GLADSTONE INVESTMENT CORPORATION\DE financial statements

Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data GLADSTONE INVESTMENT CORPORATION\DE files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2021	FY2023	FY2023	FY2024	FY2025	FY2026
Income tax	0	0	0	0	0	0
Net income	42.5	102	35.5	85.3	65.3	185
EPS, basic	0.54	0.45	1.11	0.63	0.76
EPS, diluted	0.54	0.45	1.11	0.63	0.76
Shares, basic (weighted)	33.2	33.2	33.3	34.5	36.7	38.7
Shares, diluted (weighted)	33.2	33.2	33.3	34.5	36.7	38.7
Dividend per share	0.93	1.17	1.41	2.20	1.66	1.50

Balance sheet

	FY2021	FY2023	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	2.4	14.2	2.68	2.46	14.3	2.39
Total assets		740	766	938	1,006	1,323
Total liabilities		295	326	445	507	655
Total debt		261	293	398	456	564
Paid-in capital		398	402	445	446	487
Retained earnings		47.8	37.9	48	53.5	181
Shareholders' equity	382	446	440	493	499	668
Total equity	382	446	440	493	499	668
Total liabilities and equity		740	766	938	1,006	1,323
Shares outstanding	33.2	33.2	33.6	36.7	36.8	39.8

Cash flow statement

	FY2021	FY2023	FY2023	FY2024	FY2025	FY2026
Net income	42.5	102	35.5	85.3	65.3	185
Change in payables	-0.52	0.24	-0.01	-0.05	0.56	-0.04
Cash from operations	-29.7	36.6	-4.5	-69.9	16.3	-102
Stock issued	1.77	0	5.49	44.5	2.03
Dividends paid	-30.9	-38.9	-47.1	-76.1	-61	-57.2
Cash from financing	28.1	-24.5	-6.74	69.9	-4.37	88.8
Net change in cash	-1.66	12.1	-11.2	-0.03	11.9	-12.8
Interest paid	3.17	9.84	14.1	22	25.4	33.8

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $24.29 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Return on equity (ROE)	25.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	12.7%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Net income growth, 1y	182.8%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	73.2%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	34.2%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-723.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Dividend per share growth, 1y	-9.6%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	2.1%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	10.0%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	33.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	15.0%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	11.8%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	31.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	20.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y	5.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	5.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	3.1%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Debt / equity	0.88x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	43.8%	Total debt / total assets.
Liabilities / assets	50.4%	Total liabilities / total assets.
Net debt	$567.2M	Total debt - cash - short-term investments. Negative means more cash than debt.
Tangible book value	$646.8M	Shareholders' equity - goodwill - intangible assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	$4.15	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Operating cash flow per share	-$1.09	Cash from operations / diluted weighted shares.
Book value per share	$16.24	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$16.24	Tangible book value / shares outstanding.
Cash per share	$0.09	(Cash + short-term investments) / shares outstanding.
Payout ratio	23.0%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$928.2M	Share price x shares outstanding.
Enterprise value	$1.50B	Market cap + total debt - cash - short-term investments.
P/E	5.62x	Market cap / net income. Only when net income is positive.
P/B	1.44x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.44x	Market cap / tangible book value, when positive.
Earnings yield	17.8%	Net income / market cap (the inverse of P/E).
Dividend yield	4.1%	Dividends paid over the period / market cap.
Shareholder yield	4.1%	(Dividends paid + share buybacks) / market cap.

Was GLADSTONE INVESTMENT CORPORATION\DE profitable in fiscal 2026?

Yes. Net income was $184.8M, a net margin of -.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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