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Global Net Lease Balance Sheet 2025-2011 | GNL
Brief balance sheet overview of Global Net Lease
The comparison uses five available annual reports from the 2021–2025 interval.
Assets shifted from $4.2 billion to $4.3 billion, leaving five-period growth close to stagnation.
Liabilities followed the scale of the balance sheet: +5% versus +3.9% for assets. Leverage did not change materially.
The equity ratio is 38.3% versus 38.9% five periods ago. Capitalization remains workable.
Cash represents 4.1% of assets versus 2.1% initially, showing how the immediate liquidity reserve changed.
Retained earnings are negative at -$2.6 billion. This reduces the formal capital cushion, although large shareholder returns may have contributed.
What the balance sheet shows
Global Net Lease has a workable but not unconditionally strong balance sheet. Resilience depends on sustained earnings and liability control.
Annual Balance Sheet Global Net Lease
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
- | - | - | - | - | 3.5 B | 1.62 B | 1.67 B | 1.41 B | 1.35 B | 1.18 B | 877 M | 67.1 M | 900 K | - |
Long Term Debt |
- | - | - | - | - | 2.27 B | 1.87 B | 1.77 B | 1.51 B | 1.42 B | 1.25 B | 942 M | 78.6 M | 1.2 M | - |
Total Non Current Liabilities |
- | - | - | - | - | - | 1.96 B | 1.84 B | 1.6 B | 1.5 B | 1.3 B | 982 M | 88.8 M | 1.2 M | - |
Total Liabilities |
2.68 B | 4.77 B | 5.46 B | 2.51 B | 2.56 B | 2.41 B | 1.99 B | 1.88 B | 1.62 B | 1.54 B | 1.33 B | 1.01 B | 92.2 M | 3.7 M | - |
Retained Earnings |
-2.61 B | -2.15 B | -1.7 B | -1.25 B | -1.07 B | -897 M | -733 M | -615 M | -468 M | -346 M | -273 M | -155 M | -11.3 M | -800 K | - |
Total Assets |
4.35 B | 6.96 B | 8.1 B | 3.96 B | 4.18 B | 3.97 B | 3.7 B | 3.31 B | 3.04 B | 2.89 B | 2.55 B | 2.43 B | 215 M | 2.9 M | - |
Cash and Cash Equivalents |
180 M | 160 M | 122 M | 103 M | 89.7 M | 124 M | 270 M | 100 M | 102 M | 69.8 M | 69.9 M | 64.7 M | 11.5 M | 262 K | - |
Book Value |
1.66 B | 2.19 B | 2.64 B | 1.45 B | 1.63 B | 1.55 B | 1.71 B | 1.43 B | 1.41 B | 1.36 B | 1.22 B | 1.42 B | 123 M | -800 K | - |
Total Shareholders Equity |
1.66 B | 2.19 B | 2.64 B | 1.44 B | 1.63 B | 1.55 B | 1.7 B | 1.43 B | 1.41 B | 1.35 B | 1.21 B | 1.42 B | 123 M | -796 K | 184 K |
All numbers in USD currency
Quarterly Balance Sheet Global Net Lease
| 2026-Q2 | 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 273 M | 279 M | 284 M | 291 M | 287 M | 300 M | 300 M | 300 M | 300 M | 398 M | 398 M | 398 M | 398 M | 279 M | 279 M | 279 M | 279 M | - | - | - | - | 55.4 M | 55.4 M | 55.4 M | 55.4 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
2.56 B | 2.59 B | 3.06 B | 3.15 B | 3.87 B | 4.77 B | 5.06 B | 5.19 B | 5.44 B | 5.46 B | 5.39 B | 2.65 B | 2.63 B | 2.51 B | 2.48 B | - | 2.56 B | 2.56 B | 2.53 B | 2.59 B | 2.4 B | 2.41 B | 2.41 B | 2.41 B | 2.41 B | 1.99 B | 1.99 B | 1.99 B | 1.99 B | 1.88 B | 1.88 B | 1.88 B | 1.88 B | 1.62 B | 1.62 B | 1.62 B | 1.62 B | 1.54 B | 1.54 B | 1.54 B | 1.54 B | 1.32 B | 1.32 B | 1.32 B | 1.32 B | 1.01 B | 1.01 B | 1.01 B | 1.01 B | 92.2 M | 92.2 M | 92.2 M | 92.2 M | 3.73 M | 3.73 M | 3.73 M | 3.73 M | 375 K | - | - | - |
Retained Earnings |
-2.72 B | -2.67 B | -2.61 B | -2.49 B | -2.41 B | -2.15 B | -2.07 B | -1.93 B | -1.82 B | -1.7 B | -1.56 B | -1.37 B | -1.3 B | -1.25 B | -1.19 B | - | -1.11 B | -1.07 B | -1.02 B | -985 M | -934 M | -897 M | -897 M | -897 M | -897 M | -733 M | -733 M | -733 M | -733 M | -615 M | -615 M | -615 M | -615 M | -468 M | -468 M | -468 M | -468 M | -346 M | -346 M | -346 M | -346 M | -273 M | -273 M | -273 M | -273 M | -155 M | -155 M | -155 M | -155 M | -11.3 M | -11.3 M | -11.3 M | -11.3 M | -445 K | -445 K | -445 K | -445 K | -16 K | - | - | - |
Total Assets |
