Global Net Lease (GNL) FY2020 results: revenue $330 million, up 7.8% on the year
Global Net Lease, Inc. (GNL) reported revenue of $330 million for fiscal 2020, the year ended 31 December 2020, up 7.8% on the year before. Net income was -$8 million, and diluted earnings per share $-0.09. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$330 million
+7.8% on the year
FY2013FY2020
Operating margin
30.1%
37.5% a year earlier
FY2013FY2020
Net income
-$8 million
FY2013FY2020
Diluted EPS
-$0.09
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
330
306
282
+7.8%
Cost of revenue
n/a
n/a
57.0
Gross profit
n/a
n/a
225
Gross margin
n/a
n/a
79.8%
Operating income
99.2
115
68.0
-13.6%
Operating margin
30.1%
37.5%
24.1%
Interest expense
71.8
64.2
58.0
+11.8%
Pre-tax income
15.7
50.8
13.3
-69.0%
Income tax
5.0
4.3
2.4
+14.7%
Effective tax rate
31.6%
8.5%
18.3%
Net income
-7.8
34.5
1.1
Net margin
-2.4%
11.3%
0.4%
Diluted EPS
-$0.09
$0.39
$0.01
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
177
146
145
+21.1%
Capital expenditure
6.4
17.3
1.5
-63.2%
Free cash flow
170
129
143
+32.5%
Free cash flow margin
51.6%
42.0%
50.7%
Cash from investing
-471
-294
-458
Cash from financing
141
300
312
-53.1%
Depreciation and amortisation
139
126
120
+10.0%
Share-based compensation
10.1
9.5
2.6
+5.6%
Buybacks
0.0
0.0
n/a
Dividends paid
155
151
147
+2.8%
Dividend per share
$1.73
$2.13
$2.13
-18.8%
Diluted shares, weighted
89m
86m
70m
+3.6%
Shares outstanding at period end
90m
89m
76m
+0.2%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,533
1,698
1,425
-9.7%
Non-controlling interest
21.8
12.3
3.3
+76.5%
Debt
2,265
1,869
1,772
+21.2%
Other liabilities
147
123
108
+20.3%
Total liabilities and equity
3,967
3,702
3,309
+7.2%
Intangible assets
393
401
458
-2.2%
Cash and equivalents
124
270
100
-54.0%
Other assets
3,450
3,030
2,751
+13.9%
Total assets
3,967
3,702
3,309
+7.2%
10-K for the year ended 31 December 2020, filed 26 February 2021: the filing.