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Side-by-side financial comparison of Broadstone Net Lease, Inc. (BNL) and CareTrust REIT, Inc. (CTRE). Click either name above to swap in a different company.
CareTrust REIT, Inc. is the larger business by last-quarter revenue ($134.9M vs $118.3M, roughly 1.1× Broadstone Net Lease, Inc.). CareTrust REIT, Inc. runs the higher net margin — 82.5% vs 28.0%, a 54.5% gap on every dollar of revenue. On growth, CareTrust REIT, Inc. posted the faster year-over-year revenue change (55.1% vs 5.5%). Over the past eight quarters, CareTrust REIT, Inc.'s revenue compounded faster (46.2% CAGR vs 6.0%).
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.
CareTrust REIT, Inc.CTREEarnings & Financial Report
Target Healthcare REIT is a British property investment company which invests in healthcare properties and holds a large portfolio of care homes. It is structured as a real estate investment trust (REIT) and is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
BNL vs CTRE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $118.3M | $134.9M |
| Net Profit | $33.1M | $111.3M |
| Gross Margin | — | — |
| Operating Margin | — | — |
| Net Margin | 28.0% | 82.5% |
| Revenue YoY | 5.5% | 55.1% |
| Net Profit YoY | 25.5% | 113.5% |
| EPS (diluted) | $0.17 | $0.52 |
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.
| Q4 25 | $118.3M | $134.9M | ||
| Q3 25 | $114.2M | $132.4M | ||
| Q2 25 | $113.0M | $112.5M | ||
| Q1 25 | $108.7M | $96.6M | ||
| Q4 24 | $112.1M | $86.9M | ||
| Q3 24 | $108.4M | $77.4M | ||
| Q2 24 | $105.9M | $68.9M | ||
| Q1 24 | $105.4M | $63.1M |
| Q4 25 | $33.1M | $111.3M | ||
| Q3 25 | $26.5M | $74.9M | ||
| Q2 25 | $20.2M | $68.5M | ||
| Q1 25 | $16.7M | $65.8M | ||
| Q4 24 | $26.4M | $52.1M | ||
| Q3 24 | $35.6M | $33.4M | ||
| Q2 24 | $35.3M | $10.8M | ||
| Q1 24 | $65.1M | $28.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | 58.1% | ||
| Q2 25 | — | 61.3% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 43.0% | ||
| Q2 24 | — | 15.1% | ||
| Q1 24 | — | — |
| Q4 25 | 28.0% | 82.5% | ||
| Q3 25 | 23.2% | 56.6% | ||
| Q2 25 | 17.8% | 60.9% | ||
| Q1 25 | 15.4% | 68.1% | ||
| Q4 24 | 23.5% | 60.0% | ||
| Q3 24 | 32.8% | 43.2% | ||
| Q2 24 | 33.4% | 15.6% | ||
| Q1 24 | 61.8% | 45.6% |
| Q4 25 | $0.17 | $0.52 | ||
| Q3 25 | $0.14 | $0.35 | ||
| Q2 25 | $0.10 | $0.35 | ||
| Q1 25 | $0.09 | $0.35 | ||
| Q4 24 | $0.13 | $0.30 | ||
| Q3 24 | $0.19 | $0.21 | ||
| Q2 24 | $0.19 | $0.07 | ||
| Q1 24 | $0.35 | $0.22 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $30.5M | $198.0M |
| Total DebtLower is stronger | $2.5B | $894.2M |
| Stockholders' EquityBook value | $2.9B | $4.0B |
| Total Assets | $5.7B | $5.1B |
| Debt / EquityLower = less leverage | 0.87× | 0.22× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $30.5M | $198.0M | ||
