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Friday 6 November 2026 Export HTGC’s income statement to Excel — free account

Hercules Capital, Inc.

HTGC Financial Asset Management

Hercules Capital, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $532.5 million, up 7.88% from fiscal 2024.

Revenue
+1.46%
EPS
−24.2%
Free cash flow
−5,073.1%
Total debt
+18.6%

Quarter to September 2026, against a year earlier

16.38 0.25 −1.50%
Market cap
$3.1B
P/E
8.5×
Fwd P/E
8.7×
Dividend yield
4.88%
F-score
2/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Hercules Capital, Inc. (HTGC) P/B ratio

Alert me on P/B ratio

As of 5 November 2026, Hercules Capital, Inc. (HTGC) trades at a P/B ratio of 1.3×. Over the past ten years it has ranged from 0.6× (March 2020) to 1.9× (July 2024); the current reading is higher than 47% of that period. That is above the Asset Management industry median of 0.9× and in line with the Financial sector median of 1.3×.

P/B ratio, daily

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Annual newest first

Period P/B ratio Change
FY2025 1.5× (7.38%)
FY2024 1.6× 21.63%
FY2023 1.3× 12.55%
FY2022 1.2× (18.33%)
FY2021 1.5× 16.37%
FY2020 1.3× (0.10%)
FY2019 1.3× 19.00%
FY2018 1.1× (19.11%)
FY2017 1.3× (3.41%)
FY2016 1.3× 13.97%

Quarterly newest first

Period P/B ratio Change
Sep 2026 1.3× 4.55%
Jun 2026 1.3× 6.13%
Mar 2026 1.2× (19.54%)
Dec 2025 1.5× (3.27%)
43 more quarters

Against its own ten years

Low 0.6× High 1.9×
Ten-year median 1.3×
Current reading's percentile 44

P/B ratio against peers

Company P/B ratio
FSK FS KKR Capital Corp. compare 0.7×
GBDC Golub Capital BDC, Inc. compare 0.9×
HTGC Hercules Capital, Inc. 1.3×
ASST Strive, Inc. compare 2.4×
AB AllianceBernstein Holding L.P. compare 2.7×
APAM Artisan Partners Asset Management Inc. compare 5.4×
WT WisdomTree, Inc. compare 6.3×
SII Sprott Inc. compare 7.4×
AAMI Acadian Asset Management Inc. compare 16.2×
Asset Management industry median 0.9×
Financial sector median 1.3×
Market median 1.7×

What P/B ratio is

Price to Book Value tells an investor how much the market pays for a company’s shares relative to the accounting net worth that belongs to common shareholders.

Stock Price ÷ (Common Equity (Total) (latest quarter) ÷ Shares (Basic, Weighted) (latest quarter))

The full definition of P/B ratio →

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