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Coupon, PIK at other companies

Capital Southwest logo
Capital SouthwestCSWC
15.7%+3.7pp
Trinity Capital logo
Trinity CapitalTRIN
1.5%0.0pp
Blackstone Secured Lending Fund logo
Blackstone Secured Lending FundBXSL
10.7%+8.1pp
MidCap Financial Investment Corporation logo
MidCap Financial Investment CorporationMFIC
6%-2.0pp

Other financials

Income statement

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Net income$42.5M-15.6%
EPS (diluted)$0.23-20.7%

Balance sheet

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Cash & equivalents$44.9M-17.3%
Total debt$2.6B+28.1%
Total equity$2.2B+11.3%
Total assets$4.8B+19.7%

Cash flow

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Operating cash flow-$230.6M-3.8%
CapEx$19.0K+138%
Free cash flow-$230.7M-3.8%

Valuation

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Market cap$3.23B-9.0%
Enterprise value$5.74B+3.0%
P/E9.7×-3.9×

Returns & leverage

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Return on equity15.7%+4.3pp
Debt / equity1.1×+0.2×

Where this comes from

Reported directly by Hercules Capital in its filing.

Tagged under the XBRL concept us-gaap:InvestmentInterestRatePaidInKind.

The source filing: Hercules Capital’s 10-Q, filed May 5, 2026.

Filed
May 5, 2026, 4:17 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001280784-26-000027

| Control Investments | | | | | | | | | Majority Owned Control Investments | | | | | | | | | Coronado Aesthetics, LLC | Medical Devices & Equipment | Preferred Series A-2 | | | 5,000,000 | $250 | $218 | | | Medical Devices & Equipment | Common Units | | | 180,000 | — | — | | Total Coronado Aesthetics, LLC | | | | | | $250 | $218 | | Gibraltar Acquisition LLC(3) | Diversified Financial Services | Unsecured Debt | July 2029 | FIXED 3.45%, PIK Interest 8.05% | $28,805 | 28,412 | 28,412 | | | Diversified Financial Services | Unsecured Debt | July 2029 | FIXED 11.95% | $10,000 | 9,843 | 9,843 | | | Diversified Financial Services | Member Units | | | 1 | 32,456 | 23,963 | | Total Gibraltar Acquisition LLC | | | | | | $70,711 | $62,218 | | Hercules Adviser LLC(4) | Diversified Financial Services | Member Units | | | 1 | 12,035 | 43,274 |

Item 6. Exhibits and Financial Statement Schedules

FAQ

What is Hercules Capital's coupon, PIK?
Hercules Capital (HTGC) reported coupon, PIK of 10% in Q1 2026.
How has Hercules Capital's coupon, PIK changed year-over-year?
Hercules Capital's coupon, PIK increased by 699.2% year-over-year, from 1.3% to 10%.
What is the long-term trend for Hercules Capital's coupon, PIK?
Over 3 years (2022 to 2025), Hercules Capital's coupon, PIK has grown at a 115.4% compound annual growth rate (CAGR), from 1% to 10%.
What does coupon, PIK mean?
Paid-in-Kind (PIK) interest refers to interest that is added to the principal balance of a loan rather than being paid in cash during the period. This metric highlights the portion of investment income that is non-cash, which can impact the company's immediate liquidity and cash flow profile. Investors monitor PIK levels to assess the quality of earnings and the credit health of portfolio companies.

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