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Global Net Lease cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$46.0M in Q3 2026 · $198M over twelve months

Operating cash flow$48.3M
Capital spending−$2.3M
Free cash flow+$46.0M

Analysis

In Q3 2026, Global Net Lease generated $48.3M of operating cash flow and spent $2.3M on capital projects, leaving free cash flow of $46.0M. That is $3.4M less than in Q3 2025 ($49.4M).

Over the twelve months to Sep 30, 2026, operating cash flow was $211M; the largest uses were acquisitions ($302M), dividends ($165M), net borrowing (+) / repaid (−) ($157M); besides operations, cash came from asset & business sales ($552M), other investing ($38.4M); the cash balance fell by $37.7M.

Operating cash flow was $48.3M against net income of −$56.9M. The largest differences: depreciation & amortization +$43.6M, stock-based pay +$3.8M, prepaid and other assets −$3.1M.

Free cash flow

Global Net Lease: free cash flow by quarterGlobal Net Lease: free cash flow by quarter$62.0MQ4 2024$49.4MQ1 2025$42.2MQ2 2025$49.4MQ3 2025$48.4MQ4 2025$38.1MQ1 2026$65.3MQ2 2026$46.0MQ3 2026
Operating cash flow less capital spending.
Global Net Lease: operating cash flow against capital spendingGlobal Net Lease: operating cash flow against capital spendingOperating cash flowCapital spending$74.8M$12.8MQ4 2024$59.2M$9.8MQ1 2025$52.0M$9.8MQ2 2025$56.0M$6.6MQ3 2025$55.6M$7.2MQ4 2025$39.7M$1.6MQ1 2026$67.1M$1.8MQ2 2026$48.3M$2.3MQ3 2026
Latest (Q3 2026): Operating cash flow $48.3M, Capital spending $2.3M.

Capital allocation, year by year

Global Net Lease: where the cash came from (up) and went (down), by fiscal yearGlobal Net Lease: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $192MFY2021: Net borrowing $116MFY2021: Shares issued $214MFY2021: Asset sales $48.7MFY2021: Capital spending −$7.9MFY2021: Buybacks −$156KFY2021: Dividends −$156M$571MFY2021FY2022: Operating cash flow $182MFY2022: Net borrowing $180MFY2022: Shares issued $894KFY2022: Asset sales $54.7MFY2022: Capital spending −$29.9MFY2022: Buybacks −$686KFY2022: Dividends −$167M$418MFY2022FY2023: Operating cash flow $144MFY2023: Net borrowing $715MFY2023: Asset sales $80.9MFY2023: Capital spending −$47.3MFY2023: Acquisitions −$451MFY2023: Dividends −$207M$939MFY2023FY2024: Operating cash flow $299MFY2024: Net borrowing −$972MFY2024: Asset sales $803MFY2024: Capital spending −$45.6MFY2024: Dividends −$272M$1.1BFY2024FY2025: Operating cash flow $223MFY2025: Net borrowing −$1.7BFY2025: Asset sales $1.8BFY2025: Capital spending −$33.4MFY2025: Buybacks −$120MFY2025: Dividends −$192M$2.0BFY2025
Over these 5 years operating cash flow totalled $1.0B; the largest uses were net borrowing ($2.7B) and dividends ($995M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$151M
Debtnone
Net cash$151M

Global Net Lease funds itself: free cash flow was $198M over the last twelve months, with $151M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Global Net Lease: sources (+) and uses (−) of cash, Q3 2026Global Net Lease: sources (+) and uses (−) of cash, Q3 2026Net borrowing (+) / repaid (−)$361MOther investing−$315MBuybacks−$58.5MOperating cash flow$48.3MDividends−$40.4MAsset & business sales$15.6MOther financing−$11.2MCash drawn (+) / kept (−)$3.1MCapital spending−$2.3MExchange rates−$151K
Global Net Lease: sources (+) and uses (−) of cash, TTM to Q3 2026Global Net Lease: sources (+) and uses (−) of cash, TTM to Q3 2026Asset & business sales$552MAcquisitions−$302MOperating cash flow$211MDividends−$165MNet borrowing (+) / repaid (−)−$157MBuybacks−$145MOther financing−$51.3MOther investing$38.4MCash drawn (+) / kept (−)$37.7MCapital spending−$12.9MExchange rates−$6.0M

From profit to cash

Global Net Lease: net income to operating cash flow, Q3 2026Global Net Lease: net income to operating cash flow, Q3 2026Net income−$56.9MDepreciation & amortization$43.6MStock-based pay$3.8MPayables−$1.3MPrepaid and other assets−$3.1MOperating cash flow$48.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$48.3M−$2.3M−$58.5M−$40.4M$361M$3.1M$46.0M
Q2 2026$67.1M−$1.8M−$11.1M−$40.6M−$58.2M−$30.5M$65.3M
Q1 2026$39.7M−$1.6M−$38.4M−$41.3M−$84.5M$56.6M$38.1M
Q4 2025$55.6M−$7.2M−$37.4M−$42.3M−$386M$8.5M$48.4M
Q3 2025$56.0M−$6.6M−$6.9M−$42.3M−$87.5M−$20.5M$49.4M
Q2 2025$52.0M−$9.8M−$56.6M−$43.5M−$331M$24.0M$42.2M
Q1 2025$59.2M−$9.8M−$19.4M−$63.9M−$881M$18.0M$49.4M
Q4 2024$74.8M−$12.8M—−$63.8M−$187M−$43.4M$62.0M

Global Net Lease: income statement and cash flow

Global Net Lease, Q3 2026: revenue $113M (-7% year over year), operating margin -22.3%. The chart follows the revenue to costs, profit and cash.

Global Net Lease: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.