What is Global Net Lease, Inc.'s earnings per share (EPS)?

Global Net Lease, Inc. (GNL) reported diluted earnings per share of -$1.21 for fiscal year 2025. This represents a -59.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Global Net Lease, Inc. (GNL) Financials

GNL

Trailing 12 months to June 30, 2026

Revenue $459.7M -13.9% YoY

Net Income -$13.5M +95.3% YoY

EPS (Diluted) -$0.28 +80.4% YoY

Operating Cash Flow $218.4M -12.0% YoY

Market Cap $1.8B as of Oct 9, 2026

Price / Sales 4.0x on $459.7M revenue, trailing 12 months to June 30, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to June 30, 2026

Price / Book 1.2x on $1.5B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 9, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 5, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the GNL SEC filings page.

Global Net Lease, Inc. (GNL) reported $459.7M in revenue over the twelve months to Jun 30, 2026, down 13.9% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI GNL FY2025 2026-10-03

Global Net Lease is an asset-heavy landlord whose reported cash generation is absorbed by financing costs, distributions, and portfolio reshaping.

FY2025 combined a net loss of $225M with operating cash flow of $223M, a near match in opposite directions that reflects substantial non-cash property charges rather than cash earnings strength. Depreciation and amortization was $191M, while interest expense was $195M, so property accounting charges and financing costs are simultaneously pulling reported profit below operating cash generation.

Debt-to-equity fell from 2.2x in FY2024 to 1.6x in FY2025 as total assets contracted sharply, indicating a less debt-loaded structure but also a smaller asset base. The combination of an investing inflow of $1.8B and a financing outflow of $2.1B suggests asset disposals were paired with balance-sheet restructuring rather than funded expansion.

Revenue fell from $570M in FY2024 to $495M in FY2025, so the latest year did not preserve its prior scale. Operating margin also narrowed from 33.0% to 22.4%, while dividends of $192M consumed most of operating cash flow of $223M, leaving limited cash for other uses.

Financial Health Signals

Financial Health Score 13/100

Scored as: REITs peer group

Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Global Net Lease, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

FFO Margin

FFO Margin measures funds from operations against revenue, and funds from operations is net income with property depreciation added back, since a building written down a little further every year on paper is often worth more rather than less. Global Net Lease, Inc. scores 13/100 on it among other REITs.

FFO Growth

FFO Growth follows the three-year path of funds from operations, which is net income with property depreciation added back. Global Net Lease, Inc. scores 1/100 on it among other REITs.

Leverage

Not available for Global Net Lease, Inc., and counted as zero in the overall score.

Interest Cov.

Global Net Lease, Inc.'s operating income of $111.0M covered its interest expense of $194.7M 0.57 times over in fiscal year 2025. The interest coverage axis ranks REITs on operating income against interest owed, and Global Net Lease, Inc. scores 38/100 among other REITs.

AFFO Margin

AFFO Margin takes funds from operations, subtracts the spending a REIT needs just to keep its properties in working order, and measures what is left against revenue. Global Net Lease, Inc. scores 17/100 on it among other REITs.

Dividend Cov.

Dividend coverage measures funds from operations against the dividends actually paid, and a figure above 1 means the payout came out of operations. Global Net Lease, Inc. scores 9/100 on it among other REITs.

Piotroski F-Score Partial

4/6

Global Net Lease, Inc. passes 4 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

N/A

Global Net Lease, Inc. reported a net loss of $225.5M while generating $222.8M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.

Interest Coverage At Risk

0.57x

Global Net Lease, Inc. earns $0.57 in operating income for every $1 of interest expense ($111.0M vs $194.7M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$112.5M

YoY-10.0%

QoQ+2.9%

5Y CAGR+2.5%

10Y CAGR+7.8%

Global Net Lease, Inc. generated $112.5M in revenue in Q2 2026. This represents a decrease of 10.0% from the same quarter a year earlier. Against the prior quarter it is up 2.9%.

EBITDA

$96.2M

YoY+9.5%

QoQ+32.7%

5Y CAGR+7.0%

Global Net Lease, Inc.'s EBITDA was $96.2M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 9.5% from the same quarter a year earlier. Against the prior quarter it is up 32.7%.

