Gladstone Commercial Corporation (GOOD) Financial Ratios
23 years of historical data (2003–2025) · Real Estate · REIT - Diversified
EV/EBITDA
↓
12.10
-10% vs avg
5yr avg: 13.41
30Y Low9.0·High51.8
P/FCF
↓
8.70
↓-22% vs avg
5yr avg: 11.09
30Y Low7.4·High22.0
P/B Ratio
↓
1.67
↓-51% vs avg
5yr avg: 3.41
30Y Low0.2·High4.6
ROE
↑
7.5%
↓+6% vs avg
5yr avg: 7.1%
30Y Low-3%·High15%
Debt/EBITDA
↓
7.25
+3% vs avg
5yr avg: 7.06
30Y Low5.3·High16.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
GOOD Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Gladstone Commercial Corporation trades at 29.4x earnings, 33% below its 5-year average of 44.2x, sitting at the 13th percentile of its historical range. Compared to the Real Estate sector median P/E of 24.1x, the stock trades at a premium of 22%. On a free-cash-flow basis, the stock trades at 8.7x P/FCF, 22% below the 5-year average of 11.1x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $584M | $504M | $678M | $529M | $726M | $942M | $622M | $671M | $514M | $555M | $466M |
| Enterprise Value | $1.4B | $1.3B | $1.4B | $1.3B | $1.5B | $1.6B | $1.3B | $1.3B | $1.1B | $1.1B | $971M |
| P/E Ratio → | 29.44 | 26.02 | 62.46 | — | — | — | 200.00 | — | 597.33 | — | — |
| P/S Ratio | 3.62 | 3.12 | 4.54 | 3.58 | 4.87 | 6.84 | 4.67 | 5.87 | 4.81 | 5.86 | 5.40 |
| P/B Ratio | 1.67 | 1.47 | 3.96 | 3.43 | 3.53 | 4.65 | 2.88 | 3.18 | 2.02 | 0.70 | 0.63 |
| P/FCF | 8.70 | 7.50 | 11.91 | 9.85 | 11.65 | 14.54 | 10.53 | 11.15 | 22.01 | — | — |
| P/OCF | 6.63 | 5.72 | 11.91 | 8.76 | 10.50 | 13.43 | 9.50 | 11.15 | 9.24 | 11.85 | 11.33 |
P/E links to full P/E history page with 30-year chart
GOOD EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Gladstone Commercial Corporation's enterprise value stands at 12.1x EBITDA, 10% below its 5-year average of 13.4x. The Real Estate sector median is 17.0x, placing the stock at a 29% discount 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 | — | 8.36 | 9.14 | 8.54 | 9.86 | 11.96 | 9.66 | 11.34 | 10.05 | 11.51 | 11.24 |
| EV / EBITDA | 12.10 | 11.42 | 12.76 | 11.60 | 13.99 | 17.29 | 13.92 | 14.72 | 10.05 | 14.34 | 13.76 |
| EV / EBIT | 23.85 | 22.05 | 22.21 | 29.84 | 33.98 | 43.58 | 30.77 | 34.28 | 27.88 | 35.76 | 32.52 |
| EV / FCF | — | 20.09 | 23.96 | 23.48 | 23.56 | 25.42 | 21.74 | 21.54 | 45.98 | — | — |
GOOD Profitability
Margins and return-on-capital ratios measuring operating efficiency
Gladstone Commercial Corporation earns an operating margin of 37.2%, above the Real Estate sector average of 24.8%. Operating margins have expanded from 34.4% to 37.2% over the past 3 years, signaling improving operational efficiency. ROE of 7.5% is modest. ROIC of 4.4% represents below-average returns on invested capital.
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 | 5.9% | 5.9% | 78.9% | 78.2% | 77.7% | 76.0% | 76.2% | 84.5% | 89.3% | 91.9% | 93.2% |
| Operating Margin | 37.2% | 37.2% | 34.2% | 34.4% | 30.1% | 26.2% | 27.7% | 31.4% | 33.4% | 35.1% | 38.3% |
| Net Profit Margin | 12.0% | 12.0% | 16.1% | 3.4% | 7.3% | 7.9% | 11.2% | 8.4% | 11.5% | 6.3% | 4.6% |
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 | 7.5% | 7.5% | 14.7% | 2.8% | 5.3% | 5.2% | 7.0% | 4.1% | 2.4% | 0.8% | 0.8% |
| ROA | 1.6% | 1.6% | 2.2% | 0.4% | 0.9% | 1.0% | 1.4% | 1.0% | 1.3% | 0.7% | 0.5% |
| ROIC | 4.4% | 4.4% | 4.4% | 4.2% | 3.6% | 3.0% | 3.2% | 3.3% | 2.5% | 1.9% | 2.5% |
| ROCE | 5.3% | 5.3% | 4.9% | 4.8% | 4.1% | 3.4% | 3.7% | 3.9% | 4.0% | 3.9% | 4.2% |
GOOD Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Gladstone Commercial Corporation carries a Debt/EBITDA ratio of 7.2x, which is highly leveraged (8% below the sector average of 7.9x). Net debt stands at $846M ($856M total debt minus $11M cash). Interest coverage of just 1.5x 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 | 2.50 | 2.50 | 4.07 | 4.82 | 3.67 | 3.52 | 3.12 | 3.00 | 2.22 | 0.69 | 0.69 |
| Debt / EBITDA | 7.25 | 7.25 | 6.52 | 6.85 | 7.19 | 7.49 | 7.30 | 7.18 | 5.30 | 7.13 | 7.22 |
| Net Debt / Equity | — | 2.47 | 4.01 | 4.74 | 3.61 | 3.48 | 3.07 | 2.96 | 2.20 | 0.68 | 0.69 |
| Net Debt / EBITDA | 7.15 | 7.15 | 6.42 | 6.74 | 7.07 | 7.40 | 7.18 | 7.10 | 5.24 | 7.04 | 7.15 |
| Debt / FCF | — | 12.59 | 12.05 | 13.63 | 11.91 | 10.88 | 11.22 | 10.39 | 23.97 | — | — |
| Interest Coverage | 1.46 | 1.46 | 1.64 | 1.13 | 1.33 | 1.41 | 1.56 | 1.34 | 1.47 | 1.24 | 1.15 |
GOOD Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.63x means Gladstone Commercial Corporation can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 0.43x to 1.63x 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 | 1.63 | 1.63 | 1.10 | 0.43 | 0.37 | 0.29 | 0.41 | 0.29 | 0.98 | 2.00 | 1.12 |
| Quick Ratio | 1.63 | 1.63 | 0.99 | 0.20 | 0.33 | 0.29 | 0.41 | 0.29 | 1.00 | 2.02 | 1.12 |
| Cash Ratio | 0.30 | 0.30 | 0.28 | 0.10 | 0.15 | 0.11 | 0.14 | 0.09 | 0.12 | 0.22 | 0.10 |
| Asset Turnover | — | 0.13 | 0.14 | 0.13 | 0.12 | 0.12 | 0.12 | 0.11 | 0.11 | 0.10 | 0.10 |
| Inventory Turnover | — | — | 7.27 | 1.17 | 10.07 | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
GOOD Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Gladstone Commercial Corporation returns 12.7% to shareholders annually — split between a 12.0% dividend yield and 0.8% buyback yield. The payout ratio exceeds 100% at 353.4%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 3.4% (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 | 12.0% | 13.5% | 9.3% | 11.5% | 9.8% | 7.2% | 10.2% | 8.8% | 10.6% | 9.1% | 9.1% |
| Payout Ratio | 353.4% | 353.4% | 261.6% | — | — | 618.1% | — | 611.6% | 442.9% | 849.0% | 1073.6% |
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 | 3.4% | 3.8% | 1.6% | — | — | — | 0.5% | — | 0.2% | — | — |
| FCF Yield | 11.5% | 13.3% | 8.4% | 10.2% | 8.6% | 6.9% | 9.5% | 9.0% | 4.5% | — | — |
| Buyback Yield | 0.8% | 0.9% | 0.3% | 0.3% | 0.0% | 9.3% | 0.0% | 0.0% | 0.0% | 0.0% | 8.3% |
| Total Shareholder Yield | 12.7% | 14.4% | 9.5% | 11.8% | 9.8% | 16.5% | 10.2% | 8.8% | 10.6% | 9.1% | 17.4% |
| Shares Outstanding | — | $47M | $42M | $40M | $39M | $37M | $35M | $31M | $29M | $26M | $23M |
Peer Comparison
Compare GOOD 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 |
|---|---|---|---|---|---|---|---|---|---|
 GOODYou | $584M | 29.4 | 12.1 | 8.7 | 5.9% | 37.2% | 7.5% | 4.4% | 7.2 |
 GTY | $2B | 24.2 | 16.4 | 15.6 | 40.2% | 54.9% | 7.8% | 4.6% | 5.7 |
 FCPT | $3B | 22.5 | 17.3 | 14.0 | 95.4% | 55.7% | 7.3% | 4.5% | 5.4 |
 EPRT | $6B | 22.9 | 17.1 | 16.7 | 84.0% | 64.5% | 6.5% | 4.4% | 4.9 |
 NTST | $2B | 234.1 | 21.3 | 17.4 | 90.0% | 30.4% | 0.5% | 1.7% | 7.9 |
 PINE | $274M | -87.0 | 14.5 | — | -10.9% | 30.5% | -0.9% | 2.2% | 8.6 |
 LAND | $374M | -29.9 | 15.1 | — | -5.7% | 27.2% | 2.0% | 1.5% | 9.2 |
 O | $56B | 51.5 | 21.6 | 14.1 | 89.8% | 28.3% | 2.7% | 1.8% | 8.0 |
 NNN | $9B | 21.7 | 16.0 | 12.8 | 38.0% | 61.5% | 8.9% | 4.8% | 5.8 |
 ADC | $9B | 41.4 | 19.7 | 17.5 | 87.7% | 47.4% | 3.5% | 2.8% | 5.4 |
 WPC | $16B | 33.8 | 18.8 | 14.3 | 28.6% | 44.4% | 5.6% | 3.5% | 6.8 |
| Real Estate Median | — | 24.1 | 17.0 | 15.4 | 49.3% | 24.8% | 3.7% | 2.7% | 7.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 23 years · Updated daily
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GOOD — Frequently Asked Questions
Quick answers to the most common questions about buying GOOD stock.
What is Gladstone Commercial Corporation's P/E ratio?
Gladstone Commercial Corporation's current P/E ratio is 29.4x. The historical average is 69.3x. This places it at the 13th percentile of its historical range.
What is Gladstone Commercial Corporation's EV/EBITDA?
Gladstone Commercial Corporation's current EV/EBITDA is 12.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.0x.
What is Gladstone Commercial Corporation's ROE?
Gladstone Commercial Corporation's return on equity (ROE) is 7.5%. The historical average is 3.4%.
Is GOOD stock overvalued?
Based on historical data, Gladstone Commercial Corporation is trading at a P/E of 29.4x. This is at the 13th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Gladstone Commercial Corporation's dividend yield?
Gladstone Commercial Corporation's current dividend yield is 11.96% with a payout ratio of 353.4%.
What are Gladstone Commercial Corporation's profit margins?
Gladstone Commercial Corporation has 5.9% gross margin and 37.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Gladstone Commercial Corporation have?
Gladstone Commercial Corporation's Debt/EBITDA ratio is 7.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.