Hercules Capital annual net debt
2021
2022
2023
2024
2025
Hercules Capital Net Debt Growth & History (HTGC)
Hercules Capital's net debt was $2.25B for fiscal 2025.
View full Hercules Capital company overviewHercules Capital annual net debt history
| Fiscal year | Period ended | Net debt | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $2.25B | $501.3M | +28.73% |
| 2024 | 2024-12-31 | $1.74B | $282.5M | +19.32% |
| 2023 | 2023-12-31 | $1.46B | −$103.3M | −6.60% |
| 2022 | 2022-12-31 | $1.57B | $454.7M | +40.94% |
| 2021 | 2021-12-31 | $1.11B | — | — |
Hercules Capital quarterly net debt
Q4.21
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 | Net debt | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $2.30B | $273.1M | +13.46% |
| Q1 2026 | 2026-03-31 | $2.51B | $569.2M | +29.30% |
| Q4 2025 | 2025-12-31 | $2.25B | $501.3M | +28.73% |
| Q3 2025 | 2025-09-30 | $2.14B | $419.6M | +24.41% |
| Q2 2025 | 2025-06-30 | $2.03B | $289.1M | +16.62% |
| Q1 2025 | 2025-03-31 | $1.94B | $220.9M | +12.83% |
| Q4 2024 | 2024-12-31 | $1.74B | $282.5M | +19.32% |
| Q3 2024 | 2024-09-30 | $1.72B | $112.8M | +7.02% |
| Q2 2024 | 2024-06-30 | $1.74B | $208.9M | +13.64% |
| Q1 2024 | 2024-03-31 | $1.72B | $73.5M | +4.46% |
| Q4 2023 | 2023-12-31 | $1.46B | −$103.3M | −6.60% |
| Q3 2023 | 2023-09-30 | $1.61B | $135.9M | +9.24% |
| Q2 2023 | 2023-06-30 | $1.53B | — | — |
| Q1 2023 | 2023-03-31 | $1.65B | — | — |
| Q4 2022 | 2022-12-31 | $1.57B | $454.7M | +40.94% |
| Q3 2022 | 2022-09-30 | $1.47B | — | — |
| Q4 2021 | 2021-12-31 | $1.11B | — | — |
Hercules Capital net debt trends
Between the periods ended 2021-12-31 and 2025-12-31, Hercules Capital's net debt increased from $1.11B to $2.25B, a change of $1.14B. The latest reported quarter, Q2 2026, shows $2.30B.
About the metric
What net debt means
Net debt compares a company’s interest-bearing debt with its cash and cash equivalents. Positive net debt means debt exceeds cash, while a negative value indicates the company has more cash than debt on this measure.
Calculation and source
How net debt is calculated
TickerStat calculates net debt as total interest-bearing debt minus cash and cash equivalents at the same reporting-period end. Short-term investments are not subtracted because they are not included in the standardized cash series. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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