Net Income

$3.5M

YoY+114.4%

QoQ+168.6%

5Y CAGR+6.1%

10Y CAGR-14.0%

Global Net Lease, Inc. reported $3.5M in net income in Q2 2026. This represents an increase of 114.4% from the same quarter a year earlier. Against the prior quarter it is up 168.6%.

EPS (Diluted)

-$0.04

YoY+75.0%

QoQ+50.0%

Global Net Lease, Inc. earned -$0.04 per diluted share (EPS) in Q2 2026. This represents an increase of 75.0% from the same quarter a year earlier. Against the prior quarter it is up 50.0%.

Cash & Balance Sheet

Cash & Debt

$153.6M

YoY+6.1%

QoQ+22.4%

5Y CAGR-2.6%

10Y CAGR+14.3%

Global Net Lease, Inc. held $153.6M in cash as of Q2 2026; long-term debt is not reported for that period.

Dividends Per Share

$0.19

YoY0.0%

QoQ0.0%

5Y CAGR-13.8%

Global Net Lease, Inc. paid $0.19 per share in dividends in Q2 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

211M

YoY-4.5%

QoQ-0.5%

5Y CAGR+16.0%

10Y CAGR+2.2%

Global Net Lease, Inc. had 211M shares outstanding in Q2 2026. This represents a decrease of 4.5% from the same quarter a year earlier. Against the prior quarter it is down 0.5%.

Free Cash Flow

Not reported for Q2 2026.

Margins & Returns

Operating Margin

48.7%

YoY+14.8pp

QoQ+20.3pp

5Y change+19.6pp

Global Net Lease, Inc.'s operating margin was 48.7% in Q2 2026, reflecting core business profitability. This is up 14.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 20.3 percentage points.

Net Margin

3.1%

YoY+22.4pp

QoQ+7.8pp

5Y change+0.5pp

10Y change-26.5pp

Global Net Lease, Inc.'s net profit margin was 3.1% in Q2 2026, showing the share of revenue converted to profit. This is up 22.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 7.8 percentage points.

Return on Equity

0.2%

YoY+1.6pp

QoQ+0.6pp

5Y change+0.1pp

10Y change-1.1pp

Global Net Lease, Inc.'s ROE was 0.2% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 1.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.6 percentage points.

Gross Margin

Not reported for Q2 2026.

Capital Allocation

Share Buybacks

$11.1M

YoY-80.4%

QoQ-71.1%

Global Net Lease, Inc. spent $11.1M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 80.4% from the same quarter a year earlier. Against the prior quarter it is down 71.1%.

R&D Spending

Not reported for Q2 2026.

Capital Expenditures

Not reported for Q2 2026.

