NNN REIT (NNN) FY2023 results: revenue $828 million, up 7.1% on the year
NNN REIT, Inc. (NNN) reported revenue of $828 million for fiscal 2023, the year ended 31 December 2023, up 7.1% on the year before. Net income was $392 million, up 17.2%, and diluted earnings per share $2.16. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2024.
Revenue
$828 million
+7.1% on the year
FY2016FY2023
Operating margin
67.0%
62.4% a year earlier
FY2016FY2023
Net income
$392 million
+17.2% on the year
FY2016FY2023
Diluted EPS
$2.16
+14.3% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
612
578
568
+5.9%
Cash from investing
-681
-778
-432
Cash from financing
66.6
34.7
-232
+91.8%
Depreciation and amortisation
239
224
205
+6.6%
Share-based compensation
12.2
15.4
14.3
-20.8%
Dividends paid
404
381
367
+6.3%
Dividend per share
$2.23
$2.16
$2.10
+3.2%
Diluted shares, weighted
182m
177m
175m
+2.6%
Shares outstanding at period end
182m
181m
176m
+0.6%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
4,157
4,124
3,902
+0.8%
Non-controlling interest
n/a
0.0
0.0
Debt
4,361
3,916
3,736
+11.4%
Other liabilities
144
106
114
+35.2%
Total liabilities and equity
8,662
8,146
7,751
+6.3%
Cash and equivalents
1.2
2.5
171
-52.5%
Other assets
8,661
8,144
7,580
+6.4%
Total assets
8,662
8,146
7,751
+6.3%
10-K for the year ended 31 December 2023, filed 8 February 2024: the filing.