Global Net Lease (GNL) FY2017 results: revenue $259 million, up 21.1% on the year
Global Net Lease, Inc. (GNL) reported revenue of $259 million for fiscal 2017, the year ended 31 December 2017, up 21.1% on the year before. Net income was $21 million, down 56.0%, and diluted earnings per share $0.30. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2018.
Revenue
$259 million
+21.1% on the year
FY2012FY2017
Operating margin
33.6%
34.4% a year earlier
FY2012FY2017
Net income
$21 million
-56.0% on the year
FY2012FY2017
Diluted EPS
$0.30
+11.1% on the year
FY2012FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
259
214
205
+21.1%
Cost of revenue
53.3
38.8
n/a
+37.4%
Gross profit
206
175
n/a
+17.4%
Gross margin
79.4%
81.9%
n/a
Operating income
87.1
73.6
33.2
+18.4%
Operating margin
33.6%
34.4%
16.2%
Interest expense
48.5
39.1
34.9
+23.8%
Pre-tax income
26.7
52.0
3.9
-48.6%
Income tax
3.1
4.4
5.9
-29.0%
Effective tax rate
11.7%
8.5%
152.0%
Net income
20.7
47.1
-2.1
-56.0%
Net margin
8.0%
22.0%
-1.0%
Diluted EPS
$0.30
$0.27
-$0.01
+11.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
131
114
102
+14.5%
Capital expenditure
3.1
0.2
10.5
+1,459.0%
Free cash flow
128
114
91.7
+11.9%
Free cash flow margin
49.3%
53.3%
44.6%
Cash from investing
-79.0
134
-222
Cash from financing
-30.7
-237
119
Depreciation and amortisation
113
94.5
90.1
+19.7%
Share-based compensation
-3.8
3.7
2.3
Buybacks
0.0
0.0
2.3
Dividends paid
143
120
97.7
+18.6%
Dividend per share
$2.13
n/a
n/a
Diluted shares, weighted
67m
57m
n/a
+17.9%
Shares outstanding at period end
67m
199m
169m
-66.1%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,413
1,348
1,205
+4.9%
Non-controlling interest
1.1
8.2
14.7
-86.9%
Debt
1,514
1,419
1,242
+6.6%
Other liabilities
111
116
78.9
-4.7%
Total liabilities and equity
3,039
2,891
2,541
+5.1%
Intangible assets
464
482
453
-3.8%
Cash and equivalents
102
77.3
73.3
+32.5%
Other assets
2,472
2,332
2,014
+6.0%
Total assets
3,039
2,891
2,541
+5.1%
10-K for the year ended 31 December 2017, filed 28 February 2018: the filing.