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GAIN logoGladstone Investment Corporation(GAIN)Earnings, Financials & Key Ratios

GAIN•NASDAQ•Banking & Credit
$16.71
$665M mkt cap·9.4× P/E·Price updated May 6, 2026
SectorFinancial ServicesIndustryAsset ManagementSub-IndustryPrivate credit and BDC lenders
AboutGladstone Investment Corporation is business development company, specializes in lower middle market, mature stage, buyouts; 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 seeks to invest in manufacturing, consumer products and business/consumer services 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 revenue between $20 million and $100 million. The fund invests 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 the investments for seven years and exits via sale or recapitalization, initial public offering, or sale to third party.Show more
  • Net Interest Income$55M-4.0%
  • Total Revenue$90M-12.9%
  • Net Income$65M-23.4%
  • Return on Equity13.17%-28.0%
  • Net Interest Margin5.5%-10.5%
  • Efficiency Ratio-4.1%+32.4%
  • ROA6.72%-32.9%
  • Equity / Assets49.59%-5.6%
  • Book Value per Share13.59-5.0%
  • Tangible BV/Share13.59-5.0%
  • Debt/Equity0.91+12.9%
Technical→

GAIN Key Insights

Gladstone Investment Corporation (GAIN) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong NIM of 5.5%
  • ✓Efficient operations: -4.1% efficiency ratio
  • ✓Well capitalized: 49.6% equity/assets
  • ✓Trading near 52-week high
  • ✓Trading at only 1.2x book value

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

GAIN Price & Volume

Gladstone Investment Corporation (GAIN) stock price & volume — 10-year historical chart

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GAIN Growth Metrics

Gladstone Investment Corporation (GAIN) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years5.15%
5 Years49.68%
3 Years-7.13%
TTM-

Profit CAGR

10 Years2.66%
5 Years-
3 Years-13.89%
TTM86.14%

EPS CAGR

10 Years-0.55%
5 Years-
3 Years-16.7%
TTM61.98%

Return on Capital

10 Years8.02%
5 Years8.72%
3 Years7.18%
Last Year6.75%

GAIN Recent Earnings

Gladstone Investment Corporation (GAIN) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 3/12 qtrs (25%)●Beat Revenue 5/12 qtrs (42%)
Q1 2026Latest
Feb 3, 2026
EPS
$0.21
Est $0.23
-10.3%
Revenue
$25M
Est $26M
-3.0%
Q4 2025
Nov 4, 2025
EPS
$0.24
Est $0.24
+0.0%
Revenue
$36M
Est $26M
+39.8%
Q3 2025
Aug 12, 2025
EPS
$0.24
Est $0.23
+4.3%
Revenue
$26M
Est $25M
+5.0%
Q2 2025
May 13, 2025
EPS
$0.26
Est $0.23
+13.0%
Revenue
$26M
Est $26M
-1.0%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q1 2026LatestFeb 3, 2026
$0.21vs $0.23-10.3%
$25Mvs $26M-3.0%
Q4 2025Nov 4, 2025
$0.24vs $0.24+0.0%
$36Mvs $26M+39.8%
Q3 2025Aug 12, 2025
$0.24vs $0.23+4.3%
$26Mvs $25M+5.0%
Q2 2025May 13, 2025
$0.26vs $0.23+13.0%
$26Mvs $26M-1.0%
Based on last 12 quarters of dataView full earnings history →

GAIN Peer Comparison

Gladstone Investment Corporation (GAIN) competitors in Private credit and BDC lenders — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
HTGC logoHTGCHercules Capital, Inc.Direct Competitor3.02B16.448.8926.97%13.18%1.04
ARCC logoARCCAres Capital CorporationDirect Competitor13.76B19.1610.3032.87%8.11%1.12
GBDC logoGBDCGolub Capital BDC, Inc.Direct Competitor3.47B13.319.3742.5%5.24%1.23
TPVG logoTPVGTriplePoint Venture Growth BDC Corp.Direct Competitor225.54M5.574.5736.55%13.09%1.33
CSWC logoCSWCCapital Southwest CorporationDirect Competitor1.44B24.1916.467.67%10.32%1.08
MRCC logoMRCCMonroe Capital CorporationDirect Competitor110.06M5.089.58-39.74%-2.9%1.15
PFLT logoPFLTPennantPark Floating Rate Capital Ltd.Direct Competitor913.8M9.2112.792.2%3.23%1.65
GLAD logoGLADGladstone Capital CorporationProduct Competitor434.01M19.217.5320.37%5.59%0.83

Compare GAIN vs Peers

Gladstone Investment Corporation (GAIN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs HTGC

Most directly comparable listed peer for GAIN.

Scale Benchmark

vs BX

Larger-name benchmark to compare GAIN against a more recognizable public peer.

