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Gladstone Commercial Corp balance sheet

At the end of fiscal 2025, Gladstone Commercial Corp had total assets of $1.25bn, total liabilities of $905m and shareholders' equity of $172m. It held $10.8m in cash against $843m of debt: net debt of $833m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash and equivalents57771181212111110
Total assets8529289391,0401,0981,1431,2031,1331,0941,2471,243
Long-term debt509543566627669708749739693843852
Total debt509543566627669708749739693843852
Total liabilities541578599676723771827809753905915
Shareholders' equity240267250208213201204153171172157
Non-controlling interests and other (assets − liabilities − equity)718390155162172172171170170170
Net debt (negative = net cash)505536559620658700738727682833842
Shares outstanding25m28m29m33m35m37m40m40m44m48m48m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Gladstone Commercial Corp's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Gladstone Commercial Corp.