NETSTREIT (NTST) Financials

$20.60 -0.18 (-0.84%)

As of 03:36 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	2025
Period end date	12/22/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-8.07	0.69	3.05	8.12	6.84	-12	6.90
Consolidated Net Income / (Loss)	-8.07	0.21	3.15	8.21	6.89	-12	6.94
Net Income / (Loss) Continuing Operations	-8.07	0.21	3.15	8.21	6.89	-12	6.94
Total Pre-Tax Income	-8.07	0.21	3.21	8.60	6.84	-12	6.99
Total Operating Income	-2.95	-1.50	3.48	14	24	18	50
Total Gross Profit	20	34	53	96	132	163	195
Total Revenue	20	34	59	96	132	163	195
Operating Revenue	20	34	59	96	132	163	195
Total Cost of Revenue	0.00	0.00	5.80	0.00	0.00	0.00	0.00
Total Operating Expenses	23	35	50	83	108	144	145
Selling, General & Admin Expense	3.56	11	15	19	20	20	22
Depreciation Expense	10	15	31	50	64	77	86
Other Operating Expenses / (Income)	1.65	5.74	0.70	13	17	18	19
Impairment Charge	7.19	2.69	3.54	1.11	7.08	30	17
Total Other Income / (Expense), net	-5.07	1.71	-0.27	-4.90	-17	-30	-43
Interest Expense	11	4.74	3.70	9.18	19	30	51
Other Income / (Expense), net	5.65	6.45	3.43	4.28	1.93	-0.07	8.13
Income Tax Expense	0.00	0.00	0.06	0.40	-0.05	0.05	0.05
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	-0.52	0.10	0.09	0.05	-0.06	0.04
Basic Earnings per Share	$0.00	$0.04	$0.08	$0.16	$0.11	($0.16)	$0.08
Weighted Average Basic Shares Outstanding	0.00	17.32M	37.00M	49.52M	63.92M	76.52M	82.70M
Diluted Earnings per Share	$0.00	$0.01	$0.08	$0.16	$0.11	($0.16)	$0.08
Weighted Average Diluted Shares Outstanding	0.00	21.16M	38.67M	50.43M	64.67M	76.52M	84.20M
Weighted Average Basic & Diluted Shares Outstanding	-	28.39M	44.24M	58.03M	73.22M	81.66M	97.07M
Cash Dividends to Common per Share	-	$0.30	$0.80	$0.80	$0.81	$0.83	$0.85

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	4.22	1.94	1.05	-2.29	-5.30	-5.40	1.69	3.27	0.62	1.32	5.69
Consolidated Net Income / (Loss)	4.24	1.96	1.05	-2.31	-5.32	-5.42	1.70	3.29	0.62	1.33	5.71
Net Income / (Loss) Continuing Operations	4.24	1.96	1.05	-2.31	-5.32	-5.42	1.70	3.29	0.62	1.33	5.71
Total Pre-Tax Income	4.25	1.97	1.07	-2.29	-5.32	-5.41	1.72	3.30	0.63	1.34	5.73
Total Operating Income	7.46	6.95	6.53	7.89	2.36	1.66	11	12	12	15	19
Total Gross Profit	34	41	38	40	41	48	46	48	48	53	57
Total Revenue	34	37	38	40	41	44	46	48	48	53	57
Operating Revenue	34	37	38	40	41	44	46	48	48	53	57
Total Cost of Revenue	0.00	-3.94	0.00	0.00	0.00	-4.10	0.00	0.00	0.00	-	0.00
Total Operating Expenses	27	34	31	32	39	47	35	36	36	38	38
Selling, General & Admin Expense	5.13	4.87	5.71	5.27	4.29	4.46	5.17	5.48	5.13	5.95	5.76
Depreciation Expense	16	17	18	19	20	20	21	22	21	23	24
Other Operating Expenses / (Income)	4.03	9.19	4.23	4.03	4.52	9.10	4.85	4.56	4.32	5.70	5.34
Impairment Charge	1.54	2.71	3.66	3.84	9.84	13	3.62	4.42	5.49	3.74	2.06
Total Other Income / (Expense), net	-3.21	-4.98	-5.46	-10	-7.68	-7.06	-9.64	-9.02	-11	-13	-14
Interest Expense	3.95	5.65	6.18	7.60	7.97	8.58	11	13	13	15	14
Other Income / (Expense), net	0.74	0.67	0.72	-2.58	0.28	1.51	1.82	3.61	1.29	1.40	0.55
Income Tax Expense	0.02	0.01	0.02	0.01	0.00	0.02	0.02	0.01	0.01	0.01	0.01
Net Income / (Loss) Attributable to Noncontrolling Interest	0.02	0.02	0.01	-0.02	-0.03	-0.03	0.01	0.02	0.00	0.01	0.02
Basic Earnings per Share	$0.06	$0.03	$0.01	($0.03)	($0.07)	($0.07)	$0.02	$0.04	$0.01	$0.01	$0.06
Weighted Average Basic Shares Outstanding	67.11M	63.92M	73.25M	73.59M	77.61M	76.52M	81.64M	81.90M	83.47M	82.70M	95.54M
Diluted Earnings per Share	$0.06	$0.03	$0.01	($0.03)	($0.07)	($0.07)	$0.02	$0.04	$0.01	$0.01	$0.06
Weighted Average Diluted Shares Outstanding	68.05M	64.67M	74.57M	73.59M	77.61M	76.52M	82.13M	82.49M	85.64M	84.20M	99.11M
Weighted Average Basic & Diluted Shares Outstanding	68.70M	73.22M	73.37M	77.38M	81.58M	81.66M	81.71M	83.47M	83.56M	97.07M	97.26M
Cash Dividends to Common per Share	$0.21	-	$0.21	-	$0.21	-	$0.21	-	$0.22	-	$0.22

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	2025
Period end date	12/22/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-0.39	-77	-85	63	-41	-16	0.15
Net Cash From Operating Activities	5.99	13	31	51	80	90	110
Net Cash From Continuing Operating Activities	5.99	13	31	51	80	90	110
Net Income / (Loss) Continuing Operations	-8.07	0.21	3.15	8.21	6.89	-12	6.94
Consolidated Net Income / (Loss)	-8.07	0.21	3.15	8.21	6.89	-12	6.94
Depreciation Expense	10	15	31	50	64	77	86
Amortization Expense	1.01	0.62	0.63	0.89	-0.28	-1.45	6.11
Non-Cash Adjustments To Reconcile Net Income	3.14	-7.86	-3.78	-3.55	7.41	29	9.70
Changes in Operating Assets and Liabilities, net	-0.51	1.86	0.68	-4.98	2.46	-2.15	0.39
Net Cash From Investing Activities	76	-362	-430	-468	-452	-433	-449
Net Cash From Continuing Investing Activities	76	-362	-430	-468	-452	-433	-449
Purchase of Property, Plant & Equipment	0.00	-0.05	-0.73	-1.21	-0.04	-0.01	-0.05
Purchase of Investments	-1.23	-409	-441	-425	-340	-479	-598
Sale of Property, Plant & Equipment	-	-	31	26	38	91	161
Sale and/or Maturity of Investments	78	48	-	-	0.00	0.00	10
Other Investing Activities, net	-0.45	-1.57	-19	-68	-150	-45	-22
Net Cash From Financing Activities	-82	273	314	481	331	327	339
Net Cash From Continuing Financing Activities	-82	273	314	481	331	327	339
Repayment of Debt	-78	-50	-86	-470	-397	-233	-644
Repurchase of Common Equity	0.00	-0.14	-0.50	-1.48	-0.69	-1.50	-0.75
Payment of Dividends	-5.62	-8.84	-31	-40	-52	-64	-71
Issuance of Debt	0.71	50	150	715	511	492	868
Issuance of Common Equity	0.00	282	283	278	271	135	188
Other Financing Activities, net	0.54	-0.01	-1.73	-0.80	-1.03	-1.89	-1.31
Cash Interest Paid	9.46	4.21	2.99	7.22	18	30	44
Cash Income Taxes Paid	-	-	0.00	0.13	0.63	-0.03	-0.06

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	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-5.21	22	-7.60	-8.61	15	-14	-0.12	5.54	34	-39	-3.41
Net Cash From Operating Activities	17	29	12	25	25	28	22	31	28	29	26
Net Cash From Continuing Operating Activities	17	29	12	25	25	28	22	31	28	29	26
Net Income / (Loss) Continuing Operations	4.24	1.96	1.05	-2.31	-5.32	-5.42	1.70	3.29	0.62	1.33	5.71
Consolidated Net Income / (Loss)	4.24	1.96	1.05	-2.31	-5.32	-5.42	1.70	3.29	0.62	1.33	5.71
Depreciation Expense	16	17	18	19	20	20	21	22	21	23	24
Amortization Expense	-0.56	-0.40	-0.39	-0.39	-0.40	-0.26	1.40	1.49	1.51	1.72	1.71
Non-Cash Adjustments To Reconcile Net Income	1.90	2.67	4.25	5.20	9.91	9.52	1.75	1.35	4.17	2.44	1.42
Changes in Operating Assets and Liabilities, net	-4.28	7.33	-11	4.32	0.49	3.85	-3.68	3.01	0.29	0.77	-6.99
Net Cash From Investing Activities	-119	-106	-97	-107	-115	-113	-48	-48	-143	-209	-212
Net Cash From Continuing Investing Activities	-119	-106	-97	-107	-115	-113	-48	-48	-143	-209	-212
Purchase of Property, Plant & Equipment	-28	48	-0.01	-30	-7.31	37	-0.01	-3.50	-0.57	4.02	0.00
Purchase of Investments	-91	-86	-95	-96	-112	-177	-77	-97	-191	-233	-234
Sale of Property, Plant & Equipment	5.43	14	20	12	10	48	39	47	36	39	10
Sale and/or Maturity of Investments	-	-	-	-	-	-	0.00	-	-	-	5.59
Other Investing Activities, net	-5.56	-82	-23	6.81	-6.91	-22	-9.39	4.46	2.52	-19	6.03
Net Cash From Financing Activities	97	100	78	73	105	71	26	23	148	142	182
Net Cash From Continuing Financing Activities	97	100	78	73	105	71	26	23	148	142	182
Repayment of Debt	-133	-35	-87	-85	-9.04	-52	-264	-41	-189	-150	-10
Repurchase of Common Equity	-0.28	0.14	-1.49	-0.35	-0.35	0.70	-0.63	-0.25	-0.70	0.83	-1.89
Payment of Dividends	-14	-14	-15	-15	-16	-17	-17	-17	-18	-18	-22
Issuance of Debt	217	73	182	108	61	141	308	54	356	150	148
Issuance of Common Equity	27	77	-	65	70	-	0.00	-	-	160	68
Other Financing Activities, net	-0.06	-0.88	-0.38	-0.06	-0.05	-1.40	-0.20	-0.02	-0.05	-1.04	-0.39
Cash Interest Paid	4.73	5.56	6.54	6.90	9.34	7.52	10	11	11	12	13

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	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	434	726	1,068	1,606	1,946	2,259	2,614
Total Current Assets	8.53	15	2.10	23	52	49	41
Inventories, net	-	15	2.10	23	52	49	41
Plant, Property, & Equipment, net	224	538	914	1,263	1,539	1,834	2,180
Plant, Property & Equipment, gross	224	548	944	1,325	1,640	1,978	2,369
Accumulated Depreciation	0.13	10	31	63	101	143	189
Total Noncurrent Assets	201	173	153	320	355	376	393
Noncurrent Note & Lease Receivables	-	-	0.00	46	114	139	142
Intangible Assets	29	75	125	151	161	164	173
Other Noncurrent Operating Assets	173	98	28	123	79	73	78
Total Liabilities & Shareholders' Equity	434	726	1,068	1,606	1,946	2,259	2,614
Total Liabilities	181	198	279	547	673	921	1,162
Total Current Liabilities	2.91	6.31	17	23	36	30	43
Accounts Payable	2.72	6.31	17	23	36	30	43
Total Noncurrent Liabilities	179	191	262	525	636	892	1,119
Long-Term Debt	174	174	238	494	610	869	1,101
Other Noncurrent Operating Liabilities	4.67	17	23	30	25	20	17
Other Noncurrent Nonoperating Liabilities	-	0.40	0.00	0.41	1.16	1.91	1.02
Commitments & Contingencies	0.00	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	1,453
Total Preferred & Common Equity	165	494	779	1,049	1,265	1,331	1,446
Total Common Equity	165	494	779	1,049	1,265	1,331	1,446
Common Stock	165	501	810	1,092	1,368	1,509	1,703
Retained Earnings	0.03	-7.46	-35	-67	-112	-188	-252
Accumulated Other Comprehensive Income / (Loss)	0.00	0.24	4.12	24	8.94	10	-4.57
Noncontrolling Interest	88	34	11	9.59	8.53	7.16	6.55

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	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	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	9/30/2025	3/31/2026
Total Assets	1,474	1,627	1,748	1,863	2,026	2,098	2,185	2,285	2,312	2,468	2,810
Total Current Assets	40	5.80	38	39	59	68	46	80	58	86	58
Inventories, net	24	5.80	38	39	59	68	46	80	58	86	58
Plant, Property, & Equipment, net	1,184	1,318	1,374	1,474	1,593	1,660	1,744	1,827	1,872	1,976	2,358
Plant, Property & Equipment, gross	1,237	1,391	1,455	1,565	1,703	1,782	1,881	1,980	2,037	2,149	2,564
Accumulated Depreciation	53	73	81	91	111	122	137	153	166	174	206
Total Noncurrent Assets	250	303	335	350	374	370	395	378	382	406	394
Noncurrent Note & Lease Receivables	46	92	108	109	125	130	142	145	153	138	130
Intangible Assets	149	154	158	164	166	162	165	159	155	158	182
Other Noncurrent Operating Assets	54	57	70	77	84	78	88	75	75	110	82
Total Liabilities & Shareholders' Equity	1,474	1,627	1,748	1,863	2,026	2,098	2,185	2,285	2,312	2,468	2,810
Total Liabilities	464	532	543	633	756	780	838	972	988	1,162	1,298
Total Current Liabilities	21	121	135	76	26	27	34	32	37	42	42
Accounts Payable	21	25	29	34	26	27	34	32	37	42	42
Total Noncurrent Liabilities	443	411	408	557	730	753	804	939	951	1,120	1,256
Long-Term Debt	411	381	381	530	704	728	780	918	931	1,101	1,239
Other Noncurrent Operating Liabilities	31	29	27	27	25	24	23	19	18	18	16
Other Noncurrent Nonoperating Liabilities	0.42	0.03	0.08	1.02	1.11	1.14	0.73	1.92	1.82	1.95	1.03
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,009	1,096	1,205	1,230	1,269	1,318	1,347	1,314	1,324	1,306	1,511
Total Preferred & Common Equity	1,000	1,086	1,195	1,221	1,261	1,310	1,340	1,306	1,317	1,299	1,505
Total Common Equity	999	1,086	1,195	1,221	1,261	1,310	1,340	1,306	1,317	1,299	1,505
Common Stock	1,033	1,146	1,262	1,290	1,369	1,436	1,508	1,510	1,539	1,541	1,770
Retained Earnings	-59	-77	-90	-100	-126	-144	-165	-204	-218	-235	-268
Accumulated Other Comprehensive Income / (Loss)	25	18	24	30	18	18	-2.45	0.39	-5.22	-6.62	2.38
Noncontrolling Interest	9.71	9.35	9.29	8.91	8.36	7.65	7.21	7.03	6.93	6.74	6.33

