(HTGC) Hercules Capital - Ratings and Ratios
Venture Debt, Growth Capital, Mezzanine Loans, Asset-Based Credit, Bridge Financing
HTGC EPS (Earnings per Share)
HTGC Revenue
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 | 3,196m |
| Sub-Industry | Asset Management & Custody Banks |
| IPO / Inception | 2005-06-09 |
HTGC Stock Ratings
| Growth Rating | 52.4% |
| Fundamental | 35.3% |
| Dividend Rating | 67.8% |
| Return 12m vs S&P 500 | -12.9% |
| Analyst Rating | 4.0 of 5 |
HTGC Dividends
| Dividend Yield 12m | 8.89% |
| Yield on Cost 5y | 22.73% |
| Annual Growth 5y | 3.77% |
| Payout Consistency | 93.1% |
| Payout Ratio | 116.0% |
HTGC Growth Ratios
| Growth Correlation 3m | -77.6% |
| Growth Correlation 12m | -3.6% |
| Growth Correlation 5y | 85.6% |
| CAGR 5y | 18.96% |
| CAGR/Max DD 3y (Calmar Ratio) | 0.71 |
| CAGR/Mean DD 3y (Pain Ratio) | 2.60 |
| Sharpe Ratio 12m | 0.99 |
| Alpha | -14.06 |
| Beta | 0.891 |
| Volatility | 22.25% |
| Current Volume | 1226.3k |
| Average Volume 20d | 1195.2k |
| Stop Loss | 17.4 (-3.3%) |
| Signal | -0.08 |
Piotroski VR‑10 (Strict, 0-10) 1.5
| Net Income (-72.3m TTM) > 0 and > 6% of Revenue (6% = 20.8m TTM) |
| FCFTA -0.16 (>2.0%) and ΔFCFTA -26.00pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 14.14% (prev 4.63%; Δ 9.51pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA -0.16 (>3.0%) and CFO -715.8m <= Net Income -72.3m (YES >=105%, WARN >=100%) |
| Net Debt (-12.7m) to EBITDA (221.3m) ratio: -0.06 <= 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 79.71% (prev 89.24%; Δ -9.53pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 8.59% (prev 13.88%; Δ -5.28pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 2.53 (EBITDA TTM 221.3m / Interest Expense TTM 62.6m) >= 6 (WARN >= 3) |
Altman Z'' 0.49
| (A) 0.01 = (Total Current Assets 65.6m - Total Current Liabilities 16.6m) / Total Assets 4.41b |
| (B) 0.02 = Retained Earnings (Balance) 88.9m / Total Assets 4.41b |
| (C) 0.04 = EBIT TTM 158.4m / Avg Total Assets 4.03b |
| (D) 0.08 = Book Value of Equity 182.0m / Total Liabilities 2.22b |
| Total Rating: 0.49 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 35.29
| 1. Piotroski 1.50pt = -3.50 |
| 2. FCF Yield -22.49% = -5.0 |
| 3. FCF Margin data missing |
| 4. Debt/Equity 0.01 = 2.50 |
| 5. Debt/Ebitda -0.06 = 2.50 |
| 6. ROIC - WACC (= -6.11)% = -7.64 |
| 7. RoE -3.47% = -0.58 |
| 8. Rev. Trend -6.75% = -0.51 |
| 9. EPS Trend -49.79% = -2.49 |
What is the price of HTGC shares?
Over the past week, the price has changed by +0.45%, over one month by +0.45%, over three months by -4.87% and over the past year by -0.73%.
Is Hercules Capital a good stock to buy?
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of HTGC is around 18.86 USD . This means that HTGC is currently overvalued and has a potential downside of 4.78%.
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 | 21.1 | 17.2% |
| Analysts Target Price | 21.1 | 17.2% |
| ValueRay Target Price | 21.2 | 17.6% |
HTGC Fundamental Data Overview November 01, 2025
P/E Trailing = 11.5724
P/E Forward = 9.7087
P/S = 6.3406
P/B = 1.5836
P/EG = 0.5218
Beta = 0.891
Revenue TTM = 346.6m USD
EBIT TTM = 158.4m USD
EBITDA TTM = 221.3m 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 = 3.18b USD (3.20b + Debt 16.6m - CCE 29.3m)
Interest Coverage Ratio = 2.53 (Ebit TTM 158.4m / Interest Expense TTM 62.6m)
FCF Yield = -22.49% (FCF TTM -715.8m / Enterprise Value 3.18b)
FCF Margin = -206.5% (FCF TTM -715.8m / Revenue TTM 346.6m)
Net Margin = -20.87% (Net Income TTM -72.3m / Revenue TTM 346.6m)
Gross Margin = 79.71% ((Revenue TTM 346.6m - Cost of Revenue TTM 70.3m) / Revenue TTM)
Gross Margin QoQ = 85.82% (prev 96.46%)
Tobins Q-Ratio = 0.72 (Enterprise Value 3.18b / Total Assets 4.41b)
Interest Expense / Debt = 138.2% (Interest Expense 22.9m / Debt 16.6m)
Taxrate = 21.0% (US default 21%)
NOPAT = 125.2m (EBIT 158.4m * (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 = -0.06 (Net Debt -12.7m / EBITDA 221.3m)
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 = -1.64% (Net Income -72.3m / Total Assets 4.41b)
RoE = -3.47% (Net Income TTM -72.3m / Total Stockholder Equity 2.08b)
RoCE = 7.61% (EBIT 158.4m / Capital Employed (Equity 2.08b + L.T.Debt 0.0))
RoIC = 3.14% (NOPAT 125.2m / Invested Capital 3.98b)
WACC = 9.25% (E(3.20b)/V(3.21b) * Re(9.30%) + (debt cost/tax rate unavailable))
Discount Rate = 9.30% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 11.00%
Fair Price DCF = unknown (Cash Flow -715.8m)
EPS Correlation: -49.79 | EPS CAGR: -57.33% | SUE: -4.0 | # QB: 0
Revenue Correlation: -6.75 | Revenue CAGR: 12.37% | SUE: -0.62 | # QB: 0
Additional Sources for HTGC Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle