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Gladstone Investment Corporation

GAIN Financial Asset Management

Gladstone Investment Corporation’s revenue for fiscal 2026 (year ended March 2026) was $99.1 million, up 5.78% from fiscal 2025.

Revenue
+20.4%
EPS
−242.9%
Free cash flow
+116.1%

Quarter to June 2026, against a year earlier

14.92 0.02 −0.13%
Market cap
$594.9M
P/E
3.6×
Fwd P/E
41.5×
Dividend yield
6.43%
F-score
3/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 2.27%

Capital & Financial Ratios $m

Size
Market Cap 594.94
Revenue ttm 103.89
Net income ttm 165.13
Free cash flow ttm (43.36)
Net debt Q (3.59)
Valuation
P/E 3.57
Forward P/E 41.50 (above 35: high)
Price / sales 5.72
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.92
Financial health
Current ratio Q 0.02
Debt / equity Q 0.00
Interest coverage Q 2.20
Growth
Revenue growth Q +20.43% (above 0%: growing)
Operating income growth Q +60.48% (above 0%: growing)
EPS, this year +1,102.32% (at or above 15%: strong)
EPS, next year A +4.90%
Revenue, next year A +8.80%
EPS, past 5 yrs +30.10% (at or above 15%: strong)
EPS, next 5 yrs A +3.00%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 6.06%
10-year low 10-year high
P/S against its own 10 years 47.23%
10-year low 10-year high
P/B against its own 10 years 24.83%
10-year low 10-year high

Dividends

Yield
6.43%
Annual rate
0.96
Payout ratio
23.0%
Growth, 2017–25
+1.89%/yr
  1. 0.83 ’17
  2. 0.80 ’18 −3
  3. 0.82 ’19 +2
  4. 0.84 ’20 +3
  5. 0.86 ’21 +2
  6. 1.04 ’22 +21
  7. 1.20 ’23 +16
  8. 0.96 ’24 −20
  9. 0.96 ’25 +0
  10. 1.23 ’26e +28
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 3 15 2 4
Receivables 11 8 9 11
Inventory — — — —
Other — — — —
14 24 11 14
2024 2025 2026 Q'26
Payables 43 46 83 78
ST’ Debt — — — —
Other — — — —
445 506 653 654

Compound Annual Growth %

10y 5y 3y
Sales 6.88% 11.84% 6.71%
Cash Flow 0.00% 0.00% 0.00%
Earnings 22.21% 34.19% 73.22%
Book Value 9.13% 11.81% 14.97%

Earnings Trends EPS, adjusted, against the consensus

Q1 FY27 Estimate 0.24 Actual 0.26

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q2 FY26 0.24 0.24 Met by 0.00
Q3 FY26 0.24 0.21 Miss by 0.03
Q4 FY26 0.22 0.20 Miss by 0.02
Q1 FY27 0.24 0.26 Beat by 0.02
Q2 FY27 0.22 — Reports 9 November 2026

EPS $

Jun Sep Dec Mar Year
’26 (0.30) — — — —
’26 0.21 0.75 1.66 2.07 4.77
’25 (0.18) 0.42 1.05 0.49 1.78
’24 0.26 1.40 0.19 0.63 2.47
’23 0.36 0.09 0.47 0.14 1.07
’22 1.42 0.85 0.31 0.50 3.08
’21 0.00 0.20 0.46 0.62 1.28
Fiscal quarters ending in the months shown.

Revenue $m

Jun Sep Dec Mar Year
’26 28 — — — —
’26 24 25 25 25 99
’25 22 23 21 28 94
’24 20 20 23 24 87
’23 19 21 22 20 82
’22 18 19 17 19 73
’21 11 12 17 17 57
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Jun Sep Dec Mar Year
’26 8 — — — —
’26 (50) (61) (8) 17 (102)
’25 12 63 (172) 113 16
’24 (36) (60) 21 6 (70)
’23 41 (51) (4) 9 (5)
’22 14 (21) 46 (3) 37
’21 (5) (54) 27 3 (30)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Jun Sep Dec Mar Year
’26 8 — — — —
’26 (50) (61) (8) 17 (102)
’25 12 63 (172) 113 16
’24 (36) (60) 21 6 (70)
’23 41 (51) (4) 9 (5)
’22 14 (21) 46 (3) 37
’21 (5) (54) 27 3 (30)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to March

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 TTM Jun ’26 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 52 58 60 62 57 73 82 87 94 99 104 +7.5% 108 115 — +7.5%
Gross margin, % 64.63 67.03 62.85 63.89 59.82 66.19 67.62 65.88 65.57 60.97 61.22 (3.7) pt
EBT 45 61 82 (7) 42 102 36 85 65 185 165 +17.1%
EBT margin, % 86.29 104.00 136.75 (11.68) 74.97 141.02 43.59 97.71 69.74 186.47 158.95 +100.2 pt
Net income 45 61 82 (7) 42 102 36 85 65 185 165 +17.1%
Per share, $
Per share, $ Revenue 1.71 1.81 1.82 1.88 1.71 2.19 2.45 2.53 2.55 2.56 2.61 +4.6%
Earnings 1.48 1.88 2.49 (0.22) 1.28 3.08 1.07 2.47 1.78 4.77 4.18 +13.9%
Cash flow 1.08 (0.92) 2.85 1.07 (0.90) 1.10 (0.14) (2.03) 0.44 (2.62) (1.09) n/m
Capex 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 n/m
Free cash flow 1.08 (0.92) 2.85 1.07 (0.90) 1.10 (0.14) (2.03) 0.44 (2.62) (1.09) n/m
Book value 9.95 10.98 12.41 11.23 11.53 13.43 13.20 14.30 13.59 17.26 16.24 +6.3%
Shares, m 30 32 33 33 33 33 33 34 37 39 39 +2.8%
Valuation, ×
Valuation, × P/E 6.06 5.38 4.76 0.00 9.55 5.24 12.47 5.66 7.51 3.03 3.57 6.0
P/S 5.29 5.60 6.49 4.17 7.17 7.38 5.41 5.54 5.24 5.55 5.72 5.8
P/B 0.91 0.92 0.95 0.70 1.06 1.20 1.00 0.98 0.98 0.82 0.92 1.0
EV/Sales 5.31 5.62 6.51 4.18 7.21 7.25 5.44 5.56 5.13 5.58 — 5.8
EV/FCF 8.45 (11.02) 4.15 7.34 (13.74) 14.38 (98.41) (6.94) 29.48 (5.44) — (7.2)
Cash, $m
Cash, $m Operating cash flow 33 (30) 94 35 (30) 37 (5) (70) 16 (102) (43) n/m
Capex — — — — — — — — — — — —
Free cash flow 33 (30) 94 35 (30) 37 (5) (70) 16 (102) (43) n/m
Balance, $m
Balance, $m Working capital (69) (111) (76) (55) (162) (270) (315) (430) (483) (642) (640) +28.2%
Net debt 1 1 1 1 (2) (9) (3) (3) (15) (2) (4) n/m
Shareholders’ equity 301 354 407 369 382 446 440 493 499 668 647 +9.3%
Returns, %
Returns, % ROA 8.79 10.78 13.10 (1.19) 6.96 14.78 4.72 10.01 6.72 15.86 14.01 +7.1 pt
ROIC 3.28 2.82 0.21 4.90 2.03 2.39 5.90 3.98 5.37 1.51 2.36 (1.8) pt
ROE 15.43 18.52 21.43 (1.86) 11.30 24.71 8.03 18.30 13.17 31.65 29.17 +16.2 pt
People
People Employees 64 65 69 70 67 69 74 70 74 78 — +2.2%
Revenue/emp, $m 0.81 0.90 0.86 0.88 0.85 1.05 1.10 1.25 1.27 1.27 — +5.1%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Mar 2026 · latest quarter Jun 2026

Gladstone Investment Corporation vs peers in Asset Management (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
BCSF Bain Capital Specialty Finance, Inc. $724.6M 11.3× 10.3× −12.14% (below 0%: shrinking) −40.54% (below 0%: shrinking) +10,857.59% (above 0%: growing) 100.00% 80.20% Compare
PFLT PennantPark Floating Rate Capital Ltd. $677.7M 13.4× 11.7× +4.07% (above 0%: growing) −57.89% (below 0%: shrinking) +392.80% (above 0%: growing) 100.00% 77.14% Compare
NMFC New Mountain Finance Corporation $661.2M — (loss-making) 39.1× −30.93% (below 0%: shrinking) −64.00% (below 0%: shrinking) −46.09% (below 0%: shrinking) 100.00% 0.00% Compare
ACGP Associated Capital Group, Inc. $649.9M 14.6× 4.2× +13.32% (above 0%: growing) +3.41% (above 0%: growing) +254.80% (above 0%: growing) 100.00% (314.07%) Compare
SLRC SLR Investment Corp. $643.0M 11.3× 10.4× −13.42% (below 0%: shrinking) −67.67% (below 0%: shrinking) +77.74% (above 0%: growing) 100.00% 71.09% Compare
TIPT Tiptree Financial Inc. $640.0M 1.6× — (loss-making) −100.00% (below 0%: shrinking) −17.82% (below 0%: shrinking) −238.91% (below 0%: shrinking) 100.00% 0.00% Compare
GAIN Gladstone Investment Corporation $594.9M 3.6× 41.5× +20.43% (above 0%: growing) n/m +116.07% (above 0%: growing) 63.66% 76.50%
NCDL Nuveen Churchill Direct Lending Corp. $585.9M 13.8× 11.0× −14.54% (below 0%: shrinking) −22.61% (below 0%: shrinking) +70.77% (above 0%: growing) 100.00% 78.80% Compare
VINP Vinci Compass Investments Ltd. $563.4M 11.8× 14.6× +30.12% (above 0%: growing) −26.32% (below 0%: shrinking) +17.98% (above 0%: growing) 100.00% 27.59% Compare
Median of peers $646.4M 11.8× 11.0× −12.78% −33.43% +74.26% 100.00% 49.34%

All 121 Asset Management stocks →

Pay and ownership Proxy statement filed 18 June 2026

Ownership

Directors and executive officers, together 2.25%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Gladstone Investment Corporation (GAIN) Latest News

28 Oct

Impact 4 · · ACCESS Newswire
Impact 3 · · 24/7 Wall St.

19 Oct

Impact 3 · · 24/7 Wall St.

30 Sep

Impact 4 · · ACCESS Newswire

28 Sep

Impact 3 · · ACCESS Newswire

7 Aug

Impact 3 ·
Impact 3 · · MarketBeat transcript
Impact 3 · · Moby

6 Aug

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20 Jul

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10 Jul

Impact 4 ·

29 Jun

Impact 4 ·

13 May

Impact 4 · · GuruFocus.com
Impact 4 · · The Motley Fool transcript
Impact 4 · · MarketBeat
Impact 4 · · Benzinga transcript
Impact 3 · · Moby transcript

12 May

Impact 4 · · Zacks
Impact 4 · · ACCESS Newswire

7 May

Impact 3 · · 24/7 Wall St.

24 Apr

Impact 4 · · 24/7 Wall St.

20 Apr

Impact 4 · · 24/7 Wall St.

18 Apr

Impact 4 · · 24/7 Wall St.

6 Apr

Impact 3 · · GuruFocus.com

23 Mar

Impact 4 · · ACCESS Newswire

10 Feb

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9 Feb

Impact 3 · · ACCESS NewswireMT NewswiresAssociated Press FinanceMT NewswiresMarketBeatZacksZacks

4 Feb

Impact 4 · · MarketBeat
Impact 3 · · GuruFocus.com transcript
stockrow.com/GAIN · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com