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

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/22/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	69.82%	75.35%	62.80%	37.00%	23.41%	19.79%
EBITDA Growth	0.00%	48.87%	82.30%	79.30%	30.08%	4.89%	60.80%
EBIT Growth	0.00%	83.78%	39.49%	157.37%	46.37%	-29.41%	217.53%
NOPAT Growth	0.00%	27.39%	327.80%	276.98%	88.43%	-46.82%	285.96%
Net Income Growth	0.00%	102.63%	1,385.85%	160.48%	-16.03%	-274.17%	157.82%
EPS Growth	0.00%	0.00%	700.00%	100.00%	-31.25%	-245.45%	150.00%
Operating Cash Flow Growth	0.00%	0.00%	0.00%	60.90%	58.26%	12.49%	21.46%
Free Cash Flow Firm Growth	0.00%	0.00%	-12.61%	-58.93%	40.02%	-1.67%	5.38%
Invested Capital Growth	0.00%	68.08%	46.34%	51.05%	21.34%	17.25%	15.62%
Revenue Q/Q Growth	0.00%	0.00%	7.32%	13.99%	7.82%	4.65%	4.50%
EBITDA Q/Q Growth	0.00%	0.00%	-0.59%	16.88%	4.32%	-1.10%	12.68%
EBIT Q/Q Growth	0.00%	0.00%	-40.22%	45.22%	5.24%	-19.50%	28.07%
NOPAT Q/Q Growth	0.00%	0.00%	-13.22%	48.91%	13.18%	-22.29%	75.88%
Net Income Q/Q Growth	0.00%	0.00%	-43.40%	9.55%	-10.96%	-160.08%	3,630.11%
EPS Q/Q Growth	0.00%	0.00%	-70.37%	-5.88%	-15.38%	-166.67%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	-0.65%	26.32%	-0.67%	0.71%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	-2.41%	18.36%	-1.00%	-17.24%
Invested Capital Q/Q Growth	0.00%	0.00%	14.72%	10.55%	4.55%	3.82%	6.07%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	90.19%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	71.14%	62.36%	64.83%	71.41%	67.79%	57.62%	77.34%
Operating Margin	-14.86%	-4.45%	5.89%	14.02%	18.27%	11.33%	25.75%
EBIT Margin	13.57%	14.69%	11.68%	18.47%	19.73%	11.29%	29.92%
Profit (Net Income) Margin	-40.64%	0.63%	5.33%	8.52%	5.22%	-7.37%	3.56%
Tax Burden Percent	100.00%	100.00%	98.16%	95.40%	100.72%	100.41%	99.23%
Interest Burden Percent	-299.52%	4.28%	46.45%	48.37%	26.28%	-65.05%	11.98%
Effective Tax Rate	0.00%	0.00%	1.84%	4.60%	-0.72%	0.00%	0.77%
Return on Invested Capital (ROIC)	-0.49%	-0.27%	0.39%	1.00%	1.41%	0.63%	2.09%
ROIC Less NNEP Spread (ROIC-NNEP)	-4.12%	0.74%	0.27%	-0.28%	-1.73%	-2.73%	-2.25%
Return on Net Nonoperating Assets (RNNOA)	-2.70%	0.32%	0.08%	-0.11%	-0.82%	-1.55%	-1.59%
Return on Equity (ROE)	-3.20%	0.05%	0.48%	0.89%	0.59%	-0.92%	0.50%
Cash Return on Invested Capital (CROIC)	0.00%	-51.06%	-37.23%	-39.67%	-17.87%	-15.25%	-12.40%
Operating Return on Assets (OROA)	0.62%	0.85%	0.77%	1.33%	1.47%	0.87%	2.39%
Return on Assets (ROA)	-1.86%	0.04%	0.35%	0.61%	0.39%	-0.57%	0.28%
Return on Common Equity (ROCE)	-2.08%	0.05%	0.46%	0.88%	0.59%	-0.91%	0.49%
Return on Equity Simple (ROE_SIMPLE)	-4.91%	0.04%	0.40%	0.78%	0.54%	-0.90%	0.00%
Net Operating Profit after Tax (NOPAT)	-2.07	-1.50	3.42	13	24	13	50
NOPAT Margin	-10.40%	-4.45%	5.78%	13.38%	18.40%	7.93%	25.55%
Net Nonoperating Expense Percent (NNEP)	3.63%	-1.01%	0.13%	1.28%	3.14%	3.36%	4.35%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	0.83%	1.29%	0.58%	1.95%
Cost of Revenue to Revenue	0.00%	0.00%	9.81%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	17.90%	33.62%	25.04%	19.79%	15.30%	12.12%	11.14%
R&D to Revenue	0.00%	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%	74.25%
Earnings before Interest and Taxes (EBIT)	2.70	4.95	6.91	18	26	18	58
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	14	21	38	69	89	94	151
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.37	0.95	1.04	0.87	0.92	0.87	1.02
Price to Tangible Book Value (P/TBV)	1.66	1.12	1.24	1.02	1.06	0.99	1.16
Price to Revenue (P/Rev)	11.33	13.95	13.74	9.48	8.85	7.09	7.56
Price to Earnings (P/E)	0.00	683.94	266.75	112.45	170.70	0.00	213.60
Dividend Yield	0.00%	1.78%	3.90%	4.81%	4.77%	5.87%	4.82%
Earnings Yield	0.00%	0.15%	0.37%	0.89%	0.59%	0.00%	0.47%
Enterprise Value to Invested Capital (EV/IC)	1.16	0.97	1.03	0.91	0.95	0.92	1.01
Enterprise Value to Revenue (EV/Rev)	24.51	20.12	17.95	14.71	13.54	12.48	13.24
Enterprise Value to EBITDA (EV/EBITDA)	34.46	32.27	27.68	20.61	19.97	21.65	17.12
Enterprise Value to EBIT (EV/EBIT)	180.64	137.01	153.64	79.66	68.60	110.54	44.25
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	310.65	109.97	73.56	157.34	51.82
Enterprise Value to Operating Cash Flow (EV/OCF)	81.28	0.00	33.72	27.97	22.27	22.53	23.58
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	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	0.76
Long-Term Debt to Equity	0.69	0.33	0.30	0.47	0.48	0.65	0.76
Financial Leverage	0.66	0.44	0.31	0.40	0.47	0.57	0.71