Peer Set

Compare Top 5

vs HTGC, ARCC, GBDC, TPVG

GAIN Income Statement

Gladstone Investment Corporation (GAIN) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Net Interest Income42.61M44.77M43.48M45.6M42.72M46.57M44.4M57.67M55.37M52.01M
NII Growth %0.86%5.06%-2.86%4.85%-6.3%9%-4.66%29.9%-4%-39.65%
Net Interest Margin %8.27%7.33%6.85%7.91%6.64%6.29%5.8%6.15%5.5%4.21%
Interest Income46.15M48.8M49.63M49.55M47.16M59.65M60.28M81.79M83.61M88.61M
Interest Expense3.54M4.03M6.15M3.96M4.44M13.08M15.88M24.12M28.25M36.61M
Loan Loss Provision000000000-4.61M
Non-Interest Income6.79M20.56M55.75M-37.59M6M52.58M-11.74M21.38M6.27M24.04M
Non-Interest Income %12.82%29.64%52.9%-314.19%11.29%46.85%-24.2%20.72%6.97%21.34%
Total Revenue
52.94M▲ 0%
69.36M▲ 31.0%
105.38M▲ 51.9%
11.96M▼ 88.6%
53.17M▲ 344.4%
112.23M▲ 111.1%
48.53M▼ 56.8%
103.17M▲ 112.6%
89.88M▼ 12.9%
112.66M▲ 0%
Revenue Growth %59%31.03%51.93%-88.65%344.4%111.08%-56.76%112.58%-12.88%13754.65%
Non-Interest Expense4.63M4.64M17.64M15.24M6.27M-3.17M-2.89M-6.26M-3.69M22.72M
Efficiency Ratio8.75%6.69%16.74%127.38%11.8%-2.82%-5.96%-6.06%-4.1%20.16%
Operating Income
44.76M▲ 0%
60.69M▲ 35.6%
81.59M▲ 34.4%
-7.23M▼ 108.9%
42.45M▲ 686.9%
102.32M▲ 141.0%
35.55M▼ 65.3%
85.31M▲ 140.0%
65.32M▼ 23.4%
57.95M▲ 0%
Operating Margin %84.56%87.49%77.43%-60.46%79.85%91.17%73.24%82.68%72.67%51.44%
Operating Income Growth %80.1%35.57%34.44%-108.87%686.87%141%-65.26%139.98%-23.43%-
Pretax Income
44.76M▲ 0%
60.69M▲ 35.6%
81.59M▲ 34.4%
-7.23M▼ 108.9%
42.45M▲ 686.9%
102.32M▲ 141.0%
35.55M▼ 65.3%
85.31M▲ 140.0%
65.32M▼ 23.4%
130.35M▲ 0%
Pretax Margin %84.56%87.49%77.43%-60.46%79.85%91.17%73.24%82.68%72.67%115.71%
Income Tax0000000000
Effective Tax Rate %0%0%0%0%0%0%0%0%0%0%
Net Income
44.76M▲ 0%
60.69M▲ 35.6%
81.59M▲ 34.4%
-7.23M▼ 108.9%
42.45M▲ 686.9%
102.32M▲ 141.0%
35.55M▼ 65.3%
85.31M▲ 140.0%
65.32M▼ 23.4%
130.35M▲ 0%
Net Margin %84.56%87.49%77.43%-60.46%79.85%91.17%73.24%82.68%72.67%115.71%
Net Income Growth %80.1%35.57%34.44%-108.87%686.87%141%-65.26%139.98%-23.43%86.14%
Net Income (Continuing)44.76M60.69M81.59M-7.23M42.45M102.32M35.55M85.31M65.32M130.35M
EPS (Diluted)
1.48▲ 0%
1.88▲ 27.0%
2.49▲ 32.4%
-0.22▼ 108.8%
1.28▲ 681.8%
3.08▲ 140.6%
1.07▼ 65.3%
2.47▲ 130.8%
1.78▼ 27.9%
3.29▲ 0%
EPS Growth %80.49%27.03%32.45%-108.84%681.82%140.63%-65.26%130.84%-27.94%61.98%
EPS (Basic)1.481.882.49-0.221.283.081.072.471.78-
Diluted Shares Outstanding30.27M32.27M32.81M32.87M33.18M33.21M33.31M34.47M36.74M39.68M

GAIN Balance Sheet

Gladstone Investment Corporation (GAIN) balance sheet — assets, liabilities & shareholders' equity

