Runway Growth Finance Corp. Financials

RWAY

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Runway Growth Finance Corp. (RWAY) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).

Financial Health Signals

Piotroski F-Score Neutral

4/9

Runway Growth Finance Corp. passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.

Earnings Quality Mixed

0.95x

For every $1 of reported earnings, Runway Growth Finance Corp. generates $0.95 in operating cash flow ($69.8M OCF vs $73.6M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Revenue

N/A

EBITDA

N/A

Free Cash Flow

N/A

Net Income

$73.6M

YoY+66.0%

Runway Growth Finance Corp. reported $73.6M in net income in fiscal year 2024. This represents an increase of 66.0% from the prior year.

EPS (Diluted)

$1.89

YoY+73.4%

Runway Growth Finance Corp. earned $1.89 per diluted share (EPS) in fiscal year 2024. This represents an increase of 73.4% from the prior year.

Cash & Debt

$5.8M

YoY+93.6%

Runway Growth Finance Corp. held $5.8M in cash against $552.3M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

37M

YoY-7.8%

Runway Growth Finance Corp. had 37M shares outstanding in fiscal year 2024. This represents a decrease of 7.8% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

14.3%

YoY+6.2pp

Runway Growth Finance Corp.'s ROE was 14.3% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 6.2 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$36.0M

Runway Growth Finance Corp. spent $36.0M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

N/A

RWAY Income Statement

Metric	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	$1.0M+23.3%	$827K+22.0%	$678K
Operating Income	N/A	N/A	N/A	N/A	N/A
Interest Expense	$44.2M+2.5%	$43.1M+157.4%	$16.8M+304.7%	$4.1M+140.5%	$1.7M
Income Tax	$400K-42.9%	$700K+133.3%	$300K	$0-100.0%	$1K
Net Income	$73.6M+66.0%	$44.3M+37.5%	$32.3M-29.3%	$45.6M-2.9%	$47.0M
EPS (Diluted)	$1.89+73.4%	$1.09+38.0%	$0.79-40.6%	$1.33-21.8%	$1.70

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$10.6M-9.6%	$11.8M+14.4%	$10.3M	N/A	$11.4M+4.7%	$10.9M+0.1%	$10.9M	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$8.0M-52.3%	$16.8M+800.2%	$1.9M	N/A	$25.0M+202.1%	$8.3M-31.2%	$12.0M	N/A
EPS (Diluted)	$0.22-51.1%	$0.45+800.0%	$0.05	N/A	$0.65+209.5%	$0.21-30.0%	$0.30	N/A

RWAY Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.1B+1.1%	$1.1B-5.5%	$1.1B+54.6%	$738.3M	N/A
Current Assets	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$5.8M+93.6%	$3.0M-48.4%	$5.8M+22.7%	$4.7M-68.4%	$14.9M
Inventory	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$576.5M+8.3%	$532.1M-5.9%	$565.7M+328.1%	$132.2M	N/A
Current Liabilities	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$552.3M+8.3%	$510.1M-7.1%	$549.0M+590.6%	$79.5M	N/A
Total Equity	$514.9M-5.9%	$547.1M-5.0%	$576.1M-5.0%	$606.2M+30.0%	$466.2M
Retained Earnings	-$43.5M+8.7%	-$47.6M-146.6%	-$19.3M-7136.0%	-$267K	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Total Assets	$963.3M-7.5%	$1.0B+0.8%	$1.0B-5.4%	$1.1B+1.5%	$1.1B-0.2%	$1.1B+4.6%	$1.0B-4.5%	$1.1B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$7.9M+32.8%	$6.0M-67.5%	$18.4M+219.2%	$5.8M+59.0%	$3.6M-58.9%	$8.8M+27.4%	$6.9M+132.8%	$3.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$473.8M-12.6%	$542.4M+2.4%	$529.6M-8.1%	$576.5M+1.5%	$568.2M-0.6%	$571.9M+14.0%	$501.5M-5.8%	$532.1M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$443.5M-14.0%	$515.9M+4.8%	$492.2M-10.9%	$552.3M+1.8%	$542.5M-1.1%	$548.7M+15.3%	$475.9M-6.7%	$510.1M
Total Equity	$489.5M-1.9%	$498.9M-0.9%	$503.3M-2.2%	$514.9M+1.5%	$507.4M+0.2%	$506.4M-4.4%	$529.5M-3.2%	$547.1M
Retained Earnings	-$56.3M-9.7%	-$51.4M+6.8%	-$55.1M-26.6%	-$43.5M+23.9%	-$57.2M+11.9%	-$64.9M-18.8%	-$54.6M-14.7%	-$47.6M

RWAY Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$69.8M-38.0%	$112.4M+131.2%	-$359.8M-487.5%	-$61.2M+42.3%	-$106.1M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	-$67.0M+41.9%	-$115.2M-131.9%	$360.9M+606.9%	$51.1M-32.1%	$75.2M
Dividends Paid	$69.9M-4.7%	$73.3M+42.1%	$51.6M+187.5%	$17.9M+147.0%	$7.3M
Share Buybacks	$36.0M	N/A	$10.8M	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Operating Cash Flow	$92.4M+31216.2%	-$297K-100.4%	$73.6M+429.6%	$13.9M-46.4%	$25.9M+167.1%	-$38.6M-156.3%	$68.6M+211.3%	-$61.6M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	-$90.5M-647.5%	-$12.1M+80.1%	-$61.0M-418.5%	-$11.8M+62.2%	-$31.1M-176.7%	$40.5M+162.7%	-$64.7M-230.2%	$49.7M
Dividends Paid	$13.0M	N/A	N/A	$14.9M-13.9%	$17.3M-6.4%	$18.5M-2.7%	$19.0M+2.2%	$18.6M
Share Buybacks	$4.4M	N/A	N/A	$5.8M-14.2%	$6.7M-47.6%	$12.8M+21.0%	$10.6M	N/A

RWAY Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A
Return on Equity	14.3%+6.2pp	8.1%+2.5pp	5.6%-1.9pp	7.5%-2.5pp	10.1%
Return on Assets	6.7%+2.6pp	4.1%+1.3pp	2.8%-3.4pp	6.2%	N/A
Current Ratio	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.07+0.1	0.93-0.0	0.95+0.8	0.13	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	1.6%-1.7pp	3.4%+3.0pp	0.4%	N/A	4.9%+3.3pp	1.6%-0.6pp	2.3%	N/A
Return on Assets	0.8%-0.8pp	1.6%+1.4pp	0.2%	N/A	2.3%+1.6pp	0.8%-0.4pp	1.2%	N/A
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.91-0.1	1.03+0.1	0.98-0.1	1.070.0	1.07-0.0	1.08+0.2	0.90-0.0	0.93
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Runway Growth Finance Corp. profitable?

Yes, Runway Growth Finance Corp. (RWAY) reported a net income of $73.6M in fiscal year 2024.

What is Runway Growth Finance Corp.'s earnings per share (EPS)?

Runway Growth Finance Corp. (RWAY) reported diluted earnings per share of $1.89 for fiscal year 2024. This represents a 73.4% 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.

How much debt does Runway Growth Finance Corp. have?

As of fiscal year 2024, Runway Growth Finance Corp. (RWAY) had $5.8M in cash and equivalents against $552.3M in long-term debt.

What is Runway Growth Finance Corp.'s return on equity (ROE)?

Runway Growth Finance Corp. (RWAY) has a return on equity of 14.3% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Runway Growth Finance Corp.'s operating cash flow?

Runway Growth Finance Corp. (RWAY) generated $69.8M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Runway Growth Finance Corp.'s total assets?

Runway Growth Finance Corp. (RWAY) had $1.1B in total assets as of fiscal year 2024, including both current and long-term assets.

Does Runway Growth Finance Corp. buy back shares?

Yes, Runway Growth Finance Corp. (RWAY) spent $36.0M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Runway Growth Finance Corp. have outstanding?

Runway Growth Finance Corp. (RWAY) had 37M shares outstanding as of fiscal year 2024.

What is Runway Growth Finance Corp.'s debt-to-equity ratio?

Runway Growth Finance Corp. (RWAY) had a debt-to-equity ratio of 1.07 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Runway Growth Finance Corp.'s return on assets (ROA)?

Runway Growth Finance Corp. (RWAY) had a return on assets of 6.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Runway Growth Finance Corp.'s Piotroski F-Score?

Runway Growth Finance Corp. (RWAY) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Runway Growth Finance Corp.'s earnings high quality?

Runway Growth Finance Corp. (RWAY) has an earnings quality ratio of 0.95x, considered mixed quality. 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.