Runway Growth Finance Corp. (RWAY) Key Metrics
RWAY valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $265.3M
- Enterprise value
- $948.3M
- P/E (TTM)
- 26.4 10-yr median 11.1
- Forward P/E
- 5.1
- PEG ratio
- 1.16
- Price / sales
- 2.0 10-yr median 5.4
- Price / book
- 0.6 10-yr median 0.8
- EV / EBITDA
- — 10-yr median 12.6
- Dividend yield
- 20.85% $1.32 a year
- Beta
- 0.63
RWAY key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsRWAY valuation Price multiples at each fiscal year-end price.
RWAY returns How much profit the business earns on the capital it uses.
RWAY per-share figures Results divided by the shares outstanding at year-end.
RWAY financial health Debt, liquidity and how easily interest is covered.
RWAY efficiency & capital use Working capital cycle and where the cash goes.
RWAY valuation history
RWAY returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
RWAY debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
RWAY cash returned to shareholders
RWAY price vs earnings per share
RWAY key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $327.7M | $425.8M | $511.2M | $474.9M | $507.6M | — | — | — | — | — |
| Enterprise value | $759.5M | $972.4M | $1.02B | −$96.9M | $582.4M | — | — | — | — | — |
| P/E ratio | 9.6 | 5.8 | 11.5 | 14.7 | 11.1 | — | — | — | — | — |
| Price / sales | 2.3 | 3.4 | 5.4 | 8.6 | 9.8 | — | — | — | — | — |
| Price / book | 0.7 | 0.8 | 0.9 | 0.8 | 0.8 | — | — | — | — | — |
| Price / free cash flow | 1.8 | 8.4 | 4.5 | — | — | — | — | — | — | — |
| Price / operating cash flow | 1.8 | 8.4 | 4.5 | — | — | — | — | — | — | — |
| EV / sales | 5.4 | 7.8 | 10.8 | -1.8 | 11.3 | — | — | — | — | — |
| EV / EBITDA | 9.9 | 13.2 | 21.5 | — | 12.0 | — | — | — | — | — |
| EV / free cash flow | 4.1 | 19.3 | 9.1 | — | — | — | — | — | — | — |
| Earnings yield | 10.4% | 17.3% | 8.7% | 6.8% | 9.0% | — | — | — | — | — |
| Free cash flow yield | 56.9% | 11.9% | 22.0% | −75.8% | −12.1% | — | — | — | — | — |
| Dividend yield | 15.7% | 16.4% | 14.3% | 10.9% | 3.5% | — | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 19.5% | 24.8% | 14.6% | 13.1% | 44.9% | — | — | — | — | — |
| Share price at fiscal year-end | $8.93 | $10.96 | $12.62 | $11.59 | $12.82 | — | — | — | — | — |
| Per share | ||||||||||
| Revenue per share | $3.82 | $3.20 | $2.33 | $1.35 | $1.31 | $1.24 | $0.77 | $0.34 | — | — |
| Earnings per share | $0.93 | $1.89 | $1.09 | $0.79 | $1.15 | $1.14 | $0.67 | $0.28 | — | — |
| Operating cash flow per share | $5.08 | $1.30 | $2.78 | −$8.78 | −$1.55 | −$2.56 | −$3.23 | −$4.18 | — | — |
| Free cash flow per share | $5.08 | $1.30 | $2.78 | −$8.78 | −$1.55 | −$2.56 | −$3.23 | −$4.18 | — | — |
| Cash per share | $0.50 | $0.15 | $0.07 | $27.35 | $0.12 | $0.36 | $1.11 | $1.99 | — | — |
| Book value per share | $13.22 | $13.25 | $13.50 | $14.06 | $15.31 | $11.27 | $9.09 | $7.45 | — | — |
| Tangible book value per share | $13.22 | $13.25 | $13.50 | $14.06 | $15.31 | $11.27 | $9.09 | $7.45 | — | — |
| Dividends per share | $1.40 | $1.80 | $1.81 | $1.26 | $0.45 | $0.18 | $0.20 | $0.03 | — | — |
| Capex per share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — |
| Debt per share | $12.26 | $14.22 | $12.59 | $13.40 | $2.01 | $2.35 | $1.45 | $3.36 | — | — |
| Shares outstanding | 36.7M | 38.9M | 40.5M | 41.0M | 39.6M | 41.4M | 41.4M | 41.4M | — | — |
