Gladstone Investment (GAIN) Cash Flow: Operating & Free Cash Flow

Gladstone Investment Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Gladstone Investment Corporation (GAIN) - Annual data in millions USD
Breakdown	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017
Operating Activities
Net Income	184.75	65.32	85.31	35.55	102.32	42.45	-7.23	81.59	60.69	44.76
Depreciation & Amortization	3.88	0.00	0.00	12.22	0.00	0.00	-51.08	0.50	0.50	0.08
Change in Working Capital	38.54	5.35	9.68	2.27	10.35	-6.00	-17.19	33.12	5.32	0.85
Change in Accounts Receivable	-1.31	0.76	-4.59	2.51	-0.13	-0.38	-0.11	0.75	-1.77	-0.85
Change in Inventory	0.00	0.00	0.00	-0.24	0.00	0.00	0.00	0.00	0.00	0.00
Change in Accounts Payable	38.06	0.56	13.49	-0.01	15.47	7.92	0.33	0.00	0.00	0.00
Change in Other Working Capital	3.68	4.03	2.31	0.01	2.58	-13.54	-17.41	32.37	7.09	1.70
Other Operating Activities	3.68	-21.59	2.31	-54.54	2.58	8.35	110.82	-21.59	-96.24	-13.08
Net Cash from Operating Activities	-101.61	16.31	-69.94	-4.50	36.60	44.81	35.31	93.62	-29.73	32.60
Investing Activities
Purchases of Investments	-173.62	-221.22	-183.92	-133.76	-92.74	-95.27	-145.45	0.00	0.00	0.00
Sales/Maturities of Investments	29.90	123.60	28.00	35.53	51.40	20.73	-89.18	0.00	0.00	0.00
Other Investing Activities	0.00	0.00	0.00	0.00	0.00	0.00	145.45	0.00	0.00	0.00
Net Cash from Investing Activities	-143.72	-97.62	-155.92	-98.22	-41.34	-74.54	-89.18	0.00	0.00	0.00
Financing Activities
Debt Repayment	-346.25	54.57	-210.50	35.20	-134.10	95.41	-4.01	-54.00	37.30	-25.30
Common Stock Issued	41.64	2.03	43.90	5.49	0.00	21.02	3.13	1.87	22.49	0.00
Common Stock Repurchased	0.00	0.00	0.00	0.00	-94.37	-57.50	0.00	0.00	0.00	0.00
Dividends Paid	-57.16	-60.95	-76.06	-47.05	-38.85	-30.86	-33.92	-30.52	-28.93	-22.70
Other Financing Activities	-0.33	-0.76	-1.91	-0.39	-3.43	0.00	-0.06	-11.33	-1.26	13.91
Net Cash from Financing Activities	88.84	-4.37	69.91	-6.74	-24.50	28.07	-34.85	-93.98	29.60	-34.09
Summary
Effect of Forex Changes on Cash	0.00	0.00	0.00	98.22	0.00	0.00	89.18	0.00	0.00	0.00
Net Change in Cash	-12.77	11.93	-0.03	-11.25	12.10	-1.66	0.46	-0.36	-0.13	-1.49
Cash at Beginning of Period	15.15	3.22	3.25	14.50	2.40	4.06	3.61	3.97	4.10	5.59
Cash at End of Period	2.39	15.15	3.22	3.25	14.50	2.40	4.06	3.61	3.97	4.10
Free Cash Flow	-101.61	113.93	-69.94	-4.50	36.60	44.81	35.31	93.62	-29.73	32.60
Supplemental Disclosures
Interest Paid	-	25.43	21.98	14.10	9.84	3.17	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Gladstone Investment Cash Flow

What is Gladstone Investment's free cash flow?

Gladstone Investment had negative free cash flow of $101.61M in fiscal 2026 (fiscal year ended Mar 31, 2026).

Does Gladstone Investment pay dividends or buy back shares?

Yes. In fiscal 2026 Gladstone Investment returned $57.16M in dividends to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition