Gladstone Commercial (GOODN) Financials

$22.24 +0.45 (+2.04%)

Closing price 04/17/2025 03:58 PM Eastern

Extended Trading

$22.16 -0.08 (-0.36%)

As of 04/17/2025 04:05 PM Eastern

Annual Income Statements for Gladstone Commercial

This table shows Gladstone Commercial's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	-1.53	-7.74	11
Consolidated Net Income / (Loss)	11	4.92	24
Net Income / (Loss) Continuing Operations	11	4.92	24
Total Pre-Tax Income	11	4.92	24
Total Revenue	159	155	164
Net Interest Income / (Expense)	0.00	0.00	0.00
Total Interest Income	0.00	0.00	0.00
Total Interest Expense	0.00	0.00	0.00
Total Non-Interest Income	159	155	164
Net Realized & Unrealized Capital Gains on Investments	10	7.74	14
Other Non-Interest Income	149	148	149
Total Non-Interest Expense	116	116	103
Net Occupancy & Equipment Expense	27	26	25
Insurance Policy Acquisition Costs	5.27	0.00	4.49
Other Operating Expenses	12	13	10
Depreciation Expense	60	58	56
Impairment Charge	12	19	6.82
Nonoperating Income / (Expense), net	-32	-34	-37
Preferred Stock Dividends Declared	12	13	13
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.02	-0.06	0.04
Basic Earnings per Share	($0.04)	($0.19)	$0.27
Weighted Average Basic Shares Outstanding	38.95M	39.94M	41.77M
Diluted Earnings per Share	($0.04)	($0.19)	$0.27
Weighted Average Diluted Shares Outstanding	38.95M	39.94M	41.77M
Weighted Average Basic & Diluted Shares Outstanding	39.99M	40.00M	44.19M
Cash Dividends to Common per Share	$1.50	$1.20	$1.20

This table shows Gladstone Commercial'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
Net Income / (Loss) Attributable to Common Shareholders	-0.31	-0.09	0.04	-7.69	-1.42	1.33	0.30	-1.61	8.47	3.97
Consolidated Net Income / (Loss)	2.79	2.98	3.17	-4.59	1.79	4.55	3.53	1.60	12	7.19
Net Income / (Loss) Continuing Operations	2.79	2.98	3.17	-4.59	1.79	4.55	3.53	1.60	12	7.19
Total Pre-Tax Income	2.79	2.98	3.17	-4.59	1.79	4.55	3.53	1.60	12	7.19
Total Revenue	40	61	28	38	41	48	27	37	50	50
Net Interest Income / (Expense)	-9.11	23	-8.83	0.00	0.00	8.83	-9.50	0.00	0.00	9.50
Total Interest Expense	9.11	-23	8.83	0.00	0.00	-8.83	9.50	0.00	0.00	-9.50
Total Non-Interest Income	49	38	37	38	41	39	36	37	50	41
Net Realized & Unrealized Capital Gains on Investments	8.90	-	0.00	-0.45	4.70	3.49	0.58	-0.05	10	3.37
Other Non-Interest Income	40	37	37	39	36	36	36	37	39	37
Total Non-Interest Expense	37	26	25	34	30	28	23	26	29	25
Net Occupancy & Equipment Expense	6.54	6.71	6.73	6.74	6.82	5.57	5.88	5.81	6.68	7.05
Insurance Policy Acquisition Costs	1.51	1.08	0.00	0.00	0.00	-	0.40	1.00	0.75	2.34
Other Operating Expenses	2.92	3.04	3.23	3.22	3.53	3.11	3.21	3.16	3.22	0.70
Depreciation Expense	15	15	15	17	12	14	13	16	13	13
Impairment Charge	11	-	0.00	6.82	6.75	5.72	0.49	0.00	4.55	1.78
Nonoperating Income / (Expense), net	0.32	-33	0.11	-9.08	-9.78	-16	0.03	-9.44	-9.29	-18
Preferred Stock Dividends Declared	3.10	3.09	3.13	3.17	3.21	3.20	3.22	3.23	3.21	3.21
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.00	-0.01	-0.01	-0.07	0.00	0.01	0.00	-0.01	0.04	0.01
Basic Earnings per Share	($0.01)	-	$0.00	($0.19)	($0.04)	$0.04	$0.01	($0.04)	$0.20	$0.10
Weighted Average Basic Shares Outstanding	39.50M	38.95M	39.92M	39.98M	39.92M	39.94M	40.00M	40.31M	42.79M	41.77M
Diluted Earnings per Share	($0.01)	-	$0.00	($0.19)	($0.04)	$0.04	$0.01	($0.04)	$0.20	$0.10
Weighted Average Diluted Shares Outstanding	39.50M	38.95M	39.92M	39.98M	39.92M	39.94M	40.00M	40.31M	42.79M	41.77M
Weighted Average Basic & Diluted Shares Outstanding	39.61M	39.99M	40.00M	39.92M	39.95M	40.00M	40.05M	42.53M	43.92M	44.19M

