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Gladstone Capital Co. 7.75% Notes due 2028 (GLADZ) Financials

$25.72 0.00 (0.00%)
As of 08/8/2025 03:56 PM Eastern
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Annual Income Statements for Gladstone Capital Co. 7.75% Notes due 2028

Annual Income Statements for Gladstone Capital Co. 7.75% Notes due 2028

This table shows Gladstone Capital Co. 7.75% Notes due 2028's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2021 2022 2023 2024
Period end date 9/30/2021 9/30/2022 9/30/2023 9/30/2024
Net Income / (Loss) Attributable to Common Shareholders		 84 20 43 95
Consolidated Net Income / (Loss)		 84 20 43 95
Net Income / (Loss) Continuing Operations		 84 20 43 95
Total Pre-Tax Income 		84 20 41 95
Total Revenue		 100 38 67 124
Net Interest Income / (Expense)		 38 41 62 72
Total Interest Income		 50 54 83 93
Investment Securities Interest Income		 50 54 83 93
Total Interest Expense		 12 13 21 22
Long-Term Debt Interest Expense		 12 13 21 22
Total Non-Interest Income		 62 -3.20 5.05 52
Other Service Charges		 1.58 5.70 1.88 1.91
Net Realized & Unrealized Capital Gains on Investments		 58 -12 1.65 49
Other Non-Interest Income		 2.26 3.46 1.52 1.42
Total Non-Interest Expense		 16 18 25 29
Insurance Policy Acquisition Costs		 5.75 7.51 10 11
Other Operating Expenses		 9.07 9.22 13 16
Amortization Expense		 1.35 1.18 1.53 1.86
Preferred Stock Dividends Declared		 - 0.00 0.00 0.22
Basic Earnings per Share		 $0.79 $1.88 $2.20 $2.11
Weighted Average Basic Shares Outstanding		 33.23M 17.18M 18.66M 21.78M
Diluted Earnings per Share		 $0.79 $1.88 $2.20 $2.11
Weighted Average Diluted Shares Outstanding		 33.23M 17.18M 18.66M 21.78M
Weighted Average Basic & Diluted Shares Outstanding		 - - 43.51M 22.33M
Cash Dividends to Common per Share		 - $0.80 $0.94 $1.98

Quarterly Income Statements for Gladstone Capital Co. 7.75% Notes due 2028

This table shows Gladstone Capital Co. 7.75% Notes due 2028's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 6/30/2022 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 -5.60 5.11 5.70 12 12 13 20 24 19 32 27
Consolidated Net Income / (Loss)		 -5.60 5.11 5.70 12 12 13 20 24 19 32 27
Net Income / (Loss) Continuing Operations		 -5.60 5.11 8.73 12 12 10 20 24 19 40 27
Total Pre-Tax Income 		-5.60 5.11 8.73 12 12 8.43 20 24 19 40 27
Total Revenue		 -1.91 9.78 15 18 17 17 26 31 27 47 33
Net Interest Income / (Expense)		 9.44 12 14 15 16 18 18 18 18 18 17
Total Interest Income		 13 16 18 20 22 23 23 24 23 23 21
Investment Securities Interest Income		 13 16 1.00 20 22 41 23 24 23 45 21
Total Interest Expense		 3.15 3.79 4.63 4.91 5.55 5.76 5.03 5.73 5.51 5.44 4.74
Long-Term Debt Interest Expense		 3.15 3.79 4.63 4.91 5.55 5.76 5.03 5.73 5.51 5.44 4.74
Total Non-Interest Income		 -11 -2.00 0.93 3.34 1.22 -0.43 8.29 13 9.24 29 17
Other Service Charges		 0.04 0.16 0.09 0.70 0.60 0.49 0.04 0.28 1.44 0.15 0.64
Net Realized & Unrealized Capital Gains on Investments		 -13 -2.37 - 2.35 0.21 - 8.07 13 6.75 - 16
Other Non-Interest Income		 1.15 0.22 - 0.28 0.40 - 0.19 0.00 1.05 - 0.00
Total Non-Interest Expense		 3.69 4.67 5.94 6.02 5.59 7.01 6.26 7.49 7.79 7.32 5.99
Insurance Policy Acquisition Costs		 1.58 1.87 - 2.41 2.92 - 2.98 2.67 3.08 - 2.70
Other Operating Expenses		 1.82 2.48 3.38 3.23 2.27 3.90 2.84 4.38 4.26 4.10 2.77
Amortization Expense		 0.29 0.33 0.38 0.38 0.41 0.37 0.43 0.44 0.45 0.54 0.52
Preferred Stock Dividends Declared		 - - - 0.00 0.00 - 0.00 0.01 0.09 - 0.17
Basic Earnings per Share		 $0.20 $0.30 $0.25 $0.26 $0.62 $0.70 $0.55 $0.25 $0.57 $1.46 $0.50
Weighted Average Basic Shares Outstanding		 34.30M 17.18M 35.21M 36.60M 18.84M 18.66M 21.75M 43.51M 21.75M 21.78M 22.31M
Diluted Earnings per Share		 $0.20 $0.30 $0.25 $0.26 $0.62 $0.70 $0.55 $0.25 $0.57 $1.46 $0.50
Weighted Average Diluted Shares Outstanding		 34.30M 17.18M 35.21M 36.60M 18.84M 18.66M 21.75M 43.51M 21.75M 21.78M 22.31M
Weighted Average Basic & Diluted Shares Outstanding		 - 0.00 36.51M 37.45M 38.60M 43.51M 43.51M 21.75M 21.75M 22.33M 22.33M
Cash Dividends to Common per Share		 - $0.41 $0.21 - - $0.57 $0.25 - - $0.50 $0.90

