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TriplePoint Venture Growth BDC Corp.

TPVG Financial Asset Management

TriplePoint Venture Growth BDC Corp.’s revenue for fiscal 2025 (year ended December 2025) was $90.9 million, down 16.3% from fiscal 2024.

Revenue
−11.0%
EPS
−25.0%
Free cash flow
+184.9%
Total debt
+57.9%

Quarter to September 2026, against a year earlier

4.51 0.05 +1.12%
Market cap
$181.6M
P/E
4.7×
Fwd P/E
5.2×
Dividend yield
20.8%
F-score
3/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 6.49%

Capital & Financial Ratios $m

Size
Market Cap 181.56
Revenue ttm 87.63
Net income ttm 23.22
Free cash flow ttm 100.41
Net debt Q 132.00
Valuation
P/E 4.71
Forward P/E 5.21
Price / sales 2.06
Forward P/S Powerpack
Price / FCF 1.80
Price / book 0.53
Financial health
Current ratio Q 0.08
Debt / equity Q 0.44
Interest coverage Q 0.00
Growth
Revenue growth Q −10.96% (below 0%: shrinking)
Operating income growth Q −26.56% (below 0%: shrinking)
EPS, this year −22.86% (below 0%: weak)
EPS, next year A +1.23%
Revenue, next year A −1.51% (below 0%: weak)
EPS, past 5 yrs +1.01%
EPS, next 5 yrs A −8.67% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 1.93%
10-year low 10-year high
P/S against its own 10 years 1.25%
10-year low 10-year high
P/B against its own 10 years 1.72%
10-year low 10-year high

Dividends

Yield
20.8%
Annual rate
0.92
Payout ratio
97.9%
Growth, 2017–25
−3.76%/yr
  1. 1.44 ’17
  2. 1.44 ’18 +0
  3. 1.44 ’19 +0
  4. 1.44 ’20 +0
  5. 1.44 ’21 +0
  6. 1.45 ’22 +1
  7. 1.60 ’23 +10
  8. 1.40 ’24 −13
  9. 1.06 ’25 −24
  10. 0.98 ’26e −8
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 172 79 47 18
Receivables — — — —
Inventory — — — —
Other — — — —
177 87 56 32
2023 2024 2025 Q'26
Payables 4 3 4 4
ST’ Debt 215 5 95 150
Other — — — —
633 417 486 410

Compound Annual Growth %

10y 5y 3y
Sales 8.01% (0.06%) (8.69%)
Cash Flow 0.00% 0.00% 0.00%
Earnings 12.23% 6.86% 0.00%
Book Value 4.32% (2.46%) (5.57%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.22 Actual 0.16

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.26 0.25 Miss by 0.01
Q1 FY26 0.25 0.23 Miss by 0.02
Q2 FY26 0.24 0.21 Miss by 0.03
Q3 FY26 0.22 0.16 Miss by 0.06
Q4 FY26 0.23 — Reports 3 March 2027

EPS $

Mar Jun Sep Dec Year
’26 0.15 0.21 — — —
’25 0.27 0.28 0.38 0.20 1.22
’24 0.21 0.22 0.57 (0.18) 0.82
’23 0.22 (0.59) 0.06 (0.79) (1.12)
’22 0.18 (0.46) 0.01 (0.33) (0.61)
’21 0.38 0.39 1.26 0.45 2.47
’20 (0.17) 0.69 0.47 0.15 1.16
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 23 22 20 — —
’25 22 23 23 23 91
’24 29 27 27 26 109
’23 34 35 36 33 137
’22 27 27 30 35 119
’21 20 20 21 26 87
’20 21 24 23 23 91
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (6) 17 59 — —
’25 (5) (13) (70) 31 (57)
’24 18 76 12 47 153
’23 (33) 25 71 43 106
’22 54 (77) (84) 6 (101)
’21 5 3 (85) (68) (145)
’20 (72) 47 59 29 64
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (6) 17 59 — —
’25 (5) (13) (70) 31 (57)
’24 18 76 12 47 153
’23 (33) 25 71 43 106
’22 54 (77) (84) 6 (101)
’21 5 3 (85) (68) (145)
’20 (72) 47 59 29 64
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 44 52 65 73 91 87 119 137 109 91 88 +8.5% 90 91 90 (0.2%)
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.0 pt
EBT 23 26 35 38 48 41 64 74 55 42 38 +7.0%
EBT margin, % 52.74 50.99 54.12 52.13 52.48 47.03 53.22 53.68 50.21 46.48 0.00 (6.3) pt
Net income 11 19 37 32 35 77 (20) (40) 32 49 23 +18.0%
Per share, $
Per share, $ Revenue 2.70 3.16 3.16 2.95 2.98 2.82 3.65 3.85 2.78 2.26 2.15 (2.0%)
Earnings 0.69 1.18 1.78 1.28 1.16 2.47 (0.61) (1.12) 0.82 1.22 0.94 +6.5%
Cash flow (5.69) 1.54 (0.87) (7.55) 2.08 (4.68) (3.09) 2.97 3.91 (1.42) 2.47 (14.3%)
Capex 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 n/m
Free cash flow (5.69) 1.54 (0.87) (7.55) 2.08 (4.68) (3.09) 2.97 3.91 (1.42) 2.47 (14.3%)
Book value 13.36 14.39 16.33 13.38 13.10 14.04 12.85 9.70 8.84 8.78 8.35 (4.6%)
Shares, m 16 16 20 25 31 31 33 36 39 40 41 +10.7%
Valuation, ×
Valuation, × P/E 17.37 10.77 6.05 11.02 11.44 7.24 0.00 0.00 9.00 5.79 4.71 7.9
P/S 4.50 4.06 3.45 4.81 4.37 6.36 2.97 2.87 2.66 2.90 2.06 3.9
P/B 0.91 0.89 0.67 1.06 1.00 1.28 0.84 1.14 0.83 0.74 0.53 0.9
EV/Sales 6.78 5.17 3.65 8.03 5.18 7.97 3.94 3.19 1.98 3.42 — 4.9
EV/FCF (3.22) 10.61 (13.25) (3.14) 7.41 (4.81) (4.66) 4.13 1.40 (5.45) — (1.1)
Cash, $m
Cash, $m Operating cash flow (92) 25 (18) (188) 64 (145) (101) 106 153 (57) 100 (5.2%)
Capex — — — — — — — — — — — —
Free cash flow (92) 25 (18) (188) 64 (145) (101) 106 153 (57) 100 (5.2%)
Balance, $m
Balance, $m Working capital (158) (137) (99) (321) (230) (431) (529) (456) (331) (430) (377) +11.7%
Net debt 100 57 13 236 73 141 116 43 (74) 48 132 (7.9%)
Shareholders’ equity 216 235 335 333 400 434 420 346 346 354 340 +5.6%
Returns, %
Returns, % ROA 2.73 4.07 7.48 5.52 5.16 9.50 (2.07) (4.00) 3.68 6.14 2.93 +3.4 pt
ROIC 4.56 5.62 6.29 4.21 6.31 4.47 7.42 11.84 12.54 6.58 0.00 +2.0 pt
ROE 4.97 8.53 12.84 9.52 9.63 18.34 (4.70) (10.39) 9.26 14.07 6.68 +9.1 pt
People
People Employees — — — — — — — — — — — —
Revenue/emp, $m 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 4 Nov 2026

TriplePoint Venture Growth BDC Corp. vs peers in Asset Management (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
PNNT PennantPark Investment Corporation $212.9M 20.9× 9.6× −16.21% (below 0%: shrinking) −41.67% (below 0%: shrinking) −2.70% (below 0%: shrinking) 78.27% 72.21% Compare
LIEN Chicago Atlantic BDC, Inc. $207.4M 6.5× 6.5× +6.81% (above 0%: growing) −28.95% (below 0%: shrinking) +1,591.22% (above 0%: growing) 100.00% 61.95% Compare
SCM Stellus Capital Investment Corporation $205.6M 7.1× 6.1× −13.21% (below 0%: shrinking) +55.56% (above 0%: growing) +41.00% (above 0%: growing) 100.00% 72.26% Compare
SAR Saratoga Investment Corp $200.7M — (loss-making) 108× +1.77% (above 0%: growing) n/m −43.85% (below 0%: shrinking) 100.00% 68.55% Compare
TPVG TriplePoint Venture Growth BDC Corp. $181.6M 4.7× 5.2× −10.96% (below 0%: shrinking) −25.00% (below 0%: shrinking) +184.88% (above 0%: growing) 100.00% 0.00%
WHF WhiteHorse Finance, Inc. $177.0M 10.4× 8.3× −23.72% (below 0%: shrinking) +380.00% (above 0%: growing) −159.82% (below 0%: shrinking) 100.00% 66.34% Compare
WHG Westwood Holdings Group Inc $175.5M 22.0× — (loss-making) +9.40% (above 0%: growing) −18.18% (below 0%: shrinking) −29.81% (below 0%: shrinking) 100.00% 5.20% Compare
NSLR Neostellar Capital Corp. $148.3M 1.5× 1.3× +79.14% (above 0%: growing) n/m +8,274.08% (above 0%: growing) 100.00% 0.00% Compare
AMBR Amber International Holding Limited - Sponsored ADR $143.5M 291× — (loss-making) −26.53% (below 0%: shrinking) +57.00% (above 0%: growing) +274.25% (above 0%: growing) 79.48% 7.43% Compare
Median of peers $188.8M 10.4× 7.4× −5.72% +18.69% +19.15% 100.00% 64.15%

All 121 Asset Management stocks →

TriplePoint Venture Growth BDC Corp. (TPVG) Latest News

5 Nov

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Impact 3 · · The Motley Fool transcript
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4 Nov

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9 Aug

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6 Aug

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7 May

Impact 3 · · Moby transcript

6 May

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6 Apr

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5 Mar

Impact 4 · · GuruFocus.com

4 Mar

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1 Dec

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6 Nov

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29 Oct

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14 Oct

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13 Oct

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30 May

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stockrow.com/TPVG · Data as of Nov 4, 2026 · For information only; not investment advice. · © 2026 stockrow.com