GNLGlobal Net Lease, Inc.
Real Estate Investment Trusts
- Revenue
- $495M
- 13% YoY
- Operating margin
- 22.4%
- 32% YoY
- EBITDA
- $302M
- 25% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- -0.5×
- −$154M net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear473% of net incomeCash flow under 80% of net income
- Dilutive SBCClear3% of revenueOver 10% of revenue
- Payouts exceed cash flowFired140% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear1% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $391M | $379M | $446M | $570M | $495M | 13% |
| Operating income | $112M | $101M | −$15M | $188M | $111M | 41% |
| Operating cash flow | $192M | $182M | $144M | $299M | $223M | 26% |
| Stock-based comp | $11M | $12M | $17M | $9M | $13M | 40% |
| Buybacks | $156K | $686K | $0 | $0 | $120M | |
| Dividends | $156M | $167M | $207M | $272M | $192M | 30% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 96 | 149 |
| FY2024 | — | — | 69 | 117 |
| FY2023 | — | — | 80 | 111 |
| FY2022 | — | — | 87 | 100 |
| FY2021 | — | — | 93 | 132 |