Loading...

You're on the old version of Simply Wall St. We will no longer be supporting this site, so we recommend you switch to our brand new platform.

Gladstone Capital

Nasdaq:GLAD
Snowflake Description

Undervalued with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GLAD
Nasdaq
$196M
Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

Gladstone Capital Corporation is a private equity and a venture capital fund specializing in lower middle market, growth capital, add on acquisitions, debt investments in senior loans, second lien loans, senior subordinated loans, junior subordinated loans, and mezzanine loans and equity investments in the form of common stock, preferred stock, limited liability company interests, or warrants. The last earnings update was 64 days ago. More info.


Add to Portfolio Compare Print
  • Gladstone Capital is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • Gladstone Capital has significant price volatility in the past 3 months.
GLAD Share Price and Events
7 Day Returns
27.1%
NasdaqGS:GLAD
5.7%
US Capital Markets
2.4%
US Market
1 Year Returns
-31.8%
NasdaqGS:GLAD
-8.3%
US Capital Markets
-10%
US Market
GLAD Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Gladstone Capital (GLAD) 27.1% -23.9% -37.3% -31.8% -34.9% -29.3%
US Capital Markets 5.7% -9% -20.5% -8.3% 8.4% 26.6%
US Market 2.4% -11% -19.4% -10% 9.6% 21.1%
1 Year Return vs Industry and Market
  • GLAD underperformed the Capital Markets industry which returned -8.3% over the past year.
  • GLAD underperformed the Market in United States of America which returned -10% over the past year.
Price Volatility
GLAD
Industry
5yr Volatility vs Market

Value

 Is Gladstone Capital 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 Capital 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 Capital.

NasdaqGS:GLAD 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
= $8.33 * 9.1%
$0.75
Book Value of Equity per Share Median Book Value from the past 5 years. $8.33
Discount Rate (Cost of Equity) See below 8%
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:GLAD
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 0.71
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.707 (1 + (1- 21%) (94.08%))
1.156
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.16
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (1.156 * 5.44%)
8.03%

Discounted Cash Flow Calculation for NasdaqGS:GLAD using Excess Returns Model Model

The calculations below outline how an intrinsic value for Gladstone Capital 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:GLAD Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.1% – 8.03%) * $8.33)
$0.09
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.09 / (8.03% - 1.74%)
$1.36
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $8.33 + $1.36
$9.7
NasdaqGS:GLAD Discount to Share Price
Calculation Result
Value per share (USD) From above. $9.70
Current discount Discount to share price of $6.29
= -1 x ($6.29 - $9.70) / $9.70
35.1%

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

Current Discount
Amount off the current price Gladstone Capital is available for.
Intrinsic value
35%
Share price is $6.29 vs Future cash flow value of $9.7
Current Discount Checks
For Gladstone Capital to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Gladstone Capital's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Gladstone Capital's share price is below the future cash flow value, but not 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 Capital's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Gladstone Capital's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:GLAD PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $0.82
NasdaqGS:GLAD Share Price ** NasdaqGS (2020-04-08) in USD $6.29
United States of America Capital Markets Industry PE Ratio Median Figure of 92 Publicly-Listed Capital Markets Companies 33.4x
United States of America Market PE Ratio Median Figure of 2,948 Publicly-Listed Companies 12.95x

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

** Primary Listing of Gladstone Capital.

NasdaqGS:GLAD PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 6.29 ÷ 0.82

7.71x

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

  • Gladstone Capital is good value based on earnings compared to the US Capital Markets industry average.
  • Gladstone Capital is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Gladstone Capital's expected growth come at a high price?
Raw Data
NasdaqGS:GLAD PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.71x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
8.9%per year
United States of America Capital Markets Industry PEG Ratio Median Figure of 36 Publicly-Listed Capital Markets Companies 1.87x
United States of America Market PEG Ratio Median Figure of 2,010 Publicly-Listed Companies 0.92x

*Line of best fit is calculated by linear regression .

NasdaqGS:GLAD PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.71x ÷ 8.9%

0.87x

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

  • Gladstone Capital is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Gladstone Capital's assets?
Raw Data
NasdaqGS:GLAD PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $8.08
NasdaqGS:GLAD Share Price * NasdaqGS (2020-04-08) in USD $6.29
United States of America Capital Markets Industry PB Ratio Median Figure of 192 Publicly-Listed Capital Markets Companies 8.59x
United States of America Market PB Ratio Median Figure of 5,162 Publicly-Listed Companies 1.26x
NasdaqGS:GLAD PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 6.29 ÷ 8.08

0.78x

* Primary Listing of Gladstone Capital.

