Global Net Lease (GNL) Financial Statements & Analysis

Global Net Lease (GNL) Income Statement

Global Net Lease reported revenue of $495.29M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 13.1% from $569.79M a year earlier. Global Net Lease posted a net loss of $225.46M, compared with a net loss of $131.57M a year earlier. Gross margin was 89.7% and operating margin 37.9%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $112.47M, down 10.0% from the same quarter a year earlier.

Global Net Lease Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Global Net Lease, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	495.29	569.79	445.76	378.86	391.23	330.10	306.21	282.21	259.30
Cost of Revenue	51.21	64.32	44.42	32.88	32.75	32.37	62.93	28.73	28.86
Gross Profit	444.08	505.47	401.34	345.98	358.48	297.73	243.29	253.48	230.44
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	-
Selling, General & Administrative	65.27	61.29	82.78	69.93	67.31	59.13	19.64	41.32	29.32
Operating Expenses	256.46	278.11	262.13	223.96	230.39	198.49	128.39	160.90	142.37
Operating Income	187.62	227.36	139.21	100.22	110.43	99.24	114.90	68.02	86.05
Other Income/Expense
Interest Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest Expense	194.72	255.69	158.35	97.51	94.35	71.80	64.20	57.97	48.45
Other Income/Expense	-106.85	-46.59	-157.60	-77.16	-86.91	-83.50	-64.09	-54.69	-60.41
Income
Income Before Tax	-113.95	-74.92	-176.74	23.06	23.52	15.75	50.81	13.33	26.73
Income Tax Expense	21.80	4.45	14.48	-11.03	-12.15	4.97	4.33	2.43	3.14
Net Income	-225.46	-131.57	-211.91	-8.36	-8.70	10.78	46.48	10.90	23.57
Net Income - Continuous Operations	-135.75	-79.36	-191.22	12.02	11.37	10.78	46.48	10.90	23.57
Net Income - Discontinued Operations	-89.71	-52.21	-20.69	-	-	-	-	-	-
EBITDA	311.47	549.85	215.34	276.26	290.33	230.33	224.46	196.48	201.14
EBIT	80.77	180.77	-18.40	121.78	127.95	99.40	-	-	-
Depreciation & Amortization	191.19	216.82	179.35	154.49	162.37	142.78	126.81	202.94	173.95
Earnings Per Share
Basic EPS	-1.00	-1.00	-2.00	-	-	-	1.00	-	-
Diluted EPS	-1.00	-1.00	-2.00	-	-	-	1.00	-	-
Basic Shares Outstanding	223.26	230.44	142.58	103.69	98.28	89.47	85.03	69.41	66.88
Diluted Shares Outstanding	223.26	230.44	142.58	103.69	98.28	89.47	86.35	69.66	66.88

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Global Net Lease Financial Statements

What was Global Net Lease's revenue in fiscal 2025?

Global Net Lease reported revenue of $495.29M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 13.1% from $569.79M a year earlier.

Is Global Net Lease profitable?

No. Global Net Lease reported a net loss of $225.46M in fiscal 2025. In fiscal 2024 it lost $131.57M.

What is Global Net Lease's operating margin?

Global Net Lease's operating income was $187.62M on revenue of $495.29M in fiscal 2025, an operating margin of 37.9%, compared with 39.9% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition