TriplePoint Venture Growth BDC Corp. (TPVG) 10-Year Financial Performance & Capital Metrics

TPVG • • Banking & Credit

Financial ServicesAsset ManagementBusiness Development Companies (BDCs)Middle Market Lenders

AboutTriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments. It also provides debt financing to venture growth space companies which includes growth capital loans, secured and customized loans, equipment financings, revolving loans and direct equity investments. The fund seeks to invest in e-commerce, entertainment, technology and life sciences sector. Within technology the areas of focus include: Security, wireless communication equipments, network system and software, business applications software, conferencing equipments/services .big data, cloud computing, data storage, electronics, energy efficiency, hardware, information services, internet and media, networking, semiconductors, software, software as a service, and other technology related subsectors and within life sciences the areas of focus include: biotechnology, bio fuels/bio mass, diagnostic testing and bioinformatics, drug delivery, drug discovery, healthcare information systems, healthcare services, medical, surgical and therapeutic devices, pharmaceuticals and other life science related subsectors. Within growth capital loans it invests between $5 million and $50 million, for equipment financings it invests between $5 million and $25 million, for revolving loans it invests between $1 million and $25 million, and for direct equity investments it may invest between $0.1 million and $5 million (generally not exceeding 5% of the company's total equity). The debt financing products are typically structured as lines of credit and it invests through warrants and secured loans. It targeted returns between 10% and 18%. It does not take board seat in the company.Show more

Net Interest Income $81M -19.4%
Total Revenue $71M +1092.4%
Net Income $32M +180.5%
Return on Equity 9.26% +189.1%
Net Interest Margin 10.58% +3.3%
Efficiency Ratio 18.94% -91.1%
ROA 3.68% +192.1%
Equity / Assets 45.3% +28.1%
Book Value per Share 8.84 -8.8%
Tangible BV/Share 8.84 -8.8%
Debt/Equity 1.15 -34.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓Strong NIM of 10.6%
✓Efficient operations: 18.9% efficiency ratio
✓Well capitalized: 45.3% equity/assets
✓Trading at only 0.8x book value

✗Weaknesses

✗Dividend payout exceeds 100% of earnings

Price & Volume

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Growth Metrics

Revenue CAGR

10Y9.05%

5Y7.23%

3Y-10.93%

TTM-

Profit (Net Income) CAGR

10Y6.45%

5Y0.18%

3Y-25.2%

TTM224.92%

EPS CAGR

10Y-7.25%

5Y-8.52%

3Y-30.76%

TTM123.81%

ROCE

10Y Avg5.66%

5Y Avg2.46%

3Y Avg-0.79%

Latest3.68%

Peer Comparison

Middle Market Lenders

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GSBDGoldman Sachs BDC, Inc.	1.08B	9.43	17.15	-57.7%	32.67%	9.15%	18.68%	1.23
CSWCCapital Southwest Corporation	1.36B	23.72	16.14	7.67%	43.07%	9.13%		1.08
HCXYHercules Capital, Inc.	2.36B	25.18	15.64	-9.71%	62.54%	14.13%		0.90
TRINITrinity Capital Inc. 7.875% Notes Due 2029	1.91B	25.41	12.10	29.68%	50.98%	15.22%	4.92%	1.08
HTGCHercules Capital, Inc.	3.45B	18.97	11.78	-12.79%	61.03%	14.17%		0.90
TSLXSixth Street Specialty Lending, Inc.	2.12B	22.40	11.03	-2.72%	51.86%	11.83%	8.85%	1.18
MAINMain Street Capital Corporation	5.75B	64.20	10.97	18.32%	70.11%	18.28%		0.76
GBDCGolub Capital BDC, Inc.	3.68B	13.95	9.82	80.52%	46.2%	9.4%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	-6.29M	36.48M	43.49M	-9.08M	60.52M	75.85M	69.44M	93.67M	100.21M	80.73M
NII Growth %	-	6.8%	0.19%	-1.21%	7.67%	0.25%	-0.08%	0.35%	0.07%	-0.19%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	39.9M	41.77M	50.03M	0	70.52M	88.57M	82.83M	116.57M	133.25M	106.38M
Interest Expense	3.62M	5.28M	6.55M	9.08M	10.01M	12.73M	13.39M	22.9M	33.04M	25.66M
Loan Loss Provision	7.39M	0	0	6.54M	0	0	0	0	0	0
Non-Interest Income+	-17.37M	-18.32M	-16.33M	41.53M	-20.32M	-31.08M	17.91M	-103.18M	-127.28M	-35.2M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	22.54M	23.45M	33.7M	41.53M	50.21M	57.5M	100.74M	13.39M	5.97M	71.19M
Revenue Growth %	-0.25%	0.04%	0.44%	0.23%	0.21%	0.15%	0.75%	-0.87%	-0.55%	10.92%
Non-Interest Expense	7.02M	-4.84M	889K	4.96M	8.44M	9.46M	10.79M	10.56M	12.75M	13.49M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	21.96M	23.01M	26.27M	34.99M	31.76M	35.31M	76.56M	-20.07M	-39.82M	32.05M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.1%	0.05%	0.14%	0.33%	-0.09%	0.11%	1.17%	-1.26%	-0.98%	1.8%
Pretax Income+	15.52M	11.13M	19.23M	36.56M	31.76M	35.31M	76.56M	-20.07M	-39.82M	32.05M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	296K	0	0	0	0	0	0	0	0	0
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	15.52M	11.13M	19.23M	36.56M	31.76M	35.31M	76.56M	-20.07M	-39.82M	32.05M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.09%	-0.28%	0.73%	0.9%	-0.13%	0.11%	1.17%	-1.26%	-0.98%	1.8%
Net Income (Continuing)	15.52M	11.13M	19.23M	36.56M	31.76M	35.31M	76.56M	-20.07M	-39.82M	32.05M
EPS (Diluted)+	1.03	0.69	1.18	1.78	1.28	1.16	2.47	-1.43	-1.12	0.82
EPS Growth %	-0.41%	-0.33%	0.71%	0.51%	-0.28%	-0.09%	1.13%	-1.58%	0.22%	1.73%
EPS (Basic)	1.03	0.69	1.18	1.78	1.28	1.16	2.47	-1.43	-1.12	0.82
Diluted Shares Outstanding	15.04M	16.16M	16.32M	20.49M	24.84M	30.57M	30.94M	32.69M	35.71M	39.1M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	32.45M	7.78M	4.48M	3.38M	20.29M	38.22M	51.27M	51.49M	153.33M	45.9M
Short Term Investments	1000K	1000K	1000K	1000K	0	0	0	0	0	0
Total Investments+	-57.86M	-25.69M	-104.86M	8.07M	48.61M	50.44M	0	0	0	0
Investments Growth %	-0.46%	0.56%	-3.08%	1.08%	5.02%	0.04%	-1%	-	-	-
Long-Term Investments	-127.86M	-65.68M	-229.77M	-11.93M	48.61M	50.44M	0	0	0	0
Accounts Receivables	0	0	0	0	0	0	0	0	0	0
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
PP&E (Net)	0	0	0	0	0	0	0	0	0	0
Other Assets	407.16M	449.46M	608.34M	453.09M	612.28M	592.95M	875.38M	961.17M	823.11M	717.14M
Total Current Assets	103.02M	50.44M	131.71M	25.89M	23.26M	40.12M	52.28M	53.36M	155.71M	45.9M
Total Non-Current Assets	279.3M	383.79M	378.57M	441.16M	660.89M	643.39M	875.38M	961.17M	823.11M	717.14M
Total Assets+	382.32M	434.22M	510.28M	467.05M	684.15M	683.51M	927.67M	1.01B	978.83M	763.04M
Asset Growth %	0.17%	0.14%	0.18%	-0.08%	0.46%	-0%	0.36%	0.09%	-0.04%	-0.22%
Return on Assets (ROA)	0.04%	0.03%	0.04%	0.07%	0.06%	0.05%	0.1%	-0.02%	-0.04%	0.04%
Accounts Payable	70M	39.99M	124.91M	20M	0	3.09M	0	0	0	0
Total Debt+	70.91M	336.58M	139.43M	95.94M	335.75M	261.11M	467.5M	566.98M	607.9M	398.83M
Net Debt	38.46M	328.8M	134.95M	92.56M	315.47M	222.89M	416.23M	515.49M	454.57M	352.93M
Long-Term Debt	52.91M	168.29M	72.43M	72.94M	335.75M	261.11M	467.5M	566.98M	607.9M	398.83M
Short-Term Debt	18M	168.29M	67M	23M	0	0	0	0	0	0
Other Liabilities	2.9M	-165.57M	2.63M	4.35M	15.89M	18.88M	25.68M	27.61M	24.62M	18.53M
Total Current Liabilities	94.87M	215.64M	200.28M	55.23M	0	3.09M	0	0	0	0
Total Non-Current Liabilities	55.81M	2.72M	75.06M	77.29M	351.64M	279.99M	493.18M	594.59M	632.52M	417.35M
Total Liabilities	150.68M	218.36M	275.34M	132.52M	351.64M	283.07M	493.18M	594.59M	632.52M	417.35M
Total Equity+	231.65M	215.86M	234.94M	334.53M	332.51M	400.44M	434.49M	419.94M	346.31M	345.69M
Equity Growth %	0.6%	-0.07%	0.09%	0.42%	-0.01%	0.2%	0.09%	-0.03%	-0.18%	-0%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.08%	0.05%	0.09%	0.13%	0.1%	0.1%	0.18%	-0.05%	-0.1%	0.09%
Book Value per Share	15.40	13.36	14.39	16.33	13.38	13.10	14.04	12.85	9.70	8.84
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	163K	160K	177K	248K	249K	309K	310K	353K	376K	401K
Additional Paid-in Capital	235.21M	212.01M	235.49M	331.33M	333.05M	412.51M	414.22M	470.57M	492.93M	513.72M
Retained Earnings	34.77M	82K	-720K	2.95M	-795K	-12.39M	19.96M	-50.98M	-147M	-168.43M
Accumulated OCI	-4.96M	-16.84M	-1.7M	0	0	0	0	0	0	0
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	2.15M	-93.69M	25.1M	-17.82M	-187.54M	30.42M	-144.68M	-100.89M	49.23M	152.92M
Operating CF Growth %	1.01%	-44.66%	1.27%	-1.71%	-9.52%	1.16%	-5.76%	0.3%	1.49%	2.11%
Net Income	15.52M	11.13M	19.23M	36.56M	31.76M	35.31M	76.56M	-20.07M	-39.82M	32.05M
Depreciation & Amortization	-310K	-977K	-1.01M	4.99M	-2.03M	0	-4.6M	-8.38M	0	0
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	-31.96M	-71.98M	-79.3M	39.52M	-196.03M	-8.95M	-224.33M	-73.52M	92.56M	128.75M
Working Capital Changes	18.89M	-31.86M	86.18M	-98.89M	-21.24M	4.06M	7.69M	1.08M	-3.5M	-7.87M
Cash from Investing+	-121.09M	-126.34M	-318.15M	-158.61M	-397.18M	30.16M	-417.37M	-421M	56.92M	0
Purchase of Investments	-121.09M	-126.34M	-318.15M	-158.61M	-397.18M	-206.14M	-417.37M	-421M	-126.99M	-136.02M
Sale/Maturity of Investments	0	0	0	1000K	1000K	1000K	1000K	1000K	1000K	0
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	0	0	0	0
Other Investing	0	0	0	0	-223.04M	0	-238.34M	-276.18M	0	136.02M
Cash from Financing+	23.4M	69.01M	-30.57M	17.76M	204.03M	-42.35M	159.15M	101M	6.17M	-245.78M
Dividends Paid	-19.24M	-21.53M	-22.62M	-31.59M	-33.78M	-42.53M	-45.59M	-49.59M	-54.92M	-52.09M
Share Repurchases	-5.55M	-5.38M	0	0	0	0	0	0	0	0
Stock Issued	95.94M	0	22.47M	94.61M	0	78.24M	0	55.11M	21.11M	19.43M
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	1000K	-1000K	-1000K	1000K	-1000K	1000K	1000K	1000K	-1000K
Other Financing	-503K	-1.08M	0	-1.26M	-1.49M	45.28M	-2.51M	-4.52M	-26K	-3.11M
Net Change in Cash+	25.55M	-24.68M	-5.47M	-57K	16.49M	18.24M	14.47M	113K	112.32M	-92.86M
Exchange Rate Effect	1000K	1000K	1000K	1000K	1000K	0	1000K	1000K	0	0
Cash at Beginning	6.91M	32.45M	15.48M	10.01M	9.95M	26.44M	44.68M	59.15M	59.26M	171.58M
Cash at End	32.45M	7.78M	10.01M	9.95M	26.44M	44.68M	59.15M	59.26M	171.58M	78.73M
Interest Paid	0	0	0	0	0	0	0	0	0	0
Income Taxes Paid	0	0	0	0	0	0	0	0	0	0
Free Cash Flow+	2.15M	-93.69M	25.1M	-17.82M	-187.54M	30.42M	-144.68M	-100.89M	49.23M	152.92M
FCF Growth %	1.01%	-44.66%	1.27%	-1.71%	-9.52%	1.16%	-5.76%	0.3%	1.49%	2.11%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	8.24%	4.97%	8.53%	12.84%	9.52%	9.63%	18.34%	-4.7%	-10.39%	9.26%
Return on Assets (ROA)	4.38%	2.73%	4.07%	7.48%	5.52%	5.16%	9.5%	-2.07%	-4%	3.68%
Net Interest Margin	-1.64%	8.4%	8.52%	-1.94%	8.85%	11.1%	7.49%	9.23%	10.24%	10.58%
Efficiency Ratio	31.13%	-20.66%	2.64%	11.95%	16.82%	16.46%	10.71%	78.84%	213.6%	18.94%
Equity / Assets	60.59%	49.71%	46.04%	71.63%	48.6%	58.59%	46.84%	41.39%	35.38%	45.3%
Book Value / Share	15.4	13.36	14.39	16.33	13.38	13.1	14.04	12.85	9.7	8.84
NII Growth	-	680.48%	19.2%	-120.88%	766.51%	25.33%	-8.45%	34.9%	6.98%	-19.44%
Dividend Payout	123.96%	193.54%	117.63%	80.79%	106.38%	-	59.55%	-	-	162.55%

Frequently Asked Questions

Valuation & Price

TriplePoint Venture Growth BDC Corp. (TPVG) has a price-to-earnings (P/E) ratio of 8.2x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

TriplePoint Venture Growth BDC Corp. (TPVG) grew revenue by 1092.4% over the past year. This is strong growth.

Yes, TriplePoint Venture Growth BDC Corp. (TPVG) is profitable, generating $33.9M in net income for fiscal year 2024 (45.0% net margin).

Dividend & Returns

Yes, TriplePoint Venture Growth BDC Corp. (TPVG) pays a dividend with a yield of 19.82%. This makes it attractive for income-focused investors.

TriplePoint Venture Growth BDC Corp. (TPVG) has a return on equity (ROE) of 9.3%. This is below average, suggesting room for improvement.

Industry Metrics

TriplePoint Venture Growth BDC Corp. (TPVG) has a net interest margin (NIM) of 10.6%. This indicates healthy earnings from lending activities.

TriplePoint Venture Growth BDC Corp. (TPVG) has an efficiency ratio of 18.9%. This is excellent, indicating strong cost control.

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