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Broadstone Net Lease cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$63.9M in Q3 2026 · $263M over twelve months

Operating cash flow$87.6M
Capital spending−$23.8M
Free cash flow+$63.9M
Cash / net income3.1×

Analysis

In Q3 2026, Broadstone Net Lease generated $87.6M of operating cash flow and spent $23.8M on capital projects, leaving free cash flow of $63.9M. That is $5.8M more than in Q3 2025 ($58.0M).

Over the twelve months to Sep 30, 2026, operating cash flow was $306M; the largest uses were other investing ($681M), dividends ($223M), capital spending ($43.5M); besides operations, cash came from net borrowing (+) / repaid (−) ($561M), other financing ($16.3M); the cash balance fell by $69.5M.

Operating cash flow was $87.6M against net income of $28.1M — 3.1× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$49.8M, stock-based pay +$3.3M, other non-cash −$3.0M.

Free cash flow

Broadstone Net Lease: free cash flow by quarterBroadstone Net Lease: free cash flow by quarter$57.5MQ4 2024$57.1MQ1 2025$76.7MQ2 2025$58.0MQ3 2025$78.0MQ4 2025$74.7MQ1 2026$46.4MQ2 2026$63.9MQ3 2026
Operating cash flow less capital spending.
Broadstone Net Lease: operating cash flow against capital spendingBroadstone Net Lease: operating cash flow against capital spendingOperating cash flowCapital spending$63.9M$6.4MQ4 2024$71.5M$14.3MQ1 2025$79.3M$2.6MQ2 2025$64.2M$6.2MQ3 2025$84.6M$6.6MQ4 2025$76.1M$1.4MQ1 2026$58.2M$11.8MQ2 2026$87.6M$23.8MQ3 2026
Latest (Q3 2026): Operating cash flow $87.6M, Capital spending $23.8M.

Capital allocation, year by year

Broadstone Net Lease: where the cash came from (up) and went (down), by fiscal yearBroadstone Net Lease: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingDividendsFY2021: Operating cash flow $245MFY2021: Net borrowing $102MFY2021: Shares issued $280MFY2021: Asset sales $87.7MFY2021: Capital spending −$1.6MFY2021: Dividends −$154M$715MFY2021FY2022: Operating cash flow $256MFY2022: Net borrowing $100MFY2022: Shares issued $496MFY2022: Asset sales $58.0MFY2022: Capital spending −$31.4MFY2022: Dividends −$181M$910MFY2022FY2023: Operating cash flow $271MFY2023: Net borrowing −$108MFY2023: Shares issued −$180KFY2023: Asset sales $200MFY2023: Capital spending −$46.3MFY2023: Dividends −$208M$471MFY2023FY2024: Operating cash flow $276MFY2024: Net borrowing $8.5MFY2024: Shares issued −$996KFY2024: Asset sales $364MFY2024: Capital spending −$16.8MFY2024: Dividends −$217M$649MFY2024FY2025: Operating cash flow $299MFY2025: Net borrowing $1.0BFY2025: Shares issued $37.9MFY2025: Capital spending −$29.7MFY2025: Dividends −$219M$1.4BFY2025
Over these 5 years operating cash flow totalled $1.3B; the largest uses were dividends ($979M) and capital spending ($126M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$12.2M
Debt$2.9B
Net debt$2.9B
Due within a year$16.8M

Broadstone Net Lease funds itself: free cash flow was $263M over the last twelve months, and $12.2M of cash and investments stands against $2.9B of debt ($16.8M due within a year, 0.7× covered by cash).

Broadstone Net Lease: debt maturities by year (FY2025)Broadstone Net Lease: debt maturities by year (FY2025)$16.8MYear 1$352MYear 2$763MYear 3$566MYear 4$100MYear 5$725MAfter year 5
Principal due in each year as disclosed in the annual report, against $12.2M of cash and investments now.

Where the cash came from and went

Broadstone Net Lease: sources (+) and uses (−) of cash, Q3 2026Broadstone Net Lease: sources (+) and uses (−) of cash, Q3 2026Net borrowing (+) / repaid (−)$208MReal estate bought−$132MOperating cash flow$87.6MOther investing−$77.1MDividends−$55.9MCapital spending−$23.8MOther financing−$3.5MPartners−$2.6MCash drawn (+) / kept (−)−$860K
Broadstone Net Lease: sources (+) and uses (−) of cash, TTM to Q3 2026Broadstone Net Lease: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$681MNet borrowing (+) / repaid (−)$561MOperating cash flow$306MDividends−$223MCash drawn (+) / kept (−)$69.5MCapital spending−$43.5MOther financing$16.3MPartners−$7.4MReal estate bought$1.4M

From profit to cash

Broadstone Net Lease: net income to operating cash flow, Q3 2026Broadstone Net Lease: net income to operating cash flow, Q3 2026Net income$28.1MDepreciation & amortization$49.8MStock-based pay$3.3MImpairments$1.5MOther non-cash−$3.0MPayables$2.7MPrepaid and other assets−$792KOperating cash flow$87.6M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$87.6M−$23.8M−$55.9M$208M—−$860K$63.9M
Q2 2026$58.2M−$11.8M−$56.1M$51.0M—$8.8M$46.4M
Q1 2026$76.1M−$1.4M−$55.7M$133M—$12.0M$74.7M
Q4 2025$84.6M−$6.6M−$54.9M$169M$38.1M$49.7M$78.0M
Q3 2025$64.2M−$6.2M−$52.5M$244M−$37K−$61.3M$58.0M
Q2 2025$79.3M−$2.6M−$55.2M$120M−$32K−$10.9M$76.7M
Q1 2025$71.5M−$14.3M−$56.2M$481M−$146K$5.0M$57.1M
Q4 2024$63.9M−$6.4M−$54.8M−$28.0M−$503K−$4.8M$57.5M

Broadstone Net Lease: income statement and cash flow

Broadstone Net Lease, Q3 2026: revenue $122M (+7% year over year), operating margin 42.3%. The chart follows the revenue to costs, profit and cash.

Broadstone Net Lease: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.