What is Bain Capital Specialty Finance Inc's earnings per share (EPS)?

Bain Capital Specialty Finance Inc (BCSF) reported diluted earnings per share of $1.53 for fiscal year 2025. This represents a -17.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Bain Capital Specialty Finance Inc Financials

BCSF

Trailing 12 months to June 30, 2026

Revenue Not reported for the trailing 12 months

Net Income $63.9M -40.5% YoY

EPS (Diluted) $0.99 -40.4% YoY

Free Cash Flow Not reported for the trailing 12 months

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 10, 2026 Currency USD FYE December

This page shows Bain Capital Specialty Finance Inc (BCSF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI BCSF FY2025 2026-08-29

Balance-sheet leverage funds the business, while uneven cash conversion and distributions above earnings pressure retained capital.

The key mismatch is between reported earnings and cash generation: FY2025 net income was $98.8M, but operating cash flow was only $29.5M. That cash figure followed -$27.1M in FY2024 versus $219.3M in FY2023, indicating that profitability is not a steady proxy for cash receipts.

FY2025 dividends exceeded net income: dividends paid were $145.8M against $98.8M of net income, making distributions larger than reported profit. Retained earnings ended at -$43.8M, showing how payouts can reduce accumulated capital even while annual earnings remain positive.

The balance sheet became more leveraged as profitability softened: debt-to-equity rose from 1.1x in FY2023 to 1.3x in FY2025. Over the same span, return on assets fell from 5.0% to 3.7%, so fewer earnings were produced per asset dollar alongside a larger debt claim relative to equity.

Financial Health Signals

Financial health score not available

Bain Capital Specialty Finance Inc does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

2/6

Bain Capital Specialty Finance Inc passes 2 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

0.30x

For every $1 of reported earnings, Bain Capital Specialty Finance Inc generates $0.30 in operating cash flow ($29.5M OCF vs $98.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Net Income

$98.8M

YoY-17.3%

5Y CAGR+64.2%

Bain Capital Specialty Finance Inc reported $98.8M in net income in fiscal year 2025. This represents a decrease of 17.3% from the prior year.

EPS (Diluted)

$1.53

YoY-17.3%

5Y CAGR+61.3%

Bain Capital Specialty Finance Inc earned $1.53 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 17.3% from the prior year.

Revenue

Not reported for fiscal year 2025.

EBITDA

Not reported for fiscal year 2025.

Cash & Balance Sheet

Cash & Debt

$23.1M

YoY-55.2%

5Y CAGR-22.3%

Bain Capital Specialty Finance Inc held $23.1M in cash against $1.5B in long-term debt as of fiscal year 2025.

Shares Outstanding

65M

YoY+0.4%

5Y CAGR+0.1%

Bain Capital Specialty Finance Inc had 65M shares outstanding in fiscal year 2025. This represents an increase of 0.4% from the prior year.

Free Cash Flow

Not reported for fiscal year 2025.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Return on Equity

8.8%

YoY-1.6pp

5Y CAGR+8.1pp

Bain Capital Specialty Finance Inc's ROE was 8.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1.6 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Net Margin

Not reported for fiscal year 2025.

Capital Allocation

None of these metrics is reported for fiscal year 2025.

BCSF Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

BCSF quarterly income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20
Interest Expense	N/A	$80.6M+7.9%	$74.7M-6.6%	$80.0M+52.9%	$52.3M+1.9%	$51.3M-18.9%	$63.3M
Income Tax	N/A	N/A	$0	$0	$0	N/A	N/A
Net Income	$63.9M	$98.8M-17.3%	$119.4M-3.2%	$123.4M+17.0%	$105.5M-12.0%	$119.8M+1347.3%	$8.3M
EPS (Diluted)	$0.99	$1.53-17.3%	$1.85-3.1%	$1.91+17.2%	$1.63-12.4%	$1.86+1228.6%	$0.14

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Interest Expense	$20.7M+2.0%	$20.3M	N/A	$20.3M-6.7%	$21.8M+15.2%	$18.9M	N/A	$18.1M
Income Tax	N/A	N/A	N/A	N/A	N/A	$0	N/A	N/A
Net Income	$14.1M+314.6%	$3.4M-87.8%	$27.8M+48.6%	$18.7M-21.2%	$23.7M-16.9%	$28.5M+29.0%	$22.1M-33.1%	$33.1M
EPS (Diluted)	$0.22+340.0%	$0.05-88.4%	$0.43+48.3%	$0.29-21.6%	$0.37-15.9%	$0.44+29.4%	$0.34-33.3%	$0.51

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income.

