Global Net Lease (GNL) FY2019 results: revenue $306 million, up 8.5% on the year
Global Net Lease, Inc. (GNL) reported revenue of $306 million for fiscal 2019, the year ended 31 December 2019, up 8.5% on the year before. Net income was $35 million, up 3091.8%, and diluted earnings per share $0.39. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2020.
Revenue
$306 million
+8.5% on the year
FY2012FY2019
Operating margin
37.5%
24.1% a year earlier
FY2012FY2019
Net income
$35 million
+3,091.8% on the year
FY2012FY2019
Diluted EPS
$0.39
+3,800.0% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
306
282
259
+8.5%
Cost of revenue
n/a
57.0
53.3
Gross profit
n/a
225
206
Gross margin
n/a
79.8%
79.4%
Operating income
115
68.0
87.1
+68.9%
Operating margin
37.5%
24.1%
33.6%
Interest expense
64.2
58.0
48.5
+10.7%
Pre-tax income
50.8
13.3
26.7
+281.1%
Income tax
4.3
2.4
3.1
+78.0%
Effective tax rate
8.5%
18.3%
11.7%
Net income
34.5
1.1
20.7
+3,091.8%
Net margin
11.3%
0.4%
8.0%
Diluted EPS
$0.39
$0.01
$0.30
+3,800.0%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
146
145
131
+1.0%
Capital expenditure
17.3
1.5
3.1
+1,093.0%
Free cash flow
129
143
128
-10.1%
Free cash flow margin
42.0%
50.7%
49.3%
Cash from investing
-294
-458
-79.0
Cash from financing
300
312
-30.7
-3.9%
Depreciation and amortisation
126
120
113
+5.4%
Share-based compensation
9.5
2.6
-3.8
+259.8%
Buybacks
0.0
n/a
0.0
Dividends paid
151
147
143
+2.3%
Dividend per share
$2.13
$2.13
$2.13
0.0%
Diluted shares, weighted
86m
70m
67m
+24.0%
Shares outstanding at period end
89m
76m
67m
+17.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,698
1,425
1,413
+19.1%
Non-controlling interest
12.3
3.3
1.1
+278.4%
Debt
1,869
1,772
1,514
+5.5%
Other liabilities
123
108
111
+13.1%
Total liabilities and equity
3,702
3,309
3,039
+11.8%
Intangible assets
401
458
464
-12.3%
Cash and equivalents
270
100
102
+169.4%
Other assets
3,030
2,751
2,472
+10.1%
Total assets
3,702
3,309
3,039
+11.8%
10-K for the year ended 31 December 2019, filed 28 February 2020: the filing.