Gladstone Commercial Corporation (GOOD) Key Metrics
GOOD valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $608.9M
- Enterprise value
- $1.47B
- P/E (TTM)
- 49.9 10-yr median 68.5
- Forward P/E
- 61.0
- PEG ratio
- 39.84
- Price / sales
- 3.6 10-yr median 4.8
- Price / book
- 3.9 10-yr median 3.1
- EV / EBITDA
- 11.2 10-yr median 13.7
- Dividend yield
- 9.54% $1.20 a year
- Beta
- 1.07
GOOD key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsGOOD valuation Price multiples at each fiscal year-end price.
GOOD returns How much profit the business earns on the capital it uses.
GOOD per-share figures Results divided by the shares outstanding at year-end.
GOOD financial health Debt, liquidity and how easily interest is covered.
GOOD efficiency & capital use Working capital cycle and where the cash goes.
GOOD valuation history
GOOD returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
GOOD debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
GOOD cash returned to shareholders
GOOD price vs earnings per share
GOOD key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $503.8M | $678.3M | $528.8M | $726.2M | $941.6M | $622.5M | $671.0M | $513.9M | $555.1M | $466.2M |
| Enterprise value | $1.35B | $1.36B | $1.26B | $1.47B | $1.65B | $1.29B | $1.30B | $1.07B | $1.09B | $970.9M |
| P/E ratio | 26.1 | 28.3 | 106.1 | 67.2 | 86.1 | 41.7 | 69.7 | 41.7 | 93.5 | 117.8 |
| Price / sales | 3.1 | 4.5 | 3.6 | 4.9 | 6.8 | 4.7 | 5.9 | 4.8 | 5.9 | 5.4 |
| Price / book | 1.5 | 4.0 | 3.5 | 3.6 | 4.7 | 2.9 | 3.2 | 2.1 | 2.1 | 1.9 |
| Price / free cash flow | 7.5 | 15.4 | 9.8 | 10.5 | 13.4 | 9.5 | 11.1 | 22.0 | — | — |
| Price / operating cash flow | 5.7 | 11.9 | 8.8 | 10.5 | 13.4 | 9.5 | 11.1 | 9.2 | 11.9 | 11.3 |
| EV / sales | 8.4 | 9.1 | 8.5 | 9.9 | 12.0 | 9.7 | 11.3 | 10.1 | 11.5 | 11.2 |
| EV / EBITDA | 11.3 | 11.6 | 12.6 | 14.2 | 17.0 | 13.2 | 14.4 | 12.9 | 14.9 | 14.4 |
| EV / free cash flow | 20.1 | 30.9 | 23.5 | 21.2 | 23.5 | 19.6 | 21.5 | 46.0 | — | — |
| Earnings yield | 3.8% | 3.5% | 0.9% | 1.5% | 1.2% | 2.4% | 1.4% | 2.4% | 1.1% | 0.8% |
| Free cash flow yield | 13.3% | 6.5% | 10.2% | 9.5% | 7.4% | 10.5% | 9.0% | 4.5% | −9.1% | −4.9% |
| Dividend yield | 13.5% | 9.3% | 11.5% | 9.8% | 7.2% | 10.2% | 8.8% | 10.6% | 9.1% | 9.1% |
| Shareholder yield (dividends + buybacks) | 14.4% | 9.5% | 11.8% | 9.8% | 16.5% | 10.2% | 17.2% | 10.6% | 9.1% | 17.4% |
| Share price at fiscal year-end | $10.67 | $16.24 | $13.24 | $18.50 | $25.77 | $18.00 | $21.86 | $17.92 | $21.06 | $20.10 |
| Per share | ||||||||||
| Revenue per share | $3.42 | $3.58 | $3.69 | $3.80 | $3.77 | $3.85 | $3.73 | $3.72 | $3.60 | $3.72 |
| Earnings per share | $0.41 | $0.57 | $0.12 | $0.28 | $0.30 | $0.43 | $0.31 | $0.43 | $0.23 | $0.17 |
| Operating cash flow per share | $1.87 | $1.36 | $1.51 | $1.76 | $1.92 | $1.89 | $1.96 | $1.94 | $1.78 | $1.77 |
| Free cash flow per share | $1.42 | $1.06 | $1.34 | $1.76 | $1.92 | $1.89 | $1.96 | $0.81 | −$1.92 | −$0.99 |
| Cash per share | $0.23 | $0.26 | $0.30 | $0.30 | $0.22 | $0.32 | $0.22 | $0.23 | $0.25 | $0.20 |
| Book value per share | $7.24 | $4.10 | $3.84 | $5.19 | $5.51 | $6.16 | $6.78 | $8.71 | $10.12 | $10.34 |
| Tangible book value per share | $4.79 | $1.82 | $1.31 | $2.35 | $2.38 | $2.77 | −$0.74 | $0.94 | $1.10 | $1.24 |
| Dividends per share | $1.44 | $1.50 | $1.52 | $1.81 | $1.85 | $1.84 | $1.92 | $1.90 | $1.91 | $1.83 |
| Capex per share | $0.44 | $0.31 | $0.17 | $3.05 | $2.89 | $3.88 | $4.14 | $1.12 | $3.70 | $2.76 |
| Debt per share | $18.14 | $16.70 | $18.63 | $19.22 | $19.52 | $19.50 | $20.60 | $19.74 | $20.59 | $21.96 |
| Shares outstanding | 47.2M | 41.8M | 39.9M | 39.3M | 36.5M | 34.6M | 30.7M | 28.7M | 26.4M | 23.2M |
| Change in shares outstanding | +13.0% | +4.6% | +1.8% | +7.4% | +5.7% | +12.7% | +7.0% | +8.8% | +13.6% | +6.2% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 7.5% | 14.8% | 2.8% | 5.3% | 5.3% | 7.1% | 4.2% | 4.8% | 2.3% | 1.7% |
| Return on invested capital (ROIC) | 4.6% | 2.9% | 2.8% | 2.4% | 2.0% | 2.2% | 2.2% | 3.4% | 2.2% | 2.2% |
| Return on assets (ROA) | 1.6% | 2.2% | 0.4% | 0.9% | 1.0% | 1.4% | 1.0% | 1.3% | 0.7% | 0.5% |
| Return on tangible assets | 1.7% | 2.4% | 0.5% | 1.0% | 1.1% | 1.5% | 1.2% | 1.7% | 0.9% | 0.6% |
| Free cash flow margin | 41.6% | 29.6% | 36.4% | 46.4% | 50.9% | 49.2% | 52.6% | 21.9% | −53.5% | −26.5% |
| Income quality (OCF / net income) | 4.57 | 2.37 | 12.11 | 6.40 | 6.41 | 4.38 | 6.25 | 4.51 | 7.89 | 10.40 |
| Financial health | ||||||||||
| Total debt | $856.4M | $697.4M | $744.0M | $754.5M | $713.0M | $674.4M | $632.4M | $566.1M | $542.6M | $509.4M |
| Cash & short-term investments | $10.8M | $11.0M | $12.0M | $11.7M | $8.0M | $11.0M | $6.8M | $6.6M | $6.7M | $4.7M |
| Net debt | $845.6M | $686.5M | $732.0M | $742.9M | $705.1M | $663.4M | $625.6M | $559.5M | $535.9M | $504.7M |
| Debt / equity | 2.51 | 4.07 | 4.85 | 3.70 | 3.54 | 3.16 | 3.04 | 2.27 | 2.03 | 2.12 |
| Debt / assets | 0.69 | 0.64 | 0.66 | 0.63 | 0.62 | 0.61 | 0.61 | 0.60 | 0.58 | 0.60 |
| Net debt / EBITDA | 7.08 | 5.86 | 7.31 | 7.18 | 7.27 | 6.82 | 6.96 | 6.72 | 7.31 | 7.49 |
| Current ratio | 1.63 | 1.10 | 0.43 | 0.37 | 0.29 | 0.41 | 0.29 | 0.98 | 2.00 | 1.12 |
| Quick ratio | 1.34 | 0.99 | 0.20 | 0.33 | 0.31 | 0.41 | 0.29 | 1.00 | 2.02 | 1.12 |
| Interest coverage | 1.4 | 1.4 | 1.4 | 1.4 | 1.3 | 1.4 | 1.3 | 1.4 | 1.4 | 1.3 |
| Working capital | $22.7M | $3.8M | −$69.5M | −$48.1M | −$50.0M | −$47.6M | −$56.7M | −$1.3M | $30.4M | $5.5M |
| Invested capital | $1.19B | $857.7M | $885.2M | $946.8M | $906.4M | $876.5M | $833.7M | $809.2M | $802.7M | $744.6M |
| Tangible asset value | $226.4M | $76.2M | $53.2M | $94.1M | $88.1M | $98.7M | −$19.9M | $31.5M | $28.9M | $28.8M |
| Net current asset value | −$846.3M | −$879.6M | −$926.8M | −$968.8M | −$920.3M | −$848.2M | −$805.8M | −$630.3M | −$600.8M | −$558.1M |
| Graham number | $8.16 | $7.28 | $3.28 | $5.67 | $6.09 | $7.74 | $6.92 | $9.18 | $7.16 | $6.30 |
| Graham net-net per share | −$18.07 | −$21.45 | −$23.10 | −$24.31 | −$24.75 | −$24.39 | −$25.86 | −$22.74 | −$23.92 | −$25.22 |
| Capital allocation | ||||||||||
| Dividends paid | $68.2M | $62.8M | $60.6M | $71.1M | $67.6M | $63.8M | $58.9M | $54.4M | $50.4M | $42.5M |
| Share buybacks (net) | $4.5M | $1.7M | $1.6M | $360,000 | $87.7M | $0 | $56.6M | $34,000 | $24,000 | $38.7M |
| Dividend payout ratio | 353.4% | 261.6% | — | 658.0% | 618.1% | 426.8% | 611.6% | 441.4% | 849.0% | — |
| Dividends + buybacks / free cash flow | 108.2% | 146.1% | 115.8% | 103.3% | 221.5% | 97.3% | 191.9% | 233.1% | — | — |
| Capex / revenue | 13.0% | 8.6% | 4.5% | 80.4% | 76.6% | 100.9% | 111.2% | 30.2% | 102.9% | 74.1% |
| Capex / operating cash flow | 23.8% | 22.5% | 11.1% | 173.2% | 150.4% | 205.0% | 211.2% | 58.0% | 208.2% | 155.5% |
| Capex / depreciation | 0.36 | 0.23 | 0.12 | 1.94 | 1.75 | 2.42 | 2.44 | 0.68 | 2.28 | 1.71 |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 4.1% | 4.3% | 4.5% | 3.7% | 3.4% | 3.6% | 4.3% | 11.3% | 3.8% | 4.5% |
| Efficiency | ||||||||||
| Days sales outstanding | 75.3 | 72.8 | 98.8 | 95.5 | 100.2 | 101.1 | 114.8 | 116.4 | 121.4 | 75.3 |
| Days of inventory on hand | 17.8 | 184.3 | 174.3 | 11.7 | -6.5 | -1.5 | -13.6 | -20.9 | -21.9 | 508.2 |
| Days payables outstanding | 29.1 | 155.0 | 131.3 | 89.9 | 61.9 | 57.8 | 85.0 | 111.0 | 314.1 | 228.2 |
| Cash conversion cycle (days) | 64.0 | 102.1 | 141.8 | 17.3 | 31.8 | 41.7 | 16.2 | -15.5 | -214.5 | 355.2 |
| Receivables turnover | 4.85 | 5.01 | 3.69 | 3.82 | 3.64 | 3.61 | 3.18 | 3.14 | 3.01 | 4.85 |
| Payables turnover | 12.56 | 2.35 | 2.78 | 4.06 | 5.89 | 6.31 | 4.29 | 3.29 | 1.16 | 1.60 |
| Inventory turnover | 20.56 | 1.98 | 2.09 | 31.17 | — | — | — | — | — | — |
| Asset turnover | 0.14 | 0.13 | 0.13 | 0.13 | 0.12 | 0.12 | 0.12 | 0.11 | 0.11 | 0.10 |
| Average receivables | $33.3M | $29.8M | $39.9M | $39.0M | $37.8M | $36.9M | $36.0M | $34.1M | $31.5M | $17.8M |
| Average payables | $12.1M | $13.4M | $11.6M | $8.2M | $5.6M | $5.0M | $4.1M | $5.0M | $6.6M | $6.1M |
| Average inventory | $7.4M | $15.9M | $15.4M | $1.1M | −$587,000 | −$129,500 | −$661,500 | −$946,500 | −$460,500 | $13.7M |
| Intangibles / total assets | 9.3% | 8.7% | 8.9% | 9.3% | 10.0% | 10.7% | 22.2% | 23.7% | 25.6% | 24.8% |
