Global Net Lease (GNL) Operating Expenses (2011 - 2026)
Global Net Lease (GNL) recorded quarterly Operating Expenses of $86.2 million in Q1 2026, down 19.29% quarter-over-quarter from $106.8 million in Q4 2025, and down 45.64% on a YoY basis from $158.6 million in Q1 2025.
Global Net Lease (GNL) Operating Expenses (2011 - 2026) Analysis & Trends
Global Net Lease's Operating Expenses history runs 16 years deep, the most recent figure standing at $86.2 million for Q1 2026.
- In Q1 2026, Operating Expenses fell 45.64% year-over-year to $86.2 million; the TTM figure through Mar 2026 stood at $406.6 million (down 18.79% YoY), while the FY2025 annual figure was $479.0 million, up 9.17% from the prior year.
- Operating Expenses was $86.2 million for Q1 2026 at Global Net Lease, down from $106.8 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $213.0 million in Q3 2023 to a low of $63.7 million in Q3 2022.
- Historically, Operating Expenses has averaged $102.5 million across 5 years, with a median of $91.4 million in 2023.
- The sharpest annual moves came in 2023 and 2026: Operating Expenses soared 234.26% in 2023, then slumped 45.64% in 2026.
- A 5-year view of Operating Expenses shows it stood at $70.2 million in 2022, then gained by 29.69% to $91.0 million in 2023, then advanced by 13.04% to $102.9 million in 2024, then advanced by 3.84% to $106.8 million in 2025, then fell by 19.29% to $86.2 million in 2026.
- The last three Operating Expenses figures came in at $86.2 million (Q1 2026), $106.8 million (Q4 2025), and $129.4 million (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Vici Properties | 29.90 Bn | 29.42 Bn | 1.01 Bn | 16.94 Mn |
| 2 | Broadstone Net Lease | 4.01 Bn | 4.11 Bn | - | 58.06 Mn |
| 3 | American Assets Trust | 1.48 Bn | 1.42 Bn | - | 86.87 Mn |
| 4 | Safehold | 1.14 Bn | 1.15 Bn | 109.54 Mn | 85.31 Mn |
| 5 | Empire State Realty Trust | 973.69 Mn | 1.70 Bn | - | 47.74 Mn |
| 6 | JBG SMITH Properties | 887.28 Mn | 1.38 Bn | - | 135.70 Mn |
| 7 | CTO Realty Growth | 676.07 Mn | 676.07 Mn | 31.01 Mn | 5.08 Mn |
| 8 | Gladstone Commercial | 618.88 Mn | 788.92 Mn | - | 25.24 Mn |
| 9 | AH Realty Trust | 547.30 Mn | 729.64 Mn | - | 40.55 Mn |
| 10 | Global Net Lease | - | - | - | 86.23 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 86.23 Mn |
| Dec 31, 2025 | 106.84 Mn |
| Sep 30, 2025 | 129.40 Mn |
| Jun 30, 2025 | 84.15 Mn |
| Mar 31, 2025 | 158.61 Mn |
| Dec 31, 2024 | 102.89 Mn |
| Sep 30, 2024 | 121.54 Mn |
| Jun 30, 2024 | 117.65 Mn |
| Mar 31, 2024 | 96.68 Mn |
| Dec 31, 2023 | 91.02 Mn |
| Sep 30, 2023 | 213.04 Mn |
| Jun 30, 2023 | 91.36 Mn |
| Mar 31, 2023 | 63.96 Mn |
| Dec 31, 2022 | 70.19 Mn |
| Sep 30, 2022 | 63.74 Mn |
| Jun 30, 2022 | 80.44 Mn |
| Mar 31, 2022 | 64.28 Mn |
| Dec 31, 2021 | 80.42 Mn |
| Sep 30, 2021 | 66.18 Mn |
| Jun 30, 2021 | 70.59 Mn |