Hercules Capital, Inc. (HTGC)
Full history for every metric is available with a Kvantra account
No price history available.
Key financial summary
Financials in USD| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM | 2026E | ||
|---|---|---|---|---|---|---|---|---|---|
| Total revenue | $m | 357 | 310 | 239 | 494 | 431 | 547 | 580 | 582 |
| Operating profit | $m | 365 | 437 | ||||||
| Net profit | $m | 227 | 174 | 102 | 337 | 263 | 340 | 383 | 376 |
| EPS reported | $ | 1.85 | 1.99 | ||||||
| Operating cashflow per share | $ | -2.36 | 0.49 | ||||||
| Capex per share | $ | 0.00 | 0.00 | ||||||
| FCF per share | $ | -2.36 | 0.49 | ||||||
| Free cash flow | $m | -426 | 8 | ||||||
| Net debt | $m | 2,246 | 2,287 | ||||||
| Book value equity | $m | 2,216 | 2,274 | ||||||
| Book value per share | $ | 11.38 | 11.40 | ||||||
| Number of shares | m | 194.79 | 199.58 | ||||||
| DPS (TTM paid) | $ | 2.09 | 1.95 |
Financial summary
Financials in USD| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM | 2026E | ||
|---|---|---|---|---|---|---|---|---|---|
| Value | |||||||||
| P/E TTM | x | 10.17 | 8.53 | ||||||
| P/B LTM | x | 1.54 | 1.50 | ||||||
| P/S LTM | x | 6.22 | 5.87 | ||||||
| P/FCF LTM | x | -7.99 | 403.82 | ||||||
| EV/EBITDA LTM | x | 15.46 | 12.92 | ||||||
| EV/Sales LTM | x | 10.32 | 9.36 | ||||||
| Earnings Yield LTM | % | +9.83% | +11.72% | ||||||
| FCF Yield | % | -12.52% | +0.25% | ||||||
| Quality | |||||||||
| ROE | % | +15.33% | +17.21% | ||||||
| ROIC | % | +8.35% | +9.32% | ||||||
| Operating margin | % | +66.75% | +75.33% | ||||||
| Gross margin | % | +87.23% | +89.90% | ||||||
| FCF/Sales | % | -77.85% | +15.70% | ||||||
| Growth and momentum | |||||||||
| EPS Growth YoY | % | +14.91% | +23.60% | ||||||
| Sales Growth YoY | % | +26.97% | +34.56% | ||||||
| Net Income Growth YoY | % | +29.19% | +45.72% | ||||||
| FCF Growth | % | - | - | ||||||
| Operating Profit Growth | % | +38.86% | +66.09% | ||||||
| Dividend and capital structure | |||||||||
| Dividend Yield | % | +9.58% | +11.68% | ||||||
| Dividend Growth | % | +4.50% | -2.50% | ||||||
| Payout Ratio | % | +90.46% | +86.22% | ||||||
| FCF/Debt | x | -0.18 | 0.00 | ||||||
| Net Debt/EBITDA | x | 6.15 | 5.27 | ||||||
| EBIT/Net interest | x | 3.96 | 4.13 | ||||||
| Net debt/market cap | % | +67.68% | +74.75% | ||||||
| Net debt/Equity | x | 1.01 | 1.01 | ||||||
| Gross debt/equity | x | 1.04 | 1.03 | ||||||
Price target estimates
Based on consensus from external analysts. Not Kvantra's opinion.
Ratings
Based on consensus from external analysts. Not Kvantra's opinion.
ESG
| Metric | 2024 | 2025 | 2026 |
|---|---|---|---|
| ESG-score | |||
| Environmental score | |||
| Social score | |||
| Governance score | |||
| Risk rating |
Company overview
Hercules Capital, Inc. is a business development company. The firm specializing in providing private equity, venture debt, and growth capital to privately held venture capital-backed companies at all stages of development from mid venture to expansion stage including select publicly listed companies and select special opportunity companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies. The firm provides growth capital financing solutions for capital extension; management buy-out and corporate spin-out financing solutions; company, asset specific, or intellectual property acquisition financing; convertible, subordinated and/or mezzanine loans; domestic and international corporate expansion; vendor financing; revenue acceleration by sales and marketing development, and manufacturing expansion. It provides asset-based financing with a focus on cash flow; accounts receivable facilities; equipment loans or leases; equipment acquisition; facilities build-out and/or expansion; working capital revolving lines of credit; inventory. The firm also provides bridge financing to IPO or mergers and acquisitions or technology acquisition; dividend recapitalizations and other sources of investor liquidity; cash flow financing to protect against share price volatility; competitor acquisition; pre-IPO financing for extra cash on the balance sheet; public company financing to continue asset growth and production capacity; short-term bridge financing; and strategic and intellectual property acquisition financings. It also focuses on customized financing solutions, emerging growth, mid venture, and late venture financing. The firm invests primarily in structured debt with warrants and, to a lesser extent, in senior debt and equity investments. The firm generally seeks to invest in companies that have been operating for at least six to 12 months prior to the date of their investment. It prefers to invest in technology, SaaS Finance, energy technology, sustainable and renewable technology, and life sciences. Within technology the firm focuses on advanced specialty materials and chemicals; communication and networking, consumer and business products; consumer products and services, digital media and consumer internet; electronics and computer hardware; enterprise software and services; gaming; healthcare services; information services; business services; media, content and information; mobile; resource management; security software; semiconductors; semiconductors and hardware; and software sector. Within energy technology, it invests in agriculture; clean technology; energy and renewable technology, fuels, and power technology; geothermal; smart grid and energy efficiency and monitoring technologies; solar; and wind. Within life sciences, the firm invests in biopharmaceuticals; biotechnology tools; diagnostics; drug discovery, drug platform, development, and delivery; medical devices and equipment; surgical devices; therapeutics; pharma services; and specialty pharmaceuticals. Within sustainable and renewables, it invests in Vehicle Technology, Energy Generation and Storage, Ag Technology, Advanced Materials, and Industry 4.0. It also invests in educational services. The firm invests primarily in United States based companies and considers investment in the West Coast, Mid-Atlantic regions, Southeast and Midwest, particularly in the areas of software, biotech, and information services. The firm prefers to invest between $5 million and $500 million in equity per transactions. It invests in debt between $1 million and $40 million in companies focused primarily on business services, communications, electronics, hardware, and healthcare services. The firm invests primarily in private companies but also have investments in public companies. For equity investments, the firm seeks to represent a controlling interest in its portfolio companies which may exceed 25% of the voting securities of such companies. The firm seeks to invest a limited portion of its assets in equipment-based loans to early-stage prospective portfolio companies. These loans are generally for amounts up to $3 million but may be up to $15 million for certain energy technology venture investments. The firm allows certain debt investments have the right to convert a portion of the debt investment into equity. It also co-invests with other private equity firms. The firm seeks to exit its investments through initial public offering, a private sale of equity interest to a third party, a merger or an acquisition of the company or a purchase of the equity position by the company or one of its stockholders. The firm has structured debt with warrants which typically have maturities of between two and seven years with an average of three years; senior debt with an investment horizon of less than three years; equipment loans with an investment horizon ranging from three to four years; and equity related securities with an investment horizon ranging from three to seven years. The firm prefers to invest through its balance sheet capital. The firm formerly known as Hercules Technology Growth Capital, Inc. Hercules Capital, Inc. was founded in December 2003 and is based in San Mateo, California with additional offices in North America and Europe.
Similar companies
For informational purposes only. Kvantra provides data and quantitative analysis, not investment advice. KvantraRank is a mechanical model output. Analyst price targets and ratings are sourced from third parties and are not Kvantra recommendations. Past performance does not guarantee future results; all investments carry risk.
Hercules Capital, Inc. (HTGC)
No price history available.
Consensus from external analysts. Not Kvantra's opinion.
Based on consensus from external analysts. Not Kvantra's opinion.
Hercules Capital, Inc. is a business development company. The firm specializing in providing private equity, venture debt, and growth capital to privately held venture capital-backed companies at all stages of development from mid venture to expansion stage including select publicly listed companies and select special opportunity companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies. The firm provides growth capital financing solutions for capital extension; management buy-out and corporate spin-out financing solutions; company, asset specific, or intellectual property acquisition financing; convertible, subordinated and/or mezzanine loans; domestic and international corporate expansion; vendor financing; revenue acceleration by sales and marketing development, and manufacturing expansion. It provides asset-based financing with a focus on cash flow; accounts receivable facilities; equipment loans or leases; equipment acquisition; facilities build-out and/or expansion; working capital revolving lines of credit; inventory. The firm also provides bridge financing to IPO or mergers and acquisitions or technology acquisition; dividend recapitalizations and other sources of investor liquidity; cash flow financing to protect against share price volatility; competitor acquisition; pre-IPO financing for extra cash on the balance sheet; public company financing to continue asset growth and production capacity; short-term bridge financing; and strategic and intellectual property acquisition financings. It also focuses on customized financing solutions, emerging growth, mid venture, and late venture financing. The firm invests primarily in structured debt with warrants and, to a lesser extent, in senior debt and equity investments. The firm generally seeks to invest in companies that have been operating for at least six to 12 months prior to the date of their investment. It prefers to invest in technology, SaaS Finance, energy technology, sustainable and renewable technology, and life sciences. Within technology the firm focuses on advanced specialty materials and chemicals; communication and networking, consumer and business products; consumer products and services, digital media and consumer internet; electronics and computer hardware; enterprise software and services; gaming; healthcare services; information services; business services; media, content and information; mobile; resource management; security software; semiconductors; semiconductors and hardware; and software sector. Within energy technology, it invests in agriculture; clean technology; energy and renewable technology, fuels, and power technology; geothermal; smart grid and energy efficiency and monitoring technologies; solar; and wind. Within life sciences, the firm invests in biopharmaceuticals; biotechnology tools; diagnostics; drug discovery, drug platform, development, and delivery; medical devices and equipment; surgical devices; therapeutics; pharma services; and specialty pharmaceuticals. Within sustainable and renewables, it invests in Vehicle Technology, Energy Generation and Storage, Ag Technology, Advanced Materials, and Industry 4.0. It also invests in educational services. The firm invests primarily in United States based companies and considers investment in the West Coast, Mid-Atlantic regions, Southeast and Midwest, particularly in the areas of software, biotech, and information services. The firm prefers to invest between $5 million and $500 million in equity per transactions. It invests in debt between $1 million and $40 million in companies focused primarily on business services, communications, electronics, hardware, and healthcare services. The firm invests primarily in private companies but also have investments in public companies. For equity investments, the firm seeks to represent a controlling interest in its portfolio companies which may exceed 25% of the voting securities of such companies. The firm seeks to invest a limited portion of its assets in equipment-based loans to early-stage prospective portfolio companies. These loans are generally for amounts up to $3 million but may be up to $15 million for certain energy technology venture investments. The firm allows certain debt investments have the right to convert a portion of the debt investment into equity. It also co-invests with other private equity firms. The firm seeks to exit its investments through initial public offering, a private sale of equity interest to a third party, a merger or an acquisition of the company or a purchase of the equity position by the company or one of its stockholders. The firm has structured debt with warrants which typically have maturities of between two and seven years with an average of three years; senior debt with an investment horizon of less than three years; equipment loans with an investment horizon ranging from three to four years; and equity related securities with an investment horizon ranging from three to seven years. The firm prefers to invest through its balance sheet capital. The firm formerly known as Hercules Technology Growth Capital, Inc. Hercules Capital, Inc. was founded in December 2003 and is based in San Mateo, California with additional offices in North America and Europe.
Unlock all fundamental data
Sign up for FreeUnlock all fundamental data
Sign up for Free