Gladstone Capital Corporation (GLAD) - Net Assets
Based on the latest financial reports, Gladstone Capital Corporation (GLAD) has net assets worth $506.47 Million USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($922.81 Million) and total liabilities ($416.34 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check how resilient are Gladstone Capital Corporation's assets to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $506.47 Million |
| % of Total Assets | 54.88% |
| Annual Growth Rate | 5.57% |
| 5-Year Change | 51.37% |
| 10-Year Change | 139.57% |
| Growth Volatility | 13.0 |
Gladstone Capital Corporation - Net Assets Trend (2001–2025)
This chart illustrates how Gladstone Capital Corporation's net assets have evolved over time, based on quarterly financial data. Also explore Gladstone Capital Corporation asset portfolio for the complete picture of this company's asset base.
Annual Net Assets for Gladstone Capital Corporation (2001–2025)
The table below shows the annual net assets of Gladstone Capital Corporation from 2001 to 2025. For live valuation and market cap data, see market cap of Gladstone Capital Corporation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-09-30 | $482.04 Million | +0.69% |
| 2024-09-30 | $478.74 Million | +17.14% |
| 2023-09-30 | $408.69 Million | +29.54% |
| 2022-09-30 | $315.49 Million | -0.93% |
| 2021-09-30 | $318.44 Million | +36.23% |
| 2020-09-30 | $233.74 Million | -6.25% |
| 2019-09-30 | $249.33 Million | +5.16% |
| 2018-09-30 | $237.09 Million | +7.94% |
| 2017-09-30 | $219.65 Million | +9.17% |
| 2016-09-30 | $201.21 Million | +5.10% |
| 2015-09-30 | $191.44 Million | -4.11% |
| 2014-09-30 | $199.66 Million | -3.07% |
| 2013-09-30 | $205.99 Million | +9.24% |
| 2012-09-30 | $188.56 Million | -11.77% |
| 2011-09-30 | $213.72 Million | -14.25% |
| 2010-09-30 | $249.25 Million | +0.07% |
| 2009-09-30 | $249.08 Million | -8.34% |
| 2008-09-30 | $271.75 Million | +22.99% |
| 2007-09-30 | $220.96 Million | +28.04% |
| 2006-09-30 | $172.57 Million | +13.82% |
| 2005-09-30 | $151.61 Million | -0.40% |
| 2004-09-30 | $152.23 Million | +16.38% |
| 2003-09-30 | $130.80 Million | +0.11% |
| 2002-09-30 | $130.66 Million | -0.45% |
| 2001-09-30 | $131.25 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Gladstone Capital Corporation's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 519800000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (September 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $5.20 Million | 1.08% |
| Common Stock | $45.00K | 0.01% |
| Other Comprehensive Income | $-17.49 Million | -3.63% |
| Other Components | $494.28 Million | 102.54% |
| Total Equity | $482.04 Million | 100.00% |
Gladstone Capital Corporation Competitors by Market Cap
The table below lists competitors of Gladstone Capital Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Plasson Indus
TA:PLSN
|
$408.54 Million |
|
Alight Inc
NYSE:ALIT
|
$408.76 Million |
|
Tus-Sound Environmental Resources Co Ltd
SHE:000826
|
$408.81 Million |
|
Guizhou Wire Rope Co Ltd
SHG:600992
|
$408.85 Million |
|
Prince Housing & Development Corp
TW:2511
|
$408.47 Million |
|
CTOS Digital Bhd
KLSE:5301
|
$408.44 Million |
|
Jtekt India Limited
NSE:JTEKTINDIA
|
$408.35 Million |
|
NACL Industries Limited
NSE:NACLIND
|
$408.26 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Gladstone Capital Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 478,741,000 to 482,035,000, a change of 3,294,000 (0.7%).
- Net income of 58,110,000 contributed positively to equity growth.
- Dividend payments of 55,480,000 reduced retained earnings.
- New share issuances of 21,124,000 increased equity.
