Global Net Lease, Inc.

GNL

Real EstateMid CapUS Equities · NYSE / NASDAQ

AI Agents

Company Profile

Global Net Lease, Inc. is a publicly traded internally managed real estate investment trust that focuses on acquiring and managing a global portfolio of income producing net lease assets across the U.S., and Western and Northern Europe. Global Net Lease, Inc. was incorporated in 2011 in Maryland, USA.

Valuation

Market Cap$2.0B

Current Price$9.14as of Jun 23, 2026

P/E Ratio-8.83

P/B Ratio1.20

EV / EBITDA14.08

EV / Sales8.86

Profitability

Operating Margin37.9%

Net Profit Margin-45.5%

EBITDA Margin62.9%

Returns

ROE-13.6%

ROCE4.8%

ROIC %-

ROA-5.2%

Solvency

Current Ratio0.84

Debt / Equity1.55

Debt / Assets0.59

CFO / Net Profit-0.99

Price History▲ 19.57% over 1Y

Technical Chart

Historical Performance Charts

5-year financial trends. Figures in USD millions.

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Latest fiscal year: 2025

Revenue$495M▼ 13.1%

EBITDA$311M▼ 43.4%

Net Profit$-225M▲ 71.4%

Cash from Ops (CFO)$223M▼ 25.6%

Free Cash Flow (FCF)$189M▼ 25.4%

Revenue CAGR 3Y9.3%

Revenue CAGR 5Y-

Net Profit CAGR 3Y-

Net Profit CAGR 5Y-

Historical Growth

Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)

Year	Revenue	EBITDA	Net Profit	FCF	ROE	Rev Growth 1Y	NP Growth 1Y
2025	$495M	$311M	$-225M	$189M	-13.6%	-13.1%	71.4%
2024	$570M	$550M	$-132M	$254M	-6.0%	27.8%	-37.9%
2023	$446M	$215M	$-212M	$96M	-8.0%	17.7%	-1862.5%
2022	$379M	$279M	$12M	$152M	0.8%	-	-
2021	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2021	2022	2023	2024	2025
Total Revenue	-	378.86	445.76	569.79	495.29
Operating Revenue	-	378.86	445.76	569.79	495.29
Cost Of Revenue	-	32.88	44.42	64.32	51.21
Gross Profit	-	345.98	401.34	505.47	444.08
Operating Expense	-	223.96	262.13	278.11	256.46
Selling General And Administration	-	69.93	82.78	61.29	65.27
Total Expenses	-	256.83	306.55	342.43	307.66
Operating Income	-	122.02	139.21	227.36	187.62
Total Operating Income As Reported	-	100.54	-15.29	188.12	110.98
EBITDA	-	279.42	215.34	549.85	311.47
Normalized EBITDA	-	281.86	374.76	597.52	422.65
EBIT	-	120.56	-18.40	180.77	80.77
Interest Expense	-	97.51	158.35	255.68	194.72
Net Interest Income	-	-97.51	-158.35	-255.68	-194.72
Other Non Operating Income Expenses	-	0.98	1.81	1.08	4.33
Other Income Expense	-	-1.46	-157.60	-46.59	-106.85
Interest Expense Non Operating	-	97.51	158.35	255.68	194.72
Net Non Operating Interest Income Expense	-	-97.51	-158.35	-255.68	-194.72
Pretax Income	-	23.06	-176.74	-74.92	-113.95
Tax Provision	-	11.03	14.48	4.44	21.80
Tax Rate For Calcs	-	0	0	0	0
Tax Effect Of Unusual Items	-	-0.51	-33.48	-10.01	-23.35
Net Income Continuous Operations	-	12.02	-191.22	-79.36	-135.75
Net Income From Continuing And Discontinued Operation	-	12.02	-211.91	-131.57	-225.46
Net Income From Continuing Operation Net Minority Interest	-	12.02	-191.22	-79.36	-135.75
Net Income	-	12.02	-211.91	-131.57	-225.46
Net Income Common Stockholders	-	-9.30	-243.24	-175.98	-271.10
Net Income Including Noncontrolling Interests	-	12.02	-211.91	-131.57	-225.46
Normalized Income	-	13.95	-65.28	-41.70	-47.91
Diluted NI Availto Com Stockholders	-	-9.30	-243.24	-175.98	-271.10
Basic Average Shares	98.28	103.69	142.58	230.44	-
Diluted Average Shares	98.28	103.69	142.58	230.44	-
Reconciled Depreciation	-	158.86	233.74	369.08	230.70
Reconciled Cost Of Revenue	-	28.04	44.42	64.32	11.70
Total Unusual Items	-	-2.44	-159.41	-47.67	-111.18
Total Unusual Items Excluding Goodwill	-	-2.44	-159.41	-47.67	-111.18
Preferred Stock Dividends	-	20.39	27.44	43.74	43.74
Net Income Discontinuous Operations	-	-	-20.69	-52.21	-89.71
Special Income Charges	-	-23.84	-154.05	-112.21	-182.55
Other Special Charges	-	2.04	30.95	15.88	11.22
Impairment Of Capital Assets	-	21.56	68.68	90.31	164.67
Restructuring And Mergern Acquisition	-	0.24	54.42	6.02	6.66
Gain On Sale Of Security	-	21.41	-5.36	64.54	71.37
Depreciation Amortization Depletion Income Statement	-	154.03	179.35	216.82	191.19
Depreciation And Amortization In Income Statement	-	154.03	179.35	216.82	191.19
General And Administrative Expense	-	69.93	82.78	61.29	65.27
Other Gand A	-	57.86	65.48	52.36	52.75
Salaries And Wages	-	12.07	17.30	8.93	12.51
Otherunder Preferred Stock Dividend	-	0.94	3.89	0.66	1.90

