Overview Dividends

(GLAD) Gladstone Capital - Ratings and Ratios

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

Debt, Equity, Mezzanine

Asset Management & Custody Banks
Market Cap in USD: 454m

IPO / Inception: 2002-08-02
Return 12m vs S&P 500: -33.1%

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	9.86%
Yield on Cost 5y	17.96%
Yield CAGR 5y	39.86%
Payout Consistency	94.5%
Payout Ratio	27.2%

Risk via 5d forecast
Volatility	21.0%
Value at Risk 5%th	36.1%
Relative Tail Risk	4.57%

Reward TTM
Sharpe Ratio	-0.90
Alpha	-32.49
CAGR/Max DD	0.35

Character TTM
Hurst Exponent	0.452
Beta	0.738
Beta Downside	0.890

Drawdowns 3y
Max DD	33.56%
Mean DD	8.14%
Median DD	6.71%

Description: GLAD Gladstone Capital December 26, 2025

Gladstone Capital Corporation (NASDAQ:GLAD) is a Business Development Company (BDC) that focuses on providing growth-capital and credit solutions to lower-middle-market U.S. companies, typically with $20 M–$150 M in revenue and $3 M–$25 M EBITDA.

The firm deploys a broad suite of financing structures-including senior term loans, unitranche, mezzanine, and equity-linked instruments-ranging from $8 M to $40 M per transaction, and it often takes minority equity positions to support add-on acquisitions and “buy-and-build” strategies.

Gladstone’s target industries are sector-agnostic but concentrate 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.

From a market perspective, GLAD’s dividend yield (≈ 7.5% as of Q3 2025) and its net asset value (≈ $1.1 B) make it a relatively high-yielding BDC, while the firm’s performance is sensitive to credit-spread dynamics and the overall health of the U.S. lower-middle-market M&A environment.

Key economic drivers include the Federal Reserve’s policy stance-higher rates can compress loan pricing but also increase demand for refinancing-and the ongoing consolidation trend in fragmented industrial and service sectors, which fuels “buy-and-build” opportunities.

For a deeper quantitative view, you may want to explore GLAD’s metrics on ValueRay.

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) 47.42

1. Piotroski 1.0pt

2. FCF Yield -1.68%

3. FCF Margin -17.71%

4. Debt/Equity 0.83

5. Debt/Ebitda 6.29

6. ROIC - WACC (= 0.56)%

7. RoE 11.91%

8. Rev. Trend 42.04%

9. EPS Trend 87.59%

What is the price of GLAD shares?

As of January 01, 2026, the stock is trading at USD 20.63 with a total of 181,189 shares traded.
Over the past week, the price has changed by +2.69%, over one month by -0.43%, over three months by -3.19% and over the past year by -20.90%.

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	24.5	18.5%

GLAD Fundamental Data Overview December 25, 2025

Market Cap USD = 453.9m (453.9m USD * 1.0 USD.USD)
P/E Trailing = 7.8784
P/E Forward = 10.9529
P/S = 5.093
P/B = 0.9552
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 = 819.4m USD (453.9m + Debt 397.9m - CCE 32.4m)
Interest Coverage Ratio = 2.91 (Ebit TTM 58.1m / Interest Expense TTM 20.0m)
FCF Yield = -1.68% (FCF TTM -13.8m / Enterprise Value 819.4m)
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 = 0.90 (Enterprise Value 819.4m / 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 = 5.19% (E(453.9m)/V(851.8m) * Re(8.74%) + D(397.9m)/V(851.8m) * Rd(1.45%) * (1-Tc(0.21)))
Discount Rate = 8.74% (= 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