{ "ok": true, "cik": "2033695", "ticker": null, "name": "New Mountain Net Lease Trust", "filings": [ { "form": "8-K", "filed": "2026-09-08", "items": [ "3.02 Unregistered Sales of Equity Securities" ], "url": "https://www.sec.gov/Archives/edgar/data/2033695/000119312526385270/0001193125-26-385270-index.htm" }, { "form": "8-K", "filed": "2026-08-31", "items": [ "7.01 Regulation FD Disclosure" ], "url": "https://www.sec.gov/Archives/edgar/data/2033695/000119312526376676/0001193125-26-376676-index.htm" }, { "form": "8-K", "filed": "2026-08-06", "items": [ "3.02 Unregistered Sales of Equity Securities" ], "url": "https://www.sec.gov/Archives/edgar/data/2033695/000119312526337908/0001193125-26-337908-index.htm" }, { "form": "8-K", "filed": "2026-08-03", "items": [ "7.01 Regulation FD Disclosure" ], "url": "https://www.sec.gov/Archives/edgar/data/2033695/000119312526329380/0001193125-26-329380-index.htm" }, { "form": "10-Q", "filed": "2026-07-30", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/2033695/000119312526326076/0001193125-26-326076-index.htm" }, { "form": "8-K", "filed": "2026-07-07", "items": [ "3.02 Unregistered Sales of Equity Securities" ], "url": "https://www.sec.gov/Archives/edgar/data/2033695/000119312526297446/0001193125-26-297446-index.htm" } ], "events12m": 24, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0002033695.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=2033695" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets, no buy or sell views.", "edgar": "🫧 Edgar looked up New Mountain Net Lease Trust. Last filing: 8-K (3.02 Unregistered Sales of Equity Securities), 2026-09-08. 24 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-12-31", "revenue": 111601000, "revenueGrowth1y": 0.03202389539292394, "revenueGrowthPerYear": null, "yearsOfData": 2, "operatingMargin": null, "operatingMarginPrior": null, "netMargin": 0.19300902321663785, "operatingCashFlow": 54026000, "capitalSpending": null, "freeCashFlow": null, "researchAndDevelopment": null, "researchShareOfRevenue": null, "cash": 629000, "longTermDebt": 946245000, "longTermDebtChange": null, "revenueHistory": [ { "fiscalYearEnd": "2024-12-31", "revenue": 108138000 }, { "fiscalYearEnd": "2025-12-31", "revenue": 111601000 } ], "totalEquity": 396891000, "totalAssets": 1440980000, "equityRatio": 0.2754313036960957, "returnOnEquity": 0.05427182778143117, "dividendsPaid": 40827000, "payoutRatio": 1.8954038997214484, "dividendPerShare": 1.6102, "dividendYearsRising": 0, "dividendCut": true, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "range80": { "low": 90849960.1337994, "high": 146018736.63492763, "baseline": 115174898.74974571, "n": 4309, "band": "b01" }, "ifPaceHeld": { "low": 90849960.1337994, "high": 146018736.63492763 } }, "edgarette": "🔖 Exposure: revenue $111.6M (FY2025), total debt $946.2M. Experience: revenue up 3.2% on the year. Soundness: equity 27.5% of assets, return on equity 5.4%, payout 189.5% of profit, the dividend per share fell in the latest year on record. Credibility: 2 audited years, moderate weight. Range: 80% of past cases like this landed between $90.8M and $146.0M next year (method v3, set from 4,309 SEC company-years; on a year the method never saw, 83% landed inside). A range, not a forecast. Against peers (79 filers, $50M+ revenue, real estate investment trusts): growth 3.2% against 3.7%.", "peers": { "sic": 6798, "sicDescription": "Real Estate Investment Trusts", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "6798", "growth": [ 0.0366, 157 ], "opMargin": [ 0.2474, 79 ], "equityRatio": [ 0.3883, 154 ], "returnOnEquity": [ 0.0254, 128 ], "payoutRatio": [ 1.5128, 81 ] }, "summary": "New Mountain Net Lease Trust grew revenue 3.2% in FY2025 to $112 million, equity 27.5% of assets, and its dividend per share fell in the latest year on record. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
New Mountain Net Lease Trust against its own record and its peers
Revenue, on the yearPeer median 3.7%3.2%Equity of assetsPeer median 38.8%27.5%Return on equityPeer median 2.5%5.4%Payout of profitPeer median 151.3%189.5%Gold tick: the median of 81–154 peers with $50M+ revenue in real estate investment trusts
", "chartHorizon": "
Handed back now, or kept to compound
Of each dollar of profit120.0% paid outMore was paid out than was earned in the year.Handed back per share$1.6102cut in the latest yearGrowth its own profit can fund0.0%retained x return on equityRevenue growth it managed3.2%last year, for comparison

Gold is paid out to shareholders; navy is kept in the business. Retained profit times return on equity is the pace a company can fund from itself. Facts from the filings, not a recommendation.

", "backtest": { "tests": 0, "hits": 0, "rate": null, "method": "v3", "note": "hindsight: past years, same calibrated range. The range was calibrated on 2022-2024 SEC data, so years in that window are partly in-sample." }, "registry": { "logged": "2026-09-20T13:12:34.538Z", "hash": "010b1608bdd56453", "status": "open" }, "caution": "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.", "schema": "pops4.edgarette.card/1", "card": { "summary": "New Mountain Net Lease Trust grew revenue 3.2% in FY2025 to $112 million, equity 27.5% of assets, and its dividend per share fell in the latest year on record. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-31", "revenue": 111601000, "totalDebt": 946245000, "cash": 629000 }, "experience": { "revenueGrowth1y": 0.03202389539292394, "revenueGrowthPerYear": null, "operatingMargin": null, "operatingMarginPrior": null, "netMargin": 0.19300902321663785, "freeCashFlow": null }, "soundness": { "equityRatio": 0.2754313036960957, "returnOnEquity": 0.05427182778143117, "payoutRatio": 1.8954038997214484, "dividendPerShare": 1.6102, "dividendYearsRising": 0, "dividendCut": true, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 6798, "sicDescription": "Real Estate Investment Trusts", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "6798", "growth": [ 0.0366, 157 ], "opMargin": [ 0.2474, 79 ], "equityRatio": [ 0.3883, 154 ], "returnOnEquity": [ 0.0254, 128 ], "payoutRatio": [ 1.5128, 81 ] }, "credibility": { "auditedYears": 2, "weight": "moderate", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "range": { "low": 90849960.1337994, "high": 146018736.63492763, "baseline": 115174898.74974571, "coverage": 0.8, "method": "v3", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); range = 10th to 90th percentile of how SEC company-years of the same size band actually turned out", "calibratedOn": { "companyYears": 4309, "sizeBand": "b01" }, "kind": "a calibrated range, not a forecast; no view on the share price", "track": { "backtest": { "tests": 0, "hits": 0, "rate": null, "method": "v3", "note": "hindsight: past years, same calibrated range. The range was calibrated on 2022-2024 SEC data, so years in that window are partly in-sample." }, "registry": { "logged": "2026-09-20T13:12:34.538Z", "hash": "010b1608bdd56453", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "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.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0002033695.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=2033695" } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same if-the-pace-held arithmetic applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so." } }