Peer Comparison

Real Estate sector peers, ranked by market cap

Company	Ticker	Market Cap	P/E	P/B	ROE	EV/EBITDA
Global Net Lease, Inc.this co.	GNL	$2.0B	-8.83	1.20	-13.6%	14.08
LXP Industrial Trust	LXP	$3.0B	26.93	1.57	5.8%	10.60
Medical Properties Trust, Inc.	MPT	$3.0B	-	0.65	-6.0%	15.11
Urban Edge Properties	UE	$3.0B	31.72	2.30	7.3%	14.67
Uniti Group Inc.	UNIT	$2.9B	2.19

Learn while you research

Hand-picked academy chapters to deepen your understanding of Global Net Lease, Inc. and the metrics that matter.

01 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 02 Leverage Ratios

Loading…

Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2025

$495M

$311M

$-225M

$189M

-13.6%

-13.1%

71.4%

2024

$570M

$550M

$-132M

$254M

-6.0%

27.8%

-37.9%

2023

$446M

$215M

$-212M

$96M

-8.0%

17.7%

-1862.5%

2022

$379M

$279M

$12M

$152M

0.8%

2021

Metric

2021

2022

2023

2024

2025

Total Revenue

378.86

445.76

569.79

495.29

Operating Revenue

378.86

445.76

569.79

495.29

Cost Of Revenue

32.88

44.42

64.32

51.21

Gross Profit

345.98

401.34

505.47

444.08

Operating Expense

223.96

262.13

278.11

256.46

Selling General And Administration

69.93

82.78

61.29

65.27

Total Expenses

256.83

306.55

342.43

307.66

Operating Income

122.02

139.21

227.36

187.62

Total Operating Income As Reported

100.54

-15.29

188.12

110.98

EBITDA

279.42

215.34

549.85

311.47

Normalized EBITDA

281.86

374.76

597.52

422.65

EBIT

120.56

-18.40

180.77

80.77

Interest Expense

97.51

158.35

255.68

194.72

Net Interest Income

-97.51

-158.35

-255.68

-194.72

Other Non Operating Income Expenses

0.98

1.81

1.08

4.33

Other Income Expense

-1.46

-157.60

-46.59

-106.85

Interest Expense Non Operating

97.51

158.35

255.68

194.72

Net Non Operating Interest Income Expense

-97.51

-158.35

-255.68

-194.72

Pretax Income

23.06

-176.74

-74.92

-113.95

Tax Provision

11.03

14.48

4.44

21.80

Tax Rate For Calcs

Tax Effect Of Unusual Items

-0.51

-33.48

-10.01

-23.35

Net Income Continuous Operations

12.02

-191.22

-79.36

-135.75

Net Income From Continuing And Discontinued Operation

12.02

-211.91

-131.57

-225.46

Net Income From Continuing Operation Net Minority Interest

12.02

-191.22

-79.36

-135.75

Net Income

12.02

-211.91

-131.57

-225.46

Net Income Common Stockholders

-9.30

-243.24

-175.98

-271.10

Net Income Including Noncontrolling Interests

12.02

-211.91

-131.57

-225.46

Normalized Income

13.95

-65.28

-41.70

-47.91

Diluted NI Availto Com Stockholders

-9.30

-243.24

-175.98

-271.10

Basic Average Shares

98.28

103.69

142.58

230.44

Diluted Average Shares

98.28

103.69

142.58

230.44

Reconciled Depreciation

158.86

233.74

369.08

230.70

Reconciled Cost Of Revenue

28.04

44.42

64.32

11.70

Total Unusual Items

-2.44

-159.41

-47.67

-111.18

Total Unusual Items Excluding Goodwill

-2.44

-159.41

-47.67

-111.18

Preferred Stock Dividends

20.39

27.44

43.74

Net Income Discontinuous Operations

-20.69

-52.21

-89.71

Special Income Charges

-23.84

-154.05

-112.21

-182.55

Other Special Charges

2.04

30.95

15.88

11.22

Impairment Of Capital Assets

21.56

68.68

90.31

164.67

Restructuring And Mergern Acquisition

0.24

54.42

6.02

6.66

Gain On Sale Of Security

21.41

-5.36

64.54

71.37

Depreciation Amortization Depletion Income Statement

154.03

179.35

216.82

191.19

Depreciation And Amortization In Income Statement

154.03

179.35

216.82

191.19

General And Administrative Expense

69.93

82.78

61.29

65.27

Other Gand A

57.86

65.48

52.36

52.75

Salaries And Wages

12.07

17.30

8.93

12.51

Otherunder Preferred Stock Dividend

0.94

3.89

0.66

1.90

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

Global Net Lease, Inc.this co.

GNL

$2.0B

-8.83

1.20

-13.6%

14.08

LXP Industrial Trust

LXP

$3.0B

26.93

1.57

5.8%

10.60

Medical Properties Trust, Inc.

MPT

$3.0B

0.65

-6.0%

15.11

Urban Edge Properties

$3.0B

31.72

2.30

7.3%

14.67

Uniti Group Inc.

UNIT

$2.9B

2.19

Global Net Lease, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Global Net Lease, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Key concepts to brush up on