Hercules Capital, Inc.(HTGC) Stock Research - Grey Stern Research

Hercules Capital, Inc. (HTGC) Stock Analysis

$19.36 (1.52%)

HTGC Financial Performance

Use the table below to view Hercules Capital, Inc.'s financial profile. This data is gathers from the latest available financial statements. Annual data is taken from the trailing 12 months of statements. All numbers are reported in US Dollars and so any foreign currencies are converted to USD so comparison's can be done.

Based on Financial Statements from Q4 - 2023

Metric Value Ranking among Peers
Price $19.07 -
52 Week Low $13.16 -
52 Week High $20.01 -
Market Cap $3.1 Billion 4/14
Gross Margin 73% 11/14
Profit Margin 86% 6/14
EBITDA margin -204% 14/14
Q4 - 2023 Revenue $139.4 Million 4/14
Q4 - 2023 Earnings $120.2 Million 4/14
Q4 - 2023 Free Cash Flow $130.4 Million 4/14
Trailing 4 Quarters Revenue $417.4 Million 7/14
Trailing 4 Quarters Earnings $242.7 Million 6/14
Quarterly Earnings Growth 92% 6/14
Annual Earnings Growth 14% 10/14
Quarterly Revenue Growth 65% 8/14
Annual Revenue Growth 27% 7/14
Cash On Hand $98.9 Million 8/14
Short Term Debt $5.2 Million 7/14
Long Term Debt $1.6 Billion 6/14

Hercules Capital, Inc. Financial Metrics

Financial metrics are a set of useful numbers that can give key performance indicators of a company. The various metrics can include information about profitability, growth, and debt load. When combined and use properly they can tell an analyst a compelling fact-based story of how the company is currently performing. To compare Hercules Capital, Inc.'s metrics versus it's peers make sure to run our peer analysis tool.

Valuation Metrics

Metric Value Ranking among Peers
PE 12.74 4/14
PS 7.41 3/14
PB 1.72 1/14
PC 31.27 4/14
Liabilities to Equity 0.90 11/14
ROA 0.07 2/14
ROE 0.13 4/14
Current Ratio 2.12 1/14
Quick Ratio 0.06 5/14
Long Term Debt to Equity 0.87 11/14
Debt to Equity 0.87 11/14
Burn Rate -1.75 14/14
Cash to Cap 0.03 10/14
CCR 1.08 4/14
EV to EBITDA -16.02 11/14
EV to Revenue 10.91 10/14

Company Details

Hercules Capital, Inc. is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups, to expansion stage including select publicly listed companies and select special opportunity lower middle market 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, 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, development and delivery; medical devices and equipment; surgical devices; therapeutics; pharma services; and specialty pharmaceuticals. 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 $10 million to $250 million in equity per transactions. It invests generally between $1 million to $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.

CEO: Mr. Scott Bluestein

Website: https://www.htgc.com

Address: 400 Hamilton Ave Ste 310 Palo Alto, CALIFORNIA

Exchange: New York Stock Exchange

Industry: Asset Management

Hercules Capital, Inc. Peer Analysis

A useful and more reliable way of seeing the health of a company is to compare it to other companies operating in the same sector. Below is our list of companies which we rank are the closest peers to Hercules Capital, Inc.. If you feel that peers should be added or removed from this list please contact us. To run an in-depth peer analysis which compares many financial metrics click on the link below.

Stock Ticker Market Cap
Ares Capital Corporation ARCC $12.9 Billion
New Mountain Finance Corporation NMFC $1.3 Billion
Prospect Capital Corporation PSEC $2.4 Billion
BlackRock TCP Capital Corp. TCPC $922.7 Million
Carlyle Secured Lending, Inc. CGBD $895.5 Million
Golub Capital BDC, Inc. GBDC $2.8 Billion
Main Street Capital Corporation MAIN $4.2 Billion
Sixth Street Specialty Lending, Inc. TSLX $2.0 Billion
PennantPark Floating Rate Capital Ltd. PFLT $752.7 Million
Gladstone Investment Corporation GAIN $518.0 Million
TriplePoint Venture Growth BDC Corp. TPVG $355.8 Million
FS KKR Capital Corp. FSK $5.6 Billion
Trinity Capital Inc. TRIN $738.7 Million
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Income Statement
Balance Sheet
Cash Flow Statement
HTGC Income Statements
Quarter Year Revenue Earnings
Q4 2023 $ 139.4 Million $120.2 Million
Q3 2023 $ 51.5 Million $28.0 Million
Q2 2023 $ 109.0 Million $0
Q1 2023 $ 117.5 Million $94.6 Million
Q4 2022 $ 84.7 Million $62.5 Million
Q3 2022 $ 81.4 Million $50.0 Million
Q2 2022 $ 68.7 Million $40.1 Million
Q1 2022 $ 18.1 Million -$3.3 Million

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HTGC Balance Sheets
Quarter Year Cash & Equivalents Total Assets Total Debt Total Equity
Q4 2023 $98.9 Million $3.4 Billion $1.6 Billion $1.8 Billion
Q3 2023 $32.0 Million $3.3 Billion $1.6 Billion $1.7 Billion
Q2 2023 $61.7 Million $3.2 Billion $3.9 Million $1.6 Billion
Q1 2023 $71.1 Million $3.3 Billion $1.7 Billion $1.5 Billion
Q4 2022 $15.8 Million $3.0 Billion $1.6 Billion $1.4 Billion
Q3 2022 $57.1 Million $2.9 Billion $6.1 Million $1.4 Billion
Q2 2022 $115.3 Million $2.9 Billion $6.7 Million $1.3 Billion
Q1 2022 $59.3 Million $2.7 Billion $1.3 Billion $1.3 Billion

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HTGC Cash Flow Statements
Quarter Year freeCashFlow capitalExpenditure netChangeInCash
Q4 2023 $130.4 Million -$497,000 $78.8 Million
Q3 2023 -$115.4 Million -$11,000 -$36.8 Million
Q2 2023 $133.4 Million -$285,000 -$4.9 Million
Q1 2023 -$81.0 Million -$94,000 $53.1 Million
Q4 2022 -$64.9 Million -$28,000 -$39.5 Million
Q3 2022 -$53.1 Million $0 -$53.3 Million
Q2 2022 -$118.0 Million $0 $56.2 Million
Q1 2022 -$188.7 Million -$50,000 -$73.8 Million

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