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HTGCHercules Capital, Inc.
$16.97$3.2B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
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P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
HTGC logo

Hercules Capital, Inc.

HTGC
NYSE · Asset Management
$16.97
At close - Sep 23, 4:00 PM EDT - USD
Market Cap$3.18B
P/E9.2x
52W High$19.38
Volume1.12M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Record Earnings Inflection Masks Venture Debt Credit Risk

Hercules Capital's 2026Q2 results mark a clear earnings inflection, with net income of $130.2M and EPS of $0.65, the highest in the reported period, driven by a $25.0M provision benefit and strong non-interest income. The company continues to expand its portfo...

GrowthAccelerating
ProfitabilityStrong
ValuationExpensive
TechnicalsHealthy
Explore valuation models
MARKET ACTION

HTGC 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

6/12 Beats

EPS beat 6 of last 12 quarters

02

Valuation risk

-8% Peers

P/E is 8% below peer median

03

Market leadership

RS 68 · Avg

Average momentum (RS Rating: 68)

04

Healthy Uptrend

Uptrend

Price > 50DMA > 200DMA

Next CatalystEstimated earnings · Oct 30

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
HTGC-2.55%
S&P 500 (^GSPC)+12.39%
1-Year Return
HTGC-1.25%
S&P 500 (^GSPC)+15.77%
3-Year Return
HTGC+38.84%
S&P 500 (^GSPC)+74.88%
5-Year Return
HTGC+60.41%
S&P 500 (^GSPC)+72.89%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y Low
9.2x
Forward P/EExpansion
8.8x
EV/EBITDA20th %ile
14.8x
FCF YieldCash Flow
N/A

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
9.2x
11.1x
20th· Low
EV/EBITDA
14.8x
17.4x
20th· Low
Price/FCF
N/A
35.8x
N/A
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$24.48+44.3%
Base (Fair)$24.90+43.7%
Bull$31.69+86.7%
$24.48 Bear$24.90 Base$31.69 Bull
Current Market Price: $16.97
Trades at a 31.8% discount to Base DCF ($24.90)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$455M+28.6% YoY
Net income
$340M+29.2% YoY
Free cash flow
-$426M-258.5% YoY
Operating margin
66.7%+5.7 pts YoY
ROIC (TTM)6.6%
Avg ROIC 5Y-
ROE (TTM)16.2%
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 Rate6/12 (50%)
Revenue Beat Rate5/12 (42%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Jul 30, 2026
$0.50+3.1%
vs $0.48
$149M+1.6%
vs $147M
Q2 2026
May 5, 2026
$0.48+2.1%
vs $0.47
$142M+0.1%
vs $141M
Q1 2026
Feb 12, 2026
$0.48+0.0%
vs $0.48
$137M-2.9%
vs $142M
Q4 2025
Oct 30, 2025
$0.49+2.1%
vs $0.48
$169M+19.9%
vs $141M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Seeking Alpha·2d ago
The 3 Most Dangerous Investing Mistakes I Keep Seeing

Many investors are growing increasingly complacent. I detail three very big mistakes that I am seeing a lot of investors make right now. I discuss why bonds may be riskier than they seem, historically cheap-looking high-yield securities may not be nearly as undervalued as they seem, and many investors are overpaying for outperformers.

Zacks Investment Research·6d ago
Hercules Capital (HTGC) Advances But Underperforms Market: Key Facts

Hercules Capital (HTGC) closed at $17.76 in the latest trading session, marking a +1.08% move from the prior day.

Business Wire·6d ago
Hercules Capital Announces the Appointment of Alfred B. Fichera to Its Board of Directors

SAN MATEO, Calif.--(BUSINESS WIRE)--Hercules Capital, Inc. (NYSE: HTGC) (“Hercules,” “Hercules Capital,” or the “Company”), the largest and leading specialty financing provider to innovative venture, growth and established stage companies backed by some of the leading and top-tier venture capital and select private equity firms, today announced that Alfred B. Fichera was appointed to serve as an independent member of its board of directors, effective September 17, 2026. Mr. Fichera is an experi.

247 Wallst·6d ago
How Large Does Your Portfolio Need to Be to Generate $10,600 a Month?

The capital required to replace a professional salary with investment income swings by more than $2 million depending on one decision, and most investors default to the wrong tier without realizing it.

Filtered for Hercules Capital, Inc.More Headlines
04

Compare before deciding

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

Peers Comparison

Key metrics vs top competitors for Hercules Capital, Inc. (HTGC)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
HTGC logoHTGCHercules Capital, Inc.Current
$16.97$3.18B9.1728.6%62.1%16.16%8.35%
ARCC logoARCCAres Capital Corporation
$19.15$13.75B10.30-11.83%45.18%6.78%—
GBDC logoGBDCGolub Capital BDC, Inc.
$12.45$3.24B8.7744.68%20.51%3.82%—
OBDC logoOBDCBlue Owl Capital Corporation
$10.95$5.43B8.8362.44%20.43%3.95%—
TPVG logoTPVGTriplePoint Venture Growth BDC Corp.
$4.92$199.75M4.0355.25%45.97%10.97%—
GSBD logoGSBDGoldman Sachs BDC, Inc.
$9.64$1.09B9.3666.3%28.44%4.17%—

Compare HTGC vs Peers

Hercules Capital, Inc. (HTGC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ARCC

Most directly comparable listed peer for HTGC.

Scale Benchmark

vs ARES

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

Peer Set

Compare Top 5

vs ARCC, GBDC, OBDC, TPVG

05

Keep researching

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

HTGC SEC Filings & Documents

Hercules Capital, Inc. (HTGC) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Jul 30, 2026·SEC

Material company update

Jul 24, 2026·SEC

Material company update

Jul 21, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 12, 2026·SEC

FY 2025

Feb 13, 2025·SEC

FY 2024

Feb 15, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Jul 30, 2026·SEC

FY 2026

May 5, 2026·SEC

FY 2025

Oct 30, 2025·SEC

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HTGC Frequently Asked Questions

Hercules Capital, Inc. (HTGC) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
How fast is Hercules Capital, Inc. growing?

Hercules Capital, Inc. (HTGC) grew revenue by 28.6% over the past year. This is strong growth.

Is HTGC profitable?

Yes, Hercules Capital, Inc. (HTGC) is profitable, generating $383.2M in net income for fiscal year 2025 (62.1% net margin).

Dividend & Returns
Does HTGC pay dividends?

Yes, Hercules Capital, Inc. (HTGC) pays a dividend with a yield of 8.35%. This makes it attractive for income-focused investors.

What is HTGC's return on equity?

Hercules Capital, Inc. (HTGC) has a return on equity (ROE) of 16.2%. This is reasonable for most industries.

Industry Metrics
What is Hercules Capital, Inc.'s net interest margin?

Hercules Capital, Inc. (HTGC) has a net interest margin (NIM) of 9.1%. This indicates healthy earnings from lending activities.

What is Hercules Capital, Inc.'s efficiency ratio?

Hercules Capital, Inc. (HTGC) has an efficiency ratio of 20.5%. This is excellent, indicating strong cost control.

What if you invested $1,000 in HTGC back in 2004?

Total return calculator · dividends reinvested · 22+ years of data

See returns →