Bain Capital Specialty Finance, Inc. Financial Ratios — BCSF

Profitability (USD)

	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	1.1	6.25	3.53	9.71	0.79	11.05	9.52	10.95	10.49	8.75
Return on Assets (%)	- -	0.69	3.31	1.92	4.42	0.32	4.63	4.09	4.87	4.68	3.73
Return on Capital (%)	- -	0.72	4.06	3.9	4.64	0.32	4.75	4.21	5.04	4.85	3.86
Return on Invested Capital (%)	- -	- -	3.22	5.34	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	- -	100	80.88	-32.5	100	100	100	100	100	100	100
EBITDA Margin (%)	- -	- -	93.44	350.09	- -	- -	- -	- -	- -	- -	- -
Operating Margin (%)	- -	- -	93.44	350.09	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	103.7	14,198.02	-92.44	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	- -	31.68	99.39	134.68	103.56	61.18	96.68	91.25	91.84	89.65	89.52
Profit Margin (%)	- -	31.68	99.36	134.68	103.56	59.51	96.57	90.54	89.41	86.42	86.24
Net Income to Common Margin (%)	- -	31.68	99.36	134.68	103.56	59.51	96.57	90.54	89.41	86.42	86.24
Effective Tax Rate (%)	- -	- -	0.03	- -	- -	2.73	0.11	0.79	2.65	3.61	3.66
Dvd Payout Ratio (%)	- -	- -	40.19	153.77	82.83	1,041.97	73.29	83.24	80.59	95.69	147.65
Sustainable Growth Rate (%)	- -	1.1	3.74	-1.9	1.67	-7.47	2.95	1.6	2.13	0.45	-4.17

Credit (USD)

Credit Ratios API ChatGPT

	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	- -	59	451	635	1,575	1,458	1,415	1,385	1,256	1,390	1,471
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	- -	59	451	635	1,575	1,458	1,415	1,385	1,256	1,390	1,471
Total Debt/EBITDA	- -	- -	24.85	9.17	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBITDA	- -	- -	17.09	8.95	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBIT	- -	- -	24.85	9.17	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	17.09	8.95	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	5.02	2.88	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	5.02	2.88	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	5.02	2.88	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	4	24	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	- -	62.39	51.3	55.93	38.49	41.02	42.78	43.06	45.97	43.3	41.97
Long-Term Debt/Equity (%)	- -	53.56	88.96	63.39	154.62	136.55	128.63	124.09	110.51	121.99	131.63
Long-Term Debt/Capital (%)	- -	34.88	47.08	38.8	60.73	57.73	56.26	55.37	52.5	54.95	56.83
Long-Term Debt/Total Assets (%)	- -	33.42	45.64	35.45	59.52	56.02	55.03	53.44	50.8	52.82	55.24
Total Debt/Equity (%)	- -	53.56	88.96	63.39	154.62	136.55	128.63	124.09	110.51	121.99	131.63
Total Debt/Capital (%)	- -	34.88	47.08	38.8	60.73	57.73	56.26	55.37	52.5	54.95	56.83
Total Debt/Total Assets (%)	- -	33.42	45.64	35.45	59.52	56.02	55.03	53.44	50.8	52.82	55.24
Net Debt to Equity	- -	-60.48	61.16	61.86	-3.67	-5.12	-10.67	-5.35	-4.35	-4.7	-2.35
Net Debt/Capital (%)	- -	-64.97	37.95	38.22	-1.46	-2.21	-4.9	-2.45	-2.11	-2.16	-1.02
EBITDA	- -	- -	18	69	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx	- -	- -	18	69	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	- -	- -	18	69	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	- -	- -	4.65	0.1	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	4.98	0.38	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	4.83	0.21	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	-46.05	-8.38	-3.14	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	- -	62.39	51.3	55.93	38.49	41.02	42.78	43.06	45.97	43.3	41.97
Long-Term Debt/Equity (%)	- -	53.56	88.96	63.39	154.62	136.55	128.63	124.09	110.51	121.99	131.63
Long-Term Debt/Capital (%)	- -	34.88	47.08	38.8	60.73	57.73	56.26	55.37	52.5	54.95	56.83
Long-Term Debt/Total Assets (%)	- -	33.42	45.64	35.45	59.52	56.02	55.03	53.44	50.8	52.82	55.24
Total Debt/Equity (%)	- -	53.56	88.96	63.39	154.62	136.55	128.63	124.09	110.51	121.99	131.63
Total Debt/Capital (%)	- -	34.88	47.08	38.8	60.73	57.73	56.26	55.37	52.5	54.95	56.83
Total Debt/Total Assets (%)	- -	33.42	45.64	35.45	59.52	56.02	55.03	53.44	50.8	52.82	55.24
CFO/Total Liabilities	- -	-151.5	-144.9	-98.08	-14.92	5.82	18.05	-21.46	16.41	-1.82	1.91
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	- -	- -	0.23	0.71	0.41	0.26	0.41	0.33	0.47	0.5	0.37