BCSF Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

BCSF quarterly balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$2.7B+1.2%	$2.6B+6.5%	$2.5B-4.6%	$2.6B+0.8%	$2.6B	N/A
Cash & Equivalents	$23.1M-55.2%	$51.6M+19.9%	$43.0M+42.3%	$30.2M-65.5%	$87.4M+7.0%	$81.7M
Total Liabilities	$1.5B+3.5%	$1.5B+11.7%	$1.3B-9.5%	$1.5B+0.3%	$1.5B	N/A
Long-Term Debt	$1.5B+5.8%	$1.4B+10.7%	$1.3B-9.3%	$1.4B-2.1%	$1.4B	N/A
Total Equity	$1.1B-2.0%	$1.1B+0.3%	$1.1B+1.8%	$1.1B+1.5%	$1.1B+3.0%	$1.1B
Retained Earnings	-$43.8M-120.1%	-$19.9M+37.8%	-$32.0M+38.6%	-$52.1M	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$2.6B+0.7%	$2.6B-2.3%	$2.7B-2.0%	$2.7B-2.1%	$2.8B+5.0%	$2.6B+0.4%	$2.6B+3.5%	$2.5B
Cash & Equivalents	$97.2M+649.1%	$13.0M-43.8%	$23.1M-43.5%	$40.9M+46.8%	$27.8M+173.8%	$10.2M-80.3%	$51.6M+103.5%	$25.3M
Total Liabilities	$1.5B+2.1%	$1.5B-2.4%	$1.5B-2.7%	$1.6B-2.9%	$1.6B+9.2%	$1.5B+0.4%	$1.5B+6.8%	$1.4B
Long-Term Debt	$1.5B+3.2%	$1.5B-1.1%	$1.5B-1.7%	$1.5B-4.2%	$1.6B+7.7%	$1.5B+4.4%	$1.4B+6.9%	$1.3B
Total Equity	$1.1B-1.2%	$1.1B-2.1%	$1.1B-1.0%	$1.1B-0.9%	$1.1B-0.5%	$1.1B+0.4%	$1.1B-0.6%	$1.1B
Retained Earnings	-$80.8M-19.5%	-$67.6M-54.5%	-$43.8M-23.1%	-$35.6M-41.8%	-$25.1M-27.9%	-$19.6M+1.4%	-$19.9M-6.5%	-$18.7M

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities.

BCSF Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

BCSF quarterly cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$133.6M	$29.5M+209.0%	-$27.1M-112.4%	$219.3M+169.2%	-$316.8M-219.3%	$265.6M+197.0%	$89.4M
Financing Cash Flow	-$176.2M	-$71.9M-604.4%	$14.3M+106.2%	-$231.4M-197.1%	$238.3M+271.9%	-$138.6M-81.2%	-$76.5M
Dividends Paid	$122.6M	$145.8M+27.6%	$114.3M+14.9%	$99.4M+13.2%	$87.8M0.0%	$87.8M	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	$70.8M+165.8%	$26.6M-1.9%	$27.2M+201.8%	$9.0M+1292.6%	$646K+108.9%	-$7.3M+63.6%	-$20.0M+85.3%	-$135.9M
Financing Cash Flow	$26.8M+152.2%	-$51.3M+6.4%	-$54.8M+43.4%	-$96.9M-224.5%	$77.8M+3825.8%	$2.0M-96.7%	$59.9M-38.2%	$96.9M
Dividends Paid	$27.2M-26.3%	$37.0M+26.7%	$29.2M0.0%	$29.2M0.0%	$29.2M-49.9%	$58.2M+100.5%	$29.1M0.0%	$29.1M

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Investing Cash Flow, Share Buybacks.

BCSF Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

BCSF quarterly financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Return on Equity	8.8%-1.6pp	10.5%-0.4pp	10.9%+1.4pp	9.4%-1.4pp	10.9%+10.1pp	0.8%
Return on Assets	3.7%-0.8pp	4.5%-0.4pp	5.0%+0.9pp	4.1%-0.6pp	4.7%	N/A
Debt-to-Equity	1.32+0.1x	1.22+0.1x	1.11-0.1x	1.240.0x	1.29	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Return on Equity	1.3%+1.0pp	0.3%-2.2pp	2.5%+0.8pp	1.7%-0.4pp	2.1%-0.4pp	2.5%+0.5pp	1.9%-0.9pp	2.9%
Return on Assets	0.5%+0.4pp	0.1%-0.9pp	1.0%+0.3pp	0.7%-0.2pp	0.9%-0.2pp	1.1%+0.2pp	0.8%-0.5pp	1.3%
Debt-to-Equity	1.39+0.1x	1.330.0x	1.320.0x	1.330.0x	1.37+0.1x	1.270.0x	1.22+0.1x	1.13

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Current Ratio, FCF Margin.

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Where Bain Capital Specialty Finance Inc Ranks

Frequently Asked Questions

Is Bain Capital Specialty Finance Inc profitable?

Yes, Bain Capital Specialty Finance Inc (BCSF) reported a net income of $98.8M in fiscal year 2025.

How much debt does Bain Capital Specialty Finance Inc have?

As of fiscal year 2025, Bain Capital Specialty Finance Inc (BCSF) had $23.1M in cash and equivalents against $1.5B in long-term debt.

What is Bain Capital Specialty Finance Inc's return on equity (ROE)?

Bain Capital Specialty Finance Inc (BCSF) has a return on equity of 8.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Bain Capital Specialty Finance Inc's operating cash flow?

Bain Capital Specialty Finance Inc (BCSF) generated $29.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Bain Capital Specialty Finance Inc's total assets?

Bain Capital Specialty Finance Inc (BCSF) had $2.7B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Bain Capital Specialty Finance Inc have outstanding?

Bain Capital Specialty Finance Inc (BCSF) had 65M shares outstanding as of fiscal year 2025.

What is Bain Capital Specialty Finance Inc's debt-to-equity ratio?

Bain Capital Specialty Finance Inc (BCSF) had a debt-to-equity ratio of 1.32 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Bain Capital Specialty Finance Inc's return on assets (ROA)?

Bain Capital Specialty Finance Inc (BCSF) had a return on assets of 3.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Bain Capital Specialty Finance Inc's Piotroski F-Score?

Bain Capital Specialty Finance Inc (BCSF) has a Piotroski F-Score of 2 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Bain Capital Specialty Finance Inc's earnings high quality?

Bain Capital Specialty Finance Inc (BCSF) has an earnings quality ratio of 0.30x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.