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 Financials

GNL

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Global Net Lease Inc (GNL) financial statements, including the 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).

Financial Health Signals

Financial Profile 38/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Global Net Lease Inc has an operating margin of 22.4%, meaning the company retains $22 of operating profit per $100 of revenue. This strong profitability earns a score of 72/100, reflecting efficient cost management and pricing power. This is down from 33.0% the prior year.

Growth

Global Net Lease Inc's revenue declined 13.1% year-over-year, from $569.8M to $495.3M. This contraction results in a growth score of 12/100.

Leverage

Global Net Lease Inc carries a low D/E ratio of 1.61, meaning only $1.61 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 69/100, indicating a strong balance sheet with room for future borrowing.

Returns

Global Net Lease Inc generates a -13.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -6.0% the prior year.

Piotroski F-Score Neutral

4/9

Global Net Lease Inc passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

-0.99x

For every $1 of reported earnings, Global Net Lease Inc generates $-0.99 in operating cash flow ($222.8M OCF vs -$225.5M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

0.6x

Global Net Lease Inc earns $0.6 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

$495.3M

YoY-13.1%

5Y CAGR+8.5%

10Y CAGR+9.2%

Global Net Lease Inc generated $495.3M in revenue in fiscal year 2025. This represents a decrease of 13.1% from the prior year.

EBITDA

$302.2M

YoY-25.4%

5Y CAGR+4.9%

10Y CAGR+9.4%

Global Net Lease Inc's EBITDA was $302.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 25.4% from the prior year.

Net Income

-$225.5M

YoY-71.4%

Global Net Lease Inc reported -$225.5M in net income in fiscal year 2025. This represents a decrease of 71.4% from the prior year.

EPS (Diluted)

$-1.21

YoY-59.2%

Global Net Lease Inc earned $-1.21 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 59.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$180.1M

YoY+12.8%

5Y CAGR+7.7%

10Y CAGR+9.4%

Global Net Lease Inc held $180.1M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.84

YoY-28.4%

5Y CAGR-13.4%

Global Net Lease Inc paid $0.84 per share in dividends in fiscal year 2025. This represents a decrease of 28.4% from the prior year.

Shares Outstanding

216M

YoY-6.5%

5Y CAGR+19.2%

10Y CAGR+2.5%

Global Net Lease Inc had 216M shares outstanding in fiscal year 2025. This represents a decrease of 6.5% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

22.4%

YoY-10.6pp

5Y CAGR-7.6pp

10Y CAGR+6.2pp

Global Net Lease Inc's operating margin was 22.4% in fiscal year 2025, reflecting core business profitability. This is down 10.6 percentage points from the prior year.

Net Margin

-45.5%

YoY-22.4pp

5Y CAGR-48.8pp

10Y CAGR-44.5pp

Global Net Lease Inc's net profit margin was -45.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 22.4 percentage points from the prior year.

Return on Equity

-13.6%

YoY-7.5pp

5Y CAGR-14.3pp

10Y CAGR-13.4pp

Global Net Lease Inc's ROE was -13.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 7.5 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$120.3M

10Y CAGR+48.5%

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

Capital Expenditures

N/A

GNL Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$495.3M-13.1%	$569.8M+27.8%	$445.8M+17.7%	$378.9M-3.2%	$391.2M+18.5%	$330.1M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$52.8M+0.8%	$52.4M+40.7%	$37.2M+109.7%	$17.7M+2.9%	$17.2M+29.9%	$13.3M
Operating Income	$111.0M-41.0%	$188.1M+1330.1%	-$15.3M-115.2%	$100.5M-10.2%	$111.9M+12.8%	$99.2M
Interest Expense	$194.7M-23.8%	$255.7M+42.5%	$179.4M+84.0%	$97.5M+3.4%	$94.3M+31.4%	$71.8M
Income Tax	$21.8M+390.5%	$4.4M-69.3%	$14.5M+31.2%	$11.0M-9.2%	$12.2M+144.6%	$5.0M
Net Income	-$225.5M-71.4%	-$131.6M+37.9%	-$211.9M-1862.5%	$12.0M+5.8%	$11.4M+5.5%	$10.8M
EPS (Diluted)	$-1.21-59.2%	$-0.76+55.6%	$-1.71-1800.0%	$-0.09+55.0%	$-0.20-122.2%	$-0.09

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$117.0M-3.4%	$121.0M-3.1%	$124.9M-5.7%	$132.4M-3.9%	$137.8M-0.6%	$138.7M-4.7%	$145.5M-1.6%	$147.9M
Cost of Revenue	N/A	N/A	N/A	N/A	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
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$13.4M+13.0%	$11.8M+4.4%	$11.3M-30.0%	$16.2M+24.5%	$13.0M+19.0%	$10.9M-20.4%	$13.7M-6.3%	$14.7M
Operating Income	$110.7M+880.9%	-$14.2M-133.5%	$42.3M+251.7%	-$27.9M-149.5%	$56.3M+338.1%	$12.8M-79.3%	$61.9M+8.5%	$57.1M
Interest Expense	$42.6M-5.9%	$45.3M-15.1%	$53.3M-0.2%	$53.4M+28.9%	$41.4M-30.4%	$59.5M-17.3%	$72.0M-13.0%	$82.8M
Income Tax	$12.4M+302.1%	$3.1M+3.2%	$3.0M-8.7%	$3.3M+220.0%	$1.0M-21.9%	$1.3M+624.8%	-$250K-110.6%	$2.4M
Net Income	$48.2M+180.1%	-$60.1M-149.0%	-$24.1M+87.3%	-$189.4M-2803.7%	-$6.5M+90.1%	-$65.6M-84.0%	-$35.7M-50.2%	-$23.8M
EPS (Diluted)	N/A	$-0.32-100.0%	$-0.16+81.6%	$-0.87	N/A	$-0.33-65.0%	$-0.20-33.3%	$-0.15

