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
DateValue
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