Hercules Capital (HTGC) FCF Margin (2009 - 2026)
Hercules Capital (HTGC) recorded FCF Margin of -118.22% in Q3 2026, down 115.90 percentage points from -2.32% a year earlier and down 318.01 percentage points from the prior quarter.
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Analysis
Hercules Capital (HTGC) FCF Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Hercules Capital's FCF Margin came in at -27.11% as of Sep 30, 2026, up 50.19 percentage points year-over-year; for FY2025, it came in at -79.98%, down 55.91 percentage points from FY2024.
- Annual FCF Margin has a five-year change of -152.27 percentage points (FY2020 to FY2025).
- Across earlier years, FCF Margin came in at -24.07% in FY2024 (-38.70 pp), 14.63% in FY2023 (+146.72 pp), -132.09% in FY2022 (-177.83 pp) and 45.74% in FY2021 (-26.55 pp).
- Quarterly FCF Margin has ranged from -289.57% in Q1 2022 to 199.79% in Q2 2026 over the past five years.
- On a year-over-year basis, FCF Margin rose in three of the last eight quarters, with an average year-over-year change of -18.87 percentage points.
- Peak year-over-year performance for FCF Margin in the last five years was a gain of 305.16 percentage points in Q2 2026, against a drop of 202.61 percentage points in Q4 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at 199.79% (Q2 2026), -162.96% (Q1 2026) and -40.49% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Royalty Pharma | 39.80 Bn | 40.13 Bn | - | 99.42% |
| 2 | Rocket Companies | 38.90 Bn | 27.72 Bn | - | 56.70% |
| 3 | Orix | 38.66 Bn | 9.30 Bn | 13.83 Bn | - |
| 4 | Federal National Mortgage Association Fannie Mae | 26.46 Bn | -16,107.65 Bn | - | 10.46% |
| 5 | Synchrony Financial | 22.47 Bn | -45.15 Bn | - | 50.83% |
| 6 | Affirm Holdings | 22.07 Bn | 15.11 Bn | - | 11.45% |
| 7 | Royal Gold | 21.71 Bn | 20.92 Bn | 402.46 Mn | 73.88% |
| 8 | Ares Capital | 13.84 Bn | 11.59 Bn | - | 137.88% |
| 9 | Annaly Capital Management | 13.83 Bn | 4.86 Bn | - | 332.74% |
| 10 | Hercules Capital | 3.01 Bn | 2.66 Bn | - | -118.22% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | -118.22% |
| Jun 30, 2026 | 199.79% |
| Mar 31, 2026 | -162.96% |
| Dec 31, 2025 | -40.49% |
| Sep 30, 2025 | -2.32% |
| Jun 30, 2025 | -105.37% |
| Mar 31, 2025 | -185.93% |
| Dec 31, 2024 | -24.02% |
| Sep 30, 2024 | 73.87% |
| Jun 30, 2024 | 47.29% |
| Mar 31, 2024 | -198.42% |
| Dec 31, 2023 | 106.34% |
| Sep 30, 2023 | -98.83% |
| Jun 30, 2023 | 114.73% |
| Mar 31, 2023 | -77.05% |
| Dec 31, 2022 | -64.82% |
| Sep 30, 2022 | -63.14% |
| Jun 30, 2022 | -163.78% |
| Mar 31, 2022 | -289.57% |
| Dec 31, 2021 | 137.79% |
API Access
Hercules Capital FCF Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=fcf-margin&ticker=HTGC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "ticker": "HTGC", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=fcf-margin&ticker=HTGC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();