<div id="readability-page-1"><div><ul> <li>Wondering whether Global Net Lease at about US$9.20 is offering fair value or an opportunity? This article walks through what the current price may be implying.</li> <li>The stock is up 0.9% over the last week, has slipped 3.1% over the last month, yet sits 4.3% higher year to date and 26.3% higher over the past year. These moves can change how you think about both upside and risk.</li> <li>Recent headlines have focused on Global Net Lease as part of broader discussions around US listed real estate investment trusts, with investors weighing yield, asset quality, and balance sheet strength. This context has kept attention on how income focused property stocks are priced compared with other income options.</li> <li>Global Net Lease currently scores 4 out of 6 on Simply Wall St's valuation checks, as shown by its valuation score. Next up is a look at what traditional valuation methods suggest and how a more holistic approach at the end of this article can help you interpret those signals.</li> </ul> Global Net Lease delivered 26.3% returns over the last year. See how this stacks up to the rest of the REITs industry. <h3>Approach 1: Global Net Lease Discounted Cash Flow (DCF) Analysis</h3> The Discounted Cash Flow model takes Global Net Lease's adjusted funds from operations, projects them into the future, then discounts those cash flows back to today using a required rate of return. This gives an estimate of what the stock might be worth based on its own cash generation rather than market sentiment. Global Net Lease has last twelve months free cash flow of about $221.007 million. Analysts and model estimates project annual free cash flows in a similar range over the next decade, with specific examples including $188.894 million in 2026 and $212 million in 2030, all in $. Simply Wall St uses analyst estimates where available, then extrapolates further years using its 2 Stage Free Cash Flow to Equity model based on adjusted funds from operations. After discounting these projected cash flows, the model arrives at an estimated intrinsic value of about $16.71 per share. Compared with the current share price of about $9.20, this implies the stock trades at a 44.9% discount, which indicates that Global Net Lease appears undervalued on this DCF view. Result: UNDERVALUED Our Discounted Cash Flow (DCF) analysis suggests Global Net Lease is undervalued by 44.9%. Track this in your watchlist or portfolio, or discover 48 more high quality undervalued stocks. <figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/a416dcf6-a7d5-4432-ab49-28063f434e7a/chart/dcf/query-ZGF0ZT0yMDI2LTA1LTE1?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/a416dcf6-a7d5-4432-ab49-28063f434e7a/chart/dcf/query-ZGF0ZT0yMDI2LTA1LTE1"/><figcaption>GNL Discounted Cash Flow as at May 2026</figcaption></figure> Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Global Net Lease. <h3>Approach 2: Global Net Lease Price vs Sales</h3> For profitable companies that generate meaningful revenue, the price to sales, or P/S, ratio is a useful way to see how much investors are currently paying for each dollar of sales. It is especially handy when earnings can be noisy or affected by non cash items, which is often the case for real estate investment trusts. In general, higher growth expectations and lower perceived risk can support a higher P/S multiple, while slower growth and higher risk usually point to a lower, more cautious range. So the question is not whether a P/S of 4x or 8x is high or low in isolation, but whether it fits the company’s profile. Global Net Lease trades on a P/S ratio of 4.13x, compared with an industry average of 6.95x for REITs and a peer group average of 5.03x. Simply Wall St’s Fair Ratio for Global Net Lease is 5.98x, which is its proprietary view of what the P/S should be given factors like growth, risks, profit margin, industry and market cap. Because this Fair Ratio explicitly adjusts for these company specific features, it can provide a more tailored reference point than broad peer or industry comparisons. On this measure, the current 4.13x P/S sits below the 5.98x Fair Ratio, which indicates that the stock appears inexpensive on a sales based view. Result: UNDERVALUED <figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/a416dcf6-a7d5-4432-ab49-28063f434e7a/chart/ps-multiple-vs-industry/query-ZGF0ZT0yMDI2LTA1LTE1?