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

Hercules Capital (HCXY) has 6 years of Operating Margin data on file, last reported at 62.25% in Q1 2026.

• For the quarter ending Q1 2026, Operating Margin fell 256.0% year-over-year to 62.25%; the trailing twelve-month figure through Mar 2026 stood at 63.55% (down 239.0% YoY), and the FY2025 full-year result was 64.17%, down 184.0% from the prior year.
• Operating Margin fell to 62.25% in Q1 2026, from 63.29% in the prior quarter.
• In the past five years, Operating Margin ranged from a high of 70.18% in Q4 2023 to a low of 54.92% in Q1 2022.
• A 5-year average of 63.44% and a median of 64.55% in 2025 frame the typical range for Operating Margin.
• Across the five-year window, Operating Margin jumped 948 bps in 2023 and tumbled 355 bps in 2024, its largest moves.
• Tracing HCXY's Operating Margin over 5 years: stood at 62.03% in 2022, then rose by 13 bps to 70.18% in 2023, then declined by 5 bps to 66.63% in 2024, then declined by 5 bps to 63.29% in 2025, then decreased by 2 bps to 62.25% in 2026.
• Business Quant data shows HCXY's Operating Margin at 62.25% in Q1 2026, 63.29% in Q4 2025, and 64.12% in Q3 2025.