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Horizon Technology Finance Corporation(HTFB)Earnings, Financials & Key Ratios
HTFB•NYSE
$25.72
Price updated Jun 20, 2026
AboutHorizon Technology Finance Corporation is a business development company specializing in lending and and investing in development-stage investments. It focuses on making secured debt and venture lending investments to venture capital backed companies in the technology, life science, healthcare information and services, and cleantech industries. It seeks to invest in companies in the United States.Show more
- EBITDA$30M+825.1%
- Net Income$45M+907.3%
- EPS (Diluted)1.05+756.3%
- Gross Margin67.58%+1259.8%
- EBITDA Margin73.69%+701.7%
- Operating Margin80.58%+758.0%
- Net Margin111.17%+769.9%
- ROE13.89%+914.1%
HTFB Price & Volume
Horizon Technology Finance Corporation (HTFB) stock price & volume — 10-year historical chart
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Accounting Volatility Masks Underlying Credit Portfolio Risks
Investment Thesis • Updated 2025Q4
VerdictNegative
Growth:Mixed
Profitability:Strained
Financial:Mixed
Cash Flow:Deteriorating
Primary Risk:Portfolio Valuation Volatility
Key Thesis Takeaways
- Horizon Technology Finance Corporation exhibits a highly erratic financial profile where net income is frequently decoupled from core operating performance, as evidenced by a $57.0M net income in 2025Q4 despite negative revenue.
- The firm's reliance on fair-value adjustments creates significant earnings quality concerns, while the consistent erosion of retained earnings to -$240.9M suggests structural challenges in organic capital generation.
- Investors should remain cautious as dividend payouts frequently outpace operating cash flow, creating potential sustainability risks for income-focused portfolios.
Verdict Logic
the company's reliance on non-operating income to support a 5.0% dividend yield, coupled with a significant erosion of retained earnings to -$240.9M, suggests that current capital allocation strategies may not be supported by sustainable cash generation.
HTFB Growth Metrics
Horizon Technology Finance Corporation (HTFB) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years10.58%
5 Years15.38%
3 Years-3.73%
TTM-
Profit CAGR
10 Years14.39%
5 Years48.19%
3 Years29.07%
TTM907.17%
EPS CAGR
10 Years-0.09%
5 Years23.87%
3 Years6.88%
TTM550%
Return on Capital
10 Years4.69%
5 Years2.3%
3 Years0.59%
Last Year4.34%
HTFB Recent Earnings
Horizon Technology Finance Corporation (HTFB) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 1/9 qtrs (33%)●Beat Revenue 1/9 qtrs (33%)
Q2 2026Latest
Mar 3, 2026Metric
Actual
Est
EPS
$0.80
—
Rev
$21M
—
Q4 2025
Oct 28, 2025Metric
Actual
Est
EPS
$0.31+4.7%
$0.30
Rev
$4M-82.9%
$22M
Q3 2025
Aug 7, 2025Metric
Actual
Est
EPS
$0.50-281.8%
$0.28
Rev
$15M-31.5%
$22M
Q2 2025
Apr 29, 2025Metric
Actual
Est
EPS
$0.28-3.0%
$0.28
Rev
$25M+9.0%
$22M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 3, 2026 | $0.80 | $21M |
| Q4 2025 | Oct 28, 2025 | $0.31vs $0.30+4.7% | $4Mvs $22M-82.9% |
| Q3 2025 | Aug 7, 2025 | $0.50vs $0.28-281.8% | $15Mvs $22M-31.5% |
| Q2 2025 | Apr 29, 2025 | $0.28vs $0.28-3.0% | $25Mvs $22M+9.0% |
Based on last 9 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Horizon Technology Finance Corporation (HTFB)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $25.72 | $1.14B | -160.75 | 20.51% | 111.17% | 13.89% | 4.99% | |
| $4.70 | $190.82M | 3.85 | 36.55% | -19.55% | -3.39% | — | |
| $4.41 | $194.61M | 4.20 | 17.91% | 37.39% | 8.95% | — | |
| $8.42 | $113.82M | 8.86 | 148.14% | 41.96% | 7.25% | — | |
| $12.42 | $677.57M | 7.31 | 24.76% | 39.78% | 7.31% | — | |
| $7.40 | $734.21M | 10.28 | 2.2% | 34.83% | 5.84% | — |
Compare HTFB vs Peers
Horizon Technology Finance Corporation (HTFB) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
HTFB SEC Filings & Documents
Horizon Technology Finance Corporation (HTFB) SEC filings — annual & quarterly reports (10-K, 10-Q)
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HTFB Frequently Asked Questions
Horizon Technology Finance Corporation (HTFB) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Horizon Technology Finance Corporation's revenue?
Horizon Technology Finance Corporation (HTFB) reported $18.2M in revenue for fiscal year 2025.
How fast is Horizon Technology Finance Corporation growing?
Horizon Technology Finance Corporation (HTFB) grew revenue by 20.5% over the past year. This is strong growth.
Is HTFB profitable?
Yes, Horizon Technology Finance Corporation (HTFB) is profitable, generating $45.5M in net income for fiscal year 2025 (111.2% net margin).
Dividend & Returns
Does HTFB pay dividends?
Yes, Horizon Technology Finance Corporation (HTFB) pays a dividend with a yield of 4.99%. This makes it attractive for income-focused investors.
What is HTFB's return on equity?
Horizon Technology Finance Corporation (HTFB) has a return on equity (ROE) of 13.9%. This is reasonable for most industries.
What is Horizon Technology Finance Corporation's free cash flow?
Horizon Technology Finance Corporation (HTFB) generated $37.4M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.