Line itemMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Cash & Short Term Investments2.87M3.64M1.7M2.78M2.06M14.19M2.68M2.46M14.3M6.7M
Cash & Due from Banks2.87M3.64M1.7M2.78M2.06M14.19M2.68M2.46M14.3M1.35M
Short Term Investments0000000000
Total Investments16.04M12.46M13.31M26.16M633.83M00000
Investments Growth %60.42%-22.35%6.84%96.54%2323.08%-100%---0%
Long-Term Investments16.04M12.46M13.31M26.16M633.83M00001.13B
Accounts Receivables4.54M5.86M4.09M4.2M3.37M9.45M6.94M11.05M8.47M4.84M
Goodwill & Intangibles0000000000
Goodwill0000000000
Intangible Assets0000000000
PP&E (Net)0000000000
Other Assets491.74M588.95M616M543.24M2.37M716.77M756.02M924.57M983.63M0
Total Current Assets7.41M9.49M5.79M6.98M7.53M23.64M9.62M13.51M22.77M6.19M
Total Non-Current Assets507.78M601.4M629.3M569.4M636.2M716.77M756.02M924.57M983.63M0
Total Assets
515.2M▲ 0%
610.9M▲ 18.6%
635.1M▲ 4.0%
576.38M▼ 9.2%
643.73M▲ 11.7%
740.41M▲ 15.0%
765.64M▲ 3.4%
938.08M▲ 22.5%
1.01B▲ 7.3%
1.24B▲ 0%
Asset Growth %2.41%18.58%3.96%-9.25%11.69%15.02%3.41%22.52%7.28%109.01%
Return on Assets (ROA)8.79%10.78%13.1%-1.19%6.96%14.78%4.72%10.01%6.72%10.54%
Accounts Payable578K916K892K1.22M563K2.99M3.1M4.2M6.17M0
Total Debt74.8M112.6M58.1M54.3M243.59M261.35M292.61M398.35M455.71M442.88M
Net Debt71.93M108.96M56.39M51.52M241.53M247.16M289.92M395.88M441.41M441.53M
Long-Term Debt74.8M112.6M58.1M54.3M243.59M261.35M292.61M398.35M455.71M0
Short-Term Debt000000000442.88M
Other Liabilities138.74M143.19M169M151.83M384K30.25M30.2M42.83M45.44M198.33M
Total Current Liabilities578K916K892K1.22M17.39M2.99M3.1M4.2M6.17M442.88M
Total Non-Current Liabilities213.53M255.78M227.1M206.12M243.97M291.59M322.81M441.18M501.15M198.33M
Total Liabilities214.11M256.7M227.99M207.35M261.37M294.58M325.9M445.37M507.32M641.21M
Total Equity
301.08M▲ 0%
354.2M▲ 17.6%
407.11M▲ 14.9%
369.03M▼ 9.4%
382.36M▲ 3.6%
445.83M▲ 16.6%
439.74M▼ 1.4%
492.71M▲ 12.0%
499.08M▲ 1.3%
595.41M▲ 0%
Equity Growth %7.91%17.64%14.94%-9.35%3.61%16.6%-1.37%12.05%1.29%48.91%
Equity / Assets (Capital Ratio)58.44%57.98%64.1%64.03%59.4%60.21%57.43%52.52%49.59%48.15%
Return on Equity (ROE)15.43%18.52%21.43%-1.86%11.3%24.71%8.03%18.3%13.17%21.89%
Book Value per Share9.9510.9812.4111.2311.5313.4313.2014.3013.5915.01
Tangible BV per Share9.9510.9812.4111.2311.5313.4313.2014.3013.5915.01
Common Stock30K33K33K33K33K33K34K37K37K40K
Additional Paid-in Capital310.33M330.66M366.42M401.02M400.8M397.95M401.8M444.71M445.51M0
Retained Earnings7.28M3.66M-7.34M6.37M-18.46M-12.99M-5.53M-19.56M-5.33M0
Accumulated OCI0000000000
Treasury Stock0000000000
Preferred Stock0000000000

GAIN Cash Flow Statement

Gladstone Investment Corporation (GAIN) cash flow — operating, investing & free cash flow history

