BCSF · Bain Capital Specialty Finance, Inc.
Price & Indicators
Raw chart and full-history price indicators begin at the captured split on May 12, 2020; bars on opposite sides are not compared.
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AI Brief
Q1 FY26 earnings call · May 12, 2026TL;DR. BCSF reported Q1 2026 NII per share of $0.42 (10.0% annualized), fully covering the $0.42 regular dividend, but EPS was only $0.05 due to net unrealized losses and NAV per share declined to $16.86 from $17.23 amid a volatile market and AI-related software concerns.
- + NII per share of $0.42 fully covered the regular $0.42 dividend, equating to a 10.0% annualized yield on book value new
- + Non-accrual levels remained low and stable at 1.4% of portfolio at amortized cost (down from 1.5%), with no new investments shifted to non-accrual during the quarter new
- + Q1 new origination spreads averaged approximately 550 bps, with Q2-to-date pricing widening an additional 25-50 bps new
- + Closed $350 million 5.950% unsecured notes due 2031, paired with an interest rate swap, to proactively address near-term 2026 maturities new
- + Software portfolio (~13% of total) shows median adjusted LTV of ~37% and interest coverage of ~2.0x, with management assessing most software holdings as low risk for AI-driven disruption new
- + Net leverage of 1.28x sits at the upper end of the 1.0x-1.25x target range, positioning the company to capitalize on attractive opportunities as repayments continue new
- − EPS of just $0.05, driven by net unrealized losses including $0.27 from spread widening and idiosyncratic credit weakness new
- − NAV per share fell to $16.86 from $17.23 at year-end 2025 new
- − Q1 new investment activity moderated, with net fundings of $(12.2) million versus $243.2 million in gross fundings new
- − Ended quarter at the upper end of the 1.0x-1.25x target net leverage range, limiting near-term capacity to deploy additional capital new
- − Market environment described as challenging, with public market volatility, AI disruption concerns, inflationary pressures, geopolitical uncertainty and retail outflows from private credit vehicles new
- − Exited the Gale Aviation investment during the quarter, contributing to unrealized losses, and saw an increase in one non-accrual name during the quarter new
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Technicals
trend & momentum for long-term holders SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Gross investment fundings | 243.2M | Q1 2026 | — |
| Investments on non-accrual at amortized cost | 1.4% | As of March 31, 2026 | — |
| Investments on non-accrual at fair value | 0.6% | As of March 31, 2026 | — |
| Net asset value per share | $16.86 | As of March 31, 2026 | — |
| Net investment fundings | -12.2M | Q1 2026 | — |
| Number of industries | 30 | As of March 31, 2026 | — |
| Sales and Repayments | 255.4M | Q1 2026 | — |
| Weighted average yield on the investment portfolio at amortized cost | 10.8% | As of March 31, 2026 | — |
| Weighted average yield on the investment portfolio at fair value | 10.9% | As of March 31, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Asset Management — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
BCSF
this stock
Bain Capital Specialty Finance, Inc.
|
$779.72M | -13.6% | — | 12.1 | 2.1% |
|
BLK
BlackRock, Inc.
|
$375.52B | +8.0% | +16.2% | 27.7 | 0.6% |
|
BX
Blackstone Inc.
|
$107.52B | -7.1% | +9.2% | 32.1 | 2.9% |
|
KKR
KKR & Co. Inc.
|
$97.56B | -14.7% | -11.0% | — | 1.4% |
|
BN
BROOKFIELD Corp /ON/
|
$92.02B | -10.2% | — | — | 0.9% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
Raw-price comparisons begin at the captured split on May 12, 2020; windows that need an earlier baseline remain unavailable.
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| BCSF | -0.8% | -5.4% | -3.5% | -3.2% | -13.6% |
| SPY | +0.5% | +3.0% | +13.4% | +3.0% | +12.8% |
| vs SPY | -1.3% | -8.3% | -17.0% | -6.2% | -26.4% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.