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GNL logoGlobal Net Lease, Inc.(GNL)Earnings, Financials & Key Ratios

GNL•NYSE•REIT / Real Estate
$9.15
$1.95B mkt cap·Price updated May 6, 2026
SectorReal EstateIndustryDiversified REITsSub-IndustryNet Lease and Ground Lease REITs
AboutGlobal Net Lease, Inc. (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE focused on acquiring a diversified global portfolio of commercial properties, with an emphasis on sale-leaseback transactions involving single tenant, mission critical income producing net-leased assets across the United States, Western and Northern Europe.Show more
  • Revenue$498M-38.2%
  • FFO-$34M-114.4%
  • FFO/Share-0.15-114.9%
  • FFO Payout-560.47%-588.6%
  • FFO per Share-0.15-114.9%
  • NOI Margin12.91%-84.3%
  • FFO Margin-6.88%-123.3%
  • ROE-11.71%-114.8%
  • ROA-3.99%-128.2%
  • Debt/Assets59.25%-11.2%
  • Net Debt/EBITDA6.66-14.5%
  • Book Value/Share7.45-21.5%
Technical→

GNL Key Insights

Global Net Lease, Inc. (GNL) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Share count reduced 3.1% through buybacks
  • ✓Trading at only 1.2x book value

✗Weaknesses

  • ✗FFO declining 112.9% TTM
  • ✗Low NOI margin of 12.9%

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

GNL Price & Volume

Global Net Lease, Inc. (GNL) stock price & volume — 10-year historical chart

Loading chart...

GNL Growth Metrics

Global Net Lease, Inc. (GNL) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years9.26%
5 Years8.57%
3 Years9.53%
TTM-28.12%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-71.36%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM-77.1%

Return on Capital

10 Years2.75%
5 Years2.47%
3 Years2.27%
Last Year3.59%

GNL Recent Earnings

Global Net Lease, Inc. (GNL) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 6/12 qtrs (50%)●Beat Revenue 7/12 qtrs (58%)
Q1 2026Latest
Feb 25, 2026
EPS
$0.29
Est $0.21
+38.1%
Revenue
$117M
Est $120M
-2.6%
Q4 2025
Nov 5, 2025
EPS
$0.24
Est $0.21
+14.3%
Revenue
$121M
Est $119M
+1.8%
Q3 2025
Aug 6, 2025
EPS
$0.24
Est $0.20
+20.0%
Revenue
$125M
Est $127M
-1.7%
Q2 2025
May 7, 2025
EPS
$0.29
Est $0.24
+20.8%
Revenue
$132M
Est $188M
-29.5%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q1 2026LatestFeb 25, 2026
$0.29vs $0.21+38.1%
$117Mvs $120M-2.6%
Q4 2025Nov 5, 2025
$0.24vs $0.21+14.3%
$121Mvs $119M+1.8%
Q3 2025Aug 6, 2025
$0.24vs $0.20+20.0%
$125Mvs $127M-1.7%
Q2 2025May 7, 2025
$0.29vs $0.24+20.8%
$132Mvs $188M-29.5%
Based on last 12 quarters of dataView full earnings history →

GNL Peer Comparison

Global Net Lease, Inc. (GNL) competitors in Net Lease and Ground Lease REITs — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
WPC logoWPCW. P. Carey Inc.Direct Competitor16.05B73.1834.688.89%26.02%6.29%6.8%1.07
NNN logoNNNNNN REIT, Inc.Direct Competitor8.45B44.4121.456.55%41.38%8.81%7.9%1.09
EPRT logoEPRTEssential Properties Realty Trust, Inc.Direct Competitor6.74B31.1824.3624.97%43.28%6.3%5.65%0.60
ADC logoADCAgree Realty CorporationDirect Competitor9.12B75.9542.9116.42%29.28%3.65%5.53%0.53
O logoORealty Income CorporationDirect Competitor59.37B63.5754.339.07%18.41%2.64%6.73%
NLOP logoNLOPNet Lease Office PropertiesProduct Competitor197.03M13.30-1.36-100%-164.75%-48.77%32.54%
FCPT logoFCPTFour Corners Property Trust, Inc.Product Competitor2.76B25.1423.069.72%38.74%7.38%6.97%0.74
PINE logoPINEAlpine Income Property Trust, Inc.Product Competitor278.66M19.45-88.4115.9%-0.64%-0.14%1.31

Compare GNL vs Peers

Global Net Lease, Inc. (GNL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs WPC

Most directly comparable listed peer for GNL.

Scale Benchmark

vs O

Larger-name benchmark to compare GNL against a more recognizable public peer.

