Financials Gladstone Commercial Corporation

Equities

GOOD

US3765361080

Diversified REITs

Market Closed - Nasdaq Other stock markets 04:00:00 2024-12-06 pm EST			5-day change	1st Jan Change
16.92 ^USD	-1.63%		-3.92%	+27.79%

Dec. 04	Gladstone Commercial Corporation Announces Resignation of Paul W. Adelgren as Board of Director, Effective December 15, 2024	CI
Nov. 18	Gladstone Commercial Acquires Missouri Industrial Manufacturing, Distribution, Warehouse Facility	MT

Projected Income Statement: Gladstone Commercial Corporation

income-statement-evolution-chart GLADSTONE-COMMERCIAL-CORP

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	114.4	133.2	137.7	149	147.6	150.2	152.7	159
Change	-	16.4%	3.41%	8.2%	-0.94%	1.78%	1.66%	4.1%
EBITDA ¹	88.01	92.34	95.2	92.89	108.6	110.1	111.6	119.5
Change	-	4.92%	3.09%	-2.43%	16.95%	1.37%	1.36%	7.09%
EBIT ¹	34.16	33.3	34.89	31.22	31.48	46.34	40.56	-
Change	-	-2.51%	4.78%	-10.51%	0.83%	47.21%	-12.47%	-100%
Interest Paid ¹	-28.28	-26.8	-26.89	-32.46	-	-37.48	-35.07	-39.21
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Net income ¹	-4.76	3.149	-4.554	-3.062	-7.801	8.972	6.692	13.77
Change	-	-	-	-32.76%	154.77%	-	-25.41%	105.8%
Announcement Date	2/12/20	2/16/21	2/15/22	2/22/23	2/21/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3
Net sales ¹	29.39	33.62	33.52	33.14	32.87	34.68	33.37	34.33	35.31	35.53	36.4	39.83	37.22	36.55	38.66	36.46	35.91	35.72	37.06	39.24	38.2	37.59	37.99	38.58	38.56	41.12	41.48	41.84
Change	-	14.4%	-0.28%	-1.14%	-0.83%	5.51%	-3.77%	2.89%	2.83%	0.63%	2.44%	9.44%	-6.57%	-1.78%	5.76%	-5.68%	-1.52%	-0.52%	3.74%	5.88%	-2.63%	-1.62%	1.06%	1.55%	-0.04%	6.64%	0.88%	0.87%
EBITDA ¹	22.16	23.62	21.85	23.07	22.27	24.48	22.56	23.6	24.54	24.56	23.79	18.15	26.38	26.59	28.7	26.12	27.22	25.73	27.1	28.18	28.07	27.36	27.72	28.27	28.27	30.25	30.51	30.78
Change	-	6.58%	-7.49%	5.58%	-3.47%	9.92%	-7.86%	4.6%	4.02%	0.07%	-3.13%	-23.72%	45.36%	0.8%	7.92%	-9.01%	4.23%	-5.47%	5.31%	4.01%	-0.41%	-2.54%	1.33%	1.97%	0.02%	6.98%	0.87%	0.87%
EBIT ¹	6.924	9.527	7.672	7.888	8.21	7.773	8.368	8.836	9.895	9.873	8.574	2.386	10.39	11.12	4.942	6.877	7.772	12.41	11.08	14.84	12.15	9.683	10.01	10.58	10.29	-	-	-
Change	-	37.59%	-19.47%	2.82%	4.08%	-5.32%	7.65%	5.59%	11.99%	-0.22%	-13.16%	-72.17%	335.5%	7.02%	-55.56%	39.15%	13.01%	59.62%	-10.66%	33.9%	-18.12%	-20.32%	3.39%	5.66%	-2.71%	-100%	-	-
Charge d'intérêts ¹	-6.873	-7.252	-6.716	-6.444	-6.392	-7.164	-6.486	-6.688	-6.549	-6.586	-7.121	-9.107	-9.644	-8.828	-9.081	-9.936	-	-9.497	-9.463	-9.299	-9.212	-8.773	-8.736	-8.754	-8.794	-10.19	-10.3	-10.41
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income ¹	-	-0.619	-1.899	-0.128	5.795	-2.955	-3.032	1.439	-0.007	0.322	-1.499	-0.6	-1.284	-0.7	-7.685	-1.416	1.339	0.304	-1.614	8.467	1.815	1.369	1.616	1.81	1.898	3.366	3.767	4.18
Change	-	-	206.79%	-93.26%	-	-	2.61%	-	-	-	-	-59.97%	114%	-45.48%	997.86%	-81.57%	-	-77.3%	-	-	-78.56%	-24.59%	18.03%	12.02%	4.89%	77.32%	11.91%	10.96%
Announcement Date	2/12/20	4/28/20	7/27/20	11/5/20	2/16/21	5/10/21	8/9/21	11/1/21	2/15/22	5/4/22	8/1/22	11/7/22	2/22/23	5/3/23	8/8/23	11/6/23	2/21/24	5/6/24	8/6/24	11/4/24	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Gladstone Commercial Corporation

balance-sheet-analysis-chart GLADSTONE-COMMERCIAL-CORP

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Announcement Date	2/12/20	2/16/21	2/15/22	2/22/23	2/21/24	-	-	-

Estimates

Cash Flow Forecast: Gladstone Commercial Corporation

Fiscal Period: December	2019	2020	2021	2022	2024	2025	2026
CAPEX ¹	7.57	6.36	5.348	6.822	9.031	12.57	-
Change	-	-15.98%	-15.91%	27.56%	-	39.17%	-100%
Free Cash Flow (FCF) ¹	52.62	59.13	-	62.36	-1,652	113.4	115.5
Change	-	12.37%	-	-	-	-106.86%	1.82%
Announcement Date	2/12/20	2/16/21	2/15/22	2/22/23	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Gladstone Commercial Corporation

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	-	76.94%	69.35%	69.14%	62.35%	73.61%	73.31%	73.1%	75.2%
EBIT Margin (%)	-	29.86%	25.01%	25.34%	20.96%	21.33%	30.85%	26.56%	-
EBT Margin (%)	-	-	-	-	-	-	-	-	-
Net margin (%)	-	-4.16%	2.36%	-3.31%	-2.06%	-5.29%	5.97%	4.38%	8.66%
FCF margin (%)	-	46.01%	44.41%	-	41.85%	-	-1,100.03%	74.26%	72.63%
FCF / Net Income (%)	-	-1,105.55%	1,877.87%	-	-2,036.41%	-	-18,417.4%	1,694.51%	838.35%
Profitability
ROA	2.39%	2.27%	2.16%	1.95%	2.31%	2.72%	-	-	-
ROE	3.57%	2.71%	4.06%	2.6%	2.48%	1.41%	-	-	-
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	-	6.62%	4.78%	3.88%	4.58%	-	6.01%	8.23%	-
CAPEX / EBITDA (%)	-	8.6%	6.89%	5.62%	7.34%	-	8.2%	11.26%	-
CAPEX / FCF (%)	-	14.39%	10.76%	-	10.94%	-	-0.55%	11.08%	-
Items per share
Cash flow per share ¹	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-
Dividend per Share ¹	-	1.5	1.502	1.502	1.505	1.2	1.2	1.2	1.2
Change	-	-	0.12%	0.03%	0.17%	-20.26%	0%	0%	0%
Book Value Per Share ¹	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-
EPS ¹	-	-0.16	0.09	-0.12	-0.08	-0.19	0.29	0.2225	0.29
Change	-	-	-156.25%	-233.33%	-33.33%	137.5%	-252.63%	-23.28%	30.34%
Nbr of stocks (in thousands)	-	31,229	34,268	37,268	39,607	39,949	43,919	43,919	43,919
Announcement Date	-	2/12/20	2/16/21	2/15/22	2/22/23	2/21/24	-	-	-