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Hercules CapitalHTGC -0.19%60 Intrinsic Value: Projected FCF is $2.89 as of Jul. 31, 2026, which is 53% below its 10-year median of 6.17. GuruFocus rates HTGC with a GF Score™ of 60/100 and a GF Value™ of $19.13 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 1,213 Asset Management companies, Hercules Capital ranks worse than 95.88% on this metric.
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company. The details of how we calculate the intrinsic value of stocks are described in detail here.
As of today (2026-07-31), Hercules Capital's Intrinsic Value: Projected FCF is $2.89. The stock price of Hercules Capital is $15.94. Therefore, Hercules Capital's Price-to-Intrinsic-Value-Projected-FCF of today is 5.5.
The historical rank and industry rank for Hercules Capital's Intrinsic Value: Projected FCF or its related term are showing as below:
HTGC'
s Price-to-Projected-FCF Range Over the Past 10 Years
Min: 3.56 Med: 6.17 Max: 19.73
Current: 5.52
During the past 13 years, the highest Price-to-Intrinsic-Value-Projected-FCF of Hercules Capital was 19.73. The lowest was 3.56. And the median was 6.17.
HTGC's Price-to-Projected-FCF is ranked worse than 95.88% of 1213
companies
in the Asset Management industry
Industry Median: 0.9
vs HTGC: 5.52
Hercules Capital (NYSE:HTGC) Intrinsic Value: Projected FCF Explanation
The growth multiple is capped between 8.35 and 17.74.
Total Stockholders Equity weighting is more art than science and it should always be revisited in more detail when researching a company. Weightings from 0% to 100% to more than 100% are possible. 80% was chosen as a happy median after taking the above ideas into consideration.
Hercules Capital's Price-to-Intrinsic-Value-Projected-FCF for today is calculated as
Price-to-Intrinsic-Value-Projected-FCF
=
Share Price
/
Intrinsic Value: Projected FCF
=
15.94
/
2.8868665556066
=
5.52
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Hercules Capital Intrinsic Value: Projected FCF Related Terms
Hercules Capital Intrinsic Value: Projected FCF Historical Data
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The historical data trend for Hercules Capital's Intrinsic Value: Projected FCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Hercules Capital Intrinsic Value: Projected FCF Chart
HTGC vs DBRG, WT, FSK: Intrinsic Value: Projected FCF Comparison
For the Asset Management subindustry, Hercules Capital's Price-to-Projected-FCF, along with its competitors' market caps and Price-to-Projected-FCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Hercules Capital Price-to-Projected-FCF vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Hercules Capital's Price-to-Projected-FCF distribution charts can be found below:
* The bar in red indicates where Hercules Capital's Price-to-Projected-FCF falls into.
Hercules Capital Intrinsic Value: Projected FCF Calculation
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company.
The details of how we calculate the intrinsic value of stocks are described in detail here.
This method smooths out the free cash flow over the past 6-7 years, multiplies the results by a growth multiple, and adds a portion of Total Stockholders Equity.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Intrinsic Value: Projected FCF of $2.89 mean?
Hercules Capital (HTGC) has a Intrinsic Value: Projected FCF of $2.89 as of Jul. 31, 2026. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on Hercules Capital and its competitors. This is 53% below median its historical median of 6.17. Over the past decade, Hercules Capital's Intrinsic Value: Projected FCF has ranged from 3.56 to 19.73. According to the industry distribution chart, Hercules Capital ranks #1163 out of 1213 companies in the Asset Management industry, placing it in the top 95.9%.
Is Hercules Capital's Intrinsic Value: Projected FCF too high?
Hercules Capital's current Intrinsic Value: Projected FCF of $2.89 is 53% below median its 10-year median of 6.17. Over the past 10 years, this metric has ranged from a low of 3.56 to a high of 19.73. The Asset Management industry median Intrinsic Value: Projected FCF is 0.90. Hercules Capital's value of $2.89 is 221.1% above this industry median. Based on the distribution chart, Hercules Capital ranks #1163 out of 1213 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, Hercules Capital has a GF Score™ of 60/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Hercules Capital's Intrinsic Value: Projected FCF compare to DBRG and WT?
According to the Asset Management industry distribution chart, Hercules Capital ranks #1163 out of 1213 companies for Intrinsic Value: Projected FCF. This places Hercules Capital in the lower half of its industry. The industry median Intrinsic Value: Projected FCF is 0.90. Hercules Capital's value of $2.89 is 221.1% above this benchmark. Historically, Hercules Capital's own Intrinsic Value: Projected FCF has ranged from 3.56 to 19.73 over the past decade. While the company's 10-year median is 6.17 vs. the industry median of 0.90, Hercules Capital has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Intrinsic Value: Projected FCF for an Asset Management company?
The median Intrinsic Value: Projected FCF among Asset Management companies is 0.90, based on 1,213 companies in the industry. Companies in the top quartile (top 25%) have a Intrinsic Value: Projected FCF significantly above this median, while those in the bottom quartile fall well below. However, Intrinsic Value: Projected FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Hercules Capital's current Intrinsic Value: Projected FCF of $2.89 is 221.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Intrinsic Value: Projected FCF mean?
A high Intrinsic Value: Projected FCF can signal that a stock is expensive relative to its fundamentals. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on Hercules Capital and its competitors. For the Asset Management industry, the median Intrinsic Value: Projected FCF is 0.90 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hercules Capital's current Intrinsic Value: Projected FCF is $2.89, which is 53% below median its own 10-year median of 6.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hercules Capital stock overvalued right now?
Based on GuruFocus' analysis, Hercules Capital (HTGC) is currently considered Modestly Undervalued. The stock's GF Value™ is $19.13, compared to a current price of $15.94 — trading 16.7% below its estimated fair value. The current Intrinsic Value: Projected FCF is $2.89, which is 53% below median its 10-year median of 6.17 and 221.1% above the Asset Management industry median of 0.90. Hercules Capital's overall GF Score™ is 60/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Intrinsic Value: Projected FCF calculated?
Intrinsic Value: Projected FCF is calculated from a company's financial statements. For Hercules Capital (HTGC), the current Intrinsic Value: Projected FCF is $2.89 as of Jul. 31, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Hercules Capital (HTGC) Overvalued in 2026?
Based on GuruFocus' analysis, Hercules Capital stock appears to be undervalued.
The current stock price of $15.94 is trading 16.7% below its estimated GF Value™ of $19.13.
GuruFocus considers Hercules Capital to be Modestly Undervalued.
Key valuation signals for HTGC:
Intrinsic Value: Projected FCF: $2.89 (53% below median its 10-year median of 6.17)
GF Value™: $19.13 vs. price of $15.94 (16.7% below fair value)
Industry Position: 221.1% above the Asset Management median (#1163 of 1213)
No single metric tells the full story. See the HTGC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hercules Capital Inc is a specialty finance company focused on providing senior secured loans to high-growth, venture capital-backed, and institutional-backed companies in a variety of technology and life sciences industries. The company's primary business objectives are to increase its net income, net investment income, and net asset value (NAV) through its investments mainly in structured debt or senior secured debt instruments of venture capital-backed and institutional-backed companies across a variety of technology-related industries at attractive yields. It finances companies belonging to computer software and hardware, networking systems, semiconductors, medical devices, bio-pharmaceutical, and other related sectors.
60GF Score
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Intrinsic Value: Projected FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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