NETSTREIT Corp.

NTST

Real EstateSmall CapUS Equities · NYSE / NASDAQ

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Company Profile

NETSTREIT Corp. is an internally managed real estate investment trust based in Dallas, Texas that specializes in acquiring single-tenant net lease retail properties nationwide. The growing portfolio consists of high-quality properties leased to e-commerce resistant tenants with healthy balance sheets. Led by a management team of seasoned commercial real estate executives, NETSTREIT's strategy is to create the highest quality net lease retail portfolio in the country with the goal of generating consistent cash flows and dividends for its investors. NETSTREIT Corp. was incorporated in 2019 in Maryland, USA.

Valuation

Market Cap$2.0B

Current Price$20.57

P/E Ratio171.42

P/B Ratio1.32

EV / EBITDA19.60

EV / Sales15.69

Profitability

Operating Margin-

Net Profit Margin3.8%

EBITDA Margin77.5%

Returns

ROE0.5%

ROCE-

ROIC %2.1%

ROA0.3%

Solvency

Current Ratio0.44

Debt / Equity0.77

Debt / Assets0.43

CFO / Net Profit15.87

Price History▲ 28.97% over 1Y

Technical Chart

Historical Performance Charts

5-year financial trends. Figures in USD millions.

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Latest fiscal year: 2025

Revenue$181M▲ 20.9%

EBITDA$141M

Net Profit$7M

Cash from Ops (CFO)$110M

Free Cash Flow (FCF)$109M

Revenue CAGR 3Y-

Revenue CAGR 5Y-

Net Profit CAGR 3Y-

Net Profit CAGR 5Y-

Historical Growth

Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)

Year	Revenue	EBITDA	Net Profit	FCF	ROE	Rev Growth 1Y	NP Growth 1Y
2025	$181M	$141M	$7M	$109M	0.5%	20.9%	-
2024	$150M	$98M	$-12M	$90M	-0.9%	21.8%	-274.6%
2023	$123M	$91M	$7M	$80M	0.5%	33.1%	-15.8%
2022	$93M	$67M	$8M	$49M	0.8%	-	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2022	2023	2024	2025
Total Revenue	92.50	123.12	150	181.38
Cost Of Revenue	10.27	15.01	16.20	18.20
Gross Profit	82.24	108.10	133.80	163.17
Operating Expense	69.13	83.85	96.59	108.10
Operating Income	13.11	24.25	37.21	55.07
EBITDA	67.32	90.80	98.24	140.58
EBIT	17.24	27.12	21.37	54.20
Pretax Income	8.60	6.84	-11.95	6.99
Tax Provision	0.40	-0.05	0.05	0.05
Net Income	8.12	6.84	-11.94	6.90
Net Income Common Stockholders	8.12	6.84	-11.94	6.90
Total Expenses	79.39	98.87	112.80	126.30
Interest Expense	8.64	20.28	33.32	47.21
Interest Income	2.35	7.39	11.56	12.62
Selling General And Administration	19.05	20.18	19.72	21.72
Normalized EBITDA	65.12	95.17	122.90	153.28
Normalized Income	6.02	10.29	7.55	19.51
Basic EPS	0.16	0.11	-0.16	0.08
Diluted EPS	0.16	0.11	-0.16	0.08
Tax Effect Of Unusual Items	0.10	-0.92	-5.18	-0.10
Tax Rate For Calcs	0.05	0.21	0.21	0.01
Total Unusual Items	2.19	-4.37	-24.66	-12.71
Total Unusual Items Excluding Goodwill	2.19	-4.37	-24.66	-12.71
Net Income From Continuing Operation Net Minority Interest	8.12	6.84	-11.94	6.90
Reconciled Depreciation	50.08	63.68	76.87	86.38
Reconciled Cost Of Revenue	10.27	15.01	16.20	18.20
Net Interest Income	-6.84	-13.79	-22.55	-35.82
Net Income From Continuing And Discontinued Operation	8.12	6.84	-11.94	6.90
Diluted Average Shares	50.43	64.67	76.52	84.20
Basic Average Shares	49.52	63.92	76.52	82.70
Diluted NI Availto Com Stockholders	8.21	6.89	-12	6.94
Average Dilution Earnings	0.09	0.05	-0.06	0.04
Minority Interests	-0.09	-0.05	0.06	-0.04
Net Income Including Noncontrolling Interests	8.21	6.89	-12	6.94
Net Income Continuous Operations	8.21	6.89	-12	6.94
Other Income Expense	2.33	-3.62	-26.61	-12.26
Other Non Operating Income Expenses	0.13	0.75	-1.94	0.44
Special Income Charges	-1.95	-7.67	-30.33	-17.53
Other Special Charges	0	0.13	0	0.05
Write Off	0	0	0	17.27
Impairment Of Capital Assets	1.11	7.08	29.97	0
Restructuring And Mergern Acquisition	0.84	0.46	0.36	0.22
Gain On Sale Of Security	4.15	3.30	5.67	4.83
Net Non Operating Interest Income Expense	-6.84	-13.79	-22.55	-35.82
Total Other Finance Cost	0.54	0.90	0.79	1.23
Interest Expense Non Operating	8.64	20.28	33.32	47.21
Interest Income Non Operating	2.35	7.39	11.56	12.62
Depreciation Amortization Depletion Income Statement	50.08	63.68	76.87	86.38
Depreciation And Amortization In Income Statement	50.08	63.68	76.87	86.38
Amortization	16.19	19.27	21.80	23.20
Amortization Of Intangibles Income Statement	16.19	19.27	21.80	23.20
Depreciation Income Statement	33.88	44.40	55.07	63.18
General And Administrative Expense	19.05	20.18	19.72	21.72
Other Gand A	19.05	20.18	19.72	21.72
Operating Revenue	93.05	123.36	150.36	181.98

