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GLAD

Gladstone CapitalNasdaqGS:GLAD Stock Report

Last Price

US$11.28

Market Cap

US$387.0m

7D

0.2%

1Y

21.8%

Updated

16 Jan, 2022

Data

Company Financials +
GLAD fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance3/6
Financial Health2/6
Dividends3/6

GLAD Stock Overview

Gladstone Capital Corporation is a business development company specializing in lower middle market, growth capital, add on acquisitions, change of control, buy & build strategies, debt refinancing, debt investments in senior term loans, revolving loans, secured first and second lien term loans, senior subordinated loans, unitranche loans, junior subordinated loans, and mezzanine loans and equity investments in the form of common stock, preferred stock, limited liability company interests, or warrants.

Gladstone Capital Competitors

Ares Capital

NasdaqGS:ARCC

US$9.9b

Prospect Capital

NasdaqGS:PSEC

US$3.4b

Golub Capital BDC

NasdaqGS:GBDC

US$2.6b

Hercules Capital

NYSE:HTGC

US$2.0b

Price History & Performance

Summary of all time highs, changes and price drops for Gladstone Capital
Historical stock prices
Current Share PriceUS$11.28
52 Week HighUS$12.58
52 Week LowUS$9.02
Beta1.37
1 Month Change0.44%
3 Month Change-3.01%
1 Year Change21.81%
3 Year Change30.86%
5 Year Change18.74%
Change since IPO-32.82%

Recent News & Updates

Nov 06

Gladstone Capital Corporation: An Average BDC From A Strong Operator

Gladstone Capital Corporation is an established BDC which targets the lower middle market. Accelerating inflation and rising interest rates may benefit Gladstone in the near future. Gladstone’s external management is a drag on long term performance, leading to lackluster long term results.

Jun 05

6.7% Yield: Why Gladstone Capital Is A Buy At The Right Price

Gladstone Capital has seen a strong rebound in its book value over the past 12 months. Management has transitioned GLAD's portfolio towards safer first-lien debt, and maintains plenty of dry powder for new investments. I also highlight the valuation, dividend, balance sheet, and make a recommendation.

Feb 03

Gladstone Capital NII in-line, beats on total investment income

Gladstone Capital (GLAD): FQ1 NII of $0.195 in-line.Total investment income of $12.88M (+5.9% Y/Y) beats by $0.03M.Press Release

Jan 12

Gladstone Capital declares $0.065 dividend

Gladstone Capital (GLAD) declares $0.065/share monthly dividend, in line with previous.Forward yield 8.63%Payable Jan. 29; for shareholders of record Jan. 22; ex-div Jan. 21.Payable Feb. 26; for shareholders of record Feb. 17; ex-div Feb. 16.Payable Mar. 31; for shareholders of record Mar. 18; ex-div Mar. 17.See GLAD Dividend Scorecard, Yield Chart, & Dividend Growth.

Shareholder Returns

GLADUS Capital MarketsUS Market
7D0.2%-1.6%-0.5%
1Y21.8%30.2%13.7%

Return vs Industry: GLAD underperformed the US Capital Markets industry which returned 30.2% over the past year.

Return vs Market: GLAD exceeded the US Market which returned 13.7% over the past year.

Price Volatility

Is GLAD's price volatile compared to industry and market?
GLAD volatility
GLAD Average Weekly Movement3.0%
Capital Markets Industry Average Movement0.7%
Market Average Movement6.6%
10% most volatile stocks in US Market15.9%
10% least volatile stocks in US Market2.4%

Stable Share Price: GLAD is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: GLAD's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2001n/aDavid Gladstonehttps://www.gladstonecapital.com

Gladstone Capital Corporation is a business development company specializing in lower middle market, growth capital, add on acquisitions, change of control, buy & build strategies, debt refinancing, debt investments in senior term loans, revolving loans, secured first and second lien term loans, senior subordinated loans, unitranche loans, junior subordinated loans, and mezzanine loans and equity investments in the form of common stock, preferred stock, limited liability company interests, or warrants. It operates as a business development company. The fund also makes private equity investments in acquisitions, buyouts and recapitalizations, and refinancing existing debts.

Gladstone Capital Fundamentals Summary

How do Gladstone Capital's earnings and revenue compare to its market cap?
GLAD fundamental statistics
Market CapUS$386.95m
Earnings (TTM)US$84.30m
Revenue (TTM)US$53.79m

4.6x

P/E Ratio

7.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
GLAD income statement (TTM)
RevenueUS$53.79m
Cost of RevenueUS$0
Gross ProfitUS$53.79m
Expenses-US$30.50m
EarningsUS$84.30m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

Feb 02, 2022

Earnings per share (EPS)2.46
Gross Margin100.00%
Net Profit Margin156.71%
Debt/Equity Ratio74.5%

How did GLAD perform over the long term?

