Hercules Capital HTGC
NYSE HTGC
$15.88 +0.04 (+0.25%)
At close: Nov 13, 2026 · 4:00 PM EST

Hercules Capital (HTGC) Net Margin (2009 - 2026)

Updated

Hercules Capital's Net Margin was 66.78% in Q3 2026, down 19.89 percentage points from 86.67% a year earlier and down 20.52 percentage points from the prior quarter.

Analysis

Hercules Capital (HTGC) Net Margin (2009 - 2026) Analysis & Trends

On a trailing twelve-month basis, Hercules Capital's Net Margin was 62.84% through Sep 30, 2026, up 2.80 percentage points year-over-year; for FY2025, it came in at 63.80%, up 10.53 percentage points from FY2024.

  • Net Margin shows a four-year change of +1.82 percentage points (FY2021 to FY2025).
  • In earlier years, Net Margin was 53.28% in FY2024 (-19.98 pp), 73.26% in FY2023 (+41.53 pp), 31.73% in FY2022 (-30.25 pp) and 61.98% in FY2021.
  • Quarterly Net Margin has moved between -14.31% (Q2 2022) and 98.02% (Q4 2023) over five years.
  • Compared with a year earlier, Net Margin was higher in four of the last eight quarters, with an average year-over-year change of -1.37 percentage points.
  • The best year-over-year quarter for Net Margin over five years was Q2 2023 (a gain of 95.85 percentage points); the worst was Q2 2024 (a drop of 48.06 percentage points).
  • Per Business Quant data, HTGC's Net Margin in the three quarters before Q3 2026 was 87.30% (Q2 2026), 30.03% (Q1 2026) and 66.09% (Q4 2025).
Peer Set

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Net Margin (Qtr)
1 Royalty Pharma 39.80 Bn 40.13 Bn - 20.96%
2 Rocket Companies 38.90 Bn 27.72 Bn - 21.59%
3 Orix 38.66 Bn 9.30 Bn 13.83 Bn 25.03%
4 Federal National Mortgage Association Fannie Mae 26.46 Bn -16,107.65 Bn - 12.38%
5 Synchrony Financial 22.47 Bn -45.15 Bn - 17.58%
6 Affirm Holdings 22.07 Bn 15.11 Bn - 13.01%
7 Royal Gold 21.71 Bn 20.92 Bn 402.46 Mn 48.93%
8 Ares Capital 13.84 Bn 11.59 Bn - 41.81%
9 Annaly Capital Management 13.83 Bn 4.86 Bn - -121.54%
10 Hercules Capital 3.01 Bn 2.66 Bn - 66.78%
Historic Data

Historic Data

Download Data
DateValue
Sep 30, 2026 66.78%
Jun 30, 2026 87.30%
Mar 31, 2026 30.03%
Dec 31, 2025 66.09%
Sep 30, 2025 86.67%
Jun 30, 2025 57.39%
Mar 31, 2025 42.12%
Dec 31, 2024 50.45%
Sep 30, 2024 54.86%
Jun 30, 2024 33.48%
Mar 31, 2024 74.83%
Dec 31, 2023 98.02%
Sep 30, 2023 23.96%
Jun 30, 2023 81.54%
Mar 31, 2023 89.98%
Dec 31, 2022 62.42%
Sep 30, 2022 63.16%
Jun 30, 2022 -14.31%
Mar 31, 2022 -5.12%
Dec 31, 2021 5.12%
API Access

Hercules Capital Net 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=net-margin&ticker=HTGC&period=max&api_key=YOUR_API_KEY