(TCPC) BlackRock TCP Capital - Overview
Exchange: NASDAQ •
Country: United States •
Currency: USD •
Type: Common Stock •
ISIN: US09259E1082
Senior Loans, Mezzanine Debt, Equity Stakes, Middle-Market
Total Rating 19
Risk -
Buy Signal -1.63
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 14.77% |
| Yield on Cost 5y | 15.17% |
| Yield CAGR 5y | -4.46% |
| Payout Consistency | 92.9% |
| Payout Ratio | 112.4% |
| Risk 5d forecast | |
|---|---|
| Volatility | 61.4% |
| Relative Tail Risk | -7.96% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -1.31 |
| Alpha | -48.93 |
| Character TTM | |
|---|---|
| Beta | 0.700 |
| Beta Downside | 0.860 |
| Drawdowns 3y | |
|---|---|
| Max DD | 44.92% |
| CAGR/Max DD | -0.38 |
Description: TCPC BlackRock TCP Capital December 25, 2025
BlackRock TCP Capital Corp. (NASDAQ: TCPC) is a Business Development Company (BDC) that focuses on direct equity and debt placements in U.S. middle-market companies, typically deploying $10 million–$35 million of debt into firms with enterprise values of $100 million–$1.5 billion. The firm’s sector coverage is broad, spanning communications, retail, energy, healthcare, biotech, engineering, and technology-related services, and it prefers equity stakes when opportunities arise.
As of the most recent filing, TCPC reported a net asset value (NAV) of roughly $1.2 billion and a dividend yield near 8%, reflecting the higher-yield mandate common to BDCs. The company’s leverage ratio sits around 1.5 × EBITDA, aligning with industry norms that balance income generation against credit risk. Current macro drivers-such as the Federal Reserve’s policy tightening and a tightening credit market-have heightened demand for private-credit solutions among middle-market firms that face constrained bank financing.
For a deeper, data-driven view of TCPC’s valuation metrics and risk profile, you might explore the analytics on ValueRay to see how its fundamentals stack up against peers.
Piotroski VR‑10 (Strict, 0-10) 1.5
| Net Income: -9.19m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.07 > 0.02 and ΔFCF/TA -5.09 > 1.0 |
| NWC/Revenue: 115.7% < 20% (prev 135.7%; Δ -19.97% < -1%) |
| CFO/TA 0.07 > 3% & CFO 135.0m > Net Income -9.19m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 10.17 > 1.5 & < 3 |
| Outstanding Shares: last quarter (85.0m) vs 12m ago -0.65% < -2% |
| Gross Margin: 1.57% > 18% (prev 0.27%; Δ 130.0% > 0.5%) |
| Asset Turnover: 3.45% > 50% (prev 4.33%; Δ -0.88% > 0%) |
| Interest Coverage Ratio: -0.13 > 6 (EBITDA TTM -8.67m / Interest Expense TTM 65.5m) |
Altman Z'' -2.51
| A: 0.04 (Total Current Assets 85.5m - Total Current Liabilities 8.41m) / Total Assets 1.81b |
| B: -0.55 (Retained Earnings -990.7m / Total Assets 1.81b) |
| C: -0.00 (EBIT TTM -8.67m / Avg Total Assets 1.93b) |
| D: -0.93 (Book Value of Equity -990.6m / Total Liabilities 1.07b) |
| Altman-Z'' Score: -2.51 = D |
What is the price of TCPC shares?
As of January 29, 2026, the stock is trading at USD 5.15 with a total of 859,462 shares traded.
Over the past week, the price has changed by -12.27%, over one month by -4.10%, over three months by -8.52% and over the past year by -36.02%.
Over the past week, the price has changed by -12.27%, over one month by -4.10%, over three months by -8.52% and over the past year by -36.02%.
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.
