Gladstone Investment Corporation (GAINI) 10-Year Financial Performance & Capital Metrics

GAINI • • Banking & Credit

Financial ServicesAsset ManagementBusiness Development Companies (BDCs)Middle Market 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 invests in companies with EBITDA from $4 million to $15 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 $0
Total Revenue $157M +33.4%
Net Income $0 -100.0%
Return on Equity -
Net Interest Margin 0%
Efficiency Ratio 5.23%
ROA -
Equity / Assets 52.52%
Book Value per Share 13.41 -6.2%
Tangible BV/Share 13.41 -6.2%
Debt/Equity 0.81

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 5.2% efficiency ratio
✓Well capitalized: 52.5% equity/assets
✓Diversified revenue: 100.0% from non-interest income
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y22.66%

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM68.25%

EPS CAGR

10Y-

5Y-

3Y-16.7%

TTM65.09%

ROCE

10Y Avg11.93%

5Y Avg11.93%

3Y Avg10.15%

Latest10.28%

Peer Comparison

Middle Market Lenders

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GSBDGoldman Sachs BDC, Inc.	1.08B	9.43	17.15	-57.7%	32.67%	9.15%	18.68%	1.23
CSWCCapital Southwest Corporation	1.36B	23.72	16.14	7.67%	43.07%	9.13%		1.08
HCXYHercules Capital, Inc.	2.36B	25.18	15.64	-9.71%	62.54%	14.13%		0.90
TRINITrinity Capital Inc. 7.875% Notes Due 2029	1.91B	25.41	12.10	29.68%	50.98%	15.22%	4.92%	1.08
HTGCHercules Capital, Inc.	3.45B	18.97	11.78	-12.79%	61.03%	14.17%		0.90
TSLXSixth Street Specialty Lending, Inc.	2.12B	22.40	11.03	-2.72%	51.86%	11.83%	8.85%	1.18
MAINMain Street Capital Corporation	5.75B	64.20	10.97	18.32%	70.11%	18.28%		0.76
GBDCGolub Capital BDC, Inc.	3.68B	13.95	9.82	80.52%	46.2%	9.4%

Profit & Loss

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Net Interest Income+	0	0	0	0	0
NII Growth %	-	-	-	-	-
Net Interest Margin %	-	-	-	-	-
Interest Income	0	0	0	0	0
Interest Expense	0	0	0	0	0
Loan Loss Provision	19.56M	35.78M	21.68M	34.74M	28.18M
Non-Interest Income+	67.22M	85M	92.3M	117.56M	156.85M
Non-Interest Income %	-	-	-	-	-
Total Revenue+	67.22M	85M	92.3M	117.56M	156.85M
Revenue Growth %	-	0.26%	0.09%	0.27%	0.33%
Non-Interest Expense	0	0	0	0	8.21M
Efficiency Ratio	-	-	-	-	-
Operating Income+	57.32M	119.5M	53.23M	111.73M	96.42M
Operating Margin %	-	-	-	-	-
Operating Income Growth %	-	1.08%	-0.55%	1.1%	-0.14%
Pretax Income+	42.45M	102.32M	35.55M	85.31M	65.32M
Pretax Margin %	-	-	-	-	-
Income Tax+	0	0	0	0	0
Effective Tax Rate %	-	-	-	-	-
Net Income+	42.45M	102.32M	35.55M	85.31M	0
Net Margin %	-	-	-	-	-
Net Income Growth %	-	1.41%	-0.65%	1.4%	-1%
Net Income (Continuing)	42.45M	102.32M	35.55M	85.31M	65.32M
EPS (Diluted)+	1.28	3.08	1.07	2.48	1.78
EPS Growth %	-	1.41%	-0.65%	1.32%	-0.28%
EPS (Basic)	1.28	3.08	1.07	2.48	1.78
Diluted Shares Outstanding	33.18M	33.21M	33.31M	34.47M	36.74M

