Industry n/a · SIC —
Hercules Capital, Inc.
HTGC
Business Development Company (Hercules).
Latest revenue
$88.1M
as of 2026-03-31
Latest net income
$42.5M
as of 2026-03-31
Net margin
48.2%
as of 2026-03-31
ActaClear Score
Computed from 5 years of SEC fundamentals + latest market data, ranked within industry (4096 peers). 10 = best in industry, 5 = median, 0 = worst. Refreshed Jun 6, 2026.
Fair value · DCF
DCF: 10-year forecast of free cash flow, discounted at the company's WACC, with a Gordon-growth terminal at year 10. FCF is proxied by last fiscal-year net income (proper FCF needs CFO − CapEx by year, which we don't store yet). Drag the slider to test your own growth thesis — the dominant assumption in any DCF is what comes next, not what the math does with it. Beta defaults to 1.0 when not reported.
Community sentiment
Where do you think HTGC is heading?
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $2.86B
- Enterprise value
- $5.35B
- P/E (trailing)
- 8.4×
- Forward P/E
- —
- P/B
- 1.28×
- Dividend yield
- 11.9%
- 52-wk high
- $19.67
- 52-wk low
- $13.70
- Beta
- —
- Shares out
- 187.2M
5-year trend
What this company does
Item 1. Business GENERAL Hercules Capital, Inc. is a specialty finance company focused on providing senior secured loans to high-growth, innovative venture capital-backed and institutional-backed companies in a variety of technology and life sciences industries. We make investments in companies that are active across a variety of technology-related industry sub-sectors or are characterized by products or services that require advanced technologies, including, but not limited to, computer software and hardware, networking systems, semiconductors, semiconductor capital equipment, information technology infrastructure or services, consumer and business services, telecommunications,…
AI summary unavailable — showing raw filing excerpt
Generated from HTGC's filing dated 2026-02-12
Key risks
Item 1A. Risk Factors Investing in our securities involves a number of significant risks. In addition to the other information contained in this Annual Report, you should carefully consider the following information before making an investment in our securities. The risks set forth below are not the only risks we face. Additional risks and uncertainties not presently known to us or not presently deemed material by us may also impair our operations and performance. If any of the following events occur, our business, financial condition, and results of operations could be materially adversely affected. In such case, our NAV and the trading price of our common stock or the value of our other…
AI summary unavailable — showing raw filing excerpt
Generated from HTGC's filing dated 2026-02-12
Profitability
Net margin
66.9%
18.8%Return on equity
15.3%
16.0%Return on assets
7.4%
8.0%Leverage
Debt / equity
1.07×
15.4%Long-term debt / equity
1.03×
16.0%Debt / assets
51.7%
7.5%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $88.1M | +13.8% | $42.5M | -15.6% | 48.2% |
Q4 2025 2025-12-31 | $253.1M | +13.8% | $90.8M | +47.8% | 35.9% |
Q3 2025 2025-09-30 | $88.6M | +6.5% | $119.7M | +74.2% | 135.2% |
Q2 2025 2025-06-30 | $88.7M | +7.7% | $78.9M | +88.5% | 88.9% |
Q1 2025 2025-03-31 | $77.5M | -2.2% | $50.3M | -44.7% | 65.0% |
Q4 2024 2024-12-31 | $222.5M | — | $61.4M | — | 27.6% |
Q3 2024 2024-09-30 | $83.2M | +8.3% | $68.7M | +145.7% | 82.6% |
Q2 2024 2024-06-30 | $82.4M | +8.8% | $41.9M | -55.8% | 50.8% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Industry · SIC —
Your notes
Keep private notes on HTGC — thesis, target price, catalysts to watch.
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Insider activity
No insider transactions on file for HTGC in the last 12 months.
Source: SEC Form 4 filings. Backfill runs nightly.
Who owns HTGC
Institutional value
$416.5M
Total shares held
48.3M
Distinct holders
248
-107 vs prior
As of
2026-03-31
Prior: 2025-12-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | Sound Income Strategies, LLC | 3.4M | $49.2M | +678.8K (+25.1%) | Added |
| 2 | UBS Group AG | 2.5M | $36.8M | +822.1K (+49.2%) | Added |
| 3 | LPL Financial LLC | 1.8M | $26.5M | -27.7K (-1.5%) | Trimmed |
| 4 | Legal & General Group Plc | 1.5M | $22.1M | +116.6K (+8.4%) | Added |
| 5 | Muzinich & Co., Inc. | 1.4M | $19.9M | +14.3K (+1.1%) | Added |
| 6 | FRANKLIN RESOURCES INC | 1.1M | $16.8M | +160.1K (+16.4%) | Added |
| 7 | Sumitomo Mitsui Trust Group, Inc. | 1.0M | $15.1M | +6.6K (+0.6%) | Added |
| 8 | TECTONIC ADVISORS LLC | 893.1K | $13.2M | +133.4K (+17.6%) | Added |
| 9 | Advisors Capital Management, LLC | 856.2K | $12.6M | +28.0K (+3.4%) | Added |
| 10 | BlackRock, Inc. | 855.1K | $12.6M | -478.0K (-35.9%) | Trimmed |
| 11 | JPMORGAN CHASE & CO | 878.6K | $12.5M | +558.4K (+174.4%) | Added |
| 12 | PANORAMIC INVESTMENT ADVISORS, LLC | 799.8K | $11.8M | — | New |
| 13 | Melia Wealth LLC | 799.7K | $11.8M | -2.5K (-0.3%) | Trimmed |
| 14 | WELLS FARGO & COMPANY/MN | 749.2K | $11.1M | +8.7K (+1.2%) | Added |
| 15 | Gilman Hill Asset Management, LLC | 617.8K | $9.1M | +37.4K (+6.4%) | Added |
| 16 | STIFEL FINANCIAL CORP | 501.7K | $7.4M | -105.4K (-17.4%) | Trimmed |
| 17 | Triad Investment Management | 417.3K | $6.5M | +313.2K (+301.0%) | Added |
| 18 | D.A. DAVIDSON & CO. | 323.4K | $4.8M | +14.2K (+4.6%) | Added |
| 19 | CONFLUENCE INVESTMENT MANAGEMENT LLC | 273.3K | $4.0M | -16.4K (-5.7%) | Trimmed |
| 20 | Cetera Investment Advisers | 256.6K | $3.8M | +41.6K (+19.3%) | Added |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
Coming once HTGC's latest filing finishes processing.
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