Annual Cash Flow Statements for Gladstone Capital Co. 7.75% Notes due 2028

This table details how cash moves in and out of Gladstone Capital Co. 7.75% Notes due 2028's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2021 2022 2023 2024
Period end date 9/30/2021 9/30/2022 9/30/2023 9/30/2024
Net Change in Cash & Equivalents		 -1.62 1.26 -0.71 0.90
Net Cash From Operating Activities		 -14 -76 -11 3.24
Net Cash From Continuing Operating Activities		 -14 -76 -11 3.24
Net Income / (Loss) Continuing Operations		 84 20 43 95
Consolidated Net Income / (Loss)		 84 20 43 95
Depreciation Expense		 -55 18 11 -43
Amortization Expense		 2.22 0.73 1.64 2.03
Non-Cash Adjustments to Reconcile Net Income		 -42 -104 -63 -43
Changes in Operating Assets and Liabilities, net		 -3.23 -10 -3.56 -7.21
Net Cash From Investing Activities		 0.00 0.00 0.00 0.00
Net Cash From Continuing Investing Activities		 0.00 0.00 0.00 0.00
Net Cash From Financing Activities		 12 78 10 -2.34
Net Cash From Continuing Financing Activities		 12 78 10 -2.34
Issuance of Debt		 389 379 206 221
Issuance of Preferred Equity		 - 0.00 0.00 7.85
Issuance of Common Equity		 27 4.53 87 11
Repayment of Debt		 -374 -276 -243 -198
Payment of Dividends		 -26 -27 -35 -43
Other Financing Activities, Net		 -3.44 -2.04 -4.83 -0.84
Cash Interest Paid		 11 12 20 22

Quarterly Cash Flow Statements for Gladstone Capital Co. 7.75% Notes due 2028

This table details how cash moves in and out of Gladstone Capital Co. 7.75% Notes due 2028's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 6/30/2022 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Change in Cash & Equivalents		 -0.70 1.16 4.09 2.85 -7.26 -0.39 0.19 3.82 -4.17 1.06 -0.43
Net Cash From Operating Activities		 -56 -58 35 -47 -21 23 -26 -19 54 -5.69 24
Net Cash From Continuing Operating Activities		 -56 -58 35 -47 -21 23 -26 -19 54 -5.69 24
Net Income / (Loss) Continuing Operations		 -5.60 5.11 5.70 12 12 13 20 24 19 32 27
Consolidated Net Income / (Loss)		 -5.60 5.11 5.70 12 12 13 20 24 19 32 27
Depreciation Expense		 4.40 2.28 13 -1.93 2.75 -2.40 -7.81 -11 -3.44 -21 42
Amortization Expense		 0.23 0.49 0.36 0.62 0.38 0.29 0.47 0.73 0.57 0.26 0.35
Non-Cash Adjustments to Reconcile Net Income		 -52 -64 16 -55 -38 14 -36 -30 39 -16 -44
Changes in Operating Assets and Liabilities, net		 -2.80 -1.39 -0.62 -2.78 1.87 -2.02 -2.64 -2.97 -0.60 -1.00 -1.23
Net Cash From Investing Activities		 - - 0.00 - - - 0.00 - - - 0.00
Net Cash From Continuing Investing Activities		 - - 0.00 - - - 0.00 - - - 0.00
Net Cash From Financing Activities		 56 59 -30 50 14 -23 26 23 -58 6.75 -24
Net Cash From Continuing Financing Activities		 56 59 -30 50 14 -23 26 23 -58 6.75 -24
Issuance of Debt		 74 93 15 86 23 83 70 64 45 42 88
Issuance of Preferred Equity		 - - - - - - 0.00 1.58 4.02 2.25 2.25
Issuance of Common Equity		 - 4.53 11 14 14 49 0.00 - - 11 2.47
Repayment of Debt		 -11 -32 -48 -41 -11 -142 -33 -32 -97 -37 -97
Payment of Dividends		 -6.95 -7.00 -7.40 -8.26 -9.08 -11 -11 -11 -11 -11 -20
Other Financing Activities, Net		 -0.09 -0.37 -0.36 -0.24 -1.53 -2.70 -0.07 -0.08 -0.23 -0.46 -0.05
Cash Interest Paid		 1.61 5.02 3.08 6.20 4.03 7.11 3.67 7.04 4.22 6.82 3.38

