Annual Income Statements for Runway Growth Finance
This table shows Runway Growth Finance's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Runway Growth Finance
This table shows Runway Growth Finance's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Income / (Loss) Attributable to Common Shareholders |
|
12 |
18 |
12 |
22 |
15 |
-4.79 |
12 |
8.29 |
25 |
28 |
Consolidated Net Income / (Loss) |
|
12 |
18 |
12 |
22 |
15 |
-4.79 |
12 |
15 |
16 |
31 |
Net Income / (Loss) Continuing Operations |
|
12 |
18 |
12 |
22 |
15 |
-4.79 |
12 |
15 |
16 |
31 |
Total Pre-Tax Income |
|
12 |
3.20 |
12 |
22 |
15 |
-4.79 |
12 |
15 |
16 |
31 |
Total Revenue |
|
24 |
37 |
33 |
45 |
37 |
16 |
33 |
34 |
37 |
50 |
Net Interest Income / (Expense) |
|
27 |
36 |
39 |
41 |
42 |
38 |
39 |
34 |
36 |
33 |
Total Interest Income |
|
27 |
36 |
39 |
41 |
42 |
38 |
39 |
34 |
36 |
33 |
Investment Securities Interest Income |
|
27 |
40 |
39 |
41 |
42 |
38 |
39 |
34 |
36 |
33 |
Total Non-Interest Income |
|
-2.62 |
0.45 |
-6.22 |
3.38 |
-5.05 |
-22 |
-5.87 |
0.33 |
1.03 |
17 |
Other Service Charges |
|
0.15 |
0.32 |
0.05 |
0.74 |
2.17 |
0.89 |
0.75 |
0.33 |
1.03 |
0.65 |
Total Non-Interest Expense |
|
13 |
18 |
21 |
22 |
22 |
21 |
21 |
20 |
21 |
19 |
Insurance Policy Acquisition Costs |
|
3.63 |
- |
4.56 |
4.92 |
5.51 |
4.05 |
4.67 |
3.65 |
3.97 |
2.29 |
Other Operating Expenses |
|
8.91 |
14 |
17 |
17 |
16 |
17 |
17 |
16 |
17 |
17 |
Basic Earnings per Share |
|
$0.29 |
$0.45 |
$0.30 |
$0.55 |
$0.37 |
($0.13) |
$0.30 |
$0.21 |
$0.65 |
$0.73 |
Weighted Average Basic Shares Outstanding |
|
40.77M |
40.97M |
40.51M |
40.51M |
40.51M |
40.51M |
40.39M |
39.18M |
38.39M |
38.85M |
Diluted Earnings per Share |
|
$0.29 |
$0.45 |
$0.30 |
$0.55 |
$0.37 |
($0.13) |
$0.30 |
$0.21 |
$0.65 |
$0.73 |
Weighted Average Diluted Shares Outstanding |
|
40.77M |
40.97M |
40.51M |
40.51M |
40.51M |
40.51M |
40.39M |
39.18M |
38.39M |
38.85M |
Weighted Average Basic & Diluted Shares Outstanding |
|
40.52M |
40.51M |
40.51M |
40.51M |
40.51M |
40.51M |
39.44M |
38.55M |
37.40M |
37.35M |
Annual Cash Flow Statements for Runway Growth Finance
This table details how cash moves in and out of Runway Growth Finance's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
2021 |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
-10 |
1.06 |
-2.79 |
2.78 |
Net Cash From Operating Activities |
-61 |
-360 |
112 |
70 |
Net Cash From Continuing Operating Activities |
-61 |
-360 |
112 |
70 |
Net Income / (Loss) Continuing Operations |
46 |
32 |
44 |
74 |
Consolidated Net Income / (Loss) |
46 |
32 |
44 |
74 |
Amortization Expense |
-7.27 |
-5.47 |
-5.66 |
-3.39 |
Non-Cash Adjustments to Reconcile Net Income |
-100 |
-390 |
68 |
-3.02 |
Changes in Operating Assets and Liabilities, net |
0.37 |
3.31 |
5.77 |
2.56 |
Net Cash From Investing Activities |
0.00 |
0.00 |
0.00 |
0.00 |
Net Cash From Continuing Investing Activities |
0.00 |
0.00 |
0.00 |
0.00 |
Net Cash From Financing Activities |
51 |
361 |
-115 |
-67 |
Net Cash From Continuing Financing Activities |
51 |
361 |
-115 |
-67 |
Issuance of Debt |
181 |
686 |
235 |
211 |
Issuance of Common Equity |
119 |
0.00 |
0.00 |
0.00 |
Repayment of Debt |
-374 |
-253 |
-275 |
-172 |
Repurchase of Common Equity |
0.00 |
-11 |
0.00 |
-36 |
Payment of Dividends |
-18 |
-52 |
-73 |
-70 |
Other Financing Activities, Net |
142 |
-10 |
-1.91 |
-0.17 |
Cash Interest Paid |
2.77 |
7.78 |
38 |
37 |
Cash Income Taxes Paid |
0.00 |
0.00 |
0.34 |
0.62 |
Quarterly Cash Flow Statements for Runway Growth Finance
This table details how cash moves in and out of Runway Growth Finance's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Change in Cash & Equivalents |
|
-1.04 |
-0.01 |
-2.49 |
34 |
-23 |
-12 |
3.95 |
1.90 |
-5.19 |
2.13 |
Net Cash From Operating Activities |
|
-91 |
-196 |
-19 |
90 |
102 |
-62 |
69 |
-39 |
26 |
14 |
Net Cash From Continuing Operating Activities |
|
-91 |
-196 |
-19 |
90 |
102 |
-62 |
69 |
-39 |
26 |
14 |
Net Income / (Loss) Continuing Operations |
|
12 |
18 |
12 |
22 |
15 |
-4.79 |
12 |
8.29 |
25 |
28 |
Consolidated Net Income / (Loss) |
|
12 |
18 |
12 |
22 |
15 |
-4.79 |
12 |
8.29 |
25 |
28 |
Amortization Expense |
|
-0.60 |
-1.70 |
-2.17 |
-1.37 |
-1.56 |
-0.56 |
-3.17 |
-1.01 |
-1.56 |
2.35 |
Non-Cash Adjustments to Reconcile Net Income |
|
-101 |
-214 |
-31 |
67 |
87 |
-55 |
55 |
-45 |
-0.36 |
-12 |
Changes in Operating Assets and Liabilities, net |
|
-0.78 |
1.32 |
2.80 |
2.03 |
2.51 |
-1.57 |
5.03 |
-0.80 |
2.79 |
-4.46 |
Net Cash From Financing Activities |
|
90 |
196 |
16 |
-56 |
-125 |
50 |
-65 |
41 |
-31 |
-12 |
Net Cash From Continuing Financing Activities |
|
90 |
196 |
16 |
-56 |
-125 |
50 |
-65 |
41 |
-31 |
-12 |
Issuance of Debt |
|
210 |
254 |
55 |
43 |
48 |
89 |
10 |
97 |
75 |
29 |
Repayment of Debt |
|
-97 |
-40 |
-21 |
-80 |
-154 |
-20 |
-45 |
-25 |
-82 |
-20 |
Repurchase of Common Equity |
|
-4.02 |
-1.51 |
0.00 |
- |
- |
- |
-11 |
-13 |
-6.73 |
-5.77 |
Payment of Dividends |
|
-13 |
-15 |
-18 |
-18 |
-18 |
-19 |
-19 |
-19 |
-17 |
-15 |
Other Financing Activities, Net |
|
-4.97 |
-1.90 |
- |
- |
- |
-0.70 |
- |
- |
- |
-0.05 |
Cash Interest Paid |
|
1.42 |
4.66 |
7.93 |
10 |
9.53 |
10 |
8.01 |
10 |
8.25 |
11 |
Annual Balance Sheets for Runway Growth Finance
This table presents Runway Growth Finance's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
2021 |
2022 |
2023 |
2024 |
Total Assets |
1,457 |
58 |
1,079 |
1,091 |
Cash and Due from Banks |
- |
0.00 |
2.97 |
5.75 |
Trading Account Securities |
0.00 |
0.00 |
1,067 |
1,077 |
Loans and Leases, Net of Allowance |
0.00 |
0.00 |
0.00 |
0.00 |
Other Assets |
1,457 |
58 |
9.17 |
8.76 |
Total Liabilities & Shareholders' Equity |
98 |
0.29 |
1,079 |
1,091 |
Total Liabilities |
0.00 |
0.29 |
532 |
576 |
Short-Term Debt |
- |
- |
272 |
311 |
Accrued Interest Payable |
- |
- |
6.76 |
7.74 |
Long-Term Debt |
0.00 |
- |
238 |
241 |
Other Long-Term Liabilities |
0.00 |
0.29 |
15 |
16 |
Commitments & Contingencies |
- |
- |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
98 |
0.00 |
547 |
515 |
Total Preferred & Common Equity |
98 |
0.00 |
547 |
515 |
Total Common Equity |
98 |
0.00 |
547 |
515 |
Common Stock |
- |
- |
606 |
558 |
Retained Earnings |
- |
- |
-48 |
-43 |
Treasury Stock |
- |
- |
-11 |
0.00 |
Quarterly Balance Sheets for Runway Growth Finance
This table presents Runway Growth Finance's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Total Assets |
|
922 |
1,173 |
1,142 |
1,034 |
1,031 |
1,078 |
1,076 |
Cash and Due from Banks |
|
5.77 |
3.27 |
38 |
15 |
6.92 |
8.81 |
3.62 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Other Assets |
|
912 |
18 |
19 |
19 |
33 |
63 |
54 |
Total Liabilities & Shareholders' Equity |
|
922 |
1,173 |
1,142 |
1,034 |
1,031 |
1,078 |
1,076 |
Total Liabilities |
|
349 |
604 |
568 |
464 |
501 |
572 |
568 |
Short-Term Debt |
|
170 |
372 |
310 |
203 |
237 |
309 |
302 |
Accrued Interest Payable |
|
3.20 |
8.34 |
8.29 |
8.03 |
7.94 |
7.01 |
8.81 |
Long-Term Debt |
|
167 |
212 |
237 |
238 |
239 |
240 |
247 |
Other Long-Term Liabilities |
|
8.87 |
11 |
12 |
15 |
18 |
16 |
10 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
574 |
570 |
574 |
570 |
529 |
506 |
507 |
Total Preferred & Common Equity |
|
574 |
570 |
574 |
570 |
529 |
506 |
507 |
Total Common Equity |
|
574 |
570 |
574 |
570 |
529 |
506 |
507 |
Common Stock |
|
606 |
606 |
606 |
606 |
606 |
606 |
606 |
Retained Earnings |
|
-24 |
-26 |
-21 |
-25 |
-55 |
-65 |
-57 |
Treasury Stock |
|
-9.30 |
-11 |
-11 |
-11 |
-21 |
-34 |
-41 |
Annual Metrics And Ratios for Runway Growth Finance
This table displays calculated financial ratios and metrics derived from Runway Growth Finance's official financial filings.
