Financial Services - Asset Management - NYSE - US
$ 18.92
-0.682 %
$ 3.07 B
Market Cap
9.32
P/E
Hercules Capital, Inc. is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups, to expansion stage including select publicly listed companies and select special opportunity lower middle market companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies. The firm provides growth capital financing solutions for capital extension; management buy-out and corporate spin-out financing solutions; company, asset specific, or intellectual property acquisition financing; convertible, subordinated and/or mezzanine loans; domestic and international corporate expansion; vendor financing; revenue acceleration by sales and marketing development, and manufacturing expansion.[ Read More ]
The intrinsic value of one HTGC stock under the base case scenario is HIDDEN Compared to the current market price of 18.9 USD, Hercules Capital, Inc. is HIDDEN
2. FUNDAMENTAL
ANALYSIS
Price Chart HTGC
FINANCIALS
434 M
REVENUE
388 M
OPERATING INCOME
337 M
NET INCOME
68.3 M
OPERATING CASH FLOW
-887 K
INVESTING CASH FLOW
22.7 M
FINANCING CASH FLOW
119 M
REVENUE
0
OPERATING INCOME
-133 M
NET INCOME
-237 M
OPERATING CASH FLOW
-30 K
INVESTING CASH FLOW
-87.4 M
FINANCING CASH FLOW
Balance Sheet Decomposition
Hercules Capital, Inc.
| Current Assets | 132 M |
| Cash & Short-Term Investments | 98.9 M |
| Receivables | 32.7 M |
| Other Current Assets | 0 |
| Non-Current Assets | 3.25 B |
| Long-Term Investments | 3.25 B |
| PP&E | 4.79 M |
| Other Non-Current Assets | 0 |
| Current Liabilities | 158 M |
| Accounts Payable | 50.8 M |
| Short-Term Debt | 107 M |
| Other Current Liabilities | 0 |
| Non-Current Liabilities | 1.56 B |
| Long-Term Debt | 1.56 B |
| Other Non-Current Liabilities | 0 |
EFFICIENCY
Earnings Waterfall
Hercules Capital, Inc.
| Revenue | 434 M |
| Cost Of Revenue | 50.3 M |
| Gross Profit | 384 M |
| Operating Expenses | 73.1 M |
| Operating Income | 388 M |
| Other Expenses | 50.1 M |
| Net Income | 337 M |
RATIOS
88.43%
GROSS MARGIN
89.22%
OPERATING MARGIN
77.69%
NET MARGIN
18.72%
ROE
9.88%
ROA
11.19%
ROIC
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis
Hercules Capital, Inc.
| Net Income | 337 M |
| Depreciation & Amortization | 190 K |
| Capital Expenditures | -887 K |
| Stock-Based Compensation | 0 |
| Change in Working Capital | -17.2 M |
| Others | -269 M |
| Free Cash Flow | 67.4 M |
Wall Street Analysts Price Targets
Hercules Capital, Inc.
Wall Street analysts predict an average 1-year price target for HTGC of $21.1 , with forecasts ranging from a low of $20 to a high of $22 .
HTGC Lowest Price Target
Wall Street Target
20 USD
5.71%
HTGC Average Price Target
Wall Street Target
21.1 USD
11.65%
HTGC Highest Price Target
Wall Street Target
22 USD
16.28%
4. DIVIDEND ANALYSIS
2.39%
DIVIDEND YIELD
0.48 USD
DIVIDEND PER SHARE
5. COMPETITION
6. Ownership
Insider Ownership
Hercules Capital, Inc.
