Runway Growth Finance Corp (RWAY) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Runway Growth Finance Corp stock $11.37, price $6.69, upside +70.0%, quality 60 out of 100. Rating: strongly undervalued. Calculated from audited financials with 11 of our 26 valuation models and 37 quality factors, updated daily.
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Runway Growth Finance Corp
RWAY · USThe stock costs 41% less than our calculation considers fair.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range $5.01 – $9.17 · fair‑value band $3.46 – $18.56 · the $6.69 price screens below the $11.37 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Company profile
Runway Growth Finance Corp. is a business development company specializing investments in senior-secured loans to late stage and growth companies.
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It prefers to make investments in companies engaged in the technology, life sciences, healthcare and information services, business services and select consumer services and products sectors.
It prefers to investments in companies engaged in electronic equipment and instruments, systems software, hardware, storage and peripherals and specialized consumer services, application software, healthcare technology, internet software and services, data processing and outsourced services, internet retail, human resources and employment services, biotechnology, healthcare equipment and education services.
It invests in senior secured loans between $10 million and $75 million.
Stock analysis
Runway Growth Finance Corp (RWAY) currently trades at $6.69, while our model-based Fair Value estimate is $11.37, implying the stock looks roughly 41% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of $83.95 per share, and 11 of the 11 models we run sit above the $6.69 price.
Bear case: the Asset-Based group reads lowest at $7.75, and 0 of the 11 models stay below the price. Data coverage for this calculation is high.
Scenario range: $3.46 (bear) to $18.56 (bull), the price of $6.69 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 60/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Runway Growth Finance Corp reported revenue of $140M in FY2025 versus $51.7M in FY2021, a compound +28.3%/yr. Reported net income was $34.0M in FY2025, compounding −7.1%/yr from FY2021.
Key figures
Market cap $281M Micro · P/E ratio 23.1 · P/S ratio 2.05 · EPS (TTM) $0.2900 · Net margin 7.6% · Return on equity 2.1% · Return on assets (EBIT) 5.6% (5-year average) · Operating margin 71.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (medium confidence).
What moves the price
The share trades about 20% below its 52-week high and 34% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −16% fair-value upside, at 70%, RWAY screens cheaper than that median.
Fair Value models
All 11 models by family
The fair value above starts from this blend and is adjusted for dilution from new shares.
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Insider trades
In the last 6 months, 5 officers or directors bought shares worth $259,590, most recently on Sep 22, 2026. Buying cluster
- BuyEdward J. GoldthorpeDirector10,000 shares at $6.75$67,450Sep 22, 2026
- BuyMichael RovnerCo-Chief Executive Officer7,000 shares at $6.57$45,990Sep 9, 2026
- BuyR David SprengPresident and Co-CEO, Director2× since May 20, 2026: 4,000 shares, avg. $6.50$26,000Aug 14, 2026
- BuyCarmela ThomsonCFO, Treasurer and Secretary8,000 shares at $6.97$55,760Aug 13, 2026
- BuyThomas B. RatermanCFO, COO10,000 shares at $6.44$64,390May 20, 202610b5-1 plan
- SaleCarlson Capital, L.P.10% owner560,105 shares at $6.59$3.7MApr 9, 2026
- SaleOaktree Capital Group Holdings GP, LLC10% owner1,250,000 shares at $9.05$11.3MNov 17, 2025
Plus 3 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Source: SEC Form 4, as of Nov 6, 2026. All filings at the SEC ↗
Revenue & earnings trend
Watch RWAY, get fair value alerts →
Earlier news
- Runway Growth Finance Corp. Announces Date for Third Quarter 2026 Financial Results and Conference Call
- Zacks Industry Outlook Highlights Goldman Sachs BDC, Gladstone Investment and Runway Growth Finance
- Runway Growth Finance to refinance $33M debt via notes offering
- Runway Growth Finance Q2 Earnings Call Highlights
Compare Runway Growth Finance Corp with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Asset Management · 587 stocks
Valuation Multiplesvs Asset Management median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Revenue growth by industry
- PEG ratio by industry
- PEG screener for stocks with fair value
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Asset Management stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Exor N.V EXO | €74.35 | €139.37 | +87% | vs RWAY |
| Raymond James Financial, Inc RJF | $162.81 | $281.42 | +73% | vs RWAY |
| Apollo Global Management, Inc APO | $116.75 | $197.52 | +69% | vs RWAY |
| Ameriprise Financial, Inc AMP | $501.49 | $609.56 | +22% | vs RWAY |
| State Street Corporation STT | $165.56 | $139.37 | −16% | vs RWAY |
| Ares Management Corporation ARES | $133.98 | $99.35 | −26% | vs RWAY |
| Northern Trust Corporation NTRS | $172.76 | $123.42 | −29% | vs RWAY |
| Brookfield Asset Management Ltd BAM | $52.95 | $31.26 | −41% | vs RWAY |
| Blackstone Inc BX | $119.50 | $52.29 | −56% | vs RWAY |
| KKR & Co KKR | $96.48 | $27.32 | −72% | vs RWAY |
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