(HTGC) Hercules Capital - Ratings and Ratios
Venture Debt, Growth Capital, Mezzanine Loans, Asset-Based Credit, Bridge Financing
EPS (Earnings per Share)
Revenue
| Risk via 10d forecast | |
|---|---|
| Volatility | 19.6% |
| Value at Risk 5%th | 34.4% |
| Relative Tail Risk | 6.49% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.03 |
| Alpha | -10.69 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.529 |
| Beta | 0.710 |
| Beta Downside | 0.902 |
| Drawdowns 3y | |
|---|---|
| Max DD | 26.63% |
| Mean DD | 7.38% |
| Median DD | 6.65% |
Description: HTGC Hercules Capital November 08, 2025
Hercules Capital Inc. (NYSE: HTGC) is a Business Development Company (BDC) that supplies private-equity-backed growth capital to venture-stage and expansion-stage companies, including select public and special-opportunity issuers that need financing for acquisitions, recapitalizations, or refinancings.
The firm’s product suite spans capital-extension loans, management-buy-out and spin-out financing, asset-based facilities (e.g., receivables, equipment leases), convertible or mezzanine debt, and bridge financing for IPOs, M&A, or technology acquisitions. It also offers revenue-acceleration capital for sales, marketing, and manufacturing expansion.
Hercules primarily invests in structured debt secured by warrants, with a secondary focus on senior debt and equity. Investments are generally made in companies that have operated for at least six to twelve months, emphasizing technology, SaaS, fintech, energy-tech, and sustainable-technology sectors.
Key metrics (as of Q3 2024) show a portfolio net asset value of roughly $4.2 billion, a leverage ratio of 1.8×, and an average portfolio weighted yield of 9.5%. The venture-debt market has been expanding at a 12% CAGR, driven by higher equity valuations and tighter public-market liquidity, which supports Hercules’ business model. Additionally, rising demand for sustainable-tech solutions is boosting deal flow in the firm’s targeted subsectors.
For a deeper, data-driven assessment of HTGC’s valuation and risk profile, you may find ValueRay’s analytics platform useful.
HTGC Stock Overview
| Market Cap in USD | 3,209m |
| Sub-Industry | Asset Management & Custody Banks |
| IPO / Inception | 2005-06-09 |
| Return 12m vs S&P 500 | -8.58% |
| Analyst Rating | 4.0 of 5 |
HTGC Dividends
| Metric | Value |
|---|---|
| Dividend Yield | 9.15% |
| Yield on Cost 5y | 20.33% |
| Yield CAGR 5y | 3.77% |
| Payout Consistency | 95.3% |
| Payout Ratio | 82.9% |
HTGC Growth Ratios
| Metric | Value |
|---|---|
| CAGR 3y | 18.86% |
| CAGR/Max DD Calmar Ratio | 0.71 |
| CAGR/Mean DD Pain Ratio | 2.55 |
| Current Volume | 1137.5k |
| Average Volume | 1290.5k |
Piotroski VR‑10 (Strict, 0-10) 3.0
| Net Income (310.3m TTM) > 0 and > 6% of Revenue (6% = 29.5m TTM) |
| FCFTA -0.16 (>2.0%) and ΔFCFTA -26.00pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 9.97% (prev 4.84%; Δ 5.13pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA -0.07 (>3.0%) and CFO -296.8m <= Net Income 310.3m (YES >=105%, WARN >=100%) |
| Net Debt (-12.7m) to EBITDA (310.7m) ratio: -0.04 <= 3.0 (WARN <= 3.5) |
| Current Ratio 3.95 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (194.4m) change vs 12m ago 20.33% (target <= -2.0% for YES) |
| Gross Margin 82.34% (prev 84.64%; Δ -2.30pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 12.19% (prev 13.28%; Δ -1.09pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 3.57 (EBITDA TTM 310.7m / Interest Expense TTM 86.8m) >= 6 (WARN >= 3) |
Altman Z'' 0.78
| (A) 0.01 = (Total Current Assets 65.6m - Total Current Liabilities 16.6m) / Total Assets 4.41b |
| (B) 0.02 = Retained Earnings (Balance) 88.0m / Total Assets 4.41b |
| (C) 0.08 = EBIT TTM 310.3m / Avg Total Assets 4.03b |
| (D) 0.12 = Book Value of Equity 269.9m / Total Liabilities 2.22b |
| Total Rating: 0.78 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 46.19
| 1. Piotroski 3.0pt |
| 2. FCF Yield -22.39% |
| 3. FCF Margin data missing |
| 4. Debt/Equity 0.01 |
| 5. Debt/Ebitda -0.04 |
| 6. ROIC - WACC (= -2.57)% |
| 7. RoE 14.90% |
| 8. Rev. Trend 14.95% |
| 9. EPS Trend -19.34% |
What is the price of HTGC shares?
