GLADSTONE COMMERCIAL CORP · Lessors of Real Property, NEC

GOOD

Moderate riskNext report: In 5 days (est.)

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The short version

A profitable company with growing sales. Institutions are adding.

Going well

Sales up 11% in the latest quarter vs a year ago
Pays a 9.9% dividend yield
Profitable every year for 10 years

Watch out for

Share count growing 6.1% a year
High debt: 4.91x equity

Money moves

No insider buying or selling in the last 30 days
Institutions added 7.1% to their holdings in the quarter ending June 2026 (101 bought, 62 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$12.10+0.7% that day

Company value: $1.2B; Share price times all shares
Price vs profit (P/E): 46.5x; You pay about $47 for each $1 of yearly profit
Price vs sales: 6.8x; Company value is 6.8 times a year of sales
Dividend yield: 9.9%; Yearly dividend as a share of today's price
Cash vs value: 1%; Cash as a share of company value
Debt vs value: 73%; Debt as a share of company value

From GOOD's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$44.0M+11% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $170.2M, up 11% from the 12 months before. Over 5 years, sales grew about 3.9% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of GOOD. Starting points are the company's recent numbers.

Sales growth+11% a yearRecently: +11% a yearProfit margin15%Last 12 months: 14.5%P/E at the end40xToday: 46.5x. Many steady companies trade at 12x to 25xShare count change+7% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$287M

Profit in 5 years$43M

Price these guesses point to$12.89+6.5% vs $12.10 todayAbout +1.3% a year, before dividends

What today's price needs: with a 15% margin and a 40x P/E, sales would have to grow about 9.6% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

3/6Mixed

MissReturn on equity 15%+Earns a lot on the money owners have in the business.11.2%
MissDebt under half of equityNot relying on borrowed money.4.91x equity
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.12.0%
PassProfitable every yearSteady profits, not one good year.10 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$88.2M
MissShare count not growingNot diluting owners. Falling means buybacks.+19.5% in 3 years

Revenue: $161.3M; +8.0% vs prior year
5-year growth: +3.9%/yr; revenue, per year
Total debt: $843.5M; 4.91x equity
Free cash flow: $88.2M; 54.6% of revenue

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: gross margin 40%+. A checklist is a starting point for research, not a verdict.