GLADSTONE COMMERCIAL CORP GOOD

Real estate SIC 6519 - Lessors of Real Property, NEC Nasdaq

Gladstone Commercial Corporation (which we refer to as "we," "us," or the "Company") was incorporated under the General Corporation Law of the State of Maryland on February 14, 2003. We have elected to be taxed as a REIT for federal income tax purposes. We focus on acquiring, owning, and managing primarily industrial and office properties. Our shares of common stock, par value $0.001 per share, 6.625% Series E Cumulative Redeemable Preferred Stock, par value $0.001 per share ("Series E Preferred Stock"), and 6.00% Series G Cumulative Redeemable Preferred Stock, par value $0.001 per share ("Series G Preferred Stock"), trade on the Nasdaq Global Select Market ("Nasdaq") under the trading symbols "GOOD," "GOODN" and "GOODO," respectively. Our senior common stock, par value $0.001 per share ("Senior Common Stock") and our 6.00% Series F Cumulative Redeemable Preferred Stock, par value $0.001 per share ("Series F Preferred Stock"), are not listed or traded on any exchange or automated quotation system.

Last close 13.11 2026-09-04
Market cap $634.6M 2026-06-30 share count
52-week range 10.33 - 13.28

Valuation FY2025 figures against the last close

P/S3.9x
P/E93.6x
P/FCF7.2x
EV/EBITDA
Dividend yield10.7%
Diluted EPS0.14

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $161.3M$149.4M$147.6M$149.0M$137.7M$133.2M$114.4M$106.8M$94.8M$86.4M
SG&A $4.0M$3.9M$4.4M$3.7M$3.2M$3.3M$3.2M$2.4M$2.4M$2.4M
Total operating expenses $101.4M$102.8M$116.1M$116.2M$101.6M$99.9M$80.2M$71.1M$68.3M$55.6M
Interest expense $41.9M$37.4M$37.3M$32.5M$26.9M$26.8M$28.3M$26.2M$24.6M$25.9M
Net income $19.3M$24.0M$5.0M$10.8M$10.9M$14.9M$9.6M$12.3M$5.9M$4.0M
EPS, basic 0.140.27-0.19-0.04-0.090.09-0.160.03-0.19-0.16
EPS, diluted 0.140.27-0.19-0.04-0.090.09-0.160.03-0.19-0.16
Shares, diluted (wtd. avg.) $46.5M$41.8M$39.9M$39.0M$36.5M$34.0M$30.7M$28.7M$26.4M$23.2M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $10.8M$11.0M$12.0M$16.0M$13.2M$16.1M$11.5M$9.1M$9.1M$7.7M
Other intangibles $115.6M$95.1M$101.0M$111.6M$114.5M$117.4M$115.5M$111.4M$118.9M$105.6M
Total assets $1.25B$1.09B$1.13B$1.20B$1.14B$1.10B$1.04B$938.8M$928.5M$851.7M
Long-term debt $843.5M$693.4M$738.9M$749.2M$707.5M$669.3M$626.6M$566.1M$542.6M$509.4M
Total liabilities $905.0M$753.0M$809.2M$826.9M$770.5M$722.6M$676.3M$598.8M$578.2M$541.1M
Total equity $171.8M$171.2M$154.3M$205.7M$202.2M$214.5M$211.0M$254.4M$266.8M$239.9M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $88.2M$57.0M$60.4M$69.2M$70.1M$65.5M$60.2M$55.6M$46.8M$41.2M
Investing cash flow -$221.4M-$1.7M$1.1M-$82.5M-$94.8M-$100.3M-$132.0M-$34.4M-$99.9M-$59.8M
Financing cash flow $134.7M-$56.3M-$61.4M$16.1M$21.8M$39.4M$74.2M-$21.2M$54.4M$17.0M
Dividends paid $68.2M$62.8M$60.6M$71.1M$67.6M$63.8M$58.9M$54.6M$50.4M$42.5M
Buybacks $0$0$998.0K$0$0$0$34.0K$24.0K$178.0K

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001234006-26-000005.

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