	-12.84%	-12.30%	3.70%	6.81%
Tax Burden Percent	98.56%	102.99%	96.12%	99.65%	99.44%	98.41%	100.52%	100.04%	100.33%	99.07%	99.61%
Interest Burden Percent	45.08%	26.72%	-17.08%	51.88%	25.89%	14.75%	-43.20%	-201.13%	-170.59%	13.02%	20.72%
Effective Tax Rate	1.44%	-2.99%	0.00%	0.35%	0.56%	1.59%	0.00%	0.00%	0.00%	0.93%	0.39%
Return on Invested Capital (ROIC)	1.14%	1.48%	0.69%	1.67%	1.44%	1.35%	1.11%	0.32%	0.21%	1.99%	2.12%
ROIC Less NNEP Spread (ROIC-NNEP)	0.77%	0.39%	-0.13%	1.01%	0.54%	0.44%	-0.18%	-0.72%	-0.68%	0.82%	1.04%
Return on Net Nonoperating Assets (RNNOA)	0.30%	0.15%	-0.06%	0.44%	0.26%	0.22%	-0.09%	-0.38%	-0.39%	0.51%	0.66%
Return on Equity (ROE)	1.45%	1.63%	0.63%	2.11%	1.70%	1.57%	1.02%	-0.06%	-0.18%	2.50%	2.78%
Cash Return on Invested Capital (CROIC)	-39.67%	-29.13%	-23.37%	-23.46%	-17.87%	-21.23%	-17.49%	-15.73%	-15.25%	-11.52%	-8.83%
Operating Return on Assets (OROA)	1.67%	1.35%	1.11%	1.77%	1.54%	1.48%	1.03%	0.49%	0.56%	2.28%	2.69%
Return on Assets (ROA)	0.74%	0.37%	-0.18%	0.92%	0.40%	0.21%	-0.45%	-0.99%	-0.95%	0.29%	0.56%
Return on Common Equity (ROCE)	1.43%	1.62%	0.63%	2.09%	1.68%	1.56%	1.01%	-0.06%	-0.18%	2.49%	2.76%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.71%	0.41%	0.63%	0.00%	0.51%	0.38%	-0.34%	0.00%	-0.87%	-0.44%
Net Operating Profit after Tax (NOPAT)	4.18	5.71	2.90	7.43	6.91	6.43	5.52	1.65	1.16	11	12
NOPAT Margin	15.32%	19.40%	9.17%	21.89%	18.75%	17.06%	13.96%	3.99%	2.63%	24.50%	25.43%
Net Nonoperating Expense Percent (NNEP)	0.37%	1.10%	0.82%	0.66%	0.90%	0.91%	1.29%	1.03%	0.89%	1.17%	1.08%
Return On Investment Capital (ROIC_SIMPLE)	0.27%	-	-	-	0.37%	0.33%	-	-	0.05%	0.50%	0.54%
Cost of Revenue to Revenue	0.00%	13.36%	0.00%	0.00%	-10.68%	0.00%	0.00%	0.00%	-9.30%	0.00%	0.00%
SG&A Expenses to Revenue	19.95%	16.67%	16.63%	15.11%	13.22%	15.15%	13.31%	10.34%	10.11%	11.26%	11.34%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	84.46%	67.80%	86.90%	78.03%	91.83%	82.66%	80.06%	94.30%	105.54%	75.27%	74.47%
Earnings before Interest and Taxes (EBIT)	6.32	5.38	4.83	8.20	7.62	7.25	5.31	2.65	3.17	13	16
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	21	21	21	23	24	24	23	23	23	35	39
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.87	0.92	0.87	0.81	0.92	0.95	0.90	0.95	0.87	0.99	1.05
Price to Tangible Book Value (P/TBV)	1.02	1.07	1.00	0.94	1.06	1.09	1.03	1.09	0.99	1.13	1.19
Price to Revenue (P/Rev)	9.48	9.56	9.13	8.12	8.85	8.55	7.98	8.22	7.09	7.57	7.70
Price to Earnings (P/E)	112.45	130.54	212.63	129.27	170.70	186.97	240.57	0.00	0.00	0.00	0.00
Dividend Yield	4.81%	4.65%	4.70%	5.43%	4.77%	4.67%	5.09%	4.99%	5.87%	5.27%	4.96%
Earnings Yield	0.89%	0.77%	0.47%	0.77%	0.59%	0.53%	0.42%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.91	0.94	0.91	0.87	0.95	0.97	0.94	0.97	0.92	0.99	1.03
Enterprise Value to Revenue (EV/Rev)	14.71	14.22	13.50	12.86	13.54	13.64	12.94	13.28	12.48	12.98	12.91
Enterprise Value to EBITDA (EV/EBITDA)	20.61	19.79	19.01	18.35	19.97	20.52	20.05	21.79	21.65	21.16	19.28
Enterprise Value to EBIT (EV/EBIT)	79.66	74.48	72.44	63.62	68.60	68.52	67.54	90.53	110.54	91.33	66.45
Enterprise Value to NOPAT (EV/NOPAT)	109.97	96.04	85.54	73.36	73.56	76.32	67.22	124.39	157.34	136.30	119.72
Enterprise Value to Operating Cash Flow (EV/OCF)	27.97	26.28	24.38	24.80	22.27	24.82	23.15	22.76	22.53	22.06	21.92
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.47	0.44	0.40	0.46	0.48	0.56	0.55	0.58	0.65	0.70	0.70
Long-Term Debt to Equity	0.47	0.35	0.32	0.43	0.48	0.56	0.55	0.58	0.65	0.70	0.70
Financial Leverage	0.40	0.39	0.42	0.43	0.47	0.50	0.48	0.53	0.57	0.63	0.63
Leverage Ratio	1.45	1.44	1.47	1.49	1.52	1.54	1.52	1.57	1.61	1.67	1.67
Compound Leverage Factor	0.65	0.39	-0.25	0.77	0.39	0.23	-0.66	-3.16	-2.75	0.22	0.35
Debt to Total Capital	31.83%	30.35%	28.77%	31.73%	32.38%	35.69%	35.58%	36.67%	39.39%	41.13%	41.29%
Short-Term Debt to Total Capital	0.00%	6.10%	6.27%	2.33%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	31.83%	24.24%	22.50%	29.39%	32.38%	35.69%	35.58%	36.67%	39.39%	41.13%	41.29%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.62%	0.59%	0.55%	0.49%	0.45%	0.42%	0.37%	0.34%	0.32%	0.32%	0.31%
Common Equity to Total Capital	67.55%	69.06%	70.68%	67.78%	67.17%	63.89%	64.05%	62.99%	60.29%	58.55%	58.40%
Debt to EBITDA	7.19	6.36	6.04	6.67	6.82	7.56	7.61	8.23	9.27	8.75	7.73
Net Debt to EBITDA	7.19	6.36	6.04	6.67	6.82	7.56	7.61	8.23	9.27	8.75	7.73
Long-Term Debt to EBITDA	7.19	5.08	4.73	6.18	6.82	7.56	7.61	8.23	9.27	8.75	7.73
Debt to NOPAT	38.37	30.87	27.18	26.65	25.12	28.13	25.52	46.96	67.35	56.37	48.01
Net Debt to NOPAT	38.37	30.87	27.18	26.65	25.12	28.13	25.52	46.96	67.35	56.37	48.01
Long-Term Debt to NOPAT	38.37	24.66	21.26	24.69	25.12	28.13	25.52	46.96	67.35	56.37	48.01
Altman Z-Score	1.02	1.05	1.08	0.92	1.05	0.96	0.91	0.89	0.72	0.79	0.82
Noncontrolling Interest Sharing Ratio	1.10%	1.02%	0.90%	0.86%	0.78%	0.75%	0.67%	0.63%	0.60%	0.60%	0.55%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.03	0.05	0.28	0.51	1.44	2.24	2.49	1.35	1.64	2.46	1.55
Quick Ratio	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-521	-408	-367	-390	-324	-395	-350	-324	-324	-247	-197
Operating Cash Flow to CapEx	0.00%	0.00%	125.47%	74.95%	0.00%	0.00%	141.56%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	-149.93	-103.37	-64.98	-98.88	-57.46	-63.96	-46.02	-40.69	-37.78	-21.59	-15.60
Operating Cash Flow to Interest Expense	3.44	3.75	3.47	4.34	5.07	1.89	3.34	3.15	3.27	1.93	2.42
Operating Cash Flow Less CapEx to Interest Expense	11.08	7.67	0.70	-1.45	15.95	5.20	0.98	3.53	13.22	5.29	5.88
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.07	0.07	0.07	0.07	0.07	0.08	0.08	0.08	0.08	0.08	0.08
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	2.31	0.77	0.50	0.00	0.00	0.31	0.39	0.00	0.00	0.00
Fixed Asset Turnover	0.09	0.09	0.09	0.09	0.09	0.10	0.10	0.10	0.10	0.10	0.10
Accounts Payable Turnover	0.00	0.76	0.64	0.57	0.00	0.00	0.59	0.49	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	158.16	471.57	733.50	0.00	0.00	1,166.96	930.73	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	481.36	573.66	641.30	0.00	0.00	621.20	742.80	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	-323.20	-102.09	92.20	0.00	0.00	545.76	187.93	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,553	1,573	1,691	1,802	1,884	1,975	2,047	2,128	2,210	2,233	2,256
Invested Capital Turnover	0.07	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08