Sold
0-3 MONTHS
1.96 M USD 1
3-6 MONTHS
295 K USD 1
6-9 MONTHS
0 USD 0
9-12 MONTHS
0 USD 0
Bought
0 USD 0
0-3 MONTHS
514 K USD 6
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
| Date | Value | Insider | Amount | Avg Price |
|---|---|---|---|---|
|
1 month ago
Sep 26, 2024
|
Sell 1.96 M USD
|
Bluestein Scott
Chief Executive Officer |
- 100000
|
19.5864 USD |
|
3 months ago
Aug 06, 2024
|
Bought 29 K USD
|
Theodosopoulos Nikos
Director |
+ 1608
|
18.0327 USD |
|
3 months ago
Aug 06, 2024
|
Bought 52.4 K USD
|
Randhawa Paramjeet K
Director |
+ 2898
|
18.0738 USD |
|
3 months ago
Aug 06, 2024
|
Bought 105 K USD
|
Loo Wade
Director |
+ 5645
|
18.5431 USD |
|
3 months ago
Aug 06, 2024
|
Bought 105 K USD
|
CROWELL GAYLE A
Director |
+ 5790
|
18.0643 USD |
|
3 months ago
Aug 06, 2024
|
Bought 105 K USD
|
Aguirre DeAnne
Director |
+ 5660
|
18.4914 USD |
|
3 months ago
Aug 06, 2024
|
Bought 105 K USD
|
Fallon Thomas J
Director |
+ 5723
|
18.3269 USD |
|
4 months ago
Jun 25, 2024
|
Bought 14.1 K USD
|
CROWELL GAYLE A
Director |
+ 701.6
|
20.0499 USD |
|
5 months ago
Jun 18, 2024
|
Sell 33.3 K USD
|
BADAVAS ROBERT P
Director |
- 1700
|
19.6 USD |
|
4 months ago
Jun 20, 2024
|
Sell 262 K USD
|
BADAVAS ROBERT P
Director |
- 13300
|
19.6911 USD |
|
1 year ago
May 24, 2023
|
Bought 6.25 K USD
|
Follmann Christian
Chief Operating Officer |
+ 455
|
13.73 USD |
|
1 year ago
May 24, 2023
|
Sell 6.24 K USD
|
Follmann Christian
Chief Operating Officer |
- 455
|
13.72 USD |
|
1 year ago
May 08, 2023
|
Bought 98.4 K USD
|
CROWELL GAYLE A
Director |
+ 7200
|
13.66 USD |
|
1 year ago
Mar 17, 2023
|
Bought 47.8 K USD
|
Loo Wade
Director |
+ 4000
|
11.95 USD |
|
1 year ago
Nov 21, 2022
|
Sell 1.42 M USD
|
Bluestein Scott
Chief Executive Officer |
- 100000
|
14.16 USD |
|
2 years ago
Aug 18, 2022
|
Bought 375 USD
|
Loo Wade
director: |
+ 24
|
15.63 USD |
|
2 years ago
Aug 18, 2022
|
Bought 891 USD
|
Loo Wade
Director |
+ 57
|
15.63 USD |
|
2 years ago
May 24, 2022
|
Bought 5.98 K USD
|
Follmann Christian
director: Chief Operating Officer |
+ 420
|
14.24 USD |
|
2 years ago
May 24, 2022
|
Sell 5.98 K USD
|
Follmann Christian
director: Chief Operating Officer |
- 420
|
14.23 USD |
|
2 years ago
May 12, 2022
|
Bought 149 K USD
|
Fallon Thomas J
director: |
+ 10000
|
14.88 USD |
|
2 years ago
Mar 24, 2022
|
Bought 1.34 K USD
|
Loo Wade
director: |
+ 75
|
17.89 USD |
|
3 years ago
Nov 15, 2021
|
Sell 1.37 M USD
|
Bluestein Scott
Chief Executive Officer |
- 80000
|
17.11 USD |
|
3 years ago
May 04, 2021
|
Sell 175 K USD
|
BADAVAS ROBERT P
Director |
- 10000
|
17.51 USD |
|
3 years ago
May 04, 2021
|
Sell 175 K USD
|
BADAVAS ROBERT P
Director |
- 10000
|
17.49 USD |
|
3 years ago
May 03, 2021
|
Bought 6.6 K USD
|
CROWELL GAYLE A
Director |
+ 377
|
17.5 USD |
|
3 years ago
Mar 18, 2021
|
Sell 1.26 M USD
|
Bluestein Scott
Chief Executive Officer |
- 80000
|
15.8 USD |
|
3 years ago
Mar 15, 2021
|
Sell 248 K USD
|
Fallon Thomas J
Director |
- 15000
|
16.56 USD |
|
4 years ago
Nov 18, 2020
|
Bought 50 K USD
|
Foster Carol L
Director |
+ 3850
|
12.99 USD |
|
5 years ago
Oct 07, 2019
|
Sell 17.6 K USD
|
Foster Carol L
Director |
- 1328
|
13.2718 USD |
7. News
Structuring Portfolio To Achieve Durable 7% Yield With 7% Income Growth
One of the main drawbacks of high durable income investing is the opportunity cost that comes from reduced income growth potential. However, as I have shown in this article, by being very selective, it is possible to achieve ~ 7% portfolio yield with also ~ 7% income growth rate going forward. Granted, the growth is not in double digit territory as for SCHD and it might not come true, but that could be just as easily the case for SCHD as well.
seekingalpha.com
- 1 week ago
Hercules Capital Q3 Earnings Meet Estimates, Expenses Increase Y/Y
HTGC's third-quarter 2024 earnings match estimates on an increase in total investment income and solid portfolio activities.