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

  • Gladstone Capital is good value based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess Gladstone Capital'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 Capital has a total score of 5/6, 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.

Future Performance

 How is Gladstone Capital expected to perform in the next 1 to 3 years based on estimates from 3 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
8.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Gladstone Capital expected to grow at an attractive rate?
  • Gladstone Capital's earnings growth is expected to exceed the low risk savings rate of 1.7%.
Growth vs Market Checks
  • Gladstone Capital's earnings growth is positive but not above the United States of America market average.
  • Gladstone Capital's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:GLAD Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:GLAD Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 8.9%
NasdaqGS:GLAD Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 8.1%
United States of America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 4.9%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.3%
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:GLAD Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:GLAD Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-09-30 57 26 3
2020-09-30 52 20 3
2020-04-09
NasdaqGS:GLAD Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 50 28 24
2019-09-30 50 9 20
2019-06-30 49 4 5
2019-03-31 48 25 8
2018-12-31 47 -24 8
2018-09-30 46 -18 19
2018-06-30 45 -21 34
2018-03-31 42 -55 28
2017-12-31 40 -81 23
2017-09-30 39 -13 17
2017-06-30 38 -6 32
2017-03-31 38 7 32

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Gladstone Capital's earnings are expected to grow by 8.9% yearly, however this is not considered high growth (20% yearly).
  • Gladstone Capital's revenue is expected to grow by 8.1% yearly, however this is not considered high growth (20% yearly).
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:GLAD 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 3 Analyst Estimates (S&P Global) See Below

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

NasdaqGS:GLAD Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-09-30 0.84 0.84 0.84 1.00
2020-09-30 0.66 0.66 0.65 2.00
2020-04-09
NasdaqGS:GLAD Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 0.82
2019-09-30 0.68
2019-06-30 0.16
2019-03-31 0.28
2018-12-31 0.28
2018-09-30 0.69
2018-06-30 1.28
2018-03-31 1.07
2017-12-31 0.90
2017-09-30 0.67
2017-06-30 1.31
2017-03-31 1.31

*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.
  • Unable to establish if Gladstone Capital will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Gladstone Capital'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 Capital has a total score of 2/6, 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.

Past Performance

  How has Gladstone Capital 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 Capital'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 Capital's year on year earnings growth rate has been positive over the past 5 years.
  • Gladstone Capital's 1-year earnings growth exceeds its 5-year average (212% vs 14.6%)
  • Gladstone Capital's earnings growth has exceeded the US Capital Markets industry average in the past year (212% vs 9.7%).
Earnings and Revenue History
Gladstone Capital'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 Capital Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:GLAD 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 50.29 24.28 12.85
2019-09-30 50.04 19.87 12.97
2019-06-30 48.57 4.57 12.56
2019-03-31 48.07 7.81 12.91
2018-12-31 46.63 7.78 12.44
2018-09-30 45.58 18.65 12.52
2018-06-30 45.16 34.00 12.66
2018-03-31 42.41 28.07 10.89
2017-12-31 40.12 23.42 9.60
2017-09-30 39.23 17.18 9.48
2017-06-30 38.15 32.43 9.21
2017-03-31 38.36 31.78 10.15
2016-12-31 39.03 20.99 11.21
2016-09-30 39.11 11.37 11.53
2016-06-30 39.54 -14.02 11.15
2016-03-31 39.63 -16.23 10.94
2015-12-31 39.39 -0.55 11.51
2015-09-30 38.06 8.48 11.31
2015-06-30 36.57 36.18 11.29
2015-03-31 36.81 12.70 11.66
2014-12-31 36.92 1.06 11.66
2014-09-30 36.59 11.23 11.00
2014-06-30 37.26 16.90 11.58
2014-03-31 35.63 35.02 10.81
2013-12-31 34.72 34.36 9.83
2013-09-30 36.15 32.22 10.63
2013-06-30 36.85 9.01 11.25

*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 Capital has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Gladstone Capital used its assets more efficiently than the US Capital Markets industry average last year based on Return on Assets.
  • Gladstone Capital's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Gladstone Capital'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 Capital has a total score of 4/6, 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.

Health

 How is Gladstone Capital'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 Capital's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Gladstone Capital is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Gladstone Capital's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Gladstone Capital'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 0x 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 Capital Company Filings, last reported 3 months ago.

