Overview Dividends

(TCPC) BlackRock TCP Capital - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US09259E1082

Loans, Debt, Mezzanine, Equity

EPS (Earnings per Share)

EPS Growth (3y CAGR): -6.94%
EPS Trend (3y Corr): -54.4%

Last SUE: 0.12σ
Qual. Beats: 0

Revenue

Revenue Growth (3y CAGR): 2.91%
Revenue Trend (3y Corr): -30.2%

Last SUE: 0.00σ
Qual. Beats: 0

Risk via 10d forecast
Volatility	25.7%
Value at Risk 5%th	40.1%
Relative Tail Risk	-5.30%

Reward TTM
Sharpe Ratio	-0.96
Alpha	-36.43

Character TTM
Hurst Exponent	0.477
Beta	0.722
Beta Downside	0.931

Drawdowns 3y
Max DD	43.55%
Mean DD	17.10%
Median DD	16.17%

Description: TCPC BlackRock TCP Capital October 22, 2025

BlackRock TCP Capital Corp. (NASDAQ:TCPC) operates as a Business Development Company (BDC) that concentrates on direct equity and debt placements in U.S. middle-market firms. Typical commitments range from $10 million to $35 million into companies valued between $100 million and $1.5 billion, with a clear preference for equity stakes that provide ownership control. Its sector coverage is broad, spanning communication services, retail, energy, healthcare, biotech, and a variety of technology and industrial niches.

According to the most recent 10-K (filed 2024-02), TCPC reported assets under management of roughly $1.2 billion and a net asset value (NAV) per share of $23.45, delivering a dividend yield of about 7.9 %-a figure that remains attractive in a low-growth rate environment. Two macro-level drivers are especially relevant: (1) the prevailing low-interest-rate backdrop, which reduces financing costs for leveraged middle-market transactions and supports the BDC’s debt-heavy strategy; and (2) a rebound in U.S. M&A activity in sectors like healthcare and technology, which expands deal flow and potential exit opportunities for TCPC’s portfolio companies.

If you want a deeper, data-driven look at how TCPC’s valuation metrics compare to peers, a quick browse of ValueRay’s analytics dashboard can provide the context you need.

TCPC Stock Overview

Market Cap in USD	493m
Sub-Industry	Asset Management & Custody Banks
IPO / Inception	2012-04-04
Return 12m vs S&P 500	-36.3%
Analyst Rating	2.60 of 5

TCPC Dividends

Metric	Value
Dividend Yield	21.06%
Yield on Cost 5y	18.25%
Yield CAGR 5y	2.55%
Payout Consistency	94.9%
Payout Ratio	133.7%

TCPC Growth Ratios

Metric	Value
CAGR 3y	-15.14%
CAGR/Max DD Calmar Ratio	-0.35
CAGR/Mean DD Pain Ratio	-0.89
Current Volume	547.3k
Average Volume	557.4k

Piotroski VR‑10 (Strict, 0-10) 2.5

Net Income (-9.19m TTM) > 0 and > 6% of Revenue (6% = 4.50m TTM)

FCFTA 0.10 (>2.0%) and ΔFCFTA -2.27pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 102.7% (prev 135.7%; Δ -33.01pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.10 (>3.0%) and CFO 186.0m > Net Income -9.19m (YES >=105%, WARN >=100%)

NO Net Debt/EBITDA fails (EBITDA <= 0)

Current Ratio 10.17 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (85.0m) change vs 12m ago -0.65% (target <= -2.0% for YES)

Gross Margin 35.07% (prev 26.85%; Δ 8.22pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 3.89% (prev 4.33%; Δ -0.44pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio -0.50 (EBITDA TTM -33.0m / Interest Expense TTM 65.5m) >= 6 (WARN >= 3)

Altman Z'' -2.59

(A) 0.04 = (Total Current Assets 85.5m - Total Current Liabilities 8.41m) / Total Assets 1.81b

(B) -0.55 = Retained Earnings (Balance) -990.7m / Total Assets 1.81b

(D) -0.93 = Book Value of Equity -990.6m / Total Liabilities 1.07b

Total Rating: -2.59 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 42.22

1. Piotroski 2.50pt = -2.50

2. FCF Yield 12.00% = 5.0

3. FCF Margin data missing

4. Debt/Equity 1.51 = 1.46

5. Debt/Ebitda 1.85 = 0.30

6. ROIC - WACC (= -5.49)% = -6.86

7. RoE -1.21% = -0.20

8. Rev. Trend -30.16% = -2.26

9. EPS Trend -54.39% = -2.72

What is the price of TCPC shares?

