Gladstone Investment Corporation – Business Development Company
Description
Gladstone 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.
About
CEO
Mr. David John Gladstone
Employees
0
Instrument type
Common Stock
Sector
Financial Services
Industry
Asset Management
MIC code
XNGS
Address
1521 Westbranch Drive, McLean, VA 22102, United States
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![Enlarged Chart]()
Oscillators
No data available
Summary
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Moving Averages
No data available
Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Nov 6, 2025 | — | — | — | — |
| Aug 5, 2025 | — | — | — | — |
| May 7, 2025 | — | — | — | — |
| Feb 13, 2025 | 0.24 | — | — | — |
| Feb 5, 2025 | 0.24 | — | — | — |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Current Year
(Mar 2025)
|
Next Year
(Mar 2026)
|
||
|---|---|---|---|---|
| Number of analysts | — | 5 | 5 | 5 |
| Average estimate | — | 0.23 | 1.00 | 0.92 |
| Low estimate | — | 0.21 | 0.96 | 0.82 |
| High estimate | — | 0.24 | 1.08 | 0.96 |
| Last year EPS | — | 0.15 | 0.63 | 1.00 |
[stock_revenue_estimate]
Growth estimates
Current qtr
-15.000%
Next qtr. (Mar 2025)
54.670%
Current year (Mar 2025)
59.050%
Next year (Mar 2026)
-8.580%
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Fiscal date | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 | 2020-03-31 |
| Total reported revenue | 79.05M | 32.66M | 99.15M | 48.73M | 8.01M |
| Cost of revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating expense | |||||
| Research & development | — | — | — | — | — |
| Selling general and admin | 6.15M | 7.00M | 6.40M | 5.88M | 6.42M |
| Other operating expenses | -12.41M | -9.89M | -9.57M | 393,000 | 8.82M |
| Operating income | — | — | — | — | — |
| Non operating interest income | |||||
| Income | — | — | — | — | — |
| Expense | — | — | — | — | — |
| Other income expense | — | — | — | — | — |
| Pretax income | 85.31M | 35.55M | 102.32M | 42.45M | -7.23M |
| Tax provision | — | — | — | — | 10.26M |
| Net income | 85.31M | 35.55M | 102.32M | 42.45M | -7.23M |
| Basic EPS | 2.47 | 1.07 | 3.08 | 1.28 | -0.22 |
| Diluted EPS | 2.47 | 1.07 | 3.08 | 1.28 | -0.22 |
| Basic average shares | 34.47M | 33.31M | 33.21M | 33.18M | 32.87M |
| Diluted average shares | 34.47M | 33.31M | 33.21M | 33.18M | 32.87M |
| EBITDA | — | — | — | — | — |
| Net income from continuing op. | 85.31M | 35.55M | 102.32M | 42.45M | -7.23M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Fiscal date | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 | 2020-03-31 |
| Total assets | — | — | — | — | — |
| Current assets | |||||
| Cash | — | — | — | — | — |
| Cash equivalents | — | — | — | — | 2.78M |
| Cash and cash equivalents | 2.46M | 2.68M | 14.19M | 2.06M | 2.78M |
| Other short term investments | — | — | — | — | — |
| Accounts receivable | — | — | — | — | — |
| Other receivables | — | — | — | — | — |
| Inventory | — | — | — | — | — |
| Prepaid assets | — | — | — | — | — |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | — | — | — | — | — |
| Non current assets | |||||
| Properties | — | — | — | — | — |
| Land and improvements | — | — | — | — | — |
| Machinery furniture equipment | — | — | — | — | — |
| Construction in progress | — | — | — | — | — |
| Leases | — | — | — | — | — |
| Accumulated depreciation | — | — | — | — | — |
| Goodwill | — | — | — | — | — |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | — | — | — | — | — |
| Investments and advances | 920.50M | 753.54M | 714.40M | 633.83M | 565.92M |
| Other non current assets | — | — | — | — | — |
| Total liabilities | — | — | — | — | — |
| Current liabilities | |||||
| Accounts payable | 4.20M | 3.10M | 2.99M | 1.15M | 1.22M |
| Accrued expenses | — | — | — | — | — |
| Short term debt | — | — | — | — | — |
| Deferred revenue | — | — | — | — | — |
| Tax payable | — | — | — | — | — |
| Pensions | — | — | — | — | — |
| Other current liabilities | — | — | — | — | — |
| Non current liabilities | |||||
| Long term debt | 398.35M | 292.61M | 261.35M | 151.38M | 54.30M |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | — | — | — | — | — |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | — | — | — | — | — |
| Shareholders equity | |||||
| Common stock | 37,000 | 34,000 | 33,000 | 33,000 | 33,000 |
| Retained earnings | -19.56M | -5.53M | -13.00M | 2.59M | 6.37M |
| Other shareholders equity | — | — | — | — | — |
| Total shareholders equity | 492.71M | 439.74M | 445.83M | 382.36M | 369.03M |
| Additional paid in capital | 444.71M | 401.80M | 397.95M | 400.80M | 401.02M |
| Treasury stock | — | — | — | — | — |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||||||
| Net Income | 85.31M | 35.55M | 102.32M | 42.45M | -7.23M | 81.59M | 60.69M | 44.76M | 24.85M | 50.21M | -1.33M | 17.28M | 21.97M | 16.44M | -11.07M | -11.45M | -941,000 | 7.27M | 6.05M |
| Depreciation | — | — | — | — | — | — | — | — | — | — | — | — | -9,000 | 8,000 | 2,000 | 19.87M | 11.80M | 4.13M | — |
| Deferred Taxes | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Non-Cash Items | 2.31M | 2.15M | 2.58M | 1.82M | 1.91M | 3.26M | 1.76M | 2.53M | 2.18M | 1.44M | 1.06M | 791,000 | 459,000 | 499,000 | 1.62M | 377,000 | 956,000 | 576,000 | -153.60M |
| Accounts Receivable | -4.12M | 2.51M | -5.37M | -377,000 | -107,000 | 752,000 | -1.77M | -853,000 | 1.74M | -3.39M | -7,000 | -209,000 | -1.18M | 573,000 | 2.04M | 1.86M | 7.94M | -13.24M | -651,386 |
| Accounts Payable | — | — | — | — | — | — | — | — | — | — | — | — | — | -1,000 | -1.08M | — | — | — | — |
| Other Assets & Liabilities | 304,000 | -4,000 | 254,000 | -13.99M | -106,000 | 14.31M | 1.81M | 2.43M | -3.33M | 5.22M | -4.00M | 192,000 | 4.36M | -7.64M | 325,000 | 571,000 | -666,000 | 364,764 | — |
| Operating Cash Flow | 83.80M | 40.21M | 99.77M | 29.91M | -5.54M | 99.91M | 62.49M | 48.87M | 25.44M | 53.49M | -4.28M | 18.05M | 25.60M | 9.88M | -8.16M | 11.22M | 19.09M | -903,110 | -148.20M |
| Investing Activities | |||||||||||||||||||
| Capital Expenditures | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Intangibles | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Purchase of Investments | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Sale of Investments | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Investing Cash Flow | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing Activities | |||||||||||||||||||
| Long-Term Debt Issuance | 317.05M | 102.50M | 246.25M | 253.84M | 188.30M | 205.50M | 132.10M | 83.40M | 105.00M | 144.65M | 201.86M | 399.06M | 313.71M | 231.40M | 397.50M | 123.85M | 222.85M | 103.50M | — |
| Long-Term Debt Payments | -210.50M | -67.30M | -134.10M | -152.70M | -192.10M | -259.50M | -94.80M | -108.70M | -128.80M | -87.00M | -229.63M | -381.05M | -277.70M | -294.20M | -404.97M | -158.42M | -178.02M | -3.50M | -50,000 |
| Other Financing Charges | — | — | — | — | — | — | — | — | — | — | -75,000 | — | -29,000 | -41,000 | -194,000 | — | — | — | — |
| Financing Cash Flow | 75.00M | -6.36M | -21.07M | 33.83M | -34.59M | -89.54M | 30.86M | -30.50M | -2.59M | 102.88M | -46.64M | 36.43M | 98.40M | -136.23M | -25.88M | -49.33M | 74.24M | 185.71M | 223.78M |
| Other Cash Details | |||||||||||||||||||
| End Cash Position | 3.22M | 3.25M | 14.50M | 2.40M | 4.06M | 3.61M | 3.97M | 4.10M | 4.48M | 4.92M | 4.55M | 85.90M | 91.55M | 80.58M | 87.72M | 7.24M | 9.36M | 37.79M | 75.67M |
| Income Tax Paid | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Interest Paid | — | — | — | — | — | — | — | — | — | — | — | — | 777,000 | 762,000 | 2.18M | 5.43M | 7.37M | — | — |
| Free Cash Flow | -69.94M | -4.50M | 36.60M | -29.73M | 35.31M | 93.62M | -29.73M | 32.60M | 4.08M | -97.55M | -33.61M | -39.73M | -48.67M | 67.08M | 99.27M | 13.61M | -57.40M | -122.73M | -148.11M |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| VanEck ETF Trust -VanEck BDC Income ETF | Nov 30, 2024 | 889,272 | 12.09M | 2.42% |
| ETFis Ser Tr I-Virtus Private Credit Strategy ETF | Oct 31, 2024 | 65,141 | 885,266 | 0.18% |
| RBC Fds Tr-RBC Micro Cap Value Fd | Sep 30, 2024 | 10,200 | 138,618 | 0.03% |
| Mason Capital Fund Tr-Fundamentals First ETF | Dec 31, 2024 | 1,864 | 25,331 | 0.01% |
| Blackstone Alternative Multi-Strategy Fund | Sep 30, 2024 | 700 | 9,513 | 0.00% |
| EA Series Trust-WHITEWOLF Publicly Listed Private Equity ETF | Oct 31, 2024 | 306 | 4,158 | 0.00% |
| John Hancock Var Ins Tr-Total Stock Market Index Tr | Sep 30, 2024 | 740 | 10,056 | 0.00% |
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