GOOD GLADSTONE COMMERCIAL CORP

Overview and Growth

Fiscal 2025 results for GLADSTONE COMMERCIAL CORP combined $161.34M of revenue with net income of $19.29M and an operating cash inflow of $88.15M. Revenue of $161.34M sets the scale for evaluating how effectively sales translated into profit and cash during the year. Revenue was 8.0% above fiscal 2024 revenue of $149.39M, marking a year-over-year increase. Diluted earnings per share were $0.14, translating the period’s attributable earnings into the amount reported for each diluted share. Against diluted EPS of $0.27 in fiscal 2024, the current result was 48.1% lower. The diluted weighted-average share count was 46.54M, linking total earnings with the per-share result received by shareholders. Diluted shares moved 11.4% from 41.77M in fiscal 2024, leaving the current share base higher year over year. At period end, total assets were $1.25B, framing the scale of the company’s operating and financing commitments. Revenue equaled 0.13x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

Net income came to $19.29M, completing the progression from revenue through gross and operating profitability to the final reported result. Measured against reported revenue, net income produced a 12.0% margin after operating costs and the remaining recognized items. Return on period-end equity was 11.2%, relating annual net income to the equity capital on the balance sheet. The net-income-to-assets relationship measured 1.5%, showing earnings relative to the full balance sheet. Against $24.00M in fiscal 2024, the current $19.29M bottom line finished below the prior-year result in absolute terms.

Liquidity and Capital Structure

Total assets were $1.25B, supported by $905.00M of liabilities and $171.89M of shareholder equity. Reported cash and equivalents were $10.81M, separating immediately recognizable cash resources from the rest of the current-asset base. The company carried $843.47M of total debt at period end, which frames its leverage and debt-service burden. Against book equity, debt measured 4.91x, placing the company’s financial leverage in clear balance-sheet terms. Debt represented 67.6% of total assets, placing borrowing in the context of the company’s full resource base. Book equity represented 13.8% of total assets, quantifying the balance-sheet share supported by shareholder capital. The liabilities-to-assets relationship was 72.6%, placing reported obligations against the full positive asset balance. The cash-to-assets relationship was 0.9%, comparing reported cash and equivalents with the full positive asset balance. Total assets were 13.9% higher than fiscal 2024 assets of $1.09B, measuring the company’s own balance-sheet change. Reported equity changed 0.3% from $171.30M in fiscal 2024, placing the current capital base higher year over year. The reported cash balance changed 1.3% from $10.96M in fiscal 2024, ending lower year over year.

Cash Flow and Earnings Quality

The company reported $88.15M of operating cash flow, a cash inflow that shows the cash generated by operations. Against net income, operating cash flow measured 4.57x, showing the relationship between accrual earnings and operating cash. Operating cash flow of $88.15M finished above fiscal 2024 operating cash flow of $56.95M, showing the year-over-year direction of cash generation.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.