Broadstone Net Lease (BNL) Operating Expenses (2016 - 2026)
Broadstone Net Lease's (BNL) quarterly Operating Expenses came in at $58.1 million in Q1 2026, down 17.98% year-on-year from $70.8 million in Q1 2025, and down 6.94% on a QoQ basis from $62.4 million in Q4 2025.
Broadstone Net Lease (BNL) Operating Expenses (2016 - 2026) Analysis & Trends
Broadstone Net Lease (BNL) has 11 years of Operating Expenses data on file, last reported at $58.1 million in Q1 2026.
- On a quarterly basis, Operating Expenses fell 17.98% year-over-year to $58.1 million in Q1 2026; TTM through Mar 2026 was $252.9 million, a 2.5% decrease from a year earlier, with the FY2025 full-year figure at $265.7 million, down 0.83% from the prior year.
- Operating Expenses for Q1 2026 stood at $58.1 million, down from $62.4 million in the prior quarter.
- Over the last five years, Operating Expenses for BNL reached as high as $84.5 million in Q4 2023 and fell as low as $48.2 million in Q1 2022.
- Historically, Operating Expenses has averaged $62.5 million across 5 years, with a median of $59.6 million in 2023.
- Across the five-year window, Operating Expenses slipped 22.26% in 2022 and soared 37.73% in 2023, its largest moves.
- Year by year, Operating Expenses stood at $61.3 million in 2022, then jumped by 37.73% to $84.5 million in 2023, then decreased by 8.39% to $77.4 million in 2024, then retreated by 19.37% to $62.4 million in 2025, then slipped by 6.94% to $58.1 million in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $58.1 million in Q1 2026, $62.4 million in Q4 2025, and $63.4 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Vici Properties | 28.12 Bn | 27.64 Bn | 1.01 Bn | 15.98 Mn |
| 2 | W. P. Carey | 16.60 Bn | 16.61 Bn | 434.82 Mn | 255.10 Mn |
| 3 | Broadstone Net Lease | 4.29 Bn | 4.40 Bn | - | 58.06 Mn |
| 4 | American Assets Trust | 1.47 Bn | 1.41 Bn | - | 86.87 Mn |
| 5 | Safehold | 1.15 Bn | -2.44 Bn | 109.54 Mn | 85.31 Mn |
| 6 | Empire State Realty Trust | 930.17 Mn | 1.66 Bn | - | 160.87 Mn |
| 7 | Cim | 917.30 Mn | 735.54 Mn | - | 64.12 Mn |
| 8 | JBG SMITH Properties | 855.38 Mn | 1.35 Bn | - | 135.70 Mn |
| 9 | CTO Realty Growth | 725.13 Mn | 725.13 Mn | 31.01 Mn | 30.88 Mn |
| 10 | Gladstone Commercial | 618.64 Mn | 788.68 Mn | - | 25.24 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 58.06 Mn |
| Dec 31, 2025 | 62.39 Mn |
| Sep 30, 2025 | 63.42 Mn |
| Jun 30, 2025 | 69.09 Mn |
| Mar 31, 2025 | 70.79 Mn |
| Dec 31, 2024 | 77.37 Mn |
| Sep 30, 2024 | 54.81 Mn |
| Jun 30, 2024 | 56.46 Mn |
| Mar 31, 2024 | 79.26 Mn |
| Dec 31, 2023 | 84.46 Mn |
| Sep 30, 2023 | 54.38 Mn |
| Jun 30, 2023 | 53.50 Mn |
| Mar 31, 2023 | 59.56 Mn |
| Dec 31, 2022 | 61.32 Mn |
| Sep 30, 2022 | 59.13 Mn |
| Jun 30, 2022 | 50.88 Mn |
| Mar 31, 2022 | 48.16 Mn |
| Dec 31, 2021 | 46.65 Mn |
| Sep 30, 2021 | 76.07 Mn |
| Jun 30, 2021 | 44.45 Mn |