GAIN
Gladstone Investment Corporation
Asset Management
Market Cap$665M
5Y Perf.+50.7%
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Stock Comparison
GAIN vs HTGC
Revenue, margins, valuation, and 5-year total return — side by side.
HTGC
Hercules Capital, Inc.
Asset Management
Market Cap$3.02B
5Y Perf.+47.6%
GAIN vs HTGC — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | GAIN | HTGC |
|---|---|---|
| Industry | Asset Management | Asset Management |
| Market Cap | $665M | $3.02B |
| Revenue (TTM) | $90M | $547M |
| Net Income (TTM) | $130M | $289M |
| Gross Margin | 68.6% | 87.2% |
| Operating Margin | 72.7% | 66.7% |
| Forward P/E | 41.2x | 8.4x |
| Total Debt | $456M | $2.30B |
| Cash & Equiv. | $14M | $57M |
GAIN vs HTGC — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
GAIN
HTGC
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Gladstone Investmen… (GAIN) | 100 | 150.7 | +50.7% |
| Hercules Capital, I… (HTGC) | 100 | 147.6 | +47.6% |
Price return only. Dividends and distributions are not included.
Quick Verdict: GAIN vs HTGC
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: GAIN leads in 5 of 7 categories, making it the strongest pick for profitability and margin quality and capital preservation and lower volatility. Hercules Capital, Inc. is the stronger pick specifically for growth and revenue expansion and valuation and capital efficiency. As sector peers, any of these can serve as alternatives in the same allocation.
GAIN
Gladstone Investment Corporation
The Banking Pick
GAIN carries the broadest edge in this set and is the clearest fit for income & stability and long-term compounding.
- Dividend streak 0 yrs, beta 0.53, yield 9.9%
- 322.9% 10Y total return vs HTGC's 173.0%
- Lower volatility, beta 0.53, Low D/E 91.3%, current ratio 3.69x
Best for: income & stability and long-term compounding
HTGC
Hercules Capital, Inc.
The Banking Pick
HTGC is the clearest fit if your priority is growth exposure and bank quality.
- Rev growth 27.0%, EPS growth 14.9%
- NIM 9.1% vs GAIN's 5.5%
- 27.0% NII/revenue growth vs GAIN's -12.9%
Best for: growth exposure and bank quality
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | HTGC | 27.0% NII/revenue growth vs GAIN's -12.9% |
| Value | HTGC | Lower P/E (8.4x vs 41.2x) |
| Quality / Margins | GAIN | 72.7% margin vs HTGC's 62.1% |
| Stability / Safety | GAIN | Beta 0.53 vs HTGC's 0.69, lower leverage |
| Dividends | GAIN | 9.9% yield, vs HTGC's 8.6% |
| Momentum (1Y) | GAIN | +31.8% vs HTGC's +5.7% |
| Efficiency (ROA) | GAIN | 10.5% ROA vs HTGC's 6.4%, ROIC 5.3% vs 6.6% |
GAIN vs HTGC — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLGAINLAGGINGHTGC
HTGCHercules Capital, Inc.
1leads
GAINGladstone Investment …
5leads
6 Total Categories
CATEGORYLEADERvs HTGCMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
GAIN4/5
Valuation MetricsMultiples, price ratios, and targets
HTGC4/5
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
GAIN5/9
Total Returns1Y, 3Y, 5Y total returns with dividends
GAIN4/6
Risk & VolatilityBeta, volatility, and downside exposure
GAIN2/2
Analyst OutlookRatings, price targets, and dividends
GAIN1/1
Income & Cash Flow (Last 12 Months)
GAIN leads this category, winning 4 of 5 comparable metrics.
Income & Cash Flow (Last 12 Months)
HTGC is the larger business by revenue, generating $547M annually — 6.1x GAIN's $90M. GAIN is the more profitable business, keeping 72.7% of every revenue dollar as net income compared to HTGC's 62.1%.
| Metric | GAINGladstone Investm… | HTGCHercules Capital,… |
|---|---|---|
| RevenueTrailing 12 months | $90M | $547M |
| EBITDAEarnings before interest/tax | $58M | $381M |
| Net IncomeAfter-tax profit | $130M | $289M |
| Free Cash FlowCash after capex | -$82M | -$352M |
| Gross MarginGross profit ÷ Revenue | +68.6% | +87.2% |
| Operating MarginEBIT ÷ Revenue | +72.7% | +66.7% |
| Net MarginNet income ÷ Revenue | +72.7% | +62.1% |
| FCF MarginFCF ÷ Revenue | +126.8% | -77.8% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | +58.1% | -20.7% |
GAIN leads this category, winning 4 of 5 comparable metrics.
