Gladstone Investment Corporation is a private equity fund specializing in lower middle market, acquisitions, mature stage, buyouts; recapitalizations; refinancing existing debt; senior debt securities such as senior loans, senior term loans, lines of credit, and senior notes; senior subordinated debt securities such as senior subordinated loans and senior subordinated notes; junior subordinated debt securities such as subordinated notes and mezzanine loans; limited liability company interests, and warrants or options. More Details
Is Gladstone Investment undervalued compared to its fair value and its price relative to the market?
40.5%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: GAIN ($11.87) is trading below our estimate of fair value ($19.95)
Significantly Below Fair Value: GAIN is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: GAIN is unprofitable, so we can't compare its PE Ratio to the US Capital Markets industry average.
PE vs Market: GAIN is unprofitable, so we can't compare its PE Ratio to the US market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate GAIN's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: GAIN is good value based on its PB Ratio (1.1x) compared to the US Capital Markets industry average (10.9x).
Future Growth
How is Gladstone Investment forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
28.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: GAIN is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2%).
Earnings vs Market: GAIN is forecast to become profitable over the next 3 years, which is considered above average market growth.
High Growth Earnings: GAIN's is expected to become profitable in the next 3 years.
Revenue vs Market: GAIN's revenue (6.7% per year) is forecast to grow slower than the US market (10.4% per year).
High Growth Revenue: GAIN's revenue (6.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if GAIN's Return on Equity is forecast to be high in 3 years time
Past Performance
How has Gladstone Investment performed over the past 5 years?
-16.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: GAIN is currently unprofitable.
Growing Profit Margin: GAIN is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: GAIN is unprofitable, and losses have increased over the past 5 years at a rate of 16.3% per year.
Accelerating Growth: Unable to compare GAIN's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: GAIN is unprofitable, making it difficult to compare its past year earnings growth to the Capital Markets industry (9.9%).
Return on Equity
High ROE: GAIN has a negative Return on Equity (-4.25%), as it is currently unprofitable.
Financial Health
How is Gladstone Investment's financial position?
Financial Position Analysis
Short Term Liabilities: GAIN's short term assets ($9.3M) do not cover its short term liabilities ($18.7M).
Long Term Liabilities: GAIN's short term assets ($9.3M) do not cover its long term liabilities ($234.2M).
Debt to Equity History and Analysis
Debt Level: GAIN's debt to equity ratio (64.5%) is considered high.
Reducing Debt: GAIN's debt to equity ratio has reduced from 82.3% to 64.5% over the past 5 years.
Debt Coverage: GAIN's operating cash flow is negative, therefore debt is not well covered.
Interest Coverage: GAIN is unprofitable, therefore interest payments are not well covered by earnings.
Balance Sheet
Dividend
What is Gladstone Investment current dividend yield, its reliability and sustainability?
7.83%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: GAIN's dividend (7.83%) is higher than the bottom 25% of dividend payers in the US market (1.35%).
High Dividend: GAIN's dividend (7.83%) is in the top 25% of dividend payers in the US market (3.72%)
Stability and Growth of Payments
Stable Dividend: GAIN's dividend payments have been volatile in the past 10 years.
Growing Dividend: GAIN's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: GAIN is paying a dividend but the company is unprofitable.
Future Payout to Shareholders
Future Dividend Coverage: GAIN's dividends in 3 years are not forecast to be well covered by earnings (111.4% payout ratio).
Management
How experienced are the management team and are they aligned to shareholders interests?
13.1yrs
Average management tenure
CEO
David Gladstone (78 yo)
16yrs
Tenure
Mr. David John Gladstone has been the Chief Executive Officer, President, Chief Investment Officer and Director of Gladstone Acquisition Corporation since January 2021 and serves as its Chairman. He is a F...
Leadership Team
Name
Position
Tenure
Compensation
Ownership
David Gladstone
Chairman & CEO
16yrs
no data
1.98% $ 7.8m
Terry Brubaker
Vice Chairman
16yrs
no data
0.049% $ 192.7k
David Dullum
President
12.83yrs
US$33.00k
0.38% $ 1.5m
Julia Ryan
CFO & Treasurer
5.58yrs
US$65.67k
0.012% $ 47.5k
Karin McLaughlin
Investor Relations Specialist
no data
no data
no data
Michael LiCalsi
General Counsel & Secretary
11.33yrs
no data
0.028% $ 108.5k
John Dellafiora
Chief Compliance Officer
13.42yrs
no data
no data
Paula Novara
Head of Resources Management
16.83yrs
no data
no data
Erika Highland
Managing Director
no data
no data
no data
Kyle Largent
Executive VP & Managing Director
no data
no data
no data
Christopher Lee
Managing Director
no data
no data
no data
Peter Roushdy
Executive VP & Managing Director
2.58yrs
no data
no data
13.1yrs
Average Tenure
72yo
Average Age
Experienced Management: GAIN's management team is seasoned and experienced (13.1 years average tenure).
Board Members
Name
Position
Tenure
Compensation
Ownership
David Gladstone
Chairman & CEO
16yrs
no data
1.98% $ 7.8m
Terry Brubaker
Vice Chairman
16yrs
no data
0.049% $ 192.7k
Walter Wilkinson
Independent Director
6.33yrs
US$42.00k
0.054% $ 211.1k
Michela English
Independent Director
15.67yrs
US$38.00k
0.0042% $ 16.5k
Anthony Parker
Independent Director
15.67yrs
US$49.50k
0.047% $ 184.0k
Paul Adelgren
Lead Independent Director
no data
US$39.00k
0.024% $ 92.9k
John Outland
Independent Director
15.67yrs
US$53.00k
0.013% $ 51.9k
Caren Merrick
Independent Director
6.25yrs
US$45.00k
0.0059% $ 23.3k
15.7yrs
Average Tenure
75yo
Average Age
Experienced Board: GAIN's board of directors are seasoned and experienced ( 15.7 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Gladstone Investment Corporation's company bio, employee growth, exchange listings and data sources
Gladstone Investment Corporation is a private equity fund specializing in lower middle market, acquisitions, mature stage, buyouts; recapitalizations; refinancing existing debt; senior debt securities such...
Company Analysis and Financial Data Status
All financial data provided by Standard & Poor's Capital IQ.
Data
Last Updated (UTC time)
Company Analysis
2021/02/26 23:50
End of Day Share Price
2021/02/26 00:00
Earnings
2020/12/31
Annual Earnings
2020/03/31
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.