Gladstone Capital Corp Financials
This page shows Gladstone Capital Corp (GLAD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Gladstone Capital is expanding its asset base while cash conversion and leverage move less favorably.
FY2025 paired$57.2M of net income with-$5.5M of operating cash flow, so reported earnings did not convert into operating cash in the latest year. Dividends of$55.5M nearly matched net income, meaning the year's payout depended on more than operating cash generation.
Assets reached
Retained earnings remained negative at
Financial Health Signals
Gladstone Capital Corp does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Gladstone Capital Corp passes 1 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
For every $1 of reported earnings, Gladstone Capital Corp used $0.10 of operating cash (-$5.5M OCF vs $57.2M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Key Financial Metrics
Earnings & Revenue
Gladstone Capital Corp reported $57.2M in net income in fiscal year 2025. This represents a decrease of 39.5% from the prior year.
Gladstone Capital Corp earned $2.55 per diluted share (EPS) in fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Gladstone Capital Corp held $32.4M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Gladstone Capital Corp paid $2.48 per share in dividends in fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Gladstone Capital Corp's ROE was 11.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 8.2 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
None of these metrics is reported for fiscal year 2025.
GLAD Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Net Income | $13.3M-14.2% | $15.5M+183.4% | $5.5M | N/A | $7.4M-15.3% | $8.8M-67.4% | $27.0M | N/A |
| EPS (Diluted) | $0.56-11.1% | $0.63+162.5% | $0.24-61.3% | $0.62+87.9% | $0.33-34.0% | $0.50 | $0.500.0% | $0.50 |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, Interest Expense, Income Tax.
GLAD Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $970.1M+4.9% | $925.1M+0.2% | $922.8M+1.7% | $907.6M+16.3% | $780.2M+0.4% | $776.8M-4.8% | $815.6M+0.4% | $812.5M |
| Cash & Equivalents | $2.4M-30.7% | $3.4M-18.6% | $4.2M-87.1% | $32.4M+113.4% | $15.2M+473.9% | $2.6M+52.2% | $1.7M-20.1% | $2.2M |
| Total Liabilities | $439.4M+8.0% | $407.0M-2.2% | $416.3M+2.5% | $406.2M+39.5% | $291.2M+1.5% | $287.0M-11.8% | $325.2M-2.6% | $333.7M |
| Total Equity | $485.7M+0.6% | $482.6M+1.1% | $477.3M-1.0% | $482.0M+1.6% | $474.5M-0.8% | $478.1M-0.5% | $480.3M+2.0% | $470.9M |
| Retained Earnings | -$16.0M+16.3% | -$19.1M+21.7% | -$24.3M-24.0% | -$19.6M+2.9% | -$20.2M-21.7% | -$16.6M-15.7% | -$14.4M+33.1% | -$21.5M |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities, Long-Term Debt.
GLAD Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$36.9M-322.7% | $16.6M+149.0% | -$33.8M+65.0% | -$96.6M-573.6% | $20.4M-56.4% | $46.8M+94.9% | $24.0M+521.3% | -$5.7M |
| Financing Cash Flow | $35.8M+306.7% | -$17.3M-409.4% | $5.6M-95.1% | $113.7M+1539.4% | -$7.9M+82.8% | -$45.8M-87.7% | -$24.4M-461.6% | $6.8M |
| Dividends Paid | $10.2M0.0% | $10.2M0.0% | $10.2M-24.1% | $13.4M+21.1% | $11.1M0.0% | $11.1M-44.7% | $20.0M+84.4% | $10.8M |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Investing Cash Flow, Share Buybacks.
GLAD Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | 2.7%-0.5pp | 3.2%+2.1pp | 1.1% | N/A | 1.6%-0.3pp | 1.8%-3.8pp | 5.6% | N/A |
| Return on Assets | 1.4%-0.3pp | 1.7%+1.1pp | 0.6% | N/A | 0.9%-0.2pp | 1.1%-2.2pp | 3.3% | N/A |
| Debt-to-Equity | 0.90+0.1x | 0.840.0x | 0.870.0x | 0.84+0.2x | 0.610.0x | 0.60-0.1x | 0.680.0x | 0.71 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Current Ratio, FCF Margin.
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Where Gladstone Capital Corp Ranks
Frequently Asked Questions
Is Gladstone Capital Corp profitable?
Yes, Gladstone Capital Corp (GLAD) reported a net income of $57.2M in fiscal year 2025.
Does Gladstone Capital Corp pay dividends?
Yes, Gladstone Capital Corp (GLAD) paid $2.48 per share in dividends during fiscal year 2025.
What is Gladstone Capital Corp's return on equity (ROE)?
Gladstone Capital Corp (GLAD) has a return on equity of 11.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Gladstone Capital Corp's operating cash flow?
Gladstone Capital Corp (GLAD) recorded an outflow of $5.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Gladstone Capital Corp's total assets?
Gladstone Capital Corp (GLAD) had $907.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Gladstone Capital Corp's debt-to-equity ratio?
Gladstone Capital Corp (GLAD) had a debt-to-equity ratio of 0.84 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Gladstone Capital Corp's return on assets (ROA)?
Gladstone Capital Corp (GLAD) had a return on assets of 6.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Gladstone Capital Corp's Piotroski F-Score?
Gladstone Capital Corp (GLAD) has a Piotroski F-Score of 1 out of 5 computable signals; 4 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Gladstone Capital Corp's earnings high quality?
For every $1 of reported earnings, Gladstone Capital Corp (GLAD) used $0.10 of operating cash (-$5.5M OCF vs $57.2M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.