Over the past week, the price has changed by -0.51%, over one month by +0.85%, over three months by -6.63% and over the past year by +2.72%.
Is HTGC a buy, sell or hold?
- Strong Buy: 3
- Buy: 3
- Hold: 3
- Sell: 0
- Strong Sell: 0
What are the forecasts/targets for the HTGC price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 20.9 | 19.8% |
| Analysts Target Price | 20.9 | 19.8% |
| ValueRay Target Price | 20.4 | 16.8% |
HTGC Fundamental Data Overview November 17, 2025
P/E Trailing = 10.0977
P/E Forward = 8.9847
P/S = 6.2091
P/B = 1.458
P/EG = 0.5218
Beta = 0.8
Revenue TTM = 491.6m USD
EBIT TTM = 310.3m USD
EBITDA TTM = 310.7m USD
Long Term Debt = unknown (0.0)
Short Term Debt = 16.6m USD (from shortTermDebt, last quarter)
Debt = 16.6m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -12.7m USD (from netDebt column, last quarter)
Enterprise Value = 3.20b USD (3.21b + Debt 16.6m - CCE 29.3m)
Interest Coverage Ratio = 3.57 (Ebit TTM 310.3m / Interest Expense TTM 86.8m)
FCF Yield = -22.39% (FCF TTM -715.8m / Enterprise Value 3.20b)
FCF Margin = -145.6% (FCF TTM -715.8m / Revenue TTM 491.6m)
Net Margin = 63.13% (Net Income TTM 310.3m / Revenue TTM 491.6m)
Gross Margin = 82.34% ((Revenue TTM 491.6m - Cost of Revenue TTM 86.8m) / Revenue TTM)
Gross Margin QoQ = 85.71% (prev 82.03%)
Tobins Q-Ratio = 0.72 (Enterprise Value 3.20b / Total Assets 4.41b)
Interest Expense / Debt = 145.8% (Interest Expense 24.2m / Debt 16.6m)
Taxrate = 21.0% (US default 21%)
NOPAT = 245.2m (EBIT 310.3m * (1 - 21.00%))
Current Ratio = 3.95 (Total Current Assets 65.6m / Total Current Liabilities 16.6m)
Debt / Equity = 0.01 (Debt 16.6m / totalStockholderEquity, last quarter 2.19b)
Debt / EBITDA = -0.04 (Net Debt -12.7m / EBITDA 310.7m)
Debt / FCF = 0.02 (negative FCF - burning cash) (Net Debt -12.7m / FCF TTM -715.8m)
Total Stockholder Equity = 2.08b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.04% (Net Income 310.3m / Total Assets 4.41b)
RoE = 14.90% (Net Income TTM 310.3m / Total Stockholder Equity 2.08b)
RoCE = 14.90% (EBIT 310.3m / Capital Employed (Equity 2.08b + L.T.Debt 0.0))
RoIC = 6.02% (NOPAT 245.2m / Invested Capital 4.07b)
WACC = 8.59% (E(3.21b)/V(3.23b) * Re(8.63%) + (debt cost/tax rate unavailable))
Discount Rate = 8.63% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 11.00%
Fair Price DCF = unknown (Cash Flow -715.8m)
EPS Correlation: -19.34 | EPS CAGR: 1.53% | SUE: 0.38 | # QB: 0
Revenue Correlation: 14.95 | Revenue CAGR: 20.85% | SUE: 0.97 | # QB: 1
Additional Sources for HTGC Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle