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. In the quarter to June 2026, revenue grew 20.4%, EPS fell 242.9% and free cash flow grew 116.1%, each against the same quarter a year earlier. Revenue growth for five consecutive years.

15.05 0.27 −1.76%
Market cap
$610.1M
P/E
3.6×
Fwd P/E
17.7×
Dividend yield
6.38%
F-score
3/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 2.27%

Capital & Financial Ratios $m

Market Cap 610.07
Revenue 103.89
Net Income 165.13
Free Cash Flow (43.36)
Net Debt (3.59)
Current Ratio 0.02
Debt/Equity 0.00
P/E ratio 3.60
Fwd P/E 17.70
P/S ratio 5.77
P/B ratio 0.93
Past 5Y EPS Growth 30.10% (at or above 15%: strong)
This Y EPS Growth 1,102.32% (at or above 15%: strong)
Next Y EPS Growth 4.90%
Next Y revenue growth 8.80%
Next 5Y EPS Growth 3.00%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 5.89%
10-year low 10-year high
P/S against its own 10 years 49.28%
10-year low 10-year high
P/B against its own 10 years 27.68%
10-year low 10-year high

Dividends

Payout Ratio 0.23
Annual Dividend Rate 0.96
Annual Dividend Yield 6.38%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.23
0.08
0.08
0.08
0.08
0.08
0.08
0.08
0.08
0.08
2025 1.19
0.08
0.08
0.08
0.08
0.08
0.54
0.08
0.08
0.08
0.08
0.08
0.08
0.08
2024 1.66
0.08
0.08
0.08
0.08
0.08
0.08
0.08
0.08
0.08
0.70
0.08
0.08
0.08
2023 1.96
0.08
0.08
0.24
0.08
0.08
0.08
0.12
0.08
0.08
0.08
0.12
0.08
0.08
0.12
0.08
0.88
0.08
2022 0.92
0.08
0.12
0.08
0.08
0.08
0.08
0.12
0.08
0.08
0.08
0.08
0.08
0.08
0.12
0.08
2021 0.89
0.07
0.07
0.07
0.07
0.07
0.06
0.07
0.07
0.07
0.03
0.07
0.08
0.08
0.09
0.08
2020 0.84
0.07
0.07
0.07
0.07
0.07
0.09
0.07
0.07
0.07
0.07
0.07
0.07
0.07
2019 1.03
0.07
0.07
0.07
0.07
0.07
0.09
0.07
0.07
0.07
0.03
0.07
0.07
0.07
0.09
0.07
2018 0.80
0.07
0.07
0.07
0.07
0.07
0.06
0.07
0.07
0.07
0.07
0.07
0.07
0.06
0.06
0.07
2017 0.77
0.06
0.06
0.06
0.06
0.06
0.06
0.06
0.06
0.06
0.06
0.07
0.07
0.06
0.07
2016 0.75
0.06
0.06
0.06
0.06
0.06
0.06
0.06
0.06
0.06
0.06
0.06
0.06
predictions special payouts not included in total or ratios

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%

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.

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.

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to March

Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 2027e 2028e 2029e
Price, $
Price, $ Low 8.45 8.70 9.23 6.43 9.91 11.40 12.11 12.46 11.42 13.11

Analyst estimates 2027–2029

Powerpack
High 11.50 12.26 15.34 13.99 17.15 17.12 14.92 14.96 15.34 17.14
People
People Employees 64 65 69 70 67 69 74 70 74 78
Revenue/emp, $m 0.81 0.90 0.86 0.88 0.85 1.05 1.10 1.25 1.27 1.27
Income, $m
Income, $m Revenue 52 58 60 62 57 73 82 87 94 99
Gross margin, % 64.63 67.03 62.85 63.89 59.82 66.19 67.62 65.88 65.57 60.97
EBT 45 61 82 (7) 42 102 36 85 65 185
EBT margin, % 86.29 104.00 136.75 (11.68) 74.97 141.02 43.59 97.71 69.74 186.47
Net income 45 61 82 (7) 42 102 36 85 65 185
Depreciation 2 2 (19) 80 2 (73) 14 (31) 29 (212)
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
Earnings 1.48 1.88 2.49 (0.22) 1.28 3.08 1.07 2.47 1.78 4.77
Cash flow 1.08 (0.92) 2.85 1.07 (0.90) 1.10 (0.14) (2.03) 0.44 (2.62)
Capex 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Free cash flow 1.08 (0.92) 2.85 1.07 (0.90) 1.10 (0.14) (2.03) 0.44 (2.62)
Book value 9.95 10.98 12.41 11.23 11.53 13.43 13.20 14.30 13.59 17.26
Shares, m 30 32 33 33 33 33 33 34 37 39
Valuation, ×
Valuation, × P/E 6.06 5.38 4.76 0.00 9.55 5.24 12.47 5.66 7.51 3.03
P/S 5.29 5.60 6.49 4.17 7.17 7.38 5.41 5.54 5.24 5.55
P/B 0.91 0.92 0.95 0.70 1.06 1.20 1.00 0.98 0.98 0.82
EV/Sales 5.31 5.62 6.51 4.18 7.21 7.25 5.44 5.56 5.13 5.58
EV/FCF 8.45 (11.02) 4.15 7.34 (13.74) 14.38 (98.41) (6.94) 29.48 (5.44)
Cash, $m
Cash, $m Operating cash flow 33 (30) 94 35 (30) 37 (5) (70) 16 (102)
Capex — — — — — — — — — —
Free cash flow 33 (30) 94 35 (30) 37 (5) (70) 16 (102)
Balance, $m
Balance, $m Working capital (69) (111) (76) (55) (162) (270) (315) (430) (483) (642)
Total debt 5 5 5 5 244 5 293 — — —
Net debt 1 1 1 1 (2) (9) (3) (3) (15) (2)
Shareholders’ equity 301 354 407 369 382 446 440 493 499 668
Returns, %
Returns, % ROA 8.79 10.78 13.10 (1.19) 6.96 14.78 4.72 10.01 6.72 15.86
ROIC 3.28 2.82 0.21 4.90 2.03 2.39 5.90 3.98 5.37 1.51
ROE 15.43 18.52 21.43 (1.86) 11.30 24.71 8.03 18.30 13.17 31.65
Negative figures in brackets.

All 10 years →

Fiscal years to Mar 2026 · latest quarter Jun 2026

Charts ten years each

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
MFIC MidCap Financial Investment Corporation $700.2M — (loss-making) 14.7× −16.03% (below 0%: shrinking) n/m +307.98% (above 0%: growing) 100.00% 87.62% Compare
BCSF Bain Capital Specialty Finance, Inc. $689.6M 10.4× 9.7× −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. $660.1M 12.8× 10.2× +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 $651.3M — (loss-making) 29.5× −4.25% (below 0%: shrinking) +157.14% (above 0%: growing) −39.48% (below 0%: shrinking) 100.00% 0.00% Compare
ACGP Associated Capital Group, Inc. $649.9M 14.8× 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. $629.0M 8.4× 9.9× −9.45% (below 0%: shrinking) −65.91% (below 0%: shrinking) +112.02% (above 0%: growing) 100.00% 70.73% Compare
GAIN Gladstone Investment Corporation $610.1M 3.6× 17.7× +20.43% (above 0%: growing) n/m +116.07% (above 0%: growing) 63.66% 76.50%
OIO ESGL Holdings Limited $563.8M — (loss-making) — — n/m −65.30% (below 0%: shrinking) — 0.00% Compare
NCDL Nuveen Churchill Direct Lending Corp. $536.4M 11.2× 9.5× −16.57% (below 0%: shrinking) −78.13% (below 0%: shrinking) −55.51% (below 0%: shrinking) 100.00% 82.98% Compare
Median of peers $650.6M 11.2× 9.9× −9.45% −49.21% +183.41% 100.00% 73.94%

All 120 Asset Management stocks →

Gladstone Investment Corporation (GAIN) key facts

  • Strength: Gladstone Investment Corporation’s revenue for fiscal 2026 (year ended March 2026) was $99.1 million, up 5.78% from fiscal 2025.
  • Gladstone Investment Corporation (GAIN) is an Asset Management company in the Financial sector, listed on Nasdaq.
  • As of October 16, 2026, GAIN traded at $15.05, a market capitalization of $610.1 million.
  • Gladstone Investment Corporation pays an annual dividend of $0.96 per share, a yield of 6.38%, with a payout ratio of 23.0%.
  • Return on equity was 31.7% and debt-to-equity 0.00.
  • Its Piotroski F-score is 3 out of 9 for fiscal 2026.

Source: company filings (standardised) and stockrow calculations.

Gladstone Investment Corporation (GAIN) Latest News

stockrow.com/GAIN · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com