Gladstone Capital Corporation Financial Ratios — GLAD Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1,722.52	1,000.63
Return on Assets (%)	-7.17	-2.62	10.95	3.77	2.48	3.17	4.9	4.87	4.81	-0.42	16.44	3.24	6.18	12.37	6.76
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	121.92	408.57	87.46	62.55	60.41	63.52	80.48	81.43	81.83	99.26	97.98	99.27	94.86	96.12	100.81
Profit Margin (%)	121.92	408.57	87.46	62.55	60.41	63.52	80.48	81.43	81.83	99.26	97.98	99.27	94.86	96.12	100.81
Net Income to Common Margin (%)	121.92	408.57	87.46	62.55	60.41	63.52	80.48	81.43	81.83	99.26	97.98	99.27	94.86	95.9	99.22
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	-83.76	-220.4	54.75	157.04	208.63	171.43	124.76	122.27	123.71	-1,343.46	30.81	137.2	82.98	45.42	95.4
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	940.13	46.02

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	200	125	94	76	255	143	186	220	190	349	288	481	349	325	398
ST Debt	100	62	47	38	127	71	93	110	67	128	50	142	48	- -	- -
LT Debt	100	62	47	38	127	71	93	110	123	222	237	339	301	325	398
Total Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	0.04	-0.15	-0.03	-0.63	-0.4	1.28	-0.03	-0.05	0.04	- -	0.03	-0.07	0.67	0.76	0.58
Long-Term Debt/Equity (%)	46.8	33.12	22.87	19.04	66.49	35.44	42.39	46.4	49.26	94.78	74.46	107.58	73.63	68.93	82.54
Long-Term Debt/Capital (%)	49.97	50.18	50.04	51.29	50.3	48.54	50.03	50.04	64.62	63.44	82.39	70.6	85.12	95.86	98.7
Long-Term Debt/Total Assets (%)	31.49	21.29	15.96	12.61	33.28	21.25	25.45	27.53	28.83	48.25	41.86	51.35	41.82	39.95	43.84
Total Debt/Equity (%)	93.59	66.24	45.73	38.08	132.99	70.87	84.78	92.79	76.16	149.39	90.32	152.53	85.32	68.93	82.54
Total Debt/Capital (%)	99.94	100.36	100.08	102.57	100.6	97.07	100.06	100.09	99.91	100	99.94	100.1	98.65	95.86	98.7
Total Debt/Total Assets (%)	62.98	42.57	31.92	25.22	66.57	42.5	50.9	55.07	44.57	76.05	50.77	72.8	48.47	39.95	43.84
Net Debt to Equity	43.65	61.01	38.98	15.88	64.51	32.38	40.11	45.56	42.96	93.74	74.25	106.94	73.31	-0.46	-6.72
Net Debt/Capital (%)	48.23	100.4	100.1	46.75	49.54	46.29	48.65	49.59	61.44	63.19	82.35	70.48	85.07	-0.65	-8.73
EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	0.04	-0.15	-0.03	-0.63	-0.4	1.28	-0.03	-0.05	0.04	- -	0.03	-0.07	0.67	0.76	0.58
Long-Term Debt/Equity (%)	46.8	33.12	22.87	19.04	66.49	35.44	42.39	46.4	49.26	94.78	74.46	107.58	73.63	68.93	82.54
Long-Term Debt/Capital (%)	49.97	50.18	50.04	51.29	50.3	48.54	50.03	50.04	64.62	63.44	82.39	70.6	85.12	95.86	98.7
Long-Term Debt/Total Assets (%)	31.49	21.29	15.96	12.61	33.28	21.25	25.45	27.53	28.83	48.25	41.86	51.35	41.82	39.95	43.84
Total Debt/Equity (%)	93.59	66.24	45.73	38.08	132.99	70.87	84.78	92.79	76.16	149.39	90.32	152.53	85.32	68.93	82.54
Total Debt/Capital (%)	99.94	100.36	100.08	102.57	100.6	97.07	100.06	100.09	99.91	100	99.94	100.1	98.65	95.86	98.7
Total Debt/Total Assets (%)	62.98	42.57	31.92	25.22	66.57	42.5	50.9	55.07	44.57	76.05	50.77	72.8	48.47	39.95	43.84
CFO/Total Liabilities	-65.8	24.99	36.07	0.46	-38.99	44.68	-8.91	-10.96	5.24	-20.45	-5.67	-22.11	-3.49	0.95	-1.29
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	0.78	1.04	1.36	1.14	0.57	0.91	1.05	1.01	1.03	0.61	1.06	0.54	0.77	1.05	0.76

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	-5.95	-0.68	14.21	6.83	3.36	4.52	10.59	10.65	9.29	-0.67	32.09	7.87	10.18	32.31	- -
Days Sales Outstanding	-61.36	-536.51	25.68	53.4	108.49	80.71	34.47	34.27	39.28	-544.11	11.37	46.38	35.85	11.3	- -
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	144	184	183	184	171	189	242	257	285	230	376	292	360	524	489
- Cash & Cash Equivalents	7	10	14	6	4	6	5	2	16	2	1	2	1	2	32
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	8	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	200	125	94	76	255	143	186	220	190	349	288	481	349	325	398
Enterprise Value	338	299	264	254	422	325	423	476	460	577	662	771	707	854	854
Total Capital	200	124	94	74	253	147	186	220	190	349	288	481	353	339	403
Total Debt/Capital (%)	99.94	100.36	100.08	102.57	100.6	97.07	100.06	100.09	99.91	100	99.94	100.1	98.65	95.86	98.7
Total Debt / EV	0.59	0.42	0.36	0.3	0.6	0.44	0.44	0.46	0.41	0.61	0.43	0.62	0.49	0.38	0.47
EV/Sales	- -	- -	7.16	14.14	30.06	18.17	19.84	20.76	18.93	- -	7.7	38.42	15.72	8.67	14.82
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	11.41	8.2	536.75	- -	5.42	- -	- -	49.65	- -	- -	- -	- -	263.62	- -
EV/Free Cash Flow to Firm	- -	11.41	8.2	536.75	- -	5.42	- -	- -	49.65	- -	- -	- -	- -	263.62	- -
Diluted Market Cap	144	184	183	184	171	189	242	257	285	230	376	292	360	524	496
Diluted Enterprise Value	338	299	264	254	422	325	423	476	460	577	662	771	707	854	861
EV per Share	32.09	28.45	25.11	24.18	40.07	28.02	33.22	35.09	31.4	37.16	39.87	44.88	37.9	39.21	38.22
TTM Sales	-17	-2	37	18	14	18	21	23	24	-2	86	20	45	99	58
TTM EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	-68	26	32	- -	-74	60	-13	-18	9	-46	-14	-76	-11	3	-5
TTM Free Cash Flow to Firm	-68	26	32	- -	-74	60	-13	-18	9	-46	-14	-76	-11	3	-5

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	-2.11	7.02	5.7	389.37	-2.3	3.14	-18.59	-14.47	30.83	-4.99	-26.71	-3.82	-33.12	161.68	-90.29
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	338	299	264	254	422	325	423	476	460	577	662	771	707	854	854
Low Price	13.72	12.92	14.5	16.12	14.5	9.42	14.66	15.6	12.82	8.08	13.94	16.42	16.46	18.4	21.79
EV/Sales	- -	- -	7.16	14.14	30.06	18.17	19.84	20.76	18.93	- -	7.7	38.42	15.72	8.67	14.82
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	5.69	16.4	20.19	16.59	14.1	13.81	14.36	- -	4.45	14.65	8.43	5.54	8.55
Price/Earnings Average	-10.4	-21.32	5.66	17.95	21.17	15.54	13.75	13.47	13.39	-137.1	3.97	19.1	8.61	4.96	10.41
Price/Earnings High	-12.14	-24.48	6.17	19.39	23.37	18.55	15.02	14.42	14.39	-177.16	4.75	22.05	9.87	5.7	11.9
Price/Earnings Low	-6.84	-16.95	4.73	15.07	18	9.61	10.88	11.34	9.44	-66.95	2.75	14.16	7.2	4.24	8.52
Price/Book Value	1,118.83	-405.84	-2,320.65	-96.58	-112.68	43.87	-2,143.39	-1,355.2	1,719.14	-32,858.96	2,052.18	-627.19	75.18	84.65	93.26
Price/Book Value Average	1,701.03	-376.87	-2,307.28	-105.73	-118.18	41.07	-2,089.74	-1,322.1	1,602.49	-36,682.8	1,828.89	-817.83	76.74	75.76	113.57
Price/Book Value High	1,984.86	-432.75	-2,514.7	-114.2	-130.42	49.05	-2,283.28	-1,415.12	1,722.67	-47,403.82	2,187.48	-944.12	87.97	87.05	129.76
Price/Book Value Low	1,118.83	-299.63	-1,927.23	-88.76	-100.48	25.41	-1,653.8	-1,112.69	1,130.22	-17,915.01	1,265.82	-606.51	64.18	64.77	92.92
Price/Tangible Book Value	0.68	0.97	0.89	0.92	0.89	0.94	1.1	1.09	1.14	0.98	1.18	0.92	0.88	1.13	1.01
Price/Tangible Book Value Average	1.03	0.91	0.88	1.01	0.94	0.88	1.08	1.06	1.07	1.1	1.05	1.21	0.9	1.01	1.24
Price/Tangible Book Value High	1.2	1.04	0.96	1.09	1.04	1.05	1.17	1.13	1.15	1.42	1.26	1.39	1.03	1.16	1.41
Price/Tangible Book Value Low	0.68	0.72	0.74	0.85	0.8	0.54	0.85	0.89	0.75	0.54	0.73	0.89	0.75	0.87	1.01
Price/Sales	-8.34	-93.8	4.98	10.26	12.2	10.54	11.35	11.24	11.75	-121.89	4.36	14.54	8	5.32	8.48
Price/Sales Average	-12.68	-87.1	4.95	11.23	12.79	9.87	11.06	10.97	10.96	-136.08	3.89	18.96	8.16	4.76	10.33
Price/Sales High	-14.8	-100.02	5.39	12.13	14.12	11.79	12.09	11.74	11.78	-175.85	4.65	21.88	9.36	5.47	11.8
Price/Sales Low	-8.34	-69.25	4.13	9.43	10.88	6.11	8.75	9.23	7.73	-66.46	2.69	14.06	6.83	4.07	8.45
Price/Cash Flow	-2.11	7.02	5.7	389.37	-2.3	3.14	-18.59	-14.47	30.83	-4.99	-26.71	-3.82	-33.12	161.68	-89.08
Price/Cash Flow Average	-3.21	6.52	5.67	426.29	-2.41	2.94	-18.13	-14.12	28.74	-5.57	-23.8	-4.98	-33.81	144.7	-108.48
Price/Cash Flow High	-3.75	7.48	6.18	460.41	-2.66	3.51	-19.81	-15.11	30.9	-7.2	-28.47	-5.75	-38.76	166.25	-123.95
Price/Cash Flow Low	-2.11	5.18	4.74	357.85	-2.05	1.82	-14.35	-11.88	20.27	-2.72	-16.47	-3.69	-28.28	123.69	-88.75
Price/Free Cash Flow Average	-3.21	6.52	5.67	426.29	-2.41	2.94	-18.13	-14.12	28.74	-5.57	-23.8	-4.98	-33.81	144.7	-109.96
Price/Free Cash Flow High	-3.75	7.48	6.18	460.41	-2.66	3.51	-19.81	-15.11	30.9	-7.2	-28.47	-5.75	-38.76	166.25	-125.64
Price/Free Cash Flow Low	-2.11	5.18	4.74	357.85	-2.05	1.82	-14.35	-11.88	20.27	-2.72	-16.47	-3.69	-28.28	123.69	-89.96
EV/Sales Average	- -	- -	7.13	15.11	30.65	17.49	19.55	20.49	18.13	- -	7.23	42.84	15.89	8.11	16.67
EV/Sales High	- -	- -	7.57	16.01	31.98	19.41	20.58	21.26	18.95	- -	7.99	45.77	17.08	8.82	18.14
EV/Sales Low	- -	- -	6.31	13.31	28.74	13.73	17.24	18.75	14.9	- -	6.03	37.95	14.55	7.42	14.79
EV/EBITDA Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	13.72	17.5	17.46	17.54	16.26	16.26	19	19	19.5	14.82	22.6	16.98	19.28	24.05	21.87
High Price	24.34	18.66	18.92	20.74	18.82	18.18	20.24	19.84	19.54	21.38	24.09	25.56	22.56	24.73	30.43
Enterprise Value Average	413	286	263	271	430	313	417	469	440	604	622	859	715	799	961
Enterprise Value High	449	311	279	287	449	347	439	487	460	679	687	918	768	869	1,046
Enterprise Value Low	338	251	233	239	404	246	368	429	362	472	519	761	655	731	853

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	11	11	11	11	11	12	13	14	15	16	17	17	22	22	23
Diluted Weighted Avg Shares	11	11	11	11	11	12	13	14	15	16	17	17	19	22	23
Basic Weighted Avg Shares	11	11	11	11	11	12	13	14	15	16	17	17	19	22	22
Revenue per Share	-1.65	-0.19	3.51	1.71	1.33	1.54	1.67	1.69	1.66	-0.12	5.18	1.17	2.41	4.52	2.58
EBITDA per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	-2.01	-0.76	3.07	1.07	0.81	0.98	1.35	1.38	1.36	-0.12	5.07	1.16	2.29	4.34	2.56
Basic EPS from Cont Ops	-2.01	-0.76	3.07	1.07	0.81	0.98	1.35	1.38	1.36	-0.12	5.07	1.16	2.29	4.35	2.6
Diluted EPS, GAAP	-2.01	-0.76	3.07	1.07	0.81	0.98	1.35	1.38	1.36	-0.12	5.07	1.16	2.29	4.34	2.52
Diluted EPS from Cont Ops	-2.01	-0.76	3.07	1.07	0.81	0.98	1.35	1.38	1.36	-0.12	5.07	1.16	2.29	4.35	2.56
Dividend per Share	1.68	1.68	1.68	1.68	1.68	1.68	1.68	1.68	1.68	1.62	1.56	1.59	1.9	1.98	2.48
Cash Flow per Share	-6.5	2.49	3.06	0.05	-7.07	5.17	-1.02	-1.31	0.63	-2.97	-0.85	-4.45	-0.58	0.15	-0.25
Free Cash Flow per Basic Share	-6.5	2.49	3.06	0.05	-7.07	5.17	-1.02	-1.31	0.63	-2.97	-0.85	-4.45	-0.58	0.15	-0.25
Cash & Equivalents per Share	0.64	0.94	1.32	0.6	0.36	0.53	0.39	0.15	1.07	0.16	0.04	0.12	0.07	0.1	1.45
Book Value per Share	0.01	-0.04	-0.01	-0.18	-0.14	0.37	-0.01	-0.01	0.01	- -	0.01	-0.03	0.26	0.28	0.23
Tangible Book Value per Share	20.32	17.95	19.62	19.02	18.17	17.34	17.23	17.49	17.04	15.06	19.16	18.37	21.9	21.26	21.56

Gladstone Capital Corporation

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

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Per Share Data Items (USD)