Nnn Reit (NNN) Operating Expenses (2009 - 2026)
Nnn Reit's (NNN) quarterly Operating Expenses came in at $106.0 million in Q1 2026, up 16.68% YoY from $90.8 million in Q1 2025, and little changed on a QoQ basis from $105.5 million in Q4 2025.
Nnn Reit (NNN) Operating Expenses (2009 - 2026) Analysis & Trends
Nnn Reit (NNN) has 18 years of Operating Expenses data on file, last reported at $106.0 million in Q1 2026.
- Quarterly Operating Expenses rose 16.68% year-over-year to $106.0 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $400.1 million (up 16.78% YoY) and the FY2025 annual result came in at $384.9 million, up 15.36% from the prior year.
- Operating Expenses was little changed at $106.0 million in Q1 2026, from $105.5 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $106.0 million in Q1 2026 to a low of $74.0 million in Q3 2022.
- A 5-year average of $85.5 million and a median of $82.2 million in 2024 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2023 — Operating Expenses decreased 3.54% — and 2025, when it increased 21.47%.
- Tracing NNN's Operating Expenses over 5 years: stood at $77.0 million in 2022, then gained by 8.83% to $83.8 million in 2023, then gained by 3.61% to $86.8 million in 2024, then advanced by 21.47% to $105.5 million in 2025, then climbed by 0.46% to $106.0 million in 2026.
- The last three Operating Expenses figures came in at $106.0 million (Q1 2026), $105.5 million (Q4 2025), and $95.5 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Simon Property | 72.62 Bn | 72.62 Bn | 1.76 Bn | 900.79 Mn |
| 2 | Realty Income | 57.85 Bn | 57.85 Bn | - | 1.19 Bn |
| 3 | Kimco Realty | 16.14 Bn | 16.14 Bn | 455.67 Mn | 356.02 Mn |
| 4 | Federal Realty Investment Trust | 10.05 Bn | 10.05 Bn | 271.22 Mn | 217.66 Mn |
| 5 | Agree Realty | 8.86 Bn | 8.85 Bn | - | 112.31 Mn |
| 6 | Nnn Reit | 8.69 Bn | 8.69 Bn | - | 102.00 Mn |
| 7 | Macerich | 6.67 Bn | 6.67 Bn | 171.77 Mn | 277.43 Mn |
| 8 | Essential Properties Realty Trust | 6.53 Bn | 6.53 Bn | - | 62.12 Mn |
| 9 | Kite Realty Group Trust | 5.31 Bn | 5.31 Bn | - | 150.10 Mn |
| 10 | Phillips Edison & Company | 5.01 Bn | 5.01 Bn | - | 135.01 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 102.00 Mn |
| Mar 31, 2026 | 105.96 Mn |
| Dec 31, 2025 | 105.48 Mn |
| Sep 30, 2025 | 95.45 Mn |
| Jun 30, 2025 | 93.20 Mn |
| Mar 31, 2025 | 90.82 Mn |
| Dec 31, 2024 | 86.83 Mn |
| Sep 30, 2024 | 82.78 Mn |
| Jun 30, 2024 | 82.17 Mn |
| Mar 31, 2024 | 81.91 Mn |
| Dec 31, 2023 | 83.81 Mn |
| Sep 30, 2023 | 77.46 Mn |
| Jun 30, 2023 | 77.85 Mn |
| Mar 31, 2023 | 81.38 Mn |
| Dec 31, 2022 | 77.01 Mn |
| Sep 30, 2022 | 74.01 Mn |
| Jun 30, 2022 | 80.71 Mn |
| Mar 31, 2022 | 76.23 Mn |
| Dec 31, 2021 | 78.22 Mn |
| Sep 30, 2021 | 73.44 Mn |