Gladstone Commercial Corp. (GOODO) intrinsic value & 10-year financials
Gladstone Commercial Corp. (GOODO) has a Graham intrinsic value of $4.65 per share. Over the last 10 fiscal years revenue grew 7.2% a year to $161.3M, with an average return on invested capital of 1.3%.
- Graham intrinsic value
- $4.65
- Revenue (FY2025)
- $161.3M
- Revenue growth (10-yr CAGR)
- 7.2%
- ROIC (10-yr avg)
- 1.3%
- Free cash flow (FY2025)
- —
GOODO 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $161.3M | $19.3M | $0.14 | — | — | 2.1% |
| FY2024 | $149.4M | $24.0M | $0.27 | — | — | 2.8% |
| FY2023 | $147.6M | $5.0M | -$0.19 | — | — | 0.5% |
| FY2022 | $149.0M | $9.3M | -$0.08 | — | — | 1.0% |
| FY2021 | $137.7M | $9.8M | -$0.12 | — | — | 1.1% |
| FY2020 | $133.2M | $14.9M | $0.09 | — | — | 1.8% |
| FY2019 | $114.4M | $9.6M | -$0.16 | — | — | 1.2% |
| FY2018 | $106.8M | $12.3M | $0.03 | — | — | 1.5% |
| FY2017 | $94.8M | $5.9M | -$0.19 | — | — | 0.8% |
| FY2016 | $86.4M | $4.0M | -$0.16 | — | — | 0.5% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
GLADSTONE COMMERCIAL CORP has demonstrated mature, steady growth, with revenue compounding at 7.2% annually over the past decade.
GLADSTONE COMMERCIAL CORP has historically struggled to out-earn its cost of capital, averaging just 1.3% ROIC.
Over the decade, GLADSTONE COMMERCIAL CORP shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, GLADSTONE COMMERCIAL CORP is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $4.65 per share.