Bain Capital Specialty Finance, Inc. (BCSF) vs MidCap Financial Investment Corporation (MFIC)

Bain Capital Specialty Finance, Inc. and MidCap Financial Investment Corporation are both Asset Management companies. MidCap Financial Investment Corporation is the larger, with a market value of $846.0M against $724.6M — 1.2× the size. MidCap Financial Investment Corporation has negative trailing earnings, so its P/E is not meaningful; Bain Capital Specialty Finance, Inc. trades at 11.3×. Bain Capital Specialty Finance, Inc. grew revenue faster over the last twelve months: −6.95% against −13.6%. Bain Capital Specialty Finance, Inc. has the higher net margin (24.2% vs −26.2%) and the higher return on invested capital (3.01% vs 0.00%). Both pay a dividend; MidCap Financial Investment Corporation yields more (12.7% vs 11.3%). Across the 19 metrics below, Bain Capital Specialty Finance, Inc. leads on 13 and MidCap Financial Investment Corporation on 6.

Valuation

Metric BCSF MFIC Asset Management median
P/E 11.28 n/m 13.38
P/S 2.75 3.02 2.99
P/B 0.67 0.80 0.91
Price to free cash flow 5.42 1.49 7.79
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 8.86% (8.26%) 4.67%
Free cash flow yield 18.43% 66.98% 4.85%

Profitability

Metric BCSF MFIC Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 75.36% 0.00% 27.27%
Net margin 24.22% (26.23%) 11.89%
Free cash flow margin 50.60% 202.48% 5.96%
Return on equity 5.76% (6.06%) 4.57%
Return on assets 2.37% (2.47%) 1.40%
Return on invested capital 3.01% 0.00% 2.12%

Growth

Metric BCSF MFIC Asset Management median
Revenue growth (TTM) (6.95%) (13.64%) 7.26%
EPS growth (last fiscal year) (17.84%) (46.46%) (5.64%)
Revenue growth, 5-year CAGR 7.04% 8.16% 11.84%
Net income growth, 5-year CAGR 64.18% (10.80%) 0.00%

Health

Metric BCSF MFIC Asset Management median
Debt to equity 1.39 1.49 0.40
Current ratio 7.20 3.78 1.23
Net debt to EBITDA 6.85 6.41 1.06

Dividend

Metric BCSF MFIC Asset Management median
Dividend yield 11.28% 12.73% 6.43%
Payout ratio 1.27 — 0.91

Size

Metric BCSF MFIC Asset Management median
Market cap 724.58m 845.97m 692.54m

Compare with another peer

Any metric, up to five companies and an Excel export Powerpack