HTGC financial statements
The full income statement, balance sheet, and cash-flow statement for Hercules Capital Inc. (HTGC), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 206M+15.4% | 179M+7.7% | 166M+16.8% | 142M+4.3% | 136M+4.6% | ||
| Selling, general & administrative | 19.0M-3.3% | 19.7M+5.2% | 18.7M+10.3% | 16.9M+5.2% | 16.1M-14.8% | |
| General & administrative | 19.0M-3.3% | 19.7M+5.2% | 18.7M+10.3% | 16.9M+5.2% | 16.1M-14.8% | |
| Interest expense | 92.2M+19.5% | 77.2M+14.1% | 67.6M+23.5% | 54.7M+0.6% | 54.4M-8.7% | |
| Interest & investment income | 508M+8.7% | 467M+7.5% | 434M+41.4% | 307M+21.3% | 253M-3.8% | |
| 340M+29.2% | 263M-22.1% | 337M+230.6% | 102M-41.4% | 174M-23.4% | ||
| Net income to common | 337M+29.6% | 260M-22.1% | 334M+234.5% | 99.9M-42.1% | 172M | |
| $1.85+14.9% | $1.61-30.3% | $2.31+192.4% | $0.79-47.0% | $1.49-25.9% | ||
| EPS (basic) | $1.90+18.0% | $1.61-30.6% | $2.32+190.0% | $0.80-46.7% | $1.50-25.7% | |
| Weighted-avg shares (basic) | 177M+10.1% | 161M+11.8% | 144M+15.1% | 125M+9.1% | 115M+2.5% | |
| Weighted-avg shares (diluted) | 189M+16.9% | 162M+11.6% | 145M+14.3% | 127M+9.2% | 116M+3.3% | |
| Dividends per share | $1.77+1.3% | $1.75+1.4% | $1.73-3.8% | $1.80+19.3% | $1.50+10.8% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash & equivalents | 57.0M+33.5% | 42.7M-56.5% | 98.1M+571.0% | 14.6M-89.0% | 133M-32.9% | |
| 4.58B+19.6% | 3.83B+12.1% | 3.42B+12.8% | 3.03B+16.5% | 2.60B | ||
| Operating lease right-of-use | 14.8M-11.5% | 16.8M+250.5% | 4.79M-4.0% | 4.99M-26.3% | 6.76M | |
| 2.37B+28.6% | 1.84B+14.1% | 1.61B-0.8% | 1.63B+26.0% | 1.29B | ||
| Long-term debt | 2.29B+29.3% | 1.77B+13.8% | 1.55B-1.2% | 1.57B+27.3% | 1.24B | |
| Operating lease liability (total) | 16.3M-10.6% | 18.2M+250.2% | 5.20M-5.6% | 5.51M-25.4% | 7.38M | |
| 2.22B+11.4% | 1.99B+10.4% | 1.80B+28.6% | 1.40B+7.1% | 1.31B+1.3% | ||
| Common stock | 183K+7.0% | 171K+8.2% | 158K+17.9% | 134K+14.5% | 117K | |
| Additional paid-in capital | 2.11B+11.3% | 1.90B+14.3% | 1.66B+23.9% | 1.34B+22.9% | 1.09B-5.7% | |
| Retained earnings | 101M+13.8% | 88.9M-36.5% | 140M+133.7% | 59.9M-72.3% | 217M | |
| Total liabilities & equity | 4.58B+19.6% | 3.83B+12.1% | 3.42B+12.8% | 3.03B+16.5% | 2.60B | |
| Common shares outstanding | 183M+7.1% | 171M+8.1% | 158M+18.6% | 133M+14.1% | 117M | |
| Shares outstanding (cover) | 184M+6.1% | 173M+9.3% | 158M+16.0% | 136M | — | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| -426M-260.6% | -118M-273.0% | 68.3M+116.1% | -425M-430.3% | 129M-38.1% | ||
| Depreciation & amortization | 337K-27.7% | 466K+145.3% | 190K-6.9% | 204K-35.6% | 317K-23.6% | |
| Share-based compensation | 14.8M+18.5% | 12.5M+4.7% | 11.9M+10.1% | 10.8M+4.3% | 10.4M+22.6% | |
| Change in payables | — | — | — | 0.00 | 0.00+100.0% | |
| -89.0K+87.4% | -705K+20.5% | -887K-678.1% | -114K-7.5% | -106K+22.6% | ||
| Capital expenditure | 89.0K-87.4% | 705K-20.5% | 887K+678.1% | 114K+7.5% | 106K-22.6% | |
| Free cash flow | -426M-258.5% | -119M-276.3% | 67.4M+115.9% | -425M-430.6% | 129M-38.1% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| 369M+209.5% | 119M+424.1% | 22.7M-92.8% | 315M+236.8% | -230M-170.3% | ||
| Long-term debt issued | 2.00B+49.9% | 1.33B+102.1% | 659M-48.3% | 1.27B-26.6% | 1.74B+110.7% | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 207M-6.4% | 221M-35.9% | 344M+48.4% | 232M+2043.2% | 10.8M-86.0% | |
| Common stock repurchased | 6.49M+89.2% | 3.43M-73.0% | 12.7M+180.3% | 4.53M+60.9% | 2.82M+53.3% | |
| Dividends paid | 326M+7.4% | 303M+10.9% | 274M+11.6% | 245M+39.7% | 176M+15.1% | |
| Net change in cash | -57.0M-14062.5% | 408K-99.5% | 90.1M+181.7% | -110M-8.9% | -101M-182.7% | |
| Interest paid | 83.4M+7.2% | 77.8M+15.9% | 67.1M+28.9% | 52.1M+1.2% | 51.5M-11.7% | |
| Income taxes paid | 6.41M+22.0% | 5.25M-0.3% | 5.27M-28.6% | 7.38M+96.2% | 3.76M+52.9% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 3.46B-0.6% | 3.48B+38.1% | 2.52B+46.4% | 1.72B-11.1% | 1.93B+19.5% | |
| P/E | 10.2×-23.1% | 13.2×+46.9% | 9.0×-77.4% | 39.8×+258.0% | 11.1×+56.0% | |
| P/B | 1.6×-10.8% | 1.7×+14.6% | 1.5×+20.8% | 1.3×-14.6% | 1.5×+18.0% | |
| P/FCF | — | — | — | — | 15.1×+93.1% | |
| Earnings yield | 9.8%+30.0% | 7.6%-31.9% | 11.1%+341.8% | 2.5%-72.1% | 9.0%-35.9% | |
| FCF yield | — | — | — | — | 6.6%-48.2% | |
| Dividend yield | 9.4%+8.1% | 8.7%-15.8% | 10.4%-23.7% | 13.6%+49.8% | 9.1%-3.7% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: HTGC’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all HTGC filings on SEC EDGAR → Not investment advice.