| Change in shares outstanding | −5.5% | −4.1% | −1.1% | +3.5% | −4.3% | 0.0% | 0.0% | — | — | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 6.8% | 13.9% | 7.9% | 5.5% | 8.5% | 11.2% | 8.1% | 5.4% | −2.2% | −26.0% |
| Return on invested capital (ROIC) | 6.1% | 5.5% | 4.2% | 4.7% | 7.2% | 10.0% | 3.7% | 5.1% | — | −0.0% |
| Return on assets (ROA) | 3.3% | 6.8% | 4.0% | 3.4% | 6.6% | 8.1% | 8.4% | 8.2% | −1.9% | −25.5% |
| Return on tangible assets | 3.5% | 6.7% | 4.1% | 2.8% | 6.2% | 7.3% | 5.4% | 8.5% | −1.0% | −25.5% |
| Free cash flow margin | 132.9% | 40.6% | 119.0% | −652.6% | −118.4% | −206.5% | −421.5% | — | −3.7% | — |
| Income quality (OCF / net income) | 5.47 | 0.69 | 2.54 | −11.16 | −1.34 | −2.26 | −4.83 | −14.71 | — | — |
| Financial health | ||||||||||
| Total debt | $449.9M | $552.3M | $510.1M | $549.0M | $79.5M | $97.4M | $60.0M | $138.9M | — | — |
| Cash & short-term investments | $18.2M | $5.8M | $3.0M | $1.12B | $4.7M | $14.9M | $45.8M | $82.5M | $8.1M | $1.0M |
| Net debt | $431.7M | $546.6M | $507.1M | −$571.7M | $74.8M | $82.5M | $14.2M | $56.4M | −$8.1M | −$1.0M |
| Debt / equity | 0.93 | 1.07 | 0.93 | 0.95 | 0.13 | 0.21 | 0.16 | 0.45 | — | — |
| Debt / assets | 0.47 | 0.51 | 0.47 | 0.48 | 0.11 | 0.15 | 0.12 | 1.00 | — | — |
| Net debt / EBITDA | 5.63 | 7.43 | 10.71 | −17.73 | 1.54 | 1.76 | 0.51 | 4.59 | — | — |
| Current ratio | 1.22 | 1.79 | 1.66 | 181.23 | 0.18 | 0.26 | 0.64 | 0.60 | 4.21 | 69.55 |
| Quick ratio | 1.22 | 1.79 | 1.66 | 179.22 | −1.00 | −1.01 | −1.69 | 2.79 | 4.21 | 69.55 |
| Interest coverage | 1.8 | 1.7 | 1.1 | 2.3 | 17.9 | 44.1 | 23.3 | 23.1 | — | -1.2 |
| Working capital | $4.6M | $6.1M | $4.5M | $1.12B | −$37.0M | −$52.1M | −$26.8M | −$56.9M | $61.8M | $4.1M |
| Invested capital | $916.7M | $1.06B | $1.05B | $4.3M | $681.0M | $548.8M | $390.5M | $364.8M | $118.9M | $2.4M |
| Tangible asset value | $485.0M | $514.9M | $547.1M | $576.1M | $606.2M | $466.2M | $376.3M | $138.9M | $130.0M | $3.5M |
| Net current asset value | −$449.4M | −$562.6M | −$520.8M | $561.7M | −$124.1M | −$155.6M | −$91.7M | $83.8M | $61.8M | $4.1M |
| Graham number | $16.61 | $23.77 | $18.24 | $15.78 | $19.92 | $16.97 | $11.69 | $6.90 | — | — |
| Graham net-net per share | −$12.30 | −$14.53 | −$12.91 | $13.82 | −$2.51 | −$2.71 | −$0.12 | −$1.71 | — | — |
| Capital allocation | ||||||||||
| Dividends paid | $51.4M | $69.9M | $73.3M | $51.6M | $17.9M | $7.3M | $8.2M | $1.4M | — | — |
| Share buybacks (net) | $12.5M | $36.0M | $1.5M | $10.8M | $210.0M | $0 | — | — | — | — |
| Dividend payout ratio | 151.1% | 94.9% | 165.4% | 160.0% | 39.3% | 15.5% | 29.6% | 12.1% | — | — |
| Dividends + buybacks / free cash flow | 34.3% | 209.6% | 66.6% | — | — | — | — | — | — | — |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Capex / operating cash flow | 0.0% | 0.0% | 0.0% | — | — | — | — | — | — | — |
| Capex / depreciation | — | — | 0.00 | 0.00 | — | 0.00 | — | — | — | 0.00 |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| SG&A / revenue | 1.6% | 4.8% | 7.8% | 10.6% | 8.7% | 7.1% | 10.9% | 15.0% | 22.3% | — |
| Efficiency | ||||||||||
| Days sales outstanding | 20.5 | 24.1 | 29.0 | 30.2 | 19.1 | 19.1 | 20.8 | 20.7 | 0.0 | — |
| Days of inventory on hand | — | — | — | 867.5 | 1,304.2 | 3,297.9 | -1,740.2 | -8,743.5 | — | — |
| Days payables outstanding | 87.7 | 69.1 | 61.3 | 679.9 | 1,060.5 | 1,814.1 | 983.9 | 541.1 | — | — |
| Cash conversion cycle (days) | -67.2 | -45.0 | -32.3 | 217.7 | 262.7 | 1,502.8 | -2,703.3 | -9,264.0 | — | — |
