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GLADSTONE COMMERCIAL CORP (GOOD) Stock Fundamental Analysis

NASDAQ:GOOD - Nasdaq - US3765361080 - REIT - Currency: USD

14.435  -0.07 (-0.52%)

Fundamental Rating

3

Overall GOOD gets a fundamental rating of 3 out of 10. We evaluated GOOD against 129 industry peers in the Diversified REITs industry. GOOD has a medium profitability rating, but doesn't score so well on its financial health evaluation. GOOD is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

GOOD had positive earnings in the past year.
In the past year GOOD had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: GOOD reported negative net income in multiple years.
Each year in the past 5 years GOOD had a positive operating cash flow.
GOOD Yearly Net Income VS EBIT VS OCF VS FCFGOOD Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M -50M

1.2 Ratios

GOOD has a Return On Assets of 1.10%. This is comparable to the rest of the industry: GOOD outperforms 58.14% of its industry peers.
Looking at the Return On Equity, with a value of 3.61%, GOOD is in the better half of the industry, outperforming 64.34% of the companies in the same industry.
With a decent Return On Invested Capital value of 3.82%, GOOD is doing good in the industry, outperforming 74.42% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for GOOD is in line with the industry average of 3.15%.
The 3 year average ROIC (3.53%) for GOOD is below the current ROIC(3.82%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 1.1%
ROE 3.61%
ROIC 3.82%
ROA(3y)0.03%
ROA(5y)-0.01%
ROE(3y)0.02%
ROE(5y)-0.07%
ROIC(3y)3.53%
ROIC(5y)3.14%
GOOD Yearly ROA, ROE, ROICGOOD Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2 -2 4

1.3 Margins

Looking at the Profit Margin, with a value of 8.43%, GOOD is in line with its industry, outperforming 59.69% of the companies in the same industry.
GOOD has a Operating Margin of 35.82%. This is in the better half of the industry: GOOD outperforms 77.52% of its industry peers.
GOOD's Operating Margin has improved in the last couple of years.
The Gross Margin of GOOD (78.72%) is better than 78.29% of its industry peers.
GOOD's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 35.82%
PM (TTM) 8.43%
GM 78.72%
OM growth 3Y12.15%
OM growth 5Y2.58%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y1.16%
GM growth 5Y-1.4%
GOOD Yearly Profit, Operating, Gross MarginsGOOD Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60 80

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1

2. Health

2.1 Basic Checks

GOOD has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
Compared to 1 year ago, GOOD has more shares outstanding
The number of shares outstanding for GOOD has been increased compared to 5 years ago.
Compared to 1 year ago, GOOD has an improved debt to assets ratio.
GOOD Yearly Shares OutstandingGOOD Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M
GOOD Yearly Total Debt VS Total AssetsGOOD Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

2.2 Solvency

GOOD has an Altman-Z score of 0.04. This is a bad value and indicates that GOOD is not financially healthy and even has some risk of bankruptcy.
GOOD has a Altman-Z score of 0.04. This is in the lower half of the industry: GOOD underperforms 75.19% of its industry peers.
GOOD has a Debt/Equity ratio of 2.06. This is a high value indicating a heavy dependency on external financing.
GOOD's Debt to Equity ratio of 2.06 is on the low side compared to the rest of the industry. GOOD is outperformed by 72.87% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.06
Debt/FCF N/A
Altman-Z 0.04
ROIC/WACC0.46
WACC8.22%
GOOD Yearly LT Debt VS Equity VS FCFGOOD Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M

2.3 Liquidity

A Current Ratio of 0.82 indicates that GOOD may have some problems paying its short term obligations.
With a Current ratio value of 0.82, GOOD perfoms like the industry average, outperforming 44.96% of the companies in the same industry.
A Quick Ratio of 0.71 indicates that GOOD may have some problems paying its short term obligations.
The Quick ratio of GOOD (0.71) is worse than 62.79% of its industry peers.
Industry RankSector Rank
Current Ratio 0.82
Quick Ratio 0.71
GOOD Yearly Current Assets VS Current LiabilitesGOOD Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M

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3

3. Growth

3.1 Past

GOOD shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 252.63%, which is quite impressive.
GOOD shows a small growth in Revenue. In the last year, the Revenue has grown by 3.01%.
The Revenue has been growing slightly by 5.48% on average over the past years.
EPS 1Y (TTM)252.63%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%300%
Revenue 1Y (TTM)3.01%
Revenue growth 3Y2.75%
Revenue growth 5Y5.48%
Sales Q2Q%4.98%

3.2 Future

GOOD is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 7.88% yearly.
Based on estimates for the next years, GOOD will show a small growth in Revenue. The Revenue will grow by 2.82% on average per year.
EPS Next Y-29.38%
EPS Next 2Y1%
EPS Next 3Y7.88%
EPS Next 5YN/A
Revenue Next Year2.22%
Revenue Next 2Y2.53%
Revenue Next 3Y1.54%
Revenue Next 5Y2.82%

3.3 Evolution

The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
GOOD Yearly Revenue VS EstimatesGOOD Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 50M 100M 150M
GOOD Yearly EPS VS EstimatesGOOD Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 0.1 -0.1 0.2 -0.2 0.3

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1

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 49.78 indicates a quite expensive valuation of GOOD.
The rest of the industry has a similar Price/Earnings ratio as GOOD.
GOOD's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 26.57.
The Price/Forward Earnings ratio is 54.43, which means the current valuation is very expensive for GOOD.
GOOD's Price/Forward Earnings ratio is in line with the industry average.
GOOD's Price/Forward Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 22.41.
Industry RankSector Rank
PE 49.78
Fwd PE 54.43
GOOD Price Earnings VS Forward Price EarningsGOOD Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

The rest of the industry has a similar Enterprise Value to EBITDA ratio as GOOD.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 13.19
GOOD Per share dataGOOD EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6

4.3 Compensation for Growth

GOOD has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y1%
EPS Next 3Y7.88%

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5

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 8.19%, GOOD is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 6.77, GOOD pays a better dividend. On top of this GOOD pays more dividend than 80.62% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.40, GOOD pays a better dividend.
Industry RankSector Rank
Dividend Yield 8.19%

5.2 History

The dividend of GOOD decreases each year by -4.40%.
GOOD has been paying a dividend for at least 10 years, so it has a reliable track record.
GOOD has decreased its dividend recently.
Dividend Growth(5Y)-4.4%
Div Incr Years0
Div Non Decr Years1
GOOD Yearly Dividends per shareGOOD Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5

5.3 Sustainability

503.13% of the earnings are spent on dividend by GOOD. This is not a sustainable payout ratio.
DP503.13%
EPS Next 2Y1%
EPS Next 3Y7.88%
GOOD Yearly Income VS Free CF VS DividendGOOD Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M -50M
GOOD Dividend Payout.GOOD Dividend Payout, showing the Payout Ratio.GOOD Dividend Payout.PayoutRetained Earnings

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GLADSTONE COMMERCIAL CORP

NASDAQ:GOOD (6/17/2025, 9:42:31 AM)

14.435

-0.07 (-0.52%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)05-07 2025-05-07/amc
Earnings (Next)08-04 2025-08-04/amc
Inst Owners48.2%
Inst Owner Change5.4%
Ins Owners1.21%
Ins Owner Change0.09%
Market Cap712.22M
Analysts78.18
Price Target16.12 (11.67%)
Short Float %1.59%
Short Ratio2.02
Dividend
Industry RankSector Rank
Dividend Yield 8.19%
Yearly Dividend1.48
Dividend Growth(5Y)-4.4%
DP503.13%
Div Incr Years0
Div Non Decr Years1
Ex-Date06-20 2025-06-20 (0.1)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)17.26%
Min EPS beat(2)13.85%
Max EPS beat(2)20.66%
EPS beat(4)3
Avg EPS beat(4)-84.25%
Min EPS beat(4)-884.31%
Max EPS beat(4)512.8%
EPS beat(8)5
Avg EPS beat(8)-89.44%
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-2.59%
Min Revenue beat(2)-3.67%
Max Revenue beat(2)-1.52%
Revenue beat(4)2
Avg Revenue beat(4)0.1%
Min Revenue beat(4)-3.67%
Max Revenue beat(4)4.13%
Revenue beat(8)3
Avg Revenue beat(8)-1.6%
Revenue beat(12)4
Avg Revenue beat(12)-1.58%
Revenue beat(16)4
Avg Revenue beat(16)-2.07%
PT rev (1m)-6.51%
PT rev (3m)-7.6%
EPS NQ rev (1m)78.55%
EPS NQ rev (3m)108.33%
EPS NY rev (1m)0%
EPS NY rev (3m)-32.71%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)1.35%
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.24%
Valuation
Industry RankSector Rank
PE 49.78
Fwd PE 54.43
P/S 4.71
P/FCF N/A
P/OCF 11.95
P/B 2.02
P/tB 2.87
EV/EBITDA 13.19
EPS(TTM)0.29
EY2.01%
EPS(NY)0.27
Fwd EY1.84%
FCF(TTM)-1.11
FCFYN/A
OCF(TTM)1.21
OCFY8.37%
SpS3.06
BVpS7.16
TBVpS5.04
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 1.1%
ROE 3.61%
ROCE 4.84%
ROIC 3.82%
ROICexc 3.86%
ROICexgc 4.31%
OM 35.82%
PM (TTM) 8.43%
GM 78.72%
FCFM N/A
ROA(3y)0.03%
ROA(5y)-0.01%
ROE(3y)0.02%
ROE(5y)-0.07%
ROIC(3y)3.53%
ROIC(5y)3.14%
ROICexc(3y)3.56%
ROICexc(5y)3.17%
ROICexgc(3y)4%
ROICexgc(5y)3.56%
ROCE(3y)4.46%
ROCE(5y)3.98%
ROICexcg growth 3Y17.8%
ROICexcg growth 5Y7.28%
ROICexc growth 3Y17.97%
ROICexc growth 5Y7.68%
OM growth 3Y12.15%
OM growth 5Y2.58%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y1.16%
GM growth 5Y-1.4%
F-Score6
Asset Turnover0.13
Health
Industry RankSector Rank
Debt/Equity 2.06
Debt/FCF N/A
Debt/EBITDA 6.61
Cap/Depr 205.16%
Cap/Sales 75.6%
Interest Coverage 250
Cash Conversion 54.27%
Profit Quality N/A
Current Ratio 0.82
Quick Ratio 0.71
Altman-Z 0.04
F-Score6
WACC8.22%
ROIC/WACC0.46
Cap/Depr(3y)109.89%
Cap/Depr(5y)149.38%
Cap/Sales(3y)44.05%
Cap/Sales(5y)61.91%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)252.63%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%300%
EPS Next Y-29.38%
EPS Next 2Y1%
EPS Next 3Y7.88%
EPS Next 5YN/A
Revenue 1Y (TTM)3.01%
Revenue growth 3Y2.75%
Revenue growth 5Y5.48%
Sales Q2Q%4.98%
Revenue Next Year2.22%
Revenue Next 2Y2.53%
Revenue Next 3Y1.54%
Revenue Next 5Y2.82%
EBIT growth 1Y4.57%
EBIT growth 3Y15.23%
EBIT growth 5Y8.21%
EBIT Next Year142.6%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-35.21%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-10.9%
OCF growth 3Y-6.7%
OCF growth 5Y-1.1%