(RWAY) Runway Growth Finance - Overview

Sector: Financial Services | Industry: Asset Management | Exchange: NASDAQ (USA) | Market Cap: 282m USD | Total Return: -24.7% in 12m

Senior Secured Loans, Growth Capital, Venture Debt
Total Rating 19
Safety 38
Buy Signal -0.52
Asset Management
Industry Rotation: -5.1
Market Cap: 282M
Avg Turnover: 3.70M
Risk 3d forecast
Volatility23.2%
VaR 5th Pctl3.90%
VaR vs Median2.25%
Reward TTM
Sharpe Ratio-1.22
Rel. Str. IBD8
Rel. Str. Peer Group7.4
Character TTM
Beta0.652
Beta Downside0.932
Hurst Exponent0.354
Drawdowns 3y
Max DD36.90%
CAGR/Max DD-0.12
CAGR/Mean DD-0.41
EPS (Earnings per Share) EPS (Earnings per Share) of RWAY over the last years for every Quarter: "2021-03": 0.3, "2021-06": 0.35, "2021-09": 0.32, "2021-12": 0.28, "2022-03": 0.3, "2022-06": 0.35, "2022-09": 0.36, "2022-12": 0.45, "2023-03": 0.45, "2023-06": 0.49, "2023-09": 0.54, "2023-12": 0.45, "2024-03": 0.46, "2024-06": 0.37, "2024-09": 0.41, "2024-12": 0.39, "2025-03": 0.42, "2025-06": 0.45, "2025-09": 0.43, "2025-12": 0.32, "2026-03": 0.29,
EPS CAGR: -4.89%
EPS Trend: -34.8%
Last SUE: -1.37
Qual. Beats: -1
Revenue Revenue of RWAY over the last years for every Quarter: 2021-03: 11.267456, 2021-06: 9.003824, 2021-09: 13.111863, 2021-12: 20.881583, 2022-03: 5.722, 2022-06: 3.246, 2022-09: 17.569, 2022-12: 28.951834, 2023-03: 24.526, 2023-06: 35.282, 2023-09: 26.752, 2023-12: 7.958, 2024-03: 24.772, 2024-06: 20.298, 2024-09: 37.99, 2024-12: 41.157, 2025-03: 13.727, 2025-06: 30.529, 2025-09: 20.992, 2025-12: 19.044, 2026-03: 30.702,
Rev. CAGR: 82.06%
Rev. Trend: 39.4%
Last SUE: 0.13
Qual. Beats: 0

Warnings

Below Avwap Earnings

Tailwinds

No distinct edge detected

Description: RWAY Runway Growth Finance

Runway Growth Finance Corp. (RWAY) operates as a business development company (BDC) focused on providing senior-secured loans to late-stage and growth-oriented private companies. The firm targets high-growth sectors including technology, life sciences, healthcare, and specialized business services, typically originating loan facilities ranging from $10 million to $75 million.

As a BDC, the company’s business model involves generating income through interest payments and commitment fees while benefiting from the senior-secured position which provides priority claim on borrower assets in the event of default. This lending structure is often utilized by companies seeking non-dilutive capital to scale operations without issuing additional equity. Investors seeking deeper insights into the underlying credit quality and portfolio risk of RWAY may find ValueRay a useful resource for further analysis.

Headlines to Watch Out For
  • Floating rate senior secured loan yields drive net interest income margins
  • Venture capital funding cycles dictate loan demand and portfolio growth velocity
  • Credit quality stability in late-stage tech and life sciences prevents valuation loss
  • Federal Reserve interest rate policy shifts impact core lending profitability spreads
  • Strategic acquisition by BC Partners provides capital scale for larger deal execution
Piotroski VR‑10 (Strict) 4.0
Net Income: -2.63m TTM > 0 and > 6% of Revenue
FCF/TA: 0.13 > 0.02 and ΔFCF/TA 7.08 > 1.0
NWC/Revenue: 10.72% < 20% (prev 5.29%; Δ 5.43% < -1%)
CFO/TA 0.13 > 3% & CFO 116.7m > Net Income -2.63m
Net Debt (439.4m) to EBITDA (7.85m): 55.96 < 3
Current Ratio: error (cannot be calculated; needs correct Total Current Assets and Liabilities)
Outstanding Shares: last quarter (36.1m) vs 12m ago -3.25% < -2%
Gross Margin: 65.53% > 18% (prev 0.66%; Δ 6.49k% > 0.5%)
Asset Turnover: 10.45% > 50% (prev 10.96%; Δ -0.51% > 0%)
Interest Coverage Ratio: 0.20 > 6 (EBITDA TTM 7.85m / Interest Expense TTM 38.5m)
Altman Z'' -0.43
A: 0.01 (Total Current Assets 10.9m - Total Current Liabilities 0.0) / Total Assets 904.9m
B: -0.11 (Retained Earnings -96.4m / Total Assets 904.9m)
C: 0.01 (EBIT TTM 7.85m / Avg Total Assets 968.9m)
D: -0.21 (Book Value of Equity -96.0m / Total Liabilities 466.7m)
Altman-Z'' Score: -0.43 = B
What is the price of RWAY shares? As of May 20, 2026, the stock is trading at USD 6.29 with a total of 737,976 shares traded.
Over the past week, the price has changed by -0.62%, over one month by -1.66%, over three months by -17.86% and over the past year by -24.73%.
Is RWAY a buy, sell or hold? Runway Growth Finance has received a consensus analysts rating of 3.67. Therefor, it is recommend to hold RWAY.
  • StrongBuy: 3
  • Buy: 0
  • Hold: 6
  • Sell: 0
  • StrongSell: 0
What are the forecasts/targets for the RWAY price?
Analysts Target Price 8.6 36.9%
Runway Growth Finance (RWAY) - Fundamental Data Overview as of 17 May 2026
P/E Forward = 5.2994
P/S = 2.1494
P/B = 0.6342
P/EG = 1.1571
Revenue TTM = 101.3m USD
EBIT TTM = 7.85m USD
EBITDA TTM = 7.85m USD
 Long Term Debt = unknown (none)
 Short Term Debt = unknown (none)
 Debt = 441.7m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 439.4m USD (from netDebt column, last quarter)
Enterprise Value = 721.8m USD (282.4m + Debt 441.7m - CCE 2.31m)
Interest Coverage Ratio = 0.20 (Ebit TTM 7.85m / Interest Expense TTM 38.5m)
EV/FCF = 6.18x (Enterprise Value 721.8m / FCF TTM 116.7m)
FCF Yield = 16.17% (FCF TTM 116.7m / Enterprise Value 721.8m)
 FCF Margin = 115.3% (FCF TTM 116.7m / Revenue TTM 101.3m)
 Net Margin = -2.60% (Net Income TTM -2.63m / Revenue TTM 101.3m)
Gross Margin = 65.53% ((Revenue TTM 101.3m - Cost of Revenue TTM 34.9m) / Revenue TTM)
Gross Margin QoQ = 77.65% (prev 54.54%)
Tobins Q-Ratio = 0.80 (Enterprise Value 721.8m / Total Assets 904.9m)
Interest Expense / Debt = 2.37% (Interest Expense 10.5m / Debt 441.7m)
Taxrate = 21.0% (US default 21%)
NOPAT = 6.20m (EBIT 7.85m * (1 - 21.00%))
 Current Ratio = unknown (Total Current Assets 10.9m / Total Current Liabilities 0.0)
 Debt / Equity = 1.01 (Debt 441.7m / totalStockholderEquity, last quarter 438.2m)
Debt / EBITDA = 55.96 (Net Debt 439.4m / EBITDA 7.85m)
Debt / FCF = 3.76 (Net Debt 439.4m / FCF TTM 116.7m)
Total Stockholder Equity = 477.9m (last 4 quarters mean from totalStockholderEquity)
RoA = -0.27% (Net Income -2.63m / Total Assets 904.9m)
RoE = -0.55% (Net Income TTM -2.63m / Total Stockholder Equity 477.9m)
RoCE = 0.87% (EBIT 7.85m / Capital Employed (Total Assets 904.9m - Current Liab 0.0))
RoIC = 0.65% (NOPAT 6.20m / Invested Capital 960.9m)
WACC = 4.37% (E(282.4m)/V(724.1m) * Re(8.28%) + D(441.7m)/V(724.1m) * Rd(2.37%) * (1-Tc(0.21)))
Discount Rate = 8.28% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -84.85 | Cagr: -5.62%
[DCF] Terminal Value 80.82% ; FCFF base≈94.1m ; Y1≈61.8m ; Y5≈28.3m
[DCF] Fair Price = 10.77 (EV 896.8m - Net Debt 439.4m = Equity 457.4m / Shares 42.5m; r=6.0% [WACC]; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: -34.77 | EPS CAGR: -4.89% | SUE: -1.37 | # QB: -1
Revenue Correlation: 39.42 | Revenue CAGR: 82.06% | SUE: 0.13 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.30 | Chg30d=-17.32% | Revisions=-33% | Analysts=5
EPS next Quarter (2026-09-30): EPS=0.32 | Chg30d=-13.51% | Revisions=-25% | Analysts=5
EPS current Year (2026-12-31): EPS=1.24 | Chg30d=-13.29% | Revisions=-56% | GrowthEPS=-20.0% | GrowthRev=-3.7%
EPS next Year (2027-12-31): EPS=1.29 | Chg30d=-10.14% | Revisions=-50% | GrowthEPS=+4.3% | GrowthRev=+9.4%
[Analyst] Revisions Ratio: -56%