BCSF FY 2024 Earnings Report — Bain Capital Specialty Finance, Inc. Revenue & Financial Results | Market Cap Arena

Bain Capital Specialty Finance, Inc.BCSF

FY 2024 Earnings

Reported February 27, 2025

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2024	Prior Q	FY 2023	QoQ Change	YoY Change
Revenue	$213M	—	$218M	—	-2.3%
Op. Income	$124M	—	$127M	—	-2.2%
Gross Margin	64.9%	—	63.3%	—	1.6pp
Net Margin	56.1%	—	56.6%	—	-0.5pp
EPS (Diluted)	$1.85	—	$1.91	—	-3.1%
Free Cash Flow	$113M	—	$126M	—	-10.6%

Revenue Flow

Item	Amount
REVENUE	$213M
Cost of Revenue	$75M
GROSS PROFIT	$138M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$14M
SG&A Expenses	$14M
Other Expenses	$0
Operating Expenses	$14M
Cost & Expenses	$89M
OPERATING INCOME	$124M
Interest Income	$222M
Interest Expense	$75M
Other Income/Expenses	$0
INCOME BEFORE TAX	$124M
Income Tax Expense	$4M
Net Income from Continuing Ops	$119M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$119M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$119M
D&A	$0
EBIT	$124M
EBITDA	$124M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$213M
Cost of Revenue	$75M
GROSS PROFIT	$138M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$14M
SG&A Expenses	$14M
Other Expenses	$0
Operating Expenses	$14M
Cost & Expenses	$89M
OPERATING INCOME	$124M
Interest Income	$222M
Interest Expense	$75M
Other Income/Expenses	$0
INCOME BEFORE TAX	$124M
Income Tax Expense	$4M
Net Income from Continuing Ops	$119M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$119M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$119M
D&A	$0
EBIT	$124M
EBITDA	$124M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$119M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$10M
Change in Working Capital	$3M
OPERATING CASH FLOW	$113M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$1.6B
Sales/Maturities of Investments	$1.5B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$140M
Net Debt Issuance	$129M
Common Stock Repurchased	$0
Common Dividends Paid	-$114M
Other Financing Activities	$0
NET CASH FROM FINANCING	$14M
FREE CASH FLOW	$113M
Net Change in Cash	-$13M

Balance Sheet

Item	Amount
Cash & Equivalents	$54M
Short-Term Investments	$0
Net Receivables	$83M
Inventory	$0
Other Current Assets	$60M
TOTAL CURRENT ASSETS	$196M
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$2.4B
Tax Assets	$0
Other Non-Current Assets	$5M
TOTAL NON-CURRENT ASSETS	$2.4B
TOTAL ASSETS	$2.6B
Account Payables	$43M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$30M
TOTAL CURRENT LIABILITIES	$102M
Long-Term Debt	$1.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$1.4B
TOTAL LIABILITIES	$1.5B
Common Stock	$65.0K
Additional Paid-In Capital	$1.2B
Retained Earnings	-$20M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$2.6B
Total Debt	$1.4B
Net Debt	$1.3B