GNL
Global Net Lease, Inc.
Real Estate • CIK: 0001526113
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Market Cap
$1.92B
P/E (TTM)
-7.2x
Rev Growth (TTM)
-13.1%
Net Margin (TTM)
-54.4%
FCF Yield (TTM)
11.6%
FCF Margin (TTM)
45.0%
Cash Flow Health
Free Cash Flow8/8 positive
TTM$223M
Q4 '25
$56M-1%
Q3 '25
$56M+8%
FCF Margin
TTM45.0%
Q4 '2547.5%+3%
Sector: 13.8%Above Avg
OCF Margin45.0%
OCF/NI-0.83x
CapEx Coverage–
FCF Yield11.6%
FCF Growth (2Y)+7%
Cash Conversion Cycle
0 days
DSO: 0+DIO: 0−DPO: 0
Capital Allocation & Returns
Shareholder Friendly
Total Shareholder YieldTTM
TTM16.1%
Div Yield9.8%
+Buyback (TTM)6.3%
Strong capital returns to shareholders
Dividend & Payout Metrics
Dividend Yield (TTM)9.8%
FCF Payout Ratio84.7%
Free Cash Flow (TTM)$222.8M
Stock Repurchases (TTM)$120.3M
Capital Return / FCF140.1%
Est. Dividends Paid (TTM)$188.7M
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
–
P25MedianP75
(med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
–
Asset Turnover
0.09x
8Q: 0.08x
Leverage (1+D/E)
1.00x
D/E: 0.00x
Asset & CapEx Efficiency
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $495.3M | $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 |
Operating Income | $111.0M | $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 |
Net Income | $-269.2M | $37.2M↑152.4% | $-71.1M↓102.5% | $-35.1M↑82.5% | $-200.3M↓1047.4% | $-17.5M↑77.2% | $-76.6M↓64.3% | $-46.6M↓34.3% | $-34.7M |
Operating Cash Flow | $222.8M | $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 |
Free Cash Flow | $222.8M | $55.6M↓0.8% | $56.0M↑7.7% | $52.0M↓12.1% | $59.2M↓20.9% | $74.8M↑20.4% | $62.1M↑61.1% | $38.6M↓47.9% | $74.0M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
-7.2x
Volatile
8Q: -31.1x+6880%
Valuation Lenses
Earnings
-7.2x
vs – sector
Cash Flow
7.7x
EV/FCF vs –
Growth-Adj
–PEG
N/A
Quality-Adj
–P/E per %ROIC
ROIC: –
Shareholder Returns
Dividend
9.8%
Buyback
6.3%
Total Yield
16.1%
Market Cap$1.92B
EV$1.72B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
-42/100
Below Average
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 10%
-14.6%
8Q:–
Return on Invested Capital (ROIC)
–
8Q:–
vs Sector:0.1%
Earnings Quality
Cash Conversion
-0.83x
OCF / Net Income
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin–
Capital Efficiency
Invested Capital Turnover–
Working Capital
Cash Conversion Cycle0 days
Growth Quality & Momentum
Low Quality
Growth Quality Score
40/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
-13.1%
OpInc Growth YoY
96.8%
EPS Growth YoY
-58.7%
FCF 3Y CAGR
7.0%
Growth Quality Analysis
✓Efficient Growth: Free cash flow growing faster than revenue
Margin Quality & Sustainability
Moderate
Profitability Cascade
Gross
—
Operating
—
Net
-54.4%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+99.3 pts
FCF: 45.0% | Net: -54.4%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $194.06M
Interest Coverage
–
+Net cash position: $194.06M
Leverage Metrics
Debt-to-Equity
0.00x
Balance sheet risk & solvency analysis