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Global Net LeaseGNL -3.06%63 ROC (Joel Greenblatt) % is 196.25% as of Mar. 2026, which is 43% above its 10-year median of 137.35. GuruFocus rates GNL with a GF Score™ of 63/100 and a GF Value™ of $6.32 (Significantly Overvalued). The stock has 10 warning signs investors should review. Among 583 REITs companies, Global Net Lease ranks worse than 58.32% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Global Net Lease's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 196.25%.
The historical rank and industry rank for Global Net Lease's ROC (Joel Greenblatt) % or its related term are showing as below:
GNL'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -29.16 Med: 137.35 Max: 236.36
Current: 86.71
During the past 13 years, Global Net Lease's highest ROC (Joel Greenblatt) % was 236.36%. The lowest was -29.16%. And the median was 137.35%.
GNL's ROC (Joel Greenblatt) % is ranked worse than 58.32% of 583
companies
in the REITs industry
Industry Median: 179.69
vs GNL: 86.71
Global Net Lease's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Global Net Lease (NYSE:GNL) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Global Net Lease ROC (Joel Greenblatt) % Related Terms
Global Net Lease ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Global Net Lease's ROC (Joel Greenblatt) % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
GNL vs AAT, SAFE, ESRT: ROC (Joel Greenblatt) % Comparison
For the REIT - Diversified subindustry, Global Net Lease's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Global Net Lease ROC (Joel Greenblatt) % vs REITs Industry
For the REITs industry and Real Estate sector, Global Net Lease's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Global Net Lease's ROC (Joel Greenblatt) % falls into.
Global Net Lease ROC (Joel Greenblatt) % Calculation
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a ROC (Joel Greenblatt) % of 196.25% mean?
Global Net Lease (GNL) has a ROC (Joel Greenblatt) % of 196.25% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Global Net Lease and its competitors. This is 43% above median its historical median of 137.35. According to the industry distribution chart, Global Net Lease ranks #340 out of 583 companies in the REITs industry, placing it in the top 58.3%.
Is Global Net Lease's ROC (Joel Greenblatt) % too high?
Global Net Lease's current ROC (Joel Greenblatt) % of 196.25% is 43% above median its 10-year median of 137.35. The REITs industry median ROC (Joel Greenblatt) % is 179.69. Global Net Lease's value of 196.25% is 9.2% above this industry median. Based on the distribution chart, Global Net Lease ranks #340 out of 583 companies in the REITs industry, which is below the industry midpoint. Overall, Global Net Lease has a GF Score™ of 63/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Global Net Lease's ROC (Joel Greenblatt) % compare to AAT and SAFE?
According to the REITs industry distribution chart, Global Net Lease ranks #340 out of 583 companies for ROC (Joel Greenblatt) %. This places Global Net Lease in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 179.69. Global Net Lease's value of 196.25% is 9.2% above this benchmark. While the company's 10-year median is 137.35 vs. the industry median of 179.69, Global Net Lease has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for a REITs company?
The median ROC (Joel Greenblatt) % among REITs companies is 179.69, based on 583 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Global Net Lease's current ROC (Joel Greenblatt) % of 196.25% is 9.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Global Net Lease and its competitors. For the REITs industry, the median ROC (Joel Greenblatt) % is 179.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Global Net Lease's current ROC (Joel Greenblatt) % is 196.25%, which is 43% above median its own 10-year median of 137.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Global Net Lease stock overvalued right now?
Based on GuruFocus' analysis, Global Net Lease (GNL) is currently considered Significantly Overvalued. The stock's GF Value™ is $6.32, compared to a current price of $8.88 — trading 40.5% above its estimated fair value. The current ROC (Joel Greenblatt) % is 196.25%, which is 43% above median its 10-year median of 137.35 and 9.2% above the REITs industry median of 179.69. Global Net Lease's overall GF Score™ is 63/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Global Net Lease (GNL), the current ROC (Joel Greenblatt) % is 196.25% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Global Net Lease (GNL) Overvalued in 2026?
Based on GuruFocus' analysis, Global Net Lease stock appears to be overvalued.
The current stock price of $8.88 is trading 40.5% above its estimated GF Value™ of $6.32.
GuruFocus considers Global Net Lease to be Significantly Overvalued.
Key valuation signals for GNL:
ROC (Joel Greenblatt) %: 196.25% (43% above median its 10-year median of 137.35)
GF Value™: $6.32 vs. price of $8.88 (40.5% above fair value)
Industry Position: 9.2% above the REITs median (#340 of 583)
No single metric tells the full story. See the GNL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Global Net Lease Inc is a real estate investment trust that manages a globally diversified portfolio of commercial real estate properties. The company is engaged in the ownership, management, operation, lease, acquisition, investment, and sale of the portfolio assets. Its segments include Industrial & Distribution, Retail, and Office. The company derives maximum revenue from the Industrial and Distribution segment. The company geographically operates in the United States, the United Kingdom, Canada, and Europe.
63GF Score
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