Annual Balance Sheets for Gladstone Capital Co. 7.75% Notes due 2028

This table presents Gladstone Capital Co. 7.75% Notes due 2028's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 9/30/2022 9/30/2023 9/30/2024
Total Assets		 661 719 812
Cash and Due from Banks		 2.01 1.31 2.17
Restricted Cash		 0.10 0.10 0.13
Trading Account Securities		 - - 828
Loans and Leases, Net of Allowance		 0.00 0.00 0.00
Deferred Acquisition Cost		 0.84 1.34 1.05
Other Assets		 677 744 10
Total Liabilities & Shareholders' Equity		 661 724 817
Total Liabilities		 345 311 334
Accrued Interest Payable		 2.52 2.96 2.92
Long-Term Debt		 198 253 254
Other Long-Term Liabilities		 148 59 81
Commitments & Contingencies		 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 - 0.00 7.85
Total Equity & Noncontrolling Interests		 315 409 471
Total Preferred & Common Equity		 315 409 471
Total Common Equity		 315 409 471
Common Stock		 396 482 492
Retained Earnings		 -80 -73 -21

Quarterly Balance Sheets for Gladstone Capital Co. 7.75% Notes due 2028

This table presents Gladstone Capital Co. 7.75% Notes due 2028's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 12/31/2023 3/31/2024 6/30/2024 12/31/2024
Total Assets		 640 700 730 767 812 775 816
Cash and Due from Banks		 6.10 8.92 1.68 1.50 5.28 1.14 1.74
Restricted Cash		 - - - - - - 0.14
Trading Account Securities		 622 679 715 750 792 758 816
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Deferred Acquisition Cost		 0.71 0.49 1.51 1.22 1.12 1.15 0.80
Other Assets		 6.95 5.79 7.14 9.58 11 9.03 10
Total Liabilities & Shareholders' Equity		 636 696 730 763 807 770 816
Total Liabilities		 315 358 372 349 380 330 325
Accrued Interest Payable		 4.07 2.78 4.31 4.32 3.01 4.30 4.28
Long-Term Debt		 198 198 198 253 254 254 254
Other Long-Term Liabilities		 110 154 167 87 118 67 70
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 - - - - 1.58 5.60 10
Total Equity & Noncontrolling Interests		 324 342 358 418 431 439 480
Total Preferred & Common Equity		 324 342 358 418 431 439 480
Total Common Equity		 324 342 358 418 431 439 480
Common Stock		 406 420 433 482 482 482 495
Retained Earnings		 -82 -78 -75 -64 -51 -42 -14

Annual Metrics And Ratios for Gladstone Capital Co. 7.75% Notes due 2028

This table displays calculated financial ratios and metrics derived from Gladstone Capital Co. 7.75% Notes due 2028's official financial filings.