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/a416dcf6-a7d5-4432-ab49-28063f434e7a/chart/ps-multiple-vs-industry/query-ZGF0ZT0yMDI2LTA1LTE1"/><figcaption>NYSE:GNL P/S Ratio as at May 2026</figcaption></figure> P/S ratios tell one story, but what if the real opportunity lies elsewhere? Start investing in legacies, not executives. Discover our 19 top founder-led companies. <h3>Upgrade Your Decision Making: Choose your Global Net Lease Narrative</h3> Earlier it was mentioned that there is an even better way to understand valuation. Narratives are Simply Wall St's way for you to attach a clear story about Global Net Lease to the numbers by linking your view of its business, future revenue, earnings and margins to a fair value that you can directly compare with the current price. You can then see in real time how new information such as earnings or news shifts that fair value. For example, one investor might lean toward the higher US$12.0 Narrative that focuses on deleveraging, buybacks and essential assets. Another might lean toward the lower US$8.0 Narrative that focuses on office exposure, refinancing risk and slower growth. All of this is available within an accessible tool on the Community page that updates as the data changes. For Global Net Lease however, we will make it really easy for you with previews of two leading Global Net Lease Narratives: 🐂 Global Net Lease Bull Case Narrative fair value: US$10.00 per share Implied discount to this narrative fair value from about US$9.20: 8.0% Analyst revenue growth assumption used in this narrative: 56.1% <ul> <li>Focuses on a shift toward income producing net lease assets in essential industrial, logistics, and higher quality office properties across North America and Europe.</li> <li>Highlights asset sales, leverage reduction, and rent escalating or CPI linked leases as tools to support earnings, reduce risk, and support shareholder returns.</li> <li>Flags ongoing office exposure, sector concentration, high leverage, and modest rent growth as key watchpoints for earnings, valuation, and dividend resilience.</li> </ul> 🐻 Global Net Lease Bear Case Narrative fair value: US$8.00 per share Implied premium to this narrative fair value from about US$9.20: 15.0% Analyst revenue growth assumption used in this narrative: 1,634.7% <ul> <li>Points to secular pressure on office demand, higher interest rates, and exposure to older office or retail properties as risks to occupancy, rent growth, and property values.</li> <li>Notes that leverage remains elevated and that refinancing costs, required ESG upgrades, and ongoing capital expenditure could weigh on margins and earnings stability.</li> <li>Argues that high office exposure, limited sector diversification, and a low share price relative to asset values may restrict growth options and keep earnings volatility elevated.</li> </ul> If you want to see how your own expectations compare with these, you can review the full narrative set and stress test the assumptions on revenue, margins, leverage, and office exposure using the Community tools for Global Net Lease, then decide which story comes closest to your view of the stock. To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for Global Net Lease on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves. Do you think there's more to the story for Global Net Lease? Head over to our Community to see what others are saying! <figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/a416dcf6-a7d5-4432-ab49-28063f434e7a/chart/quote-price/query-ZGF0ZT0yMDI2LTA1LTE1?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/a416dcf6-a7d5-4432-ab49-28063f434e7a/chart/quote-price/query-ZGF0ZT0yMDI2LTA1LTE1"/><figcaption>NYSE:GNL 1-Year Stock Price Chart</figcaption></figure> This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.<div><h3>New: Manage All Your Stock Portfolios in One Place</h3>We've created the ultimate portfolio companion for stock investors, and it's free.• Connect an unlimited number of Portfolios and see your total in one currency • Be alerted to new Warning Signs or Risks via email or mobile • Track the Fair Value of your stocks Try a Demo Portfolio for Free</div></div></div>

Global Net Lease (GNL) shares have risen 26.3% over the past year, currently priced at $9.20. A Discounted Cash Flow analysis suggests the stock is undervalued by 44.9%, with an estimated intrinsic value of $16.71 per share. Additionally, GNL's price-to-sales ratio of 4.13x is below the industry average of 6.95x, indicating it is inexpensive based on sales metrics. Investors are encouraged to consider these valuation insights when evaluating GNL's potential.

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GLOBAL NET LEASE INC 7.25% CUM RED PFRD STOCK SER A USD25

GLOBAL NET LEASE INC 7.375% CUM RED PER PFRD STOCK SER E

GLOBAL NET LEASE INC 7.50% CUM RED PER PFRD STOCK SER D

GLOBAL NET LEASE INC 6.875% CUM RED PER PFD SHS SER B USD25.0

Is Global Net Lease (GNL) Offering Value After A 26% One Year Share Price Rise