Global Net Lease, Inc. logo GNL - Global Net Lease, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 8
HOLD 7
SELL 1
STRONG
SELL
0
| PRICE TARGET: $10.50 DETAILS
HIGH: $11.00
LOW: $10.00
MEDIAN: $10.50
CONSENSUS: $10.50
UPSIDE: 12.54%
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1 2012 Q4 2012 Q3 2012 Q2 2012 Q1
Revenue
Revenue 109.3 117.0 121.0 124.9 132.4 199.1 196.6 145.5 147.9 206.7 118.2 95.8 94.3 93.9 92.6 95.2 97.1 106.5 95.8 99.6 89.4 87.0 82.7 81.1 79.2 76.7 77.9 76.1 75.5 71.2 71.9 71.0 68.1 66.6 64.9 65.0 62.8 52.8 53.3 53.2 55.0 56.0 50.3 49.1 50.0 46.3 25.9 13.6 7.5 2.5 1.2 0.2 0.0 0.0 0.1 0.1 0
Cost of Revenue 12.9 101.4 12.7 12.0 14.0 35.6 33.5 15.9 17.8 37.0 13.6 9.0 8.1 9.9 7.8 7.8 7.5 11.0 6.7 7.5 7.6 9.6 7.5 7.8 7.4 5.7 8.2 7.0 7.4 7.8 5.3 8.2 7.5 6.8 7.2 7.6 7.2 5.6 4.2 3.5 5.6 7.4 3.4 3.4 4.1 5.5 1.4 0.8 0.2 0.0 0.0 1.3 0 0.2 0 0 0
Gross Profit 96.4 15.5 108.3 112.9 118.5 163.5 163.0 129.5 130.1 169.7 104.5 86.8 86.2 84.1 84.8 87.4 89.7 95.6 89.0 92.1 81.8 77.4 75.2 73.3 71.9 71.0 69.7 69.1 68.1 63.5 66.6 62.8 60.6 59.8 57.7 57.4 55.6 47.1 49.0 49.7 49.3 48.7 46.9 45.7 45.9 40.8 24.5 12.8 7.3 2.4 1.2 (1.1) 0.0 (0.2) 0.1 0.1 0
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 12.1 13.4 14.9 14.7 19.3 16.1 14.9 16.1 16.6 17.3 26.1 23.7 18.7 49.1 17.3 7.0 6.6 46.8 6.6 7.2 6.7 6.8 5.1 5.9 5.4 3.8 14.0 12.9 13.4 11.4 12.2 9.7 8.1 7.8 8.5 5.5 7.5 8.3 7.9 6.9 7.6 6.6 8.8 25.0 3.0 1.4 1.0 1.7 1.0 0.1 0.0 0.0 0.0 0.0 0.1 0.1 0.0
Other Expenses 53.3 (40.0) 107.6 55.9 127.0 83.6 130.2 51.5 56.4 107.0 174.0 58.7 37.1 11.1 38.5 65.5 50.2 22.4 51.6 55.9 49.3 45.4 44.1 43.0 42.6 32.1 (0.0) 0.0 0.0 (0.1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 (0.0) 0.0 0.0 0.0 0.1 (0.0) 0.0 0.0 0.1 0.1 0.0 0.0 1.3 0.7 0.1 0 0.2 0 0 0
Operating Expenses 65.4 (26.6) 122.5 70.6 146.3 99.7 145.1 67.6 73.0 124.4 200.1 82.3 55.8 60.2 55.8 72.6 56.8 69.2 58.2 63.1 56.0 52.3 49.2 49.0 48.1 35.9 45.6 44.0 44.7 41.5 42.4 39.5 37.5 36.4 38.3 33.0 34.6 31.7 31.4 30.7 31.3 30.5 31.8 47.1 24.1 14.7 16.1 9.3 5.4 1.3 0.7 0.1 0.0 0.0 0.1 0.1 0.0
Operating Income
Operating Income 30.9 42.1 (14.2) 42.3 (27.9) 63.8 17.9 61.9 57.1 45.3 (95.6) 4.5 30.4 23.9 29.0 14.8 32.8 26.4 30.8 29.0 25.8 25.1 26.0 24.3 23.8 35.1 24.6 31.2 24.1 8.4 21.4 20.9 21.8 23.8 18.5 23.4 20.3 8.0 15.2 18.9 18.1 21.5 11.5 (21.8) 19.1 (2.1) (20.7) (4.7) (14.6) (2.0) (2.8) (1.3) 0.0 (0.2) (0.1) (0.1) (0.0)
Interest Expense 39.2 42.5 0 53.3 53.4 77.2 77.1 89.8 82.8 83.6 41.2 27.7 27.0 25.7 24.2 23.4 24.1 24.1 24.9 24.0 21.4 19.2 18.7 17.5 16.4 17.2 16.2 15.7 15.2 15.5 15.1 14.4 13.0 12.8 12.5 11.6 11.5 9.0 8.9 10.6 10.6 10.1 9.0 7.9 7.8 6.5 4.1 2.6 1.7 0.6 0.3 0.1 0.0 0.0 0 0 0
