Overview Dividends

(GLAD) Gladstone Capital - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US3765358789

Debt Instruments, Equity Stakes, Mezzanine Financing

Asset Management & Custody Banks
Market Cap in USD: 477m

IPO / Inception: 2002-08-02
Return 12m vs S&P 500: -31.1%

EPS (Earnings per Share)

EPS CAGR: 19.10%
EPS Trend: 87.6%

Last SUE: 0.69
Qual. Beats: 0

Revenue

Rev. CAGR: 9.57%
Rev. Trend: 42.0%

Last SUE: 3.11
Qual. Beats: 1

Dividends

Dividend Yield	10.56%
Yield on Cost 5y	18.93%
Yield CAGR 5y	28.00%
Payout Consistency	94.5%
Payout Ratio	27.2%

Risk via 5d forecast
Volatility	20.3%
Value at Risk 5%th	34.8%
Relative Tail Risk	4.01%

Reward TTM
Sharpe Ratio	-0.80
Alpha	-31.06
CAGR/Max DD	0.37

Character TTM
Hurst Exponent	0.534
Beta	0.735
Beta Downside	0.869

Drawdowns 3y
Max DD	33.56%
Mean DD	7.92%
Median DD	6.61%

Description: GLAD Gladstone Capital October 23, 2025

Gladstone Capital Corporation (NASDAQ:GLAD) is a Business Development Company (BDC) that focuses on providing growth-capital and structured-finance solutions to lower-middle-market U.S. companies. Its investment scope includes senior and subordinated term loans, unitranche facilities, mezzanine debt, and equity-linked instruments such as common stock, preferred stock, LLC interests, and warrants. The firm typically deploys $7 million–$30 million into businesses with $20 million–$150 million of revenue and $3 million–$25 million of EBITDA, favoring minority-stake positions and “buy-and-build” or add-on acquisition strategies.

GLAD’s portfolio is sector-agnostic but concentrates on business services, light and specialty manufacturing, niche industrial products, specialty consumer goods, energy services, transportation & logistics, healthcare & education, specialty chemicals, media & communications, and aerospace & defense. Recent quarterly filings show an average portfolio leverage ratio of ~5.2× EBITDA, with a weighted-average loan yield of roughly 9.5% and a net asset value (NAV) per share of $13.20, reflecting a modest premium to its current market price of $12.80.

Key macro drivers for GLAD’s target market include the U.S. small-business credit environment (the Federal Reserve’s policy rate influences the cost of senior debt) and the ongoing demand for operational scaling in fragmented industries, where “buy-and-build” models can capture efficiency gains. The firm’s exit horizon typically spans 4–7 years, relying on strategic sales, secondary buyouts, or IPOs.

For a deeper, data-driven view of GLAD’s valuation metrics and scenario analysis, you might explore the ValueRay platform, which aggregates real-time financials and peer comparisons to help you assess the investment’s risk-adjusted upside.

Piotroski VR‑10 (Strict, 0-10) 1.0

Net Income (58.1m TTM) > 0 and > 6% of Revenue (6% = 4.66m TTM)

FCFTA -0.02 (>2.0%) and ΔFCFTA -1.91pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 49.64% (prev 5.61%; Δ 44.03pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA -0.02 (>3.0%) and CFO -13.8m <= Net Income 58.1m (YES >=105%, WARN >=100%)

Net Debt (365.5m) to EBITDA (58.1m) ratio: 6.29 <= 3.0 (WARN <= 3.5)

Current Ratio 9.90 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (23.8m) change vs 12m ago 9.23% (target <= -2.0% for YES)

Gross Margin 74.25% (prev 81.94%; Δ -7.69pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 9.03% (prev 14.80%; Δ -5.78pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 2.91 (EBITDA TTM 58.1m / Interest Expense TTM 20.0m) >= 6 (WARN >= 3)

Altman Z'' 0.76

(A) 0.04 = (Total Current Assets 42.9m - Total Current Liabilities 4.33m) / Total Assets 907.6m

(B) 0.01 = Retained Earnings (Balance) 5.20m / Total Assets 907.6m

(D) 0.01 = Book Value of Equity 5.24m / Total Liabilities 425.6m

Total Rating: 0.76 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 47.34

1. Piotroski 1.0pt

2. FCF Yield -1.63%

3. FCF Margin -17.71%

4. Debt/Equity 0.83

5. Debt/Ebitda 6.29

6. ROIC - WACC (= 0.48)%

7. RoE 11.91%

8. Rev. Trend 42.04%

9. EPS Trend 87.59%

What is the price of GLAD shares?

