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Side-by-side financial comparison of Broadstone Net Lease, Inc. (BNL) and Globalstar, Inc. (GSAT). Click either name above to swap in a different company.
Broadstone Net Lease, Inc. is the larger business by last-quarter revenue ($121.4M vs $72.0M, roughly 1.7× Globalstar, Inc.). Broadstone Net Lease, Inc. runs the higher net margin — 38.2% vs -16.1%, a 54.4% gap on every dollar of revenue. On growth, Globalstar, Inc. posted the faster year-over-year revenue change (17.6% vs 11.7%). Over the past eight quarters, Globalstar, Inc.'s revenue compounded faster (12.9% CAGR vs 7.1%).
Broadstone Net Lease, Inc. is a real estate investment trust (REIT) that acquires, owns, and manages a diversified portfolio of single-tenant commercial real estate assets across the United States. Its portfolio covers key segments including industrial facilities, healthcare properties, retail locations, and office spaces, all leased to tenants under long-term net lease agreements.
Globalstar, Inc. is an American telecommunications company that operates a satellite constellation in low Earth orbit (LEO) for satellite phone, low-speed data transmission and Earth observation. The Globalstar second-generation constellation consists of 25 satellites.
BNL vs GSAT — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $121.4M | $72.0M |
| Net Profit | $46.4M | $-11.6M |
| Gross Margin | — | — |
| Operating Margin | 52.2% | -0.5% |
| Net Margin | 38.2% | -16.1% |
| Revenue YoY | 11.7% | 17.6% |
| Net Profit YoY | — | 76.9% |
| EPS (diluted) | $0.24 | $-0.11 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $121.4M | — | ||
| Q4 25 | $118.3M | $72.0M | ||
| Q3 25 | $114.2M | $73.8M | ||
| Q2 25 | $113.0M | $67.1M | ||
| Q1 25 | $108.7M | $60.0M | ||
| Q4 24 | $112.1M | $61.2M | ||
| Q3 24 | $108.4M | $72.3M | ||
| Q2 24 | $105.9M | $60.4M |
| Q1 26 | $46.4M | — | ||
| Q4 25 | $33.1M | $-11.6M | ||
| Q3 25 | $26.5M | $1.1M | ||
| Q2 25 | $20.2M | $19.2M | ||
| Q1 25 | $16.7M | $-17.3M | ||
| Q4 24 | $26.4M | $-50.2M | ||
| Q3 24 | $35.6M | $9.9M | ||
| Q2 24 | $35.3M | $-9.7M |
| Q1 26 | 52.2% | — | ||
| Q4 25 | — | -0.5% | ||
| Q3 25 | — | 13.8% | ||
| Q2 25 | — | 9.2% | ||
| Q1 25 | — | -14.2% | ||
| Q4 24 | — | -6.9% | ||
| Q3 24 | — | 13.0% | ||
| Q2 24 | — | -2.4% |
| Q1 26 | 38.2% | — | ||
| Q4 25 | 28.0% | -16.1% | ||
| Q3 25 | 23.2% | 1.5% | ||
| Q2 25 | 17.8% | 28.6% | ||
| Q1 25 | 15.4% | -28.9% | ||
| Q4 24 | 23.5% | -82.1% | ||
| Q3 24 | 32.8% | 13.7% | ||
| Q2 24 | 33.4% | -16.0% |
| Q1 26 | $0.24 | — | ||
| Q4 25 | $0.17 | $-0.11 | ||
| Q3 25 | $0.14 | $-0.01 | ||
| Q2 25 | $0.10 | $0.13 | ||
| Q1 25 | $0.09 | $-0.16 | ||
| Q4 24 | $0.13 | $-0.57 | ||
| Q3 24 | $0.19 | $0.00 | ||