Peer Set

Compare Top 5

vs WPC, NNN, EPRT, ADC

GNL Income Statement

Global Net Lease, Inc. (GNL) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Revenue259.3M282.21M306.21M330.1M391.23M378.86M515.07M805.01M497.89M
Revenue Growth %21.07%8.84%8.51%7.8%18.52%-3.16%35.95%56.29%-38.15%
Property Operating Expenses28.86M28.73M62.93M32.37M32.75M32.88M150.61M142.5M433.58M
Net Operating Income (NOI)
230.44M▲ 0%
253.47M▲ 10.0%
243.29M▼ 4.0%
297.73M▲ 22.4%
358.48M▲ 20.4%
345.98M▼ 3.5%
364.46M▲ 5.3%
662.51M▲ 81.8%
64.3M▼ 90.3%
NOI Margin %88.87%89.82%79.45%90.19%91.63%91.32%70.76%82.3%12.91%
Operating Expenses142.37M160.9M128.39M198.49M246.57M245.44M379.84M456.03M-104.02M
G&A Expenses29.32M41.32M19.64M59.13M67.31M69.93M85.77M66.67M52.75M
EBITDA260M270.96M241.7M242.02M279.59M259.4M218.36M575.56M359.51M
EBITDA Margin %100.27%96.01%78.93%73.32%71.46%68.47%42.39%71.5%72.21%
Depreciation & Amortization173.95M202.94M126.81M142.78M167.68M158.86M233.74M369.08M191.19M
D&A / Revenue %67.09%71.91%41.41%43.25%42.86%41.93%45.38%45.85%38.4%
Operating Income
86.05M▲ 0%
68.02M▼ 21.0%
114.89M▲ 68.9%
99.24M▼ 13.6%
111.91M▲ 12.8%
100.54M▼ 10.2%
-15.38M▼ 115.3%
206.48M▲ 1442.4%
168.32M▼ 18.5%
Operating Margin %33.19%24.1%37.52%30.06%28.61%26.54%-2.99%25.65%33.81%
Interest Expense48.45M57.97M64.2M71.8M94.34M97.51M179.41M326.93M191.83M
Interest Coverage1.55x1.23x1.52x1.22x1.25x1.24x-0.10x0.61x0.41x
Non-Operating Income11.96M-3.28M17.24M11.69M-5.95M-20.02M2.64M6.68M90.43M
Pretax Income
26.73M▲ 0%
13.33M▼ 50.1%
50.81M▲ 281.1%
15.75M▼ 69.0%
23.52M▲ 49.3%
23.05M▼ 2.0%
-197.44M▼ 956.4%
-127.13M▲ 35.6%
-113.95M▲ 10.4%
Pretax Margin %10.31%4.72%16.59%4.77%6.01%6.09%-38.33%-15.79%-22.89%
Income Tax3.14M2.43M4.33M4.97M12.15M11.03M14.47M4.45M21.8M
Effective Tax Rate %11.75%18.26%8.53%31.56%51.67%47.85%-7.33%-3.5%-19.13%
Net Income
23.57M▲ 0%
10.9M▼ 53.8%
46.48M▲ 326.5%
10.78M▼ 76.8%
11.37M▲ 5.5%
12.02M▲ 5.8%
-211.91M▼ 1862.5%
-131.57M▲ 37.9%
-225.46M▼ 71.4%
Net Margin %9.09%3.86%15.18%3.27%2.91%3.17%-41.14%-16.34%-45.28%
Net Income Growth %-50.01%-53.76%326.5%-76.81%5.46%5.78%-1862.54%37.91%-71.36%
Funds From Operations (FFO)
197.52M▲ 0%
213.84M▲ 8.3%
173.28M▼ 19.0%
153.56M▼ 11.4%
179.04M▲ 16.6%
170.88M▼ 4.6%
21.83M▼ 87.2%
237.51M▲ 988.0%
-34.27M▼ 114.4%
FFO Margin %76.18%75.77%56.59%46.52%45.76%45.1%4.24%29.5%-6.88%
FFO Growth %9.16%8.26%-18.97%-11.38%16.6%-4.56%-87.23%988.04%-114.43%
FFO per Share2.953.072.011.721.821.650.151.03-0.15
FFO Payout Ratio %72.27%68.95%87.01%100.98%87.25%97.63%948.25%114.71%-560.47%
EPS (Diluted)
0.30▲ 0%
0.16▼ 46.7%
0.54▲ 237.5%
0.12▼ 77.8%
0.12▲ 0.0%
0.12▲ 0.0%
-1.71▼ 1525.0%
-0.76▲ 55.6%
-0.98▼ 28.9%
EPS Growth %-62.96%-46.67%237.5%-77.78%0%0%-1525%55.56%-28.95%
EPS (Basic)0.300.160.550.120.120.12-1.71-0.76-0.98
Diluted Shares Outstanding66.88M69.66M86.35M89.47M98.28M103.69M142.58M230.44M223.25M

GNL Balance Sheet

Global Net Lease, Inc. (GNL) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Assets3.04B3.31B3.7B3.97B4.18B3.96B8.1B6.96B4.35B
Asset Growth %5.09%8.91%11.85%7.17%5.44%-5.29%104.43%-14.12%-37.5%
Real Estate & Other Assets-136.09M-211.44M15.38M10.24M3.94B2.98B7.59B6.48B3.89B
PP&E (Net)2.37B2.53B2.89B3.31B52.85M49.17M77.01M74.27M63.36M
Investment Securities1000K1000K0001000K1000K00
Total Current Assets150.48M286.04M367.95M231.53M167.53M177.95M249.84M341.12M344.92M
Cash & Equivalents102.42M100.32M270.3M124.25M89.67M103.33M121.57M159.7M180.11M
Receivables16K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Assets094.03M45.26M46.28M-45.53M1.11M44.02M81.92M63.95M
Intangible Assets629.63M675.55M423.29M415.73M0689.27M000
Total Liabilities1.62B1.88B1.99B2.41B2.56B2.51B5.46B4.77B2.68B
Total Debt1.51B1.77B1.9B2.31B2.48B2.44B5.29B4.64B2.58B
Net Debt1.41B1.67B1.63B2.18B2.39B2.34B5.17B4.48B2.4B
Long-Term Debt1.51B1.77B1.87B2.27B2.36B1.73B3.4B3.13B2.19B
Short-Term Borrowings006.68M15.43M67.12M669.97M1.74B1.39B324.17M
Capital Lease Obligations31.39M35.76M23.98M25.35M52.12M46.43M144.18M125.13M58.93M
Total Current Liabilities346.53M417.33M35.46M53.45M99.29M727.68M1.9B1.51B408.91M
Accounts Payable23.23M31.53M22.9M28.31M022.89M99.01M75.73M43.82M
Deferred Revenue18.54M16.22M0032.76M28.46M46.21M28.73M28.25M
Other Liabilities42.4M38.87M63.08M68.61M-2.45B328K5.14M3.72M5.3M
Total Equity
1.41B▲ 0%
1.43B▲ 1.0%
1.71B▲ 19.7%
1.55B▼ 9.1%
1.63B▲ 4.7%
1.45B▼ 10.6%
2.64B▲ 81.5%
2.19B▼ 17.1%
1.66B▼ 23.9%
Equity Growth %4.3%1.03%19.68%-9.1%4.66%-10.62%81.52%-17.13%-23.94%
Shareholders Equity1.41B1.43B1.7B1.53B1.62B1.44B2.64B2.19B1.66B
Minority Interest1.08M3.26M12.33M21.76M5.92M14.9M1.4M00
Common Stock2M2.09M2.23M2.23M2.37M2.37M3.64M3.64M3.49M
Additional Paid-in Capital1.86B2.03B2.41B2.42B2.68B2.68B4.35B4.36B4.25B
Retained Earnings-468.4M-615.45M-733.25M-896.55M-1.07B-1.25B-1.7B-2.15B-2.61B
Preferred Stock54K54K103K107K113K115K240K240K240K
Return on Assets (ROA)0.79%0.34%1.33%0.28%0.28%0.3%-3.51%-1.75%-3.99%
Return on Equity (ROE)1.7%0.77%2.96%0.66%0.71%0.78%-10.35%-5.45%-11.71%
Debt / Assets49.82%53.56%51.32%58.13%59.26%61.65%65.34%66.75%59.25%
Debt / Equity1.07x1.24x1.11x1.48x1.52x1.68x2.01x2.12x1.55x
Net Debt / EBITDA5.43x6.17x6.74x9.02x8.53x9.02x23.68x7.79x6.66x
Book Value per Share21.1520.5119.8017.3716.5514.0218.519.497.45

GNL Cash Flow Statement

Global Net Lease, Inc. (GNL) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations130.95M144.6M146M176.85M192.49M181.82M143.74M299.47M222.79M
Operating CF Growth %14.48%10.42%0.97%21.13%8.84%-5.54%-20.94%108.34%-25.61%
Operating CF / Revenue %50.5%51.24%47.68%53.57%49.2%47.99%27.91%37.2%44.75%
Net Income23.59M10.9M46.48M10.78M11.37M12.02M-211.91M-131.57M0
Depreciation & Amortization118.34M125.17M131.17M142.78M167.68M158.86M233.74M369.08M194.82M
Stock-Based Compensation-3.79M2.65M9.53M10.06M11.03M12.07M39.19M8.93M12.51M
Other Non-Cash Items3.21M5.8M-5.28M8.65M-16.93M12.35M75.12M84.12M29.34M
Working Capital Changes-10.94M2.34M-22.6M4.58M8.43M-13.48M7.6M-31.51M-26.62M
Cash from Investing-78.98M-457.95M-294.48M-470.53M-436.57M-16.54M-551.9M759.9M1.8B
Acquisitions (Net)00565.53M0477.39M0-451.38M00
Purchase of Investments-98.78M-480.21M-565.53M0-477.39M0000
Sale of Investments10.63M23.72M288.4M048.75M00803.41M0
Other Investing-86.48M-480.21M-565.53M-464.14M-477.39M13.4M-53.22M2.12M1.8B
Cash from Financing-30.66M312.19M300M140.68M218.32M-149.74M469.01M-995.36M-2.06B
Dividends Paid-143.12M-157.26M-161.51M-172.49M-176.05M-187.14M-233.23M-316.18M-235.8M
Common Dividends-142.74M-147.44M-150.78M-155.06M-156.22M-166.84M-206.99M-272.44M-192.06M
Debt Issuance (Net)-1000K1000K1000K1000K1000K1000K1000K-1000K-1000K
Share Repurchases000-470K-156K-686K-1.19M-1.04M-122.08M
Other Financing-10.21M160.36M-19.61M-14.68M-17.47M-10.52M-10.09M-7.74M-15.29M
Net Change in Cash
30.4M▲ 0%
-4.03M▼ 113.3%
170.59M▲ 4328.9%
-148.59M▼ 187.1%
-32.38M▲ 78.2%
11.13M▲ 134.4%
57.95M▲ 420.5%
61.81M▲ 6.7%
-30.14M▼ 148.8%
Exchange Rate Effect9.08M-2.88M19.07M4.4M-6.63M-4.41M-2.9M-2.21M5.81M
Cash at Beginning77.33M107.73M103.69M274.29M125.69M93.31M104.44M162.4M224.21M
Cash at End107.73M103.69M274.29M125.69M93.31M104.44M162.4M224.21M194.06M
Free Cash Flow
127.84M▲ 0%
143.14M▲ 12.0%
128.65M▼ 10.1%
170.47M▲ 32.5%
184.57M▲ 8.3%
151.88M▼ 17.7%
96.45M▼ 36.5%
253.84M▲ 163.2%
189.4M▼ 25.4%
FCF Growth %11.95%11.97%-10.12%32.5%8.27%-17.71%-36.5%163.19%-25.39%
FCF / Revenue %49.3%50.72%42.01%51.64%47.18%40.09%18.73%31.53%38.04%

GNL Key Ratios

Global Net Lease, Inc. (GNL) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
FFO per Share3.192.953.072.011.721.821.650.151.03-0.15
FFO Payout Ratio66.53%72.27%68.95%87.01%100.98%87.25%97.63%948.25%114.71%-560.47%
NOI Margin91.11%88.87%89.82%79.45%90.19%91.63%91.32%70.76%82.3%12.91%
Net Debt / EBITDA6.95x5.43x6.17x6.74x9.02x8.53x9.02x23.68x7.79x6.66x
Debt / Assets49.09%49.82%53.56%51.32%58.13%59.26%61.65%65.34%66.75%59.25%
Interest Coverage2.33x1.55x1.23x1.52x1.22x1.25x1.24x-0.10x0.61x0.41x
Book Value / Share23.9121.1520.5119.817.3716.5514.0218.519.497.45
Revenue Growth4.31%21.07%8.84%8.51%7.8%18.52%-3.16%35.95%56.29%-38.15%

GNL SEC Filings & Documents

Global Net Lease, Inc. (GNL) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 5, 2026·SEC

Material company update

May 5, 2026·SEC

Material company update

May 4, 2026·SEC

10-K Annual Reports

1
FY 2026

Feb 25, 2026·SEC

10-Q Quarterly Reports

3
FY 2025

Nov 6, 2025·SEC

FY 2025

Aug 7, 2025·SEC

FY 2025

May 8, 2025·SEC

GNL Frequently Asked Questions

Global Net Lease, Inc. (GNL) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Global Net Lease, Inc. (GNL) reported $495.3M in revenue for fiscal year 2025. This represents a 1650853% increase from $0.0M in 2012.

Global Net Lease, Inc. (GNL) saw revenue decline by 38.2% over the past year.

Global Net Lease, Inc. (GNL) reported a net loss of $225.5M for fiscal year 2025.

Dividend & Returns

Yes, Global Net Lease, Inc. (GNL) pays a dividend with a yield of 9.40%. This makes it attractive for income-focused investors.

Global Net Lease, Inc. (GNL) has a return on equity (ROE) of -11.7%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Global Net Lease, Inc. (GNL) generated Funds From Operations (FFO) of $-30.5M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Global Net Lease, Inc. (GNL) offers a 9.40% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

Explore More GNL

Global Net Lease, Inc. (GNL) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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