Peer Comparison

Real Estate sector peers, ranked by market cap

Company	Ticker	Market Cap	P/E	P/B	ROE	EV/EBITDA
NETSTREIT Corp.this co.	NTST	$2.0B	171.42↑ premium	1.32	0.5%	19.60
Arbor Realty Trust, Inc.	ABR	$2.1B	10.30	0.66	6.4%	-
Douglas Emmett, Inc.	DEI	$1.9B	110.17	0.94	0.9%	10.72
Diversified Healthcare Trust	DHC	$1.8B	-	1.10	-17.2%	18.61
SmartStop Self Storage REIT, Inc.	SMA	$1.8B

Learn while you research

Hand-picked academy chapters to deepen your understanding of NETSTREIT Corp. and the metrics that matter.

01 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 02 Valuation Multiples Explained

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Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2025

$181M

$141M

$7M

$109M

0.5%

20.9%

2024

$150M

$98M

$-12M

$90M

-0.9%

21.8%

-274.6%

2023

$123M

$91M

$7M

$80M

0.5%

33.1%

-15.8%

2022

$93M

$67M

$8M

$49M

0.8%

Metric

2022

2023

2024

2025

Total Revenue

92.50

123.12

150

181.38

Cost Of Revenue

10.27

15.01

16.20

18.20

Gross Profit

82.24

108.10

133.80

163.17

Operating Expense

69.13

83.85

96.59

108.10

Operating Income

13.11

24.25

37.21

55.07

EBITDA

67.32

90.80

98.24

140.58

EBIT

17.24

27.12

21.37

54.20

Pretax Income

8.60

6.84

-11.95

6.99

Tax Provision

0.40

-0.05

0.05

Net Income

8.12

6.84

-11.94

6.90

Net Income Common Stockholders

8.12

6.84

-11.94

6.90

Total Expenses

79.39

98.87

112.80

126.30

Interest Expense

8.64

20.28

33.32

47.21

Interest Income

2.35

7.39

11.56

12.62

Selling General And Administration

19.05

20.18

19.72

21.72

Normalized EBITDA

65.12

95.17

122.90

153.28

Normalized Income

6.02

10.29

7.55

19.51

Basic EPS

0.16

0.11

-0.16

0.08

Diluted EPS

0.16

0.11

-0.16

0.08

Tax Effect Of Unusual Items

0.10

-0.92

-5.18

-0.10

Tax Rate For Calcs

0.05

0.21

0.01

Total Unusual Items

2.19

-4.37

-24.66

-12.71

Total Unusual Items Excluding Goodwill

2.19

-4.37

-24.66

-12.71

Net Income From Continuing Operation Net Minority Interest

8.12

6.84

-11.94

6.90

Reconciled Depreciation

50.08

63.68

76.87

86.38

Reconciled Cost Of Revenue

10.27

15.01

16.20

18.20

Net Interest Income

-6.84

-13.79

-22.55

-35.82

Net Income From Continuing And Discontinued Operation

8.12

6.84

-11.94

6.90

Diluted Average Shares

50.43

64.67

76.52

84.20

Basic Average Shares

49.52

63.92

76.52

82.70

Diluted NI Availto Com Stockholders

8.21

6.89

-12

6.94

Average Dilution Earnings

0.09

0.05

-0.06

0.04

Minority Interests

-0.09

-0.05

0.06

-0.04

Net Income Including Noncontrolling Interests

8.21

6.89

-12

6.94

Net Income Continuous Operations

8.21

6.89

-12

6.94

Other Income Expense

2.33

-3.62

-26.61

-12.26

Other Non Operating Income Expenses

0.13

0.75

-1.94

0.44

Special Income Charges

-1.95

-7.67

-30.33

-17.53

Other Special Charges

0.13

0.05

Write Off

17.27

Impairment Of Capital Assets

1.11

7.08

29.97

Restructuring And Mergern Acquisition

0.84

0.46

0.36

0.22

Gain On Sale Of Security

4.15

3.30

5.67

4.83

Net Non Operating Interest Income Expense

-6.84

-13.79

-22.55

-35.82

Total Other Finance Cost

0.54

0.90

0.79

1.23

Interest Expense Non Operating

8.64

20.28

33.32

47.21

Interest Income Non Operating

2.35

7.39

11.56

12.62

Depreciation Amortization Depletion Income Statement

50.08

63.68

76.87

86.38

Depreciation And Amortization In Income Statement

50.08

63.68

76.87

86.38

Amortization

16.19

19.27

21.80

23.20

Amortization Of Intangibles Income Statement

16.19

19.27

21.80

23.20

Depreciation Income Statement

33.88

44.40

55.07

63.18

General And Administrative Expense

19.05

20.18

19.72

21.72

Other Gand A

19.05

20.18

19.72

21.72

Operating Revenue

93.05

123.36

150.36

181.98

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

NETSTREIT Corp.this co.

NTST

$2.0B

171.42↑ premium

1.32

0.5%

19.60

Arbor Realty Trust, Inc.

ABR

$2.1B

10.30

0.66

6.4%

Douglas Emmett, Inc.

DEI

$1.9B

110.17

0.94

0.9%

10.72

Diversified Healthcare Trust

DHC

$1.8B

1.10

-17.2%

18.61

SmartStop Self Storage REIT, Inc.

SMA

$1.8B

NETSTREIT Corp.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

NETSTREIT Corp.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Key concepts to brush up on