Stock fact sheet · data as of
Runway Growth Finance Corp. 7.25% Notes due 2031 (RWAYI): fair value, margin of safety and Wheel Score
Ticker symbol RWAYI · Financial Services · Financial - Credit Services · United States · Fund / Note
Is RWAYI undervalued?
Runway Growth Finance Corp. 7.25% Notes due 2031 (RWAYI) closed at 24.81 on 5 Nov 2026, close to the GLS average fair value of 26.78 (7.4% below fair value). 2 of the 7 models that produced a number sit above the price, 5 below - the market and our models roughly agree. With little margin of safety either way, the case for or against the stock rests on the quality numbers and the option premium rather than on price.
The 7 models disagree widely: Lynch gives 3.93 while DCF gives 97.96. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
RWAYI looks like a fund, note or preferred share rather than an operating company, so the nightly engine files it under Fund / Note: the valuation models are not built for it, and its Wheel Score is capped at 45.
Nine valuation models for RWAYI
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 97.96 | +295% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 7.04 | -72% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 13.49 | -46% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 3.93 | -84% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 42.71 | +72% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | - | - | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10%; no value tonight |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | 14.57 | -41% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 7.75 | -69% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -12.35 | -150% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 0.0000 | -100% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
No Piotroski health score is on file for RWAYI (the statements it needs were not available), so the Health part of the Wheel Score counts it at half marks - 10 of 20 - rather than marking the stock down for missing data. There is no GLS Moat score for RWAYI: funds, notes and second share lines get none, and so does a company with fewer than two years of accounts on file. The Moat part of the Wheel Score is zero.
Returns on capital are thin or negative - ROIC 3.6%, ROE 7.0%, ROA 3.5% - with debt at 0.93 times equity and negative free cash flow.
The dividend yield is high at 15.09% (payout ratio 655%) - a payout above 100% of earnings, which is not covered by profits. A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual.
Institutional ownership scores 5/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | - / 9 | ROIC | 3.6% |
|---|---|---|---|
| GLS Moat | - / 10 | ROE | 7.0% |
| Debt / equity | 0.93 | ROA | 3.5% |
| Free-cash-flow yield | -27.4% | Payout ratio | 655% |
| Institutions | 5 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 15: No options
RWAYI has no listed options in the nightly snapshot, so there is nothing to sell and the stock cannot be wheeled however good the business. It fails the first Wheel Trade Filter (options that actually trade), so the score stays under 70 and is shown as "No options" (15 here). The valuation and quality numbers still apply to owning the shares outright.
Volume runs at 4k shares a day on a market cap of $903M, with a beta of 0.63 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | no listed options |
| 2 | A real business, not a gamble | Fails | a fund or note, not a company |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Fails | no implied volatility |
| 8 | Big enough | Fails | market cap $903M (under $1.0B) |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Weak | 7% below fair value | |
| Premium | Weak | no option data | |
| Moat | Weak | no moat score | |
| Health | Fair | no Piotroski score on file - half marks | |
| Red Flags | Fair | not scored yet - half marks | |
| Option trading | Weak | no option volume data | |
| Stability | Fair | beta 0.63, $903M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for RWAYI in the nightly calendar.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Financial - Credit Services
The 12 companies below are the closest to Runway Growth Finance Corp. 7.25% Notes due 2031 by market cap within the Financial - Credit Services industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| NAVI Navient Corporation | 9.07 | 40.08 | +77% | 40Weak | $851M |
| PRAA PRA Group, Inc. | 20.18 | 5.98 | -238% | 34Weak | $760M |
| WRLD World Acceptance Corporation | 161.10 | 319.33 | +50% | 37No options | $751M |
| FINV FinVolution Group | 3.04 | 29.64 | +90% | 39Weak | $747M |
| TRNI Trinity Capital Inc. | 25.15 | 75.63 | +67% | 26No options | $1.1B |
| GDOT Green Dot Corporation | 12.76 | 48.27 | +74% | 48Weak | $727M |
| JCAP Jefferson Capital, Inc. Common Stock | 20.64 | 75.43 | +73% | 49Weak | $1.2B |
| ATLCP Atlanticus Holdings Corporation | 20.88 | 258.14 | +92% | 34No options | $1.3B |
| OPRT Oportun Financial Corporation | 13.01 | 40.48 | +68% | 44Weak | $598M |
| OPFI OppFi Inc. | 6.37 | 53.03 | +88% | 41Weak | $543M |
| ATLCZ Atlanticus Holdings Corporation 9.25% Senior Notes due 2029 | 25.22 | 271.56 | +91% | 28No options | $1.5B |
| ATLCL Atlanticus Holdings Corporation 6.125% Senior Notes due 2026 | 25.02 | 275.65 | +91% | 26No options | $1.5B |
⚖ Compare RWAYI with 7 of them All Financial Services stocks →
Scan the whole market the same way
A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about RWAYI
Is RWAYI undervalued right now?
Not meaningfully: at 24.81 the stock trades within a few percent of the GLS average fair value of 26.78 (7.4% below fair value, data as of 5 Nov 2026).
What is the Wheel Score of RWAYI and what does it mean?
RWAYI has no listed options in our nightly snapshot, so it cannot be wheeled; it fails the first Wheel Trade Filter (options that actually trade), stays under 70 and is shown as "No options".
What is the GLS fair value for RWAYI?
26.78 per share as of 5 Nov 2026 - the simple average of the 7 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Runway Growth Finance Corp. 7.25% Notes due 2031 report earnings next?
No upcoming earnings date is recorded for RWAYI in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does RWAYI have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on RWAYI, so the wheel strategy cannot be run on it and the Wheel Score stays under 70.