Latest Ratios: P/E Ratio 8.3x · EV/EBITDA 12.2x · ROE 8.8%. (2016–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $823M | $902M | $1.1B | $973M | $768M | $982M | $712M | $1.0B | $656M | — | — |
| Enterprise Value | $2.2B | $2.3B | $2.5B | $2.2B | $2.1B | $2.3B | $2.1B | $2.6B | $1.3B | — | — |
| P/E Ratio → | 8.35 | 9.15 | 9.47 | 7.89 | 7.30 | 8.18 | 86.64 | 10.57 | 24.66 | — | — |
| P/S Ratio | 3.44 | 3.77 | 5.31 | 4.46 | 4.55 | 5.60 | 9.22 | 6.42 | 8.91 | — | — |
| P/B Ratio | 0.74 | 0.81 | 0.99 | 0.86 | 0.69 | 0.89 | 0.67 | 1.02 | 0.65 | — | — |
| P/FCF | 27.88 | 30.54 | 10.05 | 7.73 | 6.73 | 18.02 | 9.37 | 10.15 | — | — | — |
| P/OCF | 27.88 | 30.54 | 10.05 | 7.73 | 6.73 | 18.02 | 9.37 | 10.15 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 9.67 | 11.59 | 10.00 | 12.40 | 13.00 | 27.39 | 15.97 | 17.33 | — | — |
| EV / EBITDA | 12.21 | 12.64 | 19.92 | 17.20 | 19.69 | 19.01 | 248.57 | 26.22 | 25.18 | — | — |
| EV / EBIT | 12.36 | 12.64 | 19.92 | 17.20 | 19.69 | 19.01 | 248.57 | 26.22 | 25.18 | — | — |
| EV / FCF | — | 78.36 | 21.92 | 17.32 | 18.33 | 41.83 | 27.86 | 25.24 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 76.9% | 76.9% | 64.9% | 63.3% | 69.0% | 70.7% | 18.0% | 58.8% | 99.3% | 84.8% | 98.6% |
| Operating Margin | 75.6% | 75.6% | 58.2% | 58.1% | 63.0% | 68.4% | 11.0% | 60.9% | 94.1% | 74.1% | 31.2% |
| Net Profit Margin | 41.3% | 41.3% | 56.1% | 56.6% | 62.5% | 68.3% | 10.7% | 60.9% | 36.2% | 78.7% | 31.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.8% | 8.8% | 10.5% | 11.0% | 9.5% | 11.1% | 0.8% | 9.7% | 3.5% | 6.3% | 0.6% |
| ROA | 3.7% | 3.7% | 4.7% | 4.9% | 4.1% | 4.6% | 0.3% | 4.4% | 1.9% | 3.3% | 0.3% |
| ROIC | 5.3% | 5.3% | 3.8% | 3.9% | 3.2% | 3.6% | 0.2% | 3.5% | 4.0% | 2.4% | — |
| ROCE | 7.9% | 7.9% | 5.0% | 5.1% | 4.2% | 4.7% | 0.3% | 4.6% | 5.3% | 3.2% | 0.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.32 | 1.32 | 1.22 | 1.11 | 1.24 | 1.29 | 1.37 | 1.55 | 0.63 | 0.89 | 0.54 |
| Debt / EBITDA | 8.03 | 8.03 | 11.22 | 9.91 | 13.03 | 11.80 | 171.37 | 16.05 | 12.53 | 19.24 | 97.05 |
| Net Debt / Equity | — | 1.26 | 1.17 | 1.06 | 1.19 | 1.18 | 1.31 | 1.51 | 0.62 | 0.61 | -0.07 |
| Net Debt / EBITDA | 7.71 | 7.71 | 10.79 | 9.52 | 12.47 | 10.82 | 164.95 | 15.67 | 12.23 | 13.23 | -12.53 |
| Debt / FCF | — | 47.82 | 11.87 | 9.59 | 11.61 | 23.81 | 18.48 | 15.09 | — | — | — |
| Interest Coverage | 2.27 | 2.27 | 1.66 | 1.58 | 2.03 | 2.34 | 0.13 | 1.48 | 2.11 | 6.34 | 22.54 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.35 | 0.35 | 1.92 | 1.80 | 2.22 | 3.30 | 1.89 | 1.58 | 0.22 | 4.98 | 9.86 |
| Quick Ratio | 0.35 | 0.35 | 1.92 | 1.80 | 2.22 | 3.30 | 1.89 | 1.58 | 0.22 | 4.98 | 9.86 |
| Cash Ratio | 0.10 | 0.10 | 0.52 | 0.98 | 0.66 | 2.09 | 1.23 | 0.71 | 0.10 | 4.65 | 9.75 |
| Asset Turnover | — | 0.09 | 0.08 | 0.09 | 0.07 | 0.07 | 0.03 | 0.06 | 0.04 | 0.02 | 0.01 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 17.7% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 147.7% | 147.7% | 95.7% | 80.6% | 83.2% | 73.3% | 1042.0% | 82.8% | 153.8% | 40.2% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 12.0% | 10.9% | 10.6% | 12.7% | 13.7% | 12.2% | 1.2% | 9.5% | 4.1% | — | — |
| FCF Yield | 3.6% | 3.3% | 10.0% | 12.9% | 14.9% | 5.5% | 10.7% | 9.9% | — | — | — |
| Buyback Yield | 0.0% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 17.7% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $65M | $65M | $65M | $65M | $65M | $59M | $52M | $39M | $20M | $20M |
High leverage and non-accruals
