Stocks NTST Financial statements
Financial statementsNETSTREIT Corp. financial statements
Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data NETSTREIT Corp. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
| FY2020 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|
| Revenue | 33.7 | 59.1 | 96.3 | 132 | 163 | 195 | |
| General and administrative | 3.56 | 11.3 | 14.8 | 19.1 | 20.2 | 19.7 | 21.7 |
| Interest expense | 10.7 | 4.74 | 3.7 | 9.18 | 19.1 | 30.3 | 51.3 |
| Other non-operating income | -5.07 | 1.71 | -0.27 | -4.9 | -17.3 | -30.4 | -43.2 |
| Pre-tax income | -8.07 | 0.21 | 3.21 | 8.6 | 6.84 | -12 | 6.99 |
| Income tax | 0 | 0 | 0.06 | 0.4 | -0.05 | 0.05 | 0.05 |
| Net income to minority interests | 0 | -0.52 | 0.1 | 0.09 | 0.05 | -0.06 | 0.04 |
| Net income | -8.07 | 0.69 | 3.05 | 8.12 | 6.84 | -11.9 | 6.9 |
| EPS, basic | 0.04 | 0.08 | 0.16 | 0.11 | -0.16 | 0.08 | |
| EPS, diluted | 0.01 | 0.08 | 0.16 | 0.11 | -0.16 | 0.08 | |
| Shares, basic (weighted) | 17.3 | 37 | 49.5 | 63.9 | 76.5 | 82.7 | |
| Shares, diluted (weighted) | 21.2 | 38.7 | 50.4 | 64.7 | 76.5 | 84.2 | |
| Dividend per share | 0.30 | 0.80 | 0.80 | 0.81 | 0.83 | 0.85 |
Balance sheet
| FY2020 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | 1.56 | 92.6 | 7.6 | 70.5 | 29.9 | 14.3 | 14.5 |
| Lease right-of-use assets | 0 | 4.58 | 4.24 | 3.87 | 3.48 | 3.09 | |
| Intangible assets | 75 | 125 | 151 | 161 | 164 | 173 | |
| Total assets | 726 | 1,068 | 1,606 | 1,946 | 2,259 | 2,614 | |
| Total liabilities | 198 | 279 | 547 | 673 | 921 | 1,162 | |
| Total debt | 173 | 238 | 492 | 608 | 868 | 1,095 | |
| Paid-in capital | 501 | 810 | 1,092 | 1,368 | 1,508 | 1,702 | |
| Retained earnings | -7.46 | -35.1 | -66.9 | -112 | -188 | -252 | |
| Other comprehensive income | 0.24 | 4.12 | 23.7 | 8.94 | 10.2 | -4.57 | |
| Shareholders' equity | 494 | 779 | 1,049 | 1,265 | 1,331 | 1,446 | |
| Minority interests | 34 | 10.6 | 9.59 | 8.53 | 7.16 | 6.55 | |
| Total equity | 528 | 790 | 1,058 | 1,273 | 1,338 | 1,453 | |
| Total liabilities and equity | 726 | 1,068 | 1,606 | 1,946 | 2,259 | 2,614 | |
| Shares outstanding | 28.2 | 44.2 | 58 | 73.2 | 81.6 | 93.1 |
Cash flow statement
| FY2020 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|
| Net income | -8.07 | 0.21 | 3.15 | 8.21 | 6.89 | -12 | 6.94 |
| Depreciation and amortization | 10.4 | 15.5 | 30.8 | 50.1 | 63.7 | 76.9 | 86.4 |
| Stock-based compensation | 0 | 2.45 | 3.7 | 4.76 | 4.82 | 5.66 | 5.9 |
| Change in payables | -0.58 | 3.37 | 1.74 | 1.22 | 3.7 | -0.95 | 0.49 |
| Cash from operations | 5.99 | 12.7 | 31.5 | 50.6 | 80.2 | 90.2 | 110 |
| Acquisitions | 0 | 0 | 0 | ||||
| Cash from investing | 75.9 | -362 | -430 | -468 | -452 | -433 | -449 |
| Stock issued | 0 | 227 | 283 | 278 | 271 | 135 | 188 |
| Share buybacks | 0 | -0.14 | -0.5 | -1.48 | -0.69 | -1.5 | -0.75 |
| Dividends paid | 0 | -8.07 | -30.2 | -39.5 | -51.7 | -63.5 | -70.2 |
| Cash from financing | -82.3 | 273 | 314 | 481 | 331 | 327 | 339 |
| Net change in cash | -0.39 | -76.7 | -85 | 62.9 | -40.6 | -15.6 | 0.15 |
| Interest paid | 9.46 | 4.21 | 2.99 | 7.22 | 18.3 | 30.3 | 44 |
| Income taxes paid | 0 | 0.13 | 0.63 | -0.03 | -0.06 |
Key metrics
Profitability
| Metric | Value | How it is calculated |
|---|---|---|
| Pre-tax margin | 6.4% | Pre-tax income / revenue. |
| Net margin | 6.3% | Net income / revenue. |
| Operating cash flow margin | 54.7% | Cash from operations / revenue. |
| Effective tax rate | 0.8% | Income tax / pre-tax income, when pre-tax income is positive. |
| Return on equity (ROE) | 0.9% | Net income / average shareholders' equity (opening and closing). Not shown when equity is negative. |
| Return on assets (ROA) | 0.5% | Net income / average total assets. |
| Stock-based pay / revenue | 3.0% | Stock-based compensation (from the cash flow statement) / revenue. |
| D&A / revenue | 43.0% | Depreciation and amortization / revenue. |
Growth
| Metric | Value | How it is calculated |
|---|---|---|
| Revenue growth, 1y | 19.8% | Revenue vs the same period a year earlier. Only from a positive base. |
