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

Hercules Capital has disclosed Net Margin across 6 years of filings, most recently posting 41.67% for Q1 2026.

• Net Margin for Q1 2026 came in at 41.67%, down 590.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 44.34% (down 426.0% YoY), and the FY2025 annual result 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.
• The 5-year median for Net Margin is 47.09% (2025), against an average of 45.46%.
• Across the five-year window, Net Margin surged 1519 bps in 2023 and tumbled 625 bps in 2024, its largest moves.
• Hercules Capital's Net Margin stood at 44.88% in 2022, then gained by 23 bps to 55.33% in 2023, then dropped by 11 bps to 49.08% in 2024, then declined by 12 bps to 43.29% in 2025, then fell by 4 bps to 41.67% in 2026.
• The last three Net Margin figures came in at 41.67% (Q1 2026), 43.29% (Q4 2025), and 45.38% (Q3 2025), per Business Quant data.