This table details how cash moves in and out of Gladstone Commercial's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Change in Cash & Equivalents	2.81	0.14	-1.06
Net Cash From Operating Activities	69	60	57
Net Cash From Continuing Operating Activities	69	60	57
Net Income / (Loss) Continuing Operations	11	4.92	24
Consolidated Net Income / (Loss)	11	4.92	24
Provision For Loan Losses	0.00	0.00	0.06
Depreciation Expense	60	58	56
Amortization Expense	-0.69	-5.77	-5.14
Non-Cash Adjustments to Reconcile Net Income	-1.04	3.41	-18
Changes in Operating Assets and Liabilities, net	-0.04	-0.05	0.10
Net Cash From Investing Activities	-83	1.14	-1.73
Net Cash From Continuing Investing Activities	-83	1.14	-1.73
Purchase of Property, Leasehold Improvements and Equipment	-9.37	-8.19	-15
Purchase of Investment Securities	-113	-30	-27
Sale of Property, Leasehold Improvements and Equipment	1.84	1.04	0.95
Sale and/or Maturity of Investments	39	37	38
Other Investing Activities, net	-1.51	1.30	2.15
Net Cash From Financing Activities	16	-61	-56
Net Cash From Continuing Financing Activities	16	-61	-56
Net Change in Deposits	0.49	0.10	0.16
Issuance of Debt	325	133	174
Issuance of Common Equity	50	10	55
Repayment of Debt	-281	-141	-219
Repurchase of Preferred Equity	-0.36	-0.50	-1.71
Repurchase of Common Equity	0.00	-1.00	0.00
Payment of Dividends	-71	-61	-63
Other Financing Activities, Net	-6.43	-0.99	-2.20
Cash Interest Paid	28	33	36

This table details how cash moves in and out of Gladstone Commercial'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
Net Change in Cash & Equivalents	2.48	-1.69	2.80	1.77	1.51	-5.94	-1.22	-0.50	0.11	0.54
Net Cash From Operating Activities	22	12	15	16	18	12	15	14	5.54	23
Net Cash From Continuing Operating Activities	22	12	15	16	18	12	15	14	5.54	23
Net Income / (Loss) Continuing Operations	2.78	2.93	3.17	-4.59	1.79	4.55	3.53	1.60	12	7.20
Consolidated Net Income / (Loss)	2.78	2.93	3.17	-4.59	1.79	4.55	3.53	1.60	12	7.20
Depreciation Expense	15	15	15	17	12	14	13	16	13	13
Amortization Expense	0.95	-1.33	-1.34	-1.95	-1.20	-1.28	-1.14	-1.57	-1.20	-1.24
Non-Cash Adjustments to Reconcile Net Income	0.04	-1.38	-1.30	5.87	1.02	-2.18	-1.53	-1.43	-12	-3.01
Changes in Operating Assets and Liabilities, net	3.04	-2.82	-0.31	-0.50	3.71	-2.95	0.84	-1.08	-6.40	6.74
Net Cash From Investing Activities	-18	-6.98	0.67	-7.60	3.34	4.73	18	-13	2.83	-10
Net Cash From Continuing Investing Activities	-18	-6.98	0.67	-7.60	3.34	4.73	18	-13	2.83	-10
Purchase of Property, Leasehold Improvements and Equipment	-1.53	-3.78	-1.96	-4.01	-2.56	0.34	-2.49	-3.43	-1.09	-8.10
Purchase of Investment Securities	-44	-17	-0.71	-5.22	-12	-12	-0.25	-12	-10	-5.24
Sale of Property, Leasehold Improvements and Equipment	0.13	0.33	0.45	-0.25	0.15	0.69	0.40	0.21	0.19	0.16
Sale and/or Maturity of Investments	27	13	0.00	4.42	18	15	19	2.43	14	2.50
Other Investing Activities, net	0.54	0.65	2.89	-2.53	-0.05	0.99	2.18	-0.16	-0.18	0.31
Net Cash From Financing Activities	-2.12	-7.00	-13	-6.40	-20	-23	-35	-1.44	-8.26	-12
Net Cash From Continuing Financing Activities	-2.12	-7.00	-13	-6.40	-20	-23	-35	-1.44	-8.26	-12
Net Change in Deposits	0.39	0.02	0.00	0.25	-0.11	-0.04	-0.05	0.20	0.05	-0.04
Issuance of Debt	207	31	13	21	68	31	20	22	27	106
Issuance of Common Equity	9.97	4.44	4.63	4.14	1.01	0.45	0.19	11	40	4.52
Repayment of Debt	-197	-24	-15	-15	-73	-38	-39	-19	-57	-104
Repurchase of Preferred Equity	-	-0.31	-0.10	-0.14	-0.18	-0.08	-0.06	-0.26	-1.01	-0.39
Payment of Dividends	-18	-18	-15	-15	-15	-15	-15	-15	-16	-16
Other Financing Activities, Net	-4.75	-0.33	-0.21	-0.39	-0.33	-0.06	-0.01	-0.23	-0.54	-1.42

This table presents Gladstone Commercial'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
Total Assets	1,203	1,133	1,094
Cash and Due from Banks	12	12	11
Restricted Cash	4.34	4.15	4.12
Loans and Leases, Net of Allowance	0.00	0.00	0.00
Premises and Equipment, Net	1,001	922	892
Intangible Assets	112	101	95
Other Assets	74	95	92
Total Liabilities & Shareholders' Equity	1,203	1,133	1,094
Total Liabilities	827	809	753
Short-Term Debt	23	76	1.90
Long-Term Debt	726	663	691
Other Long-Term Liabilities	68	57	60
Commitments & Contingencies	0.00	0.00	0.00
Redeemable Noncontrolling Interest	170	170	170
Total Equity & Noncontrolling Interests	206	154	171
Total Preferred & Common Equity	204	153	171
Preferred Stock	0.00	0.00	0.00
Total Common Equity	204	153	171
Common Stock	721	730	784
Accumulated Other Comprehensive Income / (Loss)	12	7.76	11
Other Equity Adjustments	-529	-585	-624
Noncontrolling Interest	1.79	0.99	0.13

This table presents Gladstone Commercial's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	1,210	1,187	1,182	1,167	1,105	1,106	1,096
Cash and Due from Banks	14	14	16	18	10	10	11
Restricted Cash	4.15	4.51	4.08	3.81	4.47	4.00	4.00
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Premises and Equipment, Net	995	991	946	934	906	919	901
Intangible Assets	113	108	104	103	98	96	98
Other Assets	84	69	111	108	87	76	83
Total Liabilities & Shareholders' Equity	1,210	1,187	1,182	1,167	1,105	1,106	1,096
Total Liabilities	822	826	828	821	787	790	757
Short-Term Debt	7.75	26	38	71	76	81	53
Other Short-Term Payables	3.70	2.46	-	14	14	16	16
Long-Term Debt	734	721	715	678	643	641	639
Other Long-Term Liabilities	77	76	74	58	53	51	49
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	170	170	170	170	170	170	170
Total Equity & Noncontrolling Interests	217	191	184	177	148	146	169
Total Preferred & Common Equity	215	189	182	175	147	146	169
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	215	189	182	175	147	146	169
Common Stock	717	726	729	729	731	742	780
Accumulated Other Comprehensive Income / (Loss)	12	6.01	14	20	13	14	3.37
Other Equity Adjustments	-514	-543	-561	-574	-596	-610	-615
Noncontrolling Interest	1.94	1.64	1.52	1.46	0.94	0.11	0.13

This table displays calculated financial ratios and metrics derived from Gladstone Commercial's official financial filings.