NasdaqGS:GLAD Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 250.79 184.35 1.77
2019-09-30 249.33 173.17 15.71
2019-06-30 246.19 165.40 0.23
2019-03-31 234.92 158.05 1.62
2018-12-31 227.43 207.78 0.27
2018-09-30 237.09 160.08 1.97
2018-06-30 244.95 167.01 2.42
2018-03-31 231.73 177.74 1.82
2017-12-31 225.72 180.70 4.50
2017-09-30 219.65 142.96 5.01
2017-06-30 216.98 141.90 7.00
2017-03-31 212.67 113.53 5.01
2016-12-31 213.39 87.44 5.78
2016-09-30 201.21 130.66 6.15
2016-06-30 185.51 134.30 5.02
2016-03-31 185.20 118.30 5.80
2015-12-31 196.47 118.50 13.81
2015-09-30 191.44 188.30 3.81
2015-06-30 200.64 165.60 7.82
2015-03-31 201.17 175.79 5.52
2014-12-31 195.58 145.08 6.38
2014-09-30 199.66 99.01 6.31
2014-06-30 180.99 97.56 7.78
2014-03-31 205.58 99.01 6.39
2013-12-31 212.09 86.41 9.09
2013-09-30 205.99 85.60 13.90
2013-06-30 180.68 98.03 16.99
  • Gladstone Capital's level of debt (73.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (74.3% vs 73.5% today).
  • Debt is not well covered by operating cash flow (15.4%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 3x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Gladstone Capital'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 Capital has a total score of 2/6, 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.

Dividends

 What is Gladstone Capital'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
13.35%
Current annual income from Gladstone Capital dividends. Estimated to be 13.35% next year.
If you bought $2,000 of Gladstone Capital shares you are expected to receive $267 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 Capital's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.93%).
  • Gladstone Capital's dividend is above the markets top 25% of dividend payers in United States of America (5.46%).
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:GLAD 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 3 Analyst Estimates (S&P Global) See Below
United States of America Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 44 Stocks 2.4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1935 Stocks 2.9%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.9%
United States of America Top 25% Dividend Yield 75th Percentile 5.5%

Industry and Market average data is calculated daily.

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

NasdaqGS:GLAD Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-09-30 0.84 3.00
2020-09-30 0.84 3.00
2020-04-09
NasdaqGS:GLAD Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-01-14 0.840 10.745
2019-10-08 0.840 8.326
2019-07-09 0.840 8.891
2019-04-09 0.840 8.999
2019-01-08 0.840 9.442
2018-10-09 0.840 9.803
2018-07-10 0.840 8.804
2018-04-10 0.840 9.366
2018-01-09 0.840 9.416
2017-10-10 0.840 8.743
2017-07-11 0.840 8.830
2017-04-11 0.840 8.546
2017-01-10 0.840 9.007
2016-10-11 0.840 9.931
2016-07-12 0.840 10.232
2016-04-12 0.840 11.510
2016-01-12 0.840 12.859
2015-10-14 0.840 10.364
2015-07-14 0.840 9.948
2015-04-15 0.840 9.973
2015-01-13 0.840 10.059
2014-10-07 0.840 9.531
2014-07-15 0.840 8.913
2014-04-08 0.840 8.570
2014-01-07 0.840 8.523
2013-10-08 0.840 9.075
2013-07-09 0.840 9.834
2013-04-09 0.840 9.724
2013-01-08 0.840 9.248
2012-10-10 0.840 10.005
2012-07-10 0.840 9.813
2012-04-11 0.840 10.704
2012-01-10 0.840 9.892
2011-10-11 0.840 10.864
2011-07-12 0.840 10.551
2011-04-12 0.840 8.197
2011-01-11 0.840 7.409
2010-10-05 0.840 7.261
2010-07-07 0.840 7.520
2010-04-07 0.840 7.186
2010-01-12 0.840 8.978
2009-10-06 0.840 10.319
2009-07-08 0.840 9.817
2009-05-19 0.840 11.399
2009-04-16 0.840 13.008

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.
  • No dividend growth in 10 years.
Current Payout to shareholders
What portion of Gladstone Capital's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Gladstone Capital'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 Capital afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Gladstone Capital has a total score of 3/6, see the detailed checks below.


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

Management

 What is the CEO of Gladstone Capital'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
COMPENSATION $0
AGE 77
TENURE AS CEO 18.9 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 Capital management team in years:

10.5
Average Tenure
66
Average Age
  • The average tenure for the Gladstone Capital 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
18.9 yrs