Metric 2021 2022 2023 2024
Period end date 9/30/2021 9/30/2022 9/30/2023 9/30/2024
Growth Metrics		 - - - -
Revenue Growth		 0.00% -62.35% 77.78% 83.79%
EBITDA Growth		 0.00% 21.12% 44.90% -2.30%
EBIT Growth		 0.00% -76.38% 114.26% 122.00%
NOPAT Growth		 0.00% -76.38% 105.99% 130.91%
Net Income Growth		 0.00% -76.38% 114.26% 122.00%
EPS Growth		 0.00% -76.38% 114.26% -4.09%
Operating Cash Flow Growth		 0.00% -443.32% 85.79% 129.83%
Free Cash Flow Firm Growth		 0.00% 0.00% -1,108.90% 104.28%
Invested Capital Growth		 0.00% 0.00% 905.47% 10.72%
Revenue Q/Q Growth		 0.00% 0.00% 12.19% 32.39%
EBITDA Q/Q Growth		 0.00% 0.00% 0.15% 27.15%
EBIT Q/Q Growth		 0.00% 0.00% 13.17% 46.19%
NOPAT Q/Q Growth		 0.00% 0.00% 8.80% 46.19%
Net Income Q/Q Growth		 0.00% 0.00% 23.05% 24.82%
EPS Q/Q Growth		 0.00% 0.00% 23.05% -39.37%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 88.13% -89.81%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% -63.30%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 0.00%
Profitability Metrics		 - - - -
EBITDA Margin		 31.38% 100.96% 82.29% 43.74%
EBIT Margin		 83.91% 52.66% 63.46% 76.66%
Profit (Net Income) Margin		 83.91% 52.66% 63.46% 76.66%
Tax Burden Percent		 100.00% 100.00% 104.02% 100.00%
Interest Burden Percent		 100.00% 100.00% 96.14% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 60.51% 11.28% 13.58%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 60.51% 12.31% 13.58%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 8,850,666,606.16% 9.61% 7.76%
Return on Equity (ROE)		 0.00% 8,850,666,666.67% 20.88% 21.35%
Cash Return on Invested Capital (CROIC)		 0.00% -139.49% -152.54% 3.41%
Operating Return on Assets (OROA)		 0.00% 30.21% 10.87% 12.37%
Return on Assets (ROA)		 0.00% 30.21% 10.87% 12.37%
Return on Common Equity (ROCE)		 0.00% 8,850,666,666.67% 20.88% 21.16%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 10.44% 20.12%
Net Operating Profit after Tax (NOPAT)		 84 20 41 95
NOPAT Margin		 83.91% 52.66% 61.01% 76.66%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% -1.03% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 16.09% 47.34% 36.54% 23.35%
Earnings before Interest and Taxes (EBIT)		 84 20 43 95
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 32 38 55 54
Valuation Ratios		 - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.80 1.07
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.80 1.07
Price to Revenue (P/Rev)		 0.00 0.00 4.86 4.07
Price to Earnings (P/E)		 0.00 0.00 7.65 5.32
Dividend Yield		 9.29% 11.74% 11.14% 8.56%
Earnings Yield		 0.00% 0.00% 13.07% 18.78%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.87 1.04
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 8.60 6.17
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 10.45 14.11
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 13.55 8.05
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 14.10 8.05
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 235.42
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 32.08
Leverage & Solvency		 - - - -
Debt to Equity		 0.00 222,222.22 0.62 0.53
Long-Term Debt to Equity		 0.00 0.00 0.62 0.53
Financial Leverage		 0.00 146,268,805.80 0.78 0.57
Leverage Ratio		 0.00 146,486,671.24 1.92 1.73
Compound Leverage Factor		 0.00 146,486,671.24 1.85 1.73
Debt to Total Capital		 0.00% 100.00% 38.25% 34.67%
Short-Term Debt to Total Capital		 0.00% 100.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 38.25% 34.67%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 1.07%
Common Equity to Total Capital		 0.00% 0.00% 61.75% 64.26%
Debt to EBITDA		 0.00 0.00 4.57 4.70
Net Debt to EBITDA		 0.00 0.00 4.55 4.66
Long-Term Debt to EBITDA		 0.00 0.00 4.57 4.70
Debt to NOPAT		 0.00 0.01 6.17 2.68
Net Debt to NOPAT		 0.00 0.01 6.14 2.66
Long-Term Debt to NOPAT		 0.00 0.00 6.17 2.68
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.88%
Liquidity Ratios		 - - - -
Cash Flow Metrics		 - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -46 -555 24
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 -3.54 -26.62 1.10
Operating Cash Flow to Interest Expense		 -1.22 -5.89 -0.52 0.15
Operating Cash Flow Less CapEx to Interest Expense		 -1.22 -5.89 -0.52 0.15
Efficiency Ratios		 - - - -
Asset Turnover		 0.00 0.57 0.17 0.16
Fixed Asset Turnover		 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - -
Invested Capital		 0.00 66 662 733
Invested Capital Turnover		 0.00 1.15 0.18 0.18
Increase / (Decrease) in Invested Capital		 0.00 66 596 71
Enterprise Value (EV)		 0.00 0.00 578 763
Market Capitalization		 0.00 0.00 326 503
Book Value per Share		 $0.00 $0.00 $10.59 $21.65
Tangible Book Value per Share		 $0.00 $0.00 $10.59 $21.65
Total Capital		 0.00 0.10 662 733
Total Debt		 0.00 0.10 253 254
Total Long-Term Debt		 0.00 0.00 253 254
Net Debt		 0.00 0.10 252 252
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 0.00 0.00 -1.65 0.00
Net Nonoperating Obligations (NNO)		 0.00 66 253 254
Total Depreciation and Amortization (D&A)		 -53 18 13 -41
Earnings Adjustments		 - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $2.20 $2.11
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 18.66M 21.78M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $2.20 $2.11
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 18.66M 21.78M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 21.75M 22.33M
Normalized Net Operating Profit after Tax (NOPAT)		 59 14 29 66
Normalized NOPAT Margin		 58.74% 36.86% 42.71% 53.66%
Pre Tax Income Margin		 83.91% 52.66% 61.01% 76.66%
Debt Service Ratios		 - - - -
EBIT to Interest Expense		 7.32 1.54 2.05 4.36
NOPAT to Interest Expense		 7.32 1.54 1.97 4.36
EBIT Less CapEx to Interest Expense		 7.32 1.54 2.05 4.36
NOPAT Less CapEx to Interest Expense		 7.32 1.54 1.97 4.36
Payout Ratios		 - - - -
Dividend Payout Ratio		 30.81% 137.20% 82.98% 45.55%
Augmented Payout Ratio		 30.81% 137.20% 82.98% 45.55%

Quarterly Metrics And Ratios for Gladstone Capital Co. 7.75% Notes due 2028

This table displays calculated financial ratios and metrics derived from Gladstone Capital Co. 7.75% Notes due 2028's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 6/30/2022 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% -8.93% 30.03% 1,014.12% 74.70% 79.04% 0.00% 54.09% 176.95% 26.22%
EBITDA Growth		 0.00% 0.00% -3.02% 19.67% 1,640.86% 1.05% -41.62% 28.13% 8.49% 145.08% 448.02%
EBIT Growth		 0.00% 0.00% -27.91% 44.36% 312.25% 97.24% 129.24% 97.23% 61.09% 297.13% 35.72%
NOPAT Growth		 0.00% 0.00% -27.91% 44.36% 403.22% 64.97% 129.24% 97.23% 61.09% 374.81% 35.72%
Net Income Growth		 0.00% 0.00% -52.92% 44.36% 312.25% 156.51% 251.02% 0.00% 61.09% 143.79% 35.72%
EPS Growth		 0.00% 0.00% -7.41% 44.36% 312.25% 156.51% 251.02% 0.00% -8.06% 108.57% -9.09%
Operating Cash Flow Growth		 0.00% 0.00% 696.25% -207.79% 61.94% 139.57% -175.81% 59.21% 353.15% -124.90% 191.66%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 129.24% -5,625.96% 77.28% 94.73% -3,687.46%
Invested Capital Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 905.47% 0.00% 0.00% 25.68% 10.72% 0.00%
Revenue Q/Q Growth		 -113.81% 611.51% 49.95% 22.78% -2.93% -2.24% 53.67% 18.56% -13.48% 75.71% -29.97%
EBITDA Q/Q Growth		 -110.92% 908.21% 175.51% -50.77% 40.58% -46.99% 59.17% 8.03% 19.03% 19.74% 255.92%
EBIT Q/Q Growth		 -167.43% 191.21% 70.84% 37.38% -0.85% -15.24% 98.56% 18.19% -19.02% 108.96% -32.14%
NOPAT Q/Q Growth		 -147.20% 230.30% 70.84% 37.38% -0.85% -29.11% 137.40% 18.19% -19.02% 108.96% -32.14%
Net Income Q/Q Growth		 -167.43% 191.21% 11.57% 110.35% -0.85% 10.23% 52.68% 18.19% -19.02% 66.82% -15.00%
EPS Q/Q Growth		 -20.00% 191.21% -16.67% 110.35% -0.85% 10.23% 52.68% 18.19% 128.00% 156.14% -65.75%
Operating Cash Flow Q/Q Growth		 -229.49% -2.72% 159.73% -235.67% 54.28% 206.80% -214.43% 27.00% 383.75% -110.50% 521.30%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% -6,147.44% -3.09% -5,044.15% 103.40% -3,411.54% 81.34% -261.61% -2,219.17%
Invested Capital Q/Q Growth		 0.00% 0.00% -100.00% 0.00% 3.00% 0.00% -100.00% 0.00% 1.83% 0.00% 1.63%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 0.00% 80.49% 147.89% 59.29% 85.87% 46.56% 48.23% 43.94% 60.46% 41.20% 209.39%
EBIT Margin		 0.00% 52.22% 59.50% 66.57% 67.99% 58.95% 76.18% 75.94% 71.09% 84.54% 81.92%
Profit (Net Income) Margin		 0.00% 52.22% 38.85% 66.57% 67.99% 76.67% 76.18% 75.94% 71.09% 67.49% 81.92%
Tax Burden Percent		 100.00% 100.00% 65.31% 100.00% 100.00% 155.49% 100.00% 100.00% 100.00% 79.83% 100.00%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 83.64% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 30.00% 0.00% 10.00% 14.66% 9.11% 0.00% 0.00% 11.49% 14.98% 28.70%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 30.00% 0.00% 10.00% 14.66% 12.04% 0.00% 0.00% 11.49% 11.80% 28.70%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 4,388,585,132.46% 0.00% 5.79% 8.11% 9.40% 0.00% 0.00% 6.47% 6.74% 14.88%
Return on Equity (ROE)		 0.00% 4,388,585,162.46% 0.00% 15.79% 22.77% 18.51% 0.00% 0.00% 17.96% 21.72% 43.58%
Cash Return on Invested Capital (CROIC)		 0.00% -69.75% 0.00% 0.00% 0.00% -152.54% 0.00% -200.00% -11.40% 3.41% -172.64%
Operating Return on Assets (OROA)		 0.00% 29.96% 0.00% 3.86% 5.58% 10.09% 0.00% 0.00% 9.58% 13.64% 13.10%
