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HRZNHorizon Technology Finance Corporation
$4.61$231M
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
HRZN logo

Horizon Technology Finance Corporation

HRZN
NASDAQ · Asset Management
$4.61
At close - Sep 23, 4:00 PM EDT - USD
Market Cap$231M
P/E-73.4x
52W High$6.85
Volume293.23K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q1

Persistent Margin Compression Masks Structural Solvency Risks

Horizon Technology Finance Corporation faces significant fundamental headwinds characterized by erratic revenue volatility and a deteriorating equity base, as evidenced by a $240.9M deficit in retained earnings. The firm's reliance on venture-debt cycles and n...

GrowthMixed
ProfitabilityNegative
ValuationExpensive
TechnicalsWeak
Explore valuation models
MARKET ACTION

HRZN price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

4/12 Beats

EPS beat 4 of last 12 quarters

02

Valuation risk

-900% Peers

P/E is 900% below peer median

03

Market leadership

RS 49 · Lag

Laggard (Underperforming 51% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Nov 4

Market performance

Price History →

Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
HRZN-18.88%
S&P 500 (^GSPC)+12.39%
1-Year Return
HRZN-10.24%
S&P 500 (^GSPC)+15.77%
3-Year Return
HRZN-26.80%
S&P 500 (^GSPC)+78.61%
5-Year Return
HRZN-33.41%
S&P 500 (^GSPC)+72.39%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y Low
-73.4x
Forward P/E
6.8x
EV/EBITDA
N/A
FCF YieldCash Flow
24.5%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
-73.4x
13.5x
0th· Low
EV/EBITDA
N/A
29.8x
N/A
Price/FCF
4.1x
8.1x
0th· Low
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
No DCF Model AvailableIntrinsic value modeling is not supported for this equity.

Growth & profitability

Annual revenue & EPS trend
Revenue
$7M+327.9% YoY
Net income
-$3M+52.8% YoY
Free cash flow
$57M+42.9% YoY
Operating margin
-4%+8.3 pts YoY
ROIC (TTM)-0.2%
Avg ROIC 5Y-
ROE (TTM)-0.8%
Piotroski Score5 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate4/12 (33%)
Revenue Beat Rate5/12 (42%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 4, 2026
$0.11-12.8%
vs $0.13
$25M-0.7%
vs $25M
Q2 2026
May 5, 2026
$0.19+0.0%
vs $0.19
$24M+5.3%
vs $23M
Q2 2026
Mar 3, 2026
$0.18-38.3%
vs $0.29
$21M-4.2%
vs $22M
Q4 2025
Oct 28, 2025
$0.31+10.7%
vs $0.28
$42M+61.5%
vs $26M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Business Wire·Sep 10, 2026
Horizon Technology Finance's RoHo Joint Venture Provides up to $30 Million Loan Facility to NeoVolta

FARMINGTON, Conn.--(BUSINESS WIRE)--Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon”) (the “Company”), an affiliate of Monroe Capital, today announced that the RoHo Capital Opportunity Fund LLC (“RoHo”), a joint venture formed by Horizon and CR Financial Holdings, Inc. (“CRFH”), the holding company for Roth Capital Partners, LLC (“Roth”), has provided a $20 million senior credit facility to NeoVolta, Inc. (NASDAQ: NEOV) (“NeoVolta”) with the ability to increase the facility to $.

Business Wire·Sep 2, 2026
Horizon Technology Finance Provides $15 Million Loan Facility to Bioness Medical

FARMINGTON, Conn.--(BUSINESS WIRE)--Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon”) (the “Company”), an affiliate of Monroe Capital, today announced it has provided a $15 million senior credit facility to Bioness Medical, Inc. (“Bioness”), with an initial $10 million funded at closing, and up to $5 million available to support Bioness's continued growth. Bioness develops and commercializes FDA-approved neurorehabilitation technologies designed to improve mobility and function.

Defense World·Aug 31, 2026
Horizon Technology Finance Corporation (NASDAQ:HRZN) Given Average Rating of “Hold” by Brokerages

Shares of Horizon Technology Finance Corporation (NASDAQ: HRZN - Get Free Report) have been assigned a consensus rating of "Hold" from the seven analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating

24/7 Wall Street·Aug 20, 2026
Double-Digit Yields Come With a Catch: How to Pick the Right Venture Lending BDC

Venture lending is the higher-octane corner of private credit. Business development companies, or BDCs, in this niche extend senior secured loans to venture-backed and lower-middle market private companies, then pass the interest income through to shareholders as dividends.

Filtered for Horizon Technology Finance CorporationMore Headlines
04

Compare before deciding

Benchmark HRZN against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Horizon Technology Finance Corporation (HRZN)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
HRZN logoHRZNHorizon Technology Finance CorporationCurrent
$4.61$230.88M-73.41327.86%-6.65%-0.81%27.2%
TPVG logoTPVGTriplePoint Venture Growth BDC Corp.
$4.92$199.75M4.0355.25%45.97%10.97%—
HTGC logoHTGCHercules Capital, Inc.
$16.97$3.18B9.1728.6%66.09%17.21%—
SUNS logoSUNSSunrise Realty Trust, Inc.
$7.35$99.36M7.74148.14%38.85%7.12%—
PFLT logoPFLTPennantPark Floating Rate Capital Ltd.
$7.02$696.51M9.75-27.91%21.46%4.82%—
ARCC logoARCCAres Capital Corporation
$19.15$13.75B10.30-11.83%45.18%6.78%—

Compare HRZN vs Peers

Horizon Technology Finance Corporation (HRZN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs TPVG

Most directly comparable listed peer for HRZN.

Scale Benchmark

vs ARCC

Larger-name benchmark to compare HRZN against a more recognizable public peer.

Peer Set

Compare Top 5

vs TPVG, HTGC, SUNS, PFLT

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

HRZN SEC Filings & Documents

Horizon Technology Finance Corporation (HRZN) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 4, 2026·SEC

Material company update

Aug 4, 2026·SEC

Material company update

Jun 26, 2026·SEC

10-K Annual Reports

2
FY 2026

Mar 3, 2026·SEC

FY 2025

Mar 4, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 4, 2026·SEC

FY 2026

May 5, 2026·SEC

FY 2025

Oct 28, 2025·SEC

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HRZN Frequently Asked Questions

Horizon Technology Finance Corporation (HRZN) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
How fast is Horizon Technology Finance Corporation growing?

Horizon Technology Finance Corporation (HRZN) grew revenue by 327.9% over the past year. This is strong growth.

Is HRZN profitable?

Yes, Horizon Technology Finance Corporation (HRZN) is profitable, generating $5.1M in net income for fiscal year 2025 (-6.6% net margin).

Dividend & Returns
Does HRZN pay dividends?

Yes, Horizon Technology Finance Corporation (HRZN) pays a dividend with a yield of 27.20%. This makes it attractive for income-focused investors.

What is HRZN's return on equity?

Horizon Technology Finance Corporation (HRZN) has a return on equity (ROE) of -0.8%. Negative ROE indicates the company is unprofitable.

Industry Metrics
What is Horizon Technology Finance Corporation's net interest margin?

Horizon Technology Finance Corporation (HRZN) has a net interest margin (NIM) of 7.1%. This indicates healthy earnings from lending activities.

What is Horizon Technology Finance Corporation's efficiency ratio?

Horizon Technology Finance Corporation (HRZN) has an efficiency ratio of 22.0%. This is excellent, indicating strong cost control.

What if you invested $1,000 in HRZN back in 2009?

Total return calculator · dividends reinvested · 17+ years of data

See returns →