| Q2 24 | $0.19 | $-0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $20.3M | $447.5M |
| Total DebtLower is stronger | — | $483.8M |
| Stockholders' EquityBook value | $3.0B | $355.7M |
| Total Assets | $5.8B | $2.3B |
| Debt / EquityLower = less leverage | — | 1.36× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $20.3M | — | ||
| Q4 25 | $30.5M | $447.5M | ||
| Q3 25 | $82.0M | $346.3M | ||
| Q2 25 | $20.8M | $308.2M | ||
| Q1 25 | $9.6M | $241.4M | ||
| Q4 24 | $14.8M | $391.2M | ||
| Q3 24 | $9.0M | $51.9M | ||
| Q2 24 | $18.3M | $64.3M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $483.8M | ||
| Q3 25 | $2.4B | $508.6M | ||
| Q2 25 | $2.1B | $491.5M | ||
| Q1 25 | $2.0B | $502.7M | ||
| Q4 24 | $1.9B | $511.4M | ||
| Q3 24 | $2.0B | $394.4M | ||
| Q2 24 | $1.9B | $393.1M |
| Q1 26 | $3.0B | — | ||
| Q4 25 | $2.9B | $355.7M | ||
| Q3 25 | $2.9B | $364.8M | ||
| Q2 25 | $2.9B | $360.9M | ||
| Q1 25 | $2.9B | $344.3M | ||
| Q4 24 | $3.0B | $358.9M | ||
| Q3 24 | $3.0B | $394.1M | ||
| Q2 24 | $3.1B | $383.0M |
| Q1 26 | $5.8B | — | ||
| Q4 25 | $5.7B | $2.3B | ||
| Q3 25 | $5.5B | $2.2B | ||
| Q2 25 | $5.3B | $1.9B | ||
| Q1 25 | $5.2B | $1.7B | ||
| Q4 24 | $5.2B | $1.7B | ||
| Q3 24 | $5.3B | $917.6M | ||
| Q2 24 | $5.3B | $926.2M |
| Q1 26 | — | — | ||
| Q4 25 | 0.87× | 1.36× | ||
| Q3 25 | 0.82× | 1.39× | ||
| Q2 25 | 0.73× | 1.36× | ||
| Q1 25 | 0.68× | 1.46× | ||
| Q4 24 | 0.64× | 1.43× | ||
| Q3 24 | 0.65× | 1.00× | ||
| Q2 24 | 0.62× | 1.03× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $175.9M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $299.5M | $175.9M | ||
| Q3 25 | $64.2M | $236.0M | ||
| Q2 25 | $79.3M | $157.9M | ||
| Q1 25 | $71.5M | $51.9M | ||
| Q4 24 | $276.3M | $340.7M | ||
| Q3 24 | $67.3M | $32.0M | ||
| Q2 24 | $74.2M | $36.7M |
| Q1 26 | — | — | ||
| Q4 25 | $269.8M | — | ||
| Q3 25 | $58.0M | — | ||
| Q2 25 | $76.7M | — | ||
| Q1 25 | $57.1M | — | ||
| Q4 24 | $259.5M | — | ||
| Q3 24 | $60.3M | — | ||
| Q2 24 | $74.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | 228.1% | — | ||
| Q3 25 | 50.8% | — | ||
| Q2 25 | 67.9% | — | ||
| Q1 25 | 52.5% | — | ||
| Q4 24 | 231.4% | — | ||
| Q3 24 | 55.6% | — | ||
| Q2 24 | 69.9% | — |
| Q1 26 | — | — | ||
| Q4 25 | 25.1% | — | ||
| Q3 25 | 5.4% | — | ||
| Q2 25 | 2.3% | — | ||
| Q1 25 | 13.2% | — | ||
| Q4 24 | 15.0% | — | ||
| Q3 24 | 6.5% | — | ||
| Q2 24 | 0.2% | — |
| Q1 26 | — | — | ||
| Q4 25 | 9.04× | — | ||
| Q3 25 | 2.43× | 216.53× | ||
| Q2 25 | 3.93× | 8.22× | ||
| Q1 25 | 4.27× | — | ||
| Q4 24 | 10.47× | — | ||
| Q3 24 | 1.89× | 3.23× | ||
| Q2 24 | 2.10× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BNL
Segment breakdown not available.
GSAT
| Services | $67.4M | 94% |
| Products | $4.6M | 6% |
