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Global Net Lease GNL Office — Property operating expense

Other segment segments

Industrial & Distribution
$5.64M+33.3%
Retail
$3.83M+27.5%

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Other financials

Income statement

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Revenue$112.5M-10.0%
Operating income$54.7M+29.4%
Net income$3.5M+114%
EPS (diluted)-$0.04+75.0%

Balance sheet

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Cash & equivalents$153.6M+6.1%
Total debt$40.0M-5.2%
Total equity$1.5B-17.6%
Total assets$4.1B-18.4%

Cash flow

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Operating cash flow$67.1M+29.0%
CapEx$1.8M-81.5%
Free cash flow$65.3M+54.7%

Valuation

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Market cap$1.91B+25.1%
Enterprise value$1.8B+26.2%
P/S4.2×+1.3×

Profitability

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Gross margin89.4%
Operating margin39.6%+24.0pp
Net margin-54.3%+193pp
FCF margin43.8%+6.0pp

Returns & leverage

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Return on equity-14.1%-263pp
Debt / equity0.0×

Where this comes from

Reported directly by Global Net Lease in its filing.

Tagged under the XBRL concept us-gaap:OperatingExpenses.

The source filing: Global Net Lease’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 4:23 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-053396
(In thousands)Three Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Retail:
Revenue from tenants$29,995$35,357$59,541$72,314
Property operating expense3,8283,0027,5036,893
Net Operating Income$26,167$32,355$52,038$65,421
Office:
Revenue from tenants$30,788$34,551$61,344$71,998
Property operating expense3,9284,7817,9229,571
Net Operating Income$26,860$29,770$53,422$62,427

Item 1. Financial Statements.

FAQ

What is Global Net Lease's office — property operating expense?
Global Net Lease (GNL) reported office — property operating expense of $3.93M in Q2 2026.
How has Global Net Lease's office — property operating expense changed year-over-year?
Global Net Lease's office — property operating expense decreased by 17.8% year-over-year, from $4.78M to $3.93M.
What is the long-term trend for Global Net Lease's office — property operating expense?
Over 3 years (2021 to 2025), Global Net Lease's office — property operating expense has grown at a -1.9% compound annual growth rate (CAGR), from $18.46M to $17.45M.
What does office — property operating expense mean?
This metric captures the direct costs associated with maintaining, managing, and operating office real estate assets, such as property taxes, insurance, and maintenance. Monitoring these expenses is critical for assessing the operational efficiency and cost control measures within the office portfolio.

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