Valuation Metrics
HTGC leads this category, winning 4 of 5 comparable metrics.
Valuation Metrics
At 8.9x trailing earnings, HTGC trades at a 5% valuation discount to GAIN's 9.4x P/E. On an enterprise value basis, HTGC's 14.4x EV/EBITDA is more attractive than GAIN's 16.9x.
| Metric | GAINGladstone Investm… | HTGCHercules Capital,… |
|---|---|---|
| Market CapShares × price | $665M | $3.0B |
| Enterprise ValueMkt cap + debt − cash | $1.1B | $5.3B |
| Trailing P/EPrice ÷ TTM EPS | 9.39x | 8.89x |
| Forward P/EPrice ÷ next-FY EPS est. | 41.16x | 8.43x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 16.95x | 14.41x |
| Price / SalesMarket cap ÷ Revenue | 7.40x | 5.52x |
| Price / BookPrice ÷ Book value/share | 1.23x | 1.45x |
| Price / FCFMarket cap ÷ FCF | 5.84x | — |
HTGC leads this category, winning 4 of 5 comparable metrics.
Profitability & Efficiency
GAIN leads this category, winning 5 of 9 comparable metrics.
Profitability & Efficiency
GAIN delivers a 21.9% return on equity — every $100 of shareholder capital generates $22 in annual profit, vs $13 for HTGC. GAIN carries lower financial leverage with a 0.91x debt-to-equity ratio, signaling a more conservative balance sheet compared to HTGC's 1.04x. On the Piotroski fundamental quality scale (0–9), HTGC scores 5/9 vs GAIN's 4/9, reflecting solid financial health.
| Metric | GAINGladstone Investm… | HTGCHercules Capital,… |
|---|---|---|
| ROE (TTM)Return on equity | +21.9% | +13.2% |
| ROA (TTM)Return on assets | +10.5% | +6.4% |
| ROICReturn on invested capital | +5.3% | +6.6% |
| ROCEReturn on capital employed | +6.8% | +8.8% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 5 |
| Debt / EquityFinancial leverage | 0.91x | 1.04x |
| Net DebtTotal debt minus cash | $441M | $2.2B |
| Cash & Equiv.Liquid assets | $14M | $57M |
| Total DebtShort + long-term debt | $456M | $2.3B |
| Interest CoverageEBIT ÷ Interest expense | 1.58x | 4.34x |
GAIN leads this category, winning 5 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
GAIN leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in GAIN five years ago would be worth $17,388 today (with dividends reinvested), compared to $14,806 for HTGC. Over the past 12 months, GAIN leads with a +31.8% total return vs HTGC's +5.7%. The 3-year compound annual growth rate (CAGR) favors HTGC at 18.0% vs GAIN's 16.5% — a key indicator of consistent wealth creation.
| Metric | GAINGladstone Investm… | HTGCHercules Capital,… |
|---|---|---|
| YTD ReturnYear-to-date | +22.2% | -10.3% |
| 1-Year ReturnPast 12 months | +31.8% | +5.7% |
| 3-Year ReturnCumulative with dividends | +57.9% | +64.2% |
| 5-Year ReturnCumulative with dividends | +73.9% | +48.1% |
| 10-Year ReturnCumulative with dividends | +322.9% | +173.0% |
| CAGR (3Y)Annualised 3-year return | +16.5% | +18.0% |
GAIN leads this category, winning 4 of 6 comparable metrics.
Risk & Volatility
GAIN leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
GAIN is the less volatile stock with a 0.53 beta — it tends to amplify market swings less than HTGC's 0.69 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. GAIN currently trades 97.5% from its 52-week high vs HTGC's 83.6% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | GAINGladstone Investm… | HTGCHercules Capital,… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.53x | 0.69x |
| 52-Week HighHighest price in past year | $17.14 | $19.67 |
| 52-Week LowLowest price in past year | $13.11 | $13.70 |
| % of 52W HighCurrent price vs 52-week peak | +97.5% | +83.6% |
| RSI (14)Momentum oscillator 0–100 | 79.2 | 67.7 |
| Avg Volume (50D)Average daily shares traded | 369K | 2.5M |
GAIN leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
GAIN leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Wall Street rates GAIN as "Hold" and HTGC as "Buy". Consensus price targets imply 15.1% upside for HTGC (target: $19) vs -10.2% for GAIN (target: $15). For income investors, GAIN offers the higher dividend yield at 9.93% vs HTGC's 8.62%.
