GOOD Stock Analysis: Gladstone Commercial | NASDAQ
REIT - Diversified | NASDAQ, USA | Market Cap: 626m USD | 12M Return: 20.4% | US3765361080 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 5.61M
Qual. Beats: 0
Rev. Trend: 89.2%
Qual. Beats: 1
Warnings
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Gladstone Commercial Corporation (NASDAQ: GOOD) is a Maryland-incorporated real estate investment trust (REIT) headquartered in McLean, Virginia, that acquires, owns, and operates net leased industrial and office properties across the United States. Founded on February 14, 2003, the company held a portfolio of 151 properties spanning 27 states and totaling approximately 17.7 million square feet as of March 31, 2026. Classified within the Diversified REITs sub-industry, Gladstone Commercial is a small-cap company with a market capitalization of roughly $624 million.
As a net lease REIT, Gladstone Commercials business model typically involves long-term lease agreements where tenants are responsible for most property operating expenses, such as real estate taxes, insurance, and maintenance, providing the landlord with more predictable rental income. Like other U.S. REITs, the company is generally required to distribute at least 90% of its taxable income to shareholders in the form of dividends in order to maintain its tax-advantaged status.
- Industrial net lease portfolio occupancy and rental escalators drive revenue
- Office segment exposure pressures same-store NOI growth
- Rising interest rates increase borrowing costs and cap rate uncertainty
| Net Income: 24.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA -1.30 > 1.0 |
| NWC/Revenue: 1.21% < 20% (prev -73.89%; Δ 75.09% < -1%) |
| CFO/TA 0.06 > 3% & CFO 70.1m > Net Income 24.8m |
| Net Debt (855.0m) to EBITDA (69.7m): 12.27 < 3 |
| Current Ratio: 1.13 > 1.5 & < 3 |
| Outstanding Shares: last quarter (48.4m) vs 12m ago 4.73% < -2% |
| Gross Margin: 10.32% > 18% (prev 77.77%; Δ -67.45% > 0.5%) |
| Asset Turnover: 13.88% > 50% (prev 12.70%; Δ 1.18% > 0%) |
| Interest Coverage Ratio: 0.20 > 6 (EBIT TTM 9.13m / Interest Expense TTM 45.5m) |
| A: 0.00 (Total Current Assets 18.1m - Total Current Liabilities 16.0m) / Total Assets 1.24b |
| B: -0.56 (Retained Earnings -693.3m / Total Assets 1.24b) |
| C: 0.01 (EBIT TTM 9.13m / Avg Total Assets 1.23b) |
| D: 0.14 (Book Value of Equity 157.4m / Total Liabilities 1.09b) |
| Altman-Z'' = -1.61 = D |
| DSRI: 0.96 (Receivables 49.2m/46.4m, Revenue 170.2m/153.6m) |
| GMI: 7.54 (GM 77.77% / 10.32%) |
| AQI: 0.15 (AQ_t 0.15 / AQ_t-1 0.97) |
| SGI: 1.11 (Revenue 170.2m / 153.6m) |
| TATA: -0.04 (NI 24.8m - CFO 70.1m) / TA 1.24b) |
| Beneish M = 2.43 (Cap -4..+1) = D |
As of October 16, 2026, the stock is trading at USD 12.64 with a total of 458,874 shares traded. Over the past week, the price has changed by -0.55%, over one month by -0.38%, over three months by +1.82% and over the past year by +20.44%.
Current recommended Stop Loss: 12.20 (which is 3.5% or 2 ATR below the current price).
Gladstone Commercial has received a consensus analysts rating of 4.25. Therefore, it is recommended to buy GOOD.
- StrongBuy: 2
- Buy: 1
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 14.1 | 11.8% |
P/E Trailing = 51.28
P/E Forward = 60.9756
P/S = 3.6777
P/B = 3.928
P/EG = 39.8394
Revenue TTM = 170.2m USD
EBIT TTM = 9.13m USD
EBITDA TTM = 69.7m USD
Long Term Debt = 800.5m USD (from longTermDebt, last quarter)
Short Term Debt = 21.9m USD (from shortTermDebt, last quarter)
Debt = 865.4m USD (from shortLongTermDebtTotal, last quarter) + Leases 6.67m
Net Debt = 855.0m USD (calculated: Debt 865.4m - CCE 10.4m)
Enterprise Value = 1.48b USD (625.9m + Debt 865.4m - CCE 10.4m)
Interest Coverage Ratio = 0.20 (Ebit TTM 9.13m / Interest Expense TTM 45.5m)
EV/FCF = 26.55x (Enterprise Value 1.48b / FCF TTM 55.8m)
FCF Yield = 3.77% (FCF TTM 55.8m / Enterprise Value 1.48b)
FCF Margin = 32.77% (FCF TTM 55.8m / Revenue TTM 170.2m)
Net Margin = 14.55% (Net Income TTM 24.8m / Revenue TTM 170.2m)
Gross Margin = 10.32% ((Revenue TTM 170.2m - Cost of Revenue TTM 152.6m) / Revenue TTM)
Gross Margin QoQ = 78.46% (prev 79.07%)
Tobins Q-Ratio = 1.19 (Enterprise Value 1.48b / Total Assets 1.24b)
Interest Expense / Debt = 5.26% (Interest Expense 45.5m / Debt 865.4m)
Taxrate = 0.98% (81.0k / 8.27m)
NOPAT = 9.04m (EBIT 9.13m * (1 - 0.98%))
Current Ratio = 0.56 (Total Current Assets 18.1m / Total Current Liabilities 32.0m)
Debt / Equity = 5.50 (Debt 865.4m / totalStockholderEquity, last quarter 157.4m)
Debt / EBITDA = 12.27 (Net Debt 855.0m / EBITDA 69.7m)
Debt / FCF = 15.33 (Net Debt 855.0m / FCF TTM 55.8m)
Total Stockholder Equity = 211.9m (last 4 quarters mean from totalStockholderEquity)
RoA = 2.02% (Net Income 24.8m / Total Assets 1.24b)
RoE = 11.69% (Net Income TTM 24.8m / Total Stockholder Equity 211.9m)
RoCE = 0.90% (EBIT 9.13m / Capital Employed (Equity 211.9m + L.T.Debt 800.5m))
RoIC = 0.73% (NOPAT 9.04m / Invested Capital 1.24b)
WACC = 5.90% (E(625.9m)/V(1.49b) * Re(6.85%) + D(865.4m)/V(1.49b) * Rd(5.26%) * (1-Tc(0.01)))
Discount Rate = 6.85% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 96.96 | Cagr: 8.84%
[DCF] Terminal Value 73.10% ; FCFF base≈61.5m ; Y1≈53.9m ; Y5≈43.6m
[DCF] Fair Price = N/A (negative equity: EV 699.0m - Net Debt 855.0m = -156.0m; debt exceeds intrinsic value)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.34 | # QB: 0
Revenue Correlation: 89.21 | Revenue CAGR: 5.22% | SUE: 1.47 | # QB: 1
EPS current Quarter (2026-09-30): EPS=0.05 | Chg30d=+11.11% | Revisions=+0% | Analysts=1
EPS current Year (2026-12-31): EPS=0.25 | Chg30d=+10.28% | Revisions=+0% | GrowthEPS=+78.6% | GrowthRev=+5.9%
EPS next Year (2027-12-31): EPS=0.15 | Chg30d=-9.09% | Revisions=-25% | GrowthEPS=-36.1% | GrowthRev=+3.0%
[Analyst] Revisions Ratio: -17% (up=1, down=2)