Metric	2022	2023	2024
Growth Metrics	-	-	-
Revenue Growth	45.03%	-2.33%	5.34%
EBITDA Growth	56.08%	-10.71%	22.07%
EBIT Growth	434.88%	-8.34%	55.05%
NOPAT Growth	434.88%	-8.34%	55.05%
Net Income Growth	-1.04%	-54.35%	388.42%
EPS Growth	55.56%	-375.00%	242.11%
Operating Cash Flow Growth	-1.35%	-12.74%	-5.66%
Free Cash Flow Firm Growth	92.82%	5,643.69%	-11.64%
Invested Capital Growth	4.13%	-5.49%	-2.68%
Revenue Q/Q Growth	25.87%	14.36%	28.73%
EBITDA Q/Q Growth	44.50%	21.14%	54.02%
EBIT Q/Q Growth	271.88%	76.73%	187.80%
NOPAT Q/Q Growth	271.88%	76.73%	187.80%
Net Income Q/Q Growth	-10.45%	46.88%	12.35%
EPS Q/Q Growth	-300.00%	17.39%	28.57%
Operating Cash Flow Q/Q Growth	-5.66%	-0.66%	23.69%
Free Cash Flow Firm Q/Q Growth	97.47%	80.48%	4.96%
Invested Capital Q/Q Growth	-0.39%	-2.96%	0.29%
Profitability Metrics	-	-	-
EBITDA Margin	64.30%	58.78%	68.12%
EBIT Margin	26.90%	25.25%	37.17%
Profit (Net Income) Margin	6.78%	3.17%	14.69%
Tax Burden Percent	100.00%	100.00%	100.00%
Interest Burden Percent	25.20%	12.55%	39.53%
Effective Tax Rate	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	3.88%	3.58%	5.80%
ROIC Less NNEP Spread (ROIC-NNEP)	-0.51%	-1.02%	0.66%
Return on Net Nonoperating Assets (RNNOA)	-1.00%	-2.18%	1.43%
Return on Equity (ROE)	2.88%	1.41%	7.22%
Cash Return on Invested Capital (CROIC)	-0.17%	9.23%	8.51%
Operating Return on Assets (OROA)	3.65%	3.36%	5.46%
Return on Assets (ROA)	0.92%	0.42%	2.16%
Return on Common Equity (ROCE)	1.56%	0.72%	3.52%
Return on Equity Simple (ROE_SIMPLE)	5.29%	3.21%	14.04%
Net Operating Profit after Tax (NOPAT)	43	39	61
NOPAT Margin	26.90%	25.25%	37.17%
Net Nonoperating Expense Percent (NNEP)	4.39%	4.61%	5.13%
SG&A Expenses to Revenue	16.87%	16.65%	15.54%
Operating Expenses to Revenue	73.10%	74.75%	62.83%
Earnings before Interest and Taxes (EBIT)	43	39	61
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	102	91	111
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	3.00	3.16	4.14
Price to Tangible Book Value (P/TBV)	6.63	9.26	9.32
Price to Revenue (P/Rev)	3.85	3.12	4.33
Price to Earnings (P/E)	0.00	0.00	63.72
Dividend Yield	9.74%	9.91%	7.44%
Earnings Yield	0.00%	0.00%	1.57%
Enterprise Value to Invested Capital (EV/IC)	1.35	1.30	1.51
Enterprise Value to Revenue (EV/Rev)	9.54	8.87	9.52
Enterprise Value to EBITDA (EV/EBITDA)	14.84	15.09	13.97
Enterprise Value to EBIT (EV/EBIT)	35.46	35.13	25.61
Enterprise Value to NOPAT (EV/NOPAT)	35.46	35.13	25.61
Enterprise Value to Operating Cash Flow (EV/OCF)	21.93	22.82	27.34
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	13.64	17.45
Leverage & Solvency	-	-	-
Debt to Equity	1.99	2.28	2.03
Long-Term Debt to Equity	1.93	2.04	2.03
Financial Leverage	1.95	2.13	2.15
Leverage Ratio	3.13	3.34	3.35
Compound Leverage Factor	0.79	0.42	1.32
Debt to Total Capital	66.60%	69.50%	67.01%
Short-Term Debt to Total Capital	2.07%	7.12%	0.18%
Long-Term Debt to Total Capital	64.53%	62.37%	66.83%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	15.28%	16.09%	16.45%
Common Equity to Total Capital	18.13%	14.42%	16.54%
Debt to EBITDA	7.33	8.09	6.22
Net Debt to EBITDA	7.17	7.92	6.09
Long-Term Debt to EBITDA	7.10	7.26	6.20
Debt to NOPAT	17.51	18.84	11.40
Net Debt to NOPAT	17.14	18.43	11.15
Long-Term Debt to NOPAT	16.97	16.91	11.37
Noncontrolling Interest Sharing Ratio	45.87%	48.98%	51.26%
Liquidity Ratios	-	-	-
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-1.82	101	89
Operating Cash Flow to CapEx	918.93%	843.70%	402.41%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00
Efficiency Ratios	-	-	-
Asset Turnover	0.14	0.13	0.15
Fixed Asset Turnover	0.16	0.16	0.18
Capital & Investment Metrics	-	-	-
Invested Capital	1,125	1,063	1,035
Invested Capital Turnover	0.14	0.14	0.16
Increase / (Decrease) in Invested Capital	45	-62	-28
Enterprise Value (EV)	1,517	1,378	1,557
Market Capitalization	612	484	709
Book Value per Share	$5.15	$3.84	$3.90
Tangible Book Value per Share	$2.33	$1.31	$1.73
Total Capital	1,125	1,063	1,035
Total Debt	749	739	693
Total Long-Term Debt	726	663	691
Net Debt	733	723	678
Capital Expenditures (CapEx)	7.53	7.16	14
Net Nonoperating Expense (NNE)	32	34	37
Net Nonoperating Obligations (NNO)	749	739	693
Total Depreciation and Amortization (D&A)	59	52	51
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	($0.08)	($0.19)	$0.27
Adjusted Weighted Average Basic Shares Outstanding	38.95M	39.94M	41.77M
Adjusted Diluted Earnings per Share	($0.08)	($0.19)	$0.27
Adjusted Weighted Average Diluted Shares Outstanding	38.95M	39.94M	41.77M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	39.99M	40.00M	44.19M
Normalized Net Operating Profit after Tax (NOPAT)	38	41	47
Normalized NOPAT Margin	24.15%	26.37%	28.93%
Pre Tax Income Margin	6.78%	3.17%	14.69%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00
Payout Ratios	-	-	-
Dividend Payout Ratio	659.36%	1,231.61%	261.18%
Augmented Payout Ratio	659.36%	1,251.89%	261.18%

This table displays calculated financial ratios and metrics derived from Gladstone Commercial'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
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	43.34%	114.74%	-4.21%	30.50%	3.86%	-21.17%	-3.31%	-3.13%	20.39%	4.18%
EBITDA Growth	13.03%	179.10%	-7.42%	17.73%	20.93%	-33.67%	-4.56%	30.85%	45.06%	14.11%
EBIT Growth	15.04%	737.39%	-6.85%	198.41%	368.35%	-43.44%	14.04%	145.76%	81.53%	25.78%
NOPAT Growth	15.04%	737.39%	-6.85%	108.88%	368.35%	-43.44%	14.04%	251.08%	81.53%	25.78%
Net Income Growth	-38.04%	-29.68%	-6.61%	-382.51%	-35.70%	52.72%	11.34%	134.87%	554.07%	58.05%
EPS Growth	-125.00%	0.00%	-100.00%	-375.00%	-300.00%	0.00%	0.00%	78.95%	600.00%	150.00%
Operating Cash Flow Growth	15.53%	-25.28%	-13.20%	-9.48%	-20.14%	-3.27%	0.70%	-13.74%	-68.88%	91.84%
Free Cash Flow Firm Growth	-231.09%	68.81%	68.95%	117.56%	155.93%	1,001.27%	595.74%	481.64%	87.25%	-34.40%
Invested Capital Growth	7.99%	4.13%	1.65%	-0.95%	-2.99%	-5.49%	-6.37%	-6.24%	-5.83%	-2.68%
Revenue Q/Q Growth	35.35%	54.38%	-3.47%	37.80%	7.73%	17.17%	13.28%	38.06%	33.89%	1.40%
EBITDA Q/Q Growth	14.23%	159.65%	-1.12%	18.58%	17.33%	42.41%	96.90%	62.58%	30.08%	12.02%
EBIT Q/Q Growth	64.19%	1,337.56%	-0.10%	46.67%	157.69%	73.61%	178.09%	216.07%	90.34%	20.30%
NOPAT Q/Q Growth	64.19%	1,337.56%	-0.10%	2.67%	268.13%	73.61%	178.09%	216.07%	90.34%	20.30%
Net Income Q/Q Growth	71.61%	6.93%	6.28%	-244.87%	139.06%	153.96%	-22.52%	-54.62%	632.56%	-38.63%
EPS Q/Q Growth	75.00%	0.00%	0.00%	0.00%	78.95%	200.00%	-75.00%	-500.00%	600.00%	-50.00%
Operating Cash Flow Q/Q Growth	27.95%	-44.91%	21.50%	5.70%	12.89%	-33.27%	26.48%	-9.45%	-59.27%	311.32%
Free Cash Flow Firm Q/Q Growth	-3.32%	88.80%	64.04%	192.23%	229.13%	80.56%	29.21%	8.21%	5.96%	-36.74%
Invested Capital Q/Q Growth	1.01%	-0.39%	-1.49%	-0.06%	-1.07%	-2.96%	-2.40%	0.07%	-0.64%	0.29%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	47.69%	80.20%	59.24%	50.98%	55.52%	67.48%	58.48%	68.87%	66.90%	73.91%
EBIT Margin	6.24%	58.06%	11.04%	11.75%	28.12%	41.66%	13.03%	29.82%	42.39%	50.30%
Profit (Net Income) Margin	7.03%	4.87%	11.42%	-12.01%	4.35%	9.44%	13.15%	4.32%	23.65%	14.32%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	112.79%	8.39%	103.43%	-102.16%	15.48%	22.65%	100.97%	14.50%	55.79%	28.46%
Effective Tax Rate	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)	0.72%	8.37%	1.26%	0.99%	3.43%	5.91%	1.46%	3.30%	5.07%	7.85%
ROIC Less NNEP Spread (ROIC-NNEP)	0.77%	3.91%	1.27%	-0.05%	2.12%	3.83%	1.46%	2.02%	3.78%	5.32%
Return on Net Nonoperating Assets (RNNOA)	1.43%	7.60%	2.48%	-0.09%	4.30%	8.13%	3.16%	4.46%	7.94%	11.45%
Return on Equity (ROE)	2.16%	15.98%	3.74%	0.90%	7.74%	14.05%	4.61%	7.75%	13.01%	19.29%
Cash Return on Invested Capital (CROIC)	-6.62%	-0.17%	-0.72%	2.13%	5.03%	9.23%	7.06%	7.53%	7.99%	8.51%
Operating Return on Assets (OROA)	0.68%	7.87%	1.18%	1.33%	3.21%	5.54%	1.36%	3.10%	4.76%	7.39%
Return on Assets (ROA)	0.77%	0.66%	1.22%	-1.36%	0.50%	1.25%	1.38%	0.45%	2.66%	2.10%
Return on Common Equity (ROCE)	1.18%	8.65%	2.02%	0.48%	4.12%	7.17%	2.28%	3.80%	6.53%	9.40%
Return on Equity Simple (ROE_SIMPLE)	5.59%	0.00%	5.59%	2.39%	1.91%	0.00%	3.58%	7.87%	12.67%	0.00%
Net Operating Profit after Tax (NOPAT)	2.47	36	3.06	3.14	12	20	3.49	11	21	25
NOPAT Margin	6.24%	58.06%	11.04%	8.23%	28.12%	41.66%	13.03%	29.82%	42.39%	50.30%
Net Nonoperating Expense Percent (NNEP)	-0.04%	4.47%	-0.01%	1.04%	1.31%	2.09%	0.00%	1.28%	1.29%	2.52%
SG&A Expenses to Revenue	16.49%	10.97%	24.26%	17.64%	16.57%	11.55%	21.95%	15.69%	13.48%	14.02%
Operating Expenses to Revenue	93.76%	41.94%	88.96%	88.25%	71.88%	58.34%	86.97%	70.18%	57.61%	49.70%
Earnings before Interest and Taxes (EBIT)	2.47	36	3.06	4.49	12	20	3.49	11	21	25
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	19	49	16	19	23	33	16	25	33	37
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.40	3.00	2.35	2.45	2.52	3.16	3.62	3.87	4.06	4.14
Price to Tangible Book Value (P/TBV)	5.04	6.63	5.47	5.73	6.09	9.26	10.75	11.33	9.65	9.32
Price to Revenue (P/Rev)	4.09	3.85	3.54	3.32	3.25	3.12	4.45	4.75	5.40	4.33
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	80.94	63.72
Dividend Yield	11.51%	9.74%	12.87%	12.14%	11.53%	9.91%	8.98%	8.53%	7.43%	7.44%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.24%	1.57%
Enterprise Value to Invested Capital (EV/IC)	1.25	1.35	1.21	1.22	1.22	1.30	1.36	1.39	1.49	1.51
Enterprise Value to Revenue (EV/Rev)	11.18	9.54	10.72	10.06	9.87	8.87	11.75	12.15	12.08	9.52
Enterprise Value to EBITDA (EV/EBITDA)	19.97	14.84	19.63	18.91	17.78	15.09	25.14	23.23	21.21	13.97
Enterprise Value to EBIT (EV/EBIT)	122.82	35.46	133.07	103.17	60.40	35.13	273.71	123.31	72.64	25.61
Enterprise Value to NOPAT (EV/NOPAT)	122.82	35.46	133.07	103.17	60.40	35.13	273.71	123.31	72.64	25.61
Enterprise Value to Operating Cash Flow (EV/OCF)	19.27	21.93	20.09	20.69	22.06	22.82	23.30	24.73	33.33	27.34
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	56.93	23.95	13.64	18.61	17.85	18.05	17.45
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.91	1.99	2.07	2.13	2.16	2.28	2.26	2.29	2.04	2.03
Long-Term Debt to Equity	1.89	1.93	2.00	2.02	1.96	2.04	2.02	2.03	1.89	2.03
Financial Leverage	1.86	1.95	1.95	2.02	2.03	2.13	2.16	2.20	2.10	2.15
Leverage Ratio	3.05	3.13	3.14	3.22	3.24	3.34	3.38	3.42	3.30	3.35
Compound Leverage Factor	3.44	0.26	3.25	-3.29	0.50	0.76	3.41	0.50	1.84	0.95
Debt to Total Capital	65.68%	66.60%	67.46%	68.06%	68.36%	69.50%	69.33%	69.58%	67.13%	67.01%
Short-Term Debt to Total Capital	0.69%	2.07%	2.37%	3.47%	6.48%	7.12%	7.32%	7.81%	5.16%	0.18%
Long-Term Debt to Total Capital	64.99%	64.53%	65.09%	64.59%	61.89%	62.37%	62.01%	61.77%	61.97%	66.83%
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%
Noncontrolling Interests to Total Capital	15.25%	15.28%	15.49%	15.49%	15.65%	16.09%	16.48%	16.39%	16.49%	16.45%
Common Equity to Total Capital	19.08%	18.13%	17.05%	16.45%	15.98%	14.42%	14.20%	14.03%	16.37%	16.54%
Debt to EBITDA	10.48	7.33	10.92	10.55	9.94	8.09	12.83	11.64	9.57	6.22
Net Debt to EBITDA	10.23	7.17	10.64	10.27	9.64	7.92	12.57	11.41	9.37	6.09
Long-Term Debt to EBITDA	10.37	7.10	10.53	10.02	9.00	7.26	11.48	10.33	8.84	6.20
Debt to NOPAT	64.47	17.51	73.99	57.59	33.75	18.84	139.74	61.79	32.78	11.40
Net Debt to NOPAT	62.94	17.14	72.13	56.01	32.76	18.43	136.84	60.55	32.09	11.15
Long-Term Debt to NOPAT	63.80	16.97	71.39	54.65	30.56	16.91	124.98	54.85	30.26	11.37
Noncontrolling Interest Sharing Ratio	45.26%	45.87%	46.04%	46.50%	46.81%	48.98%	50.47%	51.03%	49.83%	51.26%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-81	-9.09	-15	14	45	82	74	80	85	54
Operating Cash Flow to CapEx	1,586.48%	356.43%	988.01%	370.43%	737.10%	0.00%	719.49%	422.32%	612.15%	287.03%
Free Cash Flow to Firm to Interest Expense	-8.90	0.00	-1.69	0.00	0.00	0.00	7.80	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	2.45	0.00	1.69	0.00	0.00	0.00	1.58	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	2.29	0.00	1.52	0.00	0.00	0.00	1.36	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.11	0.14	0.11	0.11	0.11	0.13	0.10	0.10	0.11	0.15
Fixed Asset Turnover	0.13	0.16	0.13	0.14	0.14	0.16	0.13	0.13	0.14	0.18
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,129	1,125	1,108	1,107	1,096	1,063	1,038	1,038	1,032	1,035
Invested Capital Turnover	0.12	0.14	0.11	0.12	0.12	0.14	0.11	0.11	0.12	0.16
Increase / (Decrease) in Invested Capital	84	45	18	-11	-34	-62	-71	-69	-64	-28
Enterprise Value (EV)	1,413	1,517	1,344	1,350	1,340	1,378	1,409	1,442	1,535	1,557
Market Capitalization	517	612	444	446	442	484	534	564	686	709
Book Value per Share	$5.45	$5.15	$4.73	$4.56	$4.39	$3.84	$3.68	$3.64	$3.97	$3.90
Tangible Book Value per Share	$2.59	$2.33	$2.03	$1.94	$1.82	$1.31	$1.24	$1.24	$1.67	$1.73
Total Capital	1,129	1,125	1,108	1,107	1,096	1,063	1,038	1,038	1,032	1,035
Total Debt	742	749	748	754	749	739	719	723	693	693
Total Long-Term Debt	734	726	721	715	678	663	643	641	639	691
Net Debt	724	733	729	733	727	723	704	708	678	678
Capital Expenditures (CapEx)	1.41	3.45	1.51	4.26	2.42	-1.03	2.09	3.22	0.91	7.94
Net Nonoperating Expense (NNE)	-0.32	33	-0.11	7.73	9.78	16	-0.03	9.44	9.29	18
Net Nonoperating Obligations (NNO)	742	749	748	754	749	739	719	723	693	693
Total Depreciation and Amortization (D&A)	16	14	13	15	11	12	12	14	12	12
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.02)	$0.00	($0.02)	($0.19)	($0.04)	$0.04	$0.01	($0.04)	$0.20	$0.10
Adjusted Weighted Average Basic Shares Outstanding	39.50M	38.95M	39.92M	39.98M	39.92M	39.94M	40.00M	40.31M	42.79M	41.77M
Adjusted Diluted Earnings per Share	($0.02)	$0.00	($0.02)	($0.19)	($0.04)	$0.04	$0.01	($0.04)	$0.20	$0.10
Adjusted Weighted Average Diluted Shares Outstanding	39.50M	38.95M	39.92M	39.98M	39.92M	39.94M	40.00M	40.31M	42.79M	41.77M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	39.61M	39.99M	40.00M	39.92M	39.95M	40.00M	40.05M	42.53M	43.92M	44.19M
Normalized Net Operating Profit after Tax (NOPAT)	9.23	25	2.14	7.92	13	18	2.79	7.73	18	19
Normalized NOPAT Margin	23.30%	40.64%	7.73%	20.73%	31.17%	37.46%	10.41%	20.88%	36.10%	37.69%
Pre Tax Income Margin	7.03%	4.87%	11.42%	-12.01%	4.35%	9.44%	13.15%	4.32%	23.65%	14.32%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.27	0.00	0.35	0.00	0.00	0.00	0.37	0.00	0.00	0.00
NOPAT to Interest Expense	0.27	0.00	0.35	0.00	0.00	0.00	0.37	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.12	0.00	0.18	0.00	0.00	0.00	0.15	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.12	0.00	0.18	0.00	0.00	0.00	0.15	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	583.23%	659.36%	652.03%	1,526.46%	1,895.40%	1,231.61%	1,149.16%	530.16%	288.29%	261.18%
Augmented Payout Ratio	583.23%	659.36%	652.03%	1,549.42%	1,925.19%	1,251.89%	1,149.16%	530.16%	288.29%	261.18%

