BlackRock Technology and Private Equity Term Trust (BTX) 10-Year Financial Performance & Capital Metrics

BTX • • Industrial / General

HealthcareBiotechnologyPlatform & Technology CompaniesAntibody Discovery Platforms

AboutBlackRock Innovation and Growth Trust (the Trust) is a newly-organized, non-diversified, closed-end management investment company with no operating history. The Trusts investment objectives are to provide total return and income through a combination of current income, current gains and long-term capital appreciation. There can be no assurance that the Trusts investment objectives will be achieved or that the Trusts investment program will be successful The Trust will invest primarily in equity securities issued by mid- and small-capitalization companies that the Trusts adviser believes have above-average earnings growth potential. In selecting investments for the Trust, the Trusts adviser focuses on mid- and small-capitalization growth companies that are innovative. These are companies that have introduced, or are seeking to introduce, a new product or service that potentially changes the marketplace.Show more

Revenue $41M -81.1%
EBITDA $36M -83.1%
Net Income $36M -83.1%
EPS (Diluted) 0.17 -82.7%
Gross Margin 100%
EBITDA Margin 87.75% -10.6%
Operating Margin 87.75% -10.6%
Net Margin 87.75% -10.6%
ROE 1.87% -82.1%
ROIC 1.41% -82.1%
Debt/Equity -
Interest Coverage 2313.25 -98.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FCF machine: 681.3% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Healthy 5Y average net margin of 96.6%
✓Trading at only 0.8x book value

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Dividend payout exceeds 100% of earnings
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-

EPS CAGR

10Y-

5Y-

3Y-

TTM-

ROCE

10Y Avg-14.14%

5Y Avg-14.14%

3Y Avg-14.14%

Latest1.84%

Peer Comparison

Antibody Discovery Platforms

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NAGENiagen Bioscience Inc	503.58M	6.31	57.36	19.18%	16.38%	28.91%	2.37%	0.06
BTXBlackRock Technology and Private Equity Term Trust	808.8M	6.93	40.76	-81.13%	87.75%	1.87%	34.27%
HALOHalozyme Therapeutics, Inc.	8.45B	71.82	20.94	22.44%	47.91%	118.17%	5.55%	4.14
RPRXRoyalty Pharma plc	16.97B	39.72	20.80	-3.86%	32.55%	7.95%	16.32%	0.74
REGNRegeneron Pharmaceuticals, Inc.	76.63B	741.92	19.35	8.27%	32.13%	14.79%	4.78%	0.09
GMABGenmab A/S	20.85B	33.85	2.79	30.67%	46.8%	114.25%	36.37%	0.03
DNAGinkgo Bioworks Holdings, Inc.	464.86M	9.58	-0.91	-9.71%	-188%	-60.66%		0.65
PRMEPrime Medicine, Inc.	720.24M	3.99	-2.42		-33.02%	-121.95%		0.27