As of November 18, 2025, the stock is trading at USD 5.65 with a total of 547,334 shares traded.
Over the past week, the price has changed by -0.35%, over one month by +1.25%, over three months by -16.98% and over the past year by -27.07%.

Is TCPC a buy, sell or hold?

BlackRock TCP Capital has received a consensus analysts rating of 2.60. Therefor, it is recommend to hold TCPC.

Strong Buy: 0
Buy: 0
Hold: 4
Sell: 0
Strong Sell: 1

What are the forecasts/targets for the TCPC price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	6.5	15%
Analysts Target Price	6.5	15%
ValueRay Target Price	6.4	12.7%

TCPC Fundamental Data Overview November 17, 2025

Market Cap USD = 492.9m (492.9m USD * 1.0 USD.USD)
P/E Forward = 5.7339
P/S = 2.2496
P/B = 0.6638
P/EG = 0.8818
Beta = 0.903
Revenue TTM = 75.0m USD
EBIT TTM = -33.0m USD
EBITDA TTM = -33.0m USD
Long Term Debt = unknown (none)
Short Term Debt = 92.0m USD (from shortTermDebt, last fiscal year)
Debt = 1.12b USD (from shortLongTermDebtTotal, last fiscal year)
Net Debt = -61.0m USD (from netDebt column, last quarter)
Enterprise Value = 1.55b USD (492.9m + Debt 1.12b - CCE 61.0m)
Interest Coverage Ratio = -0.50 (Ebit TTM -33.0m / Interest Expense TTM 65.5m)
FCF Yield = 12.00% (FCF TTM 186.0m / Enterprise Value 1.55b)
FCF Margin = 247.9% (FCF TTM 186.0m / Revenue TTM 75.0m)
Net Margin = -12.25% (Net Income TTM -9.19m / Revenue TTM 75.0m)
Gross Margin = 35.07% ((Revenue TTM 75.0m - Cost of Revenue TTM 48.7m) / Revenue TTM)
Gross Margin QoQ = 100.0% (prev -582.8%)
Tobins Q-Ratio = 0.86 (Enterprise Value 1.55b / Total Assets 1.81b)
Interest Expense / Debt = 1.50% (Interest Expense 16.8m / Debt 1.12b)
Taxrate = -0.83% (negative due to tax credits) (522.6k / -62.6m)
NOPAT = -33.3m (EBIT -33.0m * (1 - -0.83%)) [loss with tax shield] [negative tax rate / tax credits]
Current Ratio = 10.17 (Total Current Assets 85.5m / Total Current Liabilities 8.41m)
Debt / Equity = 1.51 (Debt 1.12b / totalStockholderEquity, last quarter 740.0m)
Debt / EBITDA = 1.85 (negative EBITDA) (Net Debt -61.0m / EBITDA -33.0m)
Debt / FCF = -0.33 (Net Debt -61.0m / FCF TTM 186.0m)
Total Stockholder Equity = 761.7m (last 4 quarters mean from totalStockholderEquity)
RoA = -0.51% (Net Income -9.19m / Total Assets 1.81b)
RoE = -1.21% (Net Income TTM -9.19m / Total Stockholder Equity 761.7m)
RoCE = -1.83% (EBIT -33.0m / Capital Employed (Total Assets 1.81b - Current Liab 8.41m))
RoIC = -1.78% (negative operating profit) (NOPAT -33.3m / Invested Capital 1.87b)
WACC = 3.71% (E(492.9m)/V(1.61b) * Re(8.68%) + D(1.12b)/V(1.61b) * Rd(1.50%) * (1-Tc(-0.01)))
Discount Rate = 8.68% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 21.33%
[DCF Debug] Terminal Value 78.02% ; FCFE base≈214.4m ; Y1≈245.9m ; Y5≈343.4m
Fair Price DCF = 62.04 (DCF Value 5.26b / Shares Outstanding 84.8m; 5y FCF grow 17.22% → 3.0% )
EPS Correlation: -54.39 | EPS CAGR: -6.94% | SUE: 0.12 | # QB: 0
Revenue Correlation: -30.16 | Revenue CAGR: 2.91% | SUE: -0.00 | # QB: 0

Additional Sources for TCPC Stock

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