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Asset Utilization RatioAssets AverageEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginFCF Payout RatioInterest Coverage RatioInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on EquityReturn on Invested CapitalReturn on SalesTimes Interest Earned

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

Hercules Capital's Operating Margin history spans 5 years, with the latest figure at 63.29% for Q4 2025.

  • On a quarterly basis, Operating Margin fell 335.0% to 63.29% in Q4 2025 year-over-year; TTM through Dec 2025 was 64.17%, a 184.0% decrease, with the full-year FY2025 number at 64.17%, down 184.0% from a year prior.
  • Operating Margin hit 63.29% in Q4 2025 for Hercules Capital, down from 64.12% in the prior quarter.
  • Over the last five years, Operating Margin for HTGC hit a ceiling of 70.18% in Q4 2023 and a floor of 54.26% in Q3 2021.
  • Historically, Operating Margin has averaged 62.56% across 5 years, with a median of 64.34% in 2025.
  • Biggest five-year swings in Operating Margin: soared 948bps in 2023 and later tumbled -355bps in 2024.
  • Tracing HTGC's Operating Margin over 5 years: stood at 55.69% in 2021, then increased by 11bps to 62.03% in 2022, then increased by 13bps to 70.18% in 2023, then dropped by -5bps to 66.63% in 2024, then dropped by -5bps to 63.29% in 2025.
  • Business Quant data shows Operating Margin for HTGC at 63.29% in Q4 2025, 64.12% in Q3 2025, and 64.55% in Q2 2025.