4.07 B | 4.15 B | 4.77 B | 4.98 B | 5.79 B | 6.96 B | 7.34 B | 7.61 B | 7.97 B | 8.1 B | 8.18 B | 4 B | 4.04 B | 3.96 B | 3.97 B | - | 4.15 B | 4.18 B | 4.2 B | 4.24 B | 4.04 B | 3.97 B | 3.97 B | 3.97 B | 3.97 B | 3.7 B | 3.7 B | 3.7 B | 3.7 B | 3.31 B | 3.31 B | 3.31 B | 3.31 B | 3.04 B | 3.04 B | 3.04 B | 3.04 B | 2.89 B | 2.89 B | 2.89 B | 2.89 B | 2.54 B | 2.54 B | 2.54 B | 2.54 B | 2.43 B | 2.43 B | 2.43 B | 2.43 B | 215 M | 215 M | 215 M | 215 M | 2.93 M | 2.93 M | 2.93 M | 2.93 M | 559 K | 559 K | 559 K | 559 K |
Cash and Cash Equivalents |
154 M | 125 M | 165 M | 145 M | 147 M | 160 M | 127 M | 122 M | 132 M | 122 M | 133 M | 101 M | 119 M | 103 M | 128 M | 111 M | 124 M | 89.7 M | 176 M | 175 M | 263 M | 124 M | 124 M | 124 M | 124 M | 270 M | 270 M | 270 M | 270 M | 100 M | 100 M | 100 M | 100 M | 102 M | 102 M | 102 M | 72.4 M | 69.8 M | 69.8 M | 69.8 M | 69.8 M | 69.9 M | 69.9 M | 69.9 M | 69.9 M | 64.7 M | 64.7 M | 64.7 M | 64.7 M | 11.5 M | 11.5 M | 11.5 M | 11.5 M | 262 K | 262 K | 262 K | 262 K | - | - | - | - |
Book Value |
1.51 B | 1.56 B | 1.7 B | 1.83 B | 1.92 B | 2.19 B | 2.28 B | 2.42 B | 2.53 B | 2.64 B | 2.79 B | 1.36 B | 1.41 B | 1.45 B | 1.48 B | - | 1.6 B | 1.63 B | 1.67 B | 1.65 B | 1.65 B | 1.55 B | 1.55 B | 1.55 B | 1.55 B | 1.71 B | 1.71 B | 1.71 B | 1.71 B | 1.43 B | 1.43 B | 1.43 B | 1.43 B | 1.41 B | 1.41 B | 1.41 B | 1.41 B | 1.36 B | 1.36 B | 1.36 B | 1.36 B | 1.22 B | 1.22 B | 1.22 B | 1.22 B | 1.42 B | 1.42 B | 1.42 B | 1.42 B | 123 M | 123 M | 123 M | 123 M | -796 K | -796 K | -796 K | -796 K | 184 K | 559 K | 559 K | 559 K |
Total Shareholders Equity |
1.51 B | 1.56 B | 1.7 B | 1.83 B | 1.92 B | 2.19 B | 2.28 B | 2.42 B | 2.53 B | 2.64 B | 2.79 B | 1.36 B | 1.41 B | 1.44 B | 1.48 B | 1.53 B | 1.6 B | 1.62 B | 1.67 B | 1.65 B | 1.62 B | 1.53 B | 1.53 B | 1.53 B | 1.53 B | 1.7 B | 1.7 B | 1.7 B | 1.7 B | 1.43 B | 1.43 B | 1.43 B | 1.43 B | 1.41 B | 1.41 B | 1.41 B | 1.41 B | 1.35 B | 1.35 B | 1.35 B | 1.35 B | 1.21 B | 1.21 B | 1.21 B | 1.21 B | 1.42 B | 1.42 B | 1.42 B | 1.42 B | 123 M | 123 M | 123 M | 123 M | -796 K | -796 K | -796 K | -796 K | 184 K | 184 K | 184 K | 184 K |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Global Net Lease, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
Balance sheet of other industry stocks – Reit office
| Issuer | Price | % 24h | Market Cap | Country | |
|---|---|---|---|---|---|
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Mack-Cali Realty Corporation
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Equity Commonwealth
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|
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Easterly Government Properties
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|
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City Office REIT
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|
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Alexandria Real Estate Equities
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|
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CoreSite Realty Corporation
COR
|
$ 330.95 | 0.26 % | $ 14 B | USA |
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Boston Properties
BXP
|
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Cousins Properties Incorporated
CUZ
|
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Douglas Emmett
DEI
|
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 |
Franklin Street Properties Corp.
FSP
|
$ 0.4 | 0.92 % | $ 41.5 M | USA |
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Highwoods Properties
HIW
|
$ 31.19 | 0.56 % | $ 3.38 B | USA |
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Hudson Pacific Properties
HPP
|
$ 12.61 | 0.16 % | $ 563 M | USA |
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JBG SMITH Properties
JBGS
|
$ 11.7 | 0.77 % | $ 788 M | USA |
 |
Kilroy Realty Corporation
KRC
|
$ 37.14 | 0.46 % | $ 4.39 B | USA |
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Paramount Group
PGRE
|
- | - | $ 1.43 B | USA |
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SL Green Realty Corp.
SLG
|
$ 55.56 | 1.22 % | $ 3.91 B | USA |