Leverage Ratio	1.72	1.49	1.36	1.45	1.52	1.61	1.75
Compound Leverage Factor	-5.15	0.06	0.63	0.70	0.40	-1.05	0.21
Debt to Total Capital	40.79%	24.80%	23.18%	31.83%	32.38%	39.39%	43.12%
Short-Term Debt to Total Capital	0.00%	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%	43.12%
Preferred Equity to Total Capital	0.00%	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%	0.26%
Common Equity to Total Capital	38.59%	70.33%	75.78%	67.55%	67.17%	60.29%	56.62%
Debt to EBITDA	12.31	8.28	6.22	7.19	6.82	9.27	7.30
Net Debt to EBITDA	12.31	8.28	6.22	7.19	6.82	9.27	7.30
Long-Term Debt to EBITDA	12.31	8.28	6.22	7.19	6.82	9.27	7.30
Debt to NOPAT	-84.19	-116.07	69.75	38.37	25.12	67.35	22.10
Net Debt to NOPAT	-84.19	-116.07	69.75	38.37	25.12	67.35	22.10
Long-Term Debt to NOPAT	-84.19	-116.07	69.75	38.37	25.12	67.35	22.10
Altman Z-Score	0.83	1.50	1.76	1.04	1.08	0.74	0.77
Noncontrolling Interest Sharing Ratio	34.82%	15.65%	3.41%	1.10%	0.78%	0.60%	0.49%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	2.94	2.35	0.12	1.03	1.44	1.64	0.96
Quick Ratio	0.00	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	-295
Operating Cash Flow to CapEx	0.00%	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	-5.75
Operating Cash Flow to Interest Expense	0.56	0.00	8.51	5.52	4.18	2.97	2.13
Operating Cash Flow Less CapEx to Interest Expense	0.56	0.00	16.72	8.16	6.18	5.97	5.26
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.05	0.06	0.07	0.07	0.07	0.08	0.08
Accounts Receivable Turnover	0.00	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	0.00
Fixed Asset Turnover	0.09	0.09	0.08	0.09	0.09	0.10	0.10
Accounts Payable Turnover	0.00	0.00	0.50	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	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	0.00
Days Payable Outstanding (DPO)	0.00	0.00	732.39	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	-200.96	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	418	703	1,028	1,553	1,884	2,210	2,555
Invested Capital Turnover	0.05	0.06	0.07	0.07	0.08	0.08	0.08
Increase / (Decrease) in Invested Capital	0.00	285	326	525	331	325	345
Enterprise Value (EV)	487	679	1,061	1,417	1,785	2,031	2,582
Market Capitalization	225	471	813	913	1,167	1,154	1,474
Book Value per Share	$13.16	$17.65	$19.66	$19.11	$18.41	$16.31	$17.30
Tangible Book Value per Share	$10.86	$14.97	$16.51	$16.36	$16.06	$14.30	$15.23
Total Capital	426	702	1,028	1,553	1,883	2,208	2,554
Total Debt	174	174	238	494	610	869	1,101
Total Long-Term Debt	174	174	238	494	610	869	1,101
Net Debt	174	174	238	494	610	869	1,101
Capital Expenditures (CapEx)	0.00	0.05	-30	-24	-38	-91	-161
Debt-free, Cash-free Net Working Capital (DFCFNWC)	5.63	8.49	-15	0.67	16	19	-1.58
Debt-free Net Working Capital (DFNWC)	5.63	8.49	-15	0.67	16	19	-1.58
Net Working Capital (NWC)	5.63	8.49	-15	0.67	16	19	-1.58
Net Nonoperating Expense (NNE)	6.01	-1.71	0.27	4.68	17	25	43
Net Nonoperating Obligations (NNO)	166	175	238	495	611	871	1,102
Total Depreciation and Amortization (D&A)	11	16	31	51	63	75	92
Debt-free, Cash-free Net Working Capital to Revenue	28.33%	25.18%	-25.17%	0.69%	12.09%	11.66%	-0.81%
Debt-free Net Working Capital to Revenue	28.33%	25.18%	-25.17%	0.69%	12.09%	11.66%	-0.81%
Net Working Capital to Revenue	28.33%	25.18%	-25.17%	0.69%	12.09%	11.66%	-0.81%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.04	$0.08	$0.16	$0.11	($0.16)	$0.08
Adjusted Weighted Average Basic Shares Outstanding	0.00	17.32M	37.00M	49.52M	63.92M	76.52M	82.70M
Adjusted Diluted Earnings per Share	$0.00	$0.01	$0.08	$0.16	$0.11	($0.16)	$0.08
Adjusted Weighted Average Diluted Shares Outstanding	0.00	21.16M	38.67M	50.43M	64.67M	76.52M	84.20M
Adjusted Basic & Diluted Earnings per Share	$0.00	$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	97.07M
Normalized Net Operating Profit after Tax (NOPAT)	2.96	0.83	6.89	14	22	34	67
Normalized NOPAT Margin	14.93%	2.47%	11.65%	14.48%	16.55%	20.82%	34.34%
Pre Tax Income Margin	-40.64%	0.63%	5.43%	8.93%	5.19%	-7.34%	3.59%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	0.25	1.04	1.87	1.94	1.36	0.61	1.14
NOPAT to Interest Expense	-0.19	-0.32	0.92	1.40	1.27	0.43	0.97
EBIT Less CapEx to Interest Expense	0.25	1.03	10.08	4.58	3.36	3.60	4.26
NOPAT Less CapEx to Interest Expense	-0.19	-0.33	9.14	4.05	3.27	3.42	4.10
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	-69.67%	4,170.75%	993.78%	486.92%	755.91%	-531.88%	1,017.41%
Augmented Payout Ratio	-69.67%	4,235.38%	1,009.78%	504.94%	765.89%	-544.37%	1,028.26%

