Global Net Lease (GNL) Operating Expenses (2011 - 2026)
Global Net Lease's (GNL) quarterly Operating Expenses came in at $86.2 million in Q1 2026, down 45.64% year-on-year from $158.6 million in Q1 2025, and down 19.29% quarter-over-quarter from $106.8 million in Q4 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.
- On a quarterly basis, Operating Expenses fell 45.64% year-over-year to $86.2 million in Q1 2026; TTM through Mar 2026 was $406.6 million, a 18.79% decrease from a year earlier, with the FY2025 full-year figure at $479.0 million, up 9.17% from the prior year.
- Operating Expenses eased to $86.2 million in Q1 2026 per GNL's latest filing, from $106.8 million in the prior quarter.
- Across five years, Operating Expenses topped out at $213.0 million in Q3 2023 and bottomed at $63.7 million in Q3 2022.
- The 5-year median for Operating Expenses is $91.4 million (2023), against an average of $102.5 million.
- Across the five-year window, Operating Expenses surged 234.26% in 2023 and slumped 45.64% in 2026, its largest moves.
- Year by year, Operating Expenses 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.
- Per Business Quant, the three latest GNL Operating Expenses figures stand at $86.2 million (Q1 2026), $106.8 million (Q4 2025), and $129.4 million (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Vici Properties | 28.12 Bn | 27.64 Bn | 1.01 Bn | 15.98 Mn |
| 2 | W. P. Carey | 16.60 Bn | 16.61 Bn | 434.82 Mn | 255.10 Mn |
| 3 | Broadstone Net Lease | 4.29 Bn | 4.40 Bn | - | 58.06 Mn |
| 4 | American Assets Trust | 1.47 Bn | 1.41 Bn | - | 86.87 Mn |
| 5 | Safehold | 1.15 Bn | -2.44 Bn | 109.54 Mn | 85.31 Mn |
| 6 | Empire State Realty Trust | 930.17 Mn | 1.66 Bn | - | 160.87 Mn |
| 7 | Cim | 917.30 Mn | 735.54 Mn | - | 64.12 Mn |
| 8 | JBG SMITH Properties | 855.38 Mn | 1.35 Bn | - | 135.70 Mn |
| 9 | CTO Realty Growth | 725.13 Mn | 725.13 Mn | 31.01 Mn | 30.88 Mn |
| 10 | Global Net Lease | 521.56 Mn | 396.08 Mn | - | 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 |