Balance Sheet

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	2.4M	14.49M	3.25M	3.22M	3.22M
Short Term Investments	0	0	0	0	0
Total Investments+	0	0	0	0	0
Investments Growth %	-	-	-	-	-
Long-Term Investments	0	0	0	0	0
Accounts Receivables	0	0	0	0	0
Goodwill & Intangibles+	-	-	-	-	-
Goodwill	0	0	0	0	0
Intangible Assets	0	0	0	0	0
PP&E (Net)	0	0	0	0	0
Other Assets	0	0	0	0	0
Total Current Assets	0	0	0	0	0
Total Non-Current Assets	0	0	0	0	0
Total Assets+	643.73M	740.41M	765.64M	938.08M	938.08M
Asset Growth %	-	0.15%	0.03%	0.23%	0%
Return on Assets (ROA)	0.07%	0.15%	0.05%	0.1%	-
Accounts Payable	0	0	0	0	0
Total Debt+	243.59M	261.35M	292.61M	398.35M	398.35M
Net Debt	241.19M	246.85M	289.36M	395.13M	395.13M
Long-Term Debt	243.59M	261.35M	292.61M	398.35M	398.35M
Short-Term Debt	0	0	0	0	0
Other Liabilities	-243.59M	-261.35M	-292.61M	-398.35M	-398.35M
Total Current Liabilities	0	0	0	0	0
Total Non-Current Liabilities	0	0	0	0	0
Total Liabilities	261.37M	294.58M	325.9M	445.37M	445.37M
Total Equity+	382.36M	445.83M	439.74M	492.71M	492.71M
Equity Growth %	-	0.17%	-0.01%	0.12%	0%
Equity / Assets (Capital Ratio)	-	-	-	-	-
Return on Equity (ROE)	0.11%	0.25%	0.08%	0.18%	-
Book Value per Share	11.53	13.43	13.20	14.30	13.41
Tangible BV per Share	-	-	-	-	-
Common Stock	33K	33K	34K	37K	37K
Additional Paid-in Capital	400.8M	397.95M	401.8M	444.71M	444.71M
Retained Earnings	11.27M	2.7M	4.97M	-18.25M	-18.25M
Accumulated OCI	-29.73M	45.15M	32.94M	66.21M	66.21M
Treasury Stock	0	0	0	0	0
Preferred Stock	0	0	0	0	0

Cash Flow

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	44.81M	77.94M	76.95M	85.99M	85.99M
Operating CF Growth %	-	0.74%	-0.01%	0.12%	0%
Net Income	42.45M	102.32M	35.55M	85.31M	85.31M
Depreciation & Amortization	0	0	0	0	0
Deferred Taxes	0	0	0	0	0
Other Non-Cash Items	8.35M	-34.73M	39.14M	-8.99M	-8.99M
Working Capital Changes	-6M	10.35M	2.27M	9.68M	9.68M
Cash from Investing+	-74.54M	-41.34M	-81.46M	-155.92M	-155.92M
Purchase of Investments	-95.27M	-92.74M	-133.76M	-183.92M	-183.92M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-
Acquisitions	0	0	0	0	0
Other Investing	0	0	0	0	0
Cash from Financing+	28.07M	-24.5M	-6.74M	69.91M	69.91M
Dividends Paid	-30.86M	-38.85M	-47.05M	-76.06M	-76.06M
Share Repurchases	-57.5M	-94.37M	0	0	0
Stock Issued	21.02M	0	5.42M	43.9M	43.9M
Net Stock Activity	-	-	-	-	-
Debt Issuance (Net)	1000K	1000K	1000K	1000K	1000K
Other Financing	0	0	0	0	0
Net Change in Cash+	-1.66M	12.1M	-11.25M	-28K	-28K
Exchange Rate Effect	0	0	0	0	0
Cash at Beginning	4.06M	2.4M	14.49M	3.25M	3.25M
Cash at End	2.4M	14.49M	3.25M	3.22M	3.22M
Interest Paid	0	0	0	0	0
Income Taxes Paid	0	0	0	0	0
Free Cash Flow+	44.81M	77.94M	76.95M	85.99M	85.99M
FCF Growth %	-	0.74%	-0.01%	0.12%	0%

Banking Ratios

Metric	2020	2021	2022	2023	2024
Return on Equity (ROE)	11.1%	24.71%	8.03%	18.3%	-
Return on Assets (ROA)	6.59%	14.78%	4.72%	10.01%	-
Net Interest Margin	0%	0%	0%	0%	0%
Efficiency Ratio	0%	0%	0%	0%	5.23%
Equity / Assets	59.4%	60.21%	57.43%	52.52%	52.52%
Book Value / Share	11.53	13.43	13.2	14.3	13.41
Dividend Payout	72.69%	37.97%	132.36%	89.16%	-

Frequently Asked Questions

Valuation & Price

Gladstone Investment Corporation (GAINI) has a price-to-earnings (P/E) ratio of 14.3x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Gladstone Investment Corporation (GAINI) grew revenue by 33.4% over the past year. This is strong growth.

Yes, Gladstone Investment Corporation (GAINI) is profitable, generating $64.1M in net income for fiscal year 2024.

Dividend & Returns

Yes, Gladstone Investment Corporation (GAINI) pays a dividend with a yield of 8.14%. This makes it attractive for income-focused investors.

Industry Metrics

Gladstone Investment Corporation (GAINI) has a net interest margin (NIM) of N/A. NIM has been under pressure due to interest rate environment.

Gladstone Investment Corporation (GAINI) has an efficiency ratio of 5.2%. This is excellent, indicating strong cost control.

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