Interest Income 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 72.6 153.2 32.5 72.2 97.4 159.1 102.9 144.5 156.7 144.0 (40.3) 44.4 67.6 53.6 81.0 65.8 78.9 70.7 77.0 69.4 68.5 50.2 59.8 58.8 61.6 65.0 59.9 64.2 57.0 51.6 55.8 54.6 54.0 52.0 49.3 53.2 48.2 43.4 42.4 43.4 42.1 42.2 38.8 (30.2) 43.5 8.0 (5.3) 3.4 (10.2) (0.8) (2.1) (1.1) 0.1 (0.2) (0.1) (0.1) (0.0)
EBIT 30.9 108.8 (14.2) 24.5 41.3 71.7 12.8 50.0 59.6 40.5 (92.2) 5.0 28.8 15.5 42.1 25.2 37.8 27.5 34.2 28.5 27.6 13.1 23.7 23.8 27 31.8 27.0 31.8 24.4 21.6 18.3 23.4 18.9 23.5 19.4 17.3 19.9 20.0 18.4 18.9 18.1 24.8 15.2 (36.6) 20.7 (0.2) (20.5) (4.2) (14.7) (2.0) (2.7) (1.2) 0.0 (0.2) 0 0 0
Income Before Tax (6.7) 66.3 (59.5) (28.9) (91.9) (5.6) (64.3) (22.0) (5.0) (43.1) (133.4) (22.8) 1.8 (10.3) 17.9 1.8 13.6 3.4 9.3 4.5 6.3 (6.0) 5.0 6.2 10.6 14.6 10.9 16.1 9.2 (4.7) 3.2 8.9 5.9 9.4 3.2 5.7 8.4 19.1 9.5 16.4 7.1 14.7 6.2 (44.5) 27.5 (6.6) (24.6) (7.5) (16.3) (2.6) (3.1) (1.3) (0.0) (0.3) (0.1) (0.1) (0.0)
Income Tax Expense 1.6 12.4 3.1 3.0 3.3 1.0 1.3 (0.2) 2.4 5.5 2.8 3.5 2.7 2.4 3.1 2.5 3.1 6.2 1.9 1.9 2.1 2.5 0.9 0.7 1.0 1.7 0.9 0.8 1.0 (0.4) 0.5 1.2 1.1 1.0 0.8 0.5 0.9 3.0 0.4 0.4 0.6 2.2 0.7 1.3 1.6 5.1 0 2.7 0 0 0 0 0 0 0 0 0
Net Income (5.1) 48.2 (60.1) (24.1) (189.4) (6.5) (65.6) (35.7) (23.8) (48.6) (136.2) (26.3) (0.9) (12.6) 14.8 (0.7) 10.5 (2.8) 7.4 2.6 4.2 (8.5) 4.1 5.5 9.6 12.9 9.9 12.4 8.3 (4.3) 2.6 7.7 4.8 8.4 1.9 5.0 7.2 15.8 8.8 15.6 6.3 12.1 5.2 (45.7) 25.9 (5.2) (24.6) (7.5) (16.3) (2.6) (3.1) (1.3) (0.0) (0.3) (0.1) (0.1) (0.0)
Per Share Data
EPS (Basic) -0.08 0.17 -0.32 -0.16 -0.87 -0.08 -0.33 -0.16 -0.10 -0.21 -1.09 -0.25 -0.01 -0.12 0.09 -0.01 0.10 -0.03 0.07 0.03 0.05 -0.10 0.05 0.06 0.11 0.14 0.12 0.15 0.10 -0.06 0.04 0.12 0.07 0.13 0.03 0.08 0.11 0.27 0.16 0.28 0.11 0.21 0.09 -0.76 0.46 -0.09 -0.44 -0.13 -0.29 -0.05 -0.05 -0.02 -0.00 -0.00 -0.00
EPS (Diluted) -0.08 0.17 -0.32 -0.16 -0.87 -0.08 -0.33 -0.16 -0.10 -0.21 -1.09 -0.25 -0.01 -0.12 0.09 -0.01 0.10 -0.03 0.07 0.03 0.05 -0.09 0.05 0.06 0.11 0.14 0.12 0.15 0.10 -0.06 0.04 0.12 0.07 0.13 0.03 0.08 0.11 0.27 0.16 0.28 0.11 0.21 0.09 -0.76 0.46 -0.09 -0.44 -0.13 -0.29 -0.05 -0.05 -0.02 -0.00 -0.00 -0.00
Shares Outstanding 214.0 219.1 220.9 223.0 230.3 230.4 230.5 230.4 230.3 230.3 130.8 104.1 103.8 103.8 103.7 103.6 103.6 103.6 101.5 96.4 91.5 89.2 89.5 89.5 89.5 89.5 85.3 83.8 81.5 73.6 69.4 67.3 67.3 67.3 67.3 66.7 66.3 57.8 56.5 56.3 56.3 56.3 56.3 60.1 56.3 56.3 56.3 56.3 56.3 56.3 56.3 56.3 56.3 56.9 57.5 57.5 57.5
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1
Current Assets
Cash & Cash Equivalents 137.5 180.1 165.1 144.8 147.0 159.7 127.2 122.2 131.9 121.6 133.4 100.9 119.2 103.3 128.0 111.2 123.5 89.7 176.4 174.9 262.9 124.2 300 316.8 343.4 270.3 306.0 178.7 95.3 100.3 155.2 93.3 106.7 102.4 71.3 67.4 72.4 69.8 50.3 40.5 45.8
Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Receivables 0 100.9 139.0 178.6 201.5 99.5 98.9 92.4 87.0 84.3 76.3 77.9 75.7 73.0 68.9 68.3 68.1 74.2 66.5 63.5 61.8 61.0 58.0 55.0 51.9 51.8 51.2 50.6 49.1 47.2 46.2 45.0 45.1 0.0 0.0 38.2 34.2 5.2 29.6 27.6 0.0
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (81.0) (22.2) (6.4) (5.4) (4.5) (22.6) (20.2) 0 0 (17.6) 0 0 0
Other Current Assets 0 64.0 72.8 77.2 901.3 81.9 62.9 54.6 65.9 44.0 46.3 4.3 1.4 1.1 (1.1) (41.7) (43.3) (93.3) 74.0 102.6 46.3 46.3 48.5 42.5 50.0 45.3 153.6 213.5 33.0 94.0 37.9 54.0 33.5 0 25.6 24.7 24.7 0 52.7 21.3 47.7
Total Current Assets 137.5 344.9 376.9 400.6 1,249.8 341.1 289.1 269.2 284.7 249.8 256 183.1 196.3 177.9 248.6 187.7 199.6 167.5 316.9 341.0 371.0 231.5 406.5 414.4 445.4 368.0 510.8 442.8 258.4 263.8 239.3 192.4 185.4 150.5 117.6 131.6 134.5 112.9 132.6 89.4 93.5
Non-Current Assets
Property, Plant & Equipment 61.9 63.4 69.9 70.8 67.5 74.3 78.3 76.7 75.5 77.0 75.7 51.2 51.0 49.2 45.5 48.9 52.5 52.9 3,855.7 3,868.6 3,640.1 3,309.5 3,382.3 3,342.8 3,333.7 2,895.0 49.3 3,067.4 2,997.3 2,525.1 2,937.0 2,881.8 2,912.5 2,368.6 2,782.9 2,761.7 2,723.2 2,233.3 2,259.2 2,334.2 2,396.1
Goodwill 0 45.9 46.0 46.0 44.8 51.4 52.3 50.0 48.5 47.0 51.0 21.6 21.6 21.4 20.4 21.1 21.8 22.1 0 0 0 0 0 0 0 0 21.6 22.1 21.9 22.2 22.4 22.4 23.2 22.8 22.6 22.2 13.4 13.9 3.1 3.0 3.1
Intangible Assets 45.6 0 0 0 0 0 0 0 0 891.0 1,366.6 727.7 0 689.3 0 0 0 0 22.3 22.7 23.1 415.7 22.5 21.9 21.7 423.3 641.3 653.7 647.7 675.6 656.4 642.5 648.4 629.6 615.7 608.1 594.3 587.1 496.9 510.4 518.8
Long-Term Investments 3,715.2 0 0 0 0 0 0 0 0 10.6 6,310.2 2,965.3 0 37.3 0 0 0 0 0 0 0 0 0 0 0 0 2,340.5 (3,067.4) 3,412.5 3,417.6 3,351.5 3,267.7 3,283.5 3,170.6 3,090.9 (2,761.7) (2,723.2) (2,233.3) (2,259.2) (2,334.2) (2,396.1)
Other Non-Current Assets 187.1 3,887.9 4,267.5 4,462.7 4,422.3 6,484.1 6,911.4 7,212.0 7,555.3 6,818.7 122.6 50.5 3,770.0 2,983.2 3,649.7 3,785.4 3,877.4 3,939.0 8.0 8.8 9.6 10.2 13.1 13.8 14.6 15.4 41.8 2,372.9 (4,017.3) (3,598.1) (3,990.5) (3,896.8) (3,920.8) (3,304.5) (3,678.0) 2,169.5 2,153.8 2,175.9 1,771.1 1,830.9 1,883.4
Total Non-Current Assets 4,014.8 4,002.3 4,388.3 4,584.4 4,539.5 6,614.6 7,046.8 7,343.5 7,684.1 7,849.1 7,928.7 3,818.8 3,845.2 3,783.9 3,716.9 3,856.9 3,953.2 4,015.4 3,886.1 3,900.1 3,672.8 3,735.5 3,417.9 3,378.6 3,370.0 3,333.7 3,097.8 3,051.9 3,065.3 3,045.7 2,977.7 2,918.7 2,947.8 2,888.1 2,835.7 2,801.3 2,763.1 2,778.5 2,273.6 2,346.9 2,407.8
Total Assets 4,152.3 4,347.2 4,765.2 4,984.9 5,789.3 6,955.8 7,335.9 7,612.7 7,968.8 8,099.0 8,184.7 4,001.9 4,041.5 3,961.8 3,965.6 4,044.5 4,152.7 4,183.0 4,203.1 4,241.0 4,043.9 3,967.0 3,824.5 3,793.0 3,815.4 3,701.6 3,608.6 3,494.8 3,323.8 3,309.5 3,217.1 3,111.1 3,133.1 3,038.6 2,953.3 2,933.0 2,897.6 2,891.5 2,406.2 2,436.3 2,501.3
Current Liabilities
Account Payables 0 43.8 44.4 45.9 47.8 75.7 90.7 85.8 101.0 99.0 118.0 31.3 0 22.9 0 0 0 0 36.5 29.2 30.0 28.3 28.8 27.1 22.8 22.9 20.7 46.2 43.5 31.5 26.4 27.2 27.3 23.2 24.6 23.2 22.6 22.9 17.1 18.0 19.6
Short-Term Debt 94.5 324.2 663.8 740.7 547.4 1,390.3 1,583.9 1,735.6 1,760.2 1,744.2 1,609.9 1,038.5 250.1 670.0 4.2 43.1 55.2 67.1 7.1 10.1 11.6 15.4 17.1 17.0 13.5 6.7 0 259.5 260.4 0 0 0 0 0 1.0 723.3 720.9 672.0 0 673.7 703.3
Deferred Revenue 0 28.3 38.9 36.6 14.4 28.7 44.8 45.7 47.5 46.2 47.1 28.8 0 28.5 0 0 0 0 0 0 0 0 0 0 0 0 20.3 21.1 20.8 16.2 17.3 16.7 21.5 18.5 20.5 20.9 20.5 18.4 14.0 14.4 13.6
Other Current Liabilities 0 0.9 3.3 7.8 496.9 0 0 0 0 0 0 0 36.5 0 33.0 30.8 35.5 32.2 7.1 8.5 8.6 9.7 6.5 5.5 5.5 5.9 (41.1) 0 0 (45.5) (47.0) (41.9) (47.9) (39.3) (39.3) (759.9) (756.4) (704.2) (31.8) (702.2) (732.8)
Total Current Liabilities 94.5 408.9 762.3 843.0 1,118.5 1,506.7 1,731.2 1,878.7 1,920.0 1,900.6 1,786.0 1,104.1 286.6 727.7 37.2 73.9 90.7 99.3 51.0 48.9 51.3 53.4 52.7 50.3 43.1 35.5 146.2 330.6 328.0 417.3 503.5 507.8 395.0 346.5 471.6 775.0 750.1 724.5 706.4 710.7 740.6
Non-Current Liabilities
Long-Term Debt 2,351.8 2,192.8 2,228.0 2,229.6 2,685.5 3,127.8 3,174.4 3,164.6 3,372.1 3,403.9 3,453.0 1,489.0 2,252.1 1,726.2 2,351.9 2,354.2 2,370.1 2,359.6 2,379.3 2,437.2 2,251.2 2,265.3 2,098.8 2,046.7 2,039.0 1,869.1 1,858.1 1,563.4 1,404.5 1,772.4 1,712.5 1,659.3 1,617.7 1,513.7 1,436.3 769.5 733.5 747.4 1,174.1 507.5 526.1
Deferred Tax Liabilities 17.5 17.8 7.1 7.1 6.0 5.5 6.2 5.6 5.7 6.0 6.0 6.4 6.4 7.3 6.4 7.2 8.0 8.3 0 0 0 0 0 0 0 0 14.6 15.1 15.0 15.2 15.4 15.5 16.3 15.9 15.6 15.1 15.7 15.1 4.1 4.1 4.2
Other Non-Current Liabilities 43.2 5.3 6.6 10.8 2.7 3.7 18.7 1.6 3.7 5.1 0.3 1.8 (2,342.3) 0.3 (2,443.8) (2,442.5) (2,465.7) (2,452.8) 81.3 79.2 71.1 68.6 67.0 61.5 61.3 63.1 35.1 283.3 (14.9) 38.9 32.9 36.2 50.3 42.4 41.0 761.0 758.3 712.5 59.5 736.0 764.9
Total Non-Current Liabilities 2,496.5 2,274.8 2,301.8 2,309.6 2,755.3 3,262.1 3,329.4 3,310.8 3,522.1 3,559.2 3,605.5 1,542.6 0 1,780.2 0 0 0 0 2,483.7 2,539.5 2,345.3 2,359.3 2,189.9 2,131.2 2,122.3 1,956.2 1,837.0 1,618.5 1,458.2 1,463.4 1,307.6 1,254.7 1,343.7 1,277.8 1,080.1 830.4 816.3 810.9 549.0 555.2 571.8
Total Liabilities 2,591.0 2,683.7 3,064.2 3,152.5 3,873.8 4,768.8 5,060.7 5,189.4 5,442.1 5,459.8 5,391.5 2,646.7 2,629.9 2,507.9 2,481.0 2,516.6 2,557.4 2,556.3 2,534.7 2,588.4 2,396.6 2,412.7 2,242.6 2,181.4 2,165.4 1,991.6 1,983.3 1,949.1 1,786.2 1,880.7 1,811.1 1,762.5 1,738.6 1,624.4 1,551.7 1,605.4 1,566.4 1,535.5 1,255.4 1,265.9 1,312.4