Profit & Loss

	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	-639.7M	-1.65B	215.58M	40.69M
Revenue Growth %	-	-1.58%	1.13%	-0.81%
Cost of Goods Sold+	0	0	0	0
COGS % of Revenue	-	-	-	-
Gross Profit+	-639.7M	-1.65B	215.58M	40.69M
Gross Margin %	1%	1%	1%	1%
Gross Profit Growth %	-	-1.58%	1.13%	-0.81%
Operating Expenses+	948.69K	2.8M	4.01M	4.99M
OpEx % of Revenue	-0%	-0%	0.02%	0.12%
Selling, General & Admin	1.18M	2.61M	3.8M	4.41M
SG&A % of Revenue	-0%	-0%	0.02%	0.11%
Research & Development	0	0	0	0
R&D % of Revenue	-	-	-	-
Other Operating Expenses	-233.83K	194.86K	209.79K	576K
Operating Income+	-640.65M	-1.66B	211.57M	35.7M
Operating Margin %	1%	1%	0.98%	0.88%
Operating Income Growth %	-	-1.59%	1.13%	-0.83%
EBITDA+	-640.65M	-1.66B	211.57M	35.7M
EBITDA Margin %	1%	1%	0.98%	0.88%
EBITDA Growth %	-	-1.59%	1.13%	-0.83%
D&A (Non-Cash Add-back)	0	0	0	0
EBIT	0	0	-211.57M	-35.72M
Net Interest Income+	0	0	-1.5K	-15.44K
Interest Income	0	0	0	0
Interest Expense	0	0	1.5K	15.44K
Other Income/Expense	0	0	0	0
Pretax Income+	-640.65M	-1.66B	211.57M	35.7M
Pretax Margin %	1%	1%	0.98%	0.88%
Income Tax+	0	0	0	0
Effective Tax Rate %	1%	1%	1%	1%
Net Income+	-640.65M	-1.66B	211.57M	35.7M
Net Margin %	1%	1%	0.98%	0.88%
Net Income Growth %	-	-1.59%	1.13%	-0.83%
Net Income (Continuing)	-640.65M	-1.66B	211.57M	35.7M
Discontinued Operations	0	0	0	0
Minority Interest	0	0	0	0
EPS (Diluted)+	-2.58	-6.91	0.98	0.17
EPS Growth %	-	-1.68%	1.14%	-0.83%
EPS (Basic)	-2.58	-6.91	0.98	0.17
Diluted Shares Outstanding	248.31M	239.7M	215.89M	215.89M
Basic Shares Outstanding	248.31M	239.7M	215.89M	215.89M
Dividend Payout Ratio	-	-	0.83%	5.17%

Balance Sheet

	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.1K	335	367	0
Cash & Short-Term Investments	1.1K	335	367	0
Cash Only	1.1K	335	367	0
Short-Term Investments	0	0	0	0
Accounts Receivable	6.39M	4.18M	332.88K	66.69K
Days Sales Outstanding	-3.65	-0.92	0.56	0.6
Inventory	0	0	0	0
Days Inventory Outstanding	-	-	-	-
Other Current Assets	-6.48M	-4.18M	-349.5K	-75.43K
Total Non-Current Assets+	4.02B	2.06B	2.07B	0
Property, Plant & Equipment	0	0	0	0
Fixed Asset Turnover	-	-	-	-
Goodwill	0	0	0	0
Intangible Assets	0	0	0	0
Long-Term Investments	4.01B	2.05B	2.07B	1.81B
Other Non-Current Assets	6.51M	4.18M	349.5K	-1.81B
Total Assets+	4.02B	2.06B	2.07B	1.81B
Asset Turnover	-0.16x	-0.80x	0.10x	0.02x
Asset Growth %	-	-0.49%	0.01%	-0.13%
Total Current Liabilities+	0	0	0	0
Accounts Payable	4.31M	17.72M	0	0
Days Payables Outstanding	-	-	-	-
Short-Term Debt	0	0	0	0
Deferred Revenue (Current)	0	0	0	0
Other Current Liabilities	-21.15M	-23.02M	-2.99M	-2.56M
Current Ratio	-	-	-	-
Quick Ratio	-	-	-	-
Cash Conversion Cycle	-	-	-	-
Total Non-Current Liabilities+	0	0	0	0
Long-Term Debt	0	0	0	0
Capital Lease Obligations	0	0	0	0
Deferred Tax Liabilities	0	0	0	0
Other Non-Current Liabilities	0	0	0	0
Total Liabilities	37.54M	30.18M	40.69M	23.6M
Total Debt+	0	0	0	0
Net Debt	-1.1K	-335	-367	0
Debt / Equity	-	-	-	-
Debt / EBITDA	-	-	-	-
Net Debt / EBITDA	-	-	-0.00x	-
Interest Coverage	-	-	141140.11x	2313.25x
Total Equity+	3.98B	2.03B	2.03B	1.78B
Equity Growth %	-	-0.49%	-0%	-0.12%
Book Value per Share	16.03	8.45	9.39	8.27
Total Shareholders' Equity	3.98B	2.03B	2.03B	1.78B
Common Stock	4.59B	4.25B	4.02B	3.72B
Retained Earnings	-605.36M	-2.22B	-2B	-1.94B
Treasury Stock	0	0	0	0
Accumulated OCI	0	0	0	0
Minority Interest	0	0	0	0

