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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 7/10

vs
industry
vs
history
Cash to Debt 0.27
HRZN's Cash to Debt is ranked lower than
65% of the 1088 Companies
in the Global Asset Management industry.

( Industry Median: 10000.00 vs. HRZN: 0.27 )
HRZN' s 10-Year Cash to Debt Range
Min: 0.04   Max: 0.27
Current: 0.27

0.04
0.27
Equity to Asset 0.52
HRZN's Equity to Asset is ranked lower than
57% of the 1194 Companies
in the Global Asset Management industry.

( Industry Median: 0.82 vs. HRZN: 0.52 )
HRZN' s 10-Year Equity to Asset Range
Min: 0.48   Max: 0.66
Current: 0.52

0.48
0.66
Interest Coverage 1.66
HRZN's Interest Coverage is ranked lower than
69% of the 1020 Companies
in the Global Asset Management industry.

( Industry Median: 383.08 vs. HRZN: 1.66 )
HRZN' s 10-Year Interest Coverage Range
Min: 1.66   Max: 4
Current: 1.66

1.66
4
F-Score: 6
Z-Score: 0.27
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 8/10

vs
industry
vs
history
Operating margin (%) 40.16
HRZN's Operating margin (%) is ranked higher than
61% of the 1211 Companies
in the Global Asset Management industry.

( Industry Median: 47.00 vs. HRZN: 40.16 )
HRZN' s 10-Year Operating margin (%) Range
Min: 40.16   Max: 56.94
Current: 40.16

40.16
56.94
Net-margin (%) 10.43
HRZN's Net-margin (%) is ranked lower than
51% of the 1221 Companies
in the Global Asset Management industry.

( Industry Median: 46.10 vs. HRZN: 10.43 )
HRZN' s 10-Year Net-margin (%) Range
Min: 10.43   Max: 56.94
Current: 10.43

10.43
56.94
ROE (%) 2.58
HRZN's ROE (%) is ranked higher than
52% of the 1270 Companies
in the Global Asset Management industry.

( Industry Median: 7.95 vs. HRZN: 2.58 )
HRZN' s 10-Year ROE (%) Range
Min: 2.58   Max: 15.65
Current: 2.58

2.58
15.65
ROA (%) 1.33
HRZN's ROA (%) is ranked higher than
52% of the 1283 Companies
in the Global Asset Management industry.

( Industry Median: 4.32 vs. HRZN: 1.33 )
HRZN' s 10-Year ROA (%) Range
Min: 1.33   Max: 7.46
Current: 1.33

1.33
7.46
ROC (Joel Greenblatt) (%) 306.09
HRZN's ROC (Joel Greenblatt) (%) is ranked higher than
81% of the 797 Companies
in the Global Asset Management industry.

( Industry Median: 58.81 vs. HRZN: 306.09 )
HRZN' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 8.3   Max: 690.4
Current: 306.09

8.3
690.4
» HRZN's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

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Ratios

vs
industry
vs
history
P/E(ttm) 35.60
HRZN's P/E(ttm) is ranked lower than
64% of the 969 Companies
in the Global Asset Management industry.

( Industry Median: 12.00 vs. HRZN: 35.60 )
HRZN' s 10-Year P/E(ttm) Range
Min: 10.65   Max: 39.46
Current: 35.6

10.65
39.46
P/B 0.90
HRZN's P/B is ranked higher than
69% of the 1193 Companies
in the Global Asset Management industry.

( Industry Median: 0.98 vs. HRZN: 0.90 )
HRZN' s 10-Year P/B Range
Min: 0.83   Max: 1.04
Current: 0.9

0.83
1.04
P/S 3.70
HRZN's P/S is ranked higher than
66% of the 1226 Companies
in the Global Asset Management industry.

( Industry Median: 5.17 vs. HRZN: 3.70 )
HRZN' s 10-Year P/S Range
Min: 3.57   Max: 11.52
Current: 3.7

3.57
11.52
PFCF 19.90
HRZN's PFCF is ranked higher than
57% of the 722 Companies
in the Global Asset Management industry.

( Industry Median: 18.65 vs. HRZN: 19.90 )
HRZN' s 10-Year PFCF Range
Min: 9.23   Max: 22.12
Current: 19.9

9.23
22.12
EV-to-EBIT 15.90
HRZN's EV-to-EBIT is ranked higher than
52% of the 990 Companies
in the Global Asset Management industry.

( Industry Median: 13.50 vs. HRZN: 15.90 )
HRZN' s 10-Year EV-to-EBIT Range
Min: 13.9   Max: 21.5
Current: 15.9

13.9
21.5

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 10.50
HRZN's Dividend Yield is ranked higher than
94% of the 954 Companies
in the Global Asset Management industry.