Stockholders' Equity
Common Stock 3.5 3.5 3.5 3.5 3.6 3.6 3.6 3.6 3.6 3.6 3.6 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.3 2.3 2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.1 2.1 2.0 2.0 2.0 2.0 2.0 2.0 2.0 1.7 1.7 1.7
Retained Earnings (2,668.6) (2,611.4) (2,606.6) (2,493.2) (2,414.7) (2,150.3) (2,069.4) (1,929.1) (1,818.8) (1,702.1) (1,560.7) (1,368.7) (1,295.5) (1,247.8) (1,188.3) (1,156.2) (1,108.6) (1,072.5) (1,023.0) (985.0) (933.7) (896.5) (847.3) (810.9) (776.0) (733.2) (694.7) (656.4) (654.0) (615.4) (569.4) (532.6) (502.0) (468.4) (438.0) (404.2) (373.9) (346.1) (331.8) (310.6) (296.3)
Accumulated Other Comprehensive Income 0 22.2 19.5 33.5 (15.8) (25.8) (16.8) (6.8) (11.8) (14.1) (0.6) 11.6 0 1.1 0 0 0 0 10.5 17.3 13.9 8.1 (5.6) (5.4) 0.5 20.2 (14.6) (4.0) 0.2 6.8 17.1 19.1 34.6 19.4 9.1 (2.7) (13.4) (16.7) (15.3) (15.8) (11.9)
Total Stockholders' Equity 1,561.3 1,663.5 1,701.0 1,832.4 1,915.6 2,187.0 2,272.6 2,421.0 2,524.9 2,637.8 2,791.9 1,335.8 1,394.5 1,439.0 1,471.9 1,517.5 1,587.2 1,620.7 1,664.7 1,651.2 1,623.1 1,532.5 1,562.5 1,594.5 1,635.3 1,697.6 1,615.4 1,538.0 1,532.3 1,425.5 1,404.0 1,348.6 1,394.4 1,413.2 1,399.4 1,324.7 1,323.6 1,347.8 1,143.7 1,155.6 1,173.7
Total Liabilities & Equity 4,152.3 4,347.2 4,765.2 4,984.9 5,789.3 6,955.8 7,335.9 7,612.7 7,968.8 8,099.0 8,184.7 4,001.9 4,041.5 3,961.8 3,965.6 4,044.5 4,152.7 4,183.0 4,203.1 4,241.0 4,043.9 3,967.0 3,824.5 3,793.0 3,815.4 3,701.6 3,608.6 3,494.8 3,323.8 3,309.5 3,217.1 3,111.1 3,133.1 3,038.6 2,953.3 2,933.0 2,897.6 2,891.5 2,406.2 2,436.3 2,501.3
Debt Metrics
Total Debt 2,503.6 2,575.9 2,952.0 3,032.4 3,294.1 4,643.2 4,888.6 5,039.2 5,272.9 5,292.3 5,209.1 2,572.9 2,548.1 2,442.6 2,401.1 2,446.1 2,476.7 2,478.9 2,409.8 2,471.5 2,286.9 2,306.1 2,140.3 2,087.3 2,075.8 1,899.8 1,881.7 1,823.0 1,664.9 1,772.4 1,712.5 1,659.3 1,617.7 1,513.7 1,437.3 1,492.8 1,454.4 1,419.4 1,174.1 1,181.2 1,229.3
Net Debt 2,366.2 2,395.8 2,786.9 2,887.6 3,147.0 4,483.5 4,761.3 4,917.0 5,141.0 5,170.7 5,075.7 2,472.0 2,427.5 2,339.3 2,266.4 2,328.9 2,348.6 2,385.6 2,233.4 2,296.6 2,024.1 2,181.9 1,840.3 1,770.5 1,732.4 1,629.5 1,575.7 1,644.2 1,569.6 1,672.1 1,557.3 1,566.0 1,511.0 1,411.3 1,366.0 1,425.4 1,382.1 1,349.5 1,123.9 1,140.7 1,183.5
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1
Operating Activities
Net Income (8.2) 48.2 (60.1) (35.1) (189.4) (6.6) (65.6) (35.7) (23.8) (48.6) (136.2) (26.3) (0.9) (12.6) 14.8 (0.7) 10.5 (2.8) 7.4 2.6 4.2 (8.5) 4.1 5.5 9.6 12.9 9.9 15.3 8.3 (4.3) 2.6 7.7 4.8 8.4 2.5 5.2 7.5 16.1 9.0 15.9 6.6
Depreciation & Amortization 41.6 46.2 46.7 46.9 90.2 87.5 90.0 94.5 97.1 103.6 51.9 39.4 38.8 38.1 39.0 40.6 41.2 43.2 42.8 40.9 40.8 37.1 36.1 35.0 34.6 33.2 32.9 32.4 32.7 31.4 31.6 31.2 30.9 29.9 31.2 28.8 28.3 24.1 24.0 24.4 24.4
Stock-Based Compensation 0 3.0 3.1 3.3 3.1 2.3 2.3 2.3 2.0 22.9 4.2 2.9 2.9 2.9 3.1 3.4 2.7 2.7 2.7 3.0 2.6 2.6 2.5 2.5 2.5 2.5 2.5 2.4 2.1 1.5 2.1 (0.0) (0.8) (1.2) (0.4) (2.2) 0.0 1.3 1.3 0.1 1.0
Change in Working Capital (8.9) 10.9 (4.9) (7.1) (14.9) (6.4) (20.6) (15.0) 10.5 (17.3) (6.9) (2.4) 21.1 (23.1) 9.0 (5.5) 5.4 (9.9) 60.3 (49.0) 7.0 (4.5) 1.4 5.2 2.5 4.7 (16.4) 5.6 (16.5) 11.3 (6.7) (6.6) 4.3 (9.7) (0.5) 0.8 (1.5) 3.8 (0.9) (1.0) (4.7)
Other Non-Cash Items 17.7 (52.7) 71.4 44.0 170.2 (2.0) 56.1 24.2 6.4 (4.8) 90.6 5.6 1.1 16.9 (12.3) 6.3 2.0 1.2 (13.1) 7.2 (1.4) 13.8 2.5 (0.5) (7.2) (5.2) (0.5) (2.7) (1.8) 3.6 (0.4) (1.0) 1.4 0.3 (3.0) (2.8) (1.5) (22.3) (2.3) (1.2) 0.8
Operating Cash Flow 42.2 55.6 56.0 52.0 59.2 74.8 62.1 70.4 92.2 55.8 3.6 21.3 63.0 22.2 53.7 44.1 61.8 34.4 100.2 4.7 53.2 40.5 46.6 47.8 41.9 48.1 26.6 46.5 24.8 41.2 33.7 29.0 40.7 28.5 33.6 36.2 32.7 24.3 30.1 31.8 28.1
Investing Activities
Capital Expenditure (1.6) (7.2) (6.6) (9.8) (9.8) (12.8) (14.3) (10.5) (8.0) (17.7) (18.4) (3.7) (7.4) (10.8) (14.4) (3.0) (1.8) (1.9) (1.4) (1.3) (3.2) (2.8) (1.4) (0.8) (1.4) (3.7) (1.5) (0.9) (11.3) 2.6 (2.1) (0.4) (0.1) (1.9) (0.7) (0.2) (0.4) 0.2 0 (0.1) (0.1)
Acquisitions 0 0 0 0 0 0 0 0 0 (0.6) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (2.6) 0 0 0 0 0 0 0 19.0 0 0 0
Purchases of Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.6 0 0 (0.6) 0 0 0 0 0 0 0 0
Sales/Maturities of Investments 63.1 0 0 0 0 0 248.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 9.3 23.7 0 0 0 12.3 0 0 12.4 107.8 0 0 0
Other Investing Activities 10.0 427.0 137.6 353.3 910.5 257.4 0.5 256.5 43.1 20.2 (442.9) 0 (88.8) 30.7 (11.8) (33.7) (1.8) (126.8) (40.0) (265.3) (4.4) (292.1) (31.3) (31.1) (115.9) (112.3) (45.2) (108.0) (24.7) (231.2) (80.9) (96.6) (70.3) (74.1) 3.8 0 (30.3) 12.9 13.4 0 0
Investing Cash Flow 71.6 419.9 131.0 353.3 900.7 244.6 234.2 246.0 35.2 1.9 (461.3) (3.7) (88.8) 30.7 (11.8) (33.7) (1.8) (126.8) (40.0) (265.3) (4.4) (292.1) (31.3) (31.1) (115.9) (112.3) (46.7) (108.8) (26.6) (206.9) (83.0) (97.1) (71.0) (63.7) 3.1 (0.2) (18.2) 120.9 13.4 (0.1) (0.1)
Financing Activities
Net Debt Issuance (73.0) (387.9) (87.8) (330.8) (881.3) (189.8) (205.7) (260.6) (14.2) 24.9 590.4 11.9 86.4 (43.4) 27.0 39.0 20.9 61.5 (69.2) 177.5 12.3 116.2 4 (7.0) 205 (31.0) 65.0 160.9 (102.4) 76.5 63.2 97.9 71.4 66.9 (85.0) (26.6) 18.6 (87.4) (2.0) (6.9) (20.2)
Stock Repurchased (39.9) (38.4) (7.1) (57.2) (19.4) (0.5) (0.1) (0.4) (0.1) (0.2) (0.8) (0.3) 0 0.0 (0.3) 0 0 0 (0.2) 0 0 (0.4) (0.0) (0.0) (0.1) 0 0 0 0 0 0.0 0 0 0 0 0 0 0 0 0 0
Dividends Paid (52.2) (53.2) (53.3) (54.4) (74.9) (74.7) (74.4) (74.4) (92.7) (92.6) (47.1) (46.8) (46.8) (46.8) (47.1) (46.7) (46.6) (46.6) (45.3) (43.2) (41.0) (40.5) (40.4) (40.3) (51.3) (50.7) (47.7) (17.4) (45.7) (41.5) (39.1) (38.3) (38.3) (36.5) (35.8) (35.5) (35.3) (30.2) (30.1) (30.0) (30.0)
Other Financing Activities 0 (0.0) (15.3) (2.6) 0 (0.0) (0.0) (6.8) (0.9) 0.0 (9.7) (0.1) (0.1) (0.6) (0.1) (10.2) (0.1) (4.4) (0.2) (12.6) (0.3) (9.8) (2.1) (2.7) (0.1) (0.2) (124.8) (5.0) (1.3) 73.1 (5.2) 0 (0.2) (4.2) (10.4) 0.9 1.4 (2.3) (1.4) 1.3 (1.6)
Financing Cash Flow (165.2) (479.5) (163.5) (445.0) (975.6) (265.0) (280.3) (342.2) (107.9) (68.0) 532.8 (35.3) 39.5 (90.8) (19.3) (16.3) (23.4) 10.5 (56.9) 171.9 92.8 71.2 (34.0) (50.1) 153.5 3.9 142.9 150.8 2.4 108.1 111.7 59.8 32.6 59.8 (34.9) (42.6) (13.0) (119.9) (33.5) (35.6) (51.8)
Cash Position
Net Change in Cash (56.6) (8.5) 20.5 (24.0) (18.0) 43.4 8.3 (11.2) 21.3 (16.0) 73.3 (15.4) 16.1 (30.2) 17.5 (10.9) 34.8 (85.7) 2.1 (87.3) 138.5 (175.1) (16.8) (30.2) 73.5 (35.6) 118.2 93.0 (5.1) (55.0) 62.5 (13.2) 1.7 36.4 3.9 (4.9) 2.5 19.6 9.8 (5.3) (24.2)
Cash at Beginning 194.1 202.6 182.1 206.2 224.2 180.8 172.5 183.7 162.4 178.4 105.2 120.6 104.4 134.6 117.1 128.1 93.3 179.1 176.9 264.2 125.7 300.8 317.6 347.8 274.3 309.9 191.7 98.6 103.7 158.7 96.2 109.4 107.7 71.3 67.4 72.4 69.8 50.3 40.5 45.8 69.9
Cash at End 137.5 194.1 202.6 182.1 206.2 224.2 180.8 172.5 183.7 162.4 178.4 105.2 120.6 104.4 134.6 117.1 128.1 93.3 179.1 176.9 264.2 125.7 300.8 317.6 347.8 274.3 309.9 191.7 98.6 103.7 158.7 96.2 109.4 107.7 71.3 67.4 72.4 69.8 50.3 40.5 45.8
Free Cash Flow 40.6 48.4 49.4 42.2 49.4 62.0 47.8 59.9 84.2 38.1 (14.8) 17.6 55.6 11.4 39.3 41.1 60.0 32.5 98.7 3.4 50.0 37.7 45.2 47.0 40.5 44.5 25.1 45.6 13.5 43.8 31.6 28.6 40.6 26.5 32.9 36.0 32.3 24.5 30.1 31.7 28.0
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1 2012 Q4 2012 Q3 2012 Q2 2012 Q1
Income Statement
Revenue 109.3 117.0 121.0 124.9 132.4 199.1 196.6 145.5 147.9 206.7 118.2 95.8 94.3 93.9 92.6 95.2 97.1 106.5 95.8 99.6 89.4 87.0 82.7 81.1 79.2 76.7 77.9 76.1 75.5 71.2 71.9 71.0 68.1 66.6 64.9 65.0 62.8 52.8 53.3 53.2 55.0 56.0 50.3 49.1 50.0 46.3 25.9 13.6 7.5 2.5 1.2 0.2 0.0 0.0 0.1 0.1 0
Gross Profit 96.4 15.5 108.3 112.9 118.5 163.5 163.0 129.5 130.1 169.7 104.5 86.8 86.2 84.1 84.8 87.4 89.7 95.6 89.0 92.1 81.8 77.4 75.2 73.3 71.9 71.0 69.7 69.1 68.1 63.5 66.6 62.8 60.6 59.8 57.7 57.4 55.6 47.1 49.0 49.7 49.3 48.7 46.9 45.7 45.9 40.8 24.5 12.8 7.3 2.4 1.2 (1.1) 0.0 (0.2) 0.1 0.1 0
Operating Income 30.9 42.1 (14.2) 42.3 (27.9) 63.8 17.9 61.9 57.1 45.3 (95.6) 4.5 30.4 23.9 29.0 14.8 32.8 26.4 30.8 29.0 25.8 25.1 26.0 24.3 23.8 35.1 24.6 31.2 24.1 8.4 21.4 20.9 21.8 23.8 18.5 23.4 20.3 8.0 15.2 18.9 18.1 21.5 11.5 (21.8) 19.1 (2.1) (20.7) (4.7) (14.6) (2.0) (2.8) (1.3) 0.0 (0.2) (0.1) (0.1) (0.0)
