What is NNN REIT, Inc. (NNN) DCF Fair Value and Intrinsic Value in 2026?

NNN REIT, Inc. (NNN) intrinsic value is calculated using conservative multi-stage Discounted Cash Flow (DCF) models, 5-year free cash flow trajectories, Graham Numbers, and owner earnings multiples. LocalAlpha tracks real-time margin of safety against live market prices.

What is NNN REIT, Inc.'s historical Return on Invested Capital (ROIC) and Moat Rating?

NNN REIT, Inc. operates in the Real Estate sector (REIT - Retail) with an economic moat rating of NARROW. LocalAlpha tracks 5-year audited quarterly ROIC, operating margin stability, and balance sheet solvency ratios.

What is NNN REIT, Inc.'s financial health rating and Piotroski F-Score?

NNN REIT, Inc.'s balance sheet quality is evaluated using the 9-point Piotroski F-Score, Altman Z-Score solvency model, debt-to-equity ratio, and quick/current liquidity coverage to guard against financial distress.

How does LocalAlpha monitor NNN REIT, Inc. (NNN) for quarterly SEC filing thesis breaks?

LocalAlpha audits NNN REIT, Inc.'s 10-K, 10-Q, and 8-K regulatory filings on SEC EDGAR within 15 minutes of release. If reported metrics breach an investor's custom ROIC floor, operating margin boundary, or qualitative risk criteria, an autonomous breach audit is dispatched immediately.

StocksNNN

NNN

NNN REIT, Inc.Real Estate / REIT - RetailINTACT

NNN REIT, Inc. is a REIT that invests in high-quality properties subjected generally to long-term, net leases with minimal ongoing capital expenditures. As of June 30, 2026, the Company owned 3,774 properties across 50 states, the District of Columbia and Puerto Rico, encompassing approximately 40.4 million square feet of gross leasable area, with a weighted average remaining lease term of 10.1 years. NNN REIT, Inc. was incorporated in August 1984 in Maryland and is based in Orlando, Florida.

Share Price

$43.87

52W: $38.9 - $50

DCF Fair Value

$0.00

0% Premium

Thesis Hub

P/E (TTM)

21.6x

ROIC

46.3%

Operating Margin

61.7%

FCF Yield

-16.3%

Debt / Equity

1.12x

Piotroski Score

4/9

Altman Z-Score

2.7

Market Cap

$8.4B

Price vs. Intrinsic Value Corridor

Fair Value Range

Historical market price overlaid against conservative DCF Fair Value & Benjamin Graham Margin of Safety bands.

Period Return (1Y)

—()

Period Range

$— - $—

Valuation Overlays:0 Revised Graham ($71.64) Graham Number ($32.58)

2-Stage Discounted Cash Flow (DCF) Workbench

Conservative intrinsic value model based on owner cash generation over a 10-year investment horizon. Opens with LocalAlpha's baseline assumptions (matching the fair value shown above) — adjust any input to stress-test.

Current Market Price

$43.87

DCF Fair Value

$0.00

-100% Premium

Starting Free Cash Flow ($M)$100M

$100M$-1,372M (Reported)$50,000M

Stage 1 Growth (Years 1-5)18.0%

-5%10% (Target)35%

Stage 2 Growth (Years 6-10)4.5%

0%5%20%

Discount Rate (WACC / Hurdle)9.0%

6%9% (Standard)15% (High Risk)

Terminal Perpetual Growth2.5%

1% (GDP Floor)2.5% (Inflation)4.0%

Net Debt ($M)$5,000M

-$100B CashBalance Sheet+$150B Debt

10-Yr PV of Cash Flows

$1.3B

PV of Terminal Value

$1.9B

Implied Enterprise Value

$3.2B

Implied Equity Value

$-1.8B

Year	Yr 1	Yr 2	Yr 3	Yr 4	Yr 5	Yr 6	Yr 7	Yr 8	Yr 9	Yr 10
Projected FCF ($M)	$118	$139	$164	$194	$229	$239	$250	$261	$273	$285
Present Value (PV)	$108	$117	$127	$137	$149	$143	$137	$131	$126	$120

Benjamin Graham & Buffett Value Models

Classical deep value metrics based on asset backing, normalized earnings power, and owner cash yield.

Graham Number-34.7% Premium

$32.58

Calculated as √(22.5 × EPS × BVPS). The maximum theoretical price a defensive investor should pay based purely on asset book value and current earnings.

EPS: $2.03BVPS: $23.24

Revised Graham Formula+38.8% MoS

$71.64

Formula: V = (EPS × (8.5 + 2g) × 4.4) / Y where g is the conservative 7-10 yr growth rate and Y is AAA Bond Yield.

Growth Rate (g%)

Bond Yield (Y%)

Buffett Owner Earnings-15.5% Yield

$-6.79 / share

True distributable cash flow: Net Income + D&A - Maintenance CapEx. Reflects the cash Buffett would extract without hurting unit volume.

Total: $-1.3BYield: -15.5%

Reverse DCF: Market Growth Expectation

EXTREMELY LOW BARRIER

0.0% CAGR (Next 10 Yrs)

At the current price of $43.87, the market is assuming the business will compound Free Cash Flow at 0.0% per year for the next decade with a 9% hurdle rate.

Value Investor Verdict

✓ Low market hurdle: Easy for a wide-moat compounder to beat.

Autonomous Thesis Underwriting

Surveil NNN with Mathematical Margin of Safety Rules

Set non-negotiable floor rules for NNN REIT, Inc.. If a newly filed quarterly 10-Q breaks your ROIC floor, operating margin boundary, or balance sheet leverage rules, receive an autonomous breach audit within 15 minutes.

Buffett Quality

ROIC > 15% • Margin > 15% • D/E < 0.5x

Margin Floor Guard

Current Margin 61.7% • Floor > 10%

Solvency Guard

Altman-Z > 2.6 • Current Ratio > 1.5x

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Frequently Asked Questions: NNN REIT, Inc. (NNN) Intrinsic Valuation

Audited fundamentals, DCF intrinsic value sensitivity, and thesis break detection parameters for NNN REIT, Inc..

Based on institutional multi-stage Discounted Cash Flow (DCF) modeling on audited SEC cash flows, NNN REIT, Inc. has an estimated DCF intrinsic fair value of $0.00 per share compared to its current market price of $43.87. This represents an estimated 0.0% margin of safety (trading below fair value). Additionally, its classic Benjamin Graham Number stands at $32.58.