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Side-by-side financial comparison of Global Net Lease, Inc. (GNL) and Repay Holdings Corp (RPAY). 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 $78.6M, roughly 1.5× Repay Holdings Corp). Global Net Lease, Inc. runs the higher net margin — 41.2% vs -178.3%, a 219.5% gap on every dollar of revenue. On growth, Repay Holdings Corp posted the faster year-over-year revenue change (0.4% vs -15.1%). Over the past eight quarters, Repay Holdings Corp's revenue compounded faster (-1.3% 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.
Repay Holdings Corp is a leading payment technology provider delivering integrated end-to-end payment processing solutions for businesses across North America. Its offerings include credit/debit card processing, ACH transfer services, POS system integrations and digital payment tools, serving retail, healthcare, automotive and e-commerce segments to help clients streamline transaction workflows and boost operational efficiency.
GNL vs RPAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $117.0M | $78.6M |
| Net Profit | $48.2M | $-140.1M |
| Gross Margin | — | 74.2% |
| Operating Margin | 94.7% | -182.2% |
| Net Margin | 41.2% | -178.3% |
| Revenue YoY | -15.1% | 0.4% |
| Net Profit YoY | 838.7% | -3304.1% |
| EPS (diluted) | $0.14 | $-1.68 |
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 | $78.6M | ||
| Q3 25 | $121.0M | $77.7M | ||
| Q2 25 | $124.9M | $75.6M | ||
| Q1 25 | $132.4M | $77.3M | ||
| Q4 24 | $137.8M | $78.3M | ||
| Q3 24 | $138.7M | $79.1M | ||
| Q2 24 | $145.5M | $74.9M | ||
| Q1 24 | $147.9M | $80.7M |
| Q4 25 | $48.2M | $-140.1M | ||
| Q3 25 | $-60.1M | $-6.4M | ||
| Q2 25 | $-24.1M | $-102.3M | ||
| Q1 25 | $-189.4M | $-7.9M | ||
| Q4 24 | $-6.5M | $-4.1M | ||
| Q3 24 | $-65.6M | $3.2M | ||
| Q2 24 | $-35.7M | $-4.1M | ||
| Q1 24 | $-23.8M | $-5.2M |
| Q4 25 | — | 74.2% | ||
| Q3 25 | — | 74.4% | ||
| Q2 25 | — | 75.7% | ||
| Q1 25 | — | 75.9% | ||
| Q4 24 | — | 76.3% | ||
| Q3 24 | — | 77.8% | ||
| Q2 24 | — | 78.2% | ||
| Q1 24 | — | 76.2% |
| Q4 25 | 94.7% | -182.2% | ||
| Q3 25 | -11.7% | -3.9% | ||
| Q2 25 | 33.9% | -138.7% | ||
| Q1 25 | -21.1% | -4.7% | ||
| Q4 24 | 40.8% | -1.5% | ||
| Q3 24 | 9.3% | -0.9% | ||
| Q2 24 | 42.6% | -4.6% | ||
| Q1 24 | 38.6% | -3.1% |
| Q4 25 | 41.2% | -178.3% | ||
| Q3 25 | -49.7% | -8.3% | ||
| Q2 25 | -19.3% | -135.2% | ||
| Q1 25 | -143.0% | -10.3% | ||
| Q4 24 | -4.7% | -5.3% | ||
| Q3 24 | -47.3% | 4.1% | ||
| Q2 24 | -24.5% | -5.4% | ||
| Q1 24 | -16.1% | -6.5% |
| Q4 25 | $0.14 | $-1.68 | ||
| Q3 25 | $-0.32 | $-0.08 | ||
| Q2 25 | $-0.16 | $-1.15 | ||
| Q1 25 | $-0.87 | $-0.09 | ||
| Q4 24 | $-0.08 | $-0.04 | ||
| Q3 24 | $-0.33 | $0.03 | ||
| Q2 24 | $-0.20 | $-0.04 | ||
| Q1 24 | $-0.15 | $-0.06 |
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 | $115.7M |
| Total DebtLower is stronger | — | $280.1M |
| Stockholders' EquityBook value | $1.7B | $484.4M |
| Total Assets | $4.3B | $1.2B |
| Debt / EquityLower = less leverage | — | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $180.1M | $115.7M | ||
| Q3 25 | $165.1M | $95.7M | ||
| Q2 25 | $144.8M | $162.6M | ||
| Q1 25 | $147.0M | $165.5M | ||
| Q4 24 | $159.7M | $189.5M | ||
| Q3 24 | $127.2M | $168.7M | ||
| Q2 24 | $122.2M | $147.1M | ||
| Q1 24 | $131.9M | $128.3M |
| Q4 25 | — | $280.1M | ||
| Q3 25 | — | $279.5M | ||
| Q2 25 | — | $279.0M | ||
| Q1 25 | — | $497.6M | ||
| Q4 24 | — | $496.8M | ||
| Q3 24 | — | $496.2M | ||
| Q2 24 | — | $435.6M | ||
| Q1 24 | — | $434.9M |
| Q4 25 | $1.7B | $484.4M | ||
| Q3 25 | $1.7B | $616.9M | ||
| Q2 25 | $1.8B | $633.7M | ||
| Q1 25 | $1.9B | $755.7M | ||
| Q4 24 | $2.2B | $761.3M | ||
| Q3 24 | $2.3B | $754.7M | ||
| Q2 24 | $2.4B | $815.4M | ||
| Q1 24 | $2.5B | $813.8M |
| Q4 25 | $4.3B | $1.2B | ||
| Q3 25 | $4.8B | $1.3B | ||
| Q2 25 | $5.0B | $1.4B | ||
| Q1 25 | $5.8B | $1.5B | ||
| Q4 24 | $7.0B | $1.6B | ||
| Q3 24 | $7.3B | $1.6B | ||
| Q2 24 | $7.6B | $1.5B | ||
| Q1 24 | $8.0B | $1.5B |
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 0.53× |
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 | $23.3M |
| Free Cash FlowOCF − Capex | — | $23.2M |
| FCF MarginFCF / Revenue | — | 29.6% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | 4.62× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $90.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $222.8M | $23.3M | ||
| Q3 25 | $56.0M | $32.2M | ||
| Q2 25 | $52.0M | $33.1M | ||
| Q1 25 | $59.2M | $2.5M | ||
| Q4 24 | $299.5M | $34.3M | ||
| Q3 24 | $62.1M | $60.1M | ||
| Q2 24 | $70.4M | $31.0M | ||
| Q1 24 | $92.2M | $24.8M |
| Q4 25 | — | $23.2M | ||
| Q3 25 | — | $32.1M | ||
| Q2 25 | — | $33.0M | ||
| Q1 25 | — | $2.4M | ||
| Q4 24 | — | $34.0M | ||
| Q3 24 | — | $59.8M | ||
| Q2 24 | — | $30.5M | ||
| Q1 24 | — | $24.7M |
| Q4 25 | — | 29.6% | ||
| Q3 25 | — | 41.3% | ||
| Q2 25 | — | 43.6% | ||
| Q1 25 | — | 3.0% | ||
| Q4 24 | — | 43.5% | ||
| Q3 24 | — | 75.6% | ||
| Q2 24 | — | 40.7% | ||
| Q1 24 | — | 30.6% |
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 0.3% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | 4.62× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 18.52× | ||
| 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% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
