Saturday 17 October 2026 Export GLAD’s income statement to Excel — free account

Gladstone Capital Corporation

Gladstone Capital Corporation’s revenue for fiscal 2025 (year ended September 2025) was $89.1 million, down 7.76% from fiscal 2024. In the quarter to June 2026, revenue grew 13.1%, EPS grew 78.8% and free cash flow fell 280.7%, each against the same quarter a year earlier.

18.86 0.47 −2.43%

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Market cap: $436.7M
P/E: 8.8×
Fwd P/E: 10.0×
Dividend yield: 9.54%
F-score: 3/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 0.15%

Capital & Financial Ratios $m

Market Cap 436.72

Revenue 98.93

Net Income 48.15

Free Cash Flow (150.76)

Net Debt (2.35)

Current Ratio 0.03

Debt/Equity 0.00

P/E ratio 8.81

Fwd P/E 9.98

P/S ratio 4.31

P/B ratio 0.88

Past 5Y EPS Growth —

This Y EPS Growth (1.29%)

Next Y EPS Growth 0.80%

Next Y revenue growth 12.99%

Next 5Y EPS Growth 5.00%

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

Valuation vs history

P/E against its own 10 years 48.20%

10-year low 10-year high

P/S against its own 10 years 7.30%

10-year low 10-year high

P/B against its own 10 years 6.27%

10-year low 10-year high

Dividends

Payout Ratio 0.92

Annual Dividend Rate 1.80

Annual Dividend Yield 9.54%

	total	individual payouts
2027	Powerpack
2026	1.80	0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15
2025	2.04	0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.10 0.15 0.15 0.15
2024	2.38	0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.40 0.17
2023	1.92	0.15 0.15 0.15 0.16 0.16 0.16 0.17 0.17 0.04 0.17 0.17 0.17 0.17
2022	1.62	0.13 0.13 0.13 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14
2021	1.56	0.13 0.13 0.13 0.13 0.13 0.13 0.13 0.13 0.13 0.13 0.13 0.13
2020	1.59	0.14 0.14 0.14 0.13 0.13 0.13 0.13 0.13 0.13 0.13 0.13 0.13
2019	1.68	0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14
2018	1.68	0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14
2017	1.68	0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14
2016	1.68	0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	1	2	32	2
Receivables	6	6	6	6
Inventory	—	—	—	—
Other	3	3	5	3
	10	11	43	11

	2023	2024	2025	Q'26
Payables	4	4	4	5
ST’ Debt	—	—	—	—
Other	4	4	4	4
	261	263	406	439

Compound Annual Growth %

	10y	5y	3y
Sales	8.88%	13.19%	12.17%
Cash Flow	0.00%	0.00%	0.00%
Earnings	21.02%	0.00%	42.14%
Book Value	9.67%	15.58%	15.18%

Revenue $m

	Dec	Mar	Jun	Sep	Year
’26	25	26	24	—	—
’25	22	22	22	24	89
’24	23	24	26	24	97
’23	19	21	23	24	86
’22	16	17	14	16	63
’21	13	13	14	14	54
’20	12	11	12	13	48

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Dec	Mar	Jun	Sep	Year
’26	(34)	17	(37)	—	—
’25	24	47	20	(97)	(5)
’24	(26)	(19)	54	(6)	3
’23	35	(47)	(21)	23	(11)
’22	(6)	43	(56)	(58)	(76)
’21	12	(17)	12	(21)	(14)
’20	(24)	4	(34)	9	(46)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Dec	Mar	Jun	Sep	Year
’26	(34)	17	(37)	—	—
’25	24	47	20	(97)	(5)
’24	(26)	(19)	54	(6)	3
’23	35	(47)	(21)	23	(11)
’22	(6)	43	(56)	(58)	(76)
’21	12	(17)	12	(21)	(14)
’20	(24)	4	(34)	9	(46)

Fiscal quarters ending in the months shown.

EPS $

	Dec	Mar	Jun	Sep	Year
’26	0.21	0.63	0.49	—	—
’25	1.21	0.39	0.33	0.63	2.55
’24	0.92	1.09	0.88	1.46	4.34
’23	0.32	0.33	0.64	0.66	2.28
’22	0.70	0.48	(0.32)	0.30	1.16
’21	0.76	1.30	1.06	1.96	5.08
’20	0.04	(1.78)	0.96	0.66	(0.12)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	9.42	17.34	12.82	14.42	8.08	17.20	16.42	17.74	19.20	18.76	Analyst estimates 2026–2028 Powerpack
	High	19.24	20.24	19.74	21.38	21.10	25.16	25.56	22.56	28.62	30.43
People
People	Employees	61	65	67	70	68	69	71	73	73	73
	Revenue/emp, $m	0.64	0.60	0.68	0.71	0.71	0.78	0.89	1.18	1.32	1.22
Income, $m
Income, $m	Revenue	39	39	46	50	48	54	63	86	97	89
	Gross margin, %	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00
	EBT	19	21	23	25	25	26	32	41	46	45
	EBT margin, %	49.82	54.63	50.65	49.13	52.47	48.56	51.11	47.46	47.67	50.72
	Net income	11	17	19	20	(2)	84	20	43	95	57
	Depreciation	16	1	(21)	(10)	20	(53)	18	13	(41)	44
Per share, $
Per share, $	Revenue	3.37	3.08	3.36	3.42	3.09	3.24	3.68	4.63	4.44	3.99
	Earnings	0.98	1.34	1.38	1.36	(0.12)	5.08	1.16	2.28	4.34	2.56
	Cash flow	5.17	(1.02)	(1.31)	0.63	(2.97)	(0.85)	(4.45)	(0.58)	0.15	(0.25)
	Capex	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	Free cash flow	5.17	(1.02)	(1.31)	0.63	(2.97)	(0.85)	(4.45)	(0.58)	0.15	(0.25)
	Book value	17.34	17.23	17.50	17.04	15.06	19.16	18.37	21.90	21.62	21.56
	Shares, m	12	13	14	15	16	17	17	19	22	22
Valuation, ×
Valuation, ×	P/E	15.06	14.21	13.29	14.34	0.00	4.45	14.64	9.55	5.53	8.54
	P/S	4.82	6.19	5.69	5.70	4.80	6.98	4.62	4.10	5.42	5.49
	P/B	0.94	1.11	1.09	1.14	0.98	1.18	0.92	0.87	1.11	1.01
	EV/Sales	6.48	8.43	8.06	6.73	7.41	7.90	6.83	4.63	6.13	5.43
	EV/FCF	4.22	(25.38)	(20.64)	36.38	(7.71)	(30.24)	(5.65)	(36.88)	182.76	(88.19)
Cash, $m
Cash, $m	Operating cash flow	60	(13)	(18)	9	(46)	(14)	(76)	(11)	3	(5)
	Capex	—	—	—	—	—	—	—	—	—	—
	Free cash flow	60	(13)	(18)	9	(46)	(14)	(76)	(11)	3	(5)
Balance, $m
Balance, $m	Working capital	8	8	5	(38)	(90)	(185)	(195)	(251)	(252)	(363)
	Total debt	71	93	110	67	128	51	142	48	71	—
	Net debt	65	88	108	51	125	50	140	46	68	(32)
	Shareholders’ equity	201	220	237	249	234	318	315	409	471	482
Returns, %
Returns, %	ROA	3.17	4.90	4.87	4.81	(0.42)	16.44	3.24	6.18	12.34	6.65
	ROIC	4.58	4.36	4.18	5.11	4.38	4.44	4.43	5.63	5.34	6.28
	ROE	5.79	8.16	8.17	8.17	(0.78)	30.53	6.28	11.78	21.49	12.00

Negative figures in brackets.

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	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%	Compare
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
NOAH Noah Holdings Ltd.	$494.6M	5.8×	7.4×	+3.97% (above 0%: growing)	+38.89% (above 0%: growing)	+214.30% (above 0%: growing)	100.00%	34.81%	Compare
GLAD Gladstone Capital Corporation	$436.7M	8.8×	10.0×	+13.10% (above 0%: growing)	+78.79% (above 0%: growing)	−280.73% (below 0%: shrinking)	100.00%	71.30%
ALTI AlTi Global, Inc.	$360.2M	— (loss-making)	49.7×	+10.78% (above 0%: growing)	n/m	+84.23% (above 0%: growing)	100.00%	(18.70%)	Compare
TCPC BLACKROCK TCP CAPITAL CORP.	$354.1M	— (loss-making)	9.4×	−22.23% (below 0%: shrinking)	n/m	+330.05% (above 0%: growing)	100.00%	82.80%	Compare
CION CION Investment Corporation	$341.5M	110×	20.1×	−4.69% (below 0%: shrinking)	+19.23% (above 0%: growing)	−50.31% (below 0%: shrinking)	100.00%	28.47%	Compare
CCAP Crescent Capital BDC, Inc.	$336.4M	— (loss-making)	15.9×	−15.51% (below 0%: shrinking)	n/m	−72.97% (below 0%: shrinking)	59.08%	37.45%	Compare
Median of peers	$427.4M	8.5×	15.9×	−4.69%	+19.23%	+16.96%	100.00%	36.13%

All 120 Asset Management stocks →

Gladstone Capital Corporation (GLAD) key facts

Concern: Gladstone Capital Corporation’s revenue for fiscal 2025 (year ended September 2025) was $89.1 million, down 7.76% from fiscal 2024.
Gladstone Capital Corporation (GLAD) is an Asset Management company in the Financial sector, listed on Nasdaq.
As of October 16, 2026, GLAD traded at $18.86, a market capitalization of $436.7 million.
Gladstone Capital Corporation pays an annual dividend of $1.80 per share, a yield of 9.54%, with a payout ratio of 91.7%.
Return on equity was 12.0% and debt-to-equity 0.00.
Its Piotroski F-score is 3 out of 9 for fiscal 2025.