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Gladstone Investment

Nasdaq:GAIN.M
Snowflake Description

Very undervalued established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GAIN.M
Nasdaq
$234M
Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

Gladstone Investment Corporation is a private equity fund specializing in lower middle market, acquisitions, mature stage, buyouts; recapitalizations; refinancing existing debt; senior debt securities such as senior loans, senior term loans, lines of credit, and senior notes; senior subordinated debt securities such as senior subordinated loans and senior subordinated notes; junior subordinated debt securities such as subordinated notes and mezzanine loans; limited liability company interests, and warrants or options. The last earnings update was 61 days ago. More info.


Add to Portfolio Compare Print
  • Gladstone Investment is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
GAIN.M Share Price and Events
7 Day Returns
-1.9%
NasdaqGS:GAIN.M
-1.1%
US Capital Markets
-2.8%
US Market
1 Year Returns
-16%
NasdaqGS:GAIN.M
-14.5%
US Capital Markets
-15.9%
US Market
GAIN.M Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Gladstone Investment (GAIN.M) -1.9% -15% -16.6% -16% -16% -
US Capital Markets -1.1% -17.6% -24.9% -14.5% 0.6% 18.4%
US Market -2.8% -18.8% -24% -15.9% 2.8% 13.3%
1 Year Return vs Industry and Market
  • GAIN.M underperformed the Capital Markets industry which returned -14.5% over the past year.
  • GAIN.M matched the United States of America Market (-15.9%) over the past year.
Price Volatility
GAIN.M
Industry
5yr Volatility vs Market

GAIN.M Value

 Is Gladstone Investment undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Gladstone Investment to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Gladstone Investment.

NasdaqGS:GAIN.M Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $11.57 * 14.6%
$1.69
Book Value of Equity per Share Median Book Value from the past 5 years. $11.57
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:GAIN.M
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.74
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.743 (1 + (1- 21%) (59.19%))
1.061
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.06
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (1.061 * 5.44%)
7.51%

Discounted Cash Flow Calculation for NasdaqGS:GAIN.M using Excess Returns Model Model

The calculations below outline how an intrinsic value for Gladstone Investment is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGS:GAIN.M Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (14.6% – 7.51%) * $11.57)
$0.82
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.82 / (7.51% - 1.74%)
$14.14
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $11.57 + $14.14
$25.72
NasdaqGS:GAIN.M Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in NasdaqGS:GAIN.M represents 3.02691x of NasdaqGS:GAIN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
3.02691x
Value per Share
(Listing Adjusted, USD)
= Value per Share (USD) x Listing Adjustment Factor
= $ 25.72 x 3.02691
$77.84
Value per share (USD) From above. $77.84
Current discount Discount to share price of $21.40
= -1 x ($21.40 - $77.84) / $77.84
72.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Gladstone Investment is available for.
Intrinsic value
>50%
Share price is $21.4 vs Future cash flow value of $77.84
Current Discount Checks
For Gladstone Investment to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Gladstone Investment's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Gladstone Investment's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Gladstone Investment's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Gladstone Investment's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:GAIN.M PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $1.00
NasdaqGS:GAIN Share Price ** NasdaqGS (2020-04-03) in USD $7.07
United States of America Capital Markets Industry PE Ratio Median Figure of 92 Publicly-Listed Capital Markets Companies 33.66x
United States of America Market PE Ratio Median Figure of 2,947 Publicly-Listed Companies 12.21x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Gladstone Investment.

NasdaqGS:GAIN.M PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:GAIN Share Price ÷ EPS (both in USD)

= 7.07 ÷ 1.00

7.08x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Gladstone Investment is good value based on earnings compared to the US Capital Markets industry average.
  • Gladstone Investment is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Gladstone Investment's expected growth come at a high price?
Raw Data
NasdaqGS:GAIN.M PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.08x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
12.9%per year
United States of America Capital Markets Industry PEG Ratio Median Figure of 36 Publicly-Listed Capital Markets Companies 2.03x
United States of America Market PEG Ratio Median Figure of 2,010 Publicly-Listed Companies 0.88x

*Line of best fit is calculated by linear regression .