Line itemMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Cash from Operations32.6M-29.73M93.61M35.31M44.81M77.94M-4.5M85.99M113.92M113.92M
Operating CF Growth %698.7%-191.19%414.88%-62.28%26.9%73.95%-105.78%2009.1%32.49%-1106.36%
Net Income44.76M60.69M81.59M-7.23M42.45M102.32M35.55M85.31M65.32M130.35M
Depreciation & Amortization75K500K500K-51.08M0012.22M00-123.64M
Deferred Taxes0000000000
Other Non-Cash Items-13.08M-96.23M-21.59M110.82M8.35M-34.73M-54.54M-8.99M43.25M22.16M
Working Capital Changes847K5.32M33.12M-17.19M-6M10.35M2.27M9.68M5.35M315K
Cash from Investing000-89.18M-74.54M-41.34M-98.22M-155.92M-97.62M-91.76M
Purchase of Investments000-145.45M-95.27M-92.74M-133.76M-183.92M-221.22M-185.34M
Sale/Maturity of Investments000-1000K1000K1000K1000K1000K1000K2M
Net Investment Activity000-146.45M-94.27M-91.74M-132.76M-182.92M-220.22M-183.34M
Acquisitions0000000000
Other Investing000145.45M000000
Cash from Financing-34.09M29.6M-93.98M-34.85M28.07M-24.5M-6.74M69.91M-4.37M5.49M
Dividends Paid-22.7M-28.93M-30.52M-33.92M-30.86M-38.85M-47.05M-76.06M-60.95M-85M
Share Repurchases0000-57.5M-94.37M0000
Stock Issued022.48M1.87M3.13M21.02M05.49M43.9M2M0
Net Stock Activity022.48M1.87M3.13M-36.48M-94.37M5.49M43.9M2M0
Debt Issuance (Net)-1000K1000K-1000K-1000K1000K1000K1000K1000K1000K1000K
Other Financing-3.59M-1.26M-4.43M-56K00-385K0084.76M
Net Change in Cash
-1.49M▲ 0%
-132K▲ 91.1%
-362K▼ 174.2%
455K▲ 225.7%
-1.66M▼ 465.3%
12.1M▲ 827.9%
-11.25M▼ 193.0%
-28K▲ 99.8%
11.93M▲ 42721.4%
-168.09M▲ 0%
Exchange Rate Effect0001000K101000K000
Cash at Beginning5.59M4.1M3.97M3.6M4.06M2.4M14.49M3.25M3.22M2.24M
Cash at End4.1M3.97M3.6M4.06M2.4M14.49M3.25M3.22M15.15M-164.94M
Interest Paid0000000000
Income Taxes Paid0000000000
Free Cash Flow
32.6M▲ 0%
-29.73M▼ 191.2%
93.61M▲ 414.9%
35.31M▼ 62.3%
44.81M▲ 26.9%
77.94M▲ 73.9%
-4.5M▼ 105.8%
85.99M▲ 2009.1%
113.92M▲ 32.5%
-81.82M▲ 0%
FCF Growth %698.7%-191.19%414.88%-62.28%26.9%73.95%-105.78%2009.1%32.49%-191.9%

GAIN Banking Ratios

Gladstone Investment Corporation (GAIN) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
Return on Equity (ROE)15.43%18.52%21.43%-1.86%11.3%24.71%8.03%18.3%13.17%21.89%
Return on Assets (ROA)8.79%10.78%13.1%-1.19%6.96%14.78%4.72%10.01%6.72%10.54%
Net Interest Margin8.27%7.33%6.85%7.91%6.64%6.29%5.8%6.15%5.5%4.21%
Efficiency Ratio8.75%6.69%16.74%127.38%11.8%-2.82%-5.96%-6.06%-4.1%20.16%
Equity / Assets58.44%57.98%64.1%64.03%59.4%60.21%57.43%52.52%49.59%48.15%
Book Value / Share9.9510.9812.4111.2311.5313.4313.214.313.5915.01
NII Growth0.86%5.06%-2.86%4.85%-6.3%9%-4.66%29.9%-4%-10%
Dividend Payout50.72%47.67%37.4%--37.97%132.36%89.16%93.31%65.2%

GAIN SEC Filings & Documents

Gladstone Investment Corporation (GAIN) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Mar 23, 2026·SEC

Material company update

Feb 18, 2026·SEC

Material company update

Feb 11, 2026·SEC

10-K Annual Reports

2
FY 2025

May 13, 2025·SEC

FY 2024

May 8, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Feb 3, 2026·SEC

FY 2025

Nov 4, 2025·SEC

FY 2025

Aug 12, 2025·SEC

GAIN Frequently Asked Questions

Gladstone Investment Corporation (GAIN) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Gladstone Investment Corporation (GAIN) saw revenue decline by 12.9% over the past year.

Yes, Gladstone Investment Corporation (GAIN) is profitable, generating $130.4M in net income for fiscal year 2025 (72.7% net margin).

Dividend & Returns

Yes, Gladstone Investment Corporation (GAIN) pays a dividend with a yield of 9.93%. This makes it attractive for income-focused investors.

Gladstone Investment Corporation (GAIN) has a return on equity (ROE) of 13.2%. This is reasonable for most industries.

Industry Metrics

Gladstone Investment Corporation (GAIN) has a net interest margin (NIM) of 5.5%. This indicates healthy earnings from lending activities.

Gladstone Investment Corporation (GAIN) has an efficiency ratio of -4.1%. This is excellent, indicating strong cost control.

Explore More GAIN

Gladstone Investment Corporation (GAIN) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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