NNN NNN REIT margins

Relative Growth: Rel. Growth: 53

Relative Strength: Rel. Strength: 42

Relative Valuation: Rel. Valuation: 42

Relative Profitability: Rel. Profitability: 81

Gross margin

100%

Operating margin

57.2%

EBITDA margin

91.8%

Net margin

40.4%

The NNN REIT shows a gross margin of 100%, an operating margin of 57.2%, an EBITDA margin of 91.8%, and a net margin of 40.4%. Net margin declined by 3.5 percentage points, while other available margins were stable.

NNN margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, NNN REIT's margins averaged 100% gross, 60.26% operating, 94.55% EBITDA, and 44.49% net. Currently, operating, EBITDA, and net margins are below their three-year averages.

NNN margin expansion

Year-over-year margin changes in percentage points

Operating margin contracted by 3.3 percentage points, EBITDA margin by 2.4 percentage points, and net margin by 3.5 percentage points, while gross margin was unchanged.

Gross margin expansion

0pp

Operating margin expansion

-3.3pp

EBITDA margin expansion

-2.4pp

Net margin expansion

-3.5pp

NNN Gross margin

NNN REIT recorded an average gross margin of 100% across the last 3 years. NNN REIT currently reports a gross margin of 100%, in line with its three-year average. The gross margin for NNN REIT moved between 100% in Dec 2023 and 100% in Jun 2026.

NNN Operating margin

NNN REIT's operating margin averaged 60.26% over the last 3 years. Compared with its three-year average, NNN REIT's current operating margin is 57.2% and is 3.1 percentage points below its three-year average. Over the last 3 years, NNN REIT's operating margin peaked at 61.9% in Sep 2024 and reached a low of 57.2% in Jun 2026.

NNN EBITDA margin

NNN REIT's EBITDA margin averaged 94.55% during the last 3 years. The current EBITDA margin stands at 91.8%, 2.8 percentage points below its three-year average. Over the last 3 years, NNN REIT's EBITDA margin peaked at 96.4% in Jun 2024 and reached a low of 91.8% in Jun 2026.

NNN Net margin

In the last 3 years, NNN REIT had an average net margin of 44.49%. NNN REIT currently reports a net margin of 40.4%, 4.1 percentage points below its three-year average. Looking back over the last 3 years, NNN REIT's net margin reached 47.4% at its highest point in Jun 2024 and 40.4% at its lowest in Jun 2026.

NNN margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 100%, NNN is above the Real Estate sector and the industry average. Compared to its Real Estate sector average of 62.8%, NNN REIT's gross margin is 59% higher.

NNN margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is NNN REIT's gross margin?

As of Jun 30, 2026, NNN has a gross margin of 100%.

What is NNN REIT's operating margin?

As of Jun 30, 2026, NNN has an operating margin of 57.2%.

What is NNN REIT's EBITDA margin?

For the period ending Jun 30, 2026, NNN recorded an EBITDA margin of 91.8%.

What is NNN REIT's net margin?

For the period ending Jun 30, 2026, NNN recorded a net margin of 40.4%.

What are the average margins of NNN?

Over the last 3 years, NNN REIT's margins averaged 100.0% gross, 60.3% operating, 94.6% EBITDA, and 44.5% net.

What are the highest historical margins of NNN?

Looking back across 5 years, NNN reached 100% gross in Jun 2026, 61.9% operating in Sep 2024, 96.4% EBITDA in Jun 2024, and 47.7% net in Sep 2023.

What are the lowest historical margins of NNN?

Over this 5-year history, NNN REIT's margins fell as low as 100% gross in Dec 2021, 57.2% operating in Jun 2026, 87.2% EBITDA in Dec 2021, and 39.9% net in Dec 2021.