Hercules CapitalHTGC +0.45%60 Return-on-Tangible-Asset is 3.61% as of Mar. 2026, which is 48% below its 10-year median of 6.97. GuruFocus rates HTGC with a GF Score™ of 60/100 and a GF Value™ of $18.45 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 1,632 Asset Management companies, Hercules Capital ranks better than 64.58% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Hercules Capital's annualizedNet Income for the quarter that ended in Mar. 2026 was $170.0 Mil. Hercules Capital's average total tangible assets for the quarter that ended in Mar. 2026 was $4,705.2 Mil. Therefore, Hercules Capital's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 3.61%.
The historical rank and industry rank for Hercules Capital's Return-on-Tangible-Asset or its related term are showing as below:
HTGC'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 3.63 Med: 6.97 Max: 10.47
Current: 7.5
During the past 13 years, Hercules Capital's highest Return-on-Tangible-Asset was 10.47%. The lowest was 3.63%. And the median was 6.97%.
HTGC's Return-on-Tangible-Asset is ranked better than 64.58% of 1632
companies
in the Asset Management industry
Industry Median: 4.075
vs HTGC: 7.50
Hercules Capital (NYSE:HTGC) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Hercules Capital Return-on-Tangible-Asset Related Terms
Hercules Capital Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Hercules Capital's Return-on-Tangible-Asset 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: Return-on-Tangible-Asset Comparison
For the Asset Management subindustry, Hercules Capital's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Hercules Capital's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Hercules Capital's Return-on-Tangible-Asset 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 3.61% mean?
Hercules Capital (HTGC) has a Return-on-Tangible-Asset of 3.61% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Hercules Capital and its competitors. This is 48% below median its historical median of 6.97. Over the past decade, Hercules Capital's Return-on-Tangible-Asset has ranged from 3.63 to 10.47. According to the industry distribution chart, Hercules Capital ranks #578 out of 1632 companies in the Asset Management industry, placing it in the top 35.4%.
Is Hercules Capital's Return-on-Tangible-Asset too high?
Hercules Capital's current Return-on-Tangible-Asset of 3.61% is 48% below median its 10-year median of 6.97. Over the past 10 years, this metric has ranged from a low of 3.63 to a high of 10.47. The Asset Management industry median Return-on-Tangible-Asset is 4.08. Hercules Capital's value of 3.61% is 11.4% below this industry median. Based on the distribution chart, Hercules Capital ranks #578 out of 1632 companies in the Asset Management industry, which is above the industry midpoint. 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 Return-on-Tangible-Asset compare to JPC and FSK?
According to the Asset Management industry distribution chart, Hercules Capital ranks #578 out of 1632 companies for Return-on-Tangible-Asset. This puts Hercules Capital in the upper half of its industry. The industry median Return-on-Tangible-Asset is 4.08. Hercules Capital's value of 3.61% is 11.4% below this benchmark. Historically, Hercules Capital's own Return-on-Tangible-Asset has ranged from 3.63 to 10.47 over the past decade. While the company's 10-year median is 6.97 vs. the industry median of 4.08, Hercules Capital has consistently been below 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 Return-on-Tangible-Asset for an Asset Management company?
The median Return-on-Tangible-Asset among Asset Management companies is 4.08, based on 1,632 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Hercules Capital's current Return-on-Tangible-Asset of 3.61% is 11.4% below 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Hercules Capital and its competitors. For the Asset Management industry, the median Return-on-Tangible-Asset is 4.08 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hercules Capital's current Return-on-Tangible-Asset is 3.61%, which is 48% below median its own 10-year median of 6.97. 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 $18.45, compared to a current price of $15.65 — trading 15.2% below its estimated fair value. The current Return-on-Tangible-Asset is 3.61%, which is 48% below median its 10-year median of 6.97 and 11.4% below the Asset Management industry median of 4.08. 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 Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Hercules Capital (HTGC), the current Return-on-Tangible-Asset is 3.61% 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 $15.65 is trading 15.2% below its estimated GF Value™ of $18.45.
GuruFocus considers Hercules Capital to be Modestly Undervalued.
Key valuation signals for HTGC:
Return-on-Tangible-Asset: 3.61% (48% below median its 10-year median of 6.97)
GF Value™: $18.45 vs. price of $15.65 (15.2% below fair value)
Industry Position: 11.4% below the Asset Management median (#578 of 1632)
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
Get the complete analysis for HTGC
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
HTGC has been successfully added to your 
