NNN
National Retail Properties
PE ratio, current and historical analysis
- Stocks
- Real Estate
- NYSE: NNN
- PE Ratio
As of Jun 22, 2026, the National Retail Properties stock's PE ratio is 22.03. This takes into account the latest EPS of $2.05 and stock price of $45.16. The PE ratio marks an increase of 10% from its last 4 quarters average of 20.1.
NNN PE ratio history
The PE ratio of National Retail Properties has averaged 27.18 over the last ten years. The current P/E ratio of 22.03 is 19% lower than the historical average. Looking back at the last ten years, NNN's PE ratio peaked in the Sep 2019 quarter at 40.87, when the price was $56.4 and the EPS was $1.38. The lowest point was in the Sep 2023 quarter, when it reached 16.59 with a price of $35.34 and an EPS of $2.13.
National Retail Properties PE ratio by year
Maximum annual increase: 16.9% in 2019
Maximum annual decrease: -23.94% in 2022
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2025 | 19.14 | 1.22% | $39.63 | $2.07 |
| 2024 | 18.91 | -5.21% | $40.85 | $2.16 |
| 2023 | 19.95 | -17.6% | $43.1 | $2.16 |
| 2022 | 24.21 | -23.94% | $45.76 | $1.89 |
| 2021 | 31.83 | -5.1% | $48.07 | $1.51 |
| 2020 | 33.54 | -2.41% | $40.92 | $1.22 |
| 2019 | 34.37 | 16.9% | $53.62 | $1.56 |
| 2018 | 29.4 | -1.14% | $48.51 | $1.65 |
| 2017 | 29.74 | -6.48% | $43.13 | $1.45 |
| 2016 | 31.8 | -3.93% | $44.2 | $1.39 |
| 2015 | 33.1 | 4.25% | $40.05 | $1.21 |
| 2014 | 31.75 | 16.22% | $39.37 | $1.24 |
| 2013 | 27.32 | -1.05% | $30.33 | $1.11 |
| 2012 | 27.61 | 0.47% | $31.2 | $1.13 |
| 2011 | 27.48 | -17.05% | $26.38 | $0.96 |
National Retail Properties PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Mar 2026 | 20.5 | 7.11% | $42.03 | $2.05 |
| Dec 2025 | 19.14 | -5.57% | $39.63 | $2.07 |
| Sep 2025 | 20.27 | -0.49% | $42.57 | $2.1 |
| Jun 2025 | 20.37 | 3.14% | $43.18 | $2.12 |
| Mar 2025 | 19.75 | 4.44% | $42.65 | $2.16 |
| Dec 2024 | 18.91 | -15.77% | $40.85 | $2.16 |
| Sep 2024 | 22.45 | 16.99% | $48.49 | $2.16 |
| Jun 2024 | 19.19 | -2.14% | $42.6 | $2.22 |
| Mar 2024 | 19.61 | -1.7% | $42.74 | $2.18 |
| Dec 2023 | 19.95 | 20.25% | $43.1 | $2.16 |
| Sep 2023 | 16.59 | -20.92% | $35.34 | $2.13 |
| Jun 2023 | 20.98 | -8.74% | $42.79 | $2.04 |
| Mar 2023 | 22.99 | -5.04% | $44.15 | $1.92 |
| Dec 2022 | 24.21 | 6.28% | $45.76 | $1.89 |
| Sep 2022 | 22.78 | -9.92% | $39.86 | $1.75 |
NNN Price vs fair value
NNN average PE ratio chart
What this chart measures
The Historical Valuation Regime chart shows where the stock's current valuation sits relative to its own historical valuation range over the selected lookback period.
This is a history-relative tool, not a market-relative percentile. It does not compare the stock to other companies. Instead, it compares each historical valuation reading to the stock's own past readings.
Percentile logic
The threshold lines are calculated them from the stock's real historical values using percentile interpolation. That is why some colored bands are narrow while others are wide: the band widths reflect how the stock actually traded through time.
Regime map
| Historical percentile | Regime | Chart meaning |
|---|---|---|
| 0-10 | Historically Low | Deep cheap zone |
| >10-25 | Below Average | Cheap relative to history |
| >25-75 | Average | Within the normal historical range |
| >75-90 | Above Average | Expensive relative to history |
| >90-100 | Historically High | Extreme or stretched valuation |
How to read each part
| Chart element | What it tells you |
|---|---|
| Main line | The actual historical valuation values over time for the selected metric. |
| Dashed horizontal lines | The stock's computed P10, P25, Median, P75, and P90 thresholds for the selected period. |
| Colored bands | The historical valuation zones between those thresholds. |
| Metric boxes | Current ratio, historical median, current percentile, and current regime. |
| Timeline strip | A condensed regime history showing how the stock moved between cheap, fair, and expensive states across each observation. |
Important metric definitions
Current Percentile is the percentile rank of the latest valid historical observation within the selected lookback range.
Current Regime is assigned directly from the latest observation's percentile bucket using the fixed 10 / 25 / 75 / 90 cutoffs shown above.
How to use it well
This chart is most useful for answering a narrow question: Is this stock trading high, low, or normal relative to its own history? It works best alongside growth, profitability, and forward-looking business analysis, because a stock can deserve a higher or lower regime if its business quality has changed.
Currently, NNN's PE ratio is higher than its 3-year average, but it is lower than its 5 and 10-year averages.
PE comparison
With a price to earnings (P/E) of 22.03, NNN ranks lower than the Real Estate sector and the industry average. In comparison with the Real Estate sector average of 23.85, National Retail Properties's price to earnings (P/E) is 8% lower.
NNN PE vs peers
NNN's PE ratio stands lower than its peer stock DKS, but it is higher than DG's and BBY's.
| Stock name | PE ratio | Market cap |
|---|---|---|
| BBY Best Buy Co Inc | 13.87 | $15.84B |
| DG Dollar General Corp | 16.14 | $25.27B |
| DKS Dick'S Sporting Goods Inc | 22.23 | $21.19B |
| NNN National Retail Properties Inc | 22.45 | $8.76B |
Frequently asked questions
What is National Retail Properties's PE ratio?
The price to earnings ratio for NNN stock is 22.03 as of Jun 22, 2026.
What is the 3-year average PE ratio for National Retail Properties (NNN)?
Over the last 3 years, the average price to earnings ratio for NNN stock is 19.81.
What is the 5-year average PE ratio for National Retail Properties (NNN)?
Over the last 5 years, the average price to earnings ratio for NNN stock is 22.83.
What is the highest PE ratio for NNN?
Over the last ten years, the quarterly PE ratio reached its highest level at 40.87 in the Sep 2019 quarter.
How does the current PE ratio for NNN compare to its historical average?
NNN's price to earnings ratio is currently 19% below its 10-year historical average.
How is NNN's PE ratio calculated (National Retail Properties PE ratio formula)?
To determine the P/E ratio, divide the latest stock price by the TTM earnings per share (EPS). As of today (Jun 22, 2026), National Retail Properties's share price is $45.16. The company's earnings per share for the trailing twelve months (TTM) ending Mar 2026 is $2.05. Therefore, National Retail Properties's PE ratio for today is 22.03. PE RATIO(22.03) = STOCK PRICE($45.16) / TTM EPS($2.05)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.