Hercules Capital, Inc.

Hercules Capital, Inc.

HTGC
Hercules Capital, Inc.US flagNew York Stock Exchange
17.63
USD
-0.09
- -
3.30BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
2.31
1.86
1.38
1.51
1.64
1.5
2.41
2.66
2.22
1.47
2.96
2.2
2.47
2.67
Basic EPS, GAAP
1.69
1.15
0.62
0.93
0.96
0.84
1.72
2.03
1.52
0.82
2.34
1.63
1.92
2.1
Free Cash Flow per Basic Share
1.76
-0.43
-1.65
-1.88
-0.23
-2.74
-2.39
1.85
1.12
-3.39
0.47
-0.74
-2.4
0.05
Dividend per Share
1.09
1.25
1.22
1.23
1.22
1.24
1.31
1.36
1.53
1.96
1.9
1.88
1.84
1.85
Book Value per Share
10.51
10.18
9.94
9.9
9.96
9.9
10.55
11.26
11.22
10.53
11.43
11.66
12.13
12.15
Tangible Book Value per Share
10.51
10.18
9.94
9.9
9.96
9.9
10.55
11.26
11.22
10.53
11.43
11.66
12.13
12.15
Basic Weighted Avg Shares
59
62
69
74
83
91
101
112
115
125
144
161
177
182
Sales/Revenue/Turnover
136
115
96
111
136
136
244
298
255
185
426
354
439
487
Operating Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Depreciation Expense
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Net Income, GAAP
99
71
43
69
79
76
174
227
174
102
337
263
340
383
Effective Tax Rate (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Profit Margin (%)
73.25
61.87
44.84
61.68
58.27
56.21
71.26
76.32
68.26
55.29
79.13
74.34
77.47
78.66
Working Capital
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
LT Debt
557
626
590
655
787
964
1,299
1,296
1,244
1,580
1,560
1,787
2,303
2,350
Total Equity
650
659
717
788
841
955
1,133
1,292
1,309
1,401
1,803
1,990
2,216
2,274
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)
17.06
10.88
6.24
9.13
9.7
8.52
16.62
18.75
13.4
7.53
21.07
13.87
16.16
17.32

Capital Structure

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
183
187
187
Market Capitalization
3,438
2,765
2,952

Working Capital

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
57
42
48
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
12.16%
11.76%
11.38%
Free Cash Flow
37.86%
-120.47%
258.51%
Net Income, GAAP
40.27%
34.59%
29.19%
Sales/Revenue/Turnover
23.57%
19.19%
23.96%
Total Cash Common Dividend
14.7%
16.95%
7.42%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
116
65
90
82
354
2025
73
105
145
116
439
2026
68
158
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.58
0.26
0.43
0.37
1.63
2025
0.29
0.45
0.66
0.5
1.92
2026
0.23
0.7
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.47
0.47
0.47
0.47
1.88
2025
0.46
0.46
0.46
0.46
1.84
2026
0.46
0.46
- -
- -
- -

Company Description

CEO
Scott Bluestein
Full Time Employees
100
Sector
Financial Services
Industry
Asset Management
Address
1 North B Street San Mateo CA United States of America 94401
IPO Date
Jun 9, 2005
Website
htgc.com
Business
Hercules Capital, Inc. (NYSE: HTGC) is a business development company (BDC) that provides venture lending and growth capital to innovative, high-growth companies, primarily in technology, life sciences, and sustainable/renewable technology-enabled sectors. The company offers a diversified portfolio of customized financing solutions, including senior secured loans; unitranche loans; mezzanine debt; equity investments; and warrant and equity-related securities, often structured as first- and second-lien loans with warrants for upside participation. Hercules targets late-stage venture-backed companies and underserved middle-market firms, operating principally in the United States with a focus on U.S.-based portfolio companies across software, internet, healthcare, and clean tech industries. Founded in 2003 and headquartered in Palo Alto, California, Hercules Capital manages approximately $4 billion in assets under management as of late 2025, serving as a leading non-bank lender to the venture ecosystem. The company structures its investments to provide flexible capital for growth initiatives such as mergers and acquisitions, product development, and international expansion, while maintaining rigorous due diligence and active portfolio management. It operates through subsidiaries like Hercules Capital Funding I, LLC, and has no parent company, functioning as an independent publicly traded BDC regulated under the Investment Company Act of 1940. In recent developments, Hercules Capital completed several strategic portfolio expansions in 2024 and 2025, including new debt and equity investments in high-profile tech firms such as those in AI infrastructure and biotech, bolstering its portfolio diversification amid rising interest rates. The company announced a key partnership with leading venture capital firms in Q3 2025 to co-invest in Series D and later-stage companies, enhancing deal flow and risk mitigation. Additionally, Hercules raised capital through an at-the-market equity offering program in early 2025, funding over $300 million in new originations and supporting dividend sustainability with a payout ratio under 90%.

Company News

  • BlackRock Inc. Purchases New Position in Hercules Capital, Inc. $HTGC

  • How to Build $9,400 a Month in Dividend Income Without Selling a Single Share

  • Hercules Capital, Inc. (NYSE:HTGC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

  • How a 78-Year-Old Collects $5,300 a Month From Just Three Tickers: SCHD, HTGC, and NNN

  • 3 BDCs Yielding Big. A Roth Is the Only Place They Make Sense

  • Bragar Eagel & Squire, P.C. is Investigating Hercules Capital, Inc. on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm

  • Hercules Capital Receives a BBB+ Affirmed Investment Grade Corporate and Credit Rating from Kroll Bond Rating Agency, Inc.

  • Hercules Capital: Portfolio Metrics Warrant An Upgrade To Buy

  • Hercules Capital: 0.1% Non-Accruals, 125% Coverage, Top BDC Value

  • 3 Ultra-High-Yield Stocks Wall Street Forgot to Mention for August

  • Hercules Capital, Inc. $HTGC Shares Acquired by Cetera Investment Advisers

  • Hercules Capital: Net Asset Value And Dividend Coverage Expands

  • Hercules Capital: The Software Panic Was Overblown

  • Hercules Capital: Strong Growth But Valuation Leaves Little Room For Error

  • BDC Weekly Review: Hercules Capital Posts Strong Q2 Results

  • HTGC Q2 Earnings Meet Estimates, Stock Up on Record Investment Income

  • Hercules Capital Q2 Earnings Call Highlights

  • Hercules Capital, Inc. (HTGC) Q2 2026 Earnings Call Transcript

  • Hercules Capital (HTGC) Q2 Earnings Meet Estimates

  • Hercules Capital Reports Second Quarter 2026 Financial Results