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Side-by-side financial comparison of Global Net Lease, Inc. (GNL) and Globalstar, Inc. (GSAT). Click either name above to swap in a different company.
Global Net Lease, Inc. is the larger business by last-quarter revenue ($117.0M vs $72.0M, roughly 1.6× Globalstar, Inc.). Global Net Lease, Inc. runs the higher net margin — 41.2% vs -16.1%, a 57.3% gap on every dollar of revenue. On growth, Globalstar, Inc. posted the faster year-over-year revenue change (17.6% vs -15.1%). Over the past eight quarters, Globalstar, Inc.'s revenue compounded faster (12.9% CAGR vs -11.1%).
Global Net Lease, Inc. is a publicly traded real estate investment trust that acquires, owns and manages a diversified portfolio of commercial real estate assets under long-term net lease contracts. Its property portfolio spans North America and Europe, covering industrial, office, retail and other key sectors, serving tenants across multiple industries to deliver consistent long-term returns for shareholders.
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.
GNL vs GSAT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $117.0M | $72.0M |
| Net Profit | $48.2M | $-11.6M |
| Gross Margin | — | — |
| Operating Margin | 94.7% | -0.5% |
| Net Margin | 41.2% | -16.1% |
| Revenue YoY | -15.1% | 17.6% |
| Net Profit YoY | 838.7% | 76.9% |
| EPS (diluted) | $0.14 | $-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.
| Q4 25 | $117.0M | $72.0M | ||
| Q3 25 | $121.0M | $73.8M | ||
| Q2 25 | $124.9M | $67.1M | ||
| Q1 25 | $132.4M | $60.0M | ||
| Q4 24 | $137.8M | $61.2M | ||
| Q3 24 | $138.7M | $72.3M | ||
| Q2 24 | $145.5M | $60.4M | ||
| Q1 24 | $147.9M | $56.5M |
| Q4 25 | $48.2M | $-11.6M | ||
| Q3 25 | $-60.1M | $1.1M | ||
| Q2 25 | $-24.1M | $19.2M | ||
| Q1 25 | $-189.4M | $-17.3M | ||
| Q4 24 | $-6.5M | $-50.2M | ||
| Q3 24 | $-65.6M | $9.9M | ||
| Q2 24 | $-35.7M | $-9.7M | ||
| Q1 24 | $-23.8M | $-13.2M |
| Q4 25 | 94.7% | -0.5% | ||
| Q3 25 | -11.7% | 13.8% | ||
| Q2 25 | 33.9% | 9.2% | ||
| Q1 25 | -21.1% | -14.2% | ||
| Q4 24 | 40.8% | -6.9% | ||
| Q3 24 | 9.3% | 13.0% | ||
| Q2 24 | 42.6% | -2.4% | ||
| Q1 24 | 38.6% | -8.3% |
| Q4 25 | 41.2% | -16.1% | ||
| Q3 25 | -49.7% | 1.5% | ||
| Q2 25 | -19.3% | 28.6% | ||
| Q1 25 | -143.0% | -28.9% | ||
| Q4 24 | -4.7% | -82.1% | ||
| Q3 24 | -47.3% | 13.7% | ||
| Q2 24 | -24.5% | -16.0% | ||
| Q1 24 | -16.1% | -23.4% |
| Q4 25 | $0.14 | $-0.11 | ||
| Q3 25 | $-0.32 | $-0.01 | ||
| Q2 25 | $-0.16 | $0.13 | ||
| Q1 25 | $-0.87 | $-0.16 | ||
| Q4 24 | $-0.08 | $-0.57 | ||
| Q3 24 | $-0.33 | $0.00 | ||
| Q2 24 | $-0.20 | $-0.01 | ||
| Q1 24 | $-0.15 | $-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 | $180.1M | $447.5M |
| Total DebtLower is stronger | — | $483.8M |
| Stockholders' EquityBook value | $1.7B | $355.7M |
| Total Assets | $4.3B | $2.3B |
| Debt / EquityLower = less leverage | — | 1.36× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $180.1M | $447.5M | ||
| Q3 25 | $165.1M | $346.3M | ||
| Q2 25 | $144.8M | $308.2M | ||
| Q1 25 | $147.0M | $241.4M | ||
| Q4 24 | $159.7M | $391.2M | ||
| Q3 24 | $127.2M | $51.9M | ||
| Q2 24 | $122.2M | $64.3M | ||
| Q1 24 | $131.9M | $59.3M |
| Q4 25 | — | $483.8M | ||
| Q3 25 | — | $508.6M | ||
| Q2 25 | — | $491.5M | ||
| Q1 25 | — | $502.7M | ||
| Q4 24 | — | $511.4M | ||
| Q3 24 | — | $394.4M | ||
| Q2 24 | — | $393.1M | ||
| Q1 24 | — | $398.7M |
| Q4 25 | $1.7B | $355.7M | ||
| Q3 25 | $1.7B | $364.8M | ||
| Q2 25 | $1.8B | $360.9M | ||
| Q1 25 | $1.9B | $344.3M | ||
| Q4 24 | $2.2B | $358.9M | ||
| Q3 24 | $2.3B | $394.1M | ||
| Q2 24 | $2.4B | $383.0M | ||
| Q1 24 | $2.5B | $377.1M |
| Q4 25 | $4.3B | $2.3B | ||
| Q3 25 | $4.8B | $2.2B | ||
| Q2 25 | $5.0B | $1.9B | ||
| Q1 25 | $5.8B | $1.7B | ||
| Q4 24 | $7.0B | $1.7B | ||
| Q3 24 | $7.3B | $917.6M | ||
| Q2 24 | $7.6B | $926.2M | ||
| Q1 24 | $8.0B | $917.0M |
| Q4 25 | — | 1.36× | ||
| Q3 25 | — | 1.39× | ||
| Q2 25 | — | 1.36× | ||
| Q1 25 | — | 1.46× | ||
| Q4 24 | — | 1.43× | ||
| Q3 24 | — | 1.00× | ||
| Q2 24 | — | 1.03× | ||
| Q1 24 | — | 1.06× |
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 | $222.8M | $175.9M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 4.62× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $222.8M | $175.9M | ||
| Q3 25 | $56.0M | $236.0M | ||
| Q2 25 | $52.0M | $157.9M | ||
| Q1 25 | $59.2M | $51.9M | ||
| Q4 24 | $299.5M | $340.7M | ||
| Q3 24 | $62.1M | $32.0M | ||
| Q2 24 | $70.4M | $36.7M | ||
| Q1 24 | $92.2M | $29.8M |
| Q4 25 | 4.62× | — | ||
| Q3 25 | — | 216.53× | ||
| Q2 25 | — | 8.22× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.23× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GNL
| Industrial And Distribution Segment | $56.0M | 48% |
| Office Segment | $30.8M | 26% |
| Single Tenant Retail Segment | $30.2M | 26% |
GSAT
| Services | $67.4M | 94% |
| Products | $4.6M | 6% |
