Question 1

What is NNN REIT's P/S ratio?

Accepted Answer

NNN REIT (NNN) P/S ratio is 9.1× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. 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/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

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

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For NNN REIT specifically, the relevant sector benchmark is the current sector median of 7.0×.

Question 5

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

Accepted Answer

NNN REIT's P/S ratio of 9.1× is below its own 5-year average of 9.6× and above the sector median of 7.0×. That places the current reading at the 37th 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/S ratio range?

Accepted Answer

In the available daily series, NNN REIT (NNN) P/S ratio has ranged from a low of 5.3× in 2009 to a high of 14.6× in 2016. The 5-year average is 9.6× and the 5-year median is 9.3×.

Question 7

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

Accepted Answer

NNN REIT (NNN) P/S ratio at the end of 2025 was 8.1×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). 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	$926.21M	8.1×	-0.7×	Dec 31, 2025
2024	$7.62B	$869.27M	8.8×	-0.7×	Dec 31, 2024
2023	$7.82B	$828.11M	9.4×	-1.1×	Dec 31, 2023
2022	$8.18B	$773.05M	10.6×	-1.0×	Dec 31, 2022
2021	$8.40B	$726.41M	11.6×	+0.8×	Dec 31, 2021
2020	$7.09B	$660.68M	10.7×	-2.9×	Dec 31, 2020
2019	$9.16B	$670.49M	13.7×	+1.3×	Dec 31, 2019
2018	$7.72B	$622.66M	12.4×	+1.2×	Dec 31, 2018
2017	$6.55B	$584.93M	11.2×	-0.9×	Dec 31, 2017
2016	$6.46B	$533.65M	12.1×	+0.7×	Dec 31, 2016
2015	$5.49B	$482.92M	11.4×	-0.2×	Dec 31, 2015
2014	$5.05B	$434.85M	11.6×	+2.3×	Dec 31, 2014
2013	$3.67B	$392.95M	9.3×	-0.3×	Dec 31, 2013
2012	$3.41B	$354.33M	9.6×	+1.4×	Dec 31, 2012
2011	$2.57B	$311.47M	8.3×	+0.1×	Dec 31, 2011
2010	$2.20B	$267.71M	8.2×	+1.2×	Dec 31, 2010
2009	$1.73B	$248.71M	7.0×	+1.2×	Dec 31, 2009
2008	$1.34B	$232.72M	5.8×	-3.0×	Dec 31, 2008
2007	$1.66B	$189.44M	8.8×	+0.3×	Dec 31, 2007
2006	$1.35B	$160.21M	8.4×	+0.9×	Dec 31, 2006
2005	$1.10B	$145.36M	7.6×	-0.3×	Dec 31, 2005
2004	$1.06B	$134.99M	7.8×	-0.9×	Dec 31, 2004
2003	$902.65M	$103.34M	8.7×	+2.2×	Dec 31, 2003
2002	$617.87M	$94.45M	6.5×	-0.0×	Dec 31, 2002
2001	$528.30M	$80.53M	6.6×	—	Dec 31, 2001


AvalonBay Communities (AVB)	7.5×
American Tower (AMT)	7.4×
VICI Properties (VICI)	7.2×
Equity Residential (EQR)	7.1×
Kimco Realty (KIM)	7.0×
Federal Realty Investment Trust (FRT)	7.0×
Camden Property Trust (CPT)	6.5×
UDR (UDR)	6.4×
Tanger (SKT)	6.4×
Mid-America Apartment Communities (MAA)	6.4×
SBA Communications (SBAC)	6.4×
Ventas (VTR)	6.3×
Invitation Homes (INVH)	5.4×
CoStar Group (CSGP)	4.9×
Apartment Investment and Management (AIV)	4.5×
Iron Mountain (IRM)	4.2×
Healthpeak Properties (DOC)	4.0×
Universal Health Realty Income Trust (UHT)	3.8×
Alexandria Real Estate Equities (ARE)	3.0×
Medical Properties Trust (MPT)	2.8×
BXP (BXP)	2.4×
Host Hotels & Resorts (HST)	2.2×
Arbor Realty Trust (ABR)	1.2×
Opendoor Technologies (OPEN)	1.1×
CBRE Group (CBRE)	0.9×

P/S Ratio for NNN REIT (NNN)

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

Historical P/S Ratio for NNN REIT (NNN) from 2001 to 2025

About P/S Ratio at NNN REIT (NNN)

NNN REIT P/S Ratio by Year

NNN REIT P/S Ratio 2025: 8.1×

NNN REIT P/S Ratio 2024: 8.8×

NNN REIT P/S Ratio 2023: 9.4×

NNN REIT P/S Ratio 2022: 10.6×

NNN REIT P/S Ratio 2021: 11.6×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

NNN REIT (NNN) Key Financials

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

Historical P/S Ratio for NNN REIT (NNN) from 2001 to 2025

About P/S Ratio at NNN REIT (NNN)

NNN REIT P/S Ratio by Year

NNN REIT P/S Ratio 2025: 8.1×

NNN REIT P/S Ratio 2024: 8.8×

NNN REIT P/S Ratio 2023: 9.4×

NNN REIT P/S Ratio 2022: 10.6×

NNN REIT P/S Ratio 2021: 11.6×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

+What is NNN REIT's P/S ratio?

+How is the P/S ratio calculated?

+What is the P/S ratio?

+What is a good P/S ratio for NNN REIT?

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

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

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

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

NNN REIT (NNN) Key Financials