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Hercules CapitalHTGC -1.22%60 Net Cash per Share is $-13.66 as of Mar. 2026. GuruFocus rates HTGC with a GF Score™ of 60/100 and a GF Value™ of $18.87 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 463 Asset Management companies, Hercules Capital ranks worse than 215982.51% on this metric.
The historical rank and industry rank for Hercules Capital's Net Cash per Share or its related term are showing as below:
HTGC's Price-to-Net-Cash is not ranked *
in the Asset Management industry.
Industry Median: 5.92 * Ranked among companies with meaningful Price-to-Net-Cash only.
Hercules Capital (NYSE:HTGC) Net Cash per Share Explanation
Ben Graham invested in situations where the company's stock price was lower than its net-cash. He assigned some value to the company's other current asset. The value is called Net Current Asset Value (NCAV). One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
You can find companies that are traded below their Net Current Asset Value (NCAV) with our Net-Net screener.
Hercules Capital Net Cash per Share Related Terms
Hercules Capital Net Cash per Share Historical Data
* Premium members only.
The historical data trend for Hercules Capital's Net Cash per Share 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.
HTGC vs JPC, FSK, DBRG: Net Cash per Share Comparison
For the Asset Management subindustry, Hercules Capital's Price-to-Net-Cash, along with its competitors' market caps and Price-to-Net-Cash 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-Net-Cash vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Hercules Capital's Price-to-Net-Cash distribution charts can be found below:
* The bar in red indicates where Hercules Capital's Price-to-Net-Cash falls into.
In the calculation of a company's Net Cash per Share, assets other than cash and short term investments are considered to be worth nothing. But the company has to pay its debt and other liabilities in full. This is an extremely conservative way of valuation. Most companies have negative Net Cash per Share. But sometimes a company's price may be lower than its net-cash.
Hercules Capital's Net Cash per Share for the fiscal year that ended in Dec. 2025 is calculated as
* 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 (HTGC) has a Net Cash per Share of $-13.66 as of Mar. 2026. Net cash per share equals the per-share value of cash and equivalents less total liabilities and minority interest. View historical data on Hercules Capital and its competitors. According to the industry distribution chart, Hercules Capital ranks #999999 out of 463 companies in the Asset Management industry.
Is Hercules Capital's Net Cash per Share too high?
Hercules Capital's current Net Cash per Share is $-13.66. Based on the distribution chart, Hercules Capital ranks #999999 out of 463 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 Net Cash per Share compare to JPC and FSK?
According to the Asset Management industry distribution chart, Hercules Capital ranks #999999 out of 463 companies for Net Cash per Share. This places Hercules Capital in the lower half of its industry. The industry median Net Cash per Share is 5.92. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Cash per Share for an Asset Management company?
The median Net Cash per Share among Asset Management companies is 5.92, based on 463 companies in the industry. Companies in the top quartile (top 25%) have a Net Cash per Share significantly above this median, while those in the bottom quartile fall well below. However, Net Cash per Share should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Cash per Share mean?
A high Net Cash per Share can signal that a stock is expensive relative to its fundamentals. Net cash per share equals the per-share value of cash and equivalents less total liabilities and minority interest. View historical data on Hercules Capital and its competitors. For the Asset Management industry, the median Net Cash per Share is 5.92 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hercules Capital's current Net Cash per Share is $-13.66. 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 $18.87, compared to a current price of $16.17 — trading 14.3% below its estimated fair value. The current Net Cash per Share is $-13.66. 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 Net Cash per Share calculated?
Net Cash per Share is calculated from a company's financial statements. For Hercules Capital (HTGC), the current Net Cash per Share is $-13.66 as of Mar. 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 $16.17 is trading 14.3% below its estimated GF Value™ of $18.87.
GuruFocus considers Hercules Capital to be Modestly Undervalued.
Key valuation signals for HTGC:
Net Cash per Share: $-13.66
GF Value™: $18.87 vs. price of $16.17 (14.3% below fair value)
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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