| Receivables turnover | 17.82 | 15.14 | 12.59 | 12.11 | 19.12 | 19.08 | 17.57 | 17.63 | 9,639.13 | — |
| Payables turnover | 4.16 | 5.28 | 5.95 | 0.54 | 0.34 | 0.20 | 0.37 | 0.67 | 0.00 | — |
| Inventory turnover | — | — | — | 0.42 | 0.28 | 0.11 | — | — | 0.00 | — |
| Asset turnover | 0.14 | 0.11 | 0.09 | 0.06 | 0.08 | 0.09 | 0.10 | 0.10 | 41.74 | 0.00 |
| Average receivables | $7.9M | $8.2M | $7.5M | $4.6M | $2.7M | $2.7M | $1.8M | $796,790 | $330,926 | — |
| Average payables | $7.2M | $7.3M | $6.5M | $25.6M | $57.6M | $72.6M | $37.6M | $9.5M | $19.0M | — |
| Average inventory | — | — | — | $32.7M | $70.8M | $132.0M | −$66.5M | −$154.1M | $1 | — |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from RWAY's annual financial statements (latest annual report filed March 12, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
RWAY valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Runway Growth Finance traded at 9.6 times earnings, against a 10-year median of 11.1. Based on the latest twelve months, the trailing P/E is 26.4 and the forward P/E is 5.1. Runway Growth Finance earned a return on equity of 6.8% and a return on invested capital of 6.1% in fiscal 2025. It ended the year with $449.9 million of debt and $18.2 million in cash and short-term investments, net debt of $431.7 million. It returned $63.9 million to shareholders: $51.4 million in dividends and $12.5 million in share buybacks, 34% of free cash flow.
See the RWAY income statement, the RWAY chart for price history, or the RWAY stock overview for the latest quote and news.
RWAY key metrics FAQ
What is Runway Growth Finance's P/E ratio?
Runway Growth Finance's trailing P/E ratio is 26.4 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 5.1. At the end of fiscal 2025 it was 9.6, compared with a 10-year median of 11.1.
What is Runway Growth Finance's EV/EBITDA?
Runway Growth Finance's enterprise value was 9.9 times EBITDA at the end of fiscal 2025 (enterprise value $759.5 million, EBITDA $76.7 million).
What is Runway Growth Finance's return on equity?
Runway Growth Finance's return on equity (ROE) was 6.8% in fiscal 2025: net income of $34.0 million on average shareholders' equity of $499.9 million.
What is Runway Growth Finance's ROIC?
Runway Growth Finance's return on invested capital was 6.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Runway Growth Finance have?
Runway Growth Finance had total debt of $449.9 million at the end of fiscal 2025, a debt-to-equity ratio of 0.93 and $431.7 million of net debt (5.63 times EBITDA).
What is Runway Growth Finance's dividend yield?
Runway Growth Finance's forward dividend yield is 20.85%. Runway Growth Finance paid $51.4 million in dividends in fiscal 2025 ($1.40 per share), a payout ratio of 151.1%.
Does Runway Growth Finance buy back its shares?
Yes. Runway Growth Finance spent $12.5 million on net share repurchases in fiscal 2025 Shares outstanding changed −5.5% over the year, to 36.7M..
What is Runway Growth Finance's free cash flow yield?
Runway Growth Finance generated $186.3 million of free cash flow in fiscal 2025, a free cash flow yield of 56.9% on its market value at year-end ($327.7 million).
What is Runway Growth Finance's current ratio?
Runway Growth Finance's current ratio was 1.22 at the end of fiscal 2025: current assets were 1.22 times current liabilities.