Strive, Inc. (ASST) vs Hercules Capital, Inc. (HTGC)

Strive, Inc. and Hercules Capital, Inc. are both Asset Management companies. Strive, Inc. and Hercules Capital, Inc. are of similar size ($3.1B and $3.0B). Strive, Inc. has negative trailing earnings, so its P/E is not meaningful; Hercules Capital, Inc. trades at 8.1×. Strive, Inc. grew revenue faster over the last twelve months: 33.5% against 12.3%. Hercules Capital, Inc. has the higher net margin (67.7% vs −11,474.6%) and the higher return on invested capital (4.64% vs −111.5%). Across the 19 metrics below, Hercules Capital, Inc. leads on 14 and Strive, Inc. on 5.

Valuation

Metric ASST HTGC Asset Management median
P/E n/m 8.12 14.62
P/S 260.34 5.56 2.97
P/B 3.43 1.38 0.94
Price to free cash flow n/m 373.68 8.93
EV/EBITDA 47.58 11.96 10.32
EV/Sales 239.32 9.60 5.72
Earnings yield (42.02%) 12.32% 4.53%
Free cash flow yield (66.34%) 0.27% 4.65%

Profitability

Metric ASST HTGC Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin (9,606.28%) 78.48% 33.03%
Net margin (11,474.60%) 67.68% 13.53%
Free cash flow margin (17,270.45%) 1.49% 12.44%
Return on equity (300.68%) 17.32% 4.83%
Return on assets (141.33%) 8.54% 1.57%
Return on invested capital (111.48%) 4.64% 3.04%

Growth

Metric ASST HTGC Asset Management median
Revenue growth (TTM) 33.53% 12.34% 6.97%
EPS growth (last fiscal year) 1.95% 14.91% —
Revenue growth, 5-year CAGR 131.15% 13.14% 12.13%
Net income growth, 5-year CAGR 0.00% 8.37% 0.00%

Health

Metric ASST HTGC Asset Management median
Debt to equity 0.00 1.03 0.42
Current ratio 7.62 1.37 1.28
Net debt to EBITDA (0.82) 5.21 1.06

Dividend

Metric ASST HTGC Asset Management median
Dividend yield — 9.25% 6.92%
Payout ratio — 0.70 0.77

Size

Metric ASST HTGC Asset Management median
Market cap 2.96b 3.14b 721.34m

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