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Side-by-side financial comparison of Broadstone Net Lease, Inc. (BNL) and CSW INDUSTRIALS, INC. (CSW). Click either name above to swap in a different company.
CSW INDUSTRIALS, INC. is the larger business by last-quarter revenue ($233.0M vs $121.4M, roughly 1.9× Broadstone Net Lease, Inc.). Broadstone Net Lease, Inc. runs the higher net margin — 38.2% vs 4.4%, a 33.8% gap on every dollar of revenue. On growth, CSW INDUSTRIALS, INC. posted the faster year-over-year revenue change (20.3% vs 11.7%). Over the past eight quarters, Broadstone Net Lease, Inc.'s revenue compounded faster (7.1% CAGR vs 5.1%).
Broadstone Net Lease, Inc. is a real estate investment trust (REIT) that acquires, owns, and manages a diversified portfolio of single-tenant commercial real estate assets across the United States. Its portfolio covers key segments including industrial facilities, healthcare properties, retail locations, and office spaces, all leased to tenants under long-term net lease agreements.
BNL vs CSW — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $121.4M | $233.0M |
| Net Profit | $46.4M | $10.3M |
| Gross Margin | — | 39.7% |
| Operating Margin | 52.2% | 7.4% |
| Net Margin | 38.2% | 4.4% |
| Revenue YoY | 11.7% | 20.3% |
| Net Profit YoY | — | -61.9% |
| EPS (diluted) | $0.24 | $0.62 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $121.4M | — | ||
| Q4 25 | $118.3M | $233.0M | ||
| Q3 25 | $114.2M | $277.0M | ||
| Q2 25 | $113.0M | $263.6M | ||
| Q1 25 | $108.7M | $230.5M | ||
| Q4 24 | $112.1M | $193.6M | ||
| Q3 24 | $108.4M | $227.9M | ||
| Q2 24 | $105.9M | $226.2M |
| Q1 26 | $46.4M | — | ||
| Q4 25 | $33.1M | $10.3M | ||
| Q3 25 | $26.5M | $40.7M | ||
| Q2 25 | $20.2M | $40.9M | ||
| Q1 25 | $16.7M | $35.1M | ||
| Q4 24 | $26.4M | $26.9M | ||
| Q3 24 | $35.6M | $36.1M | ||
| Q2 24 | $35.3M | $38.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | 39.7% | ||
| Q3 25 | — | 43.0% | ||
| Q2 25 | — | 43.8% | ||
| Q1 25 | — | 44.2% | ||
| Q4 24 | — | 41.4% | ||
| Q3 24 | — | 45.6% | ||
| Q2 24 | — | 47.5% |
| Q1 26 | 52.2% | — | ||
| Q4 25 | — | 7.4% | ||
| Q3 25 | — | 20.5% | ||
| Q2 25 | — | 20.8% | ||
| Q1 25 | — | 19.5% | ||
| Q4 24 | — | 15.3% | ||
| Q3 24 | — | 22.6% | ||
| Q2 24 | — | 24.3% |
| Q1 26 | 38.2% | — | ||
| Q4 25 | 28.0% | 4.4% | ||
| Q3 25 | 23.2% | 14.7% | ||
| Q2 25 | 17.8% | 15.5% | ||
| Q1 25 | 15.4% | 15.2% | ||
| Q4 24 | 23.5% | 13.9% | ||
| Q3 24 | 32.8% | 15.8% | ||
| Q2 24 | 33.4% | 17.1% |
| Q1 26 | $0.24 | — | ||
| Q4 25 | $0.17 | $0.62 | ||
| Q3 25 | $0.14 | $2.41 | ||
| Q2 25 | $0.10 | $2.43 | ||
| Q1 25 | $0.09 | $2.05 | ||
| Q4 24 | $0.13 | $1.60 | ||
| Q3 24 | $0.19 | $2.26 | ||
| Q2 24 | $0.19 | $2.47 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $20.3M | $40.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.0B | $1.1B |
| Total Assets | $5.8B | $2.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $20.3M | — | ||
| Q4 25 | $30.5M | $40.2M | ||
| Q3 25 | $82.0M | $31.5M | ||
| Q2 25 | $20.8M | $38.0M | ||
| Q1 25 | $9.6M | $225.8M | ||
| Q4 24 | $14.8M | $213.8M | ||
| Q3 24 | $9.0M | $273.2M | ||
| Q2 24 | $18.3M | $18.9M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.0B | $800.1M | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $2.0B | — | ||
| Q2 24 | $1.9B | — |
| Q1 26 | $3.0B | — | ||
| Q4 25 | $2.9B | $1.1B | ||
| Q3 25 | $2.9B | $1.1B | ||
| Q2 25 | $2.9B | $1.1B | ||
| Q1 25 | $2.9B | $1.1B | ||
| Q4 24 | $3.0B | $1.0B | ||
| Q3 24 | $3.0B | $1.0B | ||
| Q2 24 | $3.1B | $650.2M |
| Q1 26 | $5.8B | — | ||
| Q4 25 | $5.7B | $2.3B | ||
| Q3 25 | $5.5B | $1.5B | ||
| Q2 25 | $5.3B | $1.5B | ||
| Q1 25 | $5.2B | $1.4B | ||
| Q4 24 | $5.2B | $1.4B | ||
| Q3 24 | $5.3B | $1.4B | ||
| Q2 24 | $5.3B | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | 0.87× | — | ||
| Q3 25 | 0.82× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.68× | 0.75× | ||
| Q4 24 | 0.64× | — | ||
| Q3 24 | 0.65× | — | ||
| Q2 24 | 0.62× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $28.9M |
| Free Cash FlowOCF − Capex | — | $22.7M |
| FCF MarginFCF / Revenue | — | 9.8% |
| Capex IntensityCapex / Revenue | — | 2.6% |
| Cash ConversionOCF / Net Profit | — | 2.81× |
| TTM Free Cash FlowTrailing 4 quarters | — | $162.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $299.5M | $28.9M | ||
| Q3 25 | $64.2M | $61.8M | ||
| Q2 25 | $79.3M | $60.6M | ||
| Q1 25 | $71.5M | $27.3M | ||
| Q4 24 | $276.3M | $11.6M | ||
| Q3 24 | $67.3M | $66.8M | ||
| Q2 24 | $74.2M | $62.7M |
| Q1 26 | — | — | ||
| Q4 25 | $269.8M | $22.7M | ||
| Q3 25 | $58.0M | $58.7M | ||
| Q2 25 | $76.7M | $57.7M | ||
| Q1 25 | $57.1M | $22.8M | ||
| Q4 24 | $259.5M | $8.5M | ||
| Q3 24 | $60.3M | $61.3M | ||
| Q2 24 | $74.0M | $59.6M |
| Q1 26 | — | — | ||
| Q4 25 | 228.1% | 9.8% | ||
| Q3 25 | 50.8% | 21.2% | ||
| Q2 25 | 67.9% | 21.9% | ||
| Q1 25 | 52.5% | 9.9% | ||
| Q4 24 | 231.4% | 4.4% | ||
| Q3 24 | 55.6% | 26.9% | ||
| Q2 24 | 69.9% | 26.3% |
| Q1 26 | — | — | ||
| Q4 25 | 25.1% | 2.6% | ||
| Q3 25 | 5.4% | 1.1% | ||
| Q2 25 | 2.3% | 1.1% | ||
| Q1 25 | 13.2% | 2.0% | ||
| Q4 24 | 15.0% | 1.6% | ||
| Q3 24 | 6.5% | 2.4% | ||
| Q2 24 | 0.2% | 1.4% |
| Q1 26 | — | — | ||
| Q4 25 | 9.04× | 2.81× | ||
| Q3 25 | 2.43× | 1.52× | ||
| Q2 25 | 3.93× | 1.48× | ||
| Q1 25 | 4.27× | 0.78× | ||
| Q4 24 | 10.47× | 0.43× | ||
| Q3 24 | 1.89× | 1.85× | ||
| Q2 24 | 2.10× | 1.62× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BNL
Segment breakdown not available.
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