Metric |
2021 |
2022 |
2023 |
2024 |
Growth Metrics |
- |
- |
- |
- |
Revenue Growth |
8.55% |
11.05% |
62.43% |
18.59% |
EBITDA Growth |
1.05% |
-30.18% |
44.47% |
81.52% |
EBIT Growth |
-2.90% |
-29.31% |
37.49% |
66.01% |
NOPAT Growth |
-5.30% |
-27.52% |
37.49% |
66.01% |
Net Income Growth |
-2.90% |
-29.31% |
37.49% |
66.01% |
EPS Growth |
-21.76% |
-40.60% |
37.97% |
73.39% |
Operating Cash Flow Growth |
42.27% |
-487.54% |
131.25% |
-37.96% |
Free Cash Flow Firm Growth |
0.00% |
201.33% |
-166.72% |
106.66% |
Invested Capital Growth |
0.00% |
-96.02% |
1,723.25% |
0.95% |
Revenue Q/Q Growth |
0.00% |
0.00% |
-13.58% |
28.36% |
EBITDA Q/Q Growth |
0.00% |
0.00% |
-36.40% |
123.42% |
EBIT Q/Q Growth |
0.00% |
0.00% |
-34.42% |
95.10% |
NOPAT Q/Q Growth |
0.00% |
0.00% |
-44.48% |
2.72% |
Net Income Q/Q Growth |
0.00% |
0.00% |
-34.42% |
95.10% |
EPS Q/Q Growth |
0.00% |
0.00% |
-34.73% |
83.50% |
Operating Cash Flow Q/Q Growth |
0.00% |
-56.24% |
619.29% |
1,307.93% |
Free Cash Flow Firm Q/Q Growth |
0.00% |
0.00% |
0.00% |
106.91% |
Invested Capital Q/Q Growth |
0.00% |
0.00% |
1,533.78% |
1.00% |
Profitability Metrics |
- |
- |
- |
- |
EBITDA Margin |
53.10% |
33.39% |
29.70% |
45.45% |
EBIT Margin |
63.17% |
40.21% |
34.04% |
47.65% |
Profit (Net Income) Margin |
63.17% |
40.21% |
34.04% |
47.65% |
Tax Burden Percent |
102.53% |
100.00% |
100.00% |
100.00% |
Interest Burden Percent |
97.53% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
0.00% |
0.00% |
0.00% |
0.00% |
Return on Invested Capital (ROIC) |
6.11% |
4.26% |
7.95% |
6.93% |
ROIC Less NNEP Spread (ROIC-NNEP) |
6.27% |
4.26% |
7.95% |
6.93% |
Return on Net Nonoperating Assets (RNNOA) |
86.90% |
61.49% |
8.26% |
6.93% |
Return on Equity (ROE) |
93.01% |
65.75% |
16.21% |
13.86% |
Cash Return on Invested Capital (CROIC) |
-193.89% |
188.95% |
-171.25% |
5.98% |
Operating Return on Assets (OROA) |
3.13% |
4.26% |
7.80% |
6.78% |
Return on Assets (ROA) |
3.13% |
4.26% |
7.80% |
6.78% |
Return on Common Equity (ROCE) |
93.01% |
65.75% |
16.21% |
13.86% |
Return on Equity Simple (ROE_SIMPLE) |
46.50% |
0.00% |
8.11% |
14.30% |
Net Operating Profit after Tax (NOPAT) |
44 |
32 |
44 |
74 |
NOPAT Margin |
61.60% |
40.21% |
34.04% |
47.65% |
Net Nonoperating Expense Percent (NNEP) |
-0.17% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
12.78% |
0.00% |
0.00% |
0.00% |
Operating Expenses to Revenue |
36.84% |
59.79% |
65.96% |
52.35% |
Earnings before Interest and Taxes (EBIT) |
46 |
32 |
44 |
74 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
38 |
27 |
39 |
70 |
Valuation Ratios |
- |
- |
- |
- |
Price to Book Value (P/BV) |
0.00 |
0.00 |
0.80 |
0.86 |
Price to Tangible Book Value (P/TBV) |
0.00 |
0.00 |
0.80 |
0.86 |
Price to Revenue (P/Rev) |
0.00 |
4.34 |
3.36 |
2.87 |
Price to Earnings (P/E) |
0.00 |
10.79 |
9.86 |
6.03 |
Dividend Yield |
2.56% |
14.68% |
14.83% |
12.68% |
Earnings Yield |
0.00% |
9.27% |
10.14% |
16.57% |
Enterprise Value to Invested Capital (EV/IC) |
0.00 |
6.00 |
0.89 |
0.93 |
Enterprise Value to Revenue (EV/Rev) |
0.00 |
4.34 |
7.25 |
6.41 |
Enterprise Value to EBITDA (EV/EBITDA) |
0.00 |
12.99 |
24.41 |
14.11 |
Enterprise Value to EBIT (EV/EBIT) |
0.00 |
10.79 |
21.30 |
13.46 |
Enterprise Value to NOPAT (EV/NOPAT) |
0.00 |
10.79 |
21.30 |
13.46 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
0.00 |
0.00 |
8.40 |
14.20 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
0.00 |
0.24 |
0.00 |
15.59 |
Leverage & Solvency |
- |
- |
- |
- |
Debt to Equity |
0.00 |
0.00 |
0.93 |
1.07 |
Long-Term Debt to Equity |
0.00 |
0.00 |
0.44 |
0.47 |
Financial Leverage |
13.85 |
14.44 |
1.04 |
1.00 |
Leverage Ratio |
14.85 |
15.44 |
2.08 |
2.04 |
Compound Leverage Factor |
14.48 |
15.44 |
2.08 |
2.04 |
Debt to Total Capital |
0.00% |
0.00% |
48.25% |
51.76% |
Short-Term Debt to Total Capital |
0.00% |
0.00% |
25.73% |
29.14% |
Long-Term Debt to Total Capital |
0.00% |
0.00% |
22.52% |
22.61% |
Preferred Equity to Total Capital |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
100.00% |
0.00% |
51.75% |
48.24% |
Debt to EBITDA |
0.00 |
0.00 |
13.19 |
7.87 |
Net Debt to EBITDA |
0.00 |
0.00 |
13.11 |
7.78 |
Long-Term Debt to EBITDA |
0.00 |
0.00 |
6.15 |
3.44 |
Debt to NOPAT |
0.00 |
0.00 |
11.50 |
7.50 |
Net Debt to NOPAT |
0.00 |
0.00 |
11.44 |
7.43 |
Long-Term Debt to NOPAT |
0.00 |
0.00 |
5.37 |
3.28 |
Noncontrolling Interest Sharing Ratio |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
- |
- |
- |
- |
Cash Flow Metrics |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
-1,412 |
1,431 |
-955 |
64 |
Operating Cash Flow to CapEx |
0.00% |
0.00% |
0.00% |
0.00% |
Free Cash Flow to Firm to Interest Expense |
0.00 |
0.00 |
0.00 |
0.00 |
Operating Cash Flow to Interest Expense |
0.00 |
0.00 |
0.00 |
0.00 |
Operating Cash Flow Less CapEx to Interest Expense |
0.00 |
0.00 |
0.00 |
0.00 |
Efficiency Ratios |
- |
- |
- |
- |
Asset Turnover |
0.05 |
0.11 |
0.23 |
0.14 |
Fixed Asset Turnover |
0.00 |
0.00 |
0.00 |
0.00 |
Capital & Investment Metrics |
- |
- |
- |
- |
Invested Capital |
1,457 |
58 |
1,057 |
1,067 |
Invested Capital Turnover |
0.10 |
0.11 |
0.23 |
0.15 |
Increase / (Decrease) in Invested Capital |
1,457 |
-1,399 |
999 |
10 |
Enterprise Value (EV) |
0.00 |
348 |
944 |
991 |
Market Capitalization |
0.00 |
348 |
437 |
444 |
Book Value per Share |
$2.87 |
$0.00 |
$13.50 |
$13.77 |
Tangible Book Value per Share |
$2.87 |
$0.00 |
$13.50 |
$13.77 |
Total Capital |
98 |
0.00 |
1,057 |
1,067 |
Total Debt |
0.00 |
0.00 |
510 |
552 |
Total Long-Term Debt |
0.00 |
0.00 |
238 |
241 |
Net Debt |
0.00 |
-0.00 |
507 |
547 |
Capital Expenditures (CapEx) |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Expense (NNE) |
-1.13 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
1,359 |
58 |
510 |
552 |
Total Depreciation and Amortization (D&A) |
-7.27 |
-5.47 |
-5.66 |
-3.39 |
Earnings Adjustments |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
$0.00 |
$0.79 |
$1.09 |
$1.89 |
Adjusted Weighted Average Basic Shares Outstanding |
0.00 |
40.97M |
40.51M |
38.85M |
Adjusted Diluted Earnings per Share |
$0.00 |
$0.79 |
$1.09 |
$1.89 |
Adjusted Weighted Average Diluted Shares Outstanding |
0.00 |
40.97M |
40.51M |
38.85M |
Adjusted Basic & Diluted Earnings per Share |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
0.00 |
40.51M |
40.51M |
37.35M |
Normalized Net Operating Profit after Tax (NOPAT) |
31 |
23 |
31 |
52 |
Normalized NOPAT Margin |
43.12% |
28.15% |
23.83% |
33.35% |
Pre Tax Income Margin |
61.60% |
40.21% |
34.04% |
47.65% |
Debt Service Ratios |
- |
- |
- |
- |
EBIT to Interest Expense |
0.00 |
0.00 |
0.00 |
0.00 |
NOPAT to Interest Expense |
0.00 |
0.00 |
0.00 |
0.00 |
EBIT Less CapEx to Interest Expense |
0.00 |
0.00 |
0.00 |
0.00 |
NOPAT Less CapEx to Interest Expense |
0.00 |
0.00 |
0.00 |
0.00 |
Payout Ratios |
- |
- |
- |
- |
Dividend Payout Ratio |
39.34% |
159.98% |
165.36% |
94.91% |
Augmented Payout Ratio |
39.34% |
193.52% |
165.36% |
143.75% |
Quarterly Metrics And Ratios for Runway Growth Finance