Frequently Asked Questions About Gladstone Commercial's Financials

When does Gladstone Commercial's fiscal year end?

According to the most recent income statement we have on file, Gladstone Commercial's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Gladstone Commercial's net income changed over the last 2 years?

Gladstone Commercial's net income appears to be on an upward trend, with a most recent value of $24.04 million in 2024, rising from $10.78 million in 2022. The previous period was $4.92 million in 2023.

How has Gladstone Commercial revenue changed over the last 2 years?

Over the last 2 years, Gladstone Commercial's total revenue changed from $159.03 million in 2022 to $163.62 million in 2024, a change of 2.9%.

How much debt does Gladstone Commercial have?

Gladstone Commercial's total liabilities were at $753.01 million at the end of 2024, a 6.9% decrease from 2023, and a 8.9% decrease since 2022.

How much cash does Gladstone Commercial have?

In the past 2 years, Gladstone Commercial's cash and equivalents has ranged from $10.96 million in 2024 to $11.99 million in 2023, and is currently $10.96 million as of their latest financial filing in 2024.

How has Gladstone Commercial's book value per share changed over the last 2 years?

Over the last 2 years, Gladstone Commercial's book value per share changed from 5.15 in 2022 to 3.90 in 2024, a change of -24.3%.

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This page (NASDAQ:GOODN) was last updated on 4/20/2025 by MarketBeat.com Staff

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Gladstone Commercial (GOODN) Financials

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Gladstone Commercial (GOODN) Financials

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