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Global Net Lease, Inc.

GNL Real Estate Reit Diversified

Global Net Lease, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $495.3 million, down 13.1% from fiscal 2024. In the quarter to June 2026, revenue fell 9.95%, EPS grew 75.0%, free cash flow grew 54.7% and total debt fell 14.8%, each against the same quarter a year earlier.

7.74 0.03 −0.39%
Market cap
$1.8B
P/E
0.0×
Fwd P/E
−55.2×
Dividend yield
9.82%
F-score
7/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.37%

Capital & Financial Ratios $m

Market Cap 1,840.00
Revenue 459.73
Net Income (13.53)
Free Cash Flow 201.18
Net Debt 1,244.97
Current Ratio 0.16
Debt/Equity 0.94
P/E ratio 0.00
Fwd P/E (55.20) (negative: loss-making)
P/S ratio 3.56
P/B ratio 1.08
Past 5Y EPS Growth —
This Y EPS Growth 91.94% (at or above 15%: strong)
Next Y EPS Growth 71.79% (at or above 15%: strong)
Next Y revenue growth (8.62%) (below 0%: weak)
Next 5Y EPS Growth 52.46% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 6.3×, against a ten-year median of 6.1×; over the ten years it ranged from 4.0× in 2022 to 10.0× in 2016.
P/S against its own 10 years 28.36%
10-year low 10-year high
P/B against its own 10 years 79.87%
10-year low 10-year high
EV/Sales against its own 10 years 52.47%
10-year low 10-year high
EV/FCF against its own 10 years 9.75%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate 0.76
Annual Dividend Yield 9.82%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 0.76
0.19
0.19
0.19
0.19
2025 0.85
0.28
0.19
0.19
0.19
2024 1.18
0.35
0.28
0.28
0.28
2023 1.55
0.40
0.40
0.40
0.35
2022 1.60
0.40
0.40
0.40
0.40
2021 1.60
0.40
0.40
0.40
0.40
2020 1.73
0.53
0.40
0.40
0.40
2019 1.78
0.18
0.18
0.18
0.18
0.53
0.53
2018 2.13
0.18
0.18
0.18
0.18
0.18
0.18
0.18
0.18
0.18
0.18
0.18
0.18
2017 2.31
0.18
0.18
0.18
0.18
0.18
0.18
0.18
0.18
0.18
0.18
0.18
0.18
0.18
2016 2.13
0.18
0.18
0.18
0.18
0.18
0.18
0.18
0.18
0.18
0.18
0.18
0.18
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 162 224 194 168
Receivables — — — —
Inventory — — — —
Other — — — —
162 224 194 168
2023 2024 2025 Q'26
Payables 99 53 44 43
ST’ Debt — — — —
Other — — — —
2,617 2,728 2,237 1,030

Compound Annual Growth %

10y 5y 3y
Sales 9.20% 8.45% 9.34%
Cash Flow 8.11% 4.73% 7.01%
Earnings 0.00% 0.00% 0.00%
Book Value 3.15% 1.37% 4.59%

Revenue $m

Mar Jun Sep Dec Year
’26 109 112 — — —
’25 132 125 121 117 495
’24 148 145 139 138 570
’23 94 96 118 137 446
’22 97 95 93 94 379
’21 89 100 96 107 391
’20 79 81 83 87 330
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 40 67 — — —
’25 59 52 56 56 223
’24 92 70 62 75 299
’23 63 21 4 56 144
’22 62 44 54 22 182
’21 53 5 100 34 192
’20 42 48 47 41 177
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 38 65 — — —
’25 49 42 49 48 189
’24 84 60 48 62 254
’23 (26) 18 (15) (15) (38)
’22 60 7 39 11 118
’21 50 (262) 61 (142) (293)
’20 (73) 15 19 (256) (294)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 (0.08) (0.04) — — —
’25 (0.87) (0.16) (0.32) 0.16 (1.21)
’24 (0.15) (0.20) (0.33) (0.08) (0.76)
’23 (0.06) (0.30) (1.11) (0.26) (1.71)
’22 0.05 (0.06) 0.09 (0.17) (0.09)
’21 (0.01) (0.14) 0.02 (0.08) (0.20)
’20 0.05 0.01 (0.01) (0.15) (0.09)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 17.31 20.09 15.55 17.23 8.77 13.78 9.82 7.56 6.52 6.51

