Gladstone Commercial (GOOD) financial statements
Gladstone Commercial reported revenue of $161M in fiscal 2025, up 7.2% a year over 9 years.
Net income was $19M.
The diluted share count rose 101% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Gladstone Commercial's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $86M | $95M | $107M | $114M | $133M | $138M | $149M | $148M | $149M | $161M |
| Selling, general and admin | $2M | $2M | $2M | $3M | $3M | $3M | $4M | $4M | $4M | $4M |
| Interest expense | $26M | $25M | $26M | $28M | $27M | $27M | $32M | $37M | $37M | $42M |
| Net income | $4M | $6M | $12M | $10M | $15M | $11M | $11M | $5M | $24M | $19M |
| EPS (diluted) | -$0.16 | -$0.19 | $0.03 | -$0.16 | $0.09 | -$0.09 | -$0.04 | -$0.19 | $0.27 | $0.14 |
| Diluted shares | 23M | 26M | 29M | 31M | 34M | 37M | 39M | 40M | 42M | 47M |
| Net margin | 4.6% | 6.3% | 11.5% | 8.4% | 11.2% | 7.9% | 7.3% | 3.4% | 16.1% | 12.0% |
Balance sheet
Fiscal years, from Gladstone Commercial's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $5M | $7M | $7M | $7M | $11M | $8M | $12M | $12M | $11M | $11M |
| Total assets | $852M | $928M | $939M | $1.0B | $1.1B | $1.1B | $1.2B | $1.1B | $1.1B | $1.2B |
| Total liabilities | $541M | $578M | $599M | $676M | $723M | $771M | $827M | $809M | $753M | $905M |
| Shareholders' equity | $240M | $267M | $250M | $208M | $213M | $201M | $204M | $153M | $171M | $172M |
| Net debt | -$5M | -$7M | -$7M | -$7M | -$11M | -$8M | -$12M | -$12M | -$11M | -$11M |
Cash flow
Fiscal years, from Gladstone Commercial's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $41M | $47M | $56M | $60M | $65M | $70M | $69M | $60M | $57M | $88M |
| Dividends paid | $42M | $50M | $55M | $59M | $64M | $68M | $71M | $61M | $63M | $68M |
| Share buybacks (net) | -$178,000 | -$24,000 | -$34,000 | $0 | $0 | — | $0 | -$998,000 | $0 | $0 |
| Net borrowing | $0 | $50M | $0 | $47M | $38M | $65M | $150M | $0 | — | — |
| Dividends per share | $1.83 | $1.91 | $1.90 | $1.92 | $1.87 | $1.85 | $1.83 | $1.52 | $1.50 | $1.46 |
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What was Gladstone Commercial's revenue in 2025?
$161M in fiscal 2025, from its 10-K filing.
From Gladstone Commercial's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.