This table displays calculated financial ratios and metrics derived from Runway Growth Finance's official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
31.03% |
0.00% |
243.32% |
357.80% |
50.72% |
-55.93% |
1.04% |
-23.23% |
0.24% |
211.69% |
EBITDA Growth |
|
-2.95% |
0.00% |
5,353.89% |
1,686.07% |
19.25% |
-131.82% |
-9.61% |
-35.18% |
7.97% |
725.74% |
EBIT Growth |
|
2.29% |
0.00% |
320.05% |
2,831.95% |
26.45% |
-125.88% |
0.53% |
-34.63% |
7.10% |
749.86% |
NOPAT Growth |
|
2.29% |
0.00% |
320.05% |
54.15% |
26.45% |
-204.80% |
0.53% |
-34.63% |
7.10% |
1,028.38% |
Net Income Growth |
|
14.57% |
0.00% |
320.05% |
2,831.95% |
26.45% |
-125.88% |
0.53% |
-34.63% |
7.10% |
749.86% |
EPS Growth |
|
-6.45% |
0.00% |
328.57% |
2,850.00% |
27.59% |
-128.89% |
0.00% |
-61.82% |
75.68% |
661.54% |
Operating Cash Flow Growth |
|
0.00% |
-195.66% |
4.07% |
267.80% |
212.51% |
68.51% |
470.28% |
-142.88% |
-74.71% |
122.53% |
Free Cash Flow Firm Growth |
|
0.00% |
0.00% |
0.00% |
0.00% |
197.92% |
0.00% |
-3,341.13% |
-5,207.70% |
-154.32% |
102.10% |
Invested Capital Growth |
|
0.00% |
0.00% |
0.00% |
0.00% |
-96.50% |
1,723.25% |
2,432.64% |
2,464.09% |
1,532.95% |
0.95% |
Revenue Q/Q Growth |
|
149.37% |
50.81% |
-9.68% |
34.77% |
-17.90% |
-55.91% |
107.11% |
2.40% |
7.19% |
37.11% |
EBITDA Q/Q Growth |
|
941.86% |
51.04% |
-41.56% |
113.43% |
-36.70% |
-140.30% |
266.02% |
53.05% |
5.43% |
133.58% |
EBIT Q/Q Growth |
|
1,534.76% |
57.75% |
-35.19% |
86.25% |
-33.59% |
-132.28% |
351.77% |
21.12% |
8.80% |
95.88% |
NOPAT Q/Q Growth |
|
-19.04% |
-72.74% |
-61.02% |
86.25% |
-33.59% |
-122.60% |
-62.11% |
21.12% |
8.80% |
95.88% |
Net Income Q/Q Growth |
|
1,534.76% |
57.75% |
-35.19% |
86.25% |
-33.59% |
-132.28% |
351.77% |
21.12% |
8.80% |
95.88% |
EPS Q/Q Growth |
|
1,550.00% |
55.17% |
-33.33% |
83.33% |
-32.73% |
-135.14% |
330.77% |
-30.00% |
209.52% |
12.31% |
Operating Cash Flow Q/Q Growth |
|
-69.62% |
-114.86% |
90.54% |
586.44% |
13.73% |
-160.15% |
211.28% |
-156.34% |
167.06% |
-46.40% |
Free Cash Flow Firm Q/Q Growth |
|
0.00% |
100.00% |
0.00% |
32.06% |
9,643.65% |
-155.79% |
-6,858.79% |
-59,584.11% |
-1,557.01% |
102.16% |
Invested Capital Q/Q Growth |
|
0.00% |
-96.86% |
-31.54% |
3.66% |
57.25% |
1,533.78% |
1,228.73% |
2,007.45% |
821.66% |
1.00% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
45.84% |
45.91% |
29.71% |
47.04% |
36.27% |
-33.15% |
26.58% |
39.72% |
39.07% |
66.55% |
EBIT Margin |
|
48.32% |
50.54% |
36.26% |
50.11% |
40.54% |
-29.68% |
36.08% |
42.67% |
43.31% |
61.88% |
Profit (Net Income) Margin |
|
48.32% |
50.54% |
36.26% |
50.11% |
40.54% |
-29.68% |
36.08% |
42.67% |
43.31% |
61.88% |
Tax Burden Percent |
|
100.00% |
578.60% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Interest Burden Percent |
|
100.00% |
17.28% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Return on Invested Capital (ROIC) |
|
0.00% |
12.08% |
189.32% |
337.20% |
6.39% |
-4.85% |
9.02% |
9.36% |
9.30% |
9.00% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
0.00% |
38.46% |
189.32% |
337.20% |
6.39% |
-5.36% |
9.02% |
9.36% |
9.30% |
9.00% |
Return on Net Nonoperating Assets (RNNOA) |
|
0.00% |
0.00% |
0.00% |
0.00% |
181.18% |
-5.57% |
8.78% |
10.91% |
11.25% |
9.00% |
Return on Equity (ROE) |
|
0.00% |
0.00% |
0.00% |
0.00% |
187.57% |
-10.42% |
17.80% |
20.27% |
20.55% |
18.00% |
Cash Return on Invested Capital (CROIC) |
|
0.00% |
2,468.21% |
0.00% |
0.00% |
0.00% |
-171.25% |
-169.81% |
-172.10% |
-164.14% |
5.98% |
Operating Return on Assets (OROA) |
|
0.00% |
5.35% |
94.66% |
168.60% |
6.39% |
-6.80% |
8.80% |
9.17% |
9.14% |
8.81% |
Return on Assets (ROA) |
|
0.00% |
5.35% |
94.66% |
168.60% |
6.39% |
-6.80% |
8.80% |
9.17% |
9.14% |
8.81% |
Return on Common Equity (ROCE) |
|
0.00% |
0.00% |
0.00% |
0.00% |
187.57% |
-10.42% |
17.80% |
20.27% |
20.55% |
18.00% |
Return on Equity Simple (ROE_SIMPLE) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
8.39% |
7.24% |
7.44% |
0.00% |
Net Operating Profit after Tax (NOPAT) |
|
12 |
3.20 |
12 |
22 |
15 |
-3.35 |
12 |
15 |
16 |
31 |
NOPAT Margin |
|
48.32% |
8.73% |
36.26% |
50.11% |
40.54% |
-20.77% |
36.08% |
42.67% |
43.31% |
61.88% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
-26.38% |
0.00% |
0.00% |
0.00% |
0.51% |
0.00% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Operating Expenses to Revenue |
|
51.68% |
49.46% |
63.74% |
49.89% |
59.46% |
129.68% |
63.92% |
57.33% |
56.69% |
38.12% |
Earnings before Interest and Taxes (EBIT) |
|
12 |
18 |
12 |
22 |
15 |
-4.79 |
12 |
15 |
16 |
31 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
11 |
17 |
9.82 |
21 |
13 |
-5.35 |
8.87 |
14 |
14 |
33 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.80 |
0.82 |
0.87 |
0.79 |
0.86 |
Price to Tangible Book Value (P/TBV) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.80 |
0.82 |
0.87 |
0.79 |
0.86 |
Price to Revenue (P/Rev) |
|
0.00 |
4.34 |
3.63 |
2.88 |
2.84 |
3.36 |
3.33 |
3.65 |
3.33 |
2.87 |
Price to Earnings (P/E) |
|
0.00 |
10.79 |
9.09 |
6.19 |
6.34 |
9.86 |
9.80 |
14.44 |
9.88 |
6.03 |
Dividend Yield |
|
14.05% |
14.68% |
14.97% |
15.12% |
14.75% |
14.83% |
15.56% |
12.38% |
14.05% |
12.68% |
Earnings Yield |
|
0.00% |
9.27% |
11.00% |
16.16% |
15.77% |
10.14% |
10.21% |
6.92% |
10.13% |
16.57% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.00 |
6.00 |
8.96 |
9.18 |
6.63 |
0.89 |
0.90 |
0.93 |
0.90 |
0.93 |
Enterprise Value to Revenue (EV/Rev) |
|
0.00 |
4.34 |
3.43 |
2.73 |
2.84 |
7.25 |
6.92 |
8.14 |
7.86 |
6.41 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
0.00 |
12.99 |
9.77 |
6.44 |
7.05 |
24.41 |
23.95 |
32.22 |
30.12 |
14.11 |
Enterprise Value to EBIT (EV/EBIT) |
|
0.00 |
10.79 |
8.59 |
5.86 |
6.34 |
21.30 |
20.36 |
26.68 |
25.09 |
13.46 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
0.00 |
10.79 |
5.16 |
4.92 |
5.37 |
21.30 |
11.54 |
13.86 |
13.21 |
13.46 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
8.40 |
4.53 |
13.82 |
0.00 |
14.20 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
15.59 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.93 |
0.90 |
1.08 |
1.08 |
1.07 |
Long-Term Debt to Equity |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.44 |
0.45 |
0.47 |
0.49 |
0.47 |
Financial Leverage |
|
27.34 |
0.00 |
0.00 |
0.00 |
28.34 |
1.04 |
0.97 |
1.16 |
1.21 |
1.00 |
Leverage Ratio |
|
28.34 |
15.44 |
0.00 |
0.00 |
29.34 |
2.08 |
2.02 |
2.21 |
2.25 |
2.04 |
Compound Leverage Factor |
|
28.34 |
2.67 |
0.00 |
0.00 |
29.34 |
2.08 |
2.02 |
2.21 |
2.25 |
2.04 |
Debt to Total Capital |
|
0.00% |
0.00% |
100.00% |
100.00% |
0.00% |
48.25% |
47.34% |
52.00% |
51.98% |
51.76% |
Short-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
25.73% |
23.57% |
29.29% |
28.58% |
29.14% |
Long-Term Debt to Total Capital |
|
0.00% |
0.00% |
100.00% |
100.00% |
0.00% |
22.52% |
23.76% |
22.72% |
23.40% |
22.61% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
100.00% |
0.00% |
0.00% |
0.00% |
0.00% |
51.75% |
52.66% |
48.00% |
48.02% |
48.24% |
Debt to EBITDA |
|
0.00 |
0.00 |
-0.57 |
-0.37 |
0.00 |
13.19 |
12.61 |
18.07 |
17.48 |
7.87 |
Net Debt to EBITDA |
|
0.00 |
0.00 |
-0.57 |
-0.37 |
0.00 |
13.11 |
