Horizon Technology Finance (HRZN) Operating Margin (2022 - 2026)
Horizon Technology Finance (HRZN) posted quarterly Operating Margin of 37.26% for Q1 2026, down 647.0% year-over-year from 6.81% in Q1 2025, and up 8.01% quarter-over-quarter from 34.49% in Q4 2025.
Horizon Technology Finance (HRZN) Operating Margin (2022 - 2026) Analysis & Trends
Horizon Technology Finance (HRZN) has reported Operating Margin for 5 consecutive years, with 37.26% the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Margin fell 647.0% year-over-year to 37.26%; the TTM figure through Mar 2026 stood at 44.24% (down 170.0% YoY), while the FY2025 annual figure was 46.25%, down 157.0% from the prior year.
- Operating Margin climbed to 37.26% in Q1 2026 per HRZN's latest filing, from 34.49% in the prior quarter.
- Across five years, Operating Margin topped out at 60.17% in Q3 2023 and bottomed at 34.49% in Q4 2025.
- Historically, Operating Margin has averaged 47.44% across 5 years, with a median of 48.17% in 2022.
- Annual changes were most pronounced in 2023 — Operating Margin surged 1228 bps — and 2024, when it sank 1177 bps.
- Horizon Technology Finance's Operating Margin stood at 48.17% in 2022, then increased by 7 bps to 51.34% in 2023, then fell by 23 bps to 39.57% in 2024, then slipped by 13 bps to 34.49% in 2025, then rose by 8 bps to 37.26% in 2026.
- Business Quant data shows HRZN's Operating Margin at 37.26% in Q1 2026, 34.49% in Q4 2025, and 54.59% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 178.15 Bn | 164.28 Bn | - | 34.74% |
| 2 | Blackstone | 114.20 Bn | 111.70 Bn | - | - |
| 3 | Kkr | 96.55 Bn | -180.52 Bn | - | 35.61% |
| 4 | Brookfield | 93.56 Bn | 46.15 Bn | - | - |
| 5 | Brookfield Asset Management | 83.29 Bn | 81.79 Bn | - | - |
| 6 | Apollo Global Management | 77.87 Bn | 52.50 Bn | 10.54 Bn | 47.97% |
| 7 | State Street | 51.56 Bn | 51.56 Bn | - | - |
| 8 | Ameriprise Financial | 50.85 Bn | 39.81 Bn | 4.72 Bn | 24.36% |
| 9 | Northern Trust | 33.99 Bn | 33.99 Bn | - | - |
| 10 | Horizon Technology Finance | 313.50 Mn | 313.50 Mn | - | 30.58% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 37.26% |
| Dec 31, 2025 | 34.49% |
| Sep 30, 2025 | 54.59% |
| Jun 30, 2025 | 48.21% |
| Mar 31, 2025 | 43.72% |
| Dec 31, 2024 | 39.57% |
| Sep 30, 2024 | 49.71% |
| Jun 30, 2024 | 50.29% |
| Mar 31, 2024 | 49.69% |
| Dec 31, 2023 | 51.34% |
| Sep 30, 2023 | 60.17% |
| Jun 30, 2023 | 57.16% |
| Mar 31, 2023 | 46.41% |
| Dec 31, 2022 | 48.17% |
| Sep 30, 2022 | 47.89% |
| Jun 30, 2022 | 46.74% |
| Mar 31, 2022 | 41.04% |