GNL Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

GNL quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Revenue	$459.7M	$495.3M-13.1%	$569.8M+27.8%	$445.8M+17.7%	$378.9M-3.2%	$391.2M+18.5%	$330.1M+7.8%	$306.2M+8.5%	$282.2M+8.8%	$259.3M+21.1%	$214.2M+4.3%	$205.3M+119.9%	$93.4M+2263.5%	$4.0M+13070.0%	$30K
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$28.2M+15.4%	$24.5M+23.8%	$19.8M	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$254.0M+8.1%	$234.8M+20.8%	$194.4M	N/A	N/A	N/A	N/A
SG&A Expenses	$49.2M	$52.8M+0.8%	$52.4M+40.7%	$37.2M+109.7%	$17.7M+2.9%	$17.2M+29.9%	$13.3M+31.2%	$10.1M-3.2%	$10.4M+20.7%	$8.6M+21.7%	$7.1M-0.9%	$7.2M+66.3%	$4.3M+7337.9%	$58K-68.3%	$183K
Operating Income	$182.2M	$111.0M-41.0%	$188.1M+1330.1%	-$15.3M-115.2%	$100.5M-10.2%	$111.9M+12.8%	$99.2M-13.6%	$114.9M+68.9%	$68.0M-21.9%	$87.1M+18.4%	$73.6M+121.7%	$33.2M+176.2%	-$43.6M-619.3%	-$6.1M-1402.7%	-$403K
EBITDA	N/A	$302.2M-25.4%	$404.9M+146.8%	$164.1M-35.6%	$254.6M-7.4%	$275.0M+15.6%	$237.8M-1.3%	$240.9M+28.4%	$187.6M-6.3%	$200.2M+19.1%	$168.1M+36.3%	$123.3M+3985.3%	-$3.2M+19.5%	-$3.9M-932.5%	-$382K
Interest Expense	$165.9M	$194.7M-23.8%	$255.7M+42.5%	$179.4M+84.0%	$97.5M+3.4%	$94.3M+31.4%	$71.8M+11.8%	$64.2M+10.7%	$58.0M+19.7%	$48.5M+23.8%	$39.1M+12.2%	$34.9M+134.7%	$14.9M+1432.7%	$969K+9590.0%	$10K
Income Tax	$21.9M	$21.8M+390.5%	$4.4M-69.3%	$14.5M+31.2%	$11.0M-9.2%	$12.2M+144.6%	$5.0M+14.7%	$4.3M+78.0%	$2.4M-22.5%	$3.1M-29.0%	$4.4M-24.9%	$5.9M+511.5%	-$1.4M	$0	$0
Net Income	-$13.5M	-$225.5M-71.4%	-$131.6M+37.9%	-$211.9M-1862.5%	$12.0M+5.8%	$11.4M+5.5%	$10.8M-76.8%	$46.5M+326.5%	$10.9M-53.8%	$23.6M-50.0%	$47.1M+2382.8%	-$2.1M+96.1%	-$53.6M-666.8%	-$7.0M-1592.3%	-$413K
EPS (Basic)	N/A	-$1.21-59.2%	-$0.76+55.6%	-$1.71-1800.0%	-$0.09+55.0%	-$0.20-122.2%	-$0.09-122.5%	$0.40+3900.0%	$0.01-96.7%	$0.30	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	-$0.28	-$1.21-59.2%	-$0.76+55.6%	-$1.71	-$0.09+55.0%	-$0.20-122.2%	-$0.09-123.1%	$0.39	$0.01	$0.30	N/A	N/A	N/A	N/A	N/A
Diluted Shares (Avg)	N/A	223M-3.1%	230M+61.6%	143M	104M+5.5%	98M+9.8%	89M+3.6%	86M	70M	67M	57M	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$112.5M-10.0%	$109.3M-17.5%	$117.0M-15.1%	$121.0M-12.7%	$124.9M-14.1%	$132.4M-10.5%	$137.8M+0.3%	$138.7M+17.3%
SG&A Expenses	$11.9M+4.8%	$12.1M-25.1%	$13.4M+2.8%	$11.8M+8.2%	$11.3M-17.5%	$16.2M+10.5%	$13.0M-6.3%	$10.9M+56.8%
Operating Income	$54.7M+29.4%	$30.9M+211.0%	$110.7M+96.8%	-$14.2M-210.4%	$42.3M-31.7%	-$27.9M-148.8%	$56.3M+24.0%	$12.8M+113.4%
EBITDA	$96.2M+9.5%	$72.6M+154.9%	$155.2M+45.7%	$30.6M-53.4%	$87.9M-25.8%	$28.5M-75.1%	$106.5M+5.3%	$65.6M+241.6%
Interest Expense	$38.8M-27.2%	$39.2M-26.7%	$42.6M+2.9%	$45.3M-23.9%	$53.3M-25.9%	$53.4M-35.4%	$41.4M-50.4%	$59.5M+44.6%
Income Tax	$4.8M+59.4%	$1.6M-49.9%	$12.4M+1113.1%	$3.1M+135.7%	$3.0M+1298.0%	$3.3M+39.1%	$1.0M-81.2%	$1.3M-53.2%
Net Income	$3.5M+114.4%	-$5.1M+97.3%	$48.2M+838.7%	-$60.1M+8.4%	-$24.1M+32.3%	-$189.4M-697.4%	-$6.5M+86.6%	-$65.6M+51.8%
EPS (Basic)	-$0.04+75.0%	-$0.08+90.8%	$0.16+328.6%	-$0.32+3.0%	-$0.16+20.0%	-$0.87-480.0%	-$0.07+22.2%	-$0.33+70.3%
EPS (Diluted)	-$0.04+75.0%	-$0.08	$0.16	-$0.32+3.0%	-$0.16+20.0%	-$0.87-480.0%	-$0.07	-$0.33
Diluted Shares (Avg)	211M-5.2%	214M	N/A	221M-4.2%	223M-3.2%	230M0.0%	N/A	230M

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.

