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Runway Growth Finance Corp. (RWAY) stock

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NASDAQ: RWAY Nasdaq Asset Management & Custody Banks Next results ~November 5, 2026

Runway Growth Finance Corp. is a US-listed company in the asset management & custody banks industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$12

Forward price-to-earnings vs peers

Base case. Range ~$10–$16. Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings.

Price vs value

No Buy/Hold/Sell rating is issued: limited reported history: available models are shown without a Buy/Hold/Sell rating.

Runway Growth Finance Corp. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders5 buying, 2 selling9 purchases and 2 sales by directors and officers, last 12 monthsInsider trades
  • Funds57 adding, 36 cuttingOf 16 active managers that changed their stake, 8 added; quarter to June 30, 2026Fund buyers and sellers

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 48% in the quarter to 2026-06-30, the 2nd beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

Nothing in Runway Growth Finance Corp.'s latest figures clears our strength thresholds.

Things to watch

  • Heavily shorted. 10.3% of the shares available to trade are sold short (12.0 days of average volume to cover).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.
  • Earnings expected to fall. The consensus expects earnings per share to fall 4% next year.

Latest results

Earnings per share
$0.43 against an average estimate of $0.29: beat by 48.3%
Share reaction
+19.0% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Next report
November 5, 2026; average EPS estimate $0.34

Runway Growth Finance's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.6%
  • 1 week+1.7%
  • 1 month-1.1%
  • This year-16.3%
  • 1 year-21.8%
  • 5 years+1.2%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Earnings

Last results
August 6, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Agreement
  3. Agreement
  4. Results
  5. Announcement
  6. Agreement
  7. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Runway Growth Finance Corp. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: limited reported history: available models are shown without a Buy/Hold/Sell rating.

Valuation models

We value Runway Growth Finance Corp. as an asset manager, broker or exchange, with every model that fits that kind of business. Cost of equity 8.5%: the 10-year Treasury yield (4.9%) plus a beta of 0.78 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$12 ~$10–$16 Primary model, counts double
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: no twelve-month earnings or share count in the filings yet
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: no twelve-month earnings or share count in the filings yet
Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. — Does not apply: no twelve-month earnings or share count in the filings yet
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. — Does not apply: no twelve-month earnings or share count in the filings yet
Combined value Weighted average of the models that apply: the primary model (forward price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$12 ~$10–$16 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Runway Growth Finance Corp. with asset managers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, after the close. Analysts expect revenue of $38m and EPS of $0.34 (range $0.30 to $0.36) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.40 −10% $142m +3%
Next $1.34 −5% $149m +5%

Next year's EPS estimate has moved +3.6% in 90 days, across 8 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +13.1% on 90 days ago. In the last 30 days, 6 analysts raised Runway Growth Finance Corp.'s forecast and 0 cut it.

Consensus EPS forecast Runway Growth Finance Corp., last 90 days
$1.20 $1.25 $1.30 $1.35 $1.40 $1.45 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.24 Current fiscal year, 60 days ago: $1.23 Current fiscal year, 30 days ago: $1.23 Current fiscal year, 7 days ago: $1.40 Current fiscal year, Now: $1.40 $1.40 Next fiscal year, 90 days ago: $1.29 Next fiscal year, 60 days ago: $1.28 Next fiscal year, 30 days ago: $1.28 Next fiscal year, 7 days ago: $1.34 Next fiscal year, Now: $1.34 $1.34

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.24$1.29
60 days ago $1.23$1.28
30 days ago $1.23$1.28
7 days ago $1.40$1.34
Now $1.40$1.34

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.29 $0.43 +48.3%
Mar 2026 $0.31 $0.29 −7.0%
Dec 2025 $0.35 $0.32 −7.4%
Sept 2025 $0.39 $0.43 +10.4%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

8 analysts, Oct 2026
Buy338%
Hold450%
Sell113%

Monthly trend

  1. Oct 20263418
  2. Sep 20263418
  3. Aug 20263418
  4. Jul 20263418

Counts of recommendations published by analysts covering Runway Growth Finance Corp., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
10.3%
of tradable shares
Days to cover
12.04
at average volume
Short interest, 1 month
−1%
to October 15, 2026
Held by institutions
47%
of shares
Held by insiders
1.1%
of shares

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Return and risk by year

Calendar year 20222023202420252026 to date
Return
RWAY−1%+26%+2%−7%−16%
Industry peers (median)−17%+19%+15%−4%−6%
S&P 500−18%+26%+25%+18%+11%
Months that ended higher
RWAY50%58%50%42%27%
S&P 50042%67%75%75%46%
Largest fall from a high during the year
RWAY−24%−20%−21%−23%−40%
S&P 500−25%−10%−8%−19%−9%

Worst fall since October 21, 2021: 45% from July 17, 2025 to June 25, 2026. Getting back needed a 83% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$5.01 – $8.36
From 52-week high
−22.5%
vs 50-day average
−0.9%
vs 200-day average
+2.6%
Volatility (1 year)
33%
Beta vs S&P 500
0.61

