Bain Capital Specialty Finance Inc
NYSE: BCSF · FINANCIAL SERVICES · ASSET MANAGEMENT
Updated 2026-06-05
Bain Capital Specialty Finance Inc (BCSF) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.12M | $24.51M | $73.59M | $94.71M | $13.91M | $124.06M | $116.51M | $218.00M | $212.88M | $239.19M |
| Revenue growth (YoY) | — | +1057.9% | +200.3% | +28.7% | -85.3% | +791.9% | -6.1% | +87.1% | -2.3% | +12.4% |
| Cost of revenue | $923610.00 | $3.71M | $514037.00 | $107.76M | $36.34M | $49.56M | $54.24M | $80.01M | $74.69M | $55.31M |
| Gross profit | $2.12M | $20.80M | $73.08M | $94.71M | $13.91M | $124.06M | $116.51M | $137.99M | $138.19M | $183.89M |
| Gross margin | 100.0% | 84.8% | 99.3% | 100.0% | 100.0% | 100.0% | 100.0% | 63.3% | 64.9% | 76.9% |
| R&D | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — |
| SG&A | $602544.00 | $2.46M | $3.54M | $7.62M | $8.75M | $8.62M | $9.44M | $11.26M | $14.30M | $11.28B |
| Operating income | $619619.00 | $18.15M | $69.26M | $98.08M | $8.51M | $119.94M | $158.63M | $126.73M | $123.89M | $180.90M |
| Operating margin | 29.3% | 74.1% | 94.1% | 103.6% | 61.2% | 96.7% | 136.2% | 58.1% | 58.2% | 75.6% |
| EBITDA | $619619.00 | $22.91M | $50.66M | $98.08M | $8.53M | $92.01M | $158.96M | $126.73M | $123.89M | $183.09M |
| EBITDA margin | 29.3% | 93.5% | 68.8% | 103.6% | 61.3% | 74.2% | 136.4% | 58.1% | 58.2% | 76.5% |
| EBIT | $619619.00 | $17.63M | $-15.51M | $98.08M | $8.51M | $119.94M | $158.63M | $189.58M | $213.84M | — |
| Interest expense | $10644.00 | $3.62M | $24.01M | $66.33M | $63.31M | $51.34M | $52.32M | $80.01M | $74.69M | $80.58M |
| Income tax | $635990.00 | $4882.00 | $309.00 | $84.70M | $232000.00 | $134000.00 | $837000.00 | $3.36M | $4.47M | — |
| Effective tax rate | 51.1% | 0.0% | 0.0% | 46.3% | 2.7% | 0.1% | 0.8% | 2.6% | 3.6% | 0.0% |
| Net income | $608975.00 | $19.30M | $26.64M | $98.08M | $8.28M | $119.81M | $105.48M | $123.38M | $119.42M | $98.76M |
| Net income growth (YoY) | — | +3069.3% | +38.1% | +268.1% | -91.6% | +1347.3% | -12.0% | +17.0% | -3.2% | -17.3% |
| Profit margin | 28.8% | 78.7% | 36.2% | 103.6% | 59.5% | 96.6% | 90.5% | 56.6% | 56.1% | 41.3% |
Frequently asked questions
What is Bain Capital Specialty Finance Inc's revenue?
Bain Capital Specialty Finance Inc's trailing twelve-month revenue is $272.57M. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is BCSF?
In its most recent fiscal year, BCSF ran a gross margin of 76.88%, an operating margin of 75.63%, and a net margin of 41.29%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does BCSF generate?
BCSF produced $29.52M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is BCSF's balance sheet healthy?
BCSF holds $58.91M in cash and equivalents against — in long-term debt, on $1.12B of shareholder equity. That debt is best read against the cash flow the business throws off each year.