Global Net Lease (GNL) FY2023 results: revenue $446 million, up 17.7% on the year
Global Net Lease, Inc. (GNL) reported revenue of $446 million for fiscal 2023, the year ended 31 December 2023, up 17.7% on the year before. Net income was -$239 million, and diluted earnings per share $-1.71. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2024.
Revenue
$446 million
+17.7% on the year
FY2016FY2023
Operating margin
-3.4%
26.5% a year earlier
FY2016FY2023
Net income
-$239 million
FY2016FY2023
Diluted EPS
-$1.71
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
144
182
192
-20.9%
Capital expenditure
47.3
29.9
7.9
+58.0%
Free cash flow
96.4
152
185
-36.5%
Free cash flow margin
21.6%
40.1%
47.2%
Cash from investing
-552
-16.5
-437
Cash from financing
469
-150
218
Depreciation and amortisation
179
154
163
+16.4%
Share-based compensation
17.3
12.1
11.0
+43.3%
Buybacks
0.0
0.7
0.2
Dividends paid
207
167
156
+24.1%
Dividend per share
$1.55
$1.60
$1.73
-3.1%
Diluted shares, weighted
143m
104m
98m
+37.5%
Shares outstanding at period end
231m
104m
104m
+121.7%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
2,638
1,439
1,621
+83.3%
Non-controlling interest
1.4
14.9
5.9
-90.6%
Debt
5,148
2,396
2,427
+114.8%
Other liabilities
312
112
130
+179.0%
Total liabilities and equity
8,099
3,962
4,183
+104.4%
Goodwill
47.0
21.4
22.1
+119.9%
Intangible assets
891
300
370
+197.2%
Cash and equivalents
122
103
89.7
+17.6%
Other assets
7,039
3,537
3,702
+99.0%
Total assets
8,099
3,962
4,183
+104.4%
10-K for the year ended 31 December 2023, filed 27 February 2024: the filing.