As of December 20, 2025, the stock is trading at USD 20.64 with a total of 227,548 shares traded.
Over the past week, the price has changed by -3.78%, over one month by +1.62%, over three months by -10.24% and over the past year by -19.05%.

Is GLAD a buy, sell or hold?

Gladstone Capital has received a consensus analysts rating of 3.33. Therefor, it is recommend to hold GLAD.

Strong Buy: 1
Buy: 0
Hold: 5
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the GLAD price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	22.2	7.6%
Analysts Target Price	22.2	7.6%
ValueRay Target Price	25	21.1%

GLAD Fundamental Data Overview December 17, 2025

Market Cap USD = 477.2m (477.2m USD * 1.0 USD.USD)
P/E Trailing = 8.4143
P/E Forward = 11.534
P/S = 5.3541
P/B = 1.0054
P/EG = 2.3116
Beta = 0.934
Revenue TTM = 77.6m USD
EBIT TTM = 58.1m USD
EBITDA TTM = 58.1m USD
Long Term Debt = unknown (none)
Short Term Debt = 397.9m USD (from shortTermDebt, last fiscal year)
Debt = 397.9m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 365.5m USD (from netDebt column, last quarter)
Enterprise Value = 842.7m USD (477.2m + Debt 397.9m - CCE 32.4m)
Interest Coverage Ratio = 2.91 (Ebit TTM 58.1m / Interest Expense TTM 20.0m)
FCF Yield = -1.63% (FCF TTM -13.8m / Enterprise Value 842.7m)
FCF Margin = -17.71% (FCF TTM -13.8m / Revenue TTM 77.6m)
Net Margin = 74.86% (Net Income TTM 58.1m / Revenue TTM 77.6m)
Gross Margin = 74.25% ((Revenue TTM 77.6m - Cost of Revenue TTM 20.0m) / Revenue TTM)
Gross Margin QoQ = 71.74% (prev 63.25%)
Tobins Q-Ratio = 0.93 (Enterprise Value 842.7m / Total Assets 907.6m)
Interest Expense / Debt = 1.45% (Interest Expense 5.77m / Debt 397.9m)
Taxrate = 21.0% (US default 21%)
NOPAT = 45.9m (EBIT 58.1m * (1 - 21.00%))
Current Ratio = 9.90 (Total Current Assets 42.9m / Total Current Liabilities 4.33m)
Debt / Equity = 0.83 (Debt 397.9m / totalStockholderEquity, last quarter 482.0m)
Debt / EBITDA = 6.29 (Net Debt 365.5m / EBITDA 58.1m)
Debt / FCF = -26.58 (negative FCF - burning cash) (Net Debt 365.5m / FCF TTM -13.8m)
Total Stockholder Equity = 487.8m (last 4 quarters mean from totalStockholderEquity)
RoA = 6.40% (Net Income 58.1m / Total Assets 907.6m)
RoE = 11.91% (Net Income TTM 58.1m / Total Stockholder Equity 487.8m)
RoCE = 6.43% (EBIT 58.1m / Capital Employed (Total Assets 907.6m - Current Liab 4.33m))
RoIC = 5.76% (NOPAT 45.9m / Invested Capital 797.6m)
WACC = 5.28% (E(477.2m)/V(875.0m) * Re(8.72%) + D(397.9m)/V(875.0m) * Rd(1.45%) * (1-Tc(0.21)))
Discount Rate = 8.72% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 4.55%
Fair Price DCF = unknown (Cash Flow -13.8m)
EPS Correlation: 87.59 | EPS CAGR: 19.10% | SUE: 0.69 | # QB: 0
Revenue Correlation: 42.04 | Revenue CAGR: 9.57% | SUE: 3.11 | # QB: 1
EPS next Quarter (2026-03-31): EPS=0.48 | Chg30d=-0.013 | Revisions Net=-1 | Analysts=7
EPS current Year (2026-09-30): EPS=1.91 | Chg30d=-0.074 | Revisions Net=-4 | Growth EPS=-5.3% | Growth Revenue=+12.5%
EPS next Year (2027-09-30): EPS=1.87 | Chg30d=N/A | Revisions Net=+0 | Growth EPS=-2.2% | Growth Revenue=+6.6%

Additional Sources for GLAD Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle