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Hercules CapitalHTGC +1.99%64 Price-to-Tangible-Book is 1.39 as of Aug. 13, 2026, which is 4% above its 10-year median of 1.34. GuruFocus rates HTGC with a GF Score™ of 64/100 and a GF Value™ of $19.18 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 1,531 Asset Management companies, Hercules Capital ranks worse than 78.38% on this metric.
Some businesses have very light assets, such as software companies or insurance agencies. The Price-to-Book Ratio does not work well for these companies. Some companies even have negative equity, so the Price-to-Book Ratio cannot be applied to them.
Hercules Capital Price-to-Tangible-Book Related Terms
Hercules Capital Price-to-Tangible-Book Historical Data
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The historical data trend for Hercules Capital's Price-to-Tangible-Book 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 DBRG, WT, FSK: Price-to-Tangible-Book Comparison
For the Asset Management subindustry, Hercules Capital's Price-to-Tangible-Book, along with its competitors' market caps and Price-to-Tangible-Book 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-Tangible-Book vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Hercules Capital's Price-to-Tangible-Book distribution charts can be found below:
* The bar in red indicates where Hercules Capital's Price-to-Tangible-Book falls into.
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called PB Ratio. The difference between Price-to-Tangible-Book Ratio and PB Ratio is that book value other than intangibles are used in the calculation.
Hercules Capital (HTGC) has a Price-to-Tangible-Book of 1.39 as of Aug. 13, 2026. Price-to-tangible-book ratio is the ratio of share price to a company's tangible book value per share. View historical data on Hercules Capital and its competitors. This is near median its historical median of 1.34. Over the past decade, Hercules Capital's Price-to-Tangible-Book has ranged from 0.77 to 1.79. According to the industry distribution chart, Hercules Capital ranks #1200 out of 1531 companies in the Asset Management industry, placing it in the top 78.4%.
Is Hercules Capital's Price-to-Tangible-Book too high?
Hercules Capital's current Price-to-Tangible-Book of 1.39 is near median its 10-year median of 1.34. Over the past 10 years, this metric has ranged from a low of 0.77 to a high of 1.79. The Asset Management industry median Price-to-Tangible-Book is 0.96. Hercules Capital's value of 1.39 is 44.8% above this industry median. Based on the distribution chart, Hercules Capital ranks #1200 out of 1531 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, Hercules Capital has a GF Score™ of 64/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Hercules Capital's Price-to-Tangible-Book compare to DBRG and WT?
According to the Asset Management industry distribution chart, Hercules Capital ranks #1200 out of 1531 companies for Price-to-Tangible-Book. This places Hercules Capital in the lower half of its industry. The industry median Price-to-Tangible-Book is 0.96. Hercules Capital's value of 1.39 is 44.8% above this benchmark. Historically, Hercules Capital's own Price-to-Tangible-Book has ranged from 0.77 to 1.79 over the past decade. While the company's 10-year median is 1.34 vs. the industry median of 0.96, 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 Price-to-Tangible-Book for an Asset Management company?
The median Price-to-Tangible-Book among Asset Management companies is 0.96, based on 1,531 companies in the industry. Companies in the top quartile (top 25%) have a Price-to-Tangible-Book significantly above this median, while those in the bottom quartile fall well below. However, Price-to-Tangible-Book should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Hercules Capital's current Price-to-Tangible-Book of 1.39 is 44.8% 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 Price-to-Tangible-Book mean?
A high Price-to-Tangible-Book can signal that a stock is expensive relative to its fundamentals. Price-to-tangible-book ratio is the ratio of share price to a company's tangible book value per share. View historical data on Hercules Capital and its competitors. For the Asset Management industry, the median Price-to-Tangible-Book is 0.96 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hercules Capital's current Price-to-Tangible-Book is 1.39, which is near median its own 10-year median of 1.34. 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 $19.18, compared to a current price of $16.93 — trading 11.7% below its estimated fair value. The current Price-to-Tangible-Book is 1.39, which is near median its 10-year median of 1.34 and 44.8% above the Asset Management industry median of 0.96. Hercules Capital's overall GF Score™ is 64/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Price-to-Tangible-Book calculated?
Price-to-Tangible-Book is calculated from a company's financial statements. For Hercules Capital (HTGC), the current Price-to-Tangible-Book is 1.39 as of Aug. 13, 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 $16.93 is trading 11.7% below its estimated GF Value™ of $19.18.
GuruFocus considers Hercules Capital to be Modestly Undervalued.
Key valuation signals for HTGC:
Price-to-Tangible-Book: 1.39 (near median its 10-year median of 1.34)
GF Value™: $19.18 vs. price of $16.93 (11.7% below fair value)
Industry Position: 44.8% above the Asset Management median (#1200 of 1531)
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.
64GF Score
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