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RWAY logoRunway Growth Finance Corp.(RWAY)Earnings, Financials & Key Ratios

RWAY•NASDAQ•Banking & Credit
$6.83
$247M mkt cap·7.3× P/E·Price updated May 7, 2026
SectorFinancial ServicesIndustryCredit ServicesSub-IndustrySmall Business and Middle-Market Lending
AboutRunway Growth Finance Corp. is a business development company specializing investments in senior-secured loans to late stage and growth companies. It prefers to make investments in companies engaged in the technology, life sciences, healthcare and information services, business services and select consumer services and products sectors. It prefers to investments in companies engaged in electronic equipment and instruments, systems software, hardware, storage and peripherals and specialized consumer services, application software, healthcare technology, internet software and services, data processing and outsourced services, internet retail, human resources and employment services, biotechnology, healthcare equipment and education services. It invests in senior secured loans between $10 million and $75 million.Show more
  • Net Interest Income$95M+14.3%
  • Total Revenue$140M+12.8%
  • Net Income$34M-53.7%
  • Return on Equity6.81%-50.9%
  • Net Interest Margin9.86%+29.9%
  • Efficiency Ratio23.73%+140.1%
  • ROA3.32%-51.1%
  • Equity / Assets50.51%+7.1%
  • Book Value per Share13.22-0.3%
  • Tangible BV/Share13.22-0.3%
  • Debt/Equity0.93-13.5%
Technical→

RWAY Key Insights

Runway Growth Finance Corp. (RWAY) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong Piotroski F-Score: 7/9
  • ✓Strong NIM of 9.9%
  • ✓Efficient operations: 23.7% efficiency ratio
  • ✓Well capitalized: 50.5% equity/assets
  • ✓Share count reduced 5.5% through buybacks
  • ✓Trading at only 0.5x book value

✗Weaknesses

  • ✗Weak momentum: RS Rating 17 (bottom 17%)
  • ✗Dividend payout exceeds 100% of earnings
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

RWAY Price & Volume

Runway Growth Finance Corp. (RWAY) stock price & volume — 10-year historical chart

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RWAY Growth Metrics

Runway Growth Finance Corp. (RWAY) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years21.73%
3 Years36.48%
TTM-

Profit CAGR

10 Years-
5 Years-6.24%
3 Years1.83%
TTM-49.26%

EPS CAGR

10 Years-
5 Years-3.99%
3 Years5.59%
TTM-57.14%

Return on Capital

10 Years4.05%
5 Years5.81%
3 Years6.11%
Last Year7.48%

RWAY Recent Earnings

Runway Growth Finance Corp. (RWAY) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 4/12 qtrs (33%)●Beat Revenue 5/12 qtrs (42%)
Q2 2026Latest
Mar 12, 2026
EPS
$0.32
Est $0.36
-11.1%
Revenue
$30M
Est $32M
-6.0%
Q4 2025
Nov 6, 2025
EPS
$0.43
Est $0.38
+13.2%
Revenue
$21M
Est $32M
-33.6%
Q3 2025
Aug 7, 2025
EPS
$0.38
Est $0.39
-2.6%
Revenue
$34M
Est $35M
-4.2%
Q2 2025
May 12, 2025
EPS
$0.42
Est $0.36
+16.7%
Revenue
$35M
Est $34M
+3.3%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMar 12, 2026
$0.32vs $0.36-11.1%
$30Mvs $32M-6.0%
Q4 2025Nov 6, 2025
$0.43vs $0.38+13.2%
$21Mvs $32M-33.6%
Q3 2025Aug 7, 2025
$0.38vs $0.39-2.6%
$34Mvs $35M-4.2%
Q2 2025May 12, 2025
$0.42vs $0.36+16.7%
$35Mvs $34M+3.3%
Based on last 12 quarters of dataView full earnings history →

