Hercules Capital Inc (HCXY) Earnings History
Earnings Pressure22 years of earnings data (2004–2025) · 5-year EPS trend is negative
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Hercules Capital Inc (HCXY) Earnings Overview
As of June 29, 2026, Hercules Capital Inc (HCXY) reported trailing twelve-month net income of $332M, reflecting +14.9% year-over-year growth. The company earned $1.69 per diluted share over the past four quarters, with a net profit margin of 62.1%.
Looking at the long-term picture, HCXY's 5-year EPS compound annual growth rate (CAGR) stands at -1.6%, signaling declining earnings. The company achieved its highest annual net income of $340M in fiscal 2025, representing a new all-time high.
Hercules Capital Inc maintains industry-leading profitability with a gross margin of 87.2%, operating margin of 66.7%, and net margin of 62.1%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including ARCC ($1.15B net income, 41.3% margin), GBDC ($205M net income, 43.2% margin), TPVG (-$12M net income, 50.6% margin), HCXY has outperformed on profitability metrics. Compare HCXY vs ARCC →
HCXY Earnings vs Peers
Earnings metrics vs comparable public companies
HCXY Historical Earnings Data (2004–2025)
22 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $340M | +29.2% | $365M | $1.85 | 62.1% | 66.7% |
| 2024 | $263M | -22.1% | $263M | $1.61 | 61.0% | 61.0% |
| 2023 | $337M | +230.6% | $337M | $2.31 | 68.3% | 68.3% |
| 2022 | $102M | -41.4% | $102M | $0.79 | 42.6% | 42.6% |
| 2021 | $174M | -23.4% | $174M | $1.49 | 56.3% | 56.3% |
| 2020 | $227M | +30.9% | $227M | $2.01 | 63.6% | 63.6% |
| 2019 | $174M | +126.9% | $174M | $1.71 | 58.2% | 58.2% |
| 2018 | $76M | -3.2% | $76M | $0.83 | 43.6% | 43.6% |
| 2017 | $79M | +15.0% | $79M | $0.95 | 45.5% | 45.5% |
| 2016 | $69M | +60.1% | $69M | $0.91 | 47.9% | 47.9% |
| 2015 | $43M | -39.7% | $43M | $0.59 | 33.9% | 33.9% |
| 2014 | $71M | -28.4% | $71M | $1.10 | 49.7% | 49.7% |
| 2013 | $99M | +112.7% | $99M | $1.63 | 59.9% | 59.9% |
| 2012 | $47M | -0.4% | $47M | $0.93 | 48.6% | 48.6% |
| 2011 | $47M | +842.1% | $47M | $1.07 | 53.8% | 53.8% |
| 2010 | $5M | -63.3% | $5M | $0.12 | 14.2% | 14.2% |
| 2009 | $14M | -35.4% | $14M | $0.37 | 30.3% | 30.3% |
| 2008 | $21M | -50.5% | $21M | $0.64 | 36.8% | 36.8% |
| 2007 | $42M | +272.5% | $42M | $1.49 | 66.3% | 66.3% |
| 2006 | $11M | +440.8% | $11M | $0.84 | 37.4% | 37.4% |
| 2005 | $2M | +203.1% | $2M | $0.30 | 18.3% | 18.3% |
| 2004 | -$2M | - | -$2M | $-1.72 | - | - |
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HCXY — Frequently Asked Questions
Quick answers to the most common questions about buying HCXY stock.
What is HCXY earnings per share (EPS)?
HCXY trailing twelve-month (TTM) diluted EPS is $1.69, reflecting +14.9% year-over-year growth. The 5-year EPS CAGR is -1.6%. Complete EPS history from 2004 to 2025 is available in the table on this page.
What is Hercules Capital Inc's net income?
Hercules Capital Inc (HCXY) trailing twelve-month net income is $332M as of 2025. Earnings grew +14.9% year-over-year. Hercules Capital Inc has been profitable for 21 consecutive years.
Is HCXY profitable?
Yes, HCXY is profitable with a TTM net income of $332M and a net profit margin of +62.1%. Hercules Capital Inc has generated profits for 21 consecutive years.
What is HCXY's earnings growth rate?
HCXY compound annual EPS growth rates (CAGR): 1-Year: +14.9%, 3-Year: +32.8%, 5-Year: -1.6%, 10-Year: +12.1%. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 2004 to 2025.
What are HCXY's profit margins?
Hercules Capital Inc net profit margin is +62.1%, operating margin is +66.7%, and gross margin is +87.2%. Above-average net margins reflect strong pricing power and competitive moat. Return on Equity is +16.2%.
Is HCXY growing earnings?
HCXY is growing earnings steadily. YoY EPS growth of +14.9% is consistent with the 5-year CAGR of -1.6%. TTM net income is $332M.
What was HCXY's best earnings year?
Hercules Capital Inc's highest annual net income on record is $340M, achieved in fiscal year 2025. Earnings history on this page spans 2004 to 2025 and includes all annual and quarterly figures.
What were HCXY's earnings last quarter?
HCXY's most recent reported quarter was Q1 2026. Net income was $43M with diluted EPS of $0.23. For a full breakdown of all quarters, see the quarterly earnings table on this page.