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Intrinsic value of National Retail Properties (NNN)

Previous Close$46.10
Intrinsic Value
Upside potential
Previous Close
$46.10
* Our model cannot be used “out of the box” for the valuation of this stock. You can still do your own valuation by changing the valuation input parameters.
Use floor (the cash flow based valuation has rendered a result, which is lower than an estimated minimum value derived from the company’s balance sheet analysis)

VALUATION INPUT DATA (original, your and others' valuations)

ParameterOrig.Your
Date of valuation (DoV)  
Intrinsic value (IV) at DoV, $/sh  
IV at current val. algorithm, $/sh21.74 

The original valuation is based on fiscal year data as of 2021-12-31 and quarterly data as of 2022-03-31.

Registered users can save their valuation input data

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.

Company description

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of September 30, 2020, the company owned 3,114 properties in 48 states with a gross leasable area of approximately 32.4 million square feet and with a weighted average remaining lease term of 10.7 years.

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2021(a)2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046

INCOME STATEMENT

Revenue growth rate, %10.0NaN
Revenue, $726NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m277NaN
Operating income, $m449NaN
EBITDA, $m665NaN
Interest expense (income), $mNaN
Earnings before tax, $m264NaN
Tax expense, $m0NaN
Net income, $m264NaN

BALANCE SHEET

Cash and short-term investments, $m171NaN
Total assets, $m7751NaN
Adjusted assets (=assets-cash), $m7580NaN
Average production assets, $m3778NaN
Working capital, $m182NaN
Total debt, $m3761NaN
Total liabilities, $m3849NaN
Total equity, $m3902NaN
Debt-to-equity ratio0.964NaN
Adjusted equity ratio0.492NaN

CASH FLOW

Net income, $m264NaN
Depreciation, amort., depletion, $m216NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m568NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-553NaN
Free cash flow, $m1122NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m182
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN
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