Net Lease Office Properties (NLOP) intrinsic value & 10-year financials
Net Lease Office Properties (NLOP) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 6 fiscal years revenue shrank 5.3% a year to $118.9M, with an average return on invested capital of -10.0%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $9.75
- Market cap
- $144.4M
- Revenue (FY2025)
- $118.9M
- Revenue growth (6-yr CAGR)
- -5.3%
- ROIC (10-yr avg)
- -10.0%
- Free cash flow (FY2025)
- —
NLOP 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $118.9M | -$145.3M | -$9.81 | — | — | -31.5% |
| FY2024 | $142.2M | -$91.5M | -$6.18 | — | — | -9.5% |
| FY2023 | $175.0M | -$131.7M | -$9.00 | — | — | -10.2% |
| FY2022 | $156.2M | $15.8M | $1.08 | — | — | 1.1% |
| FY2021 | $147.9M | $1.4M | — | — | — | 0.1% |
| FY2020 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Net Lease Office Properties revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Net Lease Office Properties has historically struggled to out-earn its cost of capital, averaging just -10.0% ROIC.
Net Lease Office Properties capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Net Lease Office Properties is modeled at -5.3% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-1.98 per share.