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Hercules Capital, Inc.

HTGCFinancial ServicesNASDAQ

Asset Management

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Financials · Annual
Revenue
$438.5M
+24.0% YoY
Net Income
$339.7M
+29.2% YoY
Free Cash Flow
$247.8M

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About Hercules Capital, Inc.

Hercules Capital, Inc. is a business development company. The company carries a $2.89B market cap, placing it firmly in the mid-cap category. 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.

Key stats
Market Cap$2.89B
P/E (TTM)8.63
Fwd P/E7.76
EPS$1.79
Beta0.77
52W Change-12.1%
Dividend Yield12.17%
ROE15.7%
Analysis

Hercules Capital, Inc. carries $2.55B in total debt against $42.4M in cash reserves — debt is roughly 60.3x the cash position. Managing this leverage effectively will be important for long-term financial stability. Annual free cash flow of $247.8M supports ongoing capital allocation decisions and provides a cushion against unexpected expenses or downturns. Return on equity stands at 15.7%, which is strong for the sector. ROE measures how effectively a company uses shareholder capital to generate profits. An ROA of 6.6% suggests reasonable efficiency in deploying the company's asset base. Revenue has grown from $184.6M (2022) to $438.5M (2025), reflecting a 138% increase over the period.

The debt-to-cash ratio suggests meaningful leverage on the balance sheet, a factor worth monitoring if credit conditions tighten. No single metric tells the full story. Reviewing HTGC's risk profile alongside its fundamentals and technical indicators provides a more complete picture.

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