12.43 |
17.77 |
17.36 |
7.78 |
Long-Term Debt to EBITDA |
|
0.00 |
0.00 |
-0.57 |
-0.37 |
0.00 |
6.15 |
6.33 |
7.89 |
7.87 |
3.44 |
Debt to NOPAT |
|
0.00 |
0.00 |
-0.30 |
-0.28 |
0.00 |
11.50 |
6.08 |
7.77 |
7.66 |
7.50 |
Net Debt to NOPAT |
|
0.00 |
0.00 |
-0.30 |
-0.28 |
0.00 |
11.44 |
5.99 |
7.65 |
7.61 |
7.43 |
Long-Term Debt to NOPAT |
|
0.00 |
0.00 |
-0.30 |
-0.28 |
0.00 |
5.37 |
3.05 |
3.39 |
3.45 |
3.28 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-1,835 |
0.00 |
-28 |
-19 |
1,797 |
-1,003 |
-954 |
-999 |
-976 |
21 |
Operating Cash Flow to CapEx |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Free Cash Flow to Firm to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Operating Cash Flow to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Operating Cash Flow Less CapEx to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.00 |
0.11 |
2.61 |
3.36 |
0.16 |
0.23 |
0.24 |
0.21 |
0.21 |
0.14 |
Fixed Asset Turnover |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
1,847 |
58 |
40 |
41 |
65 |
1,057 |
1,005 |
1,055 |
1,057 |
1,067 |
Invested Capital Turnover |
|
0.00 |
1.38 |
5.22 |
6.73 |
0.16 |
0.23 |
0.25 |
0.22 |
0.21 |
0.15 |
Increase / (Decrease) in Invested Capital |
|
1,847 |
0.00 |
40 |
41 |
-1,782 |
999 |
966 |
1,014 |
992 |
10 |
Enterprise Value (EV) |
|
0.00 |
348 |
356 |
378 |
429 |
944 |
904 |
979 |
947 |
991 |
Market Capitalization |
|
0.00 |
348 |
376 |
399 |
429 |
437 |
435 |
439 |
401 |
444 |
Book Value per Share |
|
$1.60 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$13.50 |
$13.07 |
$12.84 |
$13.16 |
$13.77 |
Tangible Book Value per Share |
|
$1.60 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$13.50 |
$13.07 |
$12.84 |
$13.16 |
$13.77 |
Total Capital |
|
65 |
0.00 |
-21 |
-21 |
0.00 |
1,057 |
1,005 |
1,055 |
1,057 |
1,067 |
Total Debt |
|
0.00 |
0.00 |
-21 |
-21 |
0.00 |
510 |
476 |
549 |
549 |
552 |
Total Long-Term Debt |
|
0.00 |
0.00 |
-21 |
-21 |
0.00 |
238 |
239 |
240 |
247 |
241 |
Net Debt |
|
0.00 |
-0.00 |
-21 |
-21 |
-0.00 |
507 |
469 |
540 |
546 |
547 |
Capital Expenditures (CapEx) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Expense (NNE) |
|
0.00 |
-15 |
0.00 |
0.00 |
0.00 |
1.44 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
1,782 |
58 |
40 |
41 |
65 |
510 |
476 |
549 |
549 |
552 |
Total Depreciation and Amortization (D&A) |
|
-0.60 |
-1.70 |
-2.17 |
-1.37 |
-1.56 |
-0.56 |
-3.17 |
-1.01 |
-1.56 |
2.35 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$0.29 |
$0.45 |
$0.30 |
$0.55 |
$0.37 |
($0.13) |
$0.30 |
$0.21 |
$0.65 |
$0.73 |
Adjusted Weighted Average Basic Shares Outstanding |
|
40.77M |
40.97M |
40.51M |
40.51M |
40.51M |
40.51M |
40.39M |
39.18M |
38.39M |
38.85M |
Adjusted Diluted Earnings per Share |
|
$0.29 |
$0.45 |
$0.30 |
$0.55 |
$0.37 |
($0.13) |
$0.30 |
$0.21 |
$0.65 |
$0.73 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
40.77M |
40.97M |
40.51M |
40.51M |
40.51M |
40.51M |
40.39M |
39.18M |
38.39M |
38.85M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.54 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
40.52M |
40.51M |
40.51M |
40.51M |
40.51M |
40.51M |
39.44M |
38.55M |
37.40M |
37.35M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
8.21 |
2.24 |
8.39 |
16 |
10 |
-3.35 |
8.43 |
10 |
11 |
22 |
Normalized NOPAT Margin |
|
33.82% |
6.11% |
25.38% |
35.08% |
28.38% |
-20.77% |
25.25% |
29.87% |
30.32% |
43.31% |
Pre Tax Income Margin |
|
48.32% |
8.73% |
36.26% |
50.11% |
40.54% |
-29.68% |
36.08% |
42.67% |
43.31% |
61.88% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