GNL Balance Sheet

GNL quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Total Assets	$4.3B-37.5%	$7.0B-14.1%	$8.1B+104.4%	$4.0B-5.3%	$4.2B+5.4%	$4.0B+7.2%	$3.7B+11.8%	$3.3B+8.9%	$3.0B+5.1%	$2.9B+13.8%	$2.5B+4.6%	$2.4B+1030.1%	$214.9M+7227.9%	$2.9M
Cash & Equivalents	$180.1M+12.8%	$159.7M+31.4%	$121.6M+17.6%	$103.3M+15.2%	$89.7M-27.8%	$124.2M-54.0%	$270.3M+169.4%	$100.3M-2.1%	$102.4M+32.5%	$77.3M+5.6%	$73.3M+3.5%	$70.8M+515.5%	$11.5M+4289.3%	$262K
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$45.9M-10.7%	$51.4M+9.4%	$47.0M+119.9%	$21.4M-3.2%	$22.1M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.7B-43.7%	$4.8B-12.7%	$5.5B+117.7%	$2.5B-1.9%	$2.6B+6.0%	$2.4B+21.1%	$2.0B+5.9%	$1.9B+15.8%	$1.6B+5.8%	$1.5B+16.3%	$1.3B+30.5%	$1.0B+997.7%	$92.2M+2372.7%	$3.7M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0-100.0%	$55.4M	$0	N/A	N/A	N/A
Total Equity	$1.7B-23.9%	$2.2B-17.1%	$2.6B+83.3%	$1.4B-11.2%	$1.6B+5.8%	$1.5B-9.7%	$1.7B+19.1%	$1.4B+0.9%	$1.4B+4.9%	$1.3B+11.8%	$1.2B-14.9%	$1.4B+1054.4%	$122.7M+15517.1%	-$796K
Retained Earnings	-$2.6B-21.4%	-$2.2B-26.3%	-$1.7B-36.4%	-$1.2B-16.3%	-$1.1B-19.6%	-$896.5M-22.3%	-$733.2M-19.1%	-$615.4M-31.4%	-$468.4M-35.4%	-$346.1M-26.8%	-$272.8M-75.9%	-$155.1M-1266.9%	-$11.3M-2450.1%	-$445K

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$4.1B-18.4%	$4.2B-28.3%	$4.3B-37.5%	$4.8B-35.0%	$5.0B-34.5%	$5.8B-27.3%	$7.0B-14.1%	$7.3B-10.4%
Cash & Equivalents	$153.6M+6.1%	$125.5M-14.7%	$180.1M+12.8%	$165.1M+29.7%	$144.8M+18.5%	$147.0M+11.5%	$159.7M+31.4%	$127.2M-4.6%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$45.5M-1.1%	$45.6M+1.8%	$45.9M-10.7%	$46.0M-12.0%	$46.0M-8.0%	$44.8M-7.6%	$51.4M+9.4%	$52.3M+2.4%
Total Liabilities	$2.6B-18.9%	$2.6B-33.1%	$2.7B-43.7%	$3.1B-39.5%	$3.2B-39.3%	$3.9B-28.8%	$4.8B-12.7%	$5.1B-6.1%
Total Equity	$1.5B-17.6%	$1.6B-18.5%	$1.7B-23.9%	$1.7B-25.1%	$1.8B-24.3%	$1.9B-24.1%	$2.2B-17.1%	$2.3B-18.6%
Retained Earnings	-$2.7B-9.0%	-$2.7B-10.5%	-$2.6B-21.4%	-$2.6B-26.0%	-$2.5B-29.2%	-$2.4B-32.8%	-$2.2B-26.3%	-$2.1B-32.6%

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Current Liabilities, Non-Current Liabilities, Long-Term Debt.

GNL Cash Flow Statement

GNL quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Operating Cash Flow	$218.4M	$222.8M-25.6%	$299.5M+108.3%	$143.7M-20.9%	$181.8M-5.5%	$192.5M+8.8%	$176.9M+21.1%	$146.0M+1.0%	$144.6M+10.4%	$131.0M+14.5%	$114.4M+12.0%	$102.2M+1153.9%	-$9.7M-165.8%	-$3.6M-772.5%	-$418K
Depreciation & Amortization	N/A	$191.2M-11.8%	$216.8M+20.9%	$179.4M+16.4%	$154.0M-5.5%	$163.1M+17.7%	$138.5M+10.0%	$126.0M+5.4%	$119.6M+5.8%	$113.0M+19.7%	$94.5M+4.9%	$90.1M+123.0%	$40.4M+1812.3%	$2.1M+9957.1%	$21K
Stock-Based Compensation	N/A	$12.5M+40.1%	$8.9M-48.4%	$17.3M+43.3%	$12.1M+9.4%	$11.0M+9.6%	$10.1M+5.6%	$9.5M+259.8%	$2.6M+169.9%	-$3.8M-201.0%	$3.7M+59.8%	$2.3M+2112.3%	$106K+341.7%	$24K+118.2%	$11K
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$17.3M+1093.0%	$1.5M-53.4%	$3.1M+1459.0%	$200K-98.1%	$10.5M+18.7%	$8.8M	$0	$0
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$128.7M-10.1%	$143.1M+12.0%	$127.8M+11.9%	$114.2M+24.6%	$91.7M+594.6%	-$18.5M-408.1%	-$3.6M-772.5%	-$418K
Investing Cash Flow	$708.5M	$1.8B+137.5%	$759.9M+237.7%	-$551.9M-3237.4%	-$16.5M+96.2%	-$436.6M+7.2%	-$470.5M-59.8%	-$294.5M+35.7%	-$457.9M-479.8%	-$79.0M-158.9%	$134.1M+160.4%	-$222.3M+85.3%	-$1.5B-1260.7%	-$111.5M-8116.7%	-$1.4M
Financing Cash Flow	-$932.0M	-$2.1B-107.3%	-$995.4M-312.2%	$469.0M+413.2%	-$149.7M-168.6%	$218.3M+55.2%	$140.7M-53.1%	$300.0M-3.9%	$312.2M+1118.3%	-$30.7M+87.0%	-$236.7M-299.2%	$118.8M-92.5%	$1.6B+1174.4%	$124.2M+6027.7%	$2.0M
Dividends Paid	$166.5M	$192.1M-29.5%	$272.4M+31.6%	$207.0M+24.1%	$166.8M+6.8%	$156.2M+0.7%	$155.1M+2.8%	$150.8M+2.3%	$147.4M+3.3%	$142.7M+18.6%	$120.4M+23.2%	$97.7M+176.0%	$35.4M+1902.0%	$1.8M+176800.0%	$1K
Share Buybacks	$93.8M	$120.3M	$0	$0-100.0%	$686K+339.7%	$156K	$0	$0	N/A	$0	$0-100.0%	$2.3M	$0	$0	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$67.1M+29.0%	$39.7M-32.9%	$55.6M-25.7%	$56.0M-9.8%	$52.0M-26.1%	$59.2M-35.8%	$74.8M+34.1%	$62.1M+1629.1%
Depreciation & Amortization	$41.5M-9.0%	$41.6M-26.1%	$44.4M-11.6%	$44.8M-15.1%	$45.6M-19.4%	$56.3M-1.5%	$50.2M-9.9%	$52.7M+7.1%
Stock-Based Compensation	N/A	$4.0M+30.7%	N/A	N/A	N/A	$3.1M+56.8%	N/A	N/A
Investing Cash Flow	$87.6M-75.2%	$70.0M-92.2%	$419.9M+71.7%	$131.0M-44.1%	$353.3M+43.6%	$900.7M+2462.0%	$244.6M+12901.2%	$234.2M+150.8%
Financing Cash Flow	-$123.9M+72.2%	-$165.2M+83.1%	-$479.5M-80.9%	-$163.5M+41.7%	-$445.0M-30.1%	-$975.6M-804.3%	-$265.0M-289.6%	-$280.3M-152.6%
Dividends Paid	$40.6M-6.6%	$41.3M-35.4%	$42.3M-33.6%	$42.3M-33.3%	$43.5M-31.5%	$63.9M-21.8%	$63.8M-22.0%	$63.5M+51.3%
Share Buybacks	$11.1M-80.4%	$38.4M+97.6%	$37.4M	$6.9M	$56.6M	$19.4M	$0-100.0%	$0-100.0%

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.

GNL Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

GNL quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	90.0%-0.6pp	90.6%-0.2pp	90.8%	N/A	N/A	N/A	N/A
Operating Margin	22.4%-10.6pp	33.0%+36.4pp	-3.4%-30.0pp	26.5%-2.1pp	28.6%-1.4pp	30.1%-7.5pp	37.5%+13.4pp	24.1%-9.5pp	33.6%-0.8pp	34.4%+18.2pp	16.2%+62.8pp	-46.7%	-153.3%	-1343.3%
Net Margin	-45.5%-22.4pp	-23.1%+24.4pp	-47.5%-50.7pp	3.2%+0.3pp	2.9%-0.4pp	3.3%-11.9pp	15.2%+11.3pp	3.9%-5.2pp	9.1%-12.9pp	22.0%+23.0pp	-1.0%+56.4pp	-57.4%	-176.9%	-1376.7%
Return on Equity	-13.6%-7.5pp	-6.0%+2.0pp	-8.0%-8.9pp	0.8%+0.1pp	0.7%0.0pp	0.7%-2.0pp	2.7%+2.0pp	0.8%-0.9pp	1.7%-1.8pp	3.5%+3.7pp	-0.2%+3.6pp	-3.8%+1.9pp	-5.7%	N/A
Return on Assets	-5.2%-3.3pp	-1.9%+0.7pp	-2.6%-2.9pp	0.3%0.0pp	0.3%0.0pp	0.3%-1.0pp	1.3%+0.9pp	0.3%-0.4pp	0.8%-0.8pp	1.6%+1.7pp	-0.1%+2.1pp	-2.2%+1.0pp	-3.3%+10.8pp	-14.1%
Debt-to-Equity	1.61-0.6x	2.18+0.1x	2.07+0.3x	1.74+0.2x	1.580.0x	1.57+0.4x	1.17-0.1x	1.32+1.3x	0.000.0x	0.040.0x	0.00-0.7x	0.710.0x	0.75	N/A
Asset Turnover	0.110.0x	0.080.0x	0.060.0x	0.100.0x	0.090.0x	0.080.0x	0.080.0x	0.090.0x	0.090.0x	0.070.0x	0.080.0x	0.040.0x	0.020.0x	0.01
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	42.0%-8.7pp	50.7%+1.4pp	49.3%-4.0pp	53.3%+8.7pp	44.6%+64.5pp	-19.8%+72.5pp	-92.3%	-1393.3%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Margin	48.7%+14.8pp	28.3%+49.4pp	94.7%+53.8pp	-11.7%-21.0pp	33.9%-8.7pp	-21.1%-59.6pp	40.8%+7.8pp	9.3%+90.1pp
Net Margin	3.1%+22.4pp	-4.7%	41.2%+45.9pp	-49.7%-2.4pp	-19.3%+5.2pp	-143.0%	-4.7%+30.6pp	-47.3%
Return on Equity	0.2%+1.6pp	-0.3%+9.6pp	2.9%+3.2pp	-3.5%-0.6pp	-1.3%+0.1pp	-9.9%-8.9pp	-0.3%+1.5pp	-2.9%+2.0pp
Return on Assets	0.1%+0.6pp	-0.1%+3.1pp	1.1%+1.2pp	-1.3%-0.4pp	-0.5%0.0pp	-3.3%-3.0pp	-0.1%+0.5pp	-0.9%+0.8pp
Debt-to-Equity	1.690.0x	1.66-0.4x	1.61-0.6x	1.80-0.4x	1.72-0.4x	2.02-0.1x	2.18+0.1x	2.23+0.3x
Asset Turnover	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.020.0x	0.020.0x	0.020.0x

Not reported in any period shown, so not listed: Gross Margin, Current Ratio, FCF Margin.

