Bain Capital Specialty Finance, Inc. (BCSF) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 22.54M | 27.15M | 9M | 27.93M | 46.2M | 4.67M | 33.15M | 29.98M | 44.79M | 24.71M | 37.68M | 27.84M | 35.64M | 12.59M | 43.84M | 21.32M | 32.45M | 20.79M | 19.46M | -9.3M |
| Operating CF Margin % | 42.08% | 53.2% | 21.08% | 56.55% | 88.88% | 9.73% | 59.47% | 58.15% | 77.77% | 45.05% | 64.47% | 52.67% | 68.74% | 19.83% | 152.88% | 70.25% | 70.06% | 51.07% | 48.22% | -18.47% |
| Operating CF Growth % | -51.22% | 481.64% | -72.86% | -6.83% | 3.16% | -81.11% | -12.03% | 7.7% | 25.68% | 96.28% | -14.06% | 30.53% | 9.84% | -39.44% | 125.27% | 329.33% | 37.85% | 0.32% | 48.47% | -128.89% |
| Net Income | 27.36M | 27.78M | 18.7M | 23.72M | 28.55M | 22.14M | 33.1M | 29.09M | 35.09M | 31.06M | 33.86M | 29.17M | 29.29M | 43.52M | 11.05M | 17.23M | 33.68M | 22.28M | 23.34M | 42.43M |
| Depreciation & Amortization | -208K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -2.99M | 25.4M | -31.06M | 5.51M | 753K | -14.74M | 882K | 4.1M | 6K | -16.82M | 1.2M | 9.26M | -408K | -23.64M | 36.63M | 11.32M | -11.25M | -136K | -4.26M | -39.41M |
| Working Capital Changes | -1.63M | -26.03M | 21.35M | -1.3M | 16.9M | -2.73M | -831K | -3.21M | 9.69M | 10.47M | 2.63M | -10.59M | 6.76M | -7.29M | -3.84M | -7.23M | 10.01M | -1.35M | 386K | -12.33M |
| Change in Receivables | 3.37M | -2.08M | -132K | -4.02M | 7.76M | -1.72M | -1.55M | -4.66M | 9.6M | 103K | 7.47M | -4.43M | -1.78M | -9.63M | 282K | -11.34M | 10.4M | -2.31M | -3.42M | -6.97M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 3.33M | 0 | 0 | 1.39M | -1.59M | -1.81M | 1.52M | 1.6M | 1.47M | 7.46M | 351K | -4.73M | 1.69M | 5.03M | 212K | 1.81M | -3.39M | 436K | 4.82M | -5.15M |
| Cash from Investing | 4.1M | 0 | 0 | -27.28M | -53.47M | -24.65M | -169M | 162.45M | -108.48M | 123.97M | 84.63M | -36.61M | -78.59M | 50.46M | -143.54M | -199.76M | -134.2M | 48.31M | -29.23M | 40.71M |
| Capital Expenditures | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| CapEx % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Investments | 2.49B | 2.53B | 9.06M | 8.7M | 6.84M | 2.43B | 2.41B | 2.24B | 2.33B | 2.3B | 2.39B | 2.39B | 2.42B | 2.39B | 2.31B | 2.3B | 2.16B | 2.29B | 2.36B | 2.32B |
| Other Investing | -7.38M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | -51.29M | -54.81M | -96.86M | 77.81M | 1.98M | 59.95M | 96.95M | -216.53M | 73.88M | -142.12M | -144.53M | 56.47M | -1.24M | 2.79M | 88.88M | 131.8M | 14.86M | 43.67M | 15.08M | -58.5M |
| Debt Issued (Net) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity Issued (Net) | 0 | 0 | 0 | 924K | 4.55M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | -434K | -29.19M | -29.19M | -29.19M | -58.24M | -29.05M | -29.05M | -29.05M | -27.12M | -27.12M | -24.53M | -24.53M | -23.24M | -21.95M | -21.95M | -21.95M | -21.95M | -21.95M | -21.95M | -21.95M |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -36.54M | 0 | -785K | -924K | 924K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Change in Cash | -24.72M | -27.86M | -87.71M | 80.52M | -5.1M | 39.31M | -38.37M | -24.37M | 10.01M | 7.08M | -23.18M | 47.5M | -44.65M | 66.9M | -10.1M | -45.91M | -88.74M | 110.67M | 4.19M | -25.67M |
| Free Cash Flow | 26.64M | 27.15M | 9M | 27.93M | 46.2M | 4.67M | 33.15M | 29.98M | 44.79M | 24.71M | 37.68M | 27.84M | 35.64M | 12.59M | 43.84M | 21.32M | 32.45M | 20.79M | 19.46M | -9.3M |
| FCF Margin % | 49.73% | 53.2% | 21.08% | 56.55% | 88.88% | 9.73% | 59.47% | 58.15% | 77.77% | 45.05% | 64.47% | 52.67% | 68.74% | 19.83% | 152.88% | 70.25% | 70.06% | 51.07% | 48.22% | -18.47% |
| FCF Growth % | -42.35% | 481.64% | -72.86% | -6.83% | 3.16% | -81.11% | -12.03% | 7.7% | 25.68% | 96.28% | -14.06% | 30.53% | 9.84% | -39.44% | 125.27% | 329.33% | 37.85% | 0.32% | 48.47% | -128.89% |
| FCF per Share | 0.41 | 0.42 | 0.14 | 0.43 | 0.71 | 0.07 | 0.51 | 0.46 | 0.69 | 0.38 | 0.58 | 0.43 | 0.55 | 0.20 | 0.68 | 0.33 | 0.50 | 0.32 | 0.30 | -0.14 |
| FCF Conversion (FCF/Net Income) | 6.65x | 0.98x | 0.48x | 1.18x | 1.62x | 0.21x | 1.00x | 1.03x | 1.28x | 0.80x | 1.11x | 0.95x | 1.22x | 0.29x | 3.97x | 1.24x | 0.96x | 0.93x | 0.83x | -0.22x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |