Hercules Capital, Inc. (HCXY) Earnings History
Annual and quarterly earnings data from 2004 to 2025
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HCXY EPS Growth (CAGR)
Compound annual growth rate of diluted earnings per share
CAGR (Compound Annual Growth Rate) shows the annualized growth rate of EPS over the specified period. A higher CAGR indicates stronger earnings momentum.
HCXY Profitability Analysis
Margin trends over time
| Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| 2025 | 97.6% | 87.8% | 69.1% |
| 2024 | 87.0% | 57.1% | 62.5% |
| 2023 | 100.0% | 84.1% | 73.3% |
| 2022 | 100.0% | 79.5% | 31.7% |
| 2021 | 100.0% | 78.7% | 62.0% |
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Hercules Capital, Inc. (HCXY) Earnings Overview
As of May 8, 2026, Hercules Capital, Inc. (HCXY) reported trailing twelve-month net income of $339M, reflecting +14.9% year-over-year growth. The company earned $1.79 per diluted share over the past four quarters, with a net profit margin of 69.1%.
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 97.6%, operating margin of 87.8%, and net margin of 69.1%. 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 | +30.6% | $432M | $1.85 | 69.1% | 87.8% |
| 2024 | $260M | -22.9% | $237M | $1.61 | 62.5% | 57.1% |
| 2023 | $337M | +230.6% | $388M | $2.31 | 73.3% | 84.1% |
| 2022 | $102M | -41.4% | $256M | $1.24 | 31.7% | 79.5% |
| 2021 | $174M | -23.4% | $221M | $1.49 | 62.0% | 78.7% |
| 2020 | $227M | +30.9% | $228M | $2.01 | 79.1% | 79.5% |
| 2019 | $174M | +126.9% | $207M | $1.71 | 64.8% | 77.3% |
| 2018 | $76M | -3.2% | $116M | $0.84 | 56.2% | 85.2% |
| 2017 | $79M | +15.0% | $68M | $0.95 | 58.3% | 50.0% |
| 2016 | $69M | +60.1% | $76M | $0.91 | 61.7% | 68.2% |
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Start ComparisonHCXY — Frequently Asked Questions
Quick answers to the most common questions about buying HCXY stock.
Is HCXY growing earnings?
HCXY EPS stands at $1.79, with +14.9% growth matching the 5-year CAGR of -1.6%. TTM net income is $339M. Earnings trajectory remains consistent.
What are HCXY's profit margins?
Hercules Capital, Inc. net margin is +69.1%, with operating margin at +87.8%. Above-average margins indicate pricing power.
How consistent are HCXY's earnings?
HCXY earnings data spans 2004-2025. The current earnings trend is +14.9% YoY. Historical data enables comparison across business cycles.