RWAY Peer Comparison

Runway Growth Finance Corp. (RWAY) competitors in Small Business and Middle-Market Lending — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
TPVG logoTPVGTriplePoint Venture Growth BDC Corp.Direct Competitor242.54M5.994.9136.55%-3.39%1.33
HRZN logoHRZNHorizon Technology Finance CorporationDirect Competitor199.02M4.514.3017.91%8.95%1.49
HTGC logoHTGCHercules Capital, Inc.Direct Competitor3.07B16.408.8626.97%13.18%1.04
ARCC logoARCCAres Capital CorporationProduct Competitor13.61B18.9610.1932.87%8.11%1.12
GBDC logoGBDCGolub Capital BDC, Inc.Product Competitor3.43B13.159.2642.5%5.24%1.23
OBDC logoOBDCBlue Owl Capital CorporationProduct Competitor5.67B11.419.2052.55%7.29%1.26
FSCO logoFSCOFS Credit Opportunities Corp.Product Competitor1.02B5.155.42-17.44%13.47%0.32
SLRC logoSLRCSLR Investment Corp.Product Competitor745.22M13.668.0424.76%7.31%1.15

Compare RWAY vs Peers

Runway Growth Finance Corp. (RWAY) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs TPVG

Most directly comparable listed peer for RWAY.

Scale Benchmark

vs ARCC

Larger-name benchmark to compare RWAY against a more recognizable public peer.

Peer Set

Compare Top 5

vs TPVG, HRZN, HTGC, ARCC

RWAY Income Statement

Runway Growth Finance Corp. (RWAY) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Net Interest Income019.03M53.26M53.95M62.14M91.26M120.44M82.82M94.66M69.15M
NII Growth %--179.86%1.29%15.19%46.86%31.97%-31.24%14.29%-87.62%
Net Interest Margin %0%13.69%10.32%8.43%8.42%7.99%11.16%7.59%9.86%7.64%
Interest Income3.02B19.57M54.45M55.01M66.33M105.02M159.09M127.05M137.33M126.51M
Interest Expense0532.73K1.19M1.06M4.19M13.76M38.64M44.23M42.67M44.26M
Loan Loss Provision000-150000-5.9M-12.5M-22.98M
Non-Interest Income-3.02B-4.98M-21.57M-2.57M-12.33M-49.88M-64.57M-2.83M2.83M-15.89M
Non-Interest Income %-94683.97%-34.16%-65.62%-4.9%-22.84%-90.46%-68.31%-2.28%2.02%-14.36%
Total Revenue
3.19M▲ 0%
14.58M▲ 357.2%
32.88M▲ 125.4%
52.44M▲ 59.5%
54M▲ 3.0%
55.14M▲ 2.1%
94.52M▲ 71.4%
124.22M▲ 31.4%
140.16M▲ 12.8%
110.63M▲ 0%
Revenue Growth %-357.18%125.44%59.51%2.97%2.11%71.41%31.42%12.84%92.26%
Non-Interest Expense4.63M2.29M4.04M4.4M4.19M9.13M11.54M12.28M33.27M49.13M
Efficiency Ratio145.03%15.72%12.3%8.39%7.76%16.57%12.2%9.89%23.73%44.41%
Operating Income
-1.84M▲ 0%
11.76M▲ 738.5%
27.65M▲ 135.1%
46.98M▲ 69.9%
45.62M▼ 2.9%
32.25M▼ 29.3%
44.34M▲ 37.5%
73.61M▲ 66.0%
76.72M▲ 4.2%
42.17M▲ 0%
Operating Margin %-57.73%80.62%84.09%89.58%84.48%58.49%46.91%59.26%54.74%38.12%
Operating Income Growth %-103.94%738.46%135.14%69.93%-2.9%-29.31%37.49%66.01%4.23%-
Pretax Income
-1.44M▲ 0%
11.76M▲ 918.6%
27.65M▲ 135.1%
46.98M▲ 69.9%
45.62M▼ 2.9%
32.25M▼ 29.3%
44.34M▲ 37.5%
73.61M▲ 66.0%
34.05M▼ 53.7%
32.18M▲ 0%
Pretax Margin %-45.03%80.62%84.09%89.58%84.48%58.49%46.91%59.26%24.29%29.09%
Income Tax405.25K000000000
Effective Tax Rate %-28.22%0%0%0%0%0%0%0%0%0%
Net Income
-1.44M▲ 0%
11.76M▲ 918.6%
27.65M▲ 135.1%
46.98M▲ 69.9%
45.62M▼ 2.9%
32.25M▼ 29.3%
44.34M▲ 37.5%
73.61M▲ 66.0%
34.05M▼ 53.7%
32.18M▲ 0%
Net Margin %-45.03%80.62%84.09%89.58%84.48%58.49%46.91%59.26%24.29%29.09%
Net Income Growth %-59.05%918.6%135.14%69.93%-2.9%-29.31%37.49%66.01%-53.74%-49.26%
Net Income (Continuing)-1.44M11.76M27.65M46.98M45.62M32.25M44.34M73.61M34.05M32.18M
EPS (Diluted)
-0.51▲ 0%
0.28▲ 154.9%
0.67▲ 139.3%
1.14▲ 70.1%
1.33▲ 16.7%
0.79▼ 40.6%
1.09▲ 38.0%
1.89▲ 73.4%
0.93▼ 50.8%
0.89▲ 0%
EPS Growth %99.39%154.9%139.29%70.15%16.67%-40.6%37.97%73.39%-50.79%-57.14%
EPS (Basic)-0.510.280.671.141.330.791.091.890.93-
Diluted Shares Outstanding2.8M41.38M41.38M41.38M39.59M40.97M40.51M38.85M36.7M36.13M

RWAY Balance Sheet

Runway Growth Finance Corp. (RWAY) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash & Short Term Investments8.14M82.49M45.8M14.89M4.7M5.76M2.97M5.75M18.18M34.36M
Cash & Due from Banks8.14M2.53M45.8M14.89M4.7M5.76M2.97M5.75M18.18M2.31M
Short Term Investments079.96M00000000
Total Investments140.72B304.21M0020.09M15.85M00927.4M886.35M
Investments Growth %--99.78%-100%---21.11%-100%---11.74%
Long-Term Investments0224.25M0020.09M15.85M00927.4M1.87B
Accounts Receivables330.93K1.22M2.35M3.04M2.37M8.77M8.27M8.14M7.59M0
Goodwill & Intangibles0000000000
Goodwill0000000000
Intangible Assets0000000000
PP&E (Net)0000000000
Other Assets68.22M-308.25M467.98M621.83M710.25M1.11B1.07B1.08B6.94M0
Total Current Assets81.1M83.87M48.31M18.06M8.02M14.53M11.24M13.89M25.77M10.85M
Total Non-Current Assets68.22M224.35M467.98M621.83M730.33M1.13B1.07B1.08B934.35M0
Total Assets
149.32M▲ 0%
139.06M▼ 6.9%
516.29M▲ 271.3%
639.89M▲ 23.9%
738.35M▲ 15.4%
1.14B▲ 54.6%
1.08B▼ 5.5%
1.09B▲ 1.1%
960.11M▼ 12.0%
904.93M▲ 0%
Asset Growth %4121.71%-6.87%271.27%23.94%15.39%54.64%-5.48%1.13%-12.03%-38.28%
Return on Assets (ROA)-1.88%8.15%8.44%8.13%6.62%3.43%3.99%6.78%3.32%3.33%
Accounts Payable19M80.7K75.09M70.12M45.02M6.22M6.76M7.74M00
Total Debt0138.93M60.02M97.42M79.49M548.96M510.08M552.33M449.92M0
Net Debt-8.14M136.4M14.22M82.53M74.79M543.2M507.11M546.58M431.74M-2.31M
Long-Term Debt0060.02M97.42M79.49M548.96M510.08M552.33M449.92M0
Short-Term Debt0138.93M00000000
Other Liabilities0100K4.86M6.11M7.64M10.54M15.24M16.41M10.79M0
Total Current Liabilities19.28M140.75M75.09M70.12M45.02M6.22M6.76M7.74M00
Total Non-Current Liabilities0140.88M64.89M103.53M87.13M559.49M525.32M568.74M475.14M0
Total Liabilities19.28M110.57K139.98M173.65M132.15M565.71M532.08M576.49M475.14M466.7M
Total Equity
127.04M▲ 0%
364.92M▲ 187.3%
376.31M▲ 3.1%
466.24M▲ 23.9%
606.2M▲ 30.0%
576.05M▼ 5.0%
547.07M▼ 5.0%
514.87M▼ 5.9%
484.97M▼ 5.8%
438.23M▲ 0%
Equity Growth %3554.08%187.25%3.12%23.9%30.02%-4.97%-5.03%-5.89%-5.81%-23.73%
Equity / Assets (Capital Ratio)85.08%262.42%72.89%72.86%82.1%50.45%50.69%47.18%50.51%48.43%
Return on Equity (ROE)-2.2%4.78%7.46%11.15%8.51%5.46%7.9%13.86%6.81%6.73%
Book Value per Share45.458.829.0911.2715.3114.0613.5013.2513.2212.13
Tangible BV per Share45.458.829.0911.2715.3114.0613.5013.2513.2212.13
Common Stock86.68K110.57K258.11K314.14K414K414K414K373K361K36.13B
Additional Paid-in Capital126.92M162.57M384.37M466.87M606.05M605.77M605.11M557.99M534.51M0
Retained Earnings33.42K167.37M-8.31M-942.76K-267K-19.32M-47.64M-43.5M-49.9M0
Accumulated OCI0167.37M00000000
Treasury Stock00000-10.82M-10.82M000
Preferred Stock04.69M00000000

