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Gladstone Commercial Corporation Balance Sheet 2025-2011 | GOOD
Brief overview of Gladstone Commercial Corporation's financial position
The review uses the five latest available annual reports between 2021 and 2025.
The asset base gained +9.1%, from $1.1 billion to $1.2 billion; average annual growth of 2.2% remained moderate.
Liability growth of +17.5% exceeded asset growth of +9.1%, increasing reliance on outside funding.
Equity covers only 13.8% of assets versus 17.6% initially. The loss-absorbing cushion is limited.
Each unit of equity supports 4.85x of net debt. This elevated load requires dependable cash generation.
The cash reserve occupies 0.9% of the balance sheet, previously 0.7%. It is one marker of short-term resilience.
What the balance sheet shows
Gladstone Commercial Corporation's balance sheet looks stretched: reliance on liabilities and a limited capital cushion increase sensitivity to weaker results.
Annual Balance Sheet Gladstone Commercial Corporation
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
833 M | 682 M | 727 M | 738 M | 700 M | 599 M | 620 M | 559 M | 536 M | 505 M | 526 M | 494 M | 438 M | 379 M | 301 M |
Long Term Debt |
843 M | 693 M | 739 M | 749 M | 708 M | 615 M | 575 M | 516 M | 522 M | 470 M | 486 M | 459 M | 423 M | 359 M | 304 M |
Total Non Current Liabilities |
- | - | - | - | - | - | 768 M | 629 M | 631 M | 564 M | 545 M | 518 M | 479 M | 412 M | 308 M |
Total Liabilities |
905 M | 753 M | 809 M | 827 M | 771 M | 882 M | 828 M | 684 M | 662 M | 612 M | 599 M | 570 M | 507 M | 442 M | 318 M |
Retained Earnings |
- | - | - | - | - | - | -361 M | -310 M | -268 M | -224 M | -185 M | -152 M | -115 M | -92.7 M | -75.8 M |
Total Assets |
1.25 B | 1.09 B | 1.13 B | 1.2 B | 1.14 B | 1.1 B | 1.04 B | 939 M | 928 M | 852 M | 833 M | 788 M | 691 M | 565 M | 453 M |
Cash and Cash Equivalents |
10.8 M | 11 M | 12 M | 11.7 M | 7.96 M | 16.1 M | 6.85 M | 6.59 M | 6.68 M | 4.66 M | 5.15 M | 8.6 M | 8.55 M | 5.55 M | 3.33 M |
Book Value |
342 M | 341 M | 324 M | 376 M | 372 M | 216 M | 211 M | 254 M | 267 M | 240 M | 234 M | 218 M | 183 M | 122 M | 135 M |
Total Shareholders Equity |
172 M | 171 M | 154 M | 206 M | 201 M | 214 M | 208 M | 250 M | 267 M | 240 M | 234 M | 218 M | 183 M | 122 M | 135 M |
All numbers in USD currency
Quarterly Balance Sheet Gladstone Commercial Corporation
| 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
836 M | 843 M | 843 M | 794 M | 741 M | 693 M | 693 M | 723 M | 719 M | 739 M | 749 M | 754 M | 748 M | 749 M | 742 M | - | 705 M | 708 M | 674 M | 660 M | 663 M | 669 M | 669 M | 669 M | 669 M | 627 M | 627 M | 627 M | 627 M | 566 M | 566 M | 566 M | 566 M | 543 M | 543 M | 543 M | 543 M | 509 M | 509 M | 509 M | 509 M | - | - | - | 510 M | 503 M | 506 M | 482 M | 451 M | 447 M | 447 M | 447 M | 447 M | 384 M | 384 M | 384 M | 384 M | 304 M | 304 M | 304 M | - |
Total Liabilities |
