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Bain Capital Specialty Finance, Inc.

NYSE•BCSF
CEO: Mr. Michael Alexander Ewald
Sector: Financial Services
Industry: Asset Management
Listing Date: 2018-11-15
Bain Capital Specialty Finance, Inc. is business development company specializing in direct loans to middle-market companies. The fund seeks to invest in senior investments with a first or second lien on collateral, senior first lien, stretch senior, senior second lien, unitranche, mezzanine debt, junior securities, other junior investments, and secondary purchases of assets or portfolios that primarily consist of middle-market corporate debt. It typically invests in companies with EBITDA between $10 million and $150 million.
Contact Information
200 Clarendon Street, Boston, MA, 02116, United States
617-516-2000
www.baincapitalspecialtyfinance.com
Market Cap
$798.53M
P/E (TTM)
8.1
0
Dividend Yield
15.6%
52W High
$16.87
52W Low
$11.82
52W Range
10%
Rank43Top 50.7%
3.8
F-Score
Modified Piotroski Analysis
Based on 9-year fundamentals
Weak • 3.8 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2017-2025

Financial Dashboard

Q4 2025 Data

Revenue

$95.14M+0.00%
4-Quarter Trend

EPS

$0.43+0.00%
4-Quarter Trend

FCF

$2.67M+0.00%
4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Strong Unrealized Appreciation Reversal Net change in unrealized appreciation $21.58M, reversing $12.31M depreciation; portfolio fair value $2.51B USD.
Low Non-Accrual Portfolio Status Non-accrual investments represent only 1.5% of amortized cost as of December 31, 2025, indicating stable credit quality.
Senior Loans Dominate Portfolio First Lien Senior Secured Loans comprise 63.8% of fair value portfolio, targeting senior direct lending strategy returns.
Asset Coverage Above 150% Minimum Asset coverage ratio stood at 175.9% on December 31, 2025, maintaining regulatory compliance despite leverage use.

Risk Factors

NAV Decline and Income Pressure NAV per share decreased to $17.23 USD; Net investment income after taxes fell to $121.60M USD, reflecting market pressures.
Near-Term Debt Maturity Exposure $600.0M USD of total debt obligations mature within one year by December 31, 2026, requiring refinancing.
High Leverage Magnifies Volatility Strategy involves high leverage, which magnifies potential gains or losses on invested capital, increasing investment risk profile.
Level 3 Valuation Subjectivity Risk Significant portion of investments valued using Level 3 inputs requires substantial management judgment, impacting valuation reliability.

Outlook

Equity Distribution Agreement Active Equity Distribution Agreement allows potential sale of up to $250.0M USD common stock via 'at the market' offerings.
Hedging Interest Rate Exposure Interest rate swap designated as hedge for March 2030 Notes to manage floating rate liability exposure.
Tiered Management Fee Structure Base management fee is 1.5% down to 1.0% based on asset coverage ratio relative to leverage levels.
New Debt Issuance Completed $350.0M March 2030 Notes issued in February 2025; 2019-1 CLO refinanced in July 2025.

Peer Comparison

Revenue (TTM)

NMFC stock ticker logoNMFC
$370.24M
+12.3%
GSBD stock ticker logoGSBD
$304.84M
+58.4%
BCSF stock ticker logoBCSF
$239.20M
+12.4%

Gross Margin (Latest Quarter)

SLRC stock ticker logoSLRC
156.7%
+2.2pp
BBDC stock ticker logoBBDC
119.8%
+0.0pp
CGBD stock ticker logoCGBD
106.8%
-2.4pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
GSBD$1.06B9.08.0%55.5%
KBDC$947.97M10.48.2%48.8%
BBDC$870.12M8.68.7%54.2%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
22.3%
Strong Growth
4Q Net Income CAGR
-0.9%
Stable Profitability
Cash Flow Stability
100%
Strong Cash Flow

Deep Research

Next earnings:May 4, 2026
|
EPS:$0.44
|
Revenue:$65.58M
Financials
Earnings Calls
Reports
News
Income Statement
Balance Sheet
Cash Flow Statement
Ratios
% Chg.
Income Statement
LTM
No Data