See historical performance and comparison

Dividends

6.9%

Current Dividend Yield

31%

Payout Ratio

Does GLAD pay a reliable dividends?

See GLAD dividend history and benchmarks
When do you need to buy GLAD by to receive an upcoming dividend?
Gladstone Capital dividend dates
Ex Dividend DateJan 20 2022
Dividend Pay DateJan 31 2022
Days until Ex dividend3 days
Days until Dividend pay date14 days

Does GLAD pay a reliable dividends?

See GLAD dividend history and benchmarks

Valuation

Is Gladstone Capital undervalued compared to its fair value and its price relative to the market?

4.59x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: GLAD ($11.28) is trading above our estimate of fair value ($3.07)

Significantly Below Fair Value: GLAD is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: GLAD is good value based on its PE Ratio (4.6x) compared to the US Capital Markets industry average (15.9x).

PE vs Market: GLAD is good value based on its PE Ratio (4.6x) compared to the US market (17.4x).


Price to Earnings Growth Ratio

PEG Ratio: GLAD's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: GLAD is good value based on its PB Ratio (1.2x) compared to the US Capital Markets industry average (42.4x).

Future Growth

How is Gladstone Capital forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

-70.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: GLAD's earnings are forecast to decline over the next 3 years (-70.1% per year).

Earnings vs Market: GLAD's earnings are forecast to decline over the next 3 years (-70.1% per year).

High Growth Earnings: GLAD's earnings are forecast to decline over the next 3 years.

Revenue vs Market: GLAD's revenue (7.1% per year) is forecast to grow slower than the US market (9.3% per year).

High Growth Revenue: GLAD's revenue (7.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: GLAD's Return on Equity is forecast to be low in 3 years time (8.7%).

Past Performance

How has Gladstone Capital performed over the past 5 years?

14.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: GLAD has a large one-off gain of $59.5M impacting its September 30 2021 financial results.

Growing Profit Margin: GLAD became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: GLAD's earnings have grown by 14.6% per year over the past 5 years.

Accelerating Growth: GLAD has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: GLAD has become profitable in the last year, making it difficult to compare its past year earnings growth to the Capital Markets industry (86.4%).


Return on Equity

High ROE: GLAD's Return on Equity (26.5%) is considered high.

Financial Health

How is Gladstone Capital's financial position?


Financial Position Analysis

Short Term Liabilities: GLAD's short term assets ($6.9M) exceed its short term liabilities ($5.0M).

Long Term Liabilities: GLAD's short term assets ($6.9M) do not cover its long term liabilities ($243.1M).


Debt to Equity History and Analysis

Debt Level: GLAD's net debt to equity ratio (74.2%) is considered high.

Reducing Debt: GLAD's debt to equity ratio has increased from 64.7% to 74.5% over the past 5 years.

Debt Coverage: GLAD's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: GLAD's interest payments on its debt are well covered by EBIT (3x coverage).


Balance Sheet

Dividend

What is Gladstone Capital current dividend yield, its reliability and sustainability?

6.91%

Current Dividend Yield


Upcoming Dividend Payment

TodayJan 17 2022Ex Dividend DateJan 20 2022Dividend Pay DateJan 31 202211 days from Ex DividendBuy in the next 3 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: GLAD's dividend (6.91%) is higher than the bottom 25% of dividend payers in the US market (1.32%).

High Dividend: GLAD's dividend (6.91%) is in the top 25% of dividend payers in the US market (3.44%)


Stability and Growth of Payments

Stable Dividend: GLAD's dividend payments have been volatile in the past 10 years.

Growing Dividend: GLAD's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (30.8%), GLAD's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: GLAD's dividends in 3 years are not forecast to be well covered by earnings (97.5% payout ratio).

Management

How experienced are the management team and are they aligned to shareholders interests?

12.3yrs

Average management tenure


CEO

David Gladstone (79 yo)

20.67yrs

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. Mr. Glads...


Leadership Team

Experienced Management: GLAD's management team is seasoned and experienced (12.3 years average tenure).


Board Members

Experienced Board: GLAD's board of directors are seasoned and experienced ( 19 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.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 5.7%.


Top Shareholders

Company Information

Gladstone Capital Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Gladstone Capital Corporation
  • Ticker: GLAD
  • Exchange: NasdaqGS
  • Founded: 2001
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Implied Market Cap: US$386.953m
  • Shares outstanding: 34.30m
  • Website: https://www.gladstonecapital.com

Location

  • Gladstone Capital Corporation
  • 1521 Westbranch Drive
  • Suite 100
  • McLean
  • Virginia
  • 22102
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/16 23:11
End of Day Share Price2022/01/14 00:00
Earnings2021/09/30
Annual Earnings2021/09/30


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.