Return on Assets (ROA)		 0.00% 29.96% 0.00% 3.86% 5.58% 13.13% 0.00% 0.00% 9.58% 10.89% 13.10%
Return on Common Equity (ROCE)		 0.00% 4,388,585,162.46% 0.00% 15.79% 22.77% 18.51% 0.00% 0.00% 17.84% 21.53% 42.68%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 5.03% 9.69% 0.00% 0.00% 0.00% 17.28% 0.00% 21.21%
Net Operating Profit after Tax (NOPAT)		 -3.92 5.11 8.73 12 12 8.43 20 24 19 40 27
NOPAT Margin		 0.00% 52.22% 59.50% 66.57% 67.99% 49.31% 76.18% 75.94% 71.09% 84.54% 81.92%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% -2.93% 0.00% 0.00% 0.00% 3.18% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 14.87% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 47.78% 40.50% 33.43% 32.01% 41.05% 23.82% 24.06% 28.91% 15.46% 18.08%
Earnings before Interest and Taxes (EBIT)		 -5.60 5.11 8.73 12 12 10 20 24 19 40 27
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -0.97 7.87 22 11 15 7.96 13 14 16 19 69
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.83 0.87 0.80 0.00 0.99 1.08 1.07 1.31
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.83 0.87 0.80 0.00 0.99 1.08 1.07 1.31
Price to Revenue (P/Rev)		 0.00 0.00 0.00 7.02 5.18 4.86 5.31 0.00 4.67 4.07 4.84
Price to Earnings (P/E)		 0.00 0.00 0.00 16.55 8.96 7.65 7.35 0.00 6.25 5.32 6.22
Dividend Yield		 10.04% 11.74% 10.39% 10.78% 10.58% 11.14% 10.19% 10.21% 9.27% 8.56% 8.41%
Earnings Yield		 0.00% 0.00% 0.00% 6.04% 11.16% 13.07% 13.61% 0.00% 15.99% 18.78% 16.07%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.88 0.91 0.87 0.00 0.99 1.05 1.04 1.20
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 11.68 8.46 8.60 0.00 0.00 7.22 6.17 6.85
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 12.06 9.18 10.45 0.00 0.00 14.48 14.11 8.07
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 23.42 13.45 13.55 0.00 0.00 10.05 8.05 8.78
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 23.42 13.45 14.10 0.00 0.00 10.28 8.05 8.78
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 23.03 235.42 16.74
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 32.08 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 222,222.22 0.00 0.58 0.55 0.62 0.00 0.59 0.57 0.53 0.52
Long-Term Debt to Equity		 0.00 0.00 0.00 0.58 0.55 0.62 0.00 0.59 0.57 0.53 0.52
Financial Leverage		 0.00 146,268,805.80 0.00 0.58 0.55 0.78 0.00 0.33 0.56 0.57 0.52
Leverage Ratio		 0.00 146,486,671.24 0.00 2.05 2.04 1.92 0.00 1.95 1.88 1.73 1.66
Compound Leverage Factor		 0.00 146,486,671.24 0.00 2.05 2.04 1.61 0.00 1.95 1.88 1.73 1.66
Debt to Total Capital		 0.00% 100.00% 0.00% 36.66% 35.60% 38.25% 0.00% 36.97% 36.34% 34.67% 34.14%
Short-Term Debt to Total Capital		 0.00% 100.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 36.66% 35.60% 38.25% 0.00% 36.97% 36.34% 34.67% 34.14%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.23% 0.80% 1.07% 1.36%
Common Equity to Total Capital		 0.00% 0.00% 0.00% 63.34% 64.40% 61.75% 0.00% 62.80% 62.86% 64.26% 64.50%
Debt to EBITDA		 0.00 0.00 0.00 5.04 3.58 4.57 0.00 0.00 5.02 4.70 2.30
Net Debt to EBITDA		 0.00 0.00 0.00 4.81 3.55 4.55 0.00 0.00 5.00 4.66 2.28
Long-Term Debt to EBITDA		 0.00 0.00 0.00 5.04 3.58 4.57 0.00 0.00 5.02 4.70 2.30
Debt to NOPAT		 0.00 0.01 0.00 9.78 5.25 6.17 0.00 0.00 3.57 2.68 2.50
Net Debt to NOPAT		 0.00 0.01 0.00 9.34 5.20 6.14 0.00 0.00 3.55 2.66 2.48
Long-Term Debt to NOPAT		 0.00 0.00 0.00 9.78 5.25 6.17 0.00 0.00 3.57 2.68 2.50
