NASDAQ : GAIN
Gladstone Investment Corporation — Financial statements
Financials · Asset Management · United States
Last price 15.27 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 608.08M
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Financial statements
Gladstone Investment Corporation (GAIN) reported revenue of 103.89M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 8.06M | 3.23M | 6.77M | 3.60M | 10.40M | 10.31M |
| Other Revenue | 95.83M | 95.85M | 86.89M | 83.70M | 71.14M | 62.24M |
| Revenue | 103.89M | 99.08M | 93.66M | 87.31M | 81.54M | 72.55M |
| Gross Profit | 103.89M | 99.08M | 93.66M | 87.31M | 81.54M | 72.55M |
| Selling, General & Admin | 58.35M | 61.81M | 34.47M | 39.10M | 26.86M | 40.38M |
| Operating Expenses | 58.35M | 61.81M | 34.47M | 39.10M | 26.86M | 40.38M |
| Operating Income | 45.53M | 37.27M | 59.19M | 48.20M | 54.68M | 32.18M |
| Interest Expense | -42.45M | -41.02M | -31.10M | -26.43M | -17.68M | -17.19M |
| Other Non Operating Income (Expenses) | -1.03M | -1.35M | -29.00K | 29.00K | 2.00K | |
| EBT Excluding Unusual Items | 2.06M | -5.10M | 28.09M | 21.75M | 37.03M | 14.99M |
| Gain (Loss) on Sale of Investments | 163.07M | 189.85M | 37.22M | 63.56M | -1.48M | 89.32M |
| Other Unusual Items | -2.00M | |||||
| Pretax Income | 165.13M | 184.75M | 65.32M | 85.31M | 35.55M | 102.32M |
| Net Income | 165.13M | 184.75M | 65.32M | 85.31M | 35.55M | 102.32M |
| Net Income to Common | 165.13M | 184.75M | 65.32M | 85.31M | 35.55M | 102.32M |
| Shares Outstanding (Basic) | 39.44M | 38.71M | 36.74M | 34.47M | 33.31M | 33.21M |
| Shares Outstanding (Diluted) | 39.44M | 38.71M | 36.74M | 34.47M | 33.31M | 33.21M |
| EPS (Basic) | 4.19 | 4.77 | 1.78 | 2.47 | 1.07 | 3.08 |
| EPS (Diluted) | 4.19 | 4.77 | 1.78 | 2.47 | 1.07 | 3.08 |
| Dividend Per Share | 0.96 | 0.96 | 0.96 | 0.96 | 0.93 | 0.87 |
| Gross Margin | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Operating Margin | 43.83% | 37.62% | 63.20% | 55.21% | 67.05% | 44.35% |
| Profit Margin | 158.95% | 186.47% | 69.74% | 97.71% | 43.59% | 141.02% |
| EBIT | 45.53M | 37.27M | 59.19M | 48.20M | 54.68M | 32.18M |
| EBIT Margin | 43.83% | 37.62% | 63.20% | 55.21% | 67.05% | 44.35% |
| Revenue as Reported | 103.89M | 99.08M | 93.66M | 87.31M | 81.54M | 72.55M |
Balance sheet
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.62M | 1.16M | 14.30M | 2.46M | 2.68M | 14.19M |
| Cash & Short-Term Investments | 1.62M | 1.16M | 14.30M | 2.46M | 2.68M | 14.19M |
| Accounts Receivable | 7.54M | 6.82M | 5.58M | 7.63M | 3.04M | 3.04M |
| Other Receivables | 2.99M | 2.04M | 2.89M | 3.43M | 3.90M | 6.41M |
| Receivables | 10.53M | 8.86M | 8.47M | 11.05M | 6.94M | 9.45M |
| Restricted Cash | 1.97M | 1.23M | 856.00K | 760.00K | 565.00K | 305.00K |
