Gladstone Capital Corporation (GLAD) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Gladstone Capital Corporation stock $21.87, price $19.38, upside +12.9%, quality 52 out of 100. Rating: undervalued. Calculated from audited financials with 12 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range $11.26 – $25.67 · fair‑value band $14.87 – $33.63 · the $19.38 price screens below the $21.87 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Gladstone Capital Corporation is a business development company specializing in lower middle market, growth capital, add on acquisitions, change of control, buy & build strategies, debt refinancing, debt investments in senior term loans, revolving loans, secured first and second lien term loans, senior subordinated loans, unitranche loans, junior subordinated loans, and mezzanine loans and equity investments in the form of common stock, preferred stock, limited liability company interests, or warrants.
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It operates as a business development company. The fund also makes private equity investments in acquisitions, buyouts and recapitalizations, and refinancing existing debts. It targets small and medium-sized companies in United States.
It is industry agnostic and seeks to invest in companies engaged in the business services, light and specialty manufacturing, niche industrial products and services, specialty consumer products and services, energy services, transportation and logistics, healthcare and education services, specialty chemicals, media and communications and aerospace and defense.
The fund seeks to invest in debt between $8 million and $40 million in companies that have between $20 million and $150 million in sales and EBITDA between $3 million and $25 million. It prefers to acquire minority stakes.
It seeks to exit its investments through strategic acquisitions by other industry participants or financial buyers, initial public offerings of common stock, or other capital market transactions.
Stock analysis
Gladstone Capital Corporation (GLAD) currently trades at $19.38, while our model-based Fair Value estimate is $21.87, implying the stock looks roughly 11% undervalued today.
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Valuation
Bull case: the Earnings-Based group reads highest at a median of $38.51 per share, and 9 of the 12 models we run sit above the $19.38 price.
Bear case: the Asset-Based group reads lowest at $14.29, and 3 of the 12 models stay below the price. Data coverage for this calculation is high.
Scenario range: $14.87 (bear) to $33.63 (bull), the price of $19.38 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 52/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Gladstone Capital Corporation reported revenue of $145M in FY2025 versus $94.7M in FY2021, a compound +11.2%/yr. Reported net income was $58.1M in FY2025, compounding −8.9%/yr from FY2021.
Key figures
Market cap $550M Small · P/E ratio 9.1 · P/S ratio 5.56 · EPS (TTM) $2.13 · Dividend yield 9.5% · Net margin 48.7% · Return on equity 9.5% · Return on assets (EBIT) 9.3% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 70 out of 100 (low confidence).
What moves the price
The share trades about 2% below its 52-week high and 25% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −16% fair-value upside, at 13%, GLAD screens cheaper than that median.
Fair Value models
Bear$14.87Fair Value $21.87Bull$33.63
Price $19.38 · Upside +12.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then ($0.2850 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Growth DCF$12.85$21.98$33.5377
Residual Income$18.77$20.95$25.1376
5Y P/E Exit$12.60$25.73$39.5669
All 12 models by family
DCF Models
5Y P/E Exit$12.60$25.73$39.5669
10Y P/E Exit$12.40$23.14$36.3862
Earnings-Based
Graham-Dodd$17.49$58.19$77.8964
Lynch FV$13.18$18.83$24.4861
Dividend Discount
Gordon GGM$18.99$34.11$46.8368
DDM Multi-Stage$18.99$30.38$36.4567
Multiples
P/E Multiple$25.08$33.44$41.8063
P/B Multiple$22.40$29.87$37.3455
Asset-Based
NCAV (Graham)$10.67$14.29$21.3454
Growth DCF
Growth DCF$12.85$21.98$33.5377
Rev-Margin DCF$4.33$10.37$17.5569
Economic Profit
Residual Income$18.77$20.95$25.1376
The fair value above starts from this blend and is adjusted for dilution from new shares.
In the last 6 months, no officer or director bought or sold shares on the open market.
BuyNicole Frances Dubas SchaltenbrandCFO and Treasurer496 shares at $20.16$9,999Nov 20, 2025
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.87/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+20.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+64.7%
Revenue growth 24 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+27.9%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+5.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−4.4%
Dividend (yield on the price)9.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−4.4% vs 10.1%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−22% → 56%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+11.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
−10.6%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +9.0% a year for the price and −12.7% for the forecasts.
