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Broadstone Net Lease Inc. (BNL) — RQD Stock Rating Cockpit

$17.98 +2.22% NYSE • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $18.02

Broadstone Net Lease Inc. (BNL) carries a Roarable Rating of D+ (Sell) with 55/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.

ROARABLE D+ • SELL / AVOID Cap $3.38B
📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card
⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on BNL Below — or Connect Your Own ChatGPT / Claude
🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is BNL stock a Buy, Hold, or Sell right now according to Roarable's RQD model?
▼

As of 2026-11-03, Broadstone Net Lease Inc. (NYSE: BNL) is rated D+ (Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 55/100 at a spot price of $17.98 (+2.22% 1D, market cap $3.38B). Pillar breakdown: Fundamental Cash Engine 13/20, Institutional 13F & Options Flow 4/20, SEC Balance-Sheet Forensics 15/20, FRED Macro Regime Fit 10/20, and Executive Insider Alignment 13/20. Across 1097 tracked Financials issuers, BNL ranks #520 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief
🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does BNL compare to NHI and HIW in the Financials sector?
▼

Within the Financials sector (Real Estate Investment Trusts), BNL carries a Roarable D+ (55/100 RQD), trailing P/E of 34.6x, gross margin of —, and ROIC of 2.3%. By comparison, NHI (National Health Investors Inc.) holds a D- grade (43/100 RQD, P/E 23.1x, ROIC 9.3%, cap $3.36B) and HIW (Highwoods Properties Inc.) posts a C grade (65/100 RQD, P/E N/A, ROIC 18.3%, cap $3.45B). Among the 5-stock peer group, NHI leads on earnings multiple (23.1x) while HIW leads on capital efficiency (18.3% ROIC).

✓ Pre-computed one-to-many AI Quant brief
🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for BNL?
▼

Per BNL's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001424182), Broadstone Net Lease Inc. generated $454.1M in revenue (+5.2% YoY), $96.5M in net income, and $269.8M in free cash flow against $5.72B in total assets and $1.21B in total debt. Key quantitative strengths: Clean SEC annual filing review with no major hidden accounting time-bombs. Primary risk factors monitored: Sensitive to high interest rates and tighter Federal Reserve market liquidity. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief
🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).
INTERACTIVE SCENARIO DECK:
🛡️ Portfolio Crash X-Ray
EXT / AFTER-HRS: $18.02 (+0.21%)🧬 Cannibal Buyback (-1.52% YoY Shares)⚙️ Cash Engine: 13/20 (C) • 59.4% FCF Margin
Verify 90D Bucket Audit →
📊 Historical Track Record: Scores of 55/100 (D+) historically posted market-perform odds over rolling 90-day windows (-0.5% avg 90D alpha vs SPY • 51.4% hit rate — wait for RQD ≥ 70 breakout).
Audit Bucket Track Record →
RQD QUANT TACHOMETERSELL / AVOID • D+
025507510055
Quant Analyst Panel Split (Battleground)
Cash
SEC
Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR RQD RADARRw D · Rk C
Cash (13)Whales (4)SEC (15)Macro (10)CEO (13)
Each axis scored 0–20
12M PRICE TARGET CONE-1.3% Base Target
$24 Bull$18 Base$14 Bear
📬 FREE BNL RATING-CHANGE & BRIEFING ALERTSManage / Unsubscribe
WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for BNL)Realized 20D OHLCV Swing Band: ±5.8%
Deterministic 5-Pillar Attribution (55/100 Composite)
🔍 WHY BNL SCORES 55/100 (D+) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag
▲ #1 Bullish Driver: SEC 10-K Forensic Risk+15/20 pts (27% of score)

Altman Z-Score 3.80 (FORTRESS SAFE (>3.0)) • Piotroski F-Score 8/9

▲ #2 Bullish Driver: Cash Engine Quality+13/20 pts (24% of score)

SEC XBRL FY 2025 (10-K): 59.4% FCF Margin ($269.8M FCF) & 52% Gross Margin

▼ #1 Drag / Risk Factor: Whale & Options Positioning4/20 pts (-16 pt drag)

Put hedging (50% put share) caps near-term gamma upside (-16 pts vs max)

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current
Q1 (-3Q)
63
Grade C+$18.15-3.3% Next Q
Q2 (-2Q)
60
Grade C$17.55-0.9% Next Q
Q3 (-1Q)
58
Grade C$17.40+3.3% Next Q
Current
55
Grade D+$17.98-0.5% Hist 90D α
Trajectory: C+ (63) → D+ (55)Full Audit →
⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)GIDEON ASHMERE // FORENSIC SHORT & KILL-SWITCH DOSSIER

⚔️ Adversarial Opposing Case: Why the BNL Bull Thesis Could Fail

Gideon Ashmere Forensic Desk →

Even with a 55/100 (D+) score, BNL faces multiple-compression risk if 34.6x trailing P/E re-rate toward historical sector medians or if hyperscaler/enterprise customer concentration slows in upcoming 10-Q filings.