| Other Current Assets | 2.80M | 1.20M | 600.00K | 800.00K | 600.00K | 400.00K |
| Total Current Assets | 16.93M | 12.44M | 24.23M | 15.07M | 10.79M | 24.34M |
| Long-Term Investments | 1.28B | 1.31B | 979.32M | 920.50M | 753.54M | 714.40M |
| Long-Term Deferred Charges | 3.36M | 636.00K | 1.47M | 1.64M | 431.00K | 895.00K |
| Other Long-Term Assets | 713.00K | 518.00K | 1.39M | 862.00K | 885.00K | 778.00K |
| Total Assets | 1.30B | 1.32B | 1.01B | 938.08M | 765.64M | 740.41M |
| Accounts Payable | 2.21M | 1.25M | 1.29M | 732.00K | 786.00K | 799.00K |
| Accrued Expenses | 81.19M | 87.67M | 49.46M | 45.54M | 31.94M | 32.10M |
| Total Current Liabilities | 83.40M | 88.92M | 50.75M | 46.27M | 32.73M | 32.90M |
| Long-Term Debt | 570.84M | 564.47M | 455.71M | 398.35M | 292.61M | 261.35M |
| Other Long-Term Liabilities | 1.97M | 1.22M | 857.00K | 759.00K | 565.00K | 330.00K |
| Total Liabilities | 656.20M | 654.62M | 507.32M | 445.37M | 325.90M | 294.58M |
| Common Stock | 40.00K | 40.00K | 37.00K | 37.00K | 34.00K | 33.00K |
| Additional Paid-In Capital | 486.41M | 486.72M | 445.51M | 444.71M | 401.80M | 397.95M |
| Retained Earnings | 160.36M | 181.47M | 53.53M | 47.97M | 37.91M | 47.85M |
| Shareholders' Equity | 646.81M | 668.23M | 499.08M | 492.71M | 439.74M | 445.83M |
| Total Liabilities & Equity | 1.30B | 1.32B | 1.01B | 938.08M | 765.64M | 740.41M |
| Total Debt | 570.84M | 564.47M | 455.71M | 398.35M | 292.61M | 261.35M |
| Net Cash (Debt) | -569.21M | -563.32M | -441.41M | -395.88M | -289.92M | -247.16M |
| Net Cash Per Share | -14.43 | -14.55 | -12.02 | -11.49 | -8.70 | -7.44 |
| Filing Date Shares Outstanding | 39.82M | 39.82M | 36.84M | 36.69M | 33.59M | 33.21M |
| Total Common Shares Outstanding | 39.82M | 39.82M | 36.84M | 36.69M | 33.59M | 33.21M |
| Working Capital | -66.47M | -76.48M | -26.53M | -31.19M | -21.95M | -8.56M |
| Book Value Per Share | 16.24 | 16.78 | 13.55 | 13.43 | 13.09 | 13.43 |
| Tangible Book Value | 646.81M | 668.23M | 499.08M | 492.71M | 439.74M | 445.83M |
| Tangible Book Value Per Share | 16.24 | 16.78 | 13.55 | 13.43 | 13.09 | 13.43 |
Cash flow statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 165.13M | 184.75M | 65.32M | 85.31M | 35.55M | 102.32M |
| Other Amortization | 3.95M | 3.88M | 2.85M | 2.31M | 1.80M | 1.80M |
| Loss (Gain) From Sale of Investments | -163.07M | -189.85M | -37.22M | -63.56M | 1.47M | -89.34M |
| Provision & Write-off of Bad Debts | 48.00K | -202.00K | 1.60M | 1.00K | 362.00K | 792.00K |
| Other Operating Activities | -81.17M | -138.73M | -21.59M | -103.67M | -45.95M | 10.68M |
| Change in Accounts Receivable | -1.66M | -1.30M | 761.00K | -4.59M | 4.00K | -131.00K |
| Change in Accounts Payable | 531.00K | -44.00K | 559.00K | -54.00K | -13.00K | 236.00K |
| Change in Other Net Operating Assets | 32.88M | 39.89M | 4.03M | 14.32M | 2.28M | 10.25M |
| Operating Cash Flow | -43.36M | -101.61M | 16.31M | -69.94M | -4.50M | 36.60M |
| Long-Term Debt Issued | 450.95M | 336.44M | 314.48M | 102.50M | 246.25M | |
| Long-Term Debt Repaid | -346.25M | -281.10M | -210.50M | -67.30M | -134.10M | |
| Net Debt Issued (Repaid) | 48.46M | 104.70M | 55.34M | 103.98M | 35.20M | 112.15M |
| Issuance of Common Stock | 34.39M | 41.64M | 2.00M | 43.90M | 5.49M | |
| Common Dividends Paid | -57.86M | -57.16M | -60.95M | -76.06M | -47.05M | -38.85M |
| Other Financing Activities | -3.31M | -333.00K | -763.00K | -1.91M | -385.00K | -3.43M |
| Financing Cash Flow | 41.60M | 88.84M | -4.37M | 69.91M | -6.74M | -24.50M |
| Net Cash Flow | -1.76M | -12.77M | 11.93M | -28.00K | -11.25M | 12.10M |
| Levered Free Cash Flow | 36.24M | 38.35M | 27.58M | 24.94M | 26.80M | 22.00M |
| Unlevered Free Cash Flow | 58.82M | 60.10M | 44.17M | 39.15M | 36.05M | 30.94M |
| Cash Interest Paid | 36.70M | 33.77M | 25.43M | 21.98M | 14.10M | 9.84M |
| Change in Working Capital | 31.75M | 38.54M | 5.35M | 9.68M | 2.27M | 10.35M |
Ratios
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 608.08M | 565.47M | 492.15M | 510.72M | 443.29M | 535.60M |
| Enterprise Value | 1.18B | 1.14B | 1.04B | 921.40M | 728.03M | 768.68M |
| Last Close Price | 15.16 | 13.70 | 11.61 | 10.98 | 8.72 | 9.59 |
| PE Ratio | 3.65 | 3.06 | 7.54 | 5.99 | 12.47 | 5.24 |
| Forward PE | 17.06 | 16.23 | 14.30 | 13.53 | 12.16 | 17.53 |
| PS Ratio | 5.85 | 5.71 | 5.25 | 5.85 | 5.44 | 7.38 |
| PB Ratio | 0.93 | 0.85 | 0.99 | 1.04 | 1.01 | 1.20 |
| P/TBV Ratio | 0.94 | 0.85 | 0.99 | 1.04 | 1.01 | 1.20 |
| P/OCF Ratio | 30.18 | 14.63 | ||||
| PEG Ratio | 5.71 | 5.71 | 5.71 | 5.71 | 5.71 | |
| EV/Sales Ratio | 11.33 | 11.46 | 11.06 | 10.55 | 8.93 | 10.60 |
| EV/EBIT Ratio | 25.85 | 30.48 | 17.50 | 19.11 | 13.31 | 23.89 |
| Debt / Equity Ratio | 0.88 | 0.84 | 0.91 | 0.81 | 0.67 | 0.59 |
| Net Debt / Equity Ratio | 0.88 | 0.84 | 0.88 | 0.80 | 0.66 | 0.55 |
| Asset Turnover | 0.09 | 0.09 | 0.10 | 0.10 | 0.11 | 0.10 |
| Quick Ratio | 0.15 | 0.11 | 0.45 | 0.29 | 0.29 | 0.72 |
| Current Ratio | 0.20 | 0.14 | 0.48 | 0.33 | 0.33 | 0.74 |
| Return on Equity (ROE) | 29.17% | 31.65% | 13.17% | 18.30% | 8.03% | 24.71% |
| Return on Assets (ROA) | 2.42% | 2.00% | 3.81% | 3.54% | 4.54% | 2.91% |
| Return on Capital Employed (ROCE) | 3.70% | 3.00% | 6.20% | 5.40% | 7.50% | 4.50% |
| Earnings Yield | 27.42% | 32.67% | 13.27% | 16.70% | 8.02% | 19.10% |
| Dividend Yield | 6.29% | 6.76% | 7.19% | 6.90% | 7.05% | 5.39% |
| Payout Ratio | 22.93% | 30.94% | 93.31% | 89.16% | 132.36% | 37.97% |
| Buyback Yield / Dilution | -7.21% | -5.38% | -6.58% | -3.47% | -0.32% | -0.08% |
| Total Shareholder Return | -0.92% | 1.38% | 0.60% | 3.43% | 6.73% | 5.31% |