Hercules Capital (HCXY) Net Margin (2021 - 2026)

Hercules Capital's Net Margin history runs 6 years deep, the most recent figure standing at 41.67% for Q1 2026.

• In Q1 2026, Net Margin fell 590.0% year-over-year to 41.67%; the TTM figure through Mar 2026 stood at 44.34% (down 426.0% YoY), while the FY2025 annual figure was 45.77%, down 343.0% from the prior year.
• Net Margin came in at 41.67% for Q1 2026 at Hercules Capital, down from 43.29% in the prior quarter.
• In the past five years, Net Margin ranged from a high of 55.33% in Q4 2023 to a low of 33.13% in Q1 2022.
• A 5-year average of 45.46% and a median of 47.09% in 2025 frame the typical range for Net Margin.
• Across the five-year window, Net Margin soared 1519 bps in 2023 and slumped 625 bps in 2024, its largest moves.
• Hercules Capital's Net Margin stood at 44.88% in 2022, then advanced by 23 bps to 55.33% in 2023, then declined by 11 bps to 49.08% in 2024, then fell by 12 bps to 43.29% in 2025, then retreated by 4 bps to 41.67% in 2026.
• According to Business Quant data, Net Margin over the past three periods registered 41.67%, 43.29%, and 45.38% for Q1 2026, Q4 2025, and Q3 2025 respectively.

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