Compare Gladstone Capital Corporation with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Asset Management · 587 stocks
Beats the industry median on 8/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside+12.9% · Below median
Profitability
Return on equity (12 months)9.5% · Above median
Return on assets6.4% · Above median
Net margin (12 months)48.7% · Above median
Operating margin (12 months)74.3% · Above median
Growth and dividend
Revenue growth (quarter YoY)13.1% · Above median
Dividend yield (12 months)9.5% · Top 25%
Balance sheet
Debt / equity0.53× · Highest 25%
Valuation Multiplesvs Asset Management median · lower = cheaper
P/E (12 months)9.1× · Cheaper than median
P/B1.14× · Pricier than median
P/S (12 months)5.56× · Pricier than median
Price / free cash flow (fiscal year)12.6× · Pricier than median
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Gladstone Capital Corporation Fair Value". https://www.fairvalue-calculator.com/stock/GLAD
Frequently asked questions
Is Gladstone Capital Corporation (GLAD) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of $21.87 versus a price of $19.38, about +13% upside (undervalued).
What is the fair value of GLAD?
Our model-based fair value for Gladstone Capital Corporation is $21.87 (as of Nov 7, 2026), built from audited fundamentals. The current price: $19.38.
What is the quality score of GLAD?
Gladstone Capital Corporation has a Quality Score of 52/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Gladstone Capital Corporation (GLAD)?
Our model-based price target is the fair value of $21.87 (as of Nov 7, 2026) from 12 valuation models. Cautious scenario $14.87, optimistic scenario $33.63. It is a calculation from audited fundamentals, not an analyst target.
What is the Gladstone Capital Corporation stock forecast for 2026?
Our models put fair value at $21.87, about +13% upside versus a price of $19.38 (undervalued). Cautious scenario $14.87, optimistic scenario $33.63. The calculation is refreshed regularly with new filings.
What is the revenue of Gladstone Capital Corporation (GLAD)?
Gladstone Capital Corporation reported trailing-twelve-month revenue of about $98.9M (latest available figure, as of Nov 7, 2026).
Does Gladstone Capital Corporation pay a dividend?
Gladstone Capital Corporation currently shows a dividend yield of 9.52% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Gladstone Capital Corporation (GLAD) and when is the ex-dividend date?
Gladstone Capital Corporation pays a dividend of $1.85 per share a year, a dividend yield of 9.5%. The next ex-dividend date is Nov 19, 2026, with payment on Dec 31, 2026. A dividend has been paid every year since at least 2001. The payout ratio is 86.6% of earnings. Free cash flow covers the dividend 1.05 times. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What growth is priced into Gladstone Capital Corporation (GLAD)?
For today's price to be fair in a discounted-cash-flow model, Gladstone Capital Corporation would have to grow free cash flow by +11.6 % per year for five years (discount rate 11.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +76.7 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of GLAD use?
Our models discount Gladstone Capital Corporation at 11.1 %: a base by market capitalisation (small), damped by beta 0.94, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Gladstone Capital Corporation that is +11.6 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.1 %) and the same formula as our fair value.
How much growth has Gladstone Capital Corporation (GLAD) delivered so far?
Over the past 5 years revenue at Gladstone Capital Corporation grew +76.7 % a year. The price currently implies free-cash-flow growth of +11.6 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Gladstone Capital Corporation (GLAD) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into Gladstone Capital Corporation (+11.6 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Gladstone Capital Corporation (GLAD)?
The free-cash-flow yield on the price is 7.94 %: that much free cash flow Gladstone Capital Corporation produces per unit of market value. When it exceeds the discount rate of our models (11.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Gladstone Capital Corporation (GLAD)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Gladstone Capital Corporation it is $21.87 per share (as of Nov 7, 2026), against a price of $19.38. It is the blended result of 12 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is Gladstone Capital Corporation stock overvalued or undervalued in 2026?
