# Fortress Net Lease REIT · Edgar & Edgarette company card

> Fortress Net Lease REIT grew revenue 346% in FY2025 to $184 million, equity 40.9% of assets, and dividend per share up 2 years running. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1966394 · fiscal year ended 2025-12-31 · 3 audited years read · [page](https://www.pops4.com/boards/company/1966394) · [JSON](https://www.pops4.com/boards/company/1966394.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $184M |
| Revenue growth, 1 year | 345.8% |
| Revenue growth per year | 4544.8% |
| Operating margin | — |
| Net margin | 14.6% |
| Operating cash flow | $85M |
| Capital spending | — |
| Free cash flow | — |
| Cash | $4M |
| Long-term debt | $1.3B |
| Total assets | $3.3B |
| Total equity | $1.3B |
| Equity ÷ assets | 40.9% |
| Return on equity | 2.0% |
| Dividend per share | $0.7837 |
| Dividend years rising | 2 |

## Readings, computed from those figures

- Piotroski F: 6 of 9 (solid)
- Health Harbor boat: Sound ship · one warning sign · filed debt accelerated or triggered in the last 12 months

## Edgarette's reading

Exposure: revenue $184.3M (FY2025), total debt $1.3B. Experience: revenue up 345.8% on the year, up 4544.8% a year over 2 years. Soundness: equity 40.9% of assets, return on equity 2.0%, payout 170.2% of profit, dividend per share up 2 years running. Credibility: 3 audited years, moderate weight. Range: 80% of past cases like this landed between $3.7B and $5.9B next year (method v3, set from 4,309 SEC company-years; on a year the method never saw, 83% landed inside). A statistical range, not company guidance. Against peers (79 filers, $50M+ revenue, real estate investment trusts): growth 345.8% against 3.7%.

Range logged 2026-09-20, receipt c64948a5d8110591, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 2.04 Debt accelerated or triggered: 2, latest 2026-10-02 ([filing](https://www.sec.gov/Archives/edgar/data/1966394/000119312526411561/0001193125-26-411561-index.htm))

## Recent filings

- 8-K · filed 2026-11-03 · 3.02 Unregistered Sales of Equity Securities; 8.01 Other Events · [filing](https://www.sec.gov/Archives/edgar/data/1966394/000119312526444816/0001193125-26-444816-index.htm)
- 8-K · filed 2026-10-21 · 8.01 Other Events · [filing](https://www.sec.gov/Archives/edgar/data/1966394/000119312526427573/0001193125-26-427573-index.htm)
- 8-K · filed 2026-10-13 · 1.01 Entry into a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation · [filing](https://www.sec.gov/Archives/edgar/data/1966394/000119312526420216/0001193125-26-420216-index.htm)
- 8-K · filed 2026-10-06 · 3.02 Unregistered Sales of Equity Securities; 8.01 Other Events · [filing](https://www.sec.gov/Archives/edgar/data/1966394/000119312526415210/0001193125-26-415210-index.htm)
- 8-K · filed 2026-10-02 · 1.01 Entry into a Material Definitive Agreement; 2.04 Triggering Events That Accelerate a Financial Obligation; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1966394/000119312526411561/0001193125-26-411561-index.htm)
- 8-K · filed 2026-09-17 · 8.01 Other Events · [filing](https://www.sec.gov/Archives/edgar/data/1966394/000119312526393929/0001193125-26-393929-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001966394.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1966394

## Cite

POPS4, Edgar & Edgarette: Fortress Net Lease REIT company card, from the company's own SEC filings, accessed 2026-11-04, https://www.pops4.com/boards/company/1966394. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.