Gladstone Capital Corporation (GLAD) — Working Capital to Net Assets Ratio
Gladstone Capital Corporation (GLAD) has a Working Capital to Net Assets ratio of -34.8% as of December 2025. Working capital of $-176.12 Million (current assets of $16.58 Million minus current liabilities of $192.70 Million) is measured against net assets of $506.47 Million. A higher ratio indicates strong short-term liquidity financed by the equity base. See Gladstone Capital Corporation net asset quality index to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Gladstone Capital Corporation Working Capital to Net Assets (2003–2025)
This chart shows how Gladstone Capital Corporation's Working Capital to Net Assets ratio has evolved across 23 annual periods from 2003 to 2025. As of December 2025, the ratio stands at -34.8%, reflecting working capital of $-176.12 Million against net assets of $506.47 Million USD. Check GLAD intangible-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for Gladstone Capital Corporation (2003–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Gladstone Capital Corporation from 2003 to 2025, covering 23 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see Gladstone Capital Corporation market cap and net worth.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 8.0% | $38.53 Million | $482.04 Million | $42.86 Million | $4.33 Million | ▲ +6.6 pp |
| 2024 | 1.4% | $6.75 Million | $478.74 Million | $10.90 Million | $4.15 Million | ▲ +11.5 pp |
| 2023 | -10.1% | $-41.42 Million | $408.69 Million | $10.34 Million | $51.76 Million | ▲ +33.2 pp |
| 2022 | -43.4% | $-136.87 Million | $315.49 Million | $7.95 Million | $144.82 Million | ▼ -28.7 pp |
| 2021 | -14.7% | $-46.80 Million | $318.44 Million | $5.98 Million | $52.79 Million | ▲ +37.4 pp |
| 2020 | -52.1% | $-121.68 Million | $233.74 Million | $7.52 Million | $129.21 Million | ▼ -33.1 pp |
| 2019 | -19.0% | $-47.33 Million | $249.33 Million | $21.16 Million | $68.48 Million | ▲ +24.6 pp |
| 2018 | -43.5% | $-103.24 Million | $237.09 Million | $7.38 Million | $110.62 Million | ▼ -3.8 pp |
| 2017 | -39.7% | $-87.19 Million | $219.65 Million | $6.71 Million | $93.90 Million | ▼ -7.9 pp |
| 2016 | -31.8% | $-64.03 Million | $201.21 Million | $8.48 Million | $72.52 Million | ▲ +30.2 pp |
| 2015 | -62.0% | $-118.78 Million | $191.44 Million | $9.39 Million | $128.17 Million | ▼ -50.3 pp |
| 2014 | -11.8% | $-23.52 Million | $199.66 Million | $15.10 Million | $38.62 Million | ▼ -4.5 pp |
| 2013 | -7.2% | $-14.90 Million | $205.99 Million | $32.86 Million | $47.77 Million | ▲ +18.7 pp |
| 2012 | -25.9% | $-48.86 Million | $188.56 Million | $14.73 Million | $63.59 Million | ▲ +15.3 pp |
| 2011 | -41.2% | $-87.99 Million | $213.72 Million | $13.34 Million | $101.33 Million | ▼ -37.5 pp |
| 2010 | -3.6% | $-9.07 Million | $249.25 Million | $7.73 Million | $16.80 Million | ▲ +25.3 pp |
| 2009 | -29.0% | $-72.19 Million | $249.08 Million | $13.41 Million | $85.59 Million | ▲ +21.8 pp |
| 2008 | -50.8% | $-137.99 Million | $271.75 Million | $15.02 Million | $153.01 Million | ▼ -55.6 pp |
| 2007 | 4.8% | $10.70 Million | $220.96 Million | $11.29 Million | $587.51K | ▲ +31.5 pp |
| 2006 | -26.7% | $-46.03 Million | $172.57 Million | $3.97 Million | $49.99 Million | ▲ +7.2 pp |
| 2005 | -33.8% | $-51.30 Million | $151.61 Million | $1.94 Million | $53.24 Million | ▼ -63.8 pp |
| 2004 | 29.9% | $45.56 Million | $152.23 Million | $66.91 Million | $21.35 Million | ▲ +11.7 pp |
| 2003 | 18.2% | $23.87 Million | $130.80 Million | $102.32 Million | $78.45 Million | — |