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Gladstone Capital Corporation

GLAD Financial Asset Management

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%
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%) (below 0%: weak)
Next Y EPS Growth 0.80%
Next Y revenue growth 12.99% (at or above 10%: strong)
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.

Target Price Range

Analyst price targets

Recommendation Rating

1.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
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

Gladstone Capital 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
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.

Source: company filings (standardised) and stockrow calculations.

Gladstone Capital Corporation (GLAD) Latest News

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