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Gladstone Capital Corporation (GLAD)

Financial Services | Asset Management | McLean, United States | NasdaqGS
18.92 USD -0.09 (-0.473%) ⇩ (Oct. 14, 2026, 4 p.m. EDT)
After hours: 18.92
Short-term:★★☆☆☆Long-term:★★⯪☆☆Dividends:★★★☆☆
Hot Take ↕ | Oct. 10, 2026, 2:41 a.m. EDT

The investment case here is a classic high-yield trap with deteriorating operational fundamentals. While the 9.47% dividend yield is attractive, the payout ratio of 86.6% signals that nearly nine cents of every dollar earned is being distributed, leaving little room for error if earnings slip. More concerning is the operational reality: operating cash flow is massively negative (-$150M) while free cash flow is positive ($29M), suggesting the business relies on financing or non-cash accounting adjustments to stay solvent, which is unsustainable for a BDC. The balance sheet is fragile with debt-to-equity near 81%. Although the stock trades at a discount to book value, this is likely a market correction for the hidden risks in the cash flow mismatch. The recent news of upgrades appears to be noise against the backdrop of these structural weaknesses. The options market confirms this anxiety, with traders buying deep protection rather than betting on a rally. For a long-term holder, the multi-year trajectory of such a capital-intensive, cash-burning entity is precarious. The short-term rating is merely neutral because the high yield provides a floor, but the long-term outlook remains neutral due to the inability to sustain this payout without eroding equity.
Model Selection — Backtest MAE (log-scale, lower is better)
ModelMAE
AutoETS ✓0.038864
AutoARIMA0.038865
MSTL0.039079
AutoTheta0.050974

Forecast horizon: 45 days | Selected: AutoETS

Forecast Reliability
Score 54%
H-stat 0.97
Ljung-Box p 0.000
Jarque-Bera p 0.616
Excess Kurtosis -0.38
Attribute Value
Sector Financial Services
Ex Dividend Date 2026-09-20
Last Dividend Date 2026-09-20
Debt to Equity Ratio 80.997
Revenue per Share 4.385
Market Cap 427,460,864
Trailing P/E 8.88
Forward P/E 9.60
Beta 0.94
Profit Margins 48.67%
Website https://www.gladstonecapital.com

As of Oct. 10, 2026, 2:41 a.m. EDT: Speculators are positioning defensively with heavy put volume and open interest concentrated significantly out-of-the-money (OTM), particularly in the December 2026 expiration where massive OTM strikes show high volume. This suggests a fear of a sharp downside event or a 'crash' scenario rather than a steady decline. Conversely, call activity is sparse and mostly ATM, indicating a lack of aggressive bullish conviction despite the high dividend yield.

Dividend Data

Yield Summary
Last Yield 1yr Yield 3yr Avg 5yr Avg
0.78% 10.37% 9.69% 9.19%
Dividend History
Date Dividend Yield %
2026-09-21 0.150 0.777605
2026-09-10 0.180 0.928793
2026-08-18 0.150 0.770812
2026-07-24 0.150 0.798297
2026-06-23 0.150 0.798722
2026-05-20 0.150 0.792812
2026-04-24 0.150 0.818777
2026-03-23 0.150 0.849858
2026-02-18 0.150 0.806885
2026-01-23 0.150 0.727096
2025-12-22 0.150 0.736016
2025-11-17 0.150 0.799148
2025-10-24 0.150 0.762971
2025-09-23 0.100 0.436681
2025-09-22 0.165 0.718016
2025-08-20 0.165 0.621001
2025-07-21 0.165 0.580986
2025-06-20 0.165 0.621937
2025-05-21 0.165 0.631217
2025-04-21 0.165 0.688935
2025-03-19 0.165 0.601531
2025-02-19 0.165 0.564103
2025-01-24 0.165 0.547809
2024-12-20 0.165 0.602630
2024-12-04 0.400 1.504891
2024-11-20 0.165 0.630493
2024-10-22 0.165 0.669643
2024-09-20 0.165 0.703325
2024-08-21 0.165 0.733008
2024-07-22 0.165 0.683230
2024-06-18 0.165 0.729766
2024-05-16 0.165 0.747283
2024-04-18 0.165 0.798258
2024-03-20 0.166 0.797310
2024-02-20 0.166 0.817734
2024-01-22 0.166 0.753176
2023-12-15 0.166 0.797310
2023-11-17 0.166 0.832497
2023-10-19 0.166 0.874605
2023-09-20 0.166 0.821782
2023-09-06 0.040 0.205761
2023-08-22 0.166 0.828343
2023-07-20 0.166 0.798845
2023-06-20 0.160 0.830737
2023-05-22 0.160 0.850159
2023-04-20 0.160 0.844773
2023-03-16 0.150 0.797872
2023-02-16 0.150 0.714286
2023-01-19 0.150 0.748503
2022-12-19 0.140 0.738397
2022-11-17 0.140 0.664137
2022-10-20 0.140 0.771775
2022-09-21 0.136 0.718816
2022-08-22 0.136 0.655106
2022-07-21 0.136 0.626151
2022-06-21 0.136 0.695297
2022-05-19 0.136 0.622711
2022-04-21 0.136 0.546185
2022-03-22 0.130 0.541216
2022-02-17 0.130 0.577265
2022-01-20 0.130 0.588768
2021-12-22 0.130 0.591447
2021-11-18 0.130 0.538079
2021-10-21 0.130 0.560828
2021-09-21 0.130 0.573698
2021-08-20 0.130 0.563747
2021-07-22 0.130 0.570175
2021-06-17 0.130 0.570175
2021-05-18 0.130 0.607477
2021-04-22 0.130 0.604651
2021-03-17 0.130 0.644841
2021-02-16 0.130 0.666667
2021-01-21 0.130 0.692964
2020-12-22 0.130 0.736961
2020-11-19 0.130 0.778443
2020-10-22 0.130 0.862069
2020-09-22 0.130 0.874832
2020-08-21 0.130 0.871314
2020-07-23 0.130 0.873656
2020-06-18 0.130 0.872483
2020-05-18 0.130 1.017214
2020-04-23 0.130 1.094276
2020-03-19 0.140 1.206897
2020-02-18 0.140 0.679612
2020-01-23 0.140 0.676328
2019-12-18 0.140 0.675676
2019-11-18 0.140 0.671785
2019-10-21 0.140 0.715746
2019-09-16 0.140 0.732984
2019-08-19 0.140 0.748663
2019-07-19 0.140 0.745474
2019-06-18 0.140 0.751880
2019-05-21 0.140 0.742312
2019-04-18 0.140 0.752688