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.20% 0.70% 0.88% 2.06%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 0.00 8.73 -528 -544 -588 20 -662 -124 -31 -718
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 1.88 -107.48 -97.96 -102.08 3.97 -115.55 -22.43 -5.69 -151.28
Operating Cash Flow to Interest Expense		 -17.86 -15.25 7.46 -9.54 -3.86 3.97 -5.20 -3.33 9.84 -1.05 5.06
Operating Cash Flow Less CapEx to Interest Expense		 -17.86 -15.25 7.46 -9.54 -3.86 3.97 -5.20 -3.33 9.84 -1.05 5.06
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.57 0.00 0.06 0.08 0.17 0.00 0.00 0.13 0.16 0.16
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 0.00 66 0.00 540 556 662 0.00 686 699 733 745
Invested Capital Turnover		 0.00 0.57 0.00 0.15 0.22 0.18 0.00 0.00 0.16 0.18 0.35
Increase / (Decrease) in Invested Capital		 0.00 0.00 0.00 540 556 596 0.00 686 143 71 745
Enterprise Value (EV)		 0.00 0.00 0.00 473 507 578 0.00 677 732 763 894
Market Capitalization		 0.00 0.00 0.00 285 311 326 419 427 474 503 632
Book Value per Share		 $0.00 $0.00 $0.00 $9.36 $9.56 $10.59 $0.00 $9.90 $20.18 $21.65 $21.51
Tangible Book Value per Share		 $0.00 $0.00 $0.00 $9.36 $9.56 $10.59 $0.00 $9.90 $20.18 $21.65 $21.51
Total Capital		 0.00 0.10 0.00 540 556 662 0.00 686 699 733 745
Total Debt		 0.00 0.10 0.00 198 198 253 0.00 254 254 254 254
Total Long-Term Debt		 0.00 0.00 0.00 198 198 253 0.00 254 254 254 254
Net Debt		 0.00 0.10 0.00 189 196 252 0.00 248 253 252 252
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 1.68 0.00 3.03 0.00 0.00 -4.68 0.00 0.00 0.00 8.07 0.00
Net Nonoperating Obligations (NNO)		 0.00 66 0.00 198 198 253 0.00 254 254 254 254
Total Depreciation and Amortization (D&A)		 4.63 2.77 13 -1.31 3.12 -2.12 -7.34 -9.96 -2.86 -21 42
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.60 $0.50 $0.52 $0.62 $1.40 $0.54 $0.25 $0.57 $1.46 $0.50
Adjusted Weighted Average Basic Shares Outstanding		 0.00 8.59M 17.60M 18.30M 18.84M 9.33M 21.75M 43.51M 21.75M 21.78M 22.31M
Adjusted Diluted Earnings per Share		 $0.00 $0.60 $0.50 $0.52 $0.62 $1.40 $0.54 $0.25 $0.57 $1.46 $0.50
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 8.59M 17.60M 18.30M 18.84M 9.33M 21.75M 43.51M 21.75M 21.78M 22.31M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.60 $0.00 $0.00 $0.00 $1.40 $0.00 $0.00 $0.00 $1.46 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 18.26M 18.72M 19.30M 21.75M 21.75M 21.75M 21.75M 22.33M 22.33M
Normalized Net Operating Profit after Tax (NOPAT)		 -3.92 3.57 6.11 8.39 8.32 5.90 14 17 13 28 19
Normalized NOPAT Margin		 0.00% 36.55% 41.65% 46.60% 47.60% 34.52% 53.32% 53.16% 49.76% 59.18% 57.34%
Pre Tax Income Margin		 0.00% 52.22% 59.50% 66.57% 67.99% 49.31% 76.18% 75.94% 71.09% 84.54% 81.92%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -1.78 1.35 1.88 2.44 2.14 1.75 3.97 4.12 3.48 7.35 5.72
NOPAT to Interest Expense		 -1.24 1.35 1.88 2.44 2.14 1.46 3.97 4.12 3.48 7.35 5.72
EBIT Less CapEx to Interest Expense		 -1.78 1.35 1.88 2.44 2.14 1.75 3.97 4.12 3.48 7.35 5.72
NOPAT Less CapEx to Interest Expense		 -1.24 1.35 1.88 2.44 2.14 1.46 3.97 4.12 3.48 7.35 5.72
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 137.20% 207.50% 172.17% 91.52% 82.98% 68.06% 0.00% 56.63% 45.55% 51.40%
Augmented Payout Ratio		 0.00% 137.20% 207.50% 172.17% 91.52% 82.98% 68.06% 0.00% 56.63% 45.55% 51.40%

