Gladstone Commercial Corporation
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $19.3M | $24.0M | $5.0M | $10.8M | $10.9M | $14.9M | $9.6M | $12.3M |
| Depreciation & Amortization | $58.2M | $55.8M | $57.9M | $60.2M | $59.1M | $55.4M | $52.0M | $47.6M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | $16.0M | $16.3M | $16.7M | $19.1M | $20.7M | $19.4M | $19.2M | $17.7M |
| Stock-Based Compensation | — | — | — | — | — | — | — | — |
| Net Cash from Operating Activities | $88.2M | $57.0M | $60.4M | $69.2M | $70.1M | $65.5M | $60.2M | $55.6M |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | — | — | — | — | — | — |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-221.4M | $-1.7M | $1.1M | $-82.5M | $-94.8M | $-100.3M | $-132.0M | $-34.4M |
| Financing Activities | ||||||||
| Dividends Paid | $68.2M | $62.8M | $60.6M | $71.1M | $67.6M | $63.8M | $58.9M | $54.6M |
| Stock Repurchases | $0 | $0 | $998.0K | $0 | — | $0 | $0 | $34.0K |
| Net Cash from Financing Activities | $134.7M | $-56.3M | $-61.4M | $16.2M | $21.8M | $39.4M | $74.2M | $-21.2M |
| Net Change in Cash | $1.5M | $-1.1M | $143.0K | $2.8M | $-2.9M | $4.6M | $2.4M | $2.0K |
| Free Cash Flow | — | — | — | — | — | — | — | — |