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Global Net Lease, Inc. GNL	FY2025	$495.3M	-$225.5M	-45.5%	$1.8B	13/100
AMERICAN ASSETS TRUST, INC. AAT	FY2025	$436.2M	$71.4M	16.4%	$1.3B	51/100
Safehold Inc. SAFE	FY2025	$385.6M	$114.5M	29.7%	$851.2M	45/100
Armada Hoffler Properties, Inc. AHH	FY2026	$209.9M	$3.9M	1.9%	$501.0M	48/100
Gladstone Commercial Corporation - REIT GOOD	FY2025	$161.3M	$19.3M	11.9%	$611.4M	43/100
One Liberty Properties, Inc. OLP	FY2025	N/A	$25.5M	N/A	$480.5M	—

Where Global Net Lease, Inc. Ranks

Frequently Asked Questions

What is Global Net Lease, Inc.'s annual revenue?

Global Net Lease, Inc. (GNL) reported $495.3M in total revenue for fiscal year 2025. This represents a -13.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Global Net Lease, Inc.'s revenue growing?

Global Net Lease, Inc. (GNL) revenue declined by 13.1% year-over-year, from $569.8M to $495.3M in fiscal year 2025.

Is Global Net Lease, Inc. profitable?

No, Global Net Lease, Inc. (GNL) reported a net income of -$225.5M in fiscal year 2025, with a net profit margin of -45.5%.

What is Global Net Lease, Inc.'s EBITDA?

Global Net Lease, Inc. (GNL) had EBITDA of $302.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Global Net Lease, Inc.'s operating margin?

Global Net Lease, Inc. (GNL) had an operating margin of 22.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Global Net Lease, Inc.'s net profit margin?

Global Net Lease, Inc. (GNL) had a net profit margin of -45.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Global Net Lease, Inc. pay dividends?

Yes, Global Net Lease, Inc. (GNL) paid $0.84 per share in dividends during fiscal year 2025.

What is Global Net Lease, Inc.'s return on equity (ROE)?

Global Net Lease, Inc. (GNL) has a return on equity of -13.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Global Net Lease, Inc.'s operating cash flow?

Global Net Lease, Inc. (GNL) generated $222.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Global Net Lease, Inc.'s total assets?

Global Net Lease, Inc. (GNL) had $4.3B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Global Net Lease, Inc. buy back shares?

Yes, Global Net Lease, Inc. (GNL) spent $120.3M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Global Net Lease, Inc. have outstanding?

Global Net Lease, Inc. (GNL) had 214M shares outstanding as of fiscal year 2025.

What is Global Net Lease, Inc.'s debt-to-equity ratio?

Global Net Lease, Inc. (GNL) had a debt-to-equity ratio of 1.61 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Global Net Lease, Inc.'s return on assets (ROA)?

Global Net Lease, Inc. (GNL) had a return on assets of -5.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Global Net Lease, Inc.'s P/E ratio?

Global Net Lease, Inc. (GNL) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $1.8B as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Global Net Lease, Inc.'s price-to-sales ratio?

Global Net Lease, Inc. (GNL) trades at 4.0x sales, its market capitalization divided by revenue of $459.7M revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.8B as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Global Net Lease, Inc.'s Piotroski F-Score?

Global Net Lease, Inc. (GNL) has a Piotroski F-Score of 4 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Global Net Lease, Inc.'s earnings high quality?

Global Net Lease, Inc. (GNL) reported a net loss of $225.5M while generating $222.8M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Global Net Lease, Inc. cover its interest payments?

Global Net Lease, Inc. (GNL) has an interest coverage ratio of 0.57x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Global Net Lease, Inc.?

Global Net Lease, Inc. (GNL) scores 13 out of 100 on our Financial Health Score, indicating weak standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.