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Gladstone Commercial Corp (GOODN) stock analysis

GOODNNasdaqLessors of Real Property, NECFiscal year ends December 31Also trades as GOOD, GOODO
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026Score 10/301% below fair value
$19.63−0.03 (-0.15%)

Close on Oct 30, 2026Market cap $950.24MP/E 75.5Yield 6.11%

StockData Score

Prices as of Oct 30, 2026How the score works

Value2Growth1Performance4Health0Dividend3

Mixed10 of 30 checks passed

Gladstone Commercial passes 10 of the 30 checks behind our score; 11 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
2/6
Growth
1/6
Past performance
4/6
Financial health
0/6
Dividend
3/6

What stands out

  • Trading below fair value

    The share price of $11.43 is below our fair value estimate of $11.50.

  • Earnings grew over 5 years

    Net income grew 5.2% a year on average over the last five fiscal years.

  • P/E below its 5-year median

    Gladstone Commercial's P/E of 44.0 is below its own 5-year median of 61.4.

  • Growing faster than the industry

    Revenue grew 10.8% over the last twelve months; the Real Estate median is 2.2%.

What to watch

  • Margin of safety under 20%

    The price is 0.6% below fair value, less than the 20% cushion we look for.

  • Return on equity under 15%

    Return on equity was 14.8% over the last twelve months and averaged 7.9% over five years; we look for 15% on both.

  • Revenue growing under 10% a year

    Revenue grew 2.7% a year over the last three fiscal years, short of the 10% we look for.

  • Earnings growth not accelerating

    Net income grew -13.6% over the last twelve months, against a 5-year average of 5.2% a year.

Valuation2/6

  • P/E below its 5-year median

    Gladstone Commercial's P/E of 44.0 is below its own 5-year median of 61.4.

  • P/E above the industry

    Gladstone Commercial's P/E of 44.0 is above the Real Estate median of 21.8.

  • EV/EBITDA against its history

    Needs positive EBITDA and price history.

  • P/B above the industry

    Gladstone Commercial's price-to-book of 3.52 is above the Real Estate median of 1.27.

  • Trading below fair value

    The share price of $11.43 is below our fair value estimate of $11.50.

  • Margin of safety under 20%

    The price is 0.6% below fair value, less than the 20% cushion we look for.

Growth1/6

  • Revenue growing under 10% a year

    Revenue grew 2.7% a year over the last three fiscal years, short of the 10% we look for.

  • EPS growth over 3 years

    Needs positive EPS three years ago and today.

  • Earnings growth not accelerating

    Net income grew -13.6% over the last twelve months, against a 5-year average of 5.2% a year.

  • Growing faster than the industry

    Revenue grew 10.8% over the last twelve months; the Real Estate median is 2.2%.

  • Company guidance

    No outlook found in earnings releases from the last twelve months.

  • Gross margin trend

    This company does not report gross profit.

Past performance4/6

  • Return on equity under 15%

    Return on equity was 14.8% over the last twelve months and averaged 7.9% over five years; we look for 15% on both.

  • Return on invested capital

    Needs operating income and invested capital.

  • Return on equity above the industry

    Gladstone Commercial's return on equity of 14.8% is above the Real Estate median of -2.4%.

  • Earnings grew over 5 years

    Net income grew 5.2% a year on average over the last five fiscal years.

  • Net margin above its 5-year average

    Net margin was 14.5% over the last twelve months, against a 5-year average of 9.3%.

  • Net margin above the industry

    Gladstone Commercial's net margin of 14.5% is above the Real Estate median of -5.4%.

Financial health0/6

  • Debt level

    Needs debt and equity figures.

  • Debt trend

    Needs a balance sheet from five years ago with positive equity.

  • Debt coverage

    Needs operating cash flow.

  • Interest coverage

    Interest expense is not reported separately.

  • Short-term liquidity

    The balance sheet is not split into current and non-current items.

  • Elevated bankruptcy risk

    The Altman Z-score is 0.50; above 3 is the safe zone and below 1.8 the distress zone.

Dividend3/6

  • Pays a dividend

    Gladstone Commercial paid dividends worth 10.5% of the share price over the last twelve months.

  • Yield above Treasuries

    The 10.5% yield is above the 4.4% on a 1-year Treasury.

  • Yield in the top quarter

    The top quarter of US dividend payers yield 4.0% or more; Gladstone Commercial yields 10.5%.

  • Dividend was cut

    The dividend per share fell by more than 10% at least once in the last 10 fiscal years.

  • Not covered by earnings

    Dividends take 282% of net income, leaving little room.

  • Cash-flow cover

    Needs dividends paid and free cash flow.

Scores of similar companies

Fair value

How we estimate it

Our estimate per share

$11.50

The share price is 1% below this estimate.

20%+ below
Near fair value
20%+ above
$11.43Price
MethodMultiple usedOwn 5Y medianIndustry medianValue per shareWeight
P/E41.7×61.4×21.8×$10.8562%
P/B2.4×3.5×1.3×$7.7715%
Earnings power9.0% cost of equity––$15.7423%
Fair value$11.50100%

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

  • P/E at month end
  • Own 5-year median 61.4
  • Real Estate median 21.8

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Medium risk

Average value traded per day
$6.27M
Value traded per 1% price move
$5.65M

Downside

Low risk

Typical loss in a bad month
9.7%
Volatility (annualized)
24%
Sharpe ratio, 1 year
-0.10
Beta to the S&P 500 (5Y)
0.80

Typical bad-month loss, week by week

25%: high

Margins

Share of revenue, fiscal years 2011 to 2025

Net margin

12.0%+0.7 pts over 5 years