| Revenue CAGR, 3y | 26.5% | Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Revenue CAGR, 5y | 42.0% | Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Net income CAGR, 3y | -5.3% | Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Net income CAGR, 5y | 58.6% | Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| EPS CAGR, 3y | -20.6% | Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EPS CAGR, 5y | 51.6% | Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Operating cash flow growth, 1y | 21.5% | Operating cash flow vs the same period a year earlier. Only from a positive base. |
| Operating cash flow CAGR, 3y | 29.3% | Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating cash flow CAGR, 5y | 53.7% | Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Dividend per share growth, 1y | 2.4% | Dividend per share vs the same period a year earlier. Only from a positive base. |
| Dividend per share CAGR, 3y | 2.0% | Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Dividend per share CAGR, 5y | 23.2% | Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Book value growth, 1y | 8.6% | Book value vs the same period a year earlier. Only from a positive base. |
| Book value CAGR, 3y | 11.3% | Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Book value CAGR, 5y | 24.0% | Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Total assets growth, 1y | 15.7% | Total assets vs the same period a year earlier. Only from a positive base. |
| Total assets CAGR, 3y | 17.6% | Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Total assets CAGR, 5y | 29.2% | Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Share count change, 1y | 10.0% | Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 3y | 18.6% | Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 5y | 31.8% | Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution. |
Balance sheet health
| Metric | Value | How it is calculated |
|---|---|---|
| Debt / equity | 0.89x | Total debt / shareholders' equity. Not shown when equity is negative. |
| Debt / assets | 46.0% | Total debt / total assets. |
| Liabilities / assets | 48.0% | Total liabilities / total assets. |
| Net debt | $1.38B | Total debt - cash - short-term investments. Negative means more cash than debt. |
| Goodwill and intangibles / assets | 6.5% | (Goodwill + intangible assets) / total assets. |
| Tangible book value | $1.38B | Shareholders' equity - goodwill - intangible assets. |
Efficiency
| Metric | Value | How it is calculated |
|---|---|---|
| Asset turnover | 0.07x | Revenue / average total assets. |
Per share
| Metric | Value | How it is calculated |
|---|---|---|
| EPS, diluted | $0.14 | Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS. |
| Revenue per share | $2.13 | Revenue / diluted weighted shares. |
| Operating cash flow per share | $1.17 | Cash from operations / diluted weighted shares. |
| Book value per share | $15.49 | Shareholders' equity / shares outstanding (diluted weighted shares when not reported). |
| Tangible book per share | $13.55 | Tangible book value / shares outstanding. |
| Cash per share | $0.20 | (Cash + short-term investments) / shares outstanding. |
| Payout ratio | 565.8% | Dividends paid / net income, when net income is positive. |
Valuation
| Metric | Value | How it is calculated |
|---|---|---|
| Market cap | $1.85B | Share price x shares outstanding. |
| Enterprise value | $3.22B | Market cap + total debt - cash - short-term investments. |
| P/E | 133x | Market cap / net income. Only when net income is positive. |
| P/S | 8.44x | Market cap / revenue. |
| P/B | 1.18x | Market cap / shareholders' equity. Only when equity is positive. |
| Price / tangible book | 1.34x | Market cap / tangible book value, when positive. |
| P/OCF | 15.4x | Market cap / cash from operations, when positive. |
| EV/Sales | 14.7x | Enterprise value / revenue. |
| Earnings yield | 0.8% | Net income / market cap (the inverse of P/E). |
| Dividend yield | 4.3% | Dividends paid over the period / market cap. |
| Shareholder yield | 4.4% | (Dividends paid + share buybacks) / market cap. |
What was NETSTREIT Corp.'s revenue in fiscal 2025?
NETSTREIT Corp. reported revenue of $195.0M for fiscal 2025, 19.8% higher than the year before.
Was NETSTREIT Corp. profitable in fiscal 2025?
Yes. Net income was $6.9M, a net margin of 3.5%.