Financials Runway Growth Finance Corp.

Equities

RWAY

US78163D1000

Corporate Financial Services

Market Closed - Nasdaq Other stock markets 04:00:00 2024-05-10 pm EDT			5-day change	1st Jan Change
11.57 ^USD	-4.38%		-11.20%	-8.32%

May. 10	Exchange-Traded Funds, Equity Futures Higher Pre-Bell Friday as Traders Await Federal Reserve Speakers' Opinions	MT
May. 08	Wells Fargo Trims Runway Growth Finance Price Target to $12 From $13, Maintains Equal Weight Rating	MT

Valuation

Fiscal Period: December	2021	2022	2023	2024	2025
Capitalization ¹	530.5	469.7	511.2	456.3	-
Enterprise Value (EV) ¹	525.8	469.7	511.2	734.6	786.3
P/E ratio	11.1 x	14.7 x	11.6 x	7.11 x	6.61 x
Yield	-	-	-	14.7%	14.2%
Capitalization / Revenue	7.43 x	4.33 x	3.11 x	2.93 x	2.89 x
EV / Revenue	7.37 x	4.33 x	3.11 x	4.72 x	4.98 x
EV / EBITDA	-	-	-	-	-
EV / FCF	-	-	-	-	-
FCF Yield	-	-	-	-	-
Price to Book	0.88 x	0.82 x	0.93 x	0.87 x	0.86 x
Nbr of stocks (in thousands)	41,381	40,524	40,509	39,438	-
Reference price ²	12.82	11.59	12.62	11.57	11.57
Announcement Date	3/3/22	3/2/23	3/7/24	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2020	2021	2022	2023	2024	2025
Net sales ¹	-	71.36	108.6	164.2	155.7	158
EBITDA	-	-	-	-	-	-
EBIT	-	-	-	-	-	-
Operating Margin	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	32.25	-	-	-
Net income ¹	46.98	45.62	32.25	44.34	64.87	70.24
Net margin	-	63.93%	29.71%	27%	41.66%	44.47%
EPS ²	1.700	1.150	0.7900	1.090	1.626	1.750
Free Cash Flow	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-
Dividend per Share ²	-	-	-	-	1.696	1.640
Announcement Date	3/12/21	3/3/22	3/2/23	3/7/24	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	17.58	19.26	25.16	27.33	36.81	39.31	41.9	43.78	39.22	40.01	37.9	38.43	39.18	39.52	39.75
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Margin	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	-	2.853	-0.8173	11.72	18.49	11.98	22.32	14.82	-4.171	12.05	17.4	17.2	-	17.5	17.2
Net income ¹	19.3	2.853	-0.8173	11.72	18.49	11.98	22.32	14.82	-4.785	12.05	17.38	17.53	17.63	17.34	17.39
Net margin	109.81%	14.81%	-3.25%	42.89%	50.24%	30.48%	53.28%	33.86%	-12.2%	30.11%	45.86%	45.63%	44.98%	43.88%	43.76%
EPS ²	0.4900	0.0700	-0.0200	0.2900	0.4600	0.3000	0.5500	0.3700	-0.1200	0.3000	0.4411	0.4440	0.4472	0.4340	0.4380
Dividend per Share ²	-	0.3000	0.3000	0.3300	-	-	-	0.4000	-	-	0.4171	0.4129	0.4129	0.4060	0.4060
Announcement Date	3/3/22	5/5/22	8/4/22	11/3/22	3/2/23	5/9/23	8/8/23	11/7/23	3/7/24	5/7/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2020	2021	2022	2023	2024	2025
Net Debt ¹	-	-	-	-	278	330
Net Cash position ¹	-	4.7	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	8.51%	5.46%	13.9%	12.9%	13.1%
ROA (Net income/ Total Assets)	-	6.62%	3.43%	7.05%	6.57%	6.46%
Assets ¹	-	689.1	940.1	629	987.9	1,087
Book Value Per Share ²	-	14.70	14.20	13.50	13.40	13.50
Cash Flow per Share	-	-	-	-	-	-
Capex	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-
Announcement Date	3/12/21	3/3/22	3/2/23	3/7/24	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Runway Growth Finance Corp.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

11.57 USD

Average target price

12.84 USD

Spread / Average Target

+11.01%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Commercial Loans