Hercules Capital, Inc. HTGC NYSE

Hercules Capital, Inc. (HTGC) generated $-425.8M in operating cash flow for fiscal year 2025. After capital expenditures of $89K, free cash flow was $-425.89M.

Free cash flow margin was -77.8% of revenue. Cash conversion ratio was 3.1x, indicating earnings are backed by cash.

The company returned $276.06M in dividends and $6.49M in share buybacks to shareholders during the period.

Criteria supported by this page:

• HEALTH (50/100, Partial) — cash generation is adequate but may not fully cover debt in stressed conditions
• MOAT (70/100, Pass) — $-425.89M (-77.8% FCF margin) supports a durable competitive advantage
• INCOME (100/100) — Cash conversion ratio was 3.1x confirms earnings are backed by real cash flow

Overall SharesGrow Score: 76/100 with 4/7 criteria passed.