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±6.3%
After a week
6 up, 6 down
typical move ±5.6%
After a month
4 up, 8 down
typical move ±9.0%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 +19.0% +0.5% +21.2% +21.4%
May 7, 2026 −4.0% +0.5% −2.1% −7.1%
March 12, 2026 −9.5% −2.1% −4.1% −10.6%
January 26, 2026 −2.5% +0.9% −2.7% −13.1%
November 6, 2025 +1.1% −1.0% +0.5% −2.9%
August 7, 2025 +1.1% +0.7% +0.7% +1.3%
May 12, 2025 +10.1% +4.0% +11.5% +15.4%
March 20, 2025 −1.5% −0.3% +0.9% −13.1%
November 12, 2024 −0.3% −0.3% +1.3% +8.4%
August 8, 2024 −6.5% +2.8% −1.5% −3.4%
May 7, 2024 −6.7% +0.1% −7.1% −4.5%
March 7, 2024 −13.4% +0.4% −13.1% −6.6%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Fundamentals

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms . Generated November 3, 2026. Definitions in our methodology.

Who owns it

Funds buying and selling
Reported value
$115M
Institutions reporting
96
Shares held vs prior quarter
▼ 1.9%
Positions opened / closed
27 / 15

Top buyers and sellers, Q2 2026: 57 institutions bought and 36 sold ; the biggest buyer was Ares Management LLC (+339K shares) and the biggest seller Two Sigma Investments, LP (−608K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Oaktree Capital Management LP $39.4M 7.0M 34.2% 0.0%
Sound Income Strategies, LLC $11.2M 2.0M 9.7% ▲ 8.7%
Ares Management LLC $8.5M 1.5M 7.4% ▲ 28.8%
Hightower Advisors, LLC $7.5M 1.3M 6.5% ▼ 3.7%
Bulldog Investors, LLP $5.7M 1.0M 5.0% ▼ 15.1%
North Ground Capital $4.1M 728K 3.5% ▼ 24.3%
Allium Financial Advisors, LLC $4M 716K 3.5% ▼ 7.8%
Franklin Resources Inc $3.2M 574K 2.8% ▲ 6.3%
Summit Financial, LLC $3M 543K 2.6% ▲ 2.9%
Alpine Global Management, LLC $2.8M 500K 2.4% ▼ 26.6%
Morgan Stanley $2.7M 487K 2.4% ▲ 131.0%
O'Shaughnessy Asset Management, LLC $2.4M 432K 2.1% ▲ 51.9%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Runway Growth Finance Corp.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $259,590 9 trades by 5 insiders, last 12 months Insider sales History → $15M 2 trades by 2 insiders · 0% under pre-set plans
Net ▼ $14.7M net selling
Insider Date Trade Shares Price Value
Goldthorpe Edward J. Director September 22, 2026 Buy 6,251 $6.76 $42,257
Goldthorpe Edward J. Director September 21, 2026 Buy 3,749 $6.72 $25,193
Rovner Michael Co-Chief Executive Officer September 9, 2026 Buy 7,000 $6.57 $45,990
Spreng R David President and Co-CEO August 14, 2026 Buy 1,000 $6.89 $6,890
Thomson Carmela CFO, Treasurer and Secretary August 13, 2026 Buy 8,000 $6.97 $55,760
Spreng R David President and CEO May 20, 2026 Buy 3,000 $6.37 $19,110
Raterman Thomas B. CFO, COO May 20, 2026 Buy pre-set plan 7,000 $6.34 $44,380
Raterman Thomas B. CFO, COO May 14, 2026 Buy pre-set plan 2,900 $6.67 $19,343
Raterman Thomas B. CFO, COO May 14, 2026 Buy pre-set plan 100 $6.67 $667
Carlson Capital, L.P. 10% owner April 9, 2026 Sell 560,105 $6.59 $3.7M
Oaktree Capital Group Holdings Gp, Llc 10% owner November 17, 2025 Sell 1,250,000 $9.05 $11.3M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around October 29, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • March 12, 2026
  • January 26, 2026
  • November 6, 2025
  • August 7, 2025

Recent SEC filings

Data status

When each part of this page on Runway Growth Finance Corp. was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Runway Growth Finance Corp. in brief

What does Runway Growth Finance Corp. do?
Runway Growth Finance Corp. is a US-listed company in the asset management & custody banks industry. Its financial year ends in December.
What is Runway Growth Finance Corp.'s stock ticker?
Runway Growth Finance Corp. trades under the ticker RWAY on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
Who are Runway Growth Finance Corp.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Oaktree Capital Management LP, Sound Income Strategies, LLC and Ares Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Are insiders buying or selling Runway Growth Finance Corp. stock?
Over the last 12 months, Runway Growth Finance Corp.'s directors and officers reported 9 open-market purchases and 2 sales on Form 4. The insider trading page charts every trade.
When is Runway Growth Finance Corp.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Runway Growth Finance Corp. announces its own schedule.