Gladstone Investment Corporation Overview
Pro stress-test →Gladstone Investment Corporation (NASDAQ: GAIN) is a business development company focused on acquiring mature, lower middle market companies with EBITDA between $4 and $15 million with attractive fundamentals and strong management. The company provides secured debt and equity investments to small and mid-sized US businesses with diversified industry exposure.
Strategic Profile
Pro stress-test →The company seeks minority equity ownership and prefers to hold a board seat in its portfolio companies while also preferring to take majority stake, typically holding investments for seven years and exiting via sale or recapitalization, IPO, or sale to third party. Gladstone Investment trades at an 8% premium with 100% dividend coverage, while the sector median P/NAV is 0.90x and average base dividend coverage is 102%.
Competitive Landscape
Pro stress-test →Gladstone operates in the BDC sector competing with platforms like Crescent Capital BDC, Sixth Street Specialty Lending, and PennantPark Floating Rate Capital. The company trades at 8% premium to NAV with 100% dividend coverage versus sector median P/NAV of 0.90x, positioning it as a premium offering in the lower middle-market debt-equity investment space.
Industry Context
Gladstone Investment Corporation operates in Business Development Company / Private Equity / Lower Middle Market Lending.
Key facts
Headquarters: McLean, VA · Revenue: $93.66M (FY 2025) · Market cap: $557M