NasdaqGS:GAIN.M PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.08x ÷ 12.9%

0.55x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Gladstone Investment is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Gladstone Investment's assets?
Raw Data
NasdaqGS:GAIN.M PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $12.51
NasdaqGS:GAIN Share Price * NasdaqGS (2020-04-03) in USD $7.07
United States of America Capital Markets Industry PB Ratio Median Figure of 182 Publicly-Listed Capital Markets Companies 7.67x
United States of America Market PB Ratio Median Figure of 5,146 Publicly-Listed Companies 1.2x
NasdaqGS:GAIN.M PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:GAIN Share Price ÷ Book Value per Share (both in USD)

= 7.07 ÷ 12.51

0.57x

* Primary Listing of Gladstone Investment.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Gladstone Investment is good value based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess Gladstone Investment's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Gladstone Investment has a total score of 6/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

GAIN.M Future Performance

 How is Gladstone Investment expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
12.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Gladstone Investment expected to grow at an attractive rate?
  • Gladstone Investment's earnings growth is expected to exceed the low risk savings rate of 1.7%.
Growth vs Market Checks
  • Gladstone Investment's earnings growth is positive but not above the United States of America market average.
  • Gladstone Investment's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:GAIN.M Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:GAIN.M Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 12.9%
NasdaqGS:GAIN.M Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts -8.3%
United States of America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 5.3%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 2.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.4%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:GAIN.M Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:GAIN.M Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-03-31 56 60 1
2021-03-31 58 28 4
2020-04-05
2020-03-31 64 38 4
NasdaqGS:GAIN.M Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 66 89 33
2019-09-30 65 102 36
2019-06-30 61 73 55
2019-03-31 60 94 82
2018-12-31 59 86 101
2018-09-30 60 -21 102
2018-06-30 60 -45 85
2018-03-31 58 -30 61
2017-12-31 55 -47 48
2017-09-30 52 11 42
2017-06-30 51 37 28
2017-03-31 52 33 45

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Gladstone Investment's earnings are expected to grow by 12.9% yearly, however this is not considered high growth (20% yearly).
  • Gladstone Investment's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:GAIN.M Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Gladstone Investment Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:GAIN.M Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-03-31 1.83 1.83 1.83 1.00
2021-03-31 0.85 0.88 0.82 3.00
2020-04-05
2020-03-31 1.13 1.15 1.12 4.00
NasdaqGS:GAIN.M Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 1.00
2019-09-30 1.10
2019-06-30 1.69
2019-03-31 2.49
2018-12-31 3.09
2018-09-30 3.11
2018-06-30 2.60
2018-03-31 1.88
2017-12-31 1.52
2017-09-30 1.35
2017-06-30 0.93
2017-03-31 1.48

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Gladstone Investment is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Gladstone Investment's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Gladstone Investment has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

GAIN.M Past Performance

  How has Gladstone Investment performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Gladstone Investment's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Gladstone Investment's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Gladstone Investment's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Gladstone Investment's 1-year earnings growth is negative, it can't be compared to the US Capital Markets industry average.
Earnings and Revenue History
Gladstone Investment's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Gladstone Investment Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:GAIN.M Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 66.05 32.78 24.79
2019-09-30 65.01 35.95 23.10
2019-06-30 61.47 55.31 29.47
2019-03-31 59.66 81.59 35.62
2018-12-31 58.98 101.03 36.59
2018-09-30 60.20 101.68 36.87
2018-06-30 60.24 84.87 28.14
2018-03-31 58.36 60.69 21.89
2017-12-31 55.30 48.22 17.51
2017-09-30 52.49 42.03 17.06
2017-06-30 51.10 28.37 16.13
2017-03-31 51.88 44.76 15.36
2016-12-31 51.95 58.01 15.66
2016-09-30 50.65 40.84 15.02
2016-06-30 52.64 40.83 16.03
2016-03-31 50.96 24.85 16.21
2015-12-31 49.69 31.39 15.59
2015-09-30 49.18 45.20 14.87
2015-06-30 44.51 48.00 13.94
2015-03-31 41.64 50.21 12.96
2014-12-31 39.28 21.99 12.20
2014-09-30 36.42 3.72 11.94
2014-06-30 38.70 15.96 12.35
2014-03-31 36.26 -1.33 11.01
2013-12-31 37.93 13.68 11.88
2013-09-30 36.42 29.07 11.00
2013-06-30 32.03 13.78 9.55

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Gladstone Investment has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Gladstone Investment used its assets more efficiently than the US Capital Markets industry average last year based on Return on Assets.
  • Gladstone Investment's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Gladstone Investment's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Gladstone Investment has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

GAIN.M Health

 How is Gladstone Investment's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Gladstone Investment's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Gladstone Investment's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Gladstone Investment's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Gladstone Investment's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Gladstone Investment Company Filings, last reported 3 months ago.

NasdaqGS:GAIN.M Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 410.50 138.30 12.31
2019-09-30 406.83 180.88 2.17
2019-06-30 403.51 207.54 1.96
2019-03-31 407.11 186.58 1.70
2018-12-31 411.40 183.51 2.24
2018-09-30 403.57 248.94 2.17
2018-06-30 379.81 243.81 2.08
2018-03-31 354.20 248.21 3.64
2017-12-31 337.40 237.37 2.73
2017-09-30 328.55 197.02 2.43
2017-06-30 321.24 174.13 6.10
2017-03-31 301.08 209.63 2.87
2016-12-31 297.38 183.44 3.99
2016-09-30 292.10 203.06 5.10
2016-06-30 297.88 203.38 5.23
2016-03-31 279.02 218.56 4.48
2015-12-31 262.08 215.95 5.65
2015-09-30 273.97 230.25 5.69
2015-06-30 279.75 216.50 6.08
2015-03-31 273.43 205.30 4.92
2014-12-31 226.27 182.30 4.91
2014-09-30 224.77 132.85 3.05
2014-06-30 226.84 108.05 3.77
2014-03-31 220.84 106.70 4.55
2013-12-31 224.67 89.70 15.04
2013-09-30 241.44 101.35 47.24
2013-06-30 230.47 120.01 36.50
  • Gladstone Investment's level of debt (33.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (80.5% vs 33.7% today).
  • Debt is well covered by operating cash flow (64.7%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Gladstone Investment's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Gladstone Investment has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

GAIN.M Dividends

 What is Gladstone Investment's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
14.85%
Current annual income from Gladstone Investment dividends. Estimated to be 12.66% next year.
If you bought $2,000 of Gladstone Investment shares you are expected to receive $297 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Gladstone Investment's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (2.07%).
  • Gladstone Investment's dividend is above the markets top 25% of dividend payers in United States of America (5.82%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:GAIN.M Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United States of America Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 44 Stocks 2.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1936 Stocks 3.1%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 2.1%
United States of America Top 25% Dividend Yield 75th Percentile 5.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:GAIN.M Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-03-31 0.84 1.00
2021-03-31 0.91 5.00
2020-04-05
2020-03-31 0.91 5.00
NasdaqGS:GAIN.M Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-01-14 1.050 9.724
2019-10-08 1.026 7.576
2019-07-09 0.936 8.001
2019-04-09 0.966 8.199
2019-01-08 0.936 8.225
2018-10-09 0.936 9.461
2018-07-10 0.924 7.891
2018-04-10 0.924 8.118
2018-01-09 0.780 7.546
2017-10-10 0.780 7.279
2017-07-11 0.768 8.158
2017-04-11 0.768 8.217
2017-01-10 0.750 8.395
2016-10-11 0.750 8.974
2016-07-12 0.750 8.858
2016-04-12 0.750 10.714
2016-01-12 0.750 10.753
2015-10-14 0.750 9.839
2015-07-14 0.750 9.910
2015-04-15 0.750 9.745
2015-01-13 0.720 9.579
2014-10-07 0.720 10.011
2014-07-15 0.720 9.654
2014-04-08 0.720 9.375
2014-01-07 0.720 8.907
2013-10-08 0.720 9.683
2013-07-09 0.600 8.373
2013-04-09 0.600 8.203
2013-01-08 0.600 8.079
2012-10-10 0.600 8.409
2012-07-10 0.600 7.900
2012-04-11 0.600 8.210
2012-01-10 0.600 7.665
2011-10-11 0.600 8.213
2011-07-12 0.600 8.628
2011-04-12 0.540 7.373
2011-01-11 0.480 6.219
2010-10-05 0.480 6.373
2010-07-07 0.480 7.595
2010-04-07 0.480 8.160
2010-01-12 0.480 9.033
2009-10-06 0.480 10.105
2009-07-09 0.480 9.770
2009-04-16 0.480 11.821