897 M | 905 M | 910 M | 863 M | 807 M | 753 M | 757 M | 790 M | 787 M | 809 M | 821 M | 828 M | 826 M | 827 M | 822 M | - | 770 M | 771 M | 733 M | 714 M | 716 M | 723 M | 723 M | 723 M | 723 M | 676 M | 676 M | 676 M | 676 M | 599 M | 599 M | 599 M | 599 M | 578 M | 578 M | 578 M | 578 M | 541 M | 541 M | 541 M | 541 M | 593 M | 593 M | 593 M | 593 M | 570 M | 570 M | 570 M | 570 M | 507 M | 507 M | 507 M | 507 M | 442 M | 442 M | 442 M | 442 M | 318 M | 318 M | 318 M | 318 M |
Total Assets |
1.23 B | 1.25 B | 1.27 B | 1.21 B | 1.16 B | 1.09 B | 1.1 B | 1.11 B | 1.11 B | 1.13 B | 1.17 B | 1.18 B | 1.19 B | 1.2 B | 1.21 B | 1.19 B | 1.15 B | 1.14 B | 1.1 B | 1.09 B | 1.09 B | 1.1 B | 1.1 B | 1.1 B | 1.1 B | 1.04 B | 1.04 B | 1.04 B | 1.04 B | 939 M | 939 M | 939 M | 939 M | 928 M | 928 M | 928 M | 928 M | 852 M | 852 M | 852 M | 852 M | 827 M | 827 M | 827 M | 827 M | 788 M | 788 M | 788 M | 788 M | 691 M | 691 M | 691 M | 691 M | 565 M | 565 M | 565 M | 565 M | 453 M | 453 M | 453 M | 453 M |
Cash and Cash Equivalents |
7.96 M | 10.8 M | 18.4 M | 11.7 M | 10.4 M | 11 M | 10.5 M | 10.4 M | 10.5 M | 12 M | 18.3 M | 16.5 M | 14.3 M | 11.7 M | 13.5 M | 10.7 M | 9.58 M | 7.96 M | 10.2 M | 14.6 M | 9.87 M | 11 M | 11 M | 11 M | 11 M | 6.85 M | 6.85 M | 6.85 M | 6.85 M | 6.59 M | 6.59 M | 6.59 M | 6.59 M | 6.68 M | 6.68 M | 6.68 M | 6.68 M | 4.66 M | 4.66 M | 4.66 M | 4.66 M | 5.15 M | 5.15 M | 5.15 M | 5.15 M | 8.6 M | 8.6 M | 8.6 M | 8.6 M | 8.55 M | 8.55 M | 8.55 M | 8.55 M | 5.55 M | 5.55 M | 5.55 M | 5.55 M | 3.33 M | 3.33 M | 3.33 M | 3.33 M |
Book Value |
334 M | 342 M | 355 M | 347 M | 353 M | 341 M | 339 M | 316 M | 318 M | 324 M | 347 M | 354 M | 363 M | 376 M | 388 M | 1.19 B | 384 M | 373 M | 371 M | 375 M | 372 M | 375 M | 375 M | 375 M | 375 M | 363 M | 363 M | 363 M | 363 M | 340 M | 340 M | 340 M | 340 M | 350 M | 350 M | 350 M | 350 M | 311 M | 311 M | 311 M | 311 M | 234 M | 234 M | 234 M | 234 M | 218 M | 218 M | 218 M | 218 M | 183 M | 183 M | 183 M | 183 M | 122 M | 122 M | 122 M | 122 M | 135 M | 135 M | 135 M | 135 M |
Total Shareholders Equity |
163 M | 172 M | 185 M | 177 M | 183 M | 171 M | 169 M | 146 M | 148 M | 153 M | 177 M | 184 M | 193 M | 204 M | 217 M | 212 M | 213 M | 201 M | 200 M | 203 M | 212 M | 213 M | 213 M | 213 M | 213 M | 208 M | 208 M | 208 M | 208 M | 250 M | 250 M | 250 M | 250 M | 267 M | 267 M | 267 M | 267 M | 240 M | 240 M | 240 M | 240 M | 234 M | 234 M | 234 M | 234 M | 218 M | 218 M | 218 M | 218 M | 183 M | 183 M | 183 M | 183 M | 122 M | 122 M | 122 M | 122 M | 135 M | 135 M | 135 M | 135 M |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Gladstone Commercial Corporation, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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|---|---|---|---|---|---|
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|
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|
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|
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|
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|
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|
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NexPoint Real Estate Finance
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|
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VICI Properties
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