RWAY Cash Flow Statement

Runway Growth Finance Corp. (RWAY) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations-117.96M-172.93M-133.58M-106.09M-61.25M48.98M112.44M50.49M34.56M186.31M
Operating CF Growth %-3497.41%-46.6%22.76%20.58%42.26%179.96%129.58%-55.09%-31.56%-297.92%
Net Income-1.44M11.76M27.65M46.98M45.62M32.25M44.34M73.61M032.18M
Depreciation & Amortization-1.24B-4.61M-3.61M23.51M-3.05M03.03M0-1.98M-802K
Deferred Taxes0000000000
Other Non-Cash Items-118.73M-158.79M-160.31M-177.13M-104.2M13.42M59.84M-25.68M37.73M-10.63M
Working Capital Changes2.2M-21.28M2.7M549.19K370.81K3.31M5.23M2.56M-1.19M5.37M
Cash from Investing-48.01B-170.27M-138.81M168.61M-120.84M-453.82M0-22.93M148.26M42.33M
Purchase of Investments-48.01B-187.03M-241.75M276.22M-424.45M-622.72M0-254.11M-150.32M-60.05M
Sale/Maturity of Investments016.75M102.94M-107.61M303.6M168.9M0231.18M298.58M210.13M
Net Investment Activity-48.01B-170.27M-138.81M168.61M-120.84M-453.82M0-22.93M148.26M150.08M
Acquisitions0000000000
Other Investing000000000-107.75M
Cash from Financing125.06M167.32M176.85M75.18M51.06M360.91M-115.23M-66.81M-170.37M-131.21M
Dividends Paid0-1.43M-8.19M-7.27M-17.95M-51.59M-73.32M-69.86M-51.45M-63.37M
Share Repurchases00000-10.82M0-35.95M-12.5M-12.5M
Stock Issued125.06B30M190M50.32M119.29M16K0000
Net Stock Activity125.06B30M190M50.32M119.29M-10.8M0-35.95M-12.5M-12.5M
Debt Issuance (Net)01000K1000K1000K-1000K1000K-1000K1000K-1000K1000K
Other Financing125.06M79.24M-6.46M-5.87M-32.29M0-1.91M-1K0-10.31M
Net Change in Cash
7.1M▲ 0%
-5.61M▼ 179.1%
43.27M▲ 870.8%
-30.91M▼ 171.4%
-10.19M▲ 67.0%
1.06M▲ 110.4%
-2.79M▼ 362.2%
2.78M▲ 199.6%
12.42M▲ 346.7%
-16.04M▲ 0%
Exchange Rate Effect48.01B170.27M138.81M-168.61M120.84M45M042.03M-26K54.01M
Cash at Beginning1.04M8.14M2.53M45.8M14.89M4.7M5.76M2.97M5.75M18.18M
Cash at End8.14M2.53M45.8M14.89M4.7M5.76M2.97M5.75M18.18M2.31M
Interest Paid00000038.1M009.51M
Income Taxes Paid0000000000
Free Cash Flow
-117.96M▲ 0%
-172.93M▼ 46.6%
-133.58M▲ 22.8%
-106.09M▲ 20.6%
-61.25M▲ 42.3%
48.98M▲ 180.0%
112.44M▲ 129.6%
50.49M▼ 55.1%
186.31M▲ 269.0%
54.27M▲ 0%
FCF Growth %-3497.41%-46.6%22.76%20.58%42.26%179.96%129.58%-55.09%269%-9.75%