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Sales Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	0.24	0.31	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	1,541.35	1,189.86	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	-1,541.35	-1,189.86	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	- -	876	1,035	783	982	768	973	1,131	902
- Cash & Cash Equivalents	- -	67	141	15	37	55	117	60	49	54	26
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	59	451	635	1,575	1,458	1,415	1,385	1,256	1,390	1,471
Enterprise Value	- -	-8	310	1,495	2,572	2,187	2,280	2,094	2,179	2,468	2,347
Total Capital	- -	169	958	1,637	2,593	2,526	2,515	2,502	2,392	2,530	2,588
Total Debt/Capital (%)	- -	34.88	47.08	38.8	60.73	57.73	56.26	55.37	52.5	54.95	56.83
Total Debt / EV	- -	-7.74	1.45	0.42	0.61	0.67	0.62	0.66	0.58	0.56	0.63
EV/Sales	- -	- -	15.96	75.57	27.16	157.21	18.37	17.97	15.79	17.86	20.5
EV/EBITDA	- -	- -	17.09	21.59	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	17.09	21.59	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	24.46	8.58	- -	9.94	- -	79.49
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	24.46	8.58	- -	9.94	- -	79.49
Diluted Market Cap	- -	- -	- -	656	1,020	712	982	768	973	1,131	902
Diluted Enterprise Value	- -	-8	310	1,276	2,557	2,115	2,280	2,094	2,179	2,468	2,346
EV per Share	- -	- -	5.94	28.64	49.11	33.87	35.31	32.43	33.76	38.22	36.18
TTM Sales	- -	2	19	20	95	14	124	117	138	138	115
TTM EBITDA	- -	- -	18	69	- -	- -	- -	- -	- -	- -	- -
TTM Operating Income	- -	- -	18	69	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	- -	-101	-694	-750	-243	89	266	-317	219	-27	30
TTM Free Cash Flow to Firm	- -	-101	-694	-750	-243	89	266	-317	219	-27	30

Multiples (USD)