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	97,073,872.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	97,073,872.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.06
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	35.77%	35.03%	27.91%	25.09%	22.03%	19.64%	21.86%	22.04%	16.56%	19.05%	24.29%
EBITDA Growth	28.47%	17.97%	18.05%	11.68%	-3.28%	-4.28%	45.49%	65.95%	59.45%	72.96%	30.04%
EBIT Growth	77.99%	20.49%	34.69%	10.05%	-67.74%	-58.41%	81.76%	200.19%	401.66%	403.47%	51.72%
NOPAT Growth	86.59%	65.24%	12.48%	90.49%	-77.77%	-83.20%	74.95%	122.30%	610.95%	1,141.94%	72.42%
Net Income Growth	198.73%	-30.18%	-28.97%	-191.16%	-225.55%	-376.45%	61.60%	242.63%	111.67%	124.48%	235.94%
EPS Growth	100.00%	-40.00%	-66.67%	-200.00%	-216.67%	-333.33%	100.00%	233.33%	114.29%	114.29%	200.00%
Operating Cash Flow Growth	4.02%	139.87%	-21.31%	29.50%	46.70%	-2.12%	89.61%	20.77%	11.41%	2.76%	19.11%
Free Cash Flow Firm Growth	22.68%	37.69%	3.06%	4.66%	16.94%	0.15%	37.40%	43.66%	17.14%	-2.11%	-101.60%
Invested Capital Growth	28.30%	21.34%	25.54%	21.02%	18.07%	17.25%	13.10%	10.23%	13.17%	15.62%	23.20%
Revenue Q/Q Growth	7.37%	8.54%	2.20%	5.03%	4.74%	6.41%	4.10%	5.18%	0.05%	8.68%	8.69%
EBITDA Q/Q Growth	11.63%	3.63%	0.40%	-3.85%	-3.32%	2.57%	52.60%	9.67%	-7.11%	11.26%	14.73%
EBIT Q/Q Growth	69.95%	-7.07%	-4.87%	-26.75%	-50.19%	19.81%	315.78%	20.98%	-16.76%	20.24%	25.30%
NOPAT Q/Q Growth	156.39%	-7.04%	-6.98%	-14.08%	-70.08%	-29.78%	868.99%	9.17%	-4.30%	22.67%	34.53%
Net Income Q/Q Growth	635.23%	-53.72%	-46.38%	-319.20%	-130.79%	-1.92%	131.34%	93.47%	-81.12%	113.85%	330.05%
EPS Q/Q Growth	700.00%	-50.00%	-66.67%	-400.00%	-133.33%	0.00%	128.57%	100.00%	-75.00%	0.00%	500.00%
Operating Cash Flow Q/Q Growth	-12.62%	67.34%	-59.32%	117.72%	-1.01%	11.65%	-21.20%	38.68%	-8.69%	2.98%	-8.67%
Free Cash Flow Firm Q/Q Growth	-6.30%	16.84%	-21.82%	11.46%	7.39%	0.04%	23.62%	20.32%	-36.21%	-23.18%	-50.79%
Invested Capital Q/Q Growth	6.57%	4.55%	4.79%	3.65%	3.98%	3.82%	1.08%	1.02%	6.75%	6.07%	7.70%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	110.68%	100.00%	100.00%	100.00%	109.30%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	69.05%	65.92%	64.76%	59.29%	54.72%	52.75%	77.32%	80.63%	74.86%	76.63%	80.89%
Operating Margin	21.97%	18.85%	17.34%	19.94%	5.70%	3.76%	24.73%	25.53%	24.79%	27.72%	34.06%
EBIT Margin	24.15%	20.67%	19.24%	13.42%	6.38%	7.19%	28.70%	33.01%	27.47%	30.39%	35.03%
Profit (Net Income) Margin	12.48%	5.32%	2.79%	-5.83%	-12.84%	-12.30%	3.70%	6.81%	1.29%	2.53%	10.01%
Tax Burden Percent	99.65%	99.44%	98.41%	100.52%	100.04%	100.33%	99.07%	99.61%	98.10%	99.03%	99.76%
Interest Burden Percent	51.88%	25.89%	14.75%	-43.20%	-201.13%	-170.59%	13.02%	20.72%	4.77%	8.40%	28.64%
Effective Tax Rate	0.35%	0.56%	1.59%	0.00%	0.00%	0.00%	0.93%	0.39%	1.90%	0.97%	0.24%
Return on Invested Capital (ROIC)	1.67%	1.44%	1.35%	1.11%	0.32%	0.21%	1.99%	2.12%	2.00%	2.25%	2.81%
ROIC Less NNEP Spread (ROIC-NNEP)	1.01%	0.54%	0.44%	-0.18%	-0.72%	-0.68%	0.82%	1.04%	0.82%	0.92%	1.54%
Return on Net Nonoperating Assets (RNNOA)	0.44%	0.26%	0.22%	-0.09%	-0.38%	-0.39%	0.51%	0.66%	0.58%	0.65%	1.18%
Return on Equity (ROE)	2.11%	1.70%	1.57%	1.02%	-0.06%	-0.18%	2.50%	2.78%	2.58%	2.90%	3.99%
Cash Return on Invested Capital (CROIC)	-23.46%	-17.87%	-21.23%	-17.49%	-15.73%	-15.25%	-11.52%	-8.83%	-11.11%	-12.40%	-18.46%
Operating Return on Assets (OROA)	1.77%	1.54%	1.48%	1.03%	0.49%	0.56%	2.28%	2.69%	2.20%	2.43%	2.84%
Return on Assets (ROA)	0.92%	0.40%	0.21%	-0.45%	-0.99%	-0.95%	0.29%	0.56%	0.10%	0.20%	0.81%
Return on Common Equity (ROCE)	2.09%	1.68%	1.56%	1.01%	-0.06%	-0.18%	2.49%	2.76%	2.57%	2.88%	3.97%
Return on Equity Simple (ROE_SIMPLE)	0.63%	0.00%	0.51%	0.38%	-0.34%	0.00%	-0.87%	-0.44%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	7.43	6.91	6.43	5.52	1.65	1.16	11	12	12	14	19
NOPAT Margin	21.89%	18.75%	17.06%	13.96%	3.99%	2.63%	24.50%	25.43%	24.32%	27.45%	33.98%
Net Nonoperating Expense Percent (NNEP)	0.66%	0.90%	0.91%	1.29%	1.03%	0.89%	1.17%	1.08%	1.18%	1.33%	1.27%
Return On Investment Capital (ROIC_SIMPLE)	-	0.37%	0.33%	-	-	0.05%	0.50%	0.54%	0.49%	0.56%	0.71%
Cost of Revenue to Revenue	0.00%	-10.68%	0.00%	0.00%	0.00%	-9.30%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	15.11%	13.22%	15.15%	13.31%	10.34%	10.11%	11.26%	11.34%	10.62%	11.33%	10.09%
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	78.03%	91.83%	82.66%	80.06%	94.30%	105.54%	75.27%	74.47%	75.21%	72.28%	65.94%
Earnings before Interest and Taxes (EBIT)	8.20	7.62	7.25	5.31	2.65	3.17	13	16	13	16	20
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	23	24	24	23	23	23	35	39	36	40	46
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.81	0.92	0.95	0.90	0.95	0.87	0.99	1.05	1.16	1.02	1.21
Price to Tangible Book Value (P/TBV)	0.94	1.06	1.09	1.03	1.09	0.99	1.13	1.19	1.32	1.16	1.38
Price to Revenue (P/Rev)	8.12	8.85	8.55	7.98	8.22	7.09	7.57	7.70	8.08	7.56	8.87
Price to Earnings (P/E)	129.27	170.70	186.97	240.57	0.00	0.00	0.00	0.00	8,148.27	213.60	167.74
Dividend Yield	5.43%	4.77%	4.67%	5.09%	4.99%	5.87%	5.27%	4.96%	4.68%	4.82%	4.57%
Earnings Yield	0.77%	0.59%	0.53%	0.42%	0.00%	0.00%	0.00%	0.00%	0.01%	0.47%	0.60%
Enterprise Value to Invested Capital (EV/IC)	0.87	0.95	0.97	0.94	0.97	0.92	0.99	1.03	1.09	1.01	1.12
Enterprise Value to Revenue (EV/Rev)	12.86	13.54	13.64	12.94	13.28	12.48	12.98	12.91	14.01	13.24	14.91
Enterprise Value to EBITDA (EV/EBITDA)	18.35	19.97	20.52	20.05	21.79	21.65	21.16	19.28	19.53	17.12	19.03
Enterprise Value to EBIT (EV/EBIT)	63.62	68.60	68.52	67.54	90.53	110.54	91.33	66.45	57.40	44.25	47.17
Enterprise Value to NOPAT (EV/NOPAT)	73.36	73.56	76.32	67.22	124.39	157.34	136.30	119.72	92.30	51.82	52.97
Enterprise Value to Operating Cash Flow (EV/OCF)	24.80	22.27	24.82	23.15	22.76	22.53	22.06	21.92	24.05	23.58	27.02
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	0.46	0.48	0.56	0.55	0.58	0.65	0.70	0.70	0.84	0.76	0.82
Long-Term Debt to Equity	0.43	0.48	0.56	0.55	0.58	0.65	0.70	0.70	0.84	0.76	0.82
Financial Leverage	0.43	0.47	0.50	0.48	0.53	0.57	0.63	0.63	0.71	0.71	0.76
Leverage Ratio	1.49	1.52	1.54	1.52	1.57	1.61	1.67	1.67	1.75	1.75	1.80
Compound Leverage Factor	0.77	0.39	0.23	-0.66	-3.16	-2.75	0.22	0.35	0.08	0.15	0.52
Debt to Total Capital	31.73%	32.38%	35.69%	35.58%	36.67%	39.39%	41.13%	41.29%	45.73%	43.12%	45.05%
Short-Term Debt to Total Capital	2.33%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	29.39%	32.38%	35.69%	35.58%	36.67%	39.39%	41.13%	41.29%	45.73%	43.12%	45.05%
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	0.49%	0.45%	0.42%	0.37%	0.34%	0.32%	0.32%	0.31%	0.28%	0.26%	0.23%
Common Equity to Total Capital	67.78%	67.17%	63.89%	64.05%	62.99%	60.29%	58.55%	58.40%	53.99%	56.62%	54.72%
Debt to EBITDA	6.67	6.82	7.56	7.61	8.23	9.27	8.75	7.73	8.22	7.30	7.67
Net Debt to EBITDA	6.67	6.82	7.56	7.61	8.23	9.27	8.75	7.73	8.22	7.30	7.67
Long-Term Debt to EBITDA	6.18	6.82	7.56	7.61	8.23	9.27	8.75	7.73	8.22	7.30	7.67
Debt to NOPAT	26.65	25.12	28.13	25.52	46.96	67.35	56.37	48.01	38.85	22.10	21.36
Net Debt to NOPAT	26.65	25.12	28.13	25.52	46.96	67.35	56.37	48.01	38.85	22.10	21.36
Long-Term Debt to NOPAT	24.69	25.12	28.13	25.52	46.96	67.35	56.37	48.01	38.85	22.10	21.36
Altman Z-Score	0.92	1.05	0.96	0.91	0.89	0.72	0.79	0.82	0.76	0.72	0.81
Noncontrolling Interest Sharing Ratio	0.86%	0.78%	0.75%	0.67%	0.63%	0.60%	0.60%	0.55%	0.53%	0.49%	0.47%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.51	1.44	2.24	2.49	1.35	1.64	2.46	1.55	2.05	0.96	1.37
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)	-390	-324	-395	-350	-324	-324	-247	-197	-269	-331	-499
Operating Cash Flow to CapEx	74.95%	0.00%	0.00%	141.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	-98.88	-57.46	-63.96	-46.02	-40.69	-37.78	-21.59	-15.60	-21.25	-22.64	-34.97
Operating Cash Flow to Interest Expense	4.34	5.07	1.89	3.34	3.15	3.27	1.93	2.42	2.21	1.97	1.84
Operating Cash Flow Less CapEx to Interest Expense	-1.45	15.95	5.20	0.98	3.53	13.22	5.29	5.88	5.02	4.91	2.57
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.07	0.07	0.08	0.08	0.08	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	0.50	0.00	0.00	0.31	0.39	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.09	0.09	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10
Accounts Payable Turnover	0.57	0.00	0.00	0.59	0.49	0.00	0.00	0.00	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)	733.50	0.00	0.00	1,166.96	930.73	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	641.30	0.00	0.00	621.20	742.80	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	92.20	0.00	0.00	545.76	187.93	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,802	1,884	1,975	2,047	2,128	2,210	2,233	2,256	2,408	2,555	2,752
Invested Capital Turnover	0.08	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	398	331	402	355	326	325	259	209	280	345	518
Enterprise Value (EV)	1,573	1,785	1,911	1,917	2,066	2,031	2,219	2,321	2,615	2,582	3,073
Market Capitalization	993	1,167	1,198	1,181	1,279	1,154	1,294	1,383	1,507	1,474	1,828
Book Value per Share	$18.23	$18.41	$17.21	$17.86	$17.32	$16.31	$16.00	$16.11	$15.57	$17.30	$15.50
Tangible Book Value per Share	$15.78	$16.06	$14.95	$15.65	$15.19	$14.30	$14.06	$14.22	$13.68	$15.23	$13.63
Total Capital	1,801	1,883	1,974	2,046	2,127	2,208	2,231	2,254	2,407	2,554	2,751
Total Debt	572	610	704	728	780	869	918	931	1,101	1,101	1,239
Total Long-Term Debt	530	610	704	728	780	869	918	931	1,101	1,101	1,239
Net Debt	572	610	704	728	780	869	918	931	1,101	1,101	1,239
Capital Expenditures (CapEx)	23	-61	-20	18	-2.99	-85	-39	-44	-35	-43	-10
Debt-free, Cash-free Net Working Capital (DFCFNWC)	5.11	16	33	41	12	19	47	21	44	-1.58	16
Debt-free Net Working Capital (DFNWC)	5.11	16	33	41	12	19	47	21	44	-1.58	16
Net Working Capital (NWC)	-37	16	33	41	12	19	47	21	44	-1.58	16
Net Nonoperating Expense (NNE)	3.19	4.95	5.38	7.83	6.97	6.58	9.55	8.99	11	13	14
Net Nonoperating Obligations (NNO)	573	611	705	729	781	871	920	933	1,103	1,102	1,240
Total Depreciation and Amortization (D&A)	15	17	17	18	20	20	22	23	23	24	26
Debt-free, Cash-free Net Working Capital to Revenue	4.18%	12.09%	23.26%	27.51%	7.69%	11.66%	27.69%	11.43%	23.63%	-0.81%	7.61%
Debt-free Net Working Capital to Revenue	4.18%	12.09%	23.26%	27.51%	7.69%	11.66%	27.69%	11.43%	23.63%	-0.81%	7.61%
Net Working Capital to Revenue	-30.15%	12.09%	23.26%	27.51%	7.69%	11.66%	27.69%	11.43%	23.63%	-0.81%	7.61%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.06	$0.03	$0.01	($0.03)	($0.07)	($0.07)	$0.02	$0.04	$0.01	$0.01	$0.06
Adjusted Weighted Average Basic Shares Outstanding	67.11M	63.92M	73.25M	73.59M	77.61M	76.52M	81.64M	81.90M	83.47M	82.70M	95.54M
Adjusted Diluted Earnings per Share	$0.06	$0.03	$0.01	($0.03)	($0.07)	($0.07)	$0.02	$0.04	$0.01	$0.01	$0.06
Adjusted Weighted Average Diluted Shares Outstanding	68.05M	64.67M	74.57M	73.59M	77.61M	76.52M	82.13M	82.49M	85.64M	84.20M	99.11M
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	68.70M	73.22M	73.37M	77.38M	81.58M	81.66M	81.71M	83.47M	83.56M	97.07M	97.26M
Normalized Net Operating Profit after Tax (NOPAT)	8.97	9.60	10	8.21	8.54	10	15	17	17	18	21
Normalized NOPAT Margin	26.40%	26.05%	26.63%	20.75%	20.60%	22.68%	32.30%	34.55%	35.48%	34.50%	37.59%
Pre Tax Income Margin	12.53%	5.35%	2.84%	-5.80%	-12.84%	-12.26%	3.74%	6.84%	1.31%	2.55%	10.03%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.08	1.35	1.17	0.70	0.33	0.37	1.15	1.26	1.05	1.09	1.40
NOPAT to Interest Expense	1.88	1.22	1.04	0.73	0.21	0.14	0.98	0.97	0.93	0.99	1.36
EBIT Less CapEx to Interest Expense	-3.71	12.23	4.48	-1.66	0.71	10.32	4.51	4.72	3.85	4.03	2.13
NOPAT Less CapEx to Interest Expense	-3.90	12.10	4.35	-1.63	0.58	10.08	4.35	4.43	3.73	3.92	2.09
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	633.04%	755.91%	858.38%	1,178.84%	-1,317.47%	-531.88%	-580.89%	-1,182.20%	37,502.15%	1,017.41%	683.57%
Augmented Payout Ratio	640.02%	765.89%	886.32%	1,218.82%	-1,361.90%	-544.37%	-586.52%	-1,191.45%	37,976.88%	1,028.26%	701.88%