GNL Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$4.3B-37.5%	$7.0B-14.1%	$8.1B+104.4%	$4.0B-5.3%	$4.2B+5.4%	$4.0B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$180.1M+12.8%	$159.7M+31.4%	$121.6M+17.6%	$103.3M+15.2%	$89.7M-27.8%	$124.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$45.9M-10.7%	$51.4M+9.4%	$47.0M+119.9%	$21.4M-3.2%	$22.1M	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
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	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
Retained Earnings	-$2.6B-21.4%	-$2.2B-26.3%	-$1.7B-36.4%	-$1.2B-16.3%	-$1.1B-19.6%	-$896.5M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$4.3B-8.8%	$4.8B-4.4%	$5.0B-13.9%	$5.8B-16.8%	$7.0B-5.2%	$7.3B-3.6%	$7.6B-4.5%	$8.0B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$180.1M+9.1%	$165.1M+14.0%	$144.8M-1.5%	$147.0M-7.9%	$159.7M+25.5%	$127.2M+4.1%	$122.2M-7.4%	$131.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$45.9M-0.2%	$46.0M-0.1%	$46.0M+2.6%	$44.8M-12.7%	$51.4M-1.7%	$52.3M+4.5%	$50.0M+3.0%	$48.5M
Total Liabilities	$2.7B-12.4%	$3.1B-2.8%	$3.2B-18.6%	$3.9B-18.8%	$4.8B-5.8%	$5.1B-2.5%	$5.2B-4.6%	$5.4B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.7B-2.2%	$1.7B-7.2%	$1.8B-4.3%	$1.9B-12.4%	$2.2B-3.8%	$2.3B-6.1%	$2.4B-4.1%	$2.5B
Retained Earnings	-$2.6B-0.2%	-$2.6B-4.5%	-$2.5B-3.3%	-$2.4B-12.3%	-$2.2B-3.9%	-$2.1B-7.3%	-$1.9B-6.1%	-$1.8B

GNL Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$222.8M-25.6%	$299.5M+108.3%	$143.7M-20.9%	$181.8M-5.5%	$192.5M+8.8%	$176.9M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$1.8B+137.5%	$759.9M+237.7%	-$551.9M-3237.4%	-$16.5M+96.2%	-$436.6M+7.2%	-$470.5M
Financing Cash Flow	-$2.1B-107.3%	-$995.4M-312.2%	$469.0M+413.2%	-$149.7M-168.6%	$218.3M+55.2%	$140.7M
Dividends Paid	$192.1M-29.5%	$272.4M+31.6%	$207.0M+24.1%	$166.8M+6.8%	$156.2M+0.7%	$155.1M
Share Buybacks	$120.3M	$0	$0-100.0%	$686K+339.7%	$156K	$0

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$55.6M-0.8%	$56.0M+7.7%	$52.0M-12.1%	$59.2M-20.9%	$74.8M+20.4%	$62.1M-11.7%	$70.4M-23.7%	$92.2M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$419.9M+220.5%	$131.0M-62.9%	$353.3M-60.8%	$900.7M+268.3%	$244.6M+4.4%	$234.2M-4.8%	$246.0M+599.6%	$35.2M
Financing Cash Flow	-$479.5M-193.3%	-$163.5M+63.3%	-$445.0M+54.4%	-$975.6M-268.2%	-$265.0M+5.5%	-$280.3M+18.1%	-$342.2M-217.1%	-$107.9M
Dividends Paid	$42.3M0.0%	$42.3M-2.6%	$43.5M-32.0%	$63.9M+0.3%	$63.8M+0.5%	$63.5M0.0%	$63.5M-22.3%	$81.7M
Share Buybacks	$37.4M+438.4%	$6.9M-87.7%	$56.6M+191.3%	$19.4M	$0	$0	$0	$0

GNL Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	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%
Net Margin	-45.5%-22.4pp	-23.1%+24.4pp	-47.5%-50.7pp	3.2%+0.3pp	2.9%-0.4pp	3.3%
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%
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%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.61-0.6	2.18+0.1	2.07+0.3	1.74+0.2	1.580.0	1.57
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	94.7%+106.4pp	-11.7%-45.6pp	33.9%+54.9pp	-21.1%-61.9pp	40.8%+31.6pp	9.3%-33.3pp	42.6%+4.0pp	38.6%
Net Margin	41.2%+90.9pp	-49.7%-30.3pp	-19.3%+123.7pp	-143.0%-138.3pp	-4.7%+42.6pp	-47.3%-22.8pp	-24.5%-8.5pp	-16.1%
Return on Equity	2.9%+6.4pp	-3.5%-2.2pp	-1.3%+8.6pp	-9.9%-9.6pp	-0.3%+2.6pp	-2.9%-1.4pp	-1.5%-0.5pp	-0.9%
Return on Assets	1.1%+2.4pp	-1.3%-0.8pp	-0.5%+2.8pp	-3.3%-3.2pp	-0.1%+0.8pp	-0.9%-0.4pp	-0.5%-0.2pp	-0.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.61-0.2	1.80+0.1	1.72-0.3	2.02-0.2	2.18-0.0	2.23+0.1	2.14-0.0	2.16
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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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 216M 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 Piotroski F-Score?

Global Net Lease Inc (GNL) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. 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 7–9 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) has an earnings quality ratio of -0.99x, considered mixed quality. 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 0.6x, 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 38 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.