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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 - 2025)

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

  • For Q4 2025, Operating Margin fell 335.0% year-over-year to 63.29%; the TTM value through Dec 2025 reached 64.17%, down 184.0%, while the annual FY2025 figure was 64.17%, 184.0% down from the prior year.
  • Operating Margin for Q4 2025 was 63.29% at Hercules Capital, down from 64.12% in the prior quarter.
  • Across five years, Operating Margin topped out at 70.18% in Q4 2023 and bottomed at 59.36% in Q3 2022.
  • The 5-year median for Operating Margin is 65.13% (2024), against an average of 64.77%.
  • The largest annual shift saw Operating Margin plummeted -389bps in 2022 before it skyrocketed 815bps in 2023.
  • A 5-year view of Operating Margin shows it stood at 65.92% in 2021, then fell by -6bps 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.
  • Per Business Quant, the three most recent readings for HTGC's Operating Margin are 63.29% (Q4 2025), 64.12% (Q3 2025), and 64.55% (Q2 2025).