Key Financial Trends

Gladstone Capital Corp (NASDAQ:GLAD) has demonstrated steady financial performance over the past several quarters through Q1 2025, with some notable trends emerging across its income, cash flow, and balance sheet data.

Positive Highlights:

  • Q1 2025 net income attributable to common shareholders reached $26.98 million, almost matching Q4 2024’s $31.82 million, reflecting strong ongoing profitability.
  • In Q1 2025, net interest income stood at $16.58 million, supported by stable investment securities interest income of $21.32 million.
  • Q1 2025 total revenue of $33.14 million was robust, driven by $15.96 million in net realized and unrealized capital gains on investments, showcasing effective investment management.
  • Depreciation expenses in Q1 2025 were $41.89 million, reflecting non-cash charges that add back to operating cash flow, aiding cash generation.
  • Net cash from continuing operating activities was positive at $23.99 million in Q1 2025, indicating efficient cash generation from core business operations.
  • The company's total common equity increased to approximately $480.3 million by Q1 2025, supported by strong retained earnings recovery from previous quarters.
  • Issuance of debt in Q1 2025 was $87.5 million while repayments were $96.6 million, indicating active debt management to optimize capital structure.
  • Cash dividends to common shares increased steadily, reaching $0.895 per share in Q1 2025, reflecting management's commitment to shareholder returns.
  • The weighted average diluted shares outstanding remained fairly stable around 22.3 million in Q1 2025 versus previous periods, helping maintain earnings per share integrity.

Neutral Factors:

  • The interest expense related to long-term debt in Q1 2025, approximately $4.74 million, contributes to financing costs but remains in line with previous quarters.
  • Restricted cash and accrued interest payable remained relatively unchanged quarter-over-quarter, indicating stable working capital management.
  • Total assets have grown modestly, from around $766.6 million in Q1 2024 to $815.6 million in Q1 2025, reflecting steady investment portfolio growth.

Negative Aspects:

  • Non-interest expenses, including insurance policy acquisition costs and other operating expenses, increased to $5.99 million in Q1 2025 from $4.09 million in Q4 2024, potentially impacting margins.
  • Net cash used in financing activities was -$24.42 million in Q1 2025, mainly due to debt repayments and dividend payments, which could constrain liquidity.
  • The company's retained earnings remain negative in Q1 2025 after several quarters, though improving, which may signal past losses or significant shareholder distributions.
  • Depreciation expense, though non-cash, has substantially increased year-over-year, which could impact reported profitability metrics if sustained.

Summary: Gladstone Capital Corp demonstrates consistent profitability with a stable revenue base heavily supported by investment securities income and capital gains. The company maintains a strong equity position with active debt management. While some expenses have risen, ongoing dividend increases and positive operating cash flows suggest financial resilience. Investors should monitor expense trends and retained earnings trajectory for potential impacts on future earnings and liquidity.

08/09/25 04:16 PMAI Generated. May Contain Errors.

Frequently Asked Questions About Gladstone Capital Co. 7.75% Notes due 2028's Financials

When does Gladstone Capital Co. 7.75% Notes due 2028's fiscal year end?

According to the most recent income statement we have on file, Gladstone Capital Co. 7.75% Notes due 2028's financial year ends in September. Their financial year 2024 ended on September 30, 2024.

How has Gladstone Capital Co. 7.75% Notes due 2028's net income changed over the last 3 years?

Gladstone Capital Co. 7.75% Notes due 2028's net income appears to be on an upward trend, with a most recent value of $94.72 million in 2024, rising from $84.30 million in 2021. The previous period was $42.67 million in 2023.

How has Gladstone Capital Co. 7.75% Notes due 2028's revenue changed over the last 3 years?

Over the last 3 years, Gladstone Capital Co. 7.75% Notes due 2028's total revenue changed from $100.46 million in 2021 to $123.57 million in 2024, a change of 23.0%.

How much debt does Gladstone Capital Co. 7.75% Notes due 2028 have?

Gladstone Capital Co. 7.75% Notes due 2028's total liabilities were at $333.73 million at the end of 2024, a 7.4% increase from 2023, and a 3.4% decrease since 2022.

How much cash does Gladstone Capital Co. 7.75% Notes due 2028 have?

In the past 2 years, Gladstone Capital Co. 7.75% Notes due 2028's cash and equivalents has ranged from $1.31 million in 2023 to $2.17 million in 2024, and is currently $2.17 million as of their latest financial filing in 2024.

How has Gladstone Capital Co. 7.75% Notes due 2028's book value per share changed over the last 3 years?

Over the last 3 years, Gladstone Capital Co. 7.75% Notes due 2028's book value per share changed from 0.00 in 2021 to 21.65 in 2024, a change of 2,164.6%.


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This page (NASDAQ:GLADZ) was last updated on 8/9/2025 by MarketBeat.com Staff
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