NTST
NETSTREIT Corp.
NTST's fundamentals are strong and it looks cheap: trading at 88x earnings, below its usual 155x. Analysts expect strong earnings growth.
NTST Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| N/A | |
| N/A |
NTST's revenue and profitability are currently strong. Free cash flow and net leverage aren't meaningful measures for real estate companies like NTST.
NTST PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 44x | $18.44 | — |
| Current | 88x | $18.44 | — |
| Cheap | 114x | $23.91 | +30% |
| Fair | 155x | $32.56 | +77% |
| Expensive | 221x | $46.42 | +152% |
Historical ranges are pointers, not guarantees.
NTST's PE is in its cheap range at 88x. If earnings grow as analysts expect, today's price would be 44x next year's earnings.
NTST Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly weakening | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for NTST, but weaker profitability.
NTST Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.42 | +101% |
| Q3 2026 | $0.21 | +$0.21 |
| Q2 2026 | $0.14 | +$0.22 |
| Q1 2026 | $0.12 | +$0.27 |
| Q4 2025 | $0.08 | +$0.24 |
| Q3 2025 | $0.00 | +$0.06 |
| Q2 2025 | -$0.08 | -214% |
| Q1 2025 | -$0.15 | -267% |
| Q4 2024 | -$0.16 | -245% |
NTST has returned to profit: it earned $0.21 per share over the past year, after losing money the year before.
NTST Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $66.3M | +37% |
| Q2 2026 | $61.3M | +27% |
| Q1 2026 | $57.1M | +24% |
| Q4 2025 | $52.5M | +19% |
| Q3 2025 | $48.3M | +17% |
| Q2 2025 | $48.3M | +22% |
| Q1 2025 | $45.9M | +22% |
| Q4 2024 | $44.1M | +20% |
NTST's revenue has grown year over year every quarter since mid-2022: $66M last quarter, up 37% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 35% | +10 points |
| Q2 2026 | 32% | +6.6 points |
| Q1 2026 | 34% | +9.3 points |
| Q4 2025 | 28% | +24 points |
| Q3 2025 | 25% | +19 points |
| Q2 2025 | 26% | +5.6 points |
| Q1 2025 | 25% | +7.4 points |
| Q4 2024 | 3.8% | -15 points |
NTST's operating margin was 35% last quarter, up 10 points from the same quarter a year ago, near the top of its range since 2019.
NTST Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $41.8M | +49% |
| Q2 2026 | $36.7M | +20% |
| Q1 2026 | $26.3M | +19% |
| Q4 2025 | $28.8M | +2.7% |
| Q3 2025 | $28M | +11% |
| Q2 2025 | $30.6M | +21% |
| Q1 2025 | $22.1M | +90% |
| Q4 2024 | $28M | -2.1% |
NTST's free cash flow was $134M over the past year, up 23% from the year before. Free cash flow isn't a meaningful measure for real estate companies like NTST.
NTST Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +5.2% | +5.4M shares |
| 1 year | +26% | +22.5M shares |
| 3 years | +59% | +40.1M shares |
| 5 years | +162% | +66.8M shares |
| Available history | +345% | +83.9M shares |
NTST has 108M diluted shares, up 26% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $102,000 |
| Q2 2026 | $101,000 |
| Q1 2026 | $1.7M |
| Q4 2025 | $10,000 |
| Q3 2025 | $98,000 |
| Q2 2025 | $72,000 |
| Q1 2025 | $573,000 |
| Q4 2024 | $173,000 |
NTST has spent almost nothing on buybacks in the past year.
NTST Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 6.4x | High |
| Q2 2026 | 8.6x | High |
| Q1 2026 | 8.3x | High |
| Q4 2025 | 7.9x | High |
| Q3 2025 | 8.6x | High |
| Q2 2025 | 8.2x | High |
| Q1 2025 | 8.7x | High |
| Q4 2024 | 9.0x | High |
NTST's net debt is about 6.4 years of its operating earnings (EBITDA), down from 8.6 years a year ago. Net leverage isn't a meaningful measure for real estate companies like NTST.
NTST Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 44.4 | Neutral |
| Stochastic | 39.2 | Neutral |
NTST's weekly RSI is 44 (neutral) and its Stochastic is 39 (neutral).
NTST PE vs Real Estate Sector
| Metric | NTST | Sector median | Relative |
|---|---|---|---|
| PE | 88x | 24x | 267% above |
| PE % | 3 | 21 | 18 pts below |
NTST is trading at 88x earnings, a 267% premium to the Real Estate sector's median of 24x.
NTST Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $17.8 | 3.5% above |
| 20 week MA | $19.6 | 5.8% below |
| 50 week MA | $19.5 | 5.5% below |
| 100 week MA | $18.0 | 2.2% above |
| 200 week MA | $17.6 | 4.7% above |
NTST's trend is mixed: it's above three of its five weekly moving averages, and 4.7% above its 200-week average.
NTST Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $18.0 | $18.6 | +3.2% |
| 2021 | $18.6 | $21.7 | +17% |
| 2022 | $21.7 | $19.2 | -11% |
| 2023 | $19.2 | $17.9 | -7.2% |
| 2024 | $17.9 | $14.0 | -22% |
| 2025 | $14.0 | $17.6 | +26% |
| 2026 YTD | $17.6 | $18.4 | +4.7% |
NTST has finished lower in three of the last six years. It's up 4.7% so far in 2026.