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Gladstone Investment's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (0.9x coverage).
X
Income/ dividend checks
We assess Gladstone Investment's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Gladstone Investment afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Gladstone Investment has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

GAIN.M Management

 What is the CEO of Gladstone Investment's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
David Gladstone
AGE 77
TENURE AS CEO 15.2 years
CEO Bio

Mr. David John Gladstone is the Founder of The Gladstone Companies and has been its Chief Executive Officer and Chairman since inception in 2003. Mr. Gladstone founded Gladstone Commercial Corporation in 2003 and has been its Chief Executive Officer and Chairman since February 14, 2003. Mr. Gladstone has been a Director of Gladstone Commercial Corporation since February 14, 2003. He serves as the Chairman and Chief Executive Officer of Gladstone Management Corporation. Mr. Gladstone is the Founder of Gladstone Land Corporation and has been its Chairman, Chief Executive Officer and President since inception in 1997. Mr. Gladstone founded Gladstone Lending Corp. in December 2009 and has been its Chairman and Chief Executive Officer, since December 2009. Mr. Gladstone additionally serves on the Board of Managers of Gladstone Securities, LLC. He also founded and continues to serves as Chief Executive Officer and Chairman of affiliates, including Gladstone Capital Corporation, Gladstone Investment Corporation, Gladstone Land, Adviser, and Administrator. Mr. Gladstone was the Founder and Managing Member of The Capital Investors, LLC and is a member Emeritus. From 1974 to February 1997, Mr. Gladstone held various positions including the Chairman and Chief Executive Officer at Allied Capital Corp., Allied Capital Corporation II, Allied Capital Lending Corporation and Allied Capital Advisers Inc. From 1991 to 1997, Mr. Gladstone served as the President and Chairman of Allied Capital Commercial Corp. From 1991 to 1997, Mr. Gladstone served the Chairman and President of Allied Capital Commercial Corporation. From 1992 to 1997, he served as the President, Chief Executive Officer and Director of Business Mortgage Investors. He serves as Chairman of Dole Berry Company, LLC and is the Owner and Chairman of B & G Berry Corp. He served as a Trustee of The George Washington University and was a Trustee Emeritus. From August 1997 to August 2001, Mr. Gladstone served as Chairman or Vice Chairman of American Capital Strategies from August 1997 to August 2001. He was the Chairman of American Capital, Ltd. from 1997 to 1998. He served as Director of Capital Automotive REIT. He served as a Director of The Riggs National Corporation, from 1993 to May 1997, as well as at Riggs Bank, from 1991 to 1993. He has co- authored two books on financing for small and medium sized businesses, Venture Capital Handbook and Venture Capital Investing. He holds an M.B.A. Degree from the Harvard Business School, an M.A. from American University and a B.A. in Government and Economics from the University of Virginia.

CEO Compensation
  • Insufficient data for David to compare compensation growth.
  • Insufficient data for David to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Gladstone Investment management team in years:

12.6
Average Tenure
71
Average Age
  • The average tenure for the Gladstone Investment management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

David Gladstone

TITLE
Chairman & CEO
AGE
77
TENURE
15.2 yrs

Terry Brubaker

TITLE
Vice Chairman & COO
AGE
75
TENURE
15.2 yrs

Dave Dullum

TITLE
President
COMPENSATION
$33K
AGE
71
TENURE
12 yrs

Michael LiCalsi

TITLE
President
AGE
49
TENURE
1.8 yrs

Julia Ryan

TITLE
CFO & Treasurer
COMPENSATION
$66K
AGE
38
TENURE
4.8 yrs

Karin McLaughlin

TITLE
Investor Relations Specialist

Jack Dellafiora

TITLE
Chief Compliance Officer
TENURE
12.6 yrs

Paula Novara

TITLE
Head of Resources Management
TENURE
16 yrs

Erika Highland

TITLE
Managing Director

Kyle Largent

TITLE
Senior Managing Director
Board of Directors Tenure

Average tenure and age of the Gladstone Investment board of directors in years:

14.8
Average Tenure
74
Average Age
  • The average tenure for the Gladstone Investment board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Terry Brubaker

TITLE
Vice Chairman & COO
AGE
75
TENURE
15.2 yrs

Anthony Parker

TITLE
Director
COMPENSATION
$49K
AGE
74
TENURE
14.8 yrs

David Gladstone

TITLE
Chairman & CEO
AGE
77
TENURE
15.2 yrs

John Outland

TITLE
Director
COMPENSATION
$52K
AGE
74
TENURE
14.8 yrs

Paul Adelgren

TITLE
Lead Independent Director
COMPENSATION
$38K
AGE
76

Michela English

TITLE
Director
COMPENSATION
$37K
AGE
69
TENURE
14.8 yrs

Walter Wilkinson

TITLE
Director
COMPENSATION
$41K
AGE
73
TENURE
5.5 yrs

Caren Merrick

TITLE
Director
COMPENSATION
$44K
AGE
59
TENURE
5.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Gladstone Investment's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Gladstone Investment has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

GAIN.M News

Simply Wall St News

GAIN.M Company Info

Description

Gladstone Investment Corporation is a private equity fund specializing in lower middle market, acquisitions, mature stage, buyouts; recapitalizations; refinancing existing debt; senior debt securities such as senior loans, senior term loans, lines of credit, and senior notes; senior subordinated debt securities such as senior subordinated loans and senior subordinated notes; junior subordinated debt securities such as subordinated notes and mezzanine loans; limited liability company interests, and warrants or options. The fund does not invest in start-ups. The fund seek to invest in manufacturing, consumer products and business services/ distribution sector. It seeks to invest in small and mid-sized companies based in the United States. The fund prefers to make debt investments between $5 million and $30 million and equity investments between $10 million and $40 million in companies. The fund seeks to invest in companies with sales between $20 million and $100 million. The fund invest in companies with EBITDA from $3 million to $20 million. It seeks minority equity ownership and prefers to hold a board seat in its portfolio companies. It also prefers to take majority stake in its portfolio companies. The fund typically holds its investments for seven years and exits via sale or recapitalization, initial public offering, or sale to third party.

Details
Name: Gladstone Investment Corporation
GAIN.M
Exchange: NasdaqGS
Founded: 2005
$233,659,703
33,049,463
Website: http://www.gladstoneinvestment.com
Address: Gladstone Investment Corporation
1521 Westbranch Drive,
Suite 100,
McLean,
Virginia, 22102,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS GAIN Common Stock Nasdaq Global Select US USD 23. Jun 2005
DB 1G3 Common Stock Deutsche Boerse AG DE EUR 23. Jun 2005
LSE 0IVR Common Stock London Stock Exchange GB USD 23. Jun 2005
NasdaqGS GAIN.L 6.375% PFD SER E Nasdaq Global Select US USD 15. Aug 2018
NasdaqGS GAIN.M PFD SER D Nasdaq Global Select US USD 21. Sep 2016
Number of employees
Current staff
Staff numbers
0
Gladstone Investment employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/05 06:57
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/04/03
Last earnings filing: 2020/02/04
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.