Bain Capital Specialty Finance (BCSF) Financial Statements & Analysis

Bain Capital Specialty Finance (BCSF) Income Statement

Bain Capital Specialty Finance reported revenue of $273.24M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 28.4% from $212.88M a year earlier. Net income was $98.76M, down 17.3% year over year, a net margin of 36.1%. Gross margin was 67.3% and operating margin 66.2%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $17.34M, down 64.9% from the same quarter a year earlier.

Bain Capital Specialty Finance Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Bain Capital Specialty Finance, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	273.24	212.88	137.99	168.83	197.39	77.22	161.04	73.59	24.51
Cost of Revenue	55.31	74.69	80.01	52.32	51.35	63.31	66.33	0.51	3.71
Gross Profit	183.89	138.19	297.79	116.51	197.39	13.91	94.71	73.08	20.80
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	67.31	14.30	11.26	9.44	58.18	8.75	7.62	3.82	2.74
Operating Expenses	2.99	14.30	11.26	10.19	58.18	5.40	-3.37	19.35	3.07
Operating Income	180.90	123.89	224.98	106.32	139.22	8.51	98.09	69.26	18.15
Other Income/Expense
Interest Income	273.24	222.24	228.55	166.27	167.34	174.20	179.92	0.00	-0.33
Interest Expense	80.59	74.69	80.01	52.32	-51.35	63.31	66.33	24.01	3.62
Other Income/Expense	-78.39	0.00	0.00	0.00	0.00	0.00	0.00	-42.62	1.15
Income
Income Before Tax	102.51	123.89	126.73	106.32	119.94	8.51	98.09	26.65	19.30
Income Tax Expense	3.75	4.48	3.36	0.84	0.13	0.23	0.00	0.00	0.00
Net Income	98.76	119.42	123.38	105.48	119.81	8.28	98.09	26.65	19.30
Net Income - Continuous Operations	98.76	119.42	123.38	105.48	119.81	8.28	98.09	26.65	19.30
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	183.09	123.89	126.73	106.32	119.94	8.51	98.09	50.66	22.91
EBIT	205.93	213.84	224.98	155.86	139.22	149.37	-	-	-
Depreciation & Amortization	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	5.28
Earnings Per Share
Basic EPS	2.00	2.00	2.00	2.00	2.00	-	2.00	1.00	1.00
Diluted EPS	2.00	2.00	2.00	2.00	2.00	-	2.00	1.00	1.00
Basic Shares Outstanding	64.82	64.56	64.56	64.56	64.56	58.67	52.33	39.11	19.82
Diluted Shares Outstanding	64.82	64.56	64.56	64.56	64.56	58.67	52.33	39.11	19.82

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Bain Capital Specialty Finance Financial Statements

What was Bain Capital Specialty Finance's revenue in fiscal 2025?

Bain Capital Specialty Finance reported revenue of $273.24M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 28.4% from $212.88M a year earlier.

Is Bain Capital Specialty Finance profitable?

Yes. Bain Capital Specialty Finance earned net income of $98.76M in fiscal 2025, a net margin of 36.1%. In fiscal 2024 it earned $119.42M.

What is Bain Capital Specialty Finance's operating margin?

Bain Capital Specialty Finance's operating income was $180.90M on revenue of $273.24M in fiscal 2025, an operating margin of 66.2%, compared with 58.2% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition