Question 1

What is NNN REIT's P/E ratio?

Accepted Answer

NNN REIT (NNN) P/E ratio is 24.0× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for NNN REIT?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For NNN REIT specifically, the relevant sector benchmark is the current sector median of 28.1×.

Question 5

Is NNN REIT's P/E ratio high or low?

Accepted Answer

NNN REIT's P/E ratio of 24.0× is above its own 5-year average of 22.3× and below the sector median of 28.1×. That places the current reading at the 71th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is NNN REIT's historical P/E ratio range?

Accepted Answer

In the available daily series, NNN REIT (NNN) P/E ratio has ranged from a low of 7.4× in 2006 to a high of 55.6× in 2010. The 5-year average is 22.3× and the 5-year median is 20.8×.

Question 7

What was NNN REIT's P/E ratio in 2025?

Accepted Answer

NNN REIT (NNN) P/E ratio at the end of 2025 was 19.2×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does NNN REIT's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$7.48B	$390M	19.2×	+0.0×	Dec 31, 2025
2024	$7.62B	$397M	19.2×	-0.7×	Dec 31, 2024
2023	$7.82B	$392M	19.9×	-4.5×	Dec 31, 2023
2022	$8.18B	$335M	24.4×	-4.5×	Dec 31, 2022
2021	$8.4B	$290M	29.0×	-2.0×	Dec 31, 2021
2020	$7.09B	$229M	31.0×	+0.4×	Dec 31, 2020
2019	$9.16B	$299M	30.6×	+4.2×	Dec 31, 2019
2018	$7.72B	$292M	26.4×	+1.7×	Dec 31, 2018
2017	$6.55B	$265M	24.7×	-2.3×	Dec 31, 2017
2016	$6.46B	$240M	27.0×	-0.8×	Dec 31, 2016
2015	$5.49B	$198M	27.8×	+1.2×	Dec 31, 2015
2014	$5.05B	$191M	26.5×	+3.6×	Dec 31, 2014
2013	$3.67B	$160M	22.9×	-1.1×	Dec 31, 2013
2012	$3.41B	$142M	24.0×	-3.9×	Dec 31, 2012
2011	$2.57B	$92.3M	27.9×	-2.2×	Dec 31, 2011
2010	$2.2B	$73M	30.1×	-7.6×	Dec 31, 2010
2009	$1.73B	$45.9M	37.7×	+26.5×	Dec 31, 2009
2008	$1.34B	$119M	11.2×	+0.7×	Dec 31, 2008
2007	$1.66B	$157M	10.6×	+3.1×	Dec 31, 2007
2006	$1.35B	$183M	7.4×	-4.9×	Dec 31, 2006
2005	$1.1B	$89.4M	12.3×	-4.0×	Dec 31, 2005
2004	$1.06B	$64.9M	16.3×	-0.6×	Dec 31, 2004
2003	$903M	$53.5M	16.9×	+4.0×	Dec 31, 2003
2002	$618M	$48.1M	12.9×	—	Dec 31, 2002


Realty Income (O)	49.4×
Digital Realty Trust (DLR)	45.1×
Weyerhaeuser (WY)	44.4×
Agree Realty (ADC)	41.1×
Mid-America Apartment Communities (MAA)	36.5×
Tanger (SKT)	31.0×
CBRE Group (CBRE)	30.4×
Prologis (PLD)	30.0×
Extra Space Storage (EXR)	29.3×
STAG Industrial (STAG)	28.2×
American Tower (AMT)	28.0×
Camden Property Trust (CPT)	26.4×
BXP (BXP)	26.0×
Invitation Homes (INVH)	25.8×
Public Storage (PSA)	25.0×
Kimco Realty (KIM)	24.5×
UDR (UDR)	22.5×
Regency Centers (REG)	22.1×
AvalonBay Communities (AVB)	20.0×
SBA Communications (SBAC)	17.9×
Host Hotels & Resorts (HST)	13.1×
Simon Property Group (SPG)	12.9×
Arbor Realty Trust (ABR)	12.6×
VICI Properties (VICI)	9.4×
Apartment Investment and Management (AIV)	1.0×

P/E Ratio for NNN REIT (NNN) 2002-2026

P/E Ratio daily chart for NNN REIT (NNN)

Historical P/E Ratio for NNN REIT (NNN) from 2002 to 2025

About P/E Ratio at NNN REIT (NNN)

NNN REIT P/E Ratio by Year

NNN REIT P/E Ratio 2025: 19.2×

NNN REIT P/E Ratio 2024: 19.2×

NNN REIT P/E Ratio 2023: 19.9×

NNN REIT P/E Ratio 2022: 24.4×

NNN REIT P/E Ratio 2021: 29.0×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

NNN REIT (NNN) Key Financials