| Metric | GAINGladstone Investm… | HTGCHercules Capital,… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | $15.00 | $18.92 |
| # AnalystsCovering analysts | 7 | 31 |
| Dividend YieldAnnual dividend ÷ price | +9.9% | +8.6% |
| Dividend StreakConsecutive years of raises | 0 | 0 |
| Dividend / ShareAnnual DPS | $1.66 | $1.42 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.2% |
GAIN leads this category, winning 1 of 1 comparable metric.
Key Takeaway
GAIN leads in 5 of 6 categories (Income & Cash Flow, Profitability & Efficiency). HTGC leads in 1 (Valuation Metrics).
Best OverallGladstone Investment Corpor… (GAIN)Leads 5 of 6 categories
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GAIN vs HTGC: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is GAIN or HTGC a better buy right now?
For growth investors, Hercules Capital, Inc.
(HTGC) is the stronger pick with 27. 0% revenue growth year-over-year, versus -12. 9% for Gladstone Investment Corporation (GAIN). Hercules Capital, Inc. (HTGC) offers the better valuation at 8. 9x trailing P/E (8. 4x forward), making it the more compelling value choice. Analysts rate Hercules Capital, Inc. (HTGC) a "Buy" — based on 31 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — GAIN or HTGC?
On trailing P/E, Hercules Capital, Inc.
(HTGC) is the cheapest at 8. 9x versus Gladstone Investment Corporation at 9. 4x. On forward P/E, Hercules Capital, Inc. is actually cheaper at 8. 4x.
03Which is the better long-term investment — GAIN or HTGC?
Over the past 5 years, Gladstone Investment Corporation (GAIN) delivered a total return of +73.
9%, compared to +48. 1% for Hercules Capital, Inc. (HTGC). Over 10 years, the gap is even starker: GAIN returned +322. 9% versus HTGC's +173. 0%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — GAIN or HTGC?
By beta (market sensitivity over 5 years), Gladstone Investment Corporation (GAIN) is the lower-risk stock at 0.
53β versus Hercules Capital, Inc. 's 0. 69β — meaning HTGC is approximately 29% more volatile than GAIN relative to the S&P 500. On balance sheet safety, Gladstone Investment Corporation (GAIN) carries a lower debt/equity ratio of 91% versus 104% for Hercules Capital, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — GAIN or HTGC?
By revenue growth (latest reported year), Hercules Capital, Inc.
(HTGC) is pulling ahead at 27. 0% versus -12. 9% for Gladstone Investment Corporation (GAIN). On earnings-per-share growth, the picture is similar: Hercules Capital, Inc. grew EPS 14. 9% year-over-year, compared to -27. 9% for Gladstone Investment Corporation. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — GAIN or HTGC?
Gladstone Investment Corporation (GAIN) is the more profitable company, earning 72.
7% net margin versus 62. 1% for Hercules Capital, Inc. — meaning it keeps 72. 7% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: GAIN leads at 72. 7% versus 66. 7% for HTGC. At the gross margin level — before operating expenses — HTGC leads at 87. 2%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is GAIN or HTGC more undervalued right now?
On forward earnings alone, Hercules Capital, Inc.
(HTGC) trades at 8. 4x forward P/E versus 41. 2x for Gladstone Investment Corporation — 32. 7x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for HTGC: 15. 1% to $18. 92.
08Which pays a better dividend — GAIN or HTGC?
All stocks in this comparison pay dividends.
Gladstone Investment Corporation (GAIN) offers the highest yield at 9. 9%, versus 8. 6% for Hercules Capital, Inc. (HTGC).
09Is GAIN or HTGC better for a retirement portfolio?
For long-horizon retirement investors, Gladstone Investment Corporation (GAIN) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
53), 9. 9% yield, +322. 9% 10Y return). Both have compounded well over 10 years (GAIN: +322. 9%, HTGC: +173. 0%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between GAIN and HTGC?
Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: GAIN is a small-cap deep-value stock; HTGC is a small-cap high-growth stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(GAIN: -12.9% · HTGC: 27.0%)Net Margin>
%
(GAIN: 72.7% · HTGC: 62.1%)P/E Ratio<
x
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