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GLADSTONE COMMERCIAL COR - GOOD 6 5/8 PERP (GOODN) Stock Fundamental Analysis

NASDAQ:GOODN - Nasdaq - US3765367020 - Currency: USD

22.6  -0.09 (-0.4%)

Fundamental Rating

3

Taking everything into account, GOODN scores 3 out of 10 in our fundamental rating. GOODN was compared to 129 industry peers in the Diversified REITs industry. GOODN has a medium profitability rating, but doesn't score so well on its financial health evaluation. GOODN is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

In the past year GOODN was profitable.
GOODN had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: GOODN reported negative net income in multiple years.
GOODN had a positive operating cash flow in each of the past 5 years.
GOODN Yearly Net Income VS EBIT VS OCF VS FCFGOODN 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

GOODN's Return On Assets of 1.10% is in line compared to the rest of the industry. GOODN outperforms 56.59% of its industry peers.
The Return On Equity of GOODN (3.61%) is better than 62.79% of its industry peers.
GOODN has a Return On Invested Capital of 3.82%. This is in the better half of the industry: GOODN outperforms 72.87% of its industry peers.
GOODN had an Average Return On Invested Capital over the past 3 years of 3.53%. This is in line with the industry average of 3.16%.
The 3 year average ROIC (3.53%) for GOODN 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%
GOODN Yearly ROA, ROE, ROICGOODN Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2 -2 4

1.3 Margins

GOODN has a Profit Margin (8.43%) which is in line with its industry peers.
GOODN has a Operating Margin of 35.82%. This is in the better half of the industry: GOODN outperforms 75.97% of its industry peers.
GOODN's Operating Margin has improved in the last couple of years.
GOODN's Gross Margin of 78.72% is fine compared to the rest of the industry. GOODN outperforms 76.74% of its industry peers.
In the last couple of years the Gross Margin of GOODN has remained more or less at the same level.
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%
GOODN Yearly Profit, Operating, Gross MarginsGOODN Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60 80

1

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so GOODN is destroying value.
The number of shares outstanding for GOODN has been increased compared to 1 year ago.
Compared to 5 years ago, GOODN has more shares outstanding
GOODN has a better debt/assets ratio than last year.
GOODN Yearly Shares OutstandingGOODN Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M
GOODN Yearly Total Debt VS Total AssetsGOODN 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

Based on the Altman-Z score of 0.34, we must say that GOODN is in the distress zone and has some risk of bankruptcy.
GOODN's Altman-Z score of 0.34 is on the low side compared to the rest of the industry. GOODN is outperformed by 62.79% of its industry peers.
GOODN has a Debt/Equity ratio of 2.06. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 2.06, GOODN is not doing good in the industry: 74.42% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 2.06
Debt/FCF N/A
Altman-Z 0.34
ROIC/WACC0.53
WACC7.16%
GOODN Yearly LT Debt VS Equity VS FCFGOODN 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

GOODN has a Current Ratio of 0.82. This is a bad value and indicates that GOODN is not financially healthy enough and could expect problems in meeting its short term obligations.
GOODN has a Current ratio (0.82) which is in line with its industry peers.
GOODN has a Quick Ratio of 0.82. This is a bad value and indicates that GOODN is not financially healthy enough and could expect problems in meeting its short term obligations.
GOODN has a Quick ratio of 0.71. This is in the lower half of the industry: GOODN underperforms 64.34% of its industry peers.
Industry RankSector Rank
Current Ratio 0.82
Quick Ratio 0.71
GOODN Yearly Current Assets VS Current LiabilitesGOODN 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

3

3. Growth

3.1 Past

GOODN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 252.63%, which is quite impressive.
The Revenue has been growing slightly by 3.01% in the past year.
Measured over the past years, GOODN shows a small growth in Revenue. The Revenue has been growing by 5.48% on average per year.
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

The Earnings Per Share is expected to grow by 7.88% on average over the next years.
GOODN is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.82% yearly.
EPS Next Y-5.85%
EPS Next 2Y9.09%
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

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
GOODN Yearly Revenue VS EstimatesGOODN 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
GOODN Yearly EPS VS EstimatesGOODN 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

1

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 77.93, the valuation of GOODN can be described as expensive.
GOODN's Price/Earnings ratio is in line with the industry average.
When comparing the Price/Earnings ratio of GOODN to the average of the S&P500 Index (27.35), we can say GOODN is valued expensively.
The Price/Forward Earnings ratio is 73.05, which means the current valuation is very expensive for GOODN.
The rest of the industry has a similar Price/Forward Earnings ratio as GOODN.
Compared to an average S&P500 Price/Forward Earnings ratio of 37.54, GOODN is valued quite expensively.
Industry RankSector Rank
PE 77.93
Fwd PE 73.05
GOODN Price Earnings VS Forward Price EarningsGOODN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

GOODN's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. GOODN is more expensive than 70.54% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 16.83
GOODN Per share dataGOODN EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6

4.3 Compensation for Growth

The decent profitability rating of GOODN may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y9.09%
EPS Next 3Y7.88%

5

5. Dividend

5.1 Amount

GOODN has a Yearly Dividend Yield of 8.73%, which is a nice return.
GOODN's Dividend Yield is rather good when compared to the industry average which is at 6.64. GOODN pays more dividend than 86.05% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.36, GOODN pays a better dividend.
Industry RankSector Rank
Dividend Yield 8.73%

5.2 History

The dividend of GOODN decreases each year by -4.40%.
GOODN has been paying a dividend for over 5 years, so it has already some track record.
GOODN has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.
Dividend Growth(5Y)-4.4%
Div Incr Years0
Div Non Decr Years5
GOODN Yearly Dividends per shareGOODN Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5

5.3 Sustainability

GOODN pays out 503.13% of its income as dividend. This is not a sustainable payout ratio.
DP503.13%
EPS Next 2Y9.09%
EPS Next 3Y7.88%
GOODN Yearly Income VS Free CF VS DividendGOODN 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
GOODN Dividend Payout.GOODN Dividend Payout, showing the Payout Ratio.GOODN Dividend Payout.PayoutRetained Earnings

GLADSTONE COMMERCIAL COR - GOOD 6 5/8 PERP

NASDAQ:GOODN (7/24/2025, 8:00:01 PM)

22.6

-0.09 (-0.4%)

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)08-12 2025-08-12/amc
Inst Owners48.2%
Inst Owner ChangeN/A
Ins Owners1.21%
Ins Owner Change0%
Market Cap1.12B
Analysts78.18
Price Target27.05 (19.69%)
Short Float %0%
Short Ratio0.65
Dividend
Industry RankSector Rank
Dividend Yield 8.73%
Yearly Dividend1.48
Dividend Growth(5Y)-4.4%
DP503.13%
Div Incr Years0
Div Non Decr Years5
Ex-Date09-22 2025-09-22 (0.138021)
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)6.3%
PT rev (3m)3.24%
EPS NQ rev (1m)0%
EPS NQ rev (3m)108.33%
EPS NY rev (1m)0%
EPS NY rev (3m)35.21%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)1.48%
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.24%
Valuation
Industry RankSector Rank
PE 77.93
Fwd PE 73.05
P/S 7.38
P/FCF N/A
P/OCF 18.71
P/B 3.16
P/tB 4.49
EV/EBITDA 16.83
EPS(TTM)0.29
EY1.28%
EPS(NY)0.31
Fwd EY1.37%
FCF(TTM)-1.11
FCFYN/A
OCF(TTM)1.21
OCFY5.35%
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 0.34
F-Score6
WACC7.16%
ROIC/WACC0.53
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-5.85%
EPS Next 2Y9.09%
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%