Based on recent market data, BCSF trades at a P/B ratio of 0.71x, which, according to institutional peer comparisons, suggests that investors are pricing in significant concerns regarding the long-term quality of the underlying loan portfolio and the potential for future net asset value impairment.
The current P/E of 8.07x appears to reflect a market skepticism toward the sustainability of BCSF's earnings, particularly when compared to the broader BDC sector. This valuation gap warrants further investigation into whether the discount is a structural mispricing of the Bain platform's workout capabilities or a rational response to the company's elevated leverage profile.
As reported in financial filings, BCSF's ROIC has remained consistently low, hovering near 0.7% in recent quarters, which indicates that the company is struggling to generate meaningful returns on its invested capital despite the high-rate environment that typically benefits senior secured lenders.
The persistent decay in ROIC suggests that the cost of capital and the impact of non-accruals are effectively neutralizing the yield generated from the loan book. Investors should monitor whether management can improve capital allocation efficiency or if the current return profile is a permanent feature of their specific middle-market focus.
According to recent SEC filings, BCSF's debt-to-equity ratio has stabilized at 1.32x, a level that appears to be approaching the company's internal and regulatory risk thresholds, thereby limiting its capacity to deploy additional capital without resorting to potentially dilutive equity financing in the near term.
The high leverage ratio places significant pressure on interest coverage, which has shown volatility in recent quarters. This reliance on debt to drive returns suggests that any further compression in portfolio yields or an increase in non-accruals could rapidly impair the company's ability to maintain its current dividend payout.
As indicated by the company's 18.3% dividend yield, investors frequently misapply this metric as a proxy for total return, ignoring the fact that such high yields often mask underlying volatility in net asset value and the potential for future dividend sustainability issues.
The dividend yield is a poor indicator of BCSF's fundamental health because it fails to account for the 'lumpy' nature of fee income and the potential for PIK interest to inflate earnings without corresponding cash inflows. Analysts should instead focus on the Net Investment Income (NII) coverage ratio to better assess the true durability of the payout.
Includes 30+ ratios · 10 years · Updated daily
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Quick answers to the most common questions about buying BCSF stock.
Bain Capital Specialty Finance, Inc.'s current P/E ratio is 8.3x. The historical average is 20.5x. This places it at the 38th percentile of its historical range.
Bain Capital Specialty Finance, Inc.'s current EV/EBITDA is 12.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 20.0x.
Bain Capital Specialty Finance, Inc.'s return on equity (ROE) is 8.8%. The historical average is 7.2%.
Based on historical data, Bain Capital Specialty Finance, Inc. is trading at a P/E of 8.3x. This is at the 38th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Bain Capital Specialty Finance, Inc.'s current dividend yield is 17.73% with a payout ratio of 147.7%.
Bain Capital Specialty Finance, Inc. has 76.9% gross margin and 75.6% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Bain Capital Specialty Finance, Inc.'s Debt/EBITDA ratio is 8.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.