zacks.com
- 2 weeks ago
Behavox Secures $70 Million Credit Facility from Hercules Capital for Strategic Expansion
LONDON--(BUSINESS WIRE)--Behavox, a leading provider of AI-driven compliance solutions for Financial Services, announced today that it has secured a $70 million credit facility from Hercules Capital, Inc. (NYSE: HTGC), further increasing ample liquidity reserves on its balance sheet. Behavox intends to use the funds for strategic acquisitions and the building of new products to deliver more value to compliance teams globally. Today, Behavox is recognized as the leading provider of communication.
businesswire.com
- 2 weeks ago
Compared to Estimates, Hercules Capital (HTGC) Q3 Earnings: A Look at Key Metrics
The headline numbers for Hercules Capital (HTGC) give insight into how the company performed in the quarter ended September 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
zacks.com
- 2 weeks ago
Hercules Capital, Inc. (HTGC) Q3 2024 Earnings Call Transcript
Hercules Capital, Inc. (NYSE:HTGC ) Q3 2024 Earnings Conference Call October 30, 2024 5:00 PM ET Company Participants Michael Hara - Investor Relations and Corporate Communications Scott Bluestein - Chief Executive Officer and Chief Investment Officer Seth Meyer - Chief Financial Officer Conference Call Participants Crispin Love - Piper Sandler Brian McKenna - Citizens JMP John Hecht - Jefferies Finian O'Shea - Wells Fargo Securities Christopher Nolan - Ladenburg Thalmann Operator Good day, and thank you for standing by. Welcome to the Hercules Capital Third Quarter 2024 Financial Results and Conference Call.
seekingalpha.com
- 2 weeks ago
Hercules Capital (HTGC) Q3 Earnings Meet Estimates
Hercules Capital (HTGC) came out with quarterly earnings of $0.51 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.52 per share a year ago.
zacks.com
- 2 weeks ago
What Analyst Projections for Key Metrics Reveal About Hercules Capital (HTGC) Q3 Earnings
Beyond analysts' top -and-bottom-line estimates for Hercules Capital (HTGC), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended September 2024.
zacks.com
- 2 weeks ago
Hercules Capital Declares a Total Cash Distribution of $0.48 per Share for the Third Quarter 2024
SAN MATEO, Calif.--(BUSINESS WIRE)--Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”), the largest and leading specialty finance provider to innovative, venture, growth and established stage companies backed by some of the leading and top-tier venture capital and select private equity firms, is pleased to announce that its Board of Directors has declared a third quarter 2024 total cash distribution of $0.48 per share. The following shows the key dates of the third quarter 2024 d.
businesswire.com
- 2 weeks ago
Path To $10,000 Of Annual Income In 5 Years Through SWAN Dividend Investing
In this article, I explore the potential path on how one could achieve $10,000 of annual portfolio income in just a 5-year period by accumulating a capital base from zero. I provide a sample portfolio with specific investment picks, which warrant a portfolio weighted average yield of ~ 9.5%. I remain agnostic to price volatility, but focused on avoiding income cut. I hope that this article will provide a source of inspiration or ideas on how to enhance your income-driven portfolios.
seekingalpha.com
- 2 weeks ago
3 BDCs With Highest Dividend Coverage Levels: Only One Is A Defensive Leader
The investment environment for BDCs remains solid, but there are some clear risks, which call for extra caution. One of the ways to protect current income streams from BDC allocations is to focus on high dividend coverage level picks. I have identified Top 3 BDCs, which carry the highest dividend coverage levels in the sector (on average around 150%).
seekingalpha.com
- 3 weeks ago
Hercules Capital (HTGC) Suffers a Larger Drop Than the General Market: Key Insights
The latest trading day saw Hercules Capital (HTGC) settling at $20.04, representing a -0.89% change from its previous close.
zacks.com
- 3 weeks ago
Hercules Capital: The Valuation Is My Only Concern
Hercules Capital, Inc. offers an attractive dividend yield of nearly 10%, supported by strong net investment income coverage. Portfolio quality shows slight deterioration with an increase in Grade 3 risk ratings, but overall risk remains manageable with low non-accrual rates. HTGC trades at a 77% premium to NAV, significantly above its historical average, leading me to rate it a hold despite solid fundamentals.
seekingalpha.com
- 3 weeks ago
8. Profile Summary
Hercules Capital, Inc. HTGC
COUNTRY
US
INDUSTRY
Asset Management
MARKET CAP
$ 3.07 B
Dividend Yield
2.39%
Description
Hercules Capital, Inc. is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups, to expansion stage including select publicly listed companies and select special opportunity lower middle market companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies. The firm provides growth capital financing solutions for capital extension; management buy-out and corporate spin-out financing solutions; company, asset specific, or intellectual property acquisition financing; convertible, subordinated and/or mezzanine loans; domestic and international corporate expansion; vendor financing; revenue acceleration by sales and marketing development, and manufacturing expansion. It provides asset-based financing with a focus on cash flow; accounts receivable facilities; equipment loans or leases; equipment acquisition; facilities build-out and/or expansion; working capital revolving lines of credit; inventory. The firm also provides bridge financing to IPO or mergers and acquisitions or technology acquisition; dividend recapitalizations and other sources of investor liquidity; cash flow financing to protect against share price volatility; competitor acquisition; pre-IPO financing for extra cash on the balance sheet; public company financing to continue asset growth and production capacity; short-term bridge financing; and strategic and intellectual property acquisition financings. It also focuses on customized financing solutions, emerging growth, mid venture, and late venture financing. The firm invests primarily in structured debt with warrants and, to a lesser extent, in senior debt and equity investments. The firm generally seeks to invest in companies that have been operating for at least six to 12 months prior to the date of their investment. It prefers to invest in technology, energy technology, sustainable and renewable technology, and life sciences. Within technology the firm focuses on advanced specialty materials and chemicals; communication and networking, consumer and business products; consumer products and services, digital media and consumer internet; electronics and computer hardware; enterprise software and services; gaming; healthcare services; information services; business services; media, content and information; mobile; resource management; security software; semiconductors; semiconductors and hardware; and software sector. Within energy technology, it invests in agriculture; clean technology; energy and renewable technology, fuels and power technology; geothermal; smart grid and energy efficiency and monitoring technologies; solar; and wind. Within life sciences, the firm invests in biopharmaceuticals; biotechnology tools; diagnostics; drug discovery, development and delivery; medical devices and equipment; surgical devices; therapeutics; pharma services; and specialty pharmaceuticals. It also invests in educational services. The firm invests primarily in United States based companies and considers investment in the West Coast, Mid-Atlantic regions, Southeast and Midwest; particularly in the areas of software, biotech and information services. The firm prefers to invest between $10 million to $250 million in equity per transactions. It invests generally between $1 million to $40 million in companies focused primarily on business services, communications, electronics, hardware, and healthcare services. The firm invests primarily in private companies but also have investments in public companies. For equity investments, the firm seeks to represent a controlling interest in its portfolio companies which may exceed 25% of the voting securities of such companies. The firm seeks to invest a limited portion of its assets in equipment-based loans to early-stage prospective portfolio companies. These loans are generally for amounts up to $3 million but may be up to $15 million for certain energy technology venture investments. The firm allows certain debt investments have the right to convert a portion of the debt investment into equity. It also co-invests with other private equity firms. The firm seeks to exit its investments through initial public offering, a private sale of equity interest to a third party, a merger or an acquisition of the company or a purchase of the equity position by the company or one of its stockholders. The firm has structured debt with warrants which typically have maturities of between two and seven years with an average of three years; senior debt with an investment horizon of less than three years; equipment loans with an investment horizon ranging from three to four years; and equity related securities with an investment horizon ranging from three to seven years. The firm prefers to invest through its balance sheet capital. The firm formerly known as Hercules Technology Growth Capital, Inc. Hercules Capital, Inc. was founded in December 2003 and is based in Palo Alto, California with additional offices in Connecticut; Boston, Massachusetts; San Diego, California; Westport, Connecticut; Elmhurst, Illinois; Santa Monica, California; McLean, Virginia; New York, New York; Radnor, Pennsylvania; and Washington, District of Columbia and London, United Kingdom.
Contact
400 Hamilton Avenue, Palo Alto, CA, 94301
https://www.htgc.com
IPO Date
June 9, 2005
Employees
100
Officers
Mr. Michael Bowden
Managing Director of Portfolio Management
Ms. Kate Kinlin
Vice President of Human Resources
Mr. Roy Y. Liu
Managing Director
Mr. Scott Bluestein
Chief Executive Officer, Chief Investment Officer, President & Director
Mr. Seth Hardy Meyer
Chief Financial Officer & Chief Accounting Officer
Ms. Kiersten Zaza Botelho
Corporate Secretary, Chief Legal & Compliance Officer
Mr. Michael W. Hara
Managing Director of Investor Relations & Corporate Communications
Mr. R. Bryan Jadot
Senior MD & Group Head of Life Sciences
Mr. Christian Follmann
Chief Operating Officer
Mr. Steve Kuo
Senior MD & Group Head of Technology