Computed from GOOD's annual financial statements (latest annual report filed February 18, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
GOOD valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Gladstone Commercial traded at 26.1 times earnings, against a 10-year median of 68.5. Based on the latest twelve months, the trailing P/E is 49.9 and the forward P/E is 61.0. Gladstone Commercial earned a return on equity of 7.5% and a return on invested capital of 4.6% in fiscal 2025. It ended the year with $856.4 million of debt and $10.8 million in cash and short-term investments, net debt of $845.6 million. It returned $72.7 million to shareholders: $68.2 million in dividends and $4.5 million in share buybacks, 108% of free cash flow. The share count rose 103.6% from 23.2M to 47.2M over 9 years.
See the GOOD income statement, the GOOD chart for price history, or the GOOD stock overview for the latest quote and news.
GOOD key metrics FAQ
What is Gladstone Commercial's P/E ratio?
Gladstone Commercial's trailing P/E ratio is 49.9 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 61.0. At the end of fiscal 2025 it was 26.1, compared with a 10-year median of 68.5.
What is Gladstone Commercial's EV/EBITDA?
Gladstone Commercial's enterprise value was 11.3 times EBITDA at the end of fiscal 2025 (enterprise value $1.3 billion, EBITDA $119.5 million); the current EV/EBITDA is 11.2.
What is Gladstone Commercial's return on equity?
Gladstone Commercial's return on equity (ROE) was 7.5% in fiscal 2025: net income of $19.3 million on average shareholders' equity of $256.5 million.
What is Gladstone Commercial's ROIC?
Gladstone Commercial's return on invested capital was 4.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Gladstone Commercial have?
Gladstone Commercial had total debt of $856.4 million at the end of fiscal 2025, a debt-to-equity ratio of 2.51 and $845.6 million of net debt (7.08 times EBITDA).
What is Gladstone Commercial's dividend yield?
Gladstone Commercial's forward dividend yield is 9.54%. Gladstone Commercial paid $68.2 million in dividends in fiscal 2025 ($1.44 per share), a payout ratio of 353.4%.
Does Gladstone Commercial buy back its shares?
Yes. Gladstone Commercial spent $4.5 million on net share repurchases in fiscal 2025 Shares outstanding changed +13.0% over the year, to 47.2M..
What is Gladstone Commercial's free cash flow yield?
Gladstone Commercial generated $67.2 million of free cash flow in fiscal 2025, a free cash flow yield of 13.3% on its market value at year-end ($503.8 million).
What is Gladstone Commercial's current ratio?
Gladstone Commercial's current ratio was 1.63 at the end of fiscal 2025: current assets were 1.63 times current liabilities.