Terry Brubaker

TITLE
Vice Chairman
AGE
75
TENURE
18.9 yrs

Bob Marcotte

TITLE
Executive MD & President
AGE
61
TENURE
6.3 yrs

Nicole Schaltenbrand

TITLE
CFO & Treasurer
AGE
37
TENURE
4.1 yrs

Karin McLaughlin

TITLE
Investor Relation Specialist

Jack Dellafiora

TITLE
Chief Compliance Officer
TENURE
12.6 yrs

Michael LiCalsi

TITLE
General Counsel and Secretary
AGE
49
TENURE
10.5 yrs

Dave Dullum

TITLE
Executive VP
COMPENSATION
$28K
AGE
71
TENURE
8.3 yrs

John Freal

TITLE
Managing Director of Private Finance

John Sateri

TITLE
Managing Director of Private Finance
Board of Directors Tenure

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

16.3
Average Tenure
74
Average Age
  • The average tenure for the Gladstone Capital board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Terry Brubaker

TITLE
Vice Chairman
AGE
75
TENURE
16 yrs

Anthony Parker

TITLE
Independent Director
COMPENSATION
$49K
AGE
74
TENURE
18.7 yrs

David Gladstone

TITLE
Chairman & CEO
AGE
77
TENURE
18.9 yrs

Paul Adelgren

TITLE
Lead Director
COMPENSATION
$38K
AGE
76

John Outland

TITLE
Independent Director
COMPENSATION
$52K
AGE
74
TENURE
16.3 yrs

Caren Merrick

TITLE
Independent Director
COMPENSATION
$44K
AGE
59
TENURE
5.4 yrs

Michela English

TITLE
Independent Director
COMPENSATION
$37K
AGE
69
TENURE
17.8 yrs

Walter Wilkinson

TITLE
Independent Director
COMPENSATION
$41K
AGE
73
TENURE
5.5 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Gladstone Capital individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
17. Mar 20 Buy Nicole Schaltenbrand Individual 16. Mar 20 16. Mar 20 763 $6.55 $4,998
16. Mar 20 Buy Michael LiCalsi Individual 16. Mar 20 16. Mar 20 1,000 $6.74 $6,744
13. Mar 20 Buy Robert Marcotte Individual 12. Mar 20 12. Mar 20 10,000 $7.00 $69,950
13. Mar 20 Buy Nicole Schaltenbrand Individual 12. Mar 20 12. Mar 20 476 $7.01 $3,337
10. Mar 20 Buy Nicole Schaltenbrand Individual 09. Mar 20 09. Mar 20 254 $7.90 $2,007
25. Feb 20 Buy Robert Marcotte Individual 25. Feb 20 25. Feb 20 10,000 $9.49 $94,650
X
Management checks
We assess Gladstone Capital'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 Capital 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.

News

Simply Wall St News

Is Gladstone Capital Corporation's (GLAD) ROE Of 16.11% Sustainable?

Return on Equity = Net Profit ÷ Shareholders Equity ROE is measured against cost of equity in order to determine the efficiency of GLAD’s equity capital deployed. … ROE can be split up into three useful ratios: net profit margin, asset turnover, and financial leverage. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity NasdaqGS:GLAD Last Perf Nov 20th 17 Basically, profit margin measures how much of revenue trickles down into earnings which illustrates how efficient GLAD is with its cost management.

Simply Wall St -

Company Info

Description

Gladstone Capital Corporation is a private equity and a venture capital fund specializing in lower middle market, growth capital, add on acquisitions, debt investments in senior loans, second lien loans, senior subordinated loans, junior subordinated loans, and mezzanine loans and equity investments in the form of common stock, preferred stock, limited liability company interests, or warrants. It operates as a business development company. The fund also makes private equity investments in acquisitions, buyouts and recapitalizations, and refinancing existing debts. It targets small and medium-sized companies in United States. It invests in companies engaged in the business services, light and specialty manufacturing, niche industrial products and services, specialty consumer products and services, energy services, transportation and logistics, healthcare and education services, specialty chemicals, media and communications and aerospace and defense. The fund seeks to invest between $7 million and $30 million in companies that have between $20 million and $150 million in sales and EBITDA between $3 million and $25 million. It prefers to acquire minority stakes. It seeks to exit its investments through strategic acquisitions by other industry participants or financial buyers, initial public offerings of common stock, or other capital market transactions.

Details
Name: Gladstone Capital Corporation
GLAD
Exchange: NasdaqGS
Founded: 2001
$195,943,431
31,151,579
Website: http://www.gladstonecapital.com
Address: Gladstone Capital Corporation
1521 Westbranch Drive,
Suite 100,
McLean,
Virginia, 22102,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS GLAD Common Stock Nasdaq Global Select US USD 24. Aug 2001
DB 1G7 Common Stock Deutsche Boerse AG DE EUR 24. Aug 2001
Number of employees
Current staff
Staff numbers
0
Gladstone Capital employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/09 01:29
End of day share price update: 2020/04/08 00:00
Last estimates confirmation: 2020/04/01
Last earnings filing: 2020/02/05
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/09/30


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.