GOOD Stock Analysis: Gladstone Commercial | NASDAQ
REIT - Diversified | NASDAQ, USA | Market Cap: 635m USD | 12M Return: 8% | US3765361080 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 5.11M
Qual. Beats: 0
Rev. Trend: 89.2%
Qual. Beats: 1
Warnings
Tailwinds
Seasonality 11.6 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 real estate investment trust (REIT) that acquires, owns, and operates net leased industrial and office properties throughout the United States. As of March 31, 2026, the companys portfolio comprised 151 properties across 27 states, totaling approximately 17.7 million square feet. Gladstone Commercial was established on February 14, 2003, is incorporated in Maryland, and is headquartered in McLean, Virginia.
The net leased structure typically requires tenants to pay most operating expenses-such as property taxes, insurance, and maintenance-in addition to base rent, which results in more predictable landlord cash flows. As a REIT, Gladstone Commercial is generally required to distribute at least 90% of its taxable income to shareholders in the form of dividends to maintain its pass-through tax status. The company is classified within the Diversified REITs sub-industry and operates as a small-cap stock with a market capitalization of approximately $591 million.
- Net leased industrial portfolio occupancy drives rental income growth
- Rising interest rates pressure borrowing costs and FFO coverage
- Office segment tenant credit quality weighs on lease renewals
| Net Income: 24.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA -1.79 > 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 (47.2m) vs 12m ago 2.16% < -2% |
| Gross Margin: 10.66% > 18% (prev 77.77%; Δ -67.12% > 0.5%) |
| Asset Turnover: 13.88% > 50% (prev 12.70%; Δ 1.18% > 0%) |
| Interest Coverage Ratio: 0.20 > 6 (EBIT TTM 9.21m / 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 9.21m / Avg Total Assets 1.23b) |
| D: 0.14 (Book Value of Equity 157.4m / Total Liabilities 1.09b) |
| Altman-Z'' = -1.60 = D |
| DSRI: 0.96 (Receivables 49.2m/46.4m, Revenue 170.2m/153.6m) |
| GMI: 7.30 (GM 77.77% / 10.66%) |
| 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 = 2.21 (Cap -4..+1) = D |
As of August 31, 2026, the stock is trading at USD 13.01 with a total of 299,495 shares traded. Over the past week, the price has changed by +0.77%, over one month by +4.72%, over three months by +6.35% and over the past year by +8.03%.
Current recommended Stop Loss: 12.60 (which is 3.2% or 1.7 ATR below the current price).
Gladstone Commercial has received a consensus analysts rating of 3.60. Therefore, it is recommended to hold GOOD.
- StrongBuy: 1
- Buy: 1
- Hold: 3
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 14.1 | 8.6% |
P/E Trailing = 52.04
P/E Forward = 59.1716
P/S = 3.7322
P/B = 3.9926
P/EG = 39.8394
Revenue TTM = 170.2m USD
EBIT TTM = 9.21m 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 = 1.49b USD (635.2m + Debt 865.4m - CCE 10.4m)
Interest Coverage Ratio = 0.20 (Ebit TTM 9.21m / Interest Expense TTM 45.5m)
EV/FCF = 29.97x (Enterprise Value 1.49b / FCF TTM 49.7m)
FCF Yield = 3.34% (FCF TTM 49.7m / Enterprise Value 1.49b)
FCF Margin = 29.21% (FCF TTM 49.7m / Revenue TTM 170.2m)
Net Margin = 14.55% (Net Income TTM 24.8m / Revenue TTM 170.2m)
Gross Margin = 10.66% ((Revenue TTM 170.2m - Cost of Revenue TTM 152.1m) / Revenue TTM)
Gross Margin QoQ = 79.76% (prev 79.07%)
Tobins Q-Ratio = 1.20 (Enterprise Value 1.49b / Total Assets 1.24b)
Interest Expense / Debt = 5.26% (Interest Expense 45.5m / Debt 865.4m)
Taxrate = 0.97% (81.0k / 8.35m)
NOPAT = 9.12m (EBIT 9.21m * (1 - 0.97%))
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 = 17.20 (Net Debt 855.0m / FCF TTM 49.7m)
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 = 0.91% (EBIT 9.21m / Capital Employed (Equity 211.9m + L.T.Debt 800.5m))
RoIC = 0.74% (NOPAT 9.12m / Invested Capital 1.24b)
WACC = 5.92% (E(635.2m)/V(1.50b) * Re(6.88%) + D(865.4m)/V(1.50b) * Rd(5.26%) * (1-Tc(0.01)))
Discount Rate = 6.88% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 94.89 | Cagr: 7.65%
[DCF] Terminal Value 73.10% ; FCFF base≈57.8m ; Y1≈50.7m ; Y5≈41.0m
[DCF] Fair Price = N/A (negative equity: EV 657.7m - Net Debt 855.0m = -197.3m; 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=-25% | 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=+0% | GrowthEPS=-36.1% | GrowthRev=+3.0%
[Analyst] Revisions Ratio: -17% (up=1, down=2)