Hercules Capital annual debt-to-equity ratio
2021
2022
2023
2024
2025
Hercules Capital Debt-to-Equity Ratio Growth & History (HTGC)
Hercules Capital's debt-to-equity ratio was 1.04 for fiscal 2025.
View full Hercules Capital company overviewHercules Capital annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 1.04 | 0.14 | +15.68% |
| 2024 | 2024-12-31 | 0.90 | 0.03 | +3.80% |
| 2023 | 2023-12-31 | 0.87 | −0.26 | −23.23% |
| 2022 | 2022-12-31 | 1.13 | 0.18 | +18.61% |
| 2021 | 2021-12-31 | 0.95 | — | — |
Hercules Capital quarterly debt-to-equity ratio
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 1.03 | 0.07 | +6.81% |
| Q1 2026 | 2026-03-31 | 1.15 | 0.15 | +15.09% |
| Q4 2025 | 2025-12-31 | 1.04 | 0.14 | +15.68% |
| Q3 2025 | 2025-09-30 | 0.99 | 0.04 | +4.29% |
| Q2 2025 | 2025-06-30 | 0.97 | 0.02 | +1.70% |
| Q1 2025 | 2025-03-31 | 1.00 | 0.06 | +6.10% |
| Q4 2024 | 2024-12-31 | 0.90 | 0.03 | +3.80% |
| Q3 2024 | 2024-09-30 | 0.95 | −0.04 | −4.27% |
| Q2 2024 | 2024-06-30 | 0.95 | −0.05 | −5.29% |
| Q1 2024 | 2024-03-31 | 0.94 | −0.21 | −18.12% |
| Q4 2023 | 2023-12-31 | 0.87 | −0.26 | −23.23% |
| Q3 2023 | 2023-09-30 | 0.99 | −0.13 | −11.53% |
| Q2 2023 | 2023-06-30 | 1.00 | — | — |
| Q1 2023 | 2023-03-31 | 1.15 | — | — |
| Q4 2022 | 2022-12-31 | 1.13 | — | — |
| Q3 2022 | 2022-09-30 | 1.12 | — | — |
Hercules Capital debt-to-equity ratio trends
Between the periods ended 2021-12-31 and 2025-12-31, Hercules Capital's debt-to-equity ratio increased from 0.95 to 1.04, a change of 0.09. The latest reported quarter, Q2 2026, shows 1.03.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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