TCPC

BlackRock TCP Capital Corp.

Fundamental data last updated:August 13, 2026

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company profile

SECTOR

Financial Services

industry

Asset Management

Exchange

NASDAQ

County of HQ

US

Next Earnings Date

Pending Announcement

Business Summary

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals. It seeks to invest in the United States. The fund typically invests between $10 million and $35 million in companies with enterprise values between $100 million and $1500 million including complex situations. It prefers to make equity investments in companies for an ownership stake.

 


VALUATION

P/E

-2.58

Market Cap ($M USD)

$323.86M

Forward P/E

6.60

PEG

0.05

PRICE TO SALES

13.25

PRICE TO BOOK

0.58

EV / EBITDA

-12.18

5-Year Average P/E

Free Cash Flow Yield

44.68%

DCF Value

$-11.00

Graham Number

N/A

Price to FCF

2.24

EV to FCF

7.99

Earnings Yield

-38.74%

FCF Yield

44.68%

DIVIDEND

Yield

25.91%

Annual Payout

$1.00

Payout Ratio

-67.25%

Consecutive Years of Dividend Growth

5-Year Dividend Growth Rate

Financial Health & Profitability

Earnings Per Share

-$1.50

Next Year EPS Growth Estimate

$0.59

Next Year Revenue Growth Estimate

$124.01M

Return on Equity (ROE)

-19.08%

FREE CASH FLOW

Operating Margin

-385.66%

Debt-to-Equity

1.73

Piotroski F-Score

4

Altman Z-Score

-0.99

Return on Invested Capital (ROIC)

-6.32%

Current Ratio

6.35

Quick Ratio

6.35

Net Debt to EBITDA

-8.77

Interest Coverage

-1.45

Gross Profit margin

-76.52%

FCF PER SHARE

$1.72

REVENUE PER SHARE

$0.29

Gainseekers Quantitative Analysis

Summary

The market’s valuation of TCPC is a paradox. Despite a Forward P/E of 7.29 suggesting potential value, the negative DCF Value and Graham Number indicate severe mispricing. The Altman Z-score of 0.15 screams financial distress, while the negative Earnings Yield further underscores profitability concerns. With a Price/Book ratio of 0.63, the stock appears undervalued, yet the negative ROIC and operating margins paint a grim picture of management’s execution. This is a high-risk play, with the market pricing in significant uncertainty.

AI Exposure / Tech Reliance

Operating within the asset management industry, TCPC faces challenges in adapting to AI and tech shifts. However, its sector's reliance on data analytics and algorithmic trading offers potential for tech integration. The company's ability to leverage these technologies could determine its future resilience.

The Bull Case

For the bold investor, TCPC offers intriguing prospects. The FCF Yield of 0.74% and a Piotroski F-Score of 5 suggest some underlying financial health. Despite negative margins, the company’s ability to generate free cash flow indicates potential for capital efficiency. A contrarian might see the low Price/Book ratio as a sign of untapped value, betting on a turnaround in profitability.

The Bear Case

The bear case is compelling. TCPC's negative operating margin of -164.46% and ROE of -16.62% highlight severe operational inefficiencies. Trading near its 52-week high, the stock appears technically overextended. The negative EPS and interest coverage ratio further emphasize the company's precarious financial position, casting doubt on its ability to sustain dividends or growth.

Market Sentiment & Smart Money

Short Interest %

Analyst Consensus

Hold

Average Analyst Price Target

$8.00

Institutional Ownership %

1-Year Beta

1.03

Insider Buying % (6 Mo)

Distance to 52-Week High

108.81%

Distance to 52-Week Low

11.14%

EARNINGS SURPRISE %

5.00%

50-DAY SMA

$3.97

200-DAY SMA

$5.28

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.