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Side-by-side financial comparison of Broadstone Net Lease, Inc. (BNL) and Porch Group, Inc. (PRCH). Click either name above to swap in a different company.
Porch Group, Inc. is the larger business by last-quarter revenue ($121.1M vs $118.3M, roughly 1.0× Broadstone Net Lease, Inc.). Broadstone Net Lease, Inc. runs the higher net margin — 28.0% vs -3.9%, a 31.9% gap on every dollar of revenue. On growth, Porch Group, Inc. posted the faster year-over-year revenue change (100.0% vs 5.5%). Over the past eight quarters, Porch Group, Inc.'s revenue compounded faster (26.4% 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.
Porch is a website that tries to connect homeowners with local home improvement contractors. The site features advice articles, cost guide, and online booking for over 160 home projects.
BNL vs PRCH — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $118.3M | $121.1M |
| Net Profit | $33.1M | $-4.7M |
| Gross Margin | — | 52.7% |
| Operating Margin | — | — |
| Net Margin | 28.0% | -3.9% |
| Revenue YoY | 5.5% | 100.0% |
| Net Profit YoY | 25.5% | 2.0% |
| EPS (diluted) | $0.17 | $-0.04 |
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 | — | $121.1M | ||
| Q4 25 | $118.3M | $112.3M | ||
| Q3 25 | $114.2M | $115.1M | ||
| Q2 25 | $113.0M | $107.0M | ||
| Q1 25 | $108.7M | $84.5M | ||
| Q4 24 | $112.1M | $75.3M | ||
| Q3 24 | $108.4M | $77.7M | ||
| Q2 24 | $105.9M | $75.9M |
| Q1 26 | — | $-4.7M | ||
| Q4 25 | $33.1M | $-3.5M | ||
| Q3 25 | $26.5M | $-10.9M | ||
| Q2 25 | $20.2M | $2.6M | ||
| Q1 25 | $16.7M | $8.4M | ||
| Q4 24 | $26.4M | $30.5M | ||
| Q3 24 | $35.6M | $14.4M | ||
| Q2 24 | $35.3M | $-64.3M |
| Q1 26 | — | 52.7% | ||
| Q4 25 | — | 99.5% | ||
| Q3 25 | — | 75.6% | ||
| Q2 25 | — | 70.9% | ||
| Q1 25 | — | 77.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 79.4% | ||
| Q2 24 | — | 22.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 14.7% | ||
| Q3 25 | — | 14.2% | ||
| Q2 25 | — | 4.7% | ||
| Q1 25 | — | -1.5% | ||
| Q4 24 | — | 33.3% | ||
| Q3 24 | — | -3.2% | ||
| Q2 24 | — | -69.2% |
| Q1 26 | — | -3.9% | ||
| Q4 25 | 28.0% | -3.1% | ||
| Q3 25 | 23.2% | -9.4% | ||
| Q2 25 | 17.8% | 2.4% | ||
| Q1 25 | 15.4% | 9.9% | ||
| Q4 24 | 23.5% | 40.5% | ||
| Q3 24 | 32.8% | 18.5% | ||
| Q2 24 | 33.4% | -84.8% |
| Q1 26 | — | $-0.04 | ||
| Q4 25 | $0.17 | $0.00 | ||
| Q3 25 | $0.14 | $-0.10 | ||
| Q2 25 | $0.10 | $0.00 | ||
| Q1 25 | $0.09 | $0.07 | ||
| Q4 24 | $0.13 | $0.34 | ||
| Q3 24 | $0.19 | $0.12 | ||
| Q2 24 | $0.19 | $-0.65 |
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 | $68.4M |
| Total DebtLower is stronger | $2.5B | $391.3M |
| Stockholders' EquityBook value | $2.9B | $26.3M |