| Q3 25 | $82.0M | $712.5M | ||
| Q2 25 | $20.8M | $306.1M | ||
| Q1 25 | $9.6M | $26.5M | ||
| Q4 24 | $14.8M | $213.8M | ||
| Q3 24 | $9.0M | $377.1M | ||
| Q2 24 | $18.3M | $495.1M | ||
| Q1 24 | $221.7M | $451.2M |
| Q4 25 | $2.5B | $894.2M | ||
| Q3 25 | $2.4B | $893.8M | ||
| Q2 25 | $2.1B | $1.2B | ||
| Q1 25 | $2.0B | $822.1M | ||
| Q4 24 | $1.9B | $396.9M | ||
| Q3 24 | $2.0B | $396.7M | ||
| Q2 24 | $1.9B | $671.1M | ||
| Q1 24 | $1.9B | $595.9M |
| Q4 25 | $2.9B | $4.0B | ||
| Q3 25 | $2.9B | $4.0B | ||
| Q2 25 | $2.9B | $3.3B | ||
| Q1 25 | $2.9B | $2.9B | ||
| Q4 24 | $3.0B | $2.9B | ||
| Q3 24 | $3.0B | $2.4B | ||
| Q2 24 | $3.1B | $1.9B | ||
| Q1 24 | $3.1B | $1.7B |
| Q4 25 | $5.7B | $5.1B | ||
| Q3 25 | $5.5B | $5.1B | ||
| Q2 25 | $5.3B | $4.7B | ||
| Q1 25 | $5.2B | $3.9B | ||
| Q4 24 | $5.2B | $3.4B | ||
| Q3 24 | $5.3B | $2.9B | ||
| Q2 24 | $5.3B | $2.7B | ||
| Q1 24 | $5.3B | $2.3B |
| Q4 25 | 0.87× | 0.22× | ||
| Q3 25 | 0.82× | 0.22× | ||
| Q2 25 | 0.73× | 0.35× | ||
| Q1 25 | 0.68× | 0.28× | ||
| Q4 24 | 0.64× | 0.14× | ||
| Q3 24 | 0.65× | 0.16× | ||
| Q2 24 | 0.62× | 0.35× | ||
| Q1 24 | 0.62× | 0.36× |
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 | $299.5M | $394.0M |
| Free Cash FlowOCF − Capex | $269.8M | — |
| FCF MarginFCF / Revenue | 228.1% | — |
| Capex IntensityCapex / Revenue | 25.1% | — |
| Cash ConversionOCF / Net Profit | 9.04× | 3.54× |
| TTM Free Cash FlowTrailing 4 quarters | $461.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $299.5M | $394.0M | ||
| Q3 25 | $64.2M | $100.9M | ||
| Q2 25 | $79.3M | $100.8M | ||
| Q1 25 | $71.5M | $71.4M | ||
| Q4 24 | $276.3M | $244.3M | ||
| Q3 24 | $67.3M | $67.2M | ||
| Q2 24 | $74.2M | $53.0M | ||
| Q1 24 | $70.9M | $48.8M |
| Q4 25 | $269.8M | — | ||
| Q3 25 | $58.0M | — | ||
| Q2 25 | $76.7M | — | ||
| Q1 25 | $57.1M | — | ||
| Q4 24 | $259.5M | — | ||
| Q3 24 | $60.3M | — | ||
| Q2 24 | $74.0M | — | ||
| Q1 24 | $67.7M | — |
| Q4 25 | 228.1% | — | ||
| Q3 25 | 50.8% | — | ||
| Q2 25 | 67.9% | — | ||
| Q1 25 | 52.5% | — | ||
| Q4 24 | 231.4% | — | ||
| Q3 24 | 55.6% | — | ||
| Q2 24 | 69.9% | — | ||
| Q1 24 | 64.3% | — |
| Q4 25 | 25.1% | — | ||
| Q3 25 | 5.4% | — | ||
| Q2 25 | 2.3% | — | ||
| Q1 25 | 13.2% | — | ||
| Q4 24 | 15.0% | — | ||
| Q3 24 | 6.5% | — | ||
| Q2 24 | 0.2% | — | ||
| Q1 24 | 3.0% | — |
| Q4 25 | 9.04× | 3.54× | ||
| Q3 25 | 2.43× | 1.35× | ||
| Q2 25 | 3.93× | 1.47× | ||
| Q1 25 | 4.27× | 1.08× | ||
| Q4 24 | 10.47× | 4.68× | ||
| Q3 24 | 1.89× | 2.01× | ||
| Q2 24 | 2.10× | 4.92× | ||
| Q1 24 | 1.09× | 1.70× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BNL
| Other | $66.9M | 57% |
| Two Thousand Twenty Four Atm Program | $51.4M | 43% |
CTRE
Segment breakdown not available.
