Bain Capital Specialty Finance, Inc. (BCSF) Stock

Bain Capital Specialty Finance, Inc. (BCSF) is a Financial Services stock trading at $12.38 (as of 2026-07-24), with a market capitalization of $803.07M and a trailing P/E of 10.9. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Bain Capital Specialty Finance, Inc. is a business development company that makes direct loans to middle-market companies, focusing on senior and junior debt and related investments, including first- and second-lien positions and mezzanine and unitranche structures. It also pursues secondary purchases of assets or portfolios primarily consisting of middle-market corporate debt.

Understand Bain Capital Specialty Finance, Inc.: how it makes money

Bain Capital Specialty Finance lends directly to middle-market companies, investing in collateral-secured corporate debt such as senior first lien, senior second lien, unitranche, mezzanine, and related junior and secondary debt purchases.

The company’s returns are driven by the credit performance and payoff economics of its middle-market corporate loan portfolio, which focuses on first or second lien and other secured debt structures entered through new and existing investments.

Business quality (Weak): Clear specialization in direct lending to middle-market borrowers, with operating visibility into how many companies sit in the investment portfolio and how many new investments are added each quarter. Key risk is that performance depends on borrowers’ ability to service and repay debt across a portfolio of many companies.

Valuation: At 11× earnings, BCSF trades 10% above the Asset Management average (10×). Note: one-time items can distort reported P/E.

Bull case

  • Middle-market focus with varied debt structures: Investments include senior investments with first or second lien, unitranche, mezzanine debt, junior securities, and secondary purchases, which gives flexibility in how the fund structures risk and collateral.
  • Operational scale signals portfolio depth: In the latest quarter, the company reported 212 portfolio companies in the investment portfolio, providing a view into portfolio breadth.

Bear case

  • Credit performance is the core dependency: Because the business is direct lending to middle-market companies, investment outcomes are closely tied to borrowers’ credit quality and repayment ability.
  • Portfolio build and risk evolve as new deals are added: The company invested in 13 new portfolio companies in the latest quarter, which can change the risk mix of the overall investment portfolio as conditions fluctuate.
Valuation — source: SEC EDGAR (first-party)
Price$12.38
Market Cap$803.07M
P/E Ratio10.9
Price / Book0.73
Price / Sales2.95
DCF Value (model)$16.51
DCF Upside vs Price33.4%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$273.24M
Net Margin36.1%
Revenue Growth (YoY)-1.0%
EPS Growth (YoY)-88.6%
Valuation vs Sector & Industry
Stock P/E10.9
Sector P/E (Financial Services)8.9
Industry P/E (Asset Management)8.9
vs Sector22.6%
vs Industry22.3%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBain Capital Credit, LP ($146.60M)
Institutional Holders Tracked10
Company
SectorFinancial Services
IndustryAsset Management
CEOMichael Alexander Ewald
Employees0
CountryUS
IPO Date2018-11-15

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BCSF earnings history · BCSF institutional & insider holders · BCSF KPIs & operating metrics · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-07-24.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.