2019-03-19 0.140 0.770077
2019-02-19 0.140 0.777778
2019-01-17 0.140 0.811124
2018-12-19 0.140 0.892857
2018-11-19 0.140 0.785634
2018-10-18 0.140 0.750268
2018-09-18 0.140 0.724638
2018-08-20 0.140 0.725389
2018-07-19 0.140 0.760043
2018-06-19 0.140 0.765027
2018-05-21 0.140 0.768386
2018-04-19 0.140 0.811124
2018-03-19 0.140 0.799087
2018-02-15 0.140 0.790960
2018-01-19 0.140 0.754310
2017-12-18 0.140 0.733753
2017-11-17 0.140 0.715746
2017-10-19 0.140 0.720165
2017-09-19 0.140 0.750268
2017-08-17 0.140 0.732984
2017-07-19 0.140 0.707786
2017-06-19 0.140 0.712106
2017-05-17 0.140 0.711382
2017-04-19 0.140 0.726141
2017-03-20 0.140 0.765027
2017-02-14 0.140 0.742312
2017-01-18 0.140 0.742312
2016-12-16 0.140 0.773481
2016-11-15 0.140 0.875000
2016-10-19 0.140 0.831354
2016-09-19 0.140 0.850547
2016-08-18 0.140 0.824499
2016-07-20 0.140 0.877193
2016-06-15 0.140 0.979021
2016-05-17 0.140 1.000000
2016-04-20 0.140 0.933333
2016-03-17 0.140 0.970874
2016-02-16 0.140 1.107595
2016-01-20 0.140 1.408451
2015-12-16 0.140 0.952381
2015-11-13 0.140 0.810185
2015-10-22 0.140 0.776915
2015-09-17 0.140 0.795455
2015-08-18 0.140 0.848485
2015-07-22 0.140 0.880503
2015-06-17 0.140 0.847458
2015-05-15 0.140 0.801833
2015-04-22 0.140 0.790960
2015-03-18 0.140 0.789177
2015-02-13 0.140 0.900901
2015-01-21 0.140 0.944669
2014-12-17 0.140 0.843373
2014-11-13 0.140 0.760870
2014-10-20 0.140 0.808314
2014-09-17 0.140 0.748663
2014-08-18 0.140 0.725389
2014-07-23 0.140 0.700000
2014-06-17 0.140 0.706357
2014-05-16 0.140 0.725389
2014-04-16 0.140 0.714286
2014-03-13 0.140 0.716479
2014-02-14 0.140 0.707786
2014-01-17 0.140 0.696517
2013-12-12 0.140 0.755124
2013-11-12 0.140 0.770077
2013-10-18 0.140 0.781250
2013-09-16 0.140 0.822562
2013-08-19 0.140 0.849515
2013-07-17 0.140 0.800000
2013-06-17 0.140 0.835322
2013-05-16 0.140 0.801833
2013-04-18 0.140 0.782998
2013-03-13 0.140 0.752688
2013-02-13 0.140 0.764192
2013-01-16 0.140 0.794552
2012-12-17 0.140 0.845411
2012-11-15 0.140 0.938338
2012-10-18 0.140 0.778643
2012-09-17 0.140 0.770925
2012-08-20 0.140 0.806452
2012-07-18 0.140 0.828402
2012-06-18 0.140 0.892857
2012-05-16 0.140 0.877193
2012-04-18 0.140 0.890585
2012-03-20 0.140 0.824499
2012-02-16 0.140 0.832342
2012-01-19 0.140 0.814901
2011-12-19 0.140 0.935829
2011-11-15 0.140 0.833333
2011-10-19 0.140 0.961538
2011-09-20 0.140 0.932091
2011-08-17 0.140 0.857843
2011-07-20 0.140 0.744681
2011-06-16 0.140 0.740741
2011-05-18 0.140 0.645161
2011-04-19 0.140 0.616197
2011-03-17 0.140 0.631199
2011-02-16 0.140 0.614035
2011-01-19 0.140 0.603448
2010-12-21 0.140 0.588730
2010-11-17 0.140 0.625559
2010-10-19 0.140 0.609225
2010-09-20 0.140 0.608696
2010-08-19 0.140 0.669856
2010-07-20 0.140 0.630631
2010-06-18 0.140 0.625559
2010-05-18 0.140 0.626118
2010-04-20 0.140 0.529101
2010-03-19 0.140 0.621118
2010-02-16 0.140 0.775194
2010-01-19 0.140 0.889454
2009-12-18 0.140 0.891720
2009-11-17 0.140 0.865266
2009-10-20 0.140 0.782123
2009-09-18 0.140 0.775194
2009-08-19 0.140 0.943396
2009-07-21 0.140 0.768386
2009-06-18 0.140 0.954980
2009-05-27 0.140 1.033973
2009-04-23 0.140 1.219512
2009-03-19 0.280 1.933702
2009-02-17 0.280 1.774398
2009-01-20 0.280 1.832461
2008-12-18 0.280 1.783440
2008-11-17 0.280 1.804124
2008-10-21 0.280 1.206897
2008-09-18 0.280 0.785193
2008-08-19 0.280 0.902062
2008-07-21 0.280 0.910273
2008-06-18 0.280 0.799087
2008-05-19 0.280 0.768386
2008-04-18 0.280 0.735680
2008-03-18 0.280 0.786075
2008-02-19 0.280 0.826446
2008-01-18 0.280 0.821114
2007-12-18 0.280 0.728408
2007-11-19 0.280 0.717581
2007-10-19 0.280 0.760043
2007-09-18 0.280 0.665716
2007-08-21 0.280 0.707071
2007-07-19 0.280 0.665399
2007-06-19 0.280 0.612691
2007-05-18 0.280 0.607375
2007-04-18 0.280 0.580191
2007-03-20 0.280 0.609756
2007-02-15 0.280 0.597525
2007-01-19 0.280 0.582605
2006-12-18 0.280 0.582121
2006-11-17 0.280 0.572129
2006-10-19 0.280 0.612156
2006-09-19 0.280 0.625000
2006-08-21 0.280 0.634058
2006-07-19 0.280 0.632911
2006-06-20 0.270 0.633803
2006-05-18 0.270 0.622120
2006-04-18 0.270 0.607561
2006-03-21 0.270 0.645007
2006-02-15 0.270 0.631136
2006-01-17 0.270 0.659824
2005-12-19 0.270 0.624711
2005-11-17 0.270 0.586957
2005-10-19 0.270 0.630252
2005-09-20 0.270 0.594714
2005-08-19 0.270 0.587723
2005-07-19 0.270 0.546338
2005-06-14 0.260 0.561798
2005-05-11 0.260 0.578292
2005-04-13 0.260 0.586907
2005-03-16 0.240 0.500000
2005-02-09 0.240 0.492005
2005-01-12 0.240 0.500000
2004-12-15 0.240 0.493016
2004-11-15 0.240 0.475248
2004-10-14 0.240 0.525164
2004-09-15 0.240 0.512821
2004-08-16 0.240 0.526316
2004-07-15 0.240 0.582524
2004-06-15 0.230 0.562347
2004-05-13 0.230 0.577599
2004-04-15 0.230 0.530443
2004-03-16 0.220 0.489106
2004-02-11 0.220 0.481190
2004-01-14 0.220 0.479721
2003-12-16 0.220 0.500227
2003-11-13 0.220 0.516190
2003-10-16 0.220 0.543210
2003-09-26 0.660 1.724138
2003-06-26 0.580 1.415325
2003-03-27 0.500 1.538462
2002-12-27 0.460 1.428571
2002-09-26 0.420 1.236021
Additional Data
dividendYield 9.45
exDividendDate 2026-09-21
trailingAnnualDividendRate 1.845
trailingAnnualDividendYield 0.09705418
lastDividendValue 0.15
lastDividendDate 2026-09-21
dividendDate 2026-09-30

Info Dump

Attribute Value
52 Week Change -0.019180894
Address1 1,521 Westbranch Drive
Address2 Suite 100
All Time High 52.9
All Time Low 8.08
Ask 24.32
Ask Size 1
Average Daily Volume10 Day 156,440
Average Daily Volume3 Month 163,720
Average Volume 163,720
Average Volume10Days 156,440
Beta 0.939
Bid 13.54
Bid Size 2
Book Value 21.498
City McLean
Compensation As Of Epoch Date 1,135,987,200
Country United States
Crypto Tradeable 0
Currency USD
Current Price 18.92
Current Ratio 1.573
Custom Price Alert Confidence HIGH
Date Short Interest 1,790,726,400
Day High 19.09
Day Low 18.885
Debt To Equity 80.997
Display Name Gladstone Capital
Dividend Date 1,790,726,400
Dividend Yield 9.45
Earnings Call Timestamp End 1,795,008,600
Earnings Call Timestamp Start 1,795,008,600
Earnings Growth 0.688
Earnings Quarterly Growth 0.782
Earnings Timestamp 1,794,945,600
Earnings Timestamp End 1,794,945,600
Earnings Timestamp Start 1,794,945,600
Ebitda Margins 0.0
Enterprise To Revenue 9.097
Enterprise Value 900,016,896
Eps Current Year 1.972
Eps Forward 1.97
Eps Trailing Twelve Months 2.13
Esg Populated 0
Ex Dividend Date 1,789,948,800
Exchange NMS
Exchange Data Delayed By 15
Exchange Timezone Name America/New_York
Exchange Timezone Short Name EDT
Fax 703 287 5901
Fifty Day Average 19.49
Fifty Day Average Change -0.5699997
Fifty Day Average Change Percent -0.029245751
Fifty Two Week Change Percent -1.9180894
Fifty Two Week High 21.73
Fifty Two Week High Change -2.8099995
Fifty Two Week High Change Percent -0.12931429
Fifty Two Week Low 16.54
Fifty Two Week Low Change 2.3799992
Fifty Two Week Low Change Percent 0.14389354
Fifty Two Week Range 16.54 - 21.73
Financial Currency USD
First Trade Date Milliseconds 1,028,295,000,000
Five Year Avg Dividend Yield 8.27
Forward Eps 1.97
Forward P E 9.604061
Free Cashflow 29,078,250
Full Exchange Name NasdaqGS
Fullday Change -0.09000015
Fullday Change Percent -0.47343582
Fullday Price 18.92
Gmt Off Set Milliseconds -14,400,000
Gross Margins 1.0
Gross Profits 98,934,000
Has Pre Post Market Data 1
Held Percent Insiders 0.0014599999
Held Percent Institutions 0.13874
Implied Shares Outstanding 22,593,069
Industry Asset Management
Industry Disp Asset Management
Industry Key asset-management
Is Earnings Date Estimate 0
Language en-US
Last Dividend Date 1,789,948,800
Last Dividend Value 0.15
Last Fiscal Year End 1,759,190,400
Last Split Date 1,712,275,200
Last Split Factor 1:2
Long Business Summary Gladstone Capital Corporation is a business development company specializing in private equity and venture capital investments with a focus on 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 investments in the form of common stock, preferred stock, limited liability company interests, or warrants. The fund also makes private equity investments in acquisitions, buyouts and recapitalizations, and refinancing existing debts. It targets small and medium-sized companies in United States. It is industry agnostic and seeks to invest in companies engaged in the business services, movies and entertainment, broadcasting and publishing, automobiles and components, food, beverage and tobacco, light and specialty manufacturing, niche industrial products and services, commercial services and supplies, specialty consumer products and services, construction machinery and heavy transportation equipment, energy services, agricultural and farm machinery, transportation and logistics, healthcare and education services, specialty chemicals, media and communications and aerospace and defense. The fund seeks to invest in debt between $8 million and $40 million in companies that have between $20 million and $150 million in sales and EBITDA between $3 million and $25 million. It prefers to acquire minority stakes. It seeks to exit its investments through strategic acquisitions by other industry participants or financial buyers, initial public offerings of common stock, or other capital market transactions.
Long Name Gladstone Capital Corporation
Market us_market
Market Cap 427,460,864
Market State PREPRE
Max Age 86,400
Message Board Id finmb_1187230
Most Recent Quarter 1,782,777,600
Net Income To Common 48,154,000
Next Fiscal Year End 1,790,726,400
Non Diluted Market Cap 437,627,746
Number Of Analyst Opinions 3
Open 18.9
Operating Cashflow -150,756,992
Operating Margins 0.74342
Payout Ratio 0.86620003
Peg Ratio 2.31
Phone 703 287 5800
Post Market Change 0.0
Post Market Change Percent 0.0
Post Market Price 18.92
Post Market Time 1,792,008,031
Previous Close 19.01
Price Eps Current Year 9.59432
Price Hint 2
Price To Book 0.8800819
Price To Sales Trailing12 Months 4.320667
Profit Margins 0.48673
Quick Ratio 1.282
Quote Source Name Nasdaq Real Time Price
Quote Type EQUITY
Recommendation Key none
Region US
Regular Market Change -0.0900002
Regular Market Change Percent -0.473436
Regular Market Day High 19.09
Regular Market Day Low 18.885
Regular Market Day Range 18.885 - 19.09
Regular Market Open 18.9
Regular Market Previous Close 19.01
Regular Market Price 18.92
Regular Market Time 1,792,008,001
Regular Market Volume 154,960
Return On Assets 0.051659998
Return On Equity 0.09445
Revenue Growth 0.131
Revenue Per Share 4.385
Sand P52 Week Change 0.1570785
Sector Financial Services
Sector Disp Financial Services
Sector Key financial-services
Shares Outstanding 22,593,069
Shares Percent Shares Out 0.045900002
Shares Short 1,037,084
Shares Short Previous Month Date 1,788,134,400
Shares Short Prior Month 922,697
Short Name Gladstone Capital Corporation
Short Percent Of Float 0.0477
Short Ratio 6.31
Source Interval 15
State VA
Symbol GLAD
Target High Price 22.0
Target Low Price 22.0
Target Mean Price 22.0
Target Median Price 22.0
Total Cash 2,350,000
Total Cash Per Share 0.104
Total Debt 429,883,008
Total Revenue 98,934,000
Tradeable 0
Trailing Annual Dividend Rate 1.845
Trailing Annual Dividend Yield 0.09705418
Trailing Eps 2.13
Trailing P E 8.882628
Trailing Peg Ratio None
Triggerable 1
Two Hundred Day Average 19.2116
Two Hundred Day Average Change -0.29159927
Two Hundred Day Average Change Percent -0.015178292
Type Disp Equity
Volume 154,960
Website https://www.gladstonecapital.com
Zip 22,102