Financials Breakdown Chart

Key Financial Trends

NetStreit Corp. (NTST) has shown a mix of growth and leverage over the last four years across its quarterly income statements, cash flow statements, and balance sheets. Below are 10 key points, with the positives listed first, followed by neutral items and then potential negatives.

Revenue growth trend: Total revenue rose from about $27.3 million in 2022 to $52.5 million in 2025 Q4, with steady year‑over‑year increases (approx. $36.9m in 2023‑Q4, $44.1m in 2024‑Q4, and $52.5m in 2025‑Q4).
Strong operating cash flow: Net cash from continuing operating activities has been positive and growing, reaching roughly $28.8 million in 2025 Q4 (with multiple quarters above $22 million since 2023).
Capital raised via equity: The company has periodically issued common equity (about $159.99 million per issuance in several quarters), strengthening the equity base and liquidity.
Healthy near‑term liquidity: In 2025 Q3, current assets (~$86.1 million) were about 2x current liabilities (~$41.96 million), indicating solid short‑term liquidity.
Leverage remains sizable but stable: Long‑term debt has been in the $0.93–1.12 billion range and total liabilities have been approximately $0.97–1.36 billion through mid‑2025, signaling a high but manageable leverage profile.
Investing activity is volatile: 2025 shows large investing outflows (e.g., net cash from continuing investing activities around −$209.3 million in 2025 Q4), reflecting portfolio growth and asset purchases that compress near‑term cash flow.
Earnings volatility from non‑operating items: Impairment charges and other non‑operating items have contributed to quarterly earnings fluctuations in several periods.
Significant cash outflows from investing: The large 2025 investing outflows (notably the −$209.3 million in 2025 Q4) create negative free cash flow in those periods.
Debt burden and interest costs: Ongoing debt and meaningful interest expense press on profitability and cash conversion, especially if rates or financing costs rise.
Cash balance volatility from financing activity: Financing activities can be lumpy (issuances and repayments), contributing to fluctuations in cash balances from quarter to quarter.

05/19/26 03:36 PM ETAI Generated. May Contain Errors.

NETSTREIT Financials - Frequently Asked Questions

According to the most recent income statement we have on file, NETSTREIT's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

NETSTREIT's net income appears to be on an upward trend, with a most recent value of $6.94 million in 2025, falling from -$8.07 million in 2019. The previous period was -$12 million in 2024. View NETSTREIT's forecast to see where analysts expect NETSTREIT to go next.

NETSTREIT's total operating income in 2025 was $50.21 million, based on the following breakdown:

Total Gross Profit: $195.01 million
Total Operating Expenses: $144.80 million

Over the last 6 years, NETSTREIT's total revenue changed from $19.86 million in 2019 to $195.01 million in 2025, a change of 881.9%.

NETSTREIT's total liabilities were at $1.16 billion at the end of 2025, a 26.1% increase from 2024, and a 540.1% increase since 2019.

Over the last 6 years, NETSTREIT's book value per share changed from 13.16 in 2019 to 17.30 in 2025, a change of 31.5%.

Related Companies

Financial statements for NYSE:NTST last updated on 4/22/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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NETSTREIT (NTST) Financials

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NETSTREIT (NTST) Financials

Annual Income Statements for NETSTREIT

Quarterly Income Statements for NETSTREIT

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Quarterly Cash Flow Statements for NETSTREIT

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Quarterly Balance Sheets for NETSTREIT

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Quarterly Metrics And Ratios for NETSTREIT

Financials Breakdown Chart

Key Financial Trends

NETSTREIT Financials - Frequently Asked Questions

When does NETSTREIT's fiscal year end?

How has NETSTREIT's net income changed over the last 6 years?

What is NETSTREIT's operating income?

How has NETSTREIT's revenue changed over the last 6 years?

How much debt does NETSTREIT have?

How has NETSTREIT's book value per share changed over the last 6 years?

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