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Stocks · Real estate · Real Estate Investment Trusts

Global Net Lease, Inc.

GNL Clue Score48
United States Fiscal year ends December CIK 0001526113
$7.75 -2.64% Close, 9 Oct 2026
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Price $7.75 −50.98% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue214.2Operating income73.6Net income47.1Fiscal year 2017Revenue259.3 +21.1%Operating income87.1Net income23.6 −50.0%EPS, diluted0.30Fiscal year 2018Revenue282.2 +8.8%Operating income68.0Net income10.9 −53.8%EPS, diluted0.01Fiscal year 2019Revenue306.2 +8.5%Operating income114.9Net income46.5 +326.5%EPS, diluted0.39Fiscal year 2020Revenue330.1 +7.8%Operating income99.2Net income10.8 −76.8%EPS, diluted−0.09Fiscal year 2021Revenue391.2 +18.5%Operating income111.9Net income11.4 +5.5%EPS, diluted−0.20Fiscal year 2022Revenue378.9 −3.2%Operating income100.5Net income12.0 +5.8%EPS, diluted−0.09Fiscal year 2023Revenue445.8 +17.7%Operating income−15.3Net income−211.9 −1,862.5%EPS, diluted−1.71Fiscal year 2024Revenue569.8 +27.8%Operating income188.1Net income−131.6EPS, diluted−0.76Fiscal year 2025Revenue495.3 −13.1%Operating income111.0Net income−225.5EPS, diluted−1.21
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 214.2 259.3 282.2 306.2 330.1 391.2 378.9 445.8 569.8 495.3
Growth +21.1% +8.8% +8.5% +7.8% +18.5% −3.2% +17.7% +27.8% −13.1%
Operating income 73.6 87.1 68.0 114.9 99.2 111.9 100.5 −15.3 188.1 111.0
Net income 47.1 23.6 10.9 46.5 10.8 11.4 12.0 −211.9 −131.6 −225.5
Growth −50.0% −53.8% +326.5% −76.8% +5.5% +5.8% −1,862.5%
EPS, diluted n/a 0.30 0.01 0.39 −0.09 −0.20 −0.09 −1.71 −0.76 −1.21

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin34.4%Net margin22.0%Free cash flow margin53.3%Fiscal year 2017Operating margin33.6%Net margin9.1%Free cash flow margin49.3%Fiscal year 2018Operating margin24.1%Net margin3.9%Free cash flow margin50.7%Fiscal year 2019Operating margin37.5%Net margin15.2%Free cash flow margin42.0%Fiscal year 2020Operating margin30.1%Net margin3.3%Fiscal year 2021Operating margin28.6%Net margin2.9%Fiscal year 2022Operating margin26.5%Net margin3.2%Fiscal year 2023Operating margin−3.4%Net margin−47.5%Fiscal year 2024Operating margin33.0%Net margin−23.1%Fiscal year 2025Operating margin22.4%Net margin−45.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
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% 9.1% 3.9% 15.2% 3.3% 2.9% 3.2% −47.5% −23.1% −45.5%
Free cash flow margin 53.3% 49.3% 50.7% 42.0% n/a n/a n/a n/a n/a n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow114.4Capital expenditure−0.2Free cash flow114.2Buybacks0.0Dividends paid−120.4Fiscal year 2017Operating cash flow131.0Capital expenditure−3.1Free cash flow127.8 +11.9%Buybacks0.0Dividends paid−142.7Fiscal year 2018Operating cash flow144.6Capital expenditure−1.5Free cash flow143.1 +12.0%Dividends paid−147.4Fiscal year 2019Operating cash flow146.0Capital expenditure−17.3Free cash flow128.7 −10.1%Buybacks0.0Dividends paid−150.8Fiscal year 2020Operating cash flow176.9Buybacks0.0Dividends paid−155.1Fiscal year 2021Operating cash flow192.5Buybacks−0.2Dividends paid−156.2Fiscal year 2022Operating cash flow181.8Buybacks−0.7Dividends paid−166.8Fiscal year 2023Operating cash flow143.7Buybacks0.0Dividends paid−207.0Fiscal year 2024Operating cash flow299.5Buybacks0.0Dividends paid−272.4Fiscal year 2025Operating cash flow222.8Buybacks−120.3Dividends paid−192.1
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 114.4 131.0 144.6 146.0 176.9 192.5 181.8 143.7 299.5 222.8
Capital expenditure −0.2 −3.1 −1.5 −17.3 n/a n/a n/a n/a n/a n/a
Free cash flow 114.2 127.8 143.1 128.7 n/a n/a n/a n/a n/a n/a
Growth +11.9% +12.0% −10.1%
Buybacks 0.0 0.0 n/a 0.0 0.0 −0.2 −0.7 0.0 0.0 −120.3
Dividends paid −120.4 −142.7 −147.4 −150.8 −155.1 −156.2 −166.8 −207.0 −272.4 −192.1

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash77.3Total debt55.4Net cash (debt)21.9Shareholders’ equity1,347.8Debt to equity0.04Fiscal year 2017Cash102.4Total debt0.0Net cash (debt)102.4Shareholders’ equity1,413.2Debt to equity0.00Fiscal year 2018Cash100.3Shareholders’ equity1,425.5Fiscal year 2019Cash270.3Shareholders’ equity1,697.6Fiscal year 2020Cash124.2Shareholders’ equity1,532.5Fiscal year 2021Cash89.7Shareholders’ equity1,620.7Fiscal year 2022Cash103.3Shareholders’ equity1,439.0Fiscal year 2023Cash121.6Shareholders’ equity2,637.8Fiscal year 2024Cash159.7Shareholders’ equity2,187.0Fiscal year 2025Cash180.1Shareholders’ equity1,663.5
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 77.3 102.4 100.3 270.3 124.2 89.7 103.3 121.6 159.7 180.1
Total debt 55.4 0.0 n/a n/a n/a n/a n/a n/a n/a n/a
Net cash (debt) 21.9 102.4 n/a n/a n/a n/a n/a n/a n/a n/a
Shareholders’ equity 1,347.8 1,413.2 1,425.5 1,697.6 1,532.5 1,620.7 1,439.0 2,637.8 2,187.0 1,663.5
Debt to equity 0.04 0.00 n/a n/a n/a n/a n/a n/a n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
34.4% 33.6% 24.1% 37.5% 30.1% 28.6% 26.5% −3.4% 33.0% 22.4%
24.3% 10.3% 4.7% 16.6% 4.8% 6.0% 6.1% −39.6% −13.1% −23.0%
22.0% 9.1% 3.9% 15.2% 3.3% 2.9% 3.2% −47.5% −23.1% −45.5%
53.3% 49.3% 50.7% 42.0% n/a n/a n/a n/a n/a n/a
Spending
3.3% 3.3% 3.7% 3.3% 4.0% 4.4% 4.7% 8.3% 9.2% 10.7%
0.1% 1.2% 0.5% 5.7% n/a n/a n/a n/a n/a n/a
8.5% 11.7% 18.3% 8.5% 31.6% 51.7% 47.9% n/a n/a n/a
Returns
3.5% 1.7% 0.8% 2.7% 0.7% 0.7% 0.8% −8.0% −6.0% −13.6%
1.6% 0.8% 0.3% 1.3% 0.3% 0.3% 0.3% −2.6% −1.9% −5.2%
Balance and payout
0.04 0.00 n/a n/a n/a n/a n/a n/a n/a n/a
53.1% 53.5% 56.8% 53.8% 60.8% 61.1% 63.3% 67.4% 68.6% 61.7%
255.4% 605.2% 1,353.1% 324.4% 1,438.7% 1,374.4% 1,387.6% n/a n/a n/a
105.4% 111.7% 103.0% 117.2% n/a n/a n/a n/a n/a n/a