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Financial Services - Asset Management - NYSE - US
$ 18.61
0.108 %
$ 3.26 B
Market Cap
13.99
P/E
1. INTRINSIC VALUE

This DCF valuation model was last updated on Jul, 6, 2025.

The intrinsic value of one HTGC stock under the worst case scenario is HIDDEN Compared to the current market price of 18.6 USD, Hercules Capital, Inc. is HIDDEN

This DCF valuation model was last updated on Jul, 6, 2025.

The intrinsic value of one HTGC stock under the base case scenario is HIDDEN Compared to the current market price of 18.6 USD, Hercules Capital, Inc. is HIDDEN

This DCF valuation model was last updated on Jul, 6, 2025.

The intrinsic value of one HTGC stock under the best case scenario is HIDDEN Compared to the current market price of 18.6 USD, Hercules Capital, Inc. is HIDDEN

2. FUNDAMENTAL ANALYSIS

Price Chart HTGC

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$21.0$21.0$20.0$20.0$19.0$19.0$18.0$18.0$17.0$17.0$16.0$16.0$15.0$15.015 Jan15 JanFeb '25Feb '2515 Feb15 FebMar '25Mar '2515 Mar15 MarApr '25Apr '2515 Apr15 AprMay '25May '2515 May15 MayJun '25Jun '2515 Jun15 JunJul '25Jul '25
FINANCIALS
416 M REVENUE
-9.71%
237 M OPERATING INCOME
-38.75%
31.5 M NET INCOME
-90.67%
-118 M OPERATING CASH FLOW
-172.95%
-705 K INVESTING CASH FLOW
20.52%
119 M FINANCING CASH FLOW
424.05%
102 M REVENUE
113.01%
56.8 M OPERATING INCOME
914.62%
1.54 M NET INCOME
100.92%
-222 M OPERATING CASH FLOW
35.70%
-8 K INVESTING CASH FLOW
-0.00%
160 M FINANCING CASH FLOW
57.50%
Balance Sheet Hercules Capital, Inc.
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Current Assets 75.3 M
Cash & Short-Term Investments 42.7 M
Receivables 32.6 M
Other Current Assets 0
Non-Current Assets 16.8 M
Long-Term Investments 0
PP&E 16.8 M
Other Non-Current Assets 0
46.37 %35.40 %18.23 %Total Assets$92.0m
Current Liabilities 54.9 M
Accounts Payable 54.9 M
Short-Term Debt 0
Other Current Liabilities 0
Non-Current Liabilities 1.82 B
Long-Term Debt 0
Other Non-Current Liabilities 1.82 B
2.92 %97.08 %Total Liabilities$1.9b
EFFICIENCY
Earnings Waterfall Hercules Capital, Inc.
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Revenue 416 M
Cost Of Revenue 54.2 M
Gross Profit 362 M
Operating Expenses 124 M
Operating Income 237 M
Other Expenses 206 M
Net Income 31.5 M
450m450m400m400m350m350m300m300m250m250m200m200m150m150m100m100m50m50m00416m(54m)362m(124m)237m(206m)31mRevenueRevenueCost Of RevenueCost Of RevenueGross ProfitGross ProfitOperating ExpensesOperating ExpensesOperating IncomeOperating IncomeOther ExpensesOther ExpensesNet IncomeNet Income
RATIOS
86.96% GROSS MARGIN
86.96%
57.07% OPERATING MARGIN
57.07%
62.54% NET MARGIN
62.54%
13.07% ROE
13.07%
6.79% ROA
6.79%
638.58% ROIC
638.58%
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis Hercules Capital, Inc.
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300m300m200m200m100m100m00(100m)(100m)(200m)(200m)(300m)(300m)(400m)(400m)(500m)(500m)20162016201720172018201820192019202020202021202120222022202320232024202420252025
Net Income 31.5 M
Depreciation & Amortization 466 K
Capital Expenditures 0
Stock-Based Compensation 0
Change in Working Capital 15.4 M
Others -150 M
Free Cash Flow -118 M
3. WALL STREET ANALYSTS ESTIMATES
Wall Street Analysts Price Targets Hercules Capital, Inc.
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Wall Street analysts predict an average 1-year price target for HTGC of $19.6 , with forecasts ranging from a low of $13 to a high of $22 .
HTGC Lowest Price Target Wall Street Target
13 USD -30.15%
HTGC Average Price Target Wall Street Target
19.6 USD 5.23%
HTGC Highest Price Target Wall Street Target
22 USD 18.22%
Price
Max Price Target
Min Price Target
Average Price Target
2222212120201919181817171616151514141313Aug '24Aug '24Oct '24Oct '24Nov '24Nov '2420252025Feb '25Feb '25Apr '25Apr '25Jun '25Jun '25Jul '25Jul '25Aug '25Aug '25Oct '25Oct '25Nov '25Nov '2520262026Feb '26Feb '26Apr '26Apr '26Jun '26Jun '26Jul '26Jul '26
4. DIVIDEND ANALYSIS
2.45% DIVIDEND YIELD
0.47 USD DIVIDEND PER SHARE
Q1
Q2
Q3
Q4
2.000002.000001.800001.800001.600001.600001.400001.400001.200001.200001.000001.000000.800000.800000.600000.600000.400000.400000.200000.200000.000000.000000.310.310.302620.310.310.40.370.480.470.480.470.310.310.302620.310.330.320.390.480.470.480.470.310.310.310.310.340.320.390.50.480.480.311.240.311.240.311.230.331.260.351.330.341.380.41.550.511.970.481.900.481.920.942015201520162016201720172018201820192019202020202021202120222022202320232024202420252025
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5. COMPETITION
slide 2 of 14
6. Ownership
Insider Ownership Hercules Capital, Inc.
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Sold
0-3 MONTHS
7.04 K USD 1
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
1.96 M USD 1
Bought
563 K USD 7
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
500 K USD 6
9-12 MONTHS
7. News
Hercules Capital (HTGC) Outperforms Broader Market: What You Need to Know Hercules Capital (HTGC) closed the most recent trading day at $18.59, moving +1.36% from the previous trading session. zacks.com - 1 week ago
Hercules Capital Receives Affirmed BBB- Investment Grade Corporate and Unsecured Credit Rating from Fitch Ratings, Inc. SAN MATEO, Calif.--(BUSINESS WIRE)--Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”), the largest and leading specialty financing 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, today announced that Fitch Ratings, Inc. (“Fitch”) has affirmed Hercules' investment grade corporate and unsecured credit rating of BBB- with a stable outlook, as well as its underlying ana. businesswire.com - 2 weeks ago
Hercules Capital: Better Entry Point, But Further Potential Economic Weakening Keeps Me At Bay I maintain my Hold rating on Hercules Capital due to premium valuation, economic uncertainty, and recent earnings misses despite strong fundamentals. Dividend coverage remains solid, supported by spillover income and strong liquidity, but rising payment-in-kind income signals potential portfolio risk. Portfolio growth and recent investment activity could boost future earnings, though lower base rates and fee income are headwinds. seekingalpha.com - 2 weeks ago
17 Ideal 'Safer' Dividend Dogs To Buy Out Of 72 June Graham Value All-Stars I use YCharts' Value Score and Ben Graham Formula Value All Stars, or GASV, to identify large-cap stocks offering strong value and dividend safety. Seventeen out of twenty-four "safer" lowest-priced Dividend Dogs of the GASV are currently fair-priced and ready to buy for income investors. Top ten GASV stocks offer projected average net gains of 32.99% by June 2026, with yields ranging from 8.94% to 13.81%. seekingalpha.com - 2 weeks ago
Hercules Capital (HTGC) Surpasses Market Returns: Some Facts Worth Knowing The latest trading day saw Hercules Capital (HTGC) settling at $18.08, representing a +1.57% change from its previous close. zacks.com - 3 weeks ago
Hercules Capital: Buyable, But Proceed With Caution (Rating Downgrade) Hercules Capital, Inc.'s focus on first-lien, floating rate debt in tech and life sciences offers stability, but growth will likely slow as rates fall. HTGC stock's 58% premium to NAV is both a risk and a competitive advantage, enabling cheaper capital raises but exposing downside if sentiment shifts. Lower interest rates could pressure income but also improve portfolio credit quality and increase deal flow, partially offsetting negatives for HTGC. seekingalpha.com - 3 weeks ago
Wall Street Analysts Think Hercules Capital (HTGC) Is a Good Investment: Is It? Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter? zacks.com - 3 weeks ago
Hercules Capital (HTGC) Ascends While Market Falls: Some Facts to Note In the latest trading session, Hercules Capital (HTGC) closed at $18.02, marking a +1.24% move from the previous day. zacks.com - 3 weeks ago
Hercules Capital Closes Upsized Institutional Notes Offering of $350.0 Million 6.000% Unsecured Notes due 2030 SAN MATEO, Calif.--(BUSINESS WIRE)--Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”), today announced that it has closed an upsized underwritten public offering of $350.0 million in aggregate principal amount of 6.000% notes due June 2030 (the “Notes”). The Notes are unsecured and bear interest at a rate of 6.000% per year, payable semiannually, will mature on June 16, 2030 and may be redeemed in whole or in part at any time or from time to time at the Company's option at par,. businesswire.com - 4 weeks ago
Hercules Capital: Growing Troubles Within Portfolio Warrants Caution I maintain a hold rating on HTGC due to its premium valuation and rising concerns over portfolio quality and PIK interest income. HTGC's dividend yield remains attractive and well-covered, but increasing PIK income signals potential stress among borrowers if rates stay elevated. The portfolio is concentrated in volatile sectors and faces heightened risk from competition and macro uncertainty, despite strong first lien loan positioning. seekingalpha.com - 1 month ago
Hercules Capital Prices Upsized Institutional Notes Offering of $350.0 Million 6.000% Notes due 2030 SAN MATEO, Calif.--(BUSINESS WIRE)--Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”), today announced that it has priced an upsized underwritten public offering of $350.0 million in aggregate principal amount of 6.000% notes due June 2030 (the “Notes”). The closing of the transaction is subject to customary closing conditions and the Notes are expected to be delivered and paid for on June 16, 2025. The Notes are unsecured and bear interest at a rate of 6.000% per year, payable. businesswire.com - 1 month ago
4 Buy-Rated Russell 2000 Stocks Pay Massive Ultra-High-Yield Dividends Small-cap stocks typically do well when interest rates fall, which they may do later this year. 247wallst.com - 1 month ago
8. Profile Summary

Hercules Capital, Inc. HTGC

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COUNTRY US
INDUSTRY Asset Management
MARKET CAP $ 3.26 B
Dividend Yield 2.45%
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 Ms. Kiersten Zaza Botelho Corporate Secretary, Chief Legal & Compliance Officer Mr. Michael Bowden Managing Director of Portfolio Management Mr. Michael W. Hara Managing Director of Investor Relations & Corporate Communications 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 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