Cash Flow

	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-4.64B	310.48M	216.57M	277.21M
Operating CF Margin %	7.25%	-0.19%	1%	6.81%
Operating CF Growth %	-	1.07%	-0.3%	0.28%
Net Income	-640.65M	-1.66B	211.57M	35.7M
Depreciation & Amortization	0	0	0	0
Stock-Based Compensation	0	0	0	0
Deferred Taxes	0	0	0	0
Other Non-Cash Items	-4.01B	1.97B	-15.36M	247.57M
Working Capital Changes	9.34M	-6.34M	20.37M	-6.06M
Change in Receivables	-462.13K	228.99K	-99.73K	266.19K
Change in Inventory	0	0	0	0
Change in Payables	0	0	0	0
Cash from Investing+	0	0	0	0
Capital Expenditures	0	0	0	0
CapEx % of Revenue	-	-	-	-
Acquisitions	-	-	-	-
Investments	-	-	-	-
Other Investing	0	0	0	0
Cash from Financing+	4.64B	-310.51M	-216.57M	-277.21M
Debt Issued (Net)	-	-	-	-
Equity Issued (Net)	-	-	-	-
Dividends Paid	-161.27M	-235.85M	-176.11M	-184.73M
Share Repurchases	-	-	-	-
Other Financing	0	0	0	354
Net Change in Cash	-	-	-	-
Free Cash Flow+	-4.64B	310.48M	216.57M	277.21M
FCF Margin %	7.25%	-0.19%	1%	6.81%
FCF Growth %	-	1.07%	-0.3%	0.28%
FCF per Share	-18.68	1.30	1.00	1.28
FCF Conversion (FCF/Net Income)	7.24x	-0.19x	1.02x	7.76x
Interest Paid	0	0	0	0
Taxes Paid	0	0	0	0

Key Ratios

Metric	2021	2022	2023	2024
Return on Equity (ROE)	-16.09%	-55.14%	10.44%	1.87%
Return on Invested Capital (ROIC)	-	-41.35%	7.83%	1.41%
Gross Margin	100%	100%	100%	100%
Net Margin	100.15%	100.17%	98.14%	87.75%
Interest Coverage	-	-	141140.11x	2313.25x
FCF Conversion	7.24x	-0.19x	1.02x	7.76x
Revenue Growth	-	-158.48%	113.04%	-81.13%

Frequently Asked Questions

Valuation & Price

BlackRock Technology and Private Equity Term Trust (BTX) has a price-to-earnings (P/E) ratio of 40.8x. This suggests investors expect higher future growth.

Growth & Financials

BlackRock Technology and Private Equity Term Trust (BTX) reported $40.7M in revenue for fiscal year 2024.

BlackRock Technology and Private Equity Term Trust (BTX) saw revenue decline by 81.1% over the past year.

Yes, BlackRock Technology and Private Equity Term Trust (BTX) is profitable, generating $35.7M in net income for fiscal year 2024 (87.7% net margin).

Dividend & Returns

Yes, BlackRock Technology and Private Equity Term Trust (BTX) pays a dividend with a yield of 12.35%. This makes it attractive for income-focused investors.

BlackRock Technology and Private Equity Term Trust (BTX) has a return on equity (ROE) of 1.9%. This is below average, suggesting room for improvement.

BlackRock Technology and Private Equity Term Trust (BTX) generated $277.2M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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