Gladstone Commercial Corporation (GOOD) vs JBG SMITH Properties (JBGS)

Gladstone Commercial Corporation and JBG SMITH Properties are both Reit Diversified companies. JBG SMITH Properties is the larger, with a market value of $776.8M against $612.7M — 1.3× the size. JBG SMITH Properties has negative trailing earnings, so its P/E is not meaningful; Gladstone Commercial Corporation trades at 48.1×. Gladstone Commercial Corporation grew revenue faster over the last twelve months: 10.8% against −1.08%. Gladstone Commercial Corporation has the higher net margin (7.15% vs −29.9%) and the higher return on invested capital (4.14% vs −0.08%). Both pay a dividend; Gladstone Commercial Corporation yields more (9.44% vs 5.34%). Across the 21 metrics below, Gladstone Commercial Corporation leads on 15 and JBG SMITH Properties on 6.

Valuation

Metric GOOD JBGS Reit Diversified median
P/E 48.08 n/m 23.72
P/S 3.58 1.21 3.28
P/B 3.87 0.57 0.87
Price to free cash flow n/m n/m 9.21
EV/EBITDA 11.71 15.60 11.57
EV/Sales 8.55 5.97 6.64
Earnings yield 2.08% (24.79%) 1.04%
Free cash flow yield (1.02%) (6.88%) 0.16%

Profitability

Metric GOOD JBGS Reit Diversified median
Gross margin 79.10% 61.85% 77.09%
Operating margin 38.97% (0.88%) 33.33%
Net margin 7.15% (29.89%) 2.62%
Free cash flow margin (3.66%) (8.31%) 3.11%
Return on equity 7.27% (12.66%) 3.13%
Return on assets 0.99% (3.45%) 0.35%
Return on invested capital 4.14% (0.08%) 2.80%

Growth

Metric GOOD JBGS Reit Diversified median
Revenue growth (TTM) 10.78% (1.08%) 5.49%
EPS growth (last fiscal year) (46.15%) (26.67%) —
Revenue growth, 5-year CAGR 3.91% (3.72%) 4.83%
Net income growth, 5-year CAGR 15.92% 0.00% 0.00%

Health

Metric GOOD JBGS Reit Diversified median
Debt to equity 5.43 2.35 1.13
Current ratio 3.72 4.89 1.47
Net debt to EBITDA 7.29 11.90 5.88

Dividend

Metric GOOD JBGS Reit Diversified median
Dividend yield 9.44% 5.34% 7.13%
Payout ratio 75.18 2.20 1.37

Size

Metric GOOD JBGS Reit Diversified median
Market cap 612.66m 776.78m 729.58m

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