Gladstone Commercial Corporation (LON:0IVQ)

Gladstone Commercial Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	28.63	24	4.99	10.81	10.94	14.94
Depreciation & Amortization	47.84	49.11	50.55	56.07	56.02	53.64
Other Amortization	1.74	1.67	1.69	3.53	1.64	1.59
Gain (Loss) on Sale of Assets	-14.37	-14.23	-7.74	-10.05	1.15	-8.1
Asset Writedown	6.34	6.82	19.3	12.09	-	3.62
Change in Accounts Receivable	-4.49	-5.54	-3.16	-1.33	-2.9	-1.9
Change in Accounts Payable	2.96	-0.04	-0.01	1.6	2.83	-1.68
Change in Other Net Operating Assets	-1.02	0.28	-0.04	-1.64	2.49	4.74
Other Operating Activities	14.23	-5.18	-5.21	-1.9	-2.03	-1.36
Operating Cash Flow	81.86	56.95	60.37	69.18	70.13	65.49
Operating Cash Flow Growth	40.40%	-5.66%	-12.73%	-1.35%	7.07%	8.80%
Acquisition of Real Estate Assets	-184.49	-40.15	-36.69	-119.79	-105.5	-134.29
Sale of Real Estate Assets	21.43	37.64	37.01	39.5	8.84	35.83
Net Sale / Acq. of Real Estate Assets	-163.06	-2.52	0.32	-80.29	-96.66	-98.46
Cash Acquisition	-1.45	-	-	-	-	-0.3
Other Investing Activities	1.14	0.79	0.82	-2.22	1.88	-1.5
Investing Cash Flow	-163.36	-1.73	1.14	-82.51	-94.78	-100.26
Long-Term Debt Issued	-	173.64	132.6	324.66	156.4	232.98
Long-Term Debt Repaid	-	-218.81	-141.18	-280.79	-118.72	-191.86
Net Debt Issued (Repaid)	72	-45.17	-8.58	43.87	37.68	41.12
Issuance of Common Stock	82.98	55.43	10.23	49.68	144.68	63.61
Repurchase of Common Stock	-	-	-1.05	-	-	-
Preferred Share Repurchases	-3.78	-1.71	-0.5	-0.36	-87.74	-
Common & Preferred Dividends Paid	-65.76	-62.79	-60.62	-71.09	-67.11	-63
Total Dividends Paid	-65.76	-62.79	-60.62	-71.09	-67.11	-63
Other Financing Activities	-2.46	-2.04	-0.83	-5.94	-5.75	-2.37
Net Cash Flow	1.48	-1.06	0.14	2.81	-2.9	4.59
Cash Interest Paid	35.67	35.67	33.14	27.84	23.39	26.1
Levered Free Cash Flow	61.88	63.38	38.16	66.83	73.81	52.5
Unlevered Free Cash Flow	83.67	85.09	59.8	83.59	88.98	67.66
Change in Working Capital	-2.55	-5.3	-3.21	-1.37	2.43	1.16

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.