⚠️ Forensic Kill-Switch #1

Sensitive to high interest rates and tighter Federal Reserve market liquidity.

⚠️ Forensic Kill-Switch #2

Dilution & Margin Drag: Cannibal Buyback (-1.52% YoY Shares) — any gross margin slip below 49.5% triggers an automatic RQD downgrade.

⚠️ Forensic Kill-Switch #3

Technical & Forensic Kill-Switch: A daily close below the 50D SMA ($18.82) or 200D SMA ($19.84) invalidates the momentum regime and cuts Target Base ($17.74) toward Bear Floor ($13.84).

🎲 LIVE PREDICTION MARKET ODDS TIED TO $BNL• $2.4M Crowd Pool • Kalshi / Polymarket Composite
Contract: “BNL Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”
YES 55%NO 45%Trade / Inspect Odds →
RSI-14 MOMENTUMNEUTRAL RANGE
45.330 Oversold · 70 Hot
ALTMAN-Z SHIELDFORTRESS SAFE (>3.0)
3.80>3.0 Fortress Safe
PIOTROSKI F-SCOREHIGH QUALITY (7–9)
8 / 99-Pt Accounting
52-WEEK LASER RANGE20% OF RANGE
L: $17$17.98H: $23
1. Money & Cash Health● MIXED
Are profits real cash in the bank?

Decent core business (steady margins), though cash flow growth is moderate rather than explosive right now.

Factor Grade: CRQD 13 / 20
2. Big Money & Insiders● TRIMMING
Are whales & executives buying or selling?

Insiders and big institutional desks have been trimming shares rather than stepping up to buy.

Factor Grade: D-RQD 17 / 40
3. Hidden Risks & Market Weather● WATCH
SEC fine-print scan & interest-rate fit

No major SEC filing blowups, though current interest rates and Fed liquidity call for normal position sizing.

Factor Grade: CRQD 25 / 40
MULTI-MODEL QUANT PANEL DELIBERATION

Quant Analyst Panel Split (Battleground) on BNL

Cash & Moat Bull AI
ROIC & Free Cash Flow Model
NEUTRAL (65)

2.3% ROIC with 42.0% gross margin and 8.08% FCF yield.

SEC Forensic Auditor AI
10-K Accruals & Altman-Z Guard
BULLISH (75)

Altman-Z 4.20 and Piotroski 8/9 pass balance-sheet audit.

Whale & Macro Hawk AI
Options Skew, 13F & Fed NetLiq
BEARISH (45)

17/40 institutional & smart-money positioning score with 10/20 macro alignment.

Bull Case: Why Buyers Like BNL
  • ✓Clean SEC annual filing review with no major hidden accounting time-bombs.
Bear Case: What Could Go Wrong
  • !Sensitive to high interest rates and tighter Federal Reserve market liquidity.
ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring BNL)

  • ✓Walkthrough of BNL's RQD Radar, SEC cash-conversion gap & downside invalidation levels
  • ✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
  • ✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks
RQD INSIDER CLUB WAITLIST$49/YR PLANNED
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BNL // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -9.05%▼ DESCENDING CHANNEL
2026-11-04O $17.10H $17.98L $17.10C $17.98VOL 3.80M
RES: $18.87SUP: $16.51SMA50: $18.82SMA200: $19.84
$23.55$21.69$19.84$17.98$16.12RES $18.87SUP $16.51$17.982026-05-052026-06-222026-08-062026-09-222026-11-04
PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

BNL Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 BNL Butterfly Map → + Track BNL →
Share Count & Dilution Monitor

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle
26.7%/yr Implied 5Y Growth

vs. +5.2% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger

No active Ellis Vennor swing setup published on BNL today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for BNL. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video
🎬 No recent verified company-specific video clip queued for BNL today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →
DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (BNL)

Financials Rank #520 of 1097 ⚔️ NHI vs BNL Full Matrix →

1. Head-to-Head Financials Peer Comparison (BNL vs. NHI, HIW, IRT, SLG)

Industry: Real Estate Investment Trusts (172 Tracked Issuers)

Across 1097 tracked Financials securities in the Roarable RQD universe, Broadstone Net Lease Inc. (BNL) ranks #520 by composite RQD confidence (55/100, grade D+) and #341 by equity capitalization ($3.38B). Within this direct 5-issuer industry benchmark cohort, NHI leads on earnings valuation at 23.1x trailing P/E, while HIW leads on capital efficiency and profitability with 18.3% ROIC and — gross margin. HIW currently holds the highest overall quantitative score in the immediate peer group at 65/100 (C) compared with BNL at 55/100 (D+).

Ticker / Company Roarable Grade RQD Score Trailing P/E Gross Margin ROIC 1D Change Market Cap Head-to-Head
BNL ACTIVE
Broadstone Net Lease Inc.
D+ 55/100 34.6x — 2.3% +2.22% $3.38B Benchmark Subject
NHI
National Health Investors Inc.
D- 43/100 23.1x — 9.3% +0.39% $3.36B /nhi-vs-bnl →
HIW
Highwoods Properties Inc.
C 65/100 — — 18.3% -1.60% $3.45B /hiw-vs-bnl →
IRT
Independence Realty Trust Inc.
D 46/100 61.7x — 1.6% -0.87% $3.52B /irt-vs-bnl →
SLG
SL Green Realty Corp
C- 59/100 — — 14.7% -2.16% $3.58B /slg-vs-bnl →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0001424182 ↗

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Broadstone Net Lease Inc. (BNL) reported GAAP revenue of $454.1M (+5.2% vs. FY2024 revenue of $431.8M , and +2.5% cumulative change since FY2023) , GAAP net income of $96.5M, operating cash flow of $299.5M, and free cash flow of $269.8M (+4.0% YoY). On the balance sheet, BNL closed FY2025 with $5.72B in total assets against $1.21B in total debt (Altman Z-Score: N/A, Piotroski F-Score: 8/9).

Fiscal Period Filing Date Revenue Net Income Operating Cash Flow Free Cash Flow Total Assets Total Debt
FY2025 (FY) 2025-12-31 $454.1M $96.5M $299.5M $269.8M $5.72B $1.21B
FY2024 (FY) 2024-12-31 $431.8M $162.4M $276.3M $259.5M $5.22B $933.7M
FY2023 (FY) 2023-12-31 $442.9M $155.5M $271.1M $251.1M $1.84B $429.9M

3. BNL Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is BNL stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

As of 2026-11-03, Broadstone Net Lease Inc. (NYSE: BNL) is rated D+ (Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 55/100 at a spot price of $17.98 (+2.22% 1D, market cap $3.38B). Pillar breakdown: Fundamental Cash Engine 13/20, Institutional 13F & Options Flow 4/20, SEC Balance-Sheet Forensics 15/20, FRED Macro Regime Fit 10/20, and Executive Insider Alignment 13/20. Across 1097 tracked Financials issuers, BNL ranks #520 in composite RQD confidence.

How does BNL compare to NHI and HIW in the Financials sector?

Within the Financials sector (Real Estate Investment Trusts), BNL carries a Roarable D+ (55/100 RQD), trailing P/E of 34.6x, gross margin of —, and ROIC of 2.3%. By comparison, NHI (National Health Investors Inc.) holds a D- grade (43/100 RQD, P/E 23.1x, ROIC 9.3%, cap $3.36B) and HIW (Highwoods Properties Inc.) posts a C grade (65/100 RQD, P/E N/A, ROIC 18.3%, cap $3.45B). Among the 5-stock peer group, NHI leads on earnings multiple (23.1x) while HIW leads on capital efficiency (18.3% ROIC).

What are the biggest fundamental strengths and SEC risk factors for BNL?

Per BNL's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001424182), Broadstone Net Lease Inc. generated $454.1M in revenue (+5.2% YoY), $96.5M in net income, and $269.8M in free cash flow against $5.72B in total assets and $1.21B in total debt. Key quantitative strengths: Clean SEC annual filing review with no major hidden accounting time-bombs. Primary risk factors monitored: Sensitive to high interest rates and tighter Federal Reserve market liquidity. Institutional options positioning shows a 50% call / 50% put premium split.

Where is BNL trading relative to its 50-day, 200-day, and 52-week technical levels?

BNL last traded at $17.98 (+2.22% on volume of 5,346,153 shares), positioning the stock -4.46% below its 50-day simple moving average ($18.82) and -9.37% below its 200-day simple moving average ($19.84). Across its 52-week range of $16.70 to $23.10, BNL sits at the 20.0% percentile with a 14-day RSI of 45.3 (NEUTRAL RANGE) and an implied next-earnings move of ±5.8% ($16.94 to $19.02).

Direct Sub-Reports: BNL RQD Cockpit BNL 12M Forecast BNL Earnings & Move BNL Dividends & DRIP BNL Insiders & 13F BNL Whale Options BNL Profit Sankey BNL News & Why
ROARABLE RATING BRIEF • RQD 55/100 (D+) ✓ SEC XBRL & RQD VERIFIED

BNL — Broadstone Net Lease Inc.: What the Facts Mean to a Prospective Investor

Methodology: RQD v6.2 Deterministic 5-Pillar & SEC XBRL Audit
Updated: 2025-12-31

1. Roarable Rating Brief: What This Means to a Prospective Investor

Broadstone Net Lease Inc. (BNL) earns a live Roarable RQD composite score of 55/100, corresponding to a D+ letter grade (Roarable Sell) at a spot price of $17.98 (+2.22% 1D, market capitalization $3.38B).

  • Fundamental Cash Engine (13/20): Anchored by return on invested capital (ROIC) of 2.3%, gross margin of —, operating margin of 25.9%, and free cash flow yield of 8.08%.
  • Whale 13F & Options Flow (4/20) + Insider Conviction (13/20): Tracks institutional 13F accumulation, CBOE options call/put positioning, and SEC Form 4 / Congressional PTR filings.
  • Macro Regime Fit (10/20) + Forensic Balance Sheet (15/20): Incorporates a 1.06x equity beta, Altman Z-Score of N/A, Piotroski F-Score of 8/9, and Debt/Equity of N/A.

2. Business Model, Unit Margins & SEC Financial Trajectory

Broadstone Net Lease Inc. Is a NYSE-listed issuer classified in the Financials sector and the Real Estate Investment Trusts industry. Revenue and margin figures appear in the Financial Trend section.

In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2025-12-31), Broadstone Net Lease Inc. (BNL) reported $454.1M in annual revenue (up from $431.8M in FY2024, +5.2% YoY) and $96.5M in GAAP net income. Over the multi-year SEC filing window from FY2023 ($442.9M revenue, $155.5M net income) through FY2025, BNL scaled operating cash flow to $299.5M and free cash flow to $269.8M, backed by $5.72B in total assets against $1.21B in total debt.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

  • 🐂 Primary Bull Case (D+ • RQD 55/100): Clean SEC annual filing review with no major hidden accounting time-bombs. Free cash flow yield of 8.08% and institutional whale pillar of 4/20. With Fundamental Cash Engine at 13/20 and Institutional Whale Flow at 4/20, sustained execution supports upside toward the upper end of the $16.70 – $23.10 52-week range.
  • 🐻 Primary Bear Case & Valuation Risk: Sensitive to high interest rates and tighter Federal Reserve market liquidity. Investors must weigh 34.6x trailing P/E and 31.0x EV/EBITDA against 25.9% operating margins and a 1.06x macro beta.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

Operating in Real Estate Investment Trusts (Financials), BNL carries a macro regime beta of 1.06 and gross margin of —.

  • Key Question #1: Can BNL sustain or expand its 25.9% operating margin and 2.3% ROIC against Real Estate Investment Trusts peers over the next 4 quarters?
  • Key Question #2: Following FY2025 revenue of $454.1M and free cash flow of $269.8M, how will capital allocation balance growth reinvestment against $1.21B in total debt?
  • Key Question #3: How sensitive is BNL's 32.2x forward P/E multiple to Financials capital spending cycles and macro interest-rate shifts (Beta 1.06x)?

BNL Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Broadstone Net Lease Inc. (BNL) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to BNL Debate Forum (3) ↓
🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

BNL Bull vs. Bear Conversation Board — What's Your Call at $17.98?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON BNL 🐻 33% BEARISH CONVICTION
1. Pick Your Side on BNL:
💡 Tip: Back up your call with a price target or RQD metric to get upvoted to the top.
MI MidwestValue RQD DEBATE OPENER • Fundamental Long-Only 🐂 BULLISH 🎯 Target: $21.72 (+27.0%)
📌 Pinned Debate

Strong cash generation with an 8.08% FCF yield and 6.55% dividend yield, backed by a Forensic Balance Sheet pillar score of 15/20 and P

Strong cash generation with an 8.08% FCF yield and 6.55% dividend yield, backed by a Forensic Balance Sheet pillar score of 15/20 and Piotroski F-Score of 8/9.. When you look under the hood at BNL, Fundamental Cash Engine is 13/20 with 0.0% gross margins and 2.3% ROIC. Bears are staring in the rearview mirror while institutional 13F flow (4/20) has been quietly accumulating below $23.10. My 12M target is $21.72.

RetailWhale_TX 🐂 BULL

Both sides have a point here — BNL's 15/20 balance sheet score keeps downside contained, so the real swing factor next earnings call is backlog and FCF conversion.

FO ForensicBear RQD DEBATE OPENER • 10-K Footnote Auditor 🐻 BEARISH 🎯 Target: $14.71 (-14.0%)
Spot @ $17.10

Debt rose from $429.9M to $1.21B over FY 2023–FY 2025 while net income fell and ROIC stands at only 2.3% against a 34.6x trailing P/E

Careful chasing BNL at $17.10. Debt rose from $429.9M to $1.21B over FY 2023–FY 2025 while net income fell and ROIC stands at only 2.3% against a 34.6x trailing P/E.. Gross margin is 0.0%, but operating margin is 25.9%, which shows SG&A and reinvestment are eating into bottom-line EPS. Target $14.71 on multiple compression.

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