- Other comprehensive income decreased equity by 17,489,999.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $58.11 Million | +12.06% |
| Dividends Paid | $55.48 Million | -11.51% |
| Share Issuances | $21.12 Million | +4.38% |
| Other Comprehensive Income | $-17.49 Million | -3.63% |
| Other Changes | $-2.97 Million | -0.62% |
| Total Change | $- | 0.69% |
Book Value vs Market Value Analysis
This analysis compares Gladstone Capital Corporation's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.91x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 1.46x to 0.91x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2001-09-30 | $13.16 | $19.26 | x |
| 2002-09-30 | $12.85 | $19.26 | x |
| 2003-09-30 | $12.84 | $19.26 | x |
| 2004-09-30 | $14.69 | $19.26 | x |
| 2005-09-30 | $13.02 | $19.26 | x |
| 2006-09-30 | $14.86 | $19.26 | x |
| 2007-09-30 | $16.77 | $19.26 | x |
| 2008-09-30 | $13.79 | $19.26 | x |
| 2009-09-30 | $11.81 | $19.26 | x |
| 2010-09-30 | $11.83 | $19.26 | x |
| 2011-09-30 | $10.16 | $19.26 | x |
| 2012-09-30 | $8.97 | $19.26 | x |
| 2013-09-30 | $19.62 | $19.26 | x |
| 2014-09-30 | $19.02 | $19.26 | x |
| 2015-09-30 | $18.17 | $19.26 | x |
| 2016-09-30 | $17.34 | $19.26 | x |
| 2017-09-30 | $17.23 | $19.26 | x |
| 2018-09-30 | $17.49 | $19.26 | x |
| 2019-09-30 | $17.04 | $19.26 | x |
| 2020-09-30 | $15.06 | $19.26 | x |
| 2021-09-30 | $19.16 | $19.26 | x |
| 2022-09-30 | $18.37 | $19.26 | x |
| 2023-09-30 | $21.90 | $19.26 | x |
| 2024-09-30 | $21.98 | $19.26 | x |
| 2025-09-30 | $21.27 | $19.26 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Gladstone Capital Corporation utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 12.06%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 40.14%
- • Asset Turnover: 0.16x
- • Equity Multiplier: 1.88x
- Recent ROE (12.06%) is above the historical average (6.71%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2001 | -0.07% | -23.46% | 0.00x | 1.01x | $-13.22 Million |
| 2002 | 5.83% | 72.85% | 0.06x | 1.32x | $-5.45 Million |
| 2003 | 8.47% | 74.16% | 0.07x | 1.64x | $-2.01 Million |
| 2004 | 6.94% | 59.81% | 0.08x | 1.41x | $-4.65 Million |
| 2005 | 10.22% | 69.92% | 0.11x | 1.36x | $329.61K |
| 2006 | 14.16% | 71.79% | 0.15x | 1.31x | $7.17 Million |
| 2007 | 6.77% | 50.90% | 0.08x | 1.66x | $-7.14 Million |
| 2008 | -7.82% | -46.50% | 0.11x | 1.57x | $-48.44 Million |
| 2009 | 1.52% | 8.88% | 0.13x | 1.35x | $-21.12 Million |
| 2010 | 6.58% | 62.42% | 0.10x | 1.09x | $-8.53 Million |
| 2011 | -9.87% | -69.42% | 0.10x | 1.49x | $-42.47 Million |
| 2012 | -4.25% | -25.26% | 0.11x | 1.56x | $-26.86 Million |
| 2013 | 15.64% | 75.45% | 0.14x | 1.43x | $11.62 Million |
| 2014 | 5.63% | 46.13% | 0.08x | 1.51x | $-8.73 Million |
| 2015 | 4.43% | 40.38% | 0.05x | 2.00x | $-10.66 Million |
| 2016 | 5.65% | 45.99% | 0.07x | 1.68x | $-8.75 Million |
| 2017 | 7.82% | 56.79% | 0.08x | 1.67x | $-4.79 Million |
| 2018 | 7.87% | 59.52% | 0.08x | 1.69x | $-5.06 Million |
| 2019 | 7.97% | 59.41% | 0.08x | 1.71x | $-5.06 Million |
| 2020 | -0.80% | -22.31% | 0.02x | 1.96x | $-25.25 Million |
| 2021 | 26.47% | 88.98% | 0.17x | 1.78x | $52.46 Million |
| 2022 | 6.31% | 61.51% | 0.05x | 2.10x | $-11.63 Million |
| 2023 | 10.44% | 72.78% | 0.08x | 1.76x | $1.80 Million |
| 2024 | 19.79% | 78.76% | 0.15x | 1.70x | $46.85 Million |
| 2025 | 12.06% | 40.14% | 0.16x | 1.88x | $9.91 Million |
Industry Comparison
This section compares Gladstone Capital Corporation's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $1,222,611,667
- Average return on equity (ROE) among peers: 5.00%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Gladstone Capital Corporation (GLAD) | $506.47 Million | -0.07% | 0.82x | $408.48 Million |
| Acadian Asset Management Inc (AAMI) | $84.00 Million | 95.24% | 7.06x | $1.86 Billion |
| AllianceBernstein Holding L.P. (AB) | $2.07 Billion | 13.23% | 0.00x | $3.60 Billion |
| Associated Capital Group Inc (AC) | $948.70 Million | 4.12% | 0.07x | $78.56 Million |
| Abrdn Emerging Markets Equity Income Fund Inc (AEF) | $79.50 Million | 27.37% | 0.59x | $265.69 Million |
| AgriFORCE Growing Systems Ltd (AGRI) | $2.99 Million | -170.94% | 0.46x | $194.14 Million |
| Alvarium Tiedemann Holdings Inc. (ALTI) | $782.49 Million | -21.16% | 0.62x | $368.87 Million |
| Affiliated Managers Group Inc (AMG) | $962.54 Million | 12.37% | 1.41x | $8.19 Billion |
| Ameriprise Financial Inc (AMP) | $6.55 Billion | 54.41% | 28.15x | $41.87 Billion |
| AMTD IDEA Group (AMTD) | $611.58 Million | 16.58% | 4.02x | $44.19 Million |
| Artisan Partners Asset Management Inc (APAM) | $132.30 Million | 18.75% | 3.39x | $2.65 Billion |
About Gladstone Capital Corporation
Gladstone Capital Corporation is a business development company specializing in lower middle market, growth capital, add on acquisitions, change of control, buy & build strategies, debt refinancing, debt investments in senior term loans, revolving loans, secured first and second lien term loans, senior subordinated loans, unitranche loans, junior subordinated loans, and mezzanine loans and equity… Read more