Increase / (Decrease) in Invested Capital	525	413	370	398	331	402	355	326	325	259	209
Enterprise Value (EV)	1,417	1,485	1,531	1,573	1,785	1,911	1,917	2,066	2,031	2,219	2,321
Market Capitalization	913	998	1,035	993	1,167	1,198	1,181	1,279	1,154	1,294	1,383
Book Value per Share	$19.11	$18.72	$19.64	$18.23	$18.41	$17.21	$17.86	$17.32	$16.31	$16.00	$16.11
Tangible Book Value per Share	$16.36	$16.06	$17.04	$15.78	$16.06	$14.95	$15.65	$15.19	$14.30	$14.06	$14.22
Total Capital	1,553	1,573	1,691	1,801	1,883	1,974	2,046	2,127	2,208	2,231	2,254
Total Debt	494	477	487	572	610	704	728	780	869	918	931
Total Long-Term Debt	494	381	381	530	610	704	728	780	869	918	931
Net Debt	494	477	487	572	610	704	728	780	869	918	931
Capital Expenditures (CapEx)	-27	-15	16	23	-61	-20	18	-2.99	-85	-39	-44
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.67	-19	8.85	5.11	16	33	41	12	19	47	21
Debt-free Net Working Capital (DFNWC)	0.67	-19	8.85	5.11	16	33	41	12	19	47	21
Net Working Capital (NWC)	0.67	-115	-97	-37	16	33	41	12	19	47	21
Net Nonoperating Expense (NNE)	1.37	4.23	3.69	3.19	4.95	5.38	7.83	6.97	6.58	9.55	8.99
Net Nonoperating Obligations (NNO)	495	477	487	573	611	705	729	781	871	920	933
Total Depreciation and Amortization (D&A)	14	15	16	15	17	17	18	20	20	22	23
Debt-free, Cash-free Net Working Capital to Revenue	0.69%	-18.45%	7.81%	4.18%	12.09%	23.26%	27.51%	7.69%	11.66%	27.69%	11.43%
Debt-free Net Working Capital to Revenue	0.69%	-18.45%	7.81%	4.18%	12.09%	23.26%	27.51%	7.69%	11.66%	27.69%	11.43%
Net Working Capital to Revenue	0.69%	-110.41%	-85.67%	-30.15%	12.09%	23.26%	27.51%	7.69%	11.66%	27.69%	11.43%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.05	$0.03	($0.01)	$0.06	$0.03	$0.01	($0.03)	($0.07)	($0.07)	$0.02	$0.04
Adjusted Weighted Average Basic Shares Outstanding	49.52M	58.16M	61.04M	67.11M	63.92M	73.25M	73.59M	77.61M	76.52M	81.64M	81.90M
Adjusted Diluted Earnings per Share	$0.05	$0.03	($0.01)	$0.06	$0.03	$0.01	($0.03)	($0.07)	($0.07)	$0.02	$0.04
Adjusted Weighted Average Diluted Shares Outstanding	50.43M	58.88M	61.04M	68.05M	64.67M	74.57M	73.59M	77.61M	76.52M	82.13M	82.49M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	58.03M	60.86M	66.99M	68.70M	73.22M	73.37M	77.38M	81.58M	81.66M	81.71M	83.47M
Normalized Net Operating Profit after Tax (NOPAT)	4.18	3.88	4.88	8.97	9.60	10	8.21	8.54	10	15	17
Normalized NOPAT Margin	15.32%	13.19%	15.44%	26.40%	26.05%	26.63%	20.75%	20.60%	22.68%	32.30%	34.55%
Pre Tax Income Margin	10.44%	4.88%	-2.61%	12.53%	5.35%	2.84%	-5.80%	-12.84%	-12.26%	3.74%	6.84%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.82	1.36	0.85	2.08	1.35	1.17	0.70	0.33	0.37	1.15	1.26
NOPAT to Interest Expense	1.20	1.45	0.51	1.88	1.22	1.04	0.73	0.21	0.14	0.98	0.97
EBIT Less CapEx to Interest Expense	9.47	5.29	-1.91	-3.71	12.23	4.48	-1.66	0.71	10.32	4.51	4.72
NOPAT Less CapEx to Interest Expense	8.85	5.37	-2.25	-3.90	12.10	4.35	-1.63	0.58	10.08	4.35	4.43
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	486.92%	553.19%	920.88%	633.04%	755.91%	858.38%	1,178.84%	-1,317.47%	-531.88%	-580.89%	-1,182.20%
Augmented Payout Ratio	504.94%	565.13%	940.69%	640.02%	765.89%	886.32%	1,218.82%	-1,361.90%	-544.37%	-586.52%	-1,191.45%

