Valuation, from the filing
| Public float | $534.16M | Market value of stock held by non-affiliates, as stated on the cover page for 2025-09-30 |
|---|---|---|
| Float per share | $13.41 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / net income | 2.9× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 0.8× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-09-30, not today, and each multiple below it uses the figures for the fiscal year ending 2026-03-31 — the year that filing covered.
Valuation over time
2.9× earnings today, against a median of 6.4× across 4 years on record. Below its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-09-30 | $534.16M | 2.9× | |
| 2024-09-30 | $516.31M | 7.9× | |
| 2023-09-30 | $420.37M | 4.9× | |
| 2022-09-30 | $390.44M | 11.0× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the industry filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| Long-term debt / equity | 0.84x | 13th |
GLADSTONE INVESTMENT CORPORATION\DE (GAIN) reported net income of $184.75M for the fiscal year ended 2026-03-31. This page shows 6 annual periods of income statement, balance sheet and cash flow figures normalized from GLADSTONE INVESTMENT CORPORATION\DE’s SEC filings, each linked to the filing it came from.
Income
| Metric | 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 |
|---|---|---|---|---|---|---|
| Revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Cost of revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross profit | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating income | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Net income | $184.75M | $65.32M | $85.30M | $35.55M | $102.32M | $42.45M |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 38.71M | shares 36.74M | shares 34.47M | shares 33.31M | shares 33.21M | shares 33.18M |
| Pretax income | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Income tax expense | $0 | $0 | $0 | $0 | $0 | $0 |
| Diluted EPS | Unavailable | $0.76 | $0.63 | $1.11 | $0.45 | $0.54 |
| Selling, general & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | Unavailable | $14.30M | $2.46M | $2.68M | $14.19M | Unavailable |
| Total assets | $1.32B | $1.01B | $938.08M | $765.64M | $740.41M | Unavailable |
| Current assets | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total liabilities | $654.62M | $507.32M | $445.37M | $325.90M | $294.58M | Unavailable |
| Current liabilities | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total equity incl. NCI | $668.22M | $499.08M | $492.71M | $439.74M | $445.83M | $382.36M |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Goodwill | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Long-term debt | $564.47M | $455.71M | $398.34M | $292.61M | $261.35M | Unavailable |
| Accounts payable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Cash flow
| Metric | 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$101.61M | $16.31M | -$69.94M | -$4.50M | $36.60M | -$29.73M |
| Capital expenditures | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Investing cash flow | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Financing cash flow | $88.84M | -$4.37M | $69.91M | -$6.74M | -$24.50M | $28.07M |
| Net change in cash | -$12.77M | $11.93M | -$28.00K | -$11.25M | $12.10M | -$1.66M |
| Stock-based compensation | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Common dividends paid | $57.16M | $60.95M | $76.06M | $47.05M | $38.85M | $30.86M |
| Common share repurchases | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Depreciation & amortization | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Derived
| Metric | 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 |
|---|---|---|---|---|---|---|
| Free cash flow | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| FCF margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| SBC / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Current ratio | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Revenue YoY growth | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Net margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Long-term debt / equity | 0.84x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open GAIN in the interactive workspace to inspect any figure back to its filing.
Source filings
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.