RWAY Banking Ratios

Runway Growth Finance Corp. (RWAY) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
Return on Equity (ROE)-2.2%4.78%7.46%11.15%8.51%5.46%7.9%13.86%6.81%6.73%
Return on Assets (ROA)-1.88%8.15%8.44%8.13%6.62%3.43%3.99%6.78%3.32%3.33%
Net Interest Margin0%13.69%10.32%8.43%8.42%7.99%11.16%7.59%9.86%7.64%
Efficiency Ratio145.03%15.72%12.3%8.39%7.76%16.57%12.2%9.89%23.73%44.41%
Equity / Assets85.08%262.42%72.89%72.86%82.1%50.45%50.69%47.18%50.51%48.43%
Book Value / Share45.458.829.0911.2715.3114.0613.513.2513.2212.13
NII Growth--179.86%1.29%15.19%46.86%31.97%-31.24%14.29%-25.06%
Dividend Payout-12.15%29.63%15.47%39.34%-146.17%-151.1%119.45%

RWAY SEC Filings & Documents

Runway Growth Finance Corp. (RWAY) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 7, 2026·SEC

Material company update

May 6, 2026·SEC

Material company update

Apr 7, 2026·SEC

10-K Annual Reports

2
FY 2026

Mar 12, 2026·SEC

FY 2025

Mar 20, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

May 7, 2026·SEC

FY 2025

Nov 6, 2025·SEC

FY 2025

Aug 7, 2025·SEC

RWAY Frequently Asked Questions

Runway Growth Finance Corp. (RWAY) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Runway Growth Finance Corp. (RWAY) grew revenue by 12.8% over the past year. This is steady growth.

Yes, Runway Growth Finance Corp. (RWAY) is profitable, generating $32.2M in net income for fiscal year 2025 (24.3% net margin).

Dividend & Returns

Yes, Runway Growth Finance Corp. (RWAY) pays a dividend with a yield of 20.53%. This makes it attractive for income-focused investors.

Runway Growth Finance Corp. (RWAY) has a return on equity (ROE) of 6.8%. This is below average, suggesting room for improvement.

Industry Metrics

Runway Growth Finance Corp. (RWAY) has a net interest margin (NIM) of 9.9%. This indicates healthy earnings from lending activities.

Runway Growth Finance Corp. (RWAY) has an efficiency ratio of 23.7%. This is excellent, indicating strong cost control.

Explore More RWAY

Runway Growth Finance Corp. (RWAY) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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