Is it safe?
Can NNN take a bad year?
NNN REIT, Inc. carries $343M of net debt at 0.40× EBITDA: a load its earnings can carry.
$343M
Net debt · as at Q4 2025 · under two and a half years of EBITDA, comfortable
- Net debt / EBITDA
- 0.40×
Net debt / EBITDA · −0.01× a year ago · the load is going up
- Interest cover
- 2.89×
Interest cover · operating profit covers the interest bill, with room to spare
- Annualised volatility
- 18%
Annualised volatility · about as steady as the market itself
Details›
- Total debtQ4 2025
- $348M
- Cash and short-term investments
- $5.0M
- Net debt
- $343M
- EBITDA, trailing twelve months
- $858M
- Operating profit, trailing twelve months
- $589M
- Debt / equity
- 0.08×
- Total debt / EBITDA
- 0.41×
- Annualised volatilitytwo years of daily moves
- 18%
- Worst drawdown on file
- −55%
- Below its 52-week high
- −7.9%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.