Key Financial Trends

NETSTREIT Corp. (NYSE: NTST) has shown notable trends in its financial performance over the last four years, through Q2 2025. Here's a summary of key insights derived from quarterly income statements, balance sheets, and cash flow statements.

Operating revenue has steadily increased from $22.63 million in Q2 2022 to $48.29 million in Q2 2025, demonstrating strong top-line growth.
Net income rose significantly from negative results in 2023 (e.g., -$2.3 million in Q2 2024) to a positive $3.29 million in Q2 2025, indicating improvement in profitability.
Cash flow from continuing operating activities improved from $13.3 million in Q2 2022 to $30.6 million in Q2 2025, supporting operational strength and liquidity.
The company maintains a robust asset base, with total assets increasing from around $1.37 billion in Q2 2022 to $2.31 billion by Q2 2025, reflecting asset growth and investment.
Depreciation expense has increased consistently (from approximately $11.7 million in Q2 2022 to $21.5 million in Q2 2025), suggesting ongoing investment in property and equipment.

Interest expense has risen over the years to $12.6 million in Q2 2025, which may impact net income but reflects higher debt financing aligning with asset growth.
Dividend payments remain steady at about $17.2 million in Q2 2025, reflecting management’s commitment to shareholder returns despite prior losses.
The company's common equity has grown from $900 million in Q2 2022 to about $1.32 billion in Q2 2025, showing shareholder value accretion.

NETSTREIT reported several quarters with negative net income, particularly through 2023 and early 2024, highlighting periods of operational and financial challenges.
Significant impairment charges impacted earnings in some quarters (e.g., $12.6 million in Q4 2024), which pressured profitability and may warrant monitoring for asset quality concerns.
Large net cash outflows from continuing investing activities, especially for property acquisitions and investments (e.g., over $106 million outflow in Q2 2024), suggest heavy capital expenditure which could strain cash if not perfectly timed with financing.

Overall, NETSTREIT has demonstrated improving operational results and earnings over the most recent periods, supported by growing revenues and cash from operations. However, past losses, impairment charges, and high investing cash outflows present risks that investors should watch closely. Increasing debt and interest expense require prudent financial management to sustain growth and shareholder value.

08/28/25 04:42 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About NETSTREIT's Financials

When does NETSTREIT's fiscal year end?

According to the most recent income statement we have on file, NETSTREIT's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has NETSTREIT's net income changed over the last 5 years?

NETSTREIT's net income appears to be on a downward trend, with a most recent value of -$12 million in 2024, rising from -$8.07 million in 2019. The previous period was $6.89 million in 2023. Find out what analysts predict for NETSTREIT in the coming months.

What is NETSTREIT's operating income?

NETSTREIT's total operating income in 2024 was $18.44 million, based on the following breakdown:

Total Gross Profit: $162.78 million
Total Operating Expenses: $144.34 million

How has NETSTREIT's revenue changed over the last 5 years?

Over the last 5 years, NETSTREIT's total revenue changed from $19.86 million in 2019 to $162.78 million in 2024, a change of 719.7%.

How much debt does NETSTREIT have?

NETSTREIT's total liabilities were at $921.21 million at the end of 2024, a 36.9% increase from 2023, and a 407.6% increase since 2019.

How has NETSTREIT's book value per share changed over the last 5 years?

Over the last 5 years, NETSTREIT's book value per share changed from 13.16 in 2019 to 16.31 in 2024, a change of 23.9%.

Related Companies

This page (NYSE:NTST) was last updated on 8/28/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

NETSTREIT (NTST) Financials

Key Financial Trends

Financials Breakdown Chart

Frequently Asked Questions About NETSTREIT's Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

NETSTREIT (NTST) Financials

Annual Income Statements for NETSTREIT

Quarterly Income Statements for NETSTREIT

Annual Cash Flow Statements for NETSTREIT

Quarterly Cash Flow Statements for NETSTREIT

Annual Balance Sheets for NETSTREIT

Quarterly Balance Sheets for NETSTREIT

Annual Metrics And Ratios for NETSTREIT

Quarterly Metrics And Ratios for NETSTREIT

Key Financial Trends

Financials Breakdown Chart

Frequently Asked Questions About NETSTREIT's Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools