GLAD
Gladstone Capital Corporation
GLAD's fundamentals are mixed: earnings per share grew 13%, but revenue fell 66%. At 7.3x earnings, it's trading below its usual 9.5x. Analysts expect earnings to hold roughly steady.
GLAD Fundamentals
| Metric | Status |
|---|---|
| Weak | |
| Strong | |
| N/A | |
| N/A |
GLAD's profitability is currently strong, but its revenue is weak. Free cash flow and net leverage aren't meaningful measures for financial services companies like GLAD.
GLAD PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6.2x | $16.39 | -15% |
| Current | 7.3x | $19.39 | — |
| Fair | 9.4x | $24.91 | +28% |
| Forward | 9.8x | $19.39 | — |
| Expensive | 15x | $39.91 | +106% |
Historical ranges are pointers, not guarantees.
GLAD's PE is in its cheap range at 7.3x. On analysts' estimates for next year's earnings, today's price would be 9.8x, in its fair range.
GLAD Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Stable | |
| Growth | |
| Strongly weakening | |
| Limited | |
| High |
Analysts expect GLAD's revenue to grow, but its profitability to weaken.
GLAD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.98 | -25% |
| Q2 2026 | $2.65 | +13% |
| Q1 2026 | $2.42 | -6.6% |
| Q4 2025 | $2.29 | -12% |
| Q3 2025 | $2.55 | -3% |
| Q2 2025 | $2.35 | +8.3% |
| Q1 2025 | $2.59 | +17% |
| Q4 2024 | $2.59 | +16% |
| Q3 2024 | $2.63 | +20% |
GLAD's earnings per share have fallen from their peak: $2.65 over the past year, against $5.04 in late 2021.
GLAD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2022 | $9M | -75% |
| Q1 2022 | $12.4M | -49% |
| Q4 2021 | $14.5M | -6.7% |
| Q3 2021 | $36.4M | +172% |
| Q2 2021 | $21.3M | +22% |
| Q4 2020 | $15.5M | +386% |
| Q3 2020 | $13.4M | +58% |
GLAD's revenue has slid since its 2021 peak: $9M last quarter, down 75% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2022 | 57% | -33 points |
| Q1 2022 | 67% | -21 points |
| Q4 2021 | 83% | +4.3 points |
| Q3 2021 | 90% | +13 points |
| Q2 2021 | 84% | -1.5 points |
| Q1 2021 | 88% | N/A |
| Q4 2020 | 79% | +57 points |
| Q3 2020 | 77% | +13 points |
GLAD's operating margin was 57% last quarter, down 27 points from the same quarter a year ago, near the bottom of its range since 2019.
GLAD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$36.9M | -281% |
| Q1 2026 | $16.6M | -65% |
| Q4 2025 | -$33.8M | -241% |
| Q3 2025 | -$96.6M | -$90.9M |
| Q2 2025 | $20.4M | -62% |
| Q1 2025 | $46.8M | +$65.9M |
| Q4 2024 | $24M | +$50.2M |
| Q3 2024 | -$5.7M | -125% |
GLAD's free cash flow was −$151M over the past year, against $85M the year before. Free cash flow isn't a meaningful measure for financial services companies like GLAD.
GLAD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | +27% | +6M shares |
| 3 years | +51% | +9.5M shares |
| 5 years | +68% | +11.5M shares |
| Available history | +86% | +13.1M shares |
GLAD has 28M diluted shares, up 27% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2022 | — |
| Q2 2022 | — |
| Q1 2022 | — |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | — |
GLAD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2022 | 7.2x | High |
| Q2 2022 | 4.8x | High |
| Q1 2022 | 2.6x | Moderate |
| Q4 2021 | 2.7x | Moderate |
| Q3 2021 | 2.8x | Moderate |
| Q2 2021 | 3.4x | Elevated |
| Q1 2021 | 3.8x | Elevated |
| Q4 2020 | 20.5x | High |
GLAD's net debt is about 7.2 years of its operating earnings (EBITDA), up from 2.8 years a year ago. Net leverage isn't a meaningful measure for financial services companies like GLAD.
GLAD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.9 | Neutral |
| Stochastic | 49.1 | Neutral |
GLAD's weekly RSI is 51 (neutral) and its Stochastic is 49 (neutral).
GLAD PE vs Financial Services Sector
| Metric | GLAD | Sector median | Relative |
|---|---|---|---|
| PE | 7.3x | 13x | 44% below |
| PE % | 27 | 63 | 36 pts below |
GLAD is trading at 7.3x earnings, a 44% discount to the Financial Services sector's median of 13x.
GLAD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $19.0 | 1.8% above |
| 20 week MA | $19.4 | 0.2% above |
| 50 week MA | $19.3 | 0.5% above |
| 100 week MA | $22.5 | 14% below |
| 200 week MA | $22.0 | 12% below |
GLAD has bounced recently, but its long-term trend is still down: it's above its 8-, 20- and 50-week averages, but 12% below its 200-week average.
GLAD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $20.2 | $17.4 | -14% |
| 2021 | $17.4 | $22.3 | +28% |
| 2022 | $22.3 | $19.2 | -14% |
| 2023 | $19.2 | $21.4 | +12% |
| 2024 | $21.4 | $28.1 | +31% |
| 2025 | $28.1 | $20.5 | -27% |
| 2026 YTD | $20.5 | $19.4 | -5.5% |
GLAD has finished lower in three of the last six years. It's down 5.5% so far in 2026.