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Side-by-side financial comparison of Global Net Lease, Inc. (GNL) and Latham Group, Inc. (SWIM). 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 $100.0M, roughly 1.2× Latham Group, Inc.). Global Net Lease, Inc. runs the higher net margin — 41.2% vs -7.0%, a 48.2% gap on every dollar of revenue. On growth, Latham Group, Inc. posted the faster year-over-year revenue change (14.5% vs -15.1%). Over the past eight quarters, Latham Group, Inc.'s revenue compounded faster (-4.9% 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.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
GNL vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $117.0M | $100.0M |
| Net Profit | $48.2M | $-7.0M |
| Gross Margin | — | 28.0% |
| Operating Margin | 94.7% | -10.7% |
| Net Margin | 41.2% | -7.0% |
| Revenue YoY | -15.1% | 14.5% |
| Net Profit YoY | 838.7% | 76.0% |
| EPS (diluted) | $0.14 | $-0.06 |
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 | $100.0M | ||
| Q3 25 | $121.0M | $161.9M | ||
| Q2 25 | $124.9M | $172.6M | ||
| Q1 25 | $132.4M | $111.4M | ||
| Q4 24 | $137.8M | $87.3M | ||
| Q3 24 | $138.7M | $150.5M | ||
| Q2 24 | $145.5M | $160.1M | ||
| Q1 24 | $147.9M | $110.6M |
| Q4 25 | $48.2M | $-7.0M | ||
| Q3 25 | $-60.1M | $8.1M | ||
| Q2 25 | $-24.1M | $16.0M | ||
| Q1 25 | $-189.4M | $-6.0M | ||
| Q4 24 | $-6.5M | $-29.2M | ||
| Q3 24 | $-65.6M | $5.9M | ||
| Q2 24 | $-35.7M | $13.3M | ||
| Q1 24 | $-23.8M | $-7.9M |
| Q4 25 | — | 28.0% | ||
| Q3 25 | — | 35.4% | ||
| Q2 25 | — | 37.1% | ||
| Q1 25 | — | 29.5% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | — | 32.4% | ||
| Q2 24 | — | 33.1% | ||
| Q1 24 | — | 27.7% |
| Q4 25 | 94.7% | -10.7% | ||
| Q3 25 | -11.7% | 13.3% | ||
| Q2 25 | 33.9% | 14.3% | ||
| Q1 25 | -21.1% | -4.4% | ||
| Q4 24 | 40.8% | -14.9% | ||
| Q3 24 | 9.3% | 8.9% | ||
| Q2 24 | 42.6% | 12.5% | ||
| Q1 24 | 38.6% | -1.9% |
| Q4 25 | 41.2% | -7.0% | ||
| Q3 25 | -49.7% | 5.0% | ||
| Q2 25 | -19.3% | 9.3% | ||
| Q1 25 | -143.0% | -5.4% | ||
| Q4 24 | -4.7% | -33.4% | ||
| Q3 24 | -47.3% | 3.9% | ||
| Q2 24 | -24.5% | 8.3% | ||
| Q1 24 | -16.1% | -7.1% |
| Q4 25 | $0.14 | $-0.06 | ||
| Q3 25 | $-0.32 | $0.07 | ||
| Q2 25 | $-0.16 | $0.13 | ||
| Q1 25 | $-0.87 | $-0.05 | ||
| Q4 24 | $-0.08 | $-0.24 | ||
| Q3 24 | $-0.33 | $0.05 | ||
| Q2 24 | $-0.20 | $0.11 | ||
| Q1 24 | $-0.15 | $-0.07 |
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 | — |
| Total DebtLower is stronger | — | $279.8M |
| Stockholders' EquityBook value | $1.7B | $405.9M |
| Total Assets | $4.3B | $823.2M |
| Debt / EquityLower = less leverage | — | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $180.1M | — | ||
| Q3 25 | $165.1M | — | ||
| Q2 25 | $144.8M | — | ||
| Q1 25 | $147.0M | — | ||
| Q4 24 | $159.7M | — | ||
| Q3 24 | $127.2M | — | ||
| Q2 24 | $122.2M | — | ||
| Q1 24 | $131.9M | — |
| Q4 25 | — | $279.8M | ||
| Q3 25 | — | $281.1M | ||
| Q2 25 | — | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | — | $281.5M | ||
| Q3 24 | — | $282.8M | ||
| Q2 24 | — | $282.4M | ||
| Q1 24 | — | $282.8M |
| Q4 25 | $1.7B | $405.9M | ||
| Q3 25 | $1.7B | $408.4M | ||
| Q2 25 | $1.8B | $398.4M | ||
| Q1 25 | $1.9B | $381.1M | ||
| Q4 24 | $2.2B | $387.2M | ||
| Q3 24 | $2.3B | $416.6M | ||
| Q2 24 | $2.4B | $408.1M | ||
| Q1 24 | $2.5B | $391.8M |
| Q4 25 | $4.3B | $823.2M | ||
| Q3 25 | $4.8B | $844.4M | ||
| Q2 25 | $5.0B | $822.1M | ||
| Q1 25 | $5.8B | $824.6M | ||
| Q4 24 | $7.0B | $794.2M | ||
| Q3 24 | $7.3B | $853.4M | ||
| Q2 24 | $7.6B | $830.0M | ||
| Q1 24 | $8.0B | $808.6M |
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.72× |
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 | — | $14.1M |
| FCF MarginFCF / Revenue | — | 14.1% |
| Capex IntensityCapex / Revenue | — | 9.2% |
| Cash ConversionOCF / Net Profit | 4.62× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $222.8M | $23.3M | ||
| Q3 25 | $56.0M | $51.0M | ||
| Q2 25 | $52.0M | $36.0M | ||
| Q1 25 | $59.2M | $-46.9M | ||
| Q4 24 | $299.5M | $6.2M | ||
| Q3 24 | $62.1M | $37.2M | ||
| Q2 24 | $70.4M | $52.4M | ||
| Q1 24 | $92.2M | $-34.5M |
| Q4 25 | — | $14.1M | ||
| Q3 25 | — | $45.2M | ||
| Q2 25 | — | $29.1M | ||
| Q1 25 | — | $-50.3M | ||
| Q4 24 | — | $-98.0K | ||
| Q3 24 | — | $33.2M | ||
| Q2 24 | — | $47.9M | ||
| Q1 24 | — | $-39.9M |
| Q4 25 | — | 14.1% | ||
| Q3 25 | — | 27.9% | ||
| Q2 25 | — | 16.8% | ||
| Q1 25 | — | -45.2% | ||
| Q4 24 | — | -0.1% | ||
| Q3 24 | — | 22.1% | ||
| Q2 24 | — | 29.9% | ||
| Q1 24 | — | -36.0% |
| Q4 25 | — | 9.2% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | — | 4.0% | ||
| Q1 25 | — | 3.1% | ||
| Q4 24 | — | 7.2% | ||
| Q3 24 | — | 2.7% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | 4.8% |
| Q4 25 | 4.62× | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 6.32× | ||
| Q2 24 | — | 3.95× | ||
| 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% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