As of Nov 7, 2026, GLAD trades below its calculated fair value: price $19.38, fair value $21.87, a gap of about +13% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of GLAD?
No. The price is what the market pays today ($19.38); the fair value is what the company's own numbers justify ($21.87). For Gladstone Capital Corporation the two are $2.49 per share apart. That gap is exactly why we show both numbers side by side.
How much is Gladstone Capital Corporation worth?
The market values Gladstone Capital Corporation at about $550M (market capitalisation, as of Nov 7, 2026). Per share that is $19.38; our models calculate a fair value of $21.87 per share.
What do the bullish and bearish scenarios say about GLAD?
Our models span a range for Gladstone Capital Corporation: cautious scenario $14.87, base $21.87, optimistic $33.63 per share (as of Nov 7, 2026, price $19.38). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of GLAD?
Gladstone Capital Corporation trades at a price-to-earnings ratio of 9.1 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $21.87 is built from several models across several years. Other multiples: PEG 2.3, P/B 1.1, P/S 5.6, EV/EBITDA 6.3.
What is the PEG ratio of GLAD?
The PEG ratio of Gladstone Capital Corporation is 2.31 (P/E divided by earnings growth, as of Nov 7, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Gladstone Capital Corporation (GLAD)?
Balance-sheet figures for Gladstone Capital Corporation (as of Nov 7, 2026): return on equity 9.5%, debt of 0.53 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is GLAD from its 52-week high?
Gladstone Capital Corporation trades at $19.38, about 2% below its 52-week high of $19.68 and 25% above the low of $15.51 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $21.87 is for.
Which stocks are comparable to Gladstone Capital Corporation?
From the same area (Financial Services) we also value Blackstone Inc, Brookfield Asset Management Ltd, KKR & Co, Apollo Global Management, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Gladstone Capital Corporation stock attractive at the current price?
The data as of Nov 7, 2026: price $19.38, calculated fair value $21.87 (+13%), Quality Score 52/100, from 12 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of GLAD calculated?
We run Gladstone Capital Corporation through 12 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of $21.87 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Gladstone Capital Corporation currently trades 11% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Gladstone Capital Corporation (GLAD)?
The closing price on Nov 6, 2026 was $19.38. Our model-based fair value is $21.87, about +13% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Gladstone Capital Corporation right now?
A fairly wide model range ($14.87 to $33.63) leaves room in how you read the outcome. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Gladstone Capital Corporation (GLAD) come from?
Earnings per share at Gladstone Capital Corporation grew +3.6 % a year from 2013 to 2023. Broken into its drivers: revenue per share +1.2 %, EBIT margin +1.9 %, tax rate +2.4 %, residual (interest, one-offs) −1.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Gladstone Capital Corporation
How large is the market capitalisation of Gladstone Capital Corporation (GLAD)?
The market capitalisation of Gladstone Capital Corporation is $550M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Gladstone Capital Corporation (GLAD)?
The price-to-sales ratio of Gladstone Capital Corporation is 5.56 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Gladstone Capital Corporation (GLAD)?
Earnings per share at Gladstone Capital Corporation are $2.13 (price ÷ EPS = P/E 9.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Gladstone Capital Corporation (GLAD)?
The dividend yield of Gladstone Capital Corporation is 9.5% (payout 86.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Gladstone Capital Corporation (GLAD)?
The net margin of Gladstone Capital Corporation is 48.7% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Gladstone Capital Corporation (GLAD)?
The return on equity (ROE) of Gladstone Capital Corporation is 9.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Gladstone Capital Corporation (GLAD)?
On an EBIT basis the return on assets of Gladstone Capital Corporation is 9.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Gladstone Capital Corporation (GLAD)?
The operating margin of Gladstone Capital Corporation is 74.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Gladstone Capital Corporation (GLAD)?
Revenue at Gladstone Capital Corporation is growing +13.1% versus a year earlier (3y avg +64.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Gladstone Capital Corporation (GLAD)?
Earnings per share at Gladstone Capital Corporation are growing +68.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Gladstone Capital Corporation (GLAD) carry?
The net debt of Gladstone Capital Corporation is $365M (fiscal year 2025, ≈ 8.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 7, 2026