Last 48 quarters of trend data · Financial Services · BDCs & Private Credit
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -20.03 | — | — | 17.93 | 8.49 | 2.28 | — | — | — | 13.31 | — | 10.93 | — | — | 592.16 | 14.84 | 19.33 | 10.88 | 9.31 | 21.72 | 36.18 |
| — | — | — | — | — | -82.9% | — | — | — | — | — | -26.3% | — | — | +6262.9% | -31.7% | -46.6% | +68.6% | -26.7% | +87.3% | +42.1% | |
| P/S Ratio | 4.21 | 25.42 | 4.45 | 3.16 | 6.13 | 2.08 | — | — | — | 10.74 | — | 9.04 | 4.07 | — | 53.10 | 11.32 | 13.45 | 8.95 | 8.03 | 15.52 | 21.25 |
| — | +1123.9% | — | — | — | -80.7% | — | — | — | — | — | -20.1% | -69.8% | — | +561.1% | -27.1% | -36.7% | +51.6% | -23.2% | +61.5% | +24.8% | |
| P/B Ratio | 0.53 | 34.46 | 0.74 | 0.60 | 0.86 | 0.89 | 1.05 | 1.24 | 0.97 | 1.14 | 1.30 | 1.15 | 1.36 | 1.11 | 1.01 | 0.99 | 0.98 | 0.84 | 0.97 | 1.09 | 1.34 |
| — | +3790.7% | -29.6% | -51.9% | -11.2% | -22.1% | -19.4% | +7.9% | -28.8% | +2.2% | +28.3% | +16.1% | +38.2% | +32.8% | +4.8% | -9.0% | -26.7% | -39.6% | -36.8% | -15.0% | +14.3% | |
| P/FCF | 1.29 | 1.43 | 0.94 | 5.07 | 7.57 | 1.38 | 1.50 | 9.71 | — | 7.43 | 10.78 | 12.43 | 8.22 | — | 10.78 | 6.25 | — | 5.70 | — | — | 9.70 |
| — | +3.8% | -36.9% | -47.8% | — | -81.4% | -86.1% | -21.9% | — | — | +0.0% | +98.9% | — | — | — | — | — | -42.0% | — | — | -30.8% | |
| EV / EBITDA | — | — | — | 13.96 | 16.96 | 4.98 | — | — | — | 25.20 | — | 21.79 | — | — | 568.71 | 33.62 | 40.97 | 24.32 | 19.13 | 37.45 | 54.94 |
| — | — | — | — | — | -80.2% | — | — | — | — | — | -35.2% | — | — | +2873.1% | -10.2% | -25.4% | +120.2% | -3.1% | +102.3% | +38.6% | |
| EV / EBIT | — | — | — | 13.96 | 18.26 | 4.98 | — | — | — | 25.20 | — | 21.79 | — | — | 568.71 | 33.62 | 40.97 | 24.32 | 19.13 | 37.45 | 54.94 |
| — | — | — | — | — | -80.2% | — | — | — | — | — | -35.2% | — | — | +2873.1% | -10.2% | -25.4% | +120.2% | -3.1% | +102.3% | +38.6% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 100.0% | — | 127.0% | 116.9% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 86.7% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| — | — | +27.0% | +16.9% | 0.0% | 0.0% | 0.0% | 0.0% | +15.3% | 0.0% | 0.0% | 0.0% | -13.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin | -22.1% | — | 89.6% | 78.7% | 78.7% | 92.4% | 112.8% | 108.0% | 113.8% | 84.4% | 119.6% | 85.5% | -10.9% | 112.2% | 19.6% | 78.1% | 76.3% | 84.6% | 88.5% | 73.8% | 64.6% |
| — | — | -20.6% | -27.1% | -30.8% | +9.5% | -5.7% | +26.2% | +1142.3% | -24.8% | +511.5% | +9.6% | -114.3% | +32.6% | -77.9% | +5.7% | +18.1% | -7.8% | +6.8% | -12.0% | -10.0% | |
| Net Margin | -36.9% | 418.9% | -216.0% | 17.7% | 79.2% | 91.3% | 114.9% | 109.9% | 117.2% | 80.2% | 124.5% | 81.9% | -39.5% | 113.9% | 9.0% | 75.4% | 69.2% | 83.2% | 87.3% | 71.8% | 58.7% |
| — | +359.0% | -288.1% | -83.9% | -32.4% | +13.7% | -7.7% | +34.1% | +396.8% | -29.6% | +1285.8% | +8.6% | -157.1% | +36.9% | -89.7% | +5.1% | +18.0% | -8.9% | +6.2% | -13.6% | -10.6% |
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -0.8% | 5.9% | -9.9% | 0.9% | 2.8% | 10.2% | -7.1% | -6.7% | -3.7% | 2.2% | -2.8% | 2.6% | -3.2% | -3.4% | 0.0% | 1.7% | 1.3% | 2.0% | 2.7% | 1.3% | 0.9% |
| — | -42.6% | -40.6% | +112.7% | +176.0% | +372.7% | -155.2% | -353.3% | -15.2% | +163.5% | -6255.5% | +59.1% | -347.7% | -270.4% | -98.3% | +23.6% | +36.8% | -63.8% | -12.3% | -52.1% | -18.2% | |
| ROA | -0.3% | 3.0% | -4.6% | 0.3% | 1.1% | 4.1% | -2.7% | -2.7% | -1.5% | 0.9% | -1.1% | 1.1% | -1.3% | -1.5% | 0.0% | 0.7% | 0.6% | 0.9% | 1.3% | 0.7% | 0.4% |
| — | -27.9% | -67.5% | +113.0% | +173.0% | +348.9% | -138.5% | -346.7% | -15.5% | +160.9% | -6022.7% | +57.0% | -340.2% | -270.2% | -98.5% | +2.9% | +24.9% | -66.6% | -13.6% | -51.4% | -27.3% | |
| ROIC | -0.2% | — | 1.4% | 1.2% | 0.9% | 3.2% | -2.1% | -2.0% | -1.1% | 0.7% | -0.8% | 0.9% | -0.3% | -1.1% | 0.0% | 0.5% | 0.5% | 0.7% | 1.0% | 0.5% | 0.4% |
| — | — | +170.1% | +159.0% | +175.0% | +334.3% | -144.2% | -332.3% | -306.3% | +165.1% | -2710.8% | +58.5% | -160.2% | -264.6% | -96.7% | +3.5% | +24.9% | -66.2% | -13.2% | -50.5% | -26.8% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.49 | — | 0.96 | 1.34 | 1.49 | 1.34 | 1.50 | 1.53 | 1.39 | 1.27 | 1.35 | 1.36 | 1.43 | 1.26 | 1.18 | 1.37 | 1.36 | 1.17 | 1.26 | 0.89 | 1.05 |
| — | — | -35.7% | -12.4% | +6.7% | +6.0% | +11.2% | +12.3% | -2.4% | +0.8% | +14.5% | -0.3% | +4.7% | +7.7% | -6.3% | +52.8% | +29.8% | +7.5% | +27.9% | -19.5% | +20.1% | |
| Debt / EBITDA | 451.79 | — | — | 40.81 | 50.10 | 13.64 | — | — | — | 56.72 | — | 50.10 | — | — | 1262.89 | 80.08 | 98.03 | 58.92 | 47.24 | 69.16 | 103.33 |
| — | — | — | — | — | -76.0% | — | — | — | — | — | -37.4% | — | — | +2573.4% | +15.8% | -5.1% | +193.0% | +45.6% | +73.7% | +45.6% | |
| Current Ratio | 1.24 | — | 1.97 | 3.34 | 1.24 | 1.31 | 0.56 | 0.71 | 5.08 | 4.31 | 6.38 | 3.74 | 3.92 | 3.41 | 0.74 | 2.17 | 2.59 | 2.48 | 5.21 | 2.01 | 4.14 |
| — | — | +250.9% | +369.1% | -75.7% | -69.5% | -91.2% | -81.0% | +29.8% | +26.1% | +760.1% | +72.2% | +51.4% | +37.7% | -85.8% | +7.6% | -37.5% | -10.8% | +46.3% | -74.4% | +41.8% | |
| Quick Ratio | 1.24 | — | 1.97 | 3.34 | 1.24 | 1.31 | 0.56 | 0.71 | 5.08 | 4.31 | 6.38 | 3.74 | 3.92 | 3.41 | 0.74 | 2.17 | 2.59 | 2.48 | 5.21 | 2.01 | 4.14 |
| — | — | +250.9% | +369.1% | -75.7% | -69.5% | -91.2% | -81.0% | +29.8% | +26.1% | +760.1% | +72.2% | +51.4% | +37.7% | -85.8% | +7.6% | -37.5% | -10.8% | +46.3% | -74.4% | +41.8% | |
| Interest Coverage | -0.05 | — | -3.75 | 1.34 | 1.09 | 3.94 | -2.49 | -2.43 | -1.47 | 0.96 | -1.11 | 1.11 | -0.39 | -1.66 | 0.05 | 0.77 | 0.71 | 1.14 | 1.83 | 1.06 | 0.77 |
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Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying HRZN stock.
Horizon Technology Finance Corporation's current P/E is -20.0x. The average P/E over the last 2 quarters is 13.2x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Horizon Technology Finance Corporation's current operating margin is -22.1%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Horizon Technology Finance Corporation's business trajectory between earnings reports.