Net Income (5.1) 48.2 (60.1) (24.1) (189.4) (6.5) (65.6) (35.7) (23.8) (48.6) (136.2) (26.3) (0.9) (12.6) 14.8 (0.7) 10.5 (2.8) 7.4 2.6 4.2 (8.5) 4.1 5.5 9.6 12.9 9.9 12.4 8.3 (4.3) 2.6 7.7 4.8 8.4 1.9 5.0 7.2 15.8 8.8 15.6 6.3 12.1 5.2 (45.7) 25.9 (5.2) (24.6) (7.5) (16.3) (2.6) (3.1) (1.3) (0.0) (0.3) (0.1) (0.1) (0.0)
EPS (Diluted) -0.08 0.17 -0.32 -0.16 -0.87 -0.08 -0.33 -0.16 -0.10 -0.21 -1.09 -0.25 -0.01 -0.12 0.09 -0.01 0.10 -0.03 0.07 0.03 0.05 -0.09 0.05 0.06 0.11 0.14 0.12 0.15 0.10 -0.06 0.04 0.12 0.07 0.13 0.03 0.08 0.11 0.27 0.16 0.28 0.11 0.21 0.09 -0.76 0.46 -0.09 -0.44 -0.13 -0.29 -0.05 -0.05 -0.02 -0.00 -0.00 -0.00
Balance Sheet
Cash & Equivalents 137.5 180.1 165.1 144.8 147.0 159.7 127.2 122.2 131.9 121.6 133.4 100.9 119.2 103.3 128.0 111.2 123.5 89.7 176.4 174.9 262.9 124.2 300 316.8 343.4 270.3 306.0 178.7 95.3 100.3 155.2 93.3 106.7 102.4 71.3 67.4 72.4 69.8 50.3 40.5 45.8
Total Assets 4,152.3 4,347.2 4,765.2 4,984.9 5,789.3 6,955.8 7,335.9 7,612.7 7,968.8 8,099.0 8,184.7 4,001.9 4,041.5 3,961.8 3,965.6 4,044.5 4,152.7 4,183.0 4,203.1 4,241.0 4,043.9 3,967.0 3,824.5 3,793.0 3,815.4 3,701.6 3,608.6 3,494.8 3,323.8 3,309.5 3,217.1 3,111.1 3,133.1 3,038.6 2,953.3 2,933.0 2,897.6 2,891.5 2,406.2 2,436.3 2,501.3
Total Debt 2,503.6 2,575.9 2,952.0 3,032.4 3,294.1 4,643.2 4,888.6 5,039.2 5,272.9 5,292.3 5,209.1 2,572.9 2,548.1 2,442.6 2,401.1 2,446.1 2,476.7 2,478.9 2,409.8 2,471.5 2,286.9 2,306.1 2,140.3 2,087.3 2,075.8 1,899.8 1,881.7 1,823.0 1,664.9 1,772.4 1,712.5 1,659.3 1,617.7 1,513.7 1,437.3 1,492.8 1,454.4 1,419.4 1,174.1 1,181.2 1,229.3
Stockholders' Equity 1,561.3 1,663.5 1,701.0 1,832.4 1,915.6 2,187.0 2,272.6 2,421.0 2,524.9 2,637.8 2,791.9 1,335.8 1,394.5 1,439.0 1,471.9 1,517.5 1,587.2 1,620.7 1,664.7 1,651.2 1,623.1 1,532.5 1,562.5 1,594.5 1,635.3 1,697.6 1,615.4 1,538.0 1,532.3 1,425.5 1,404.0 1,348.6 1,394.4 1,413.2 1,399.4 1,324.7 1,323.6 1,347.8 1,143.7 1,155.6 1,173.7
Cash Flow
Operating Cash Flow 42.2 55.6 56.0 52.0 59.2 74.8 62.1 70.4 92.2 55.8 3.6 21.3 63.0 22.2 53.7 44.1 61.8 34.4 100.2 4.7 53.2 40.5 46.6 47.8 41.9 48.1 26.6 46.5 24.8 41.2 33.7 29.0 40.7 28.5 33.6 36.2 32.7 24.3 30.1 31.8 28.1
Capital Expenditure (1.6) (7.2) (6.6) (9.8) (9.8) (12.8) (14.3) (10.5) (8.0) (17.7) (18.4) (3.7) (7.4) (10.8) (14.4) (3.0) (1.8) (1.9) (1.4) (1.3) (3.2) (2.8) (1.4) (0.8) (1.4) (3.7) (1.5) (0.9) (11.3) 2.6 (2.1) (0.4) (0.1) (1.9) (0.7) (0.2) (0.4) 0.2 0 (0.1) (0.1)
Free Cash Flow 40.6 48.4 49.4 42.2 49.4 62.0 47.8 59.9 84.2 38.1 (14.8) 17.6 55.6 11.4 39.3 41.1 60.0 32.5 98.7 3.4 50.0 37.7 45.2 47.0 40.5 44.5 25.1 45.6 13.5 43.8 31.6 28.6 40.6 26.5 32.9 36.0 32.3 24.5 30.1 31.7 28.0