Gladstone Investment Corporation (GAIN) Financial Ratios
20 years of historical data (2006–2025) · Financial Services · Asset Management
EV/EBITDA
↓
16.95
↑+24% vs avg
5yr avg: 13.63
30Y Low5.3·High35.8
P/FCF
↓
5.84
-10% vs avg
5yr avg: 6.48
30Y Low1.3·High52.1
P/B Ratio
↓
1.23
+17% vs avg
5yr avg: 1.05
30Y Low0.4·High1.2
ROE
↑
13.2%
-13% vs avg
5yr avg: 15.1%
30Y Low-5%·High25%
Debt/EBITDA
↑
6.98
↑+24% vs avg
5yr avg: 5.63
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 9.4x earnings, 16% above its 5-year average of 8.1x, sitting at the 60th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.4x, the stock trades at a discount of 30%. On a free-cash-flow basis, the stock trades at 5.8x P/FCF, 10% below the 5-year average of 6.5x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $665M | $491M | $490M | $441M | $536M | $406M | $258M | $381M | $326M | $275M | $212M |
| Enterprise Value | $1.1B | $932M | $886M | $731M | $783M | $647M | $310M | $437M | $435M | $346M | $308M |
| P/E Ratio → | 9.39 | 7.51 | 5.76 | 12.38 | 5.24 | 9.55 | — | 4.66 | 5.37 | 6.13 | 8.56 |
| P/S Ratio | 7.40 | 5.46 | 4.75 | 9.09 | 4.77 | 7.63 | 21.56 | 3.61 | 4.70 | 5.19 | 6.38 |
| P/B Ratio | 1.23 | 0.98 | 1.00 | 1.00 | 1.20 | 1.06 | 0.70 | 0.93 | 0.92 | 0.91 | 0.76 |
| P/FCF | 5.84 | 4.31 | 5.70 | — | 6.87 | 9.06 | 7.31 | 4.07 | — | 8.42 | 52.05 |
| P/OCF | 5.84 | 4.31 | 5.70 | — | 6.87 | 9.06 | 7.31 | 4.07 | — | 8.42 | 52.05 |
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 16.9x EBITDA, 24% above its 5-year average of 13.6x. The Financial Services sector median is 11.4x, placing the stock at a 49% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 10.37 | 8.59 | 15.07 | 6.97 | 12.17 | 25.87 | 4.15 | 6.27 | 6.55 | 9.25 |
| EV / EBITDA | 16.95 | 14.27 | 10.39 | 20.57 | 7.65 | 15.25 | — | 5.32 | 7.11 | 7.73 | 12.40 |
| EV / EBIT | 16.95 | 14.27 | 10.39 | 20.57 | 7.65 | 15.25 | — | 5.36 | 7.17 | 7.74 | 12.40 |
| EV / FCF | — | 8.18 | 10.31 | — | 10.04 | 14.45 | 8.77 | 4.67 | — | 10.63 | 75.48 |
GAIN Profitability
Margins and return-on-capital ratios measuring operating efficiency
Gladstone Investment Corporation earns an operating margin of 72.7%, significantly above the Financial Services sector average of 21.2%. ROE of 13.2% is modest. ROIC of 5.3% represents adequate returns on invested capital versus a sector median of 5.7%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 68.6% | 68.6% | 76.6% | 67.3% | 88.3% | 91.6% | 66.9% | 94.2% | 94.2% | 93.3% | 87.5% |
| Operating Margin | 72.7% | 72.7% | 82.7% | 73.2% | 91.2% | 79.8% | -60.5% | 77.4% | 87.5% | 84.6% | 74.7% |
| Net Profit Margin | 72.7% | 72.7% | 82.7% | 73.2% | 91.2% | 79.8% | -60.5% | 77.4% | 87.5% | 84.6% | 74.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.2% | 13.2% | 18.3% | 8.0% | 24.7% | 11.3% | -1.9% | 21.4% | 18.5% | 15.4% | 9.0% |
| ROA | 6.7% | 6.7% | 10.0% | 4.7% | 14.8% | 7.0% | -1.2% | 13.1% | 10.8% | 8.8% | 5.0% |
| ROIC | 5.3% | 5.3% | 7.9% | 3.7% | 11.5% | 6.1% | -1.2% | 13.1% | 10.8% | 8.9% | 4.8% |
| ROCE | 6.8% | 6.8% | 10.1% | 4.7% | 15.0% | 7.1% | -1.2% | 13.1% | 10.8% | 8.8% | 5.1% |
GAIN Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Gladstone Investment Corporation carries a Debt/EBITDA ratio of 7.0x, which is highly leveraged (69% above the sector average of 4.1x). Net debt stands at $441M ($456M total debt minus $14M cash). Interest coverage of just 2.3x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.91 | 0.91 | 0.81 | 0.67 | 0.59 | 0.64 | 0.15 | 0.14 | 0.32 | 0.25 | 0.36 |
| Debt / EBITDA | 6.98 | 6.98 | 4.67 | 8.23 | 2.55 | 5.74 | — | 0.71 | 1.84 | 1.67 | 4.03 |
| Net Debt / Equity | — | 0.88 | 0.80 | 0.66 | 0.55 | 0.63 | 0.14 | 0.14 | 0.31 | 0.24 | 0.34 |
| Net Debt / EBITDA | 6.76 | 6.76 | 4.64 | 8.16 | 2.42 | 5.69 | — | 0.69 | 1.78 | 1.60 | 3.85 |
| Debt / FCF | — | 3.87 | 4.60 | — | 3.17 | 5.39 | 1.46 | 0.60 | — | 2.21 | 23.42 |
| Interest Coverage | 2.31 | 2.31 | 3.54 | 2.24 | 7.82 | 9.56 | -1.83 | 13.27 | 15.04 | 12.64 | 5.98 |
GAIN Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Gladstone Investment Corporation's current ratio of 3.69x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 3.11x to 3.69x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.69 | 3.69 | 3.22 | 3.11 | 7.91 | 0.43 | 5.71 | 6.50 | 10.37 | 12.82 | 8.45 |
| Quick Ratio | 3.69 | 3.69 | 3.22 | 3.11 | 7.91 | 0.43 | 5.71 | 6.50 | 10.37 | 12.82 | 8.45 |
| Cash Ratio | 2.32 | 2.32 | 0.59 | 0.87 | 4.75 | 0.12 | 2.27 | 1.91 | 3.97 | 4.96 | 4.25 |
| Asset Turnover | — | 0.09 | 0.11 | 0.06 | 0.15 | 0.08 | 0.02 | 0.17 | 0.11 | 0.10 | 0.07 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
GAIN Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Gladstone Investment Corporation returns 9.9% to shareholders annually primarily through dividends. The payout ratio of 93.3% is elevated — while still covered by earnings, there is limited headroom for dividend increases. The earnings yield of 10.7% (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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 9.9% | 12.4% | 15.5% | 10.7% | 7.3% | 7.6% | 13.1% | 8.0% | 8.9% | 8.3% | 10.7% |
| Payout Ratio | 93.3% | 93.3% | 89.2% | 132.4% | 38.0% | — | — | 37.4% | 47.7% | 50.7% | 91.3% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 10.7% | 13.3% | 17.4% | 8.1% | 19.1% | 10.5% | — | 21.5% | 18.6% | 16.3% | 11.7% |
| FCF Yield | 17.1% | 23.2% | 17.5% | — | 14.6% | 11.0% | 13.7% | 24.6% | — | 11.9% | 1.9% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 17.6% | 14.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 9.9% | 12.4% | 15.5% | 10.7% | 24.9% | 21.8% | 13.1% | 8.0% | 8.9% | 8.3% | 10.7% |
| Shares Outstanding | — | $37M | $34M | $33M | $33M | $33M | $33M | $33M | $32M | $30M | $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 | $665M | 9.4 | 16.9 | 5.8 | 68.6% | 72.7% | 13.2% | 5.3% | 7.0 |
 HTGC | $3B | 8.9 | 14.4 | — | 87.2% | 66.7% | 16.2% | 6.6% | 6.3 |
 ARCC | $14B | 10.3 | 13.2 | 12.0 | 75.7% | 69.7% | 9.4% | 5.7% | 7.3 |
 GBDC | $3B | 9.4 | 12.1 | — | 81.5% | 78.9% | 9.4% | 5.9% | 7.1 |
 TPVG | $226M | 4.6 | 8.9 | — | 83.5% | 77.9% | 14.1% | 7.2% | 6.2 |
 CSWC | $1B | 16.5 | 27.6 | — | 66.5% | 48.5% | 8.6% | 3.5% | 11.2 |
 MRCC | $110M | 9.6 | — | 0.9 | 60.8% | 51.7% | 6.4% | 2.0% | 17.4 |
 PFLT | $914M | 12.8 | 38.0 | 9.6 | 45.6% | 39.4% | 6.8% | 2.1% | 26.3 |
 GLAD | $434M | 7.5 | 6.5 | 9.9 | 87.3% | 55.5% | 12.1% | 7.2% | 3.3 |
 GOOD | $599M | 30.2 | 12.2 | 8.9 | 5.9% | 37.2% | 7.5% | 4.4% | 7.2 |
 LAND | $355M | -33.8 | 3.5 | 50.8 | 87.4% | 78.6% | -1.5% | 4.9% | — |
| Financial Services Median | — | 13.4 | 11.4 | 10.6 | 63.4% | 21.2% | 9.4% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonGAIN — 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 9.4x. The historical average is 11.5x. This places it at the 60th percentile of its historical range.
What is Gladstone Investment Corporation's EV/EBITDA?
Gladstone Investment Corporation's current EV/EBITDA is 16.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.4x.
What is Gladstone Investment Corporation's ROE?
Gladstone Investment Corporation's return on equity (ROE) is 13.2%. The historical average is 9.0%.
Is GAIN stock overvalued?
Based on historical data, Gladstone Investment Corporation is trading at a P/E of 9.4x. This is at the 60th 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 9.93% with a payout ratio of 93.3%.
What are Gladstone Investment Corporation's profit margins?
Gladstone Investment Corporation has 68.6% gross margin and 72.7% 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 7.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.