Does Runway Growth Finance Corp. 8.00% Notes due 2027 have an economic moat?
Not clearly
Runway Growth Finance Corp. 8.00% Notes due 2027 earns 4.9% a year on the money invested in it, a return competitors could match.
The numbers behind it
Return on invested capital, average of recent years4.9%
Return on invested capital, latest year0.9%
Gross margin65.5%Share of each sale left after production costs
Net margin-2.6%
How we decide
A moat shows up in the numbers as high returns that last. We call it likely when the average return on invested capital over recent years is at least 15% and the gross margin at least 40%, and possible from 10%. The numbers can't show where a moat comes from (brand, network, patents), only that one seems to exist.
More questions about Runway Growth Finance Corp. 8.00% Notes due 2027
Data as of Mar 4, 2026.