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
Price History & Performance
|Historical stock prices|
|Current Share Price||US$11.28|
|52 Week High||US$12.58|
|52 Week Low||US$9.02|
|1 Month Change||0.44%|
|3 Month Change||-3.01%|
|1 Year Change||21.81%|
|3 Year Change||30.86%|
|5 Year Change||18.74%|
|Change since IPO||-32.82%|
Recent News & Updates
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.
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.
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
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.
|GLAD||US Capital Markets||US Market|
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.
|GLAD Average Weekly Movement||3.0%|
|Capital Markets Industry Average Movement||0.7%|
|Market Average Movement||6.6%|
|10% most volatile stocks in US Market||15.9%|
|10% least volatile stocks in US Market||2.4%|
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
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
|GLAD fundamental statistics|
Is GLAD overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|GLAD income statement (TTM)|
|Cost of Revenue||US$0|
Last Reported Earnings
Sep 30, 2021
Next Earnings Date
Feb 02, 2022
|Earnings per share (EPS)||2.46|
|Net Profit Margin||156.71%|
How did GLAD perform over the long term?See historical performance and comparison
6.9%Current Dividend Yield
Does GLAD pay a reliable dividends?See GLAD dividend history and benchmarks
|Gladstone Capital dividend dates|
|Ex Dividend Date||Jan 20 2022|
|Dividend Pay Date||Jan 31 2022|
|Days until Ex dividend||3 days|
|Days until Dividend pay date||14 days|
Does GLAD pay a reliable dividends?See GLAD dividend history and benchmarks
Is Gladstone Capital undervalued compared to its fair value and its price relative to the market?
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).
How is Gladstone Capital forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
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%).
How has Gladstone Capital performed over the past 5 years?
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.
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).
What is Gladstone Capital current dividend yield, its reliability and sustainability?
Current Dividend Yield
Upcoming Dividend Payment
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).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
David Gladstone (79 yo)
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...
Experienced Management: GLAD's management team is seasoned and experienced (12.3 years average tenure).
Experienced Board: GLAD's board of directors are seasoned and experienced ( 19 years average tenure).
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.
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 5.7%.
Gladstone Capital Corporation's employee growth, exchange listings and data sources
- 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
- Gladstone Capital Corporation
- 1521 Westbranch Drive
- Suite 100
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/01/16 23:11|
|End of Day Share Price||2022/01/14 00:00|
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.