| Total Assets | $5.7B | $806.6M |
| Debt / EquityLower = less leverage | 0.87× | 14.87× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $68.4M | ||
| Q4 25 | $30.5M | $57.3M | ||
| Q3 25 | $82.0M | $85.0M | ||
| Q2 25 | $20.8M | $79.8M | ||
| Q1 25 | $9.6M | $70.4M | ||
| Q4 24 | $14.8M | $191.7M | ||
| Q3 24 | $9.0M | $238.6M | ||
| Q2 24 | $18.3M | $308.4M |
| Q1 26 | — | $391.3M | ||
| Q4 25 | $2.5B | $392.8M | ||
| Q3 25 | $2.4B | $387.1M | ||
| Q2 25 | $2.1B | $394.1M | ||
| Q1 25 | $2.0B | $409.2M | ||
| Q4 24 | $1.9B | $403.9M | ||
| Q3 24 | $2.0B | $399.0M | ||
| Q2 24 | $1.9B | $436.8M |
| Q1 26 | — | $26.3M | ||
| Q4 25 | $2.9B | $-24.6M | ||
| Q3 25 | $2.9B | $-27.9M | ||
| Q2 25 | $2.9B | $-29.3M | ||
| Q1 25 | $2.9B | $-52.4M | ||
| Q4 24 | $3.0B | $-43.2M | ||
| Q3 24 | $3.0B | $-77.0M | ||
| Q2 24 | $3.1B | $-101.9M |
| Q1 26 | — | $806.6M | ||
| Q4 25 | $5.7B | $797.4M | ||
| Q3 25 | $5.5B | $787.7M | ||
| Q2 25 | $5.3B | $770.7M | ||
| Q1 25 | $5.2B | $802.3M | ||
| Q4 24 | $5.2B | $814.0M | ||
| Q3 24 | $5.3B | $867.3M | ||
| Q2 24 | $5.3B | $876.1M |
| Q1 26 | — | 14.87× | ||
| Q4 25 | 0.87× | — | ||
| Q3 25 | 0.82× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.68× | — | ||
| 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 | $299.5M | — |
| Free Cash FlowOCF − Capex | $269.8M | — |
| FCF MarginFCF / Revenue | 228.1% | — |
| Capex IntensityCapex / Revenue | 25.1% | — |
| Cash ConversionOCF / Net Profit | 9.04× | — |
| TTM Free Cash FlowTrailing 4 quarters | $461.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $299.5M | $1.2M | ||
| Q3 25 | $64.2M | $40.8M | ||
| Q2 25 | $79.3M | $35.6M | ||
| Q1 25 | $71.5M | $-11.2M | ||
| Q4 24 | $276.3M | $-26.6M | ||
| Q3 24 | $67.3M | $12.4M | ||
| Q2 24 | $74.2M | $-26.0M |
| Q1 26 | — | — | ||
| Q4 25 | $269.8M | $1.1M | ||
| Q3 25 | $58.0M | $40.7M | ||
| Q2 25 | $76.7M | $35.4M | ||
| Q1 25 | $57.1M | $-11.2M | ||
| Q4 24 | $259.5M | $-26.8M | ||
| Q3 24 | $60.3M | $12.2M | ||
| Q2 24 | $74.0M | $-26.0M |
| Q1 26 | — | — | ||
| Q4 25 | 228.1% | 1.0% | ||
| Q3 25 | 50.8% | 35.4% | ||
| Q2 25 | 67.9% | 33.0% | ||
| Q1 25 | 52.5% | -13.3% | ||
| Q4 24 | 231.4% | -35.6% | ||
| Q3 24 | 55.6% | 15.7% | ||
| Q2 24 | 69.9% | -34.3% |
| Q1 26 | — | — | ||
| Q4 25 | 25.1% | 0.1% | ||
| Q3 25 | 5.4% | 0.1% | ||
| Q2 25 | 2.3% | 0.2% | ||
| Q1 25 | 13.2% | 0.1% | ||
| Q4 24 | 15.0% | 0.3% | ||
| Q3 24 | 6.5% | 0.3% | ||
| Q2 24 | 0.2% | 0.1% |
| Q1 26 | — | — | ||
| Q4 25 | 9.04× | — | ||
| Q3 25 | 2.43× | — | ||
| Q2 25 | 3.93× | 13.79× | ||
| Q1 25 | 4.27× | -1.33× | ||
| Q4 24 | 10.47× | -0.87× | ||
| Q3 24 | 1.89× | 0.86× | ||
| Q2 24 | 2.10× | — |
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% |
PRCH
Segment breakdown not available.
