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
DateValue
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