Valuation Multiples API ChatGPT

	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	- -	- -	-0.85	-4.2	7.96	3.7	-2.42	4.44	-41.74	30.54
EV/EBIT	- -	- -	17.09	21.59	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	- -	-8	310	1,495	2,572	2,187	2,280	2,094	2,179	2,468	2,347
Low Price	- -	- -	- -	15.14	16.71	7.11	11.8	11.51	11.06	14.75	13.2
EV/Sales	- -	- -	15.96	75.57	27.16	157.21	18.37	17.97	15.79	17.86	20.5
EV/EBITDA	- -	- -	17.09	21.59	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	24.62	10.4	85.97	8.2	7.28	7.89	9.47	9.13
Price/Earnings Average	- -	- -	- -	25.97	10	87.38	8.11	8.83	7.27	8.82	10.16
Price/Earnings High	- -	- -	- -	27.61	11	143.38	8.86	9.97	8.79	9.72	12.61
Price/Earnings Low	- -	- -	- -	22.22	8.79	50.39	6.36	7.05	5.79	7.97	8.66
Price/Book Value	- -	- -	- -	0.87	1.02	0.73	0.89	0.69	0.86	0.99	0.81
Price/Book Value Average	- -	- -	- -	0.92	0.98	0.75	0.88	0.83	0.79	0.92	0.9
Price/Book Value High	- -	- -	- -	0.98	1.07	1.22	0.97	0.94	0.95	1.02	1.12
Price/Book Value Low	- -	- -	- -	0.79	0.86	0.43	0.69	0.67	0.63	0.84	0.77
Price/Tangible Book Value	- -	- -	- -	0.87	1.02	0.73	0.89	0.69	0.86	0.99	0.81
Price/Tangible Book Value Average	- -	- -	- -	0.92	0.98	0.75	0.88	0.83	0.79	0.92	0.9
Price/Tangible Book Value High	- -	- -	- -	0.98	1.07	1.22	0.97	0.94	0.95	1.02	1.12
Price/Tangible Book Value Low	- -	- -	- -	0.79	0.86	0.43	0.69	0.67	0.63	0.84	0.77
Price/Sales	- -	- -	- -	33.15	10.77	51.16	7.92	6.59	7.05	8.19	7.87
Price/Sales Average	- -	- -	- -	34.97	10.35	52	7.83	7.99	6.5	7.62	8.76
Price/Sales High	- -	- -	- -	37.19	11.39	85.33	8.56	9.03	7.86	8.4	10.87
Price/Sales Low	- -	- -	- -	29.93	9.1	29.99	6.14	6.38	5.17	6.89	7.47
Price/Cash Flow	- -	- -	- -	-0.85	-4.2	7.96	3.7	-2.42	4.44	-41.74	30.54
Price/Cash Flow Average	- -	- -	- -	-0.89	-4.04	8.09	3.66	-2.94	4.09	-38.88	33.99
Price/Cash Flow High	- -	- -	- -	-0.95	-4.44	13.27	4	-3.32	4.95	-42.81	42.18
Price/Cash Flow Low	- -	- -	- -	-0.76	-3.55	4.67	2.87	-2.35	3.26	-35.14	28.98
Price/Free Cash Flow Average	- -	- -	- -	-0.89	-4.04	8.09	3.66	-2.94	4.09	-38.88	33.99
Price/Free Cash Flow High	- -	- -	- -	-0.95	-4.44	13.27	4	-3.32	4.95	-42.81	42.18
Price/Free Cash Flow Low	- -	- -	- -	-0.76	-3.55	4.67	2.87	-2.35	3.26	-35.14	28.98
EV/Sales Average	- -	- -	15.96	78.01	26.74	158.14	18.29	19.37	15.24	17.3	21.39
EV/Sales High	- -	- -	15.96	80.96	27.79	194.81	19.02	20.4	16.6	18.07	23.5
EV/Sales Low	- -	- -	15.96	71.27	25.47	133.91	16.6	17.76	13.92	16.56	20.09
EV/EBITDA Average	- -	- -	17.09	22.28	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA High	- -	- -	17.09	23.12	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Low	- -	- -	17.09	20.36	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Average	- -	- -	17.09	22.28	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	17.09	23.12	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	17.09	20.36	- -	- -	- -	- -	- -	- -	- -
Last Price	- -	- -	- -	16.77	19.76	12.13	15.21	11.9	15.07	17.52	13.91
High Price	- -	- -	- -	18.81	20.9	20.23	16.45	16.29	16.8	17.97	19.21
Enterprise Value Average	- -	-8	310	1,543	2,532	2,200	2,269	2,256	2,103	2,390	2,449
Enterprise Value High	- -	-8	310	1,602	2,632	2,710	2,360	2,377	2,291	2,497	2,691
Enterprise Value Low	- -	-8	310	1,410	2,413	1,863	2,059	2,069	1,921	2,289	2,301

Shares Outstanding	51	52	52	52	52	65	65	65	65	65	65
Diluted Weighted Avg Shares	- -	20	20	39	52	59	65	65	65	65	65
Basic Weighted Avg Shares	- -	20	20	39	52	59	65	65	65	65	65
Revenue per Share	- -	0.1	0.98	0.51	1.84	0.24	1.92	1.8	2.14	2.14	1.77
EBITDA per Share	- -	- -	0.92	1.77	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	0.92	1.77	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	- -	0.03	0.97	0.68	1.9	0.14	1.86	1.63	1.91	1.85	1.52
Basic EPS from Cont Ops	- -	0.03	0.97	0.68	1.9	0.14	1.86	1.63	1.91	1.85	1.52
Diluted EPS, GAAP	- -	0.03	0.97	0.68	1.9	0.14	1.86	1.63	1.91	1.85	1.52
Diluted EPS from Cont Ops	- -	0.03	0.97	0.68	1.9	0.14	1.86	1.63	1.91	1.85	1.52
Dividend per Share	- -	- -	0.39	1.05	1.57	1.47	1.36	1.36	1.54	1.77	2.25
Cash Flow per Share	- -	-5.08	-35.18	-19.8	-4.7	1.52	4.11	-4.91	3.4	-0.42	0.46
Free Cash Flow per Basic Share	- -	-5.08	-35.18	-19.8	-4.7	1.52	4.11	-4.91	3.4	-0.42	0.46
Cash & Equivalents per Share	- -	1.28	2.7	0.29	0.71	0.85	1.82	0.93	0.77	0.83	0.4
Book Value per Share	- -	2.11	9.71	19.19	19.44	16.54	17.04	17.29	17.6	17.65	17.23
Tangible Book Value per Share	- -	2.11	9.71	19.19	19.44	16.54	17.04	17.29	17.6	17.65	17.23

Bain Capital Specialty Finance, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)