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Runway Growth Finance Corp. 8.00% Notes due 2027 (RWAYZ) Financials

$25.30 +0.02 (+0.09%)
As of 09/12/2025 04:00 PM Eastern
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Annual Income Statements for Runway Growth Finance Corp. 8.00% Notes due 2027

Annual Income Statements for Runway Growth Finance Corp. 8.00% Notes due 2027

This table shows Runway Growth Finance Corp. 8.00% Notes due 2027's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2021 2022 2023 2024
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 46 32 44 74
Consolidated Net Income / (Loss)		 46 32 44 74
Net Income / (Loss) Continuing Operations		 46 32 44 74
Total Pre-Tax Income 		44 32 44 74
Total Revenue		 72 80 130 154
Net Interest Income / (Expense)		 68 106 160 142
Total Interest Income		 68 106 160 142
Investment Securities Interest Income		 68 106 160 142
Total Interest Expense		 0.00 0.00 0.00 0.00
Total Non-Interest Income		 4.49 -26 -30 13
Other Service Charges		 3.37 1.39 3.85 2.76
Net Realized & Unrealized Capital Gains on Investments		 1.13 -28 -34 9.86
Total Non-Interest Expense		 27 48 86 81
Insurance Policy Acquisition Costs		 - 13 19 15
Other Operating Expenses		 17 35 67 66
Basic Earnings per Share		 $1.33 $0.79 $1.09 $1.89
Weighted Average Basic Shares Outstanding		 34.18M 40.97M 40.51M 38.85M
Diluted Earnings per Share		 $1.33 $0.79 $1.09 $1.89
Weighted Average Diluted Shares Outstanding		 34.18M 40.97M 40.51M 38.85M
Weighted Average Basic & Diluted Shares Outstanding		 - 40.51M 40.51M 37.35M

Quarterly Income Statements for Runway Growth Finance Corp. 8.00% Notes due 2027

This table shows Runway Growth Finance Corp. 8.00% Notes due 2027'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
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
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 Corp. 8.00% Notes due 2027

This table details how cash moves in and out of Runway Growth Finance Corp. 8.00% Notes due 2027's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2021 2022 2023 2024
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024
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 Corp. 8.00% Notes due 2027

This table details how cash moves in and out of Runway Growth Finance Corp. 8.00% Notes due 2027'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
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
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 Corp. 8.00% Notes due 2027

This table presents Runway Growth Finance Corp. 8.00% Notes due 2027'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
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024
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 Corp. 8.00% Notes due 2027

This table presents Runway Growth Finance Corp. 8.00% Notes due 2027'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
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
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 Corp. 8.00% Notes due 2027

This table displays calculated financial ratios and metrics derived from Runway Growth Finance Corp. 8.00% Notes due 2027's official financial filings.

Metric 2021 2022 2023 2024
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024
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 Corp. 8.00% Notes due 2027

This table displays calculated financial ratios and metrics derived from Runway Growth Finance Corp. 8.00% Notes due 2027'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
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
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 shown significant financial trends over the last four years, with notable fluctuations in income, cash flows, and balance sheet strength. Below we summarize key positive, neutral, and negative factors from the latest four years of quarterly data.

  • Net Interest Income growth: The company consistently earns all its interest income from investment securities, with Net Interest Income rising from ~$26.9M in Q3 2022 to $33.1M in Q4 2024, showing stable core revenue generation.
  • Improving net income performance: After a loss in Q4 2023 (-$4.8M), RWAYL posted continuous quarterly net income gains in 2024, reaching $31.1M by Q4, indicating a strong operational turnaround.
  • Operating cash flows improving: Net cash from operating activities turned positive in 2024 quarters after negative cash flow in 2023 Q4 and Q2, ending Q4 2024 at $13.9M positive, evidencing improved cash generation.
  • Dividend payments maintained: Despite prior losses, the company continued paying dividends quarterly, with payments around $14-$19M, signaling confidence in cash flow stability and commitment to shareholders.
  • Equity base fairly stable: Total common equity stayed near $500M-$570M from 2022 through 2024, showing solid capitalization despite some treasury stock and retained earnings fluctuations.
  • Stable issuance and repayment of debt: The company actively managed debt with large issuances offset by significant repayments each quarter, showing an ongoing strategy to optimize capital structure but also indicating exposure to debt markets.
  • Non-interest expenses fluctuated: Operating expenses ranged roughly $13.5M to $21M across quarters, with insurance policy acquisition and other operating costs contributing variably—neither dramatically improving nor worsening.
  • Share count relatively constant: Weighted average diluted shares outstanding hovered around 38-40 million shares, limiting dilution concerns but also indicating limited buybacks.
  • Investment securities held: No loans or leases reported, implying the company focuses primarily on securities investment rather than lending, exposing it to market risk instead of credit risk.
  • Significant unrealized capital losses on investments: Net realized and unrealized capital gains were negative in most quarters recently (notably -$22M in Q4 2023), reducing total non-interest income and negatively impacting reported earnings at times.
  • Volatile cash flows: Operating cash flows swung widely from positive $102M in Q3 2023 to negative $61.6M in Q4 2023 and negative $38.6M in Q2 2024, reflecting volatility in working capital or investment positions that could affect liquidity management.
  • High interest payments: Cash interest paid ranged $4.6M (Q4 2022) up to $11M in late 2024, which is a substantial ongoing cash outflow reducing net profitability and cash available for other uses.

Summary: Runway Growth Finance Corp. demonstrated marked improvement in profitability and operating cash flow throughout 2024, recovering from losses in late 2023. Its business strategy solely based on investment securities provides consistent interest income but exposes it to market-driven unrealized losses. The balance sheet remains well capitalized with manageable leverage, although debt issuance and repayments remain active. Investors should monitor volatility in investment gains/losses and cash flow patterns, but the recent trend is positive for earnings and cash generation.

09/14/25 06:53 AM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About Runway Growth Finance Corp. 8.00% Notes due 2027's Financials

When does Runway Growth Finance Corp. 8.00% Notes due 2027's financial year end?

According to the most recent income statement we have on file, Runway Growth Finance Corp. 8.00% Notes due 2027's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Runway Growth Finance Corp. 8.00% Notes due 2027's net income changed over the last 3 years?

Runway Growth Finance Corp. 8.00% Notes due 2027's net income appears to be on an upward trend, with a most recent value of $73.61 million in 2024, rising from $45.62 million in 2021. The previous period was $44.34 million in 2023.

How has Runway Growth Finance Corp. 8.00% Notes due 2027's revenue changed over the last 3 years?

Over the last 3 years, Runway Growth Finance Corp. 8.00% Notes due 2027's total revenue changed from $72.22 million in 2021 to $154.49 million in 2024, a change of 113.9%.

How much debt does Runway Growth Finance Corp. 8.00% Notes due 2027 have?

Runway Growth Finance Corp. 8.00% Notes due 2027's total liabilities were at $576.49 million at the end of 2024, a 8.3% increase from 2023, and a 57,648,600,000.0% increase since 2021.

How much cash does Runway Growth Finance Corp. 8.00% Notes due 2027 have?

In the past 3 years, Runway Growth Finance Corp. 8.00% Notes due 2027's cash and equivalents has ranged from $0.00 in 2021 to $5.75 million in 2024, and is currently $5.75 million as of their latest financial filing in 2024.

How has Runway Growth Finance Corp. 8.00% Notes due 2027's book value per share changed over the last 3 years?

Over the last 3 years, Runway Growth Finance Corp. 8.00% Notes due 2027's book value per share changed from 2.87 in 2021 to 13.77 in 2024, a change of 379.7%.


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This page (NASDAQ:RWAYZ) was last updated on 9/14/2025 by MarketBeat.com Staff
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