NOPAT to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
EBIT Less CapEx to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
NOPAT Less CapEx to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
0.00% |
159.98% |
141.73% |
99.97% |
102.45% |
165.36% |
166.95% |
202.97% |
194.96% |
94.91% |
Augmented Payout Ratio |
|
0.00% |
193.52% |
166.88% |
108.55% |
104.69% |
165.36% |
190.84% |
266.91% |
274.95% |
143.75% |
Key Financial Trends
Runway Growth Finance Corp. (NASDAQ:RWAYL) has demonstrated a generally improving financial trajectory over the last four years, with notable quarterly trends observed throughout 2023 and 2024.
Positive highlights include:
- Consolidated net income rose significantly in recent quarters, reaching $31.1 million in Q4 2024, up from a loss of $4.8 million in Q4 2023.
- Basic and diluted earnings per share improved markedly from -$0.13 in Q4 2023 to $0.73 in Q4 2024, reflecting improved profitability.
- Total interest income remained strong and stable, with Q4 2024 reporting $33.1 million, consistent with prior quarters.
- Net cash from operating activities improved substantially, from a negative $61.6 million in Q4 2023 to a positive $13.9 million in Q4 2024, indicating better operating cash flow management.
- Total common equity has remained robust and relatively stable, showing strong capitalization with approximately $507 million reported in Q3 2024.
- Issuance of debt and repayment activities in 2024 have been balanced, with significant repayments helping manage leverage effectively.
- Amortization expense has been controlled, with slight fluctuations but no significant spikes impacting earnings.
Neutral factors worth monitoring:
- Other operating expenses have been relatively consistent around $16-$17 million per quarter in 2024, showing operational stability but without clear cost reductions.
- Weighted average shares outstanding have fluctuated slightly, with a minor decrease from approx. 40.5 million in earlier 2023 to approx. 38.8 million in late 2024, impacting earnings per share calculations.
- Cash interest paid remains substantial (over $10 million in recent quarters), consistent with the company's debt levels but an ongoing cash outflow to watch.
Negative trends and risks:
- Historic net realized and unrealized capital losses have negatively impacted non-interest income in some quarters, notably a -$23.1 million impact in Q4 2023 and smaller losses in early 2024.
- Q4 2023 posted a net loss with a negative pre-tax income (-$4.8 million), reflecting the worst quarterly performance in recent years during this period.
- Non-cash adjustments to reconcile net income in cash flows have been volatile and sometimes significantly negative, such as -$213.9 million in Q4 2022, showing potential fluctuations in asset valuations or accounting adjustments.
- Total liabilities have increased over time, growing to over $568 million by Q3 2024, which could raise leverage and financial risk if not managed carefully.
Summary: Runway Growth Finance Corp. has recovered well from a weak Q4 2023, showing strong improvement in profitability and cash flow generation during 2024. The company maintains a healthy equity base and balanced debt management, though investors should keep an eye on volatility in unrealized investment losses and the continued sizable cash interest payments. Overall, the company’s recent financial performance points toward strengthening fundamentals that may support investor confidence if sustained.
08/08/25 06:50 PMAI Generated. May Contain Errors.