Analyst estimates 2026–2028

Powerpack
High 26.93 25.25 22.53 20.62 21.71 20.12 16.01 15.28 10.15 8.67
People
People Employees — 1 1 1 1 1 1 77 73 56
Revenue/emp, $m 0.00 259.30 282.21 306.21 330.10 391.23 378.86 5.79 7.81 8.84
Income, $m
Income, $m Revenue 214 259 282 306 330 391 379 446 570 495
Gross margin, % 91.11 88.87 89.82 90.75 90.19 91.63 91.32 90.03 88.71 89.66
EBT 52 27 13 51 16 24 23 (177) (75) (114)
EBT margin, % 24.28 10.31 4.72 16.59 4.77 6.01 6.09 (39.65) (13.15) (23.01)
Net income 48 24 11 46 11 11 12 (212) (132) (225)
Depreciation 101 120 128 135 147 175 167 256 437 289
Per share, $
Per share, $ Revenue 3.78 3.88 4.07 3.60 3.69 3.98 3.65 3.13 2.47 2.22
Earnings 0.81 0.30 0.01 0.40 (0.09) (0.20) (0.09) (1.71) (0.76) (1.21)
Cash flow 2.02 1.96 2.08 1.72 1.98 1.96 1.75 1.01 1.30 1.00
Capex 0.00 (1.52) (6.93) (6.82) (5.26) (4.94) (0.62) (1.27) (0.20) (0.15)
Free cash flow 2.01 0.43 (4.85) (5.10) (3.28) (2.98) 1.14 (0.26) 1.10 0.85
Book value 23.91 21.15 20.58 20.11 17.37 16.55 14.02 18.51 9.49 7.45
Shares, m 57 67 69 85 89 98 104 143 230 223
Valuation, ×
Valuation, × P/E 29.52 66.35 881.00 50.70 0.00 0.00 0.00 0.00 0.00 0.00
P/S 6.33 5.31 4.33 5.63 4.65 3.84 3.48 3.18 2.95 3.88
P/B 1.00 0.97 0.86 1.01 0.99 0.92 0.91 0.54 0.77 1.15
EV/Sales 8.85 6.93 6.24 6.69 5.51 4.89 4.98 8.71 5.00 6.01
EV/FCF 16.60 61.83 (5.24) (4.72) (6.19) (6.53) 15.98 (103.14) 11.22 15.72
Cash, $m
Cash, $m Operating cash flow 114 131 145 146 177 192 182 144 299 223
Capex 0 (102) (481) (580) (471) (485) (64) (181) (46) (33)
Free cash flow 114 29 (337) (434) (294) (293) 118 (38) 254 189
Balance, $m
Balance, $m Working capital (688) (900) (1,058) (1,021) (1,757) (1,855) (1,645) (2,454) (2,503) (2,043)
Total debt 617 529 643 597 411 504 670 2,630 1,390 324
Net debt 539 421 539 323 286 411 566 2,468 1,166 130
Shareholders’ equity 1,356 1,414 1,429 1,710 1,554 1,627 1,454 2,639 2,187 1,663
Returns, %
Returns, % ROA 1.74 0.70 0.03 0.99 (0.20) (0.21) (0.21) (3.97) (2.33) (4.76)
ROIC 1.99 2.93 2.16 3.53 3.37 3.43 3.11 (0.19) 3.51 3.87
ROE 3.66 1.50 0.08 2.20 (0.48) (0.55) (0.54) (11.70) (7.27) (13.98)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Global Net Lease, Inc. vs peers in Reit Diversified (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
BNL Broadstone Net Lease, Inc. $3.5B 24.0× 25.2× +8.25% (above 0%: growing) +90.91% (above 0%: growing) +126.12% (above 0%: growing) 95.24% 42.47% Compare
GNL Global Net Lease, Inc. $1.8B — (loss-making) — (loss-making) −9.95% (below 0%: shrinking) n/m +54.71% (above 0%: growing) 88.09% 48.66%
AAT American Assets Trust, Inc. $1.3B 74.2× 51.4× +1.44% (above 0%: growing) 0.00% −13.90% (below 0%: shrinking) 70.98% 24.02% Compare
SAFE Safehold Inc. $856.9M 7.4× 9.3× +22.17% (above 0%: growing) +7.69% (above 0%: growing) −181.89% (below 0%: shrinking) 87.18% 73.05% Compare
JBGS JBG SMITH Properties $822.3M — (loss-making) — (loss-making) +2.29% (above 0%: growing) n/m +71.92% (above 0%: growing) 62.69% 2.98% Compare
ESRT Empire State Realty Trust, Inc. $792.9M 154× 110× +2.95% (above 0%: growing) n/m +42.29% (above 0%: growing) 74.97% (70.45%) Compare
CTO CTO Realty Growth, Inc. $770.7M 15.1× 45.6× +16.45% (above 0%: growing) n/m +162.11% (above 0%: growing) 74.62% 30.23% Compare
GOOD Gladstone Commercial Corporation $620.0M 48.7× 56.2× +11.27% (above 0%: growing) +266.67% (above 0%: growing) +112.75% (above 0%: growing) 79.76% 40.36% Compare
AHRT AH Realty Trust Inc $580.3M — (loss-making) — (loss-making) +3.60% (above 0%: growing) n/m +105.02% (above 0%: growing) 67.20% 18.62% Compare
Median of peers $807.6M 36.4× 48.5× +5.93% +49.30% +88.47% 74.80% 27.13%

All 16 Reit Diversified stocks →

Global Net Lease, Inc. (GNL) key facts

  • Concern: Global Net Lease, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $495.3 million, down 13.1% from fiscal 2024.
  • Global Net Lease, Inc. (GNL) is a Reit Diversified company in the Real Estate sector, listed on the New York Stock Exchange.
  • As of October 9, 2026, GNL traded at $7.74, a market capitalization of $1.8 billion.
  • Global Net Lease, Inc. pays an annual dividend of $0.76 per share, a yield of 9.82%.
  • Return on equity was −14.0% and debt-to-equity 0.94.
  • Its Piotroski F-score is 7 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Global Net Lease, Inc. (GNL) Latest News

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stockrow.com/GNL · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com