Global Net Lease, Inc. (GNL)

NYSE Real Estate Diversified REITs S&P SmallCap 600

$6.85

-0.26 (-3.66%)

Close of Nov 06, 2026 · end-of-day data

Source: Global Net Lease, Inc.'s 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 05, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$214.17M	$259.30M	$282.21M	$306.21M	$330.10M	$391.23M	$378.86M	$445.76M	$569.79M	$495.29M
Cost of revenue	$19.75M	$24.46M	$28.23M	—	—	—	—	—	—	—
Gross profit	$194.42M	$234.84M	$253.97M	—	—	—	—	—	—	—
Operating income	$73.62M	$87.14M	$68.02M	$114.89M	$99.24M	$111.91M	$100.54M	-$15.29M	$188.12M	$110.98M
Interest expense	$39.12M	$48.45M	$57.97M	$64.20M	$71.80M	$94.34M	$97.51M	$179.41M	$255.69M	$194.72M
Pre-tax income	$52.00M	$26.73M	$13.33M	$50.81M	$15.75M	$23.52M	$23.05M	-$176.74M	-$74.92M	-$113.95M
Income tax	$4.42M	$3.14M	$2.43M	$4.33M	$4.97M	$12.15M	$11.03M	$14.47M	$4.45M	$21.80M
Net income	$47.14M	$20.73M	$1.08M	$34.53M	-$7.78M	-$8.70M	-$8.36M	-$239.35M	-$175.32M	-$269.20M
EBITDA	$168.08M	$200.19M	$187.60M	$240.89M	$237.79M	$274.99M	$254.57M	$164.06M	$404.94M	$302.17M
EPS (basic)	$0.82	$0.30	$0.01	$0.40	$-0.09	$-0.20	$-0.09	$-1.71	$-0.76	$-1.21
EPS (diluted)	$0.82	$0.30	$0.01	$0.39	$-0.09	$-0.20	$-0.09	$-1.71	$-0.76	$-1.21
Diluted shares	56.72M	66.88M	69.66M	86.35M	89.47M	98.28M	103.69M	142.58M	230.44M	223.26M
Gross margin	90.8%	90.6%	90.0%	—	—	—	—	—	—	—
Operating margin	34.4%	33.6%	24.1%	37.5%	30.1%	28.6%	26.5%	-3.4%	33.0%	22.4%
Net margin	22.0%	8.0%	0.4%	11.3%	-2.4%	-2.2%	-2.2%	-53.7%	-30.8%	-54.4%

Balance sheet

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$77.33M	$102.42M	$100.32M	$270.30M	$124.25M	$89.67M	$103.33M	$121.57M	$159.70M	$180.11M
Goodwill	—	—	—	—	—	$22.06M	$21.36M	$46.98M	$51.37M	$45.90M
Total assets	$2.89B	$3.04B	$3.31B	$3.70B	$3.97B	$4.18B	$3.96B	$8.10B	$6.96B	$4.35B
Long-term debt	$55.38M	$0	—	—	—	—	—	—	—	—
Total debt	$55.38M	$0	—	—	—	—	—	—	—	—
Total liabilities	$1.54B	$1.62B	$1.88B	$1.99B	$2.41B	$2.56B	$2.51B	$5.46B	$4.77B	$2.68B
Shareholders' equity	$1.35B	$1.41B	$1.43B	$1.70B	$1.53B	$1.62B	$1.44B	$2.64B	$2.19B	$1.66B

Cash flow

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	$114.39M	$130.95M	$144.60M	$146.00M	$176.85M	$192.49M	$181.82M	$143.74M	$299.47M	$222.79M
Capital expenditures	$200.00K	$3.12M	$1.45M	$17.35M	—	—	—	—	—	—
Free cash flow	$114.19M	$127.84M	$143.14M	$128.65M	$176.85M	$192.49M	$181.82M	$143.74M	$299.47M	$222.79M
Investing cash flow	$134.15M	-$78.98M	-$457.95M	-$294.48M	-$470.53M	-$436.57M	-$16.54M	-$551.90M	$759.90M	$1.80B
Financing cash flow	-$236.70M	-$30.66M	$312.19M	$300.00M	$140.68M	$218.32M	-$149.74M	$469.01M	-$995.36M	-$2.06B
Dividends paid	$120.39M	$142.74M	$147.44M	$150.78M	$155.06M	$156.22M	$166.84M	$206.99M	$272.44M	$192.06M
Share buybacks	$0	$0	—	$0	$0	$156.00K	$686.00K	$0	$0	$120.28M
Stock-based compensation	$3.75M	-$3.79M	$2.65M	$9.53M	$10.06M	$11.03M	$12.07M	$17.30M	$8.93M	$12.51M
Depreciation & amortization	$94.45M	$113.05M	$119.58M	$126.00M	$138.54M	$163.08M	$154.03M	$179.35M	$216.82M	$191.19M

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$137.42M	$147.88M	$145.46M	$138.67M	$137.78M	$132.41M	$124.91M	$121.01M	$116.95M	$109.29M	$112.47M	$112.87M
Operating income	$45.41M	$57.06M	$61.93M	$12.85M	$56.28M	-$27.87M	$42.30M	-$14.18M	$110.74M	$30.94M	$54.73M	-$25.17M
Interest expense	$83.58M	$82.75M	$71.98M	$59.50M	$59.60M	$53.44M	$53.35M	$45.31M	$42.63M	$39.19M	$38.82M	$38.81M
Pre-tax income	-$22.43M	-$5.01M	-$21.99M	-$51.65M	$3.73M	-$91.89M	-$28.86M	-$59.49M	$66.29M	-$6.72M	$5.79M	-$60.88M
Income tax	$5.46M	$2.36M	-$250.00K	$1.31M	$1.02M	$3.28M	$3.00M	$3.09M	$12.43M	$1.64M	$4.78M	-$1.56M
Net income	-$59.51M	-$34.69M	-$46.60M	-$76.57M	-$17.46M	-$200.31M	-$35.08M	-$71.05M	$37.24M	-$16.01M	-$7.45M	-$67.13M
EBITDA	$101.20M	$114.24M	$118.58M	$65.59M	$106.53M	$28.46M	$87.93M	$30.60M	$155.18M	$72.55M	$96.24M	$18.38M
EPS (basic)	$-0.09	$-0.15	$-0.20	$-0.33	$-0.07	$-0.87	$-0.16	$-0.32	$0.16	$-0.08	$-0.04	$-0.31
EPS (diluted)	$-0.09	$-0.15	$-0.20	$-0.33	$-0.07	$-0.87	$-0.16	$-0.32	$0.16	$-0.08	$-0.04	$-0.31
Diluted shares	29.57M	230.32M	230.38M	230.46M	52.26K	230.26M	222.96M	220.89M	-1.42M	214.04M	211.34M	221.13M
Operating margin	33.0%	38.6%	42.6%	9.3%	40.8%	-21.1%	33.9%	-11.7%	94.7%	28.3%	48.7%	-22.3%
Net margin	-43.3%	-23.5%	-32.0%	-55.2%	-12.7%	-151.3%	-28.1%	-58.7%	31.8%	-14.7%	-6.6%	-59.5%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$121.57M	$131.88M	$122.18M	$127.25M	$159.70M	$147.05M	$144.81M	$165.09M	$180.11M	$125.48M	$153.64M	$150.72M
Goodwill	$46.98M	$48.54M	$50.02M	$52.26M	$51.37M	$44.84M	$46.01M	$45.98M	$45.90M	$45.63M	$45.52M	$45.44M
Total assets	$8.10B	$7.97B	$7.61B	$7.34B	$6.96B	$5.79B	$4.98B	$4.77B	$4.35B	$4.15B	$4.07B	$4.51B
Total liabilities	$5.46B	$5.44B	$5.19B	$5.06B	$4.77B	$3.87B	$3.15B	$3.06B	$2.68B	$2.59B	$2.56B	$2.93B
Shareholders' equity	$2.64B	$2.52B	$2.42B	$2.27B	$2.19B	$1.92B	$1.83B	$1.70B	$1.66B	$1.56B	$1.51B	$1.55B

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	$55.79M	$92.19M	$70.36M	$62.13M	$74.80M	$59.17M	$52.03M	$56.03M	$55.56M	$39.68M	$67.11M	$48.26M
Free cash flow	$55.79M	$92.19M	$70.36M	$62.13M	$74.80M	$59.17M	$52.03M	$56.03M	$55.56M	$39.68M	$67.11M	$48.26M
Investing cash flow	$1.88M	$35.16M	$245.97M	$234.22M	$244.55M	$900.75M	$353.25M	$131.02M	$419.86M	$70.02M	$87.61M	-$301.74M
Financing cash flow	-$68.03M	-$107.89M	-$342.17M	-$280.29M	-$265.01M	-$975.63M	-$445.00M	-$163.47M	-$479.52M	-$165.15M	-$123.88M	$250.53M
Dividends paid	$81.71M	$81.73M	$63.48M	$63.47M	$63.75M	$63.94M	$43.48M	$42.33M	$42.31M	$41.31M	$40.59M	$40.41M
Share buybacks	-$1.09M	$0	$0	$0	$0	$19.42M	$56.56M	$6.94M	$37.37M	$38.37M	$11.10M	$58.45M
Stock-based compensation	$1.06M	$1.97M	$2.34M	$2.31M	$2.31M	$3.09M	$3.34M	$3.06M	$3.02M	$4.04M	$3.94M	$3.82M
Depreciation & amortization	$55.79M	$57.17M	$56.65M	$52.75M	$50.25M	$56.33M	$45.64M	$44.78M	$44.44M	$41.61M	$41.51M	$43.56M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.