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Side-by-side financial comparison of Broadstone Net Lease, Inc. (BNL) and Piedmont Realty Trust, Inc. (PDM). Click either name above to swap in a different company.
Piedmont Realty Trust, Inc. is the larger business by last-quarter revenue ($143.3M vs $121.4M, roughly 1.2× Broadstone Net Lease, Inc.). Broadstone Net Lease, Inc. runs the higher net margin — 38.2% vs -31.4%, a 69.6% gap on every dollar of revenue. On growth, Broadstone Net Lease, Inc. posted the faster year-over-year revenue change (11.7% vs 0.4%). Over the past eight quarters, Broadstone Net Lease, Inc.'s revenue compounded faster (7.1% CAGR vs 0.0%).
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.
Piedmont Realty Trust, Inc. is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality office properties primarily located in high-growth metropolitan areas across the United States. It serves corporate tenants across multiple industry sectors including technology, professional services, and healthcare, and pursues stable long-term returns for stakeholders via strategic property management and portfolio optimization.
BNL vs PDM — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $121.4M | $143.3M |
| Net Profit | $46.4M | $-45.0M |
| Gross Margin | — | — |
| Operating Margin | 52.2% | — |
| Net Margin | 38.2% | -31.4% |
| Revenue YoY | 11.7% | 0.4% |
| Net Profit YoY | — | -27.9% |
| EPS (diluted) | $0.24 | $-0.10 |
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 | $143.3M | ||
| Q4 25 | $118.3M | $142.9M | ||
| Q3 25 | $114.2M | $139.2M | ||
| Q2 25 | $113.0M | $140.3M | ||
| Q1 25 | $108.7M | $142.7M | ||
| Q4 24 | $112.1M | $143.2M | ||
| Q3 24 | $108.4M | $139.3M | ||
| Q2 24 | $105.9M | $143.3M |
| Q1 26 | $46.4M | $-45.0M | ||
| Q4 25 | $33.1M | $-43.2M | ||
| Q3 25 | $26.5M | $-13.5M | ||
| Q2 25 | $20.2M | $-16.8M | ||
| Q1 25 | $16.7M | $-10.1M | ||
| Q4 24 | $26.4M | $-30.0M | ||
| Q3 24 | $35.6M | $-11.5M | ||
| Q2 24 | $35.3M | $-9.8M |
| Q1 26 | 52.2% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | 38.2% | -31.4% | ||
| Q4 25 | 28.0% | -30.3% | ||
| Q3 25 | 23.2% | -9.7% | ||
| Q2 25 | 17.8% | -12.0% | ||
| Q1 25 | 15.4% | -7.1% | ||
| Q4 24 | 23.5% | -20.9% | ||
| Q3 24 | 32.8% | -8.3% | ||
| Q2 24 | 33.4% | -6.8% |
| Q1 26 | $0.24 | $-0.10 | ||
| Q4 25 | $0.17 | $-0.34 | ||
| Q3 25 | $0.14 | $-0.11 | ||
| Q2 25 | $0.10 | $-0.14 | ||
| Q1 25 | $0.09 | $-0.08 | ||
| Q4 24 | $0.13 | $-0.25 | ||
| Q3 24 | $0.19 | $-0.09 | ||
| Q2 24 | $0.19 | $-0.08 |
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 | $2.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.0B | $1.5B |
| Total Assets | $5.8B | $4.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $20.3M | $2.3M | ||
| Q4 25 | $30.5M | $731.0K | ||
| Q3 25 | $82.0M | $3.0M | ||
| Q2 25 | $20.8M | $3.3M | ||
| Q1 25 | $9.6M | $2.9M | ||
| Q4 24 | $14.8M | $109.6M | ||
| Q3 24 | $9.0M | $133.6M | ||
| Q2 24 | $18.3M | $138.5M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $2.2B | ||
| Q3 25 | $2.4B | $2.2B | ||
| Q2 25 | $2.1B | $2.2B | ||
| Q1 25 | $2.0B | $2.2B | ||
| Q4 24 | $1.9B | $2.2B | ||
| Q3 24 | $2.0B | $2.2B | ||
| Q2 24 | $1.9B | $2.2B |
| Q1 26 | $3.0B | $1.5B | ||
| Q4 25 | $2.9B | $1.5B | ||
| Q3 25 | $2.9B | $1.5B | ||
| Q2 25 | $2.9B | $1.5B | ||
| Q1 25 | $2.9B | $1.6B | ||
| Q4 24 | $3.0B | $1.6B | ||
| Q3 24 | $3.0B | $1.6B | ||
| Q2 24 | $3.1B | $1.7B |
| Q1 26 | $5.8B | $4.0B | ||
| Q4 25 | $5.7B | $4.0B | ||
| Q3 25 | $5.5B | $4.0B | ||
| Q2 25 | $5.3B | $4.0B | ||
| Q1 25 | $5.2B | $4.0B | ||
| Q4 24 | $5.2B | $4.1B | ||
| Q3 24 | $5.3B | $4.1B | ||
| Q2 24 | $5.3B | $4.2B |
| Q1 26 | — | — | ||
| Q4 25 | 0.87× | 1.49× | ||
| Q3 25 | 0.82× | 1.43× | ||
| Q2 25 | 0.73× | 1.41× | ||
| Q1 25 | 0.68× | 1.40× | ||
| Q4 24 | 0.64× | 1.40× | ||
| Q3 24 | 0.65× | 1.36× | ||
| Q2 24 | 0.62× | 1.34× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
