Hercules Capital Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	310.35	262.97	337.48	102.08	174.16	227.26
Depreciation & Amortization	0.35	0.47	0.19	0.2	0.32	0.42
Other Amortization	8.66	6.96	6.98	5.67	7.04	5.83
Loss (Gain) From Sale of Assets	-6.88	-4.64	-6.94	-4.7	-3.84	-4.36
Loss (Gain) From Sale of Investments	25.25	62.7	-33.45	82.3	-28.61	-70.12
Stock-Based Compensation	14.27	12.49	11.93	10.83	10.39	8.47
Other Operating Activities	-749.01	-474.44	-230.75	-604.96	-44.22	34.56
Change in Accounts Receivable	-5.51	0.06	-1.05	-14.21	1.71	1.13
Change in Accounts Payable	-	-	-	-	-	-0.02
Change in Other Net Operating Assets	3.1	15.36	-16.12	-2.01	11.68	4.63
Operating Cash Flow	-399.44	-118.09	68.28	-424.8	128.62	207.8
Operating Cash Flow Growth	-	-	-	-	-38.10%	-
Capital Expenditures	-0.06	-0.71	-0.89	-0.11	-0.11	-0.14
Investing Cash Flow	-0.06	-0.71	-0.89	-0.11	-0.11	-0.14
Long-Term Debt Issued	-	1,332	659	1,274	1,737	824.47
Long-Term Debt Repaid	-	-1,119	-683	-931.2	-1,787	-827.41
Net Debt Issued (Repaid)	411.16	213.63	-24	343.04	-50.07	-2.93
Issuance of Common Stock	344.51	220.88	344.35	232.09	10.83	77.48
Repurchase of Common Stock	-6.5	-3.43	-12.7	-4.53	-2.82	-1.84
Common Dividends Paid	-270.33	-251.44	-226.83	-169.32	-145.38	-152.42
Other Financing Activities	-22.25	-8.4	-11.22	-10.95	-12.32	-5.33
Financing Cash Flow	405.97	119.2	22.75	314.52	-229.87	-85.04
Net Cash Flow	6.47	0.41	90.14	-110.39	-101.36	122.63
Free Cash Flow	-399.5	-118.79	67.39	-424.91	128.52	207.67
Free Cash Flow Growth	-	-	-	-	-38.11%	-
Free Cash Flow Margin	-77.30%	-24.07%	14.63%	-132.09%	45.74%	72.29%
Free Cash Flow Per Share	-2.21	-0.73	0.47	-3.35	1.11	1.85
Cash Interest Paid	80.42	77.85	67.15	52.08	51.47	58.27
Cash Income Tax Paid	6.41	5.25	5.27	7.38	3.76	2.46
Levered Free Cash Flow	218.13	248.62	198.06	114.88	161.75	133.73
Unlevered Free Cash Flow	270.12	295.39	239.49	148.18	194.15	169.71
Change in Working Capital	-2.42	15.42	-17.17	-16.23	13.4	5.74

Source: S&P Global Market Intelligence. Standard template. Financial Sources.