- StrongBuy: 0
- Buy: 0
- Hold: 4
- Sell: 0
- StrongSell: 1
What are the forecasts/targets for the TCPC price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 6.5 | 26.2% |
| Analysts Target Price | 6.5 | 26.2% |
| ValueRay Target Price | 5.4 | 5% |
TCPC Fundamental Data Overview January 27, 2026
P/E Forward = 5.8005
P/S = 2.2689
P/B = 0.6718
P/EG = 0.8818
Revenue TTM = 66.6m USD
EBIT TTM = -8.67m USD
EBITDA TTM = -8.67m 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 (497.2m + Debt 1.12b - CCE 61.0m)
Interest Coverage Ratio = -0.13 (Ebit TTM -8.67m / Interest Expense TTM 65.5m)
EV/FCF = 11.52x (Enterprise Value 1.55b / FCF TTM 135.0m)
FCF Yield = 8.68% (FCF TTM 135.0m / Enterprise Value 1.55b)
FCF Margin = 202.7% (FCF TTM 135.0m / Revenue TTM 66.6m)
Net Margin = -13.81% (Net Income TTM -9.19m / Revenue TTM 66.6m)
Gross Margin = 1.57% ((Revenue TTM 66.6m - Cost of Revenue TTM 65.5m) / Revenue TTM)
Gross Margin QoQ = 60.02% (prev none%)
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 = 21.0% (US default 21%)
NOPAT = -6.85m (EBIT -8.67m * (1 - 21.00%)) [loss with tax shield]
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 = 7.03 (negative EBITDA) (Net Debt -61.0m / EBITDA -8.67m)
Debt / FCF = -0.45 (Net Debt -61.0m / FCF TTM 135.0m)
Total Stockholder Equity = 761.7m (last 4 quarters mean from totalStockholderEquity)
RoA = -0.48% (Net Income -9.19m / Total Assets 1.81b)
RoE = -1.21% (Net Income TTM -9.19m / Total Stockholder Equity 761.7m)
RoCE = -0.48% (EBIT -8.67m / Capital Employed (Total Assets 1.81b - Current Liab 8.41m))
RoIC = -0.37% (negative operating profit) (NOPAT -6.85m / Invested Capital 1.87b)
WACC = 3.44% (E(497.2m)/V(1.62b) * Re(8.49%) + D(1.12b)/V(1.62b) * Rd(1.50%) * (1-Tc(0.21)))
Discount Rate = 8.49% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 21.33%
[DCF Debug] Terminal Value 87.23% ; FCFF base≈183.8m ; Y1≈202.2m ; Y5≈259.1m
Fair Price DCF = 90.87 (EV 7.65b - Net Debt -61.0m = Equity 7.71b / Shares 84.8m; r=5.90% [WACC]; 5y FCF grow 11.50% → 2.90% )
EPS Correlation: -53.18 | EPS CAGR: -21.52% | SUE: -1.46 | # QB: 0
Revenue Correlation: -38.29 | Revenue CAGR: 1.63% | SUE: -0.11 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.24 | Chg30d=+0.003 | Revisions Net=+0 | Analysts=4
EPS next Year (2026-12-31): EPS=0.89 | Chg30d=-0.033 | Revisions Net=+0 | Growth EPS=-29.2% | Growth Revenue=-13.4%
P/S = 2.2689
P/B = 0.6718
P/EG = 0.8818
Revenue TTM = 66.6m USD
EBIT TTM = -8.67m USD
EBITDA TTM = -8.67m 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 (497.2m + Debt 1.12b - CCE 61.0m)
Interest Coverage Ratio = -0.13 (Ebit TTM -8.67m / Interest Expense TTM 65.5m)
EV/FCF = 11.52x (Enterprise Value 1.55b / FCF TTM 135.0m)
FCF Yield = 8.68% (FCF TTM 135.0m / Enterprise Value 1.55b)
FCF Margin = 202.7% (FCF TTM 135.0m / Revenue TTM 66.6m)
Net Margin = -13.81% (Net Income TTM -9.19m / Revenue TTM 66.6m)
Gross Margin = 1.57% ((Revenue TTM 66.6m - Cost of Revenue TTM 65.5m) / Revenue TTM)
Gross Margin QoQ = 60.02% (prev none%)
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 = 21.0% (US default 21%)
NOPAT = -6.85m (EBIT -8.67m * (1 - 21.00%)) [loss with tax shield]
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 = 7.03 (negative EBITDA) (Net Debt -61.0m / EBITDA -8.67m)
Debt / FCF = -0.45 (Net Debt -61.0m / FCF TTM 135.0m)
Total Stockholder Equity = 761.7m (last 4 quarters mean from totalStockholderEquity)
RoA = -0.48% (Net Income -9.19m / Total Assets 1.81b)
RoE = -1.21% (Net Income TTM -9.19m / Total Stockholder Equity 761.7m)
RoCE = -0.48% (EBIT -8.67m / Capital Employed (Total Assets 1.81b - Current Liab 8.41m))
RoIC = -0.37% (negative operating profit) (NOPAT -6.85m / Invested Capital 1.87b)
WACC = 3.44% (E(497.2m)/V(1.62b) * Re(8.49%) + D(1.12b)/V(1.62b) * Rd(1.50%) * (1-Tc(0.21)))
Discount Rate = 8.49% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 21.33%
[DCF Debug] Terminal Value 87.23% ; FCFF base≈183.8m ; Y1≈202.2m ; Y5≈259.1m
Fair Price DCF = 90.87 (EV 7.65b - Net Debt -61.0m = Equity 7.71b / Shares 84.8m; r=5.90% [WACC]; 5y FCF grow 11.50% → 2.90% )
EPS Correlation: -53.18 | EPS CAGR: -21.52% | SUE: -1.46 | # QB: 0
Revenue Correlation: -38.29 | Revenue CAGR: 1.63% | SUE: -0.11 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.24 | Chg30d=+0.003 | Revisions Net=+0 | Analysts=4
EPS next Year (2026-12-31): EPS=0.89 | Chg30d=-0.033 | Revisions Net=+0 | Growth EPS=-29.2% | Growth Revenue=-13.4%