( Industry Median: 3.26 vs. HRZN: 10.50 )
HRZN' s 10-Year Dividend Yield Range
Min: 2.03   Max: 14.53
Current: 10.5

2.03
14.53
Dividend Payout 3.77
HRZN's Dividend Payout is ranked lower than
75% of the 750 Companies
in the Global Asset Management industry.

( Industry Median: 0.37 vs. HRZN: 3.77 )
HRZN' s 10-Year Dividend Payout Range
Min: 0.82   Max: 4.32
Current: 3.77

0.82
4.32
Yield on cost (5-Year) 10.50
HRZN's Yield on cost (5-Year) is ranked higher than
90% of the 978 Companies
in the Global Asset Management industry.

( Industry Median: 3.61 vs. HRZN: 10.50 )
HRZN' s 10-Year Yield on cost (5-Year) Range
Min: 2.03   Max: 14.53
Current: 10.5

2.03
14.53

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 0.90
HRZN's Price/Tangible Book is ranked higher than
70% of the 1128 Companies
in the Global Asset Management industry.

( Industry Median: 1.00 vs. HRZN: 0.90 )
HRZN' s 10-Year Price/Tangible Book Range
Min: 0.96   Max: 1.01
Current: 0.9

0.96
1.01
Price/Median PS Value 0.80
HRZN's Price/Median PS Value is ranked higher than
81% of the 1026 Companies
in the Global Asset Management industry.

( Industry Median: 1.10 vs. HRZN: 0.80 )
HRZN' s 10-Year Price/Median PS Value Range
Min: 0.82   Max: 1.04
Current: 0.8

0.82
1.04
Price/Graham Number 1.20
HRZN's Price/Graham Number is ranked lower than
61% of the 914 Companies
in the Global Asset Management industry.

( Industry Median: 0.70 vs. HRZN: 1.20 )
HRZN' s 10-Year Price/Graham Number Range
Min: 0.7   Max: 1.32
Current: 1.2

0.7
1.32
Earnings Yield (Greenblatt) 6.30
HRZN's Earnings Yield (Greenblatt) is ranked higher than
55% of the 1022 Companies
in the Global Asset Management industry.

( Industry Median: 7.60 vs. HRZN: 6.30 )
HRZN' s 10-Year Earnings Yield (Greenblatt) Range
Min: 4.7   Max: 7.2
Current: 6.3

4.7
7.2

Business Description

Industry: Asset Management » Asset Management
Compare: » details
Horizon Technology Finance Corp was incorporated in the state of Delaware in the year 2010 and it is an externally managed, non-diversified, closed end investment company. The company is a specialty finance company that lends to and invests in development-stage companies in the technology, life science, healthcare information and services, and cleantech industries, which refer to as 'Target Industries.' Its investment objective is to generate current income from the loans the company make and capital appreciation from the warrants it receives when making such loans. The company makes secured loans, which refer to as 'Technology Loans,' to companies backed by established venture capital and private equity firms in its Target Industries, which refer to as 'Technology Lending.' The company also selectively lend to publicly traded companies in its Target Industries. The company is externally managed and advised by Advisor, Horizon Technology Finance Management LLC. Interest on loan investments is accrued and included in income based on contractual rates applied to principal amounts outstanding. The company receives a variety of fees from borrowers in the ordinary course of conducting its business, including advisory fees, commitment fees, amendment fees, non-utilization fees and prepayment fees. Its advisor employing the following core strategies: Structured Investments in the Venture Capital and Private Equity Markets: The company make loans to development-stage companies within Target Industries typically in the form of secured amortizing loans, the secured amortizing debt structure provides a lower risk strategy, as compared to equity investments, to participate in the emerging technology markets, because the debt structures it typically utilize provide collateral against the downside risk of loss; 'Enterprise Value' Lending: It take an enterprise value approach to the loan structuring and underwriting process; Creative Products with Attractive Risk-Adjusted Pricing: Each of existing and prospective portfolio companies has its own unique funding needs for the capital provided from the proceeds of its Technology Loans; Direct Origination: The company originate transactions directly with technology, life science, healthcare information and services, and cleantech companies. The company has identified several criteria that it believes proven, and will prove, important in achieving investment objective which includes Portfolio Composition: It make investments in companies that are diversified by their stage of development, their Target Industries and sectors of Target Industries, and their geographical location, as well as by the venture capital and private equity sponsors; Company Stage of Development: While invest in companies at various stages of development, it require that prospective portfolio companies be beyond the seed stage of development and have received at least their first round of venture capital or private equity finan

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