Gladstone Investment Corporation (GAIN) Financial Ratios
21 years of historical data (2006–2026) · Financial Services · Asset Management
EV/EBITDA
↓
5.10
↓-56% vs avg
5yr avg: 11.56
30Y Low4.9·High35.8
P/FCF
↓
N/A
—
5yr avg: 5.63
30Y Low1.3·High52.1
P/B Ratio
↓
0.86
↓-14% vs avg
5yr avg: 1.00
30Y Low0.4·High1.2
ROE
↑
31.7%
↓+65% vs avg
5yr avg: 19.2%
30Y Low-5%·High32%
Debt/EBITDA
↓
2.50
↓-50% vs avg
5yr avg: 4.99
30Y Low0.7·High17.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
GAIN Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Gladstone Investment Corporation trades at 3.1x earnings, 54% below its 5-year average of 6.8x, sitting at the 6th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.6x, the stock trades at a discount of 77%.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $589M | $550M | $491M | $490M | $441M | $536M | $406M | $258M | $381M | $326M | $275M |
| Enterprise Value | $1.2B | $1.1B | $932M | $886M | $731M | $783M | $647M | $310M | $437M | $435M | $346M |
| P/E Ratio → | 3.10 | 2.98 | 7.51 | 5.76 | 12.38 | 5.24 | 9.55 | — | 4.66 | 5.37 | 6.13 |
| P/S Ratio | 8.23 | 7.69 | 5.46 | 4.75 | 9.09 | 4.77 | 7.63 | 21.56 | 3.61 | 4.70 | 5.19 |
| P/B Ratio | 0.86 | 0.82 | 0.98 | 1.00 | 1.00 | 1.20 | 1.06 | 0.70 | 0.93 | 0.92 | 0.91 |
| P/FCF | — | — | 4.31 | 5.70 | — | 6.87 | 9.06 | 7.31 | 4.07 | — | 8.42 |
| P/OCF | — | — | 4.31 | 5.70 | — | 6.87 | 9.06 | 7.31 | 4.07 | — | 8.42 |
P/E links to full P/E history page with 30-year chart
GAIN EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Gladstone Investment Corporation's enterprise value stands at 5.1x EBITDA, 56% below its 5-year average of 11.6x. The Financial Services sector median is 11.4x, placing the stock at a 55% discount on an enterprise-value basis.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 15.57 | 10.37 | 8.59 | 15.07 | 6.97 | 12.17 | 25.87 | 4.15 | 6.27 | 6.55 |
| EV / EBITDA | 5.10 | 4.93 | 14.27 | 10.39 | 20.57 | 7.65 | 15.25 | — | 5.32 | 7.11 | 7.73 |
| EV / EBIT | 5.10 | 4.93 | 14.27 | 10.39 | 20.57 | 7.65 | 15.25 | — | 5.36 | 7.17 | 7.74 |
| EV / FCF | — | — | 8.18 | 10.31 | — | 10.04 | 14.45 | 8.77 | 4.67 | — | 10.63 |
GAIN Profitability
Margins and return-on-capital ratios measuring operating efficiency
Gladstone Investment Corporation earns an operating margin of 315.8%, significantly above the Financial Services sector average of 20.3%. Operating margins have expanded from 82.7% to 315.8% over the past 3 years, signaling improving operational efficiency. Return on equity of 31.7% is exceptionally high — well above the sector median of 9.0%. ROIC of 15.5% represents solid returns on invested capital versus a sector median of 5.5%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 19.4% | 19.4% | 68.6% | 76.6% | 67.3% | 88.3% | 91.6% | 66.9% | 94.2% | 94.2% | 93.3% |
| Operating Margin | 315.8% | 315.8% | 72.7% | 82.7% | 73.2% | 91.2% | 79.8% | -60.5% | 77.4% | 87.5% | 84.6% |
| Net Profit Margin | 258.5% | 258.5% | 72.7% | 82.7% | 73.2% | 91.2% | 79.8% | -60.5% | 77.4% | 87.5% | 84.6% |
Return on Capital
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 31.7% | 31.7% | 13.2% | 18.3% | 8.0% | 24.7% | 11.3% | -1.9% | 21.4% | 18.5% | 15.4% |
| ROA | 15.9% | 15.9% | 6.7% | 10.0% | 4.7% | 14.8% | 7.0% | -1.2% | 13.1% | 10.8% | 8.8% |
| ROIC | 15.5% | 15.5% | 5.3% | 7.9% | 3.7% | 11.5% | 6.1% | -1.2% | 13.1% | 10.8% | 8.9% |
| ROCE | 25.3% | 25.3% | 6.8% | 10.1% | 4.7% | 15.0% | 7.1% | -1.2% | 13.1% | 10.8% | 8.8% |
GAIN Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Gladstone Investment Corporation carries a Debt/EBITDA ratio of 2.5x, which is moderately leveraged (41% below the sector average of 4.3x). Net debt stands at $563M ($564M total debt minus $1M cash). Interest coverage of 5.5x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.84 | 0.84 | 0.91 | 0.81 | 0.67 | 0.59 | 0.64 | 0.15 | 0.14 | 0.32 | 0.25 |
| Debt / EBITDA | 2.50 | 2.50 | 6.98 | 4.67 | 8.23 | 2.55 | 5.74 | — | 0.71 | 1.84 | 1.67 |
| Net Debt / Equity | — | 0.84 | 0.88 | 0.80 | 0.66 | 0.55 | 0.63 | 0.14 | 0.14 | 0.31 | 0.24 |
| Net Debt / EBITDA | 2.50 | 2.50 | 6.76 | 4.64 | 8.16 | 2.42 | 5.69 | — | 0.69 | 1.78 | 1.60 |
| Debt / FCF | — | — | 3.87 | 4.60 | — | 3.17 | 5.39 | 1.46 | 0.60 | — | 2.21 |
| Interest Coverage | 5.50 | 5.50 | 2.31 | 3.54 | 2.24 | 7.82 | 9.56 | -1.83 | 13.27 | 15.04 | 12.64 |
GAIN Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.01x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 3.22x to 0.01x over the past 3 years.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.01 | 0.01 | 3.69 | 3.22 | 3.11 | 7.91 | 0.43 | 5.71 | 6.50 | 10.37 | 12.82 |
| Quick Ratio | 0.01 | 0.01 | 3.69 | 3.22 | 3.11 | 7.91 | 0.43 | 5.71 | 6.50 | 10.37 | 12.82 |
| Cash Ratio | 0.00 | 0.00 | 2.32 | 0.59 | 0.87 | 4.75 | 0.12 | 2.27 | 1.91 | 3.97 | 4.96 |
| Asset Turnover | — | 0.05 | 0.09 | 0.11 | 0.06 | 0.15 | 0.08 | 0.02 | 0.17 | 0.11 | 0.10 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
GAIN Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Gladstone Investment Corporation returns 10.0% to shareholders annually primarily through dividends. The payout ratio of 30.9% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 32.3% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 10.0% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 30.9% | 30.9% | 93.3% | 89.2% | 132.4% | 38.0% | — | — | 37.4% | 47.7% | 50.7% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 32.3% | 33.6% | 13.3% | 17.4% | 8.1% | 19.1% | 10.5% | — | 21.5% | 18.6% | 16.3% |
| FCF Yield | — | — | 23.2% | 17.5% | — | 14.6% | 11.0% | 13.7% | 24.6% | — | 11.9% |
| Buyback Yield | 0.0% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 10.0% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $39M | $37M | $34M | $33M | $33M | $33M | $33M | $33M | $32M | $30M |
Peer Comparison
Compare GAIN with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 GAINYou | $589M | 3.1 | 5.1 | — | 19.4% | 315.8% | 31.7% | 15.5% | 2.5 |
 HTGC | $3B | 8.4 | 14.1 | — | 87.2% | 66.7% | 16.2% | 6.6% | 6.3 |
 ARCC | $13B | 9.7 | 12.8 | 11.3 | 75.7% | 69.7% | 9.4% | 5.7% | 7.3 |
 GBDC | $3B | 8.7 | 11.8 | — | 81.5% | 78.9% | 9.4% | 5.9% | 7.1 |
 TPVG | $203M | 4.1 | 8.6 | — | 83.5% | 77.9% | 14.1% | 7.2% | 6.2 |
 CSWC | $1B | 12.1 | 12.9 | — | 94.3% | 76.9% | 11.9% | 7.1% | 5.8 |
 MRCC | $110M | 9.6 | — | 0.9 | 60.8% | 51.7% | 6.4% | 2.0% | 17.4 |
 PFLT | $742M | 10.4 | 35.5 | 7.8 | 45.6% | 39.4% | 6.8% | 2.1% | 26.3 |
 GLAD | $422M | 7.3 | 6.4 | 9.7 | 87.3% | 55.5% | 12.1% | 7.2% | 3.3 |
 GOOD | $584M | 29.4 | 12.1 | 8.7 | 5.9% | 37.2% | 7.5% | 4.4% | 7.2 |
 LAND | $374M | -29.9 | 15.1 | — | -5.7% | 27.2% | 2.0% | 1.5% | 9.2 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 21 years · Updated daily
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GAIN — Frequently Asked Questions
Quick answers to the most common questions about buying GAIN stock.
What is Gladstone Investment Corporation's P/E ratio?
Gladstone Investment Corporation's current P/E ratio is 3.1x. The historical average is 10.9x. This places it at the 6th percentile of its historical range.
What is Gladstone Investment Corporation's EV/EBITDA?
Gladstone Investment Corporation's current EV/EBITDA is 5.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.9x.
What is Gladstone Investment Corporation's ROE?
Gladstone Investment Corporation's return on equity (ROE) is 31.7%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 10.0%.
Is GAIN stock overvalued?
Based on historical data, Gladstone Investment Corporation is trading at a P/E of 3.1x. This is at the 6th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Gladstone Investment Corporation's dividend yield?
Gladstone Investment Corporation's current dividend yield is 9.99% with a payout ratio of 30.9%.
What are Gladstone Investment Corporation's profit margins?
Gladstone Investment Corporation has 19.4% gross margin and 315.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Gladstone Investment Corporation have?
Gladstone Investment Corporation's Debt/EBITDA ratio is 2.5x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.