BLACKROCK TCP CAPITAL CORP (TCPC) Fundamental Analysis & Valuation

NASDAQ:TCPC • US09259E1082

3.76 USD
-0.04 (-1.05%)
At close: Mar 10, 2026
3.81 USD
+0.05 (+1.33%)
Pre-Market: 3/11/2026, 8:29:15 AM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership News

This TCPC fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

4

Taking everything into account, TCPC scores 4 out of 10 in our fundamental rating. TCPC was compared to 242 industry peers in the Capital Markets industry. TCPC has an average financial health and profitability rating. TCPC is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

4

1. TCPC Profitability Analysis

1.1 Basic Checks

  • TCPC had positive earnings in the past year.
  • In the past year TCPC had a positive cash flow from operations.
  • The reported net income has been mixed in the past 5 years: TCPC reported negative net income in multiple years.
  • Of the past 5 years TCPC 4 years had a positive operating cash flow.
TCPC Yearly Net Income VS EBIT VS OCF VS FCFTCPC Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100M -100M 200M

1.2 Ratios

  • TCPC's Return On Assets of -5.39% is on the low side compared to the rest of the industry. TCPC is outperformed by 80.99% of its industry peers.
  • TCPC has a Return On Equity of -14.87%. This is in the lower half of the industry: TCPC underperforms 78.10% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 5.31%, TCPC is in the better half of the industry, outperforming 70.25% of the companies in the same industry.
  • TCPC had an Average Return On Invested Capital over the past 3 years of 5.27%. This is in line with the industry average of 7.06%.
  • The 3 year average ROIC (5.27%) for TCPC is below the current ROIC(5.31%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA -5.39%
ROE -14.87%
ROIC 5.31%
ROA(3y)-2.14%
ROA(5y)0.02%
ROE(3y)-5.77%
ROE(5y)-0.48%
ROIC(3y)5.27%
ROIC(5y)4.61%
TCPC Yearly ROA, ROE, ROICTCPC Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10

1.3 Margins

  • Looking at the Operating Margin, with a value of 54.42%, TCPC belongs to the top of the industry, outperforming 92.98% of the companies in the same industry.
  • In the last couple of years the Operating Margin of TCPC has grown nicely.
  • The Gross Margin of TCPC (55.87%) is better than 65.29% of its industry peers.
  • TCPC's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 54.42%
PM (TTM) N/A
GM 55.87%
OM growth 3Y3.68%
OM growth 5Y2.4%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-3.91%
GM growth 5Y-1.89%
TCPC Yearly Profit, Operating, Gross MarginsTCPC Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 -20 40 -40 60 80

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

5

2. TCPC Health Analysis

2.1 Basic Checks

  • Compared to 1 year ago, TCPC has less shares outstanding
  • The number of shares outstanding for TCPC has been increased compared to 5 years ago.
  • Compared to 1 year ago, TCPC has a worse debt to assets ratio.
TCPC Yearly Shares OutstandingTCPC Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M
TCPC Yearly Total Debt VS Total AssetsTCPC Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B

2.2 Solvency

  • TCPC has an Altman-Z score of -0.40. This is a bad value and indicates that TCPC is not financially healthy and even has some risk of bankruptcy.
  • TCPC's Altman-Z score of -0.40 is on the low side compared to the rest of the industry. TCPC is outperformed by 82.23% of its industry peers.
  • TCPC has a debt to FCF ratio of 6.68. This is a slightly negative value and a sign of low solvency as TCPC would need 6.68 years to pay back of all of its debts.
  • TCPC has a better Debt to FCF ratio (6.68) than 65.29% of its industry peers.
  • A Debt/Equity ratio of 1.73 is on the high side and indicates that TCPC has dependencies on debt financing.
  • The Debt to Equity ratio of TCPC (1.73) is worse than 73.97% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.73
Debt/FCF 6.68
Altman-Z -0.4
ROIC/WACCN/A
WACCN/A
TCPC Yearly LT Debt VS Equity VS FCFTCPC Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M 400M 600M 800M 1B

2.3 Liquidity

  • TCPC has a Current Ratio of 4.13. This indicates that TCPC is financially healthy and has no problem in meeting its short term obligations.
  • Looking at the Current ratio, with a value of 4.13, TCPC belongs to the top of the industry, outperforming 85.95% of the companies in the same industry.
  • TCPC has a Quick Ratio of 4.13. This indicates that TCPC is financially healthy and has no problem in meeting its short term obligations.
  • With an excellent Quick ratio value of 4.13, TCPC belongs to the best of the industry, outperforming 85.95% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 4.13
Quick Ratio 4.13
TCPC Yearly Current Assets VS Current LiabilitesTCPC Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

1

3. TCPC Growth Analysis

3.1 Past

  • The earnings per share for TCPC have decreased strongly by -26.42% in the last year.
  • TCPC shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -3.39% yearly.
  • Looking at the last year, TCPC shows a very negative growth in Revenue. The Revenue has decreased by -22.22% in the last year.
  • TCPC shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 3.23% yearly.
EPS 1Y (TTM)-26.42%
EPS 3Y-8.35%
EPS 5Y-3.39%
EPS Q2Q%-44.44%
Revenue 1Y (TTM)-22.22%
Revenue growth 3Y3.69%
Revenue growth 5Y3.23%
Sales Q2Q%-28.3%

3.2 Future

  • Based on estimates for the next years, TCPC will show a very negative growth in Earnings Per Share. The EPS will decrease by -27.34% on average per year.
  • TCPC is expected to show a very negative growth in Revenue. In the coming years, the Revenue will decrease by -18.16% yearly.
EPS Next Y-27.64%
EPS Next 2Y-21.88%
EPS Next 3Y-27.34%
EPS Next 5YN/A
Revenue Next Year-11.34%
Revenue Next 2Y-8.63%
Revenue Next 3Y-18.16%
Revenue Next 5YN/A

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
TCPC Yearly Revenue VS EstimatesTCPC Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 50M 100M 150M 200M 250M
TCPC Yearly EPS VS EstimatesTCPC Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0.5 1 1.5

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Find the best growth stocksShow best growing peers

6

4. TCPC Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 3.21, the valuation of TCPC can be described as very cheap.
  • 92.98% of the companies in the same industry are more expensive than TCPC, based on the Price/Earnings ratio.
  • TCPC is valuated cheaply when we compare the Price/Earnings ratio to 26.25, which is the current average of the S&P500 Index.
  • With a Price/Forward Earnings ratio of 4.44, the valuation of TCPC can be described as very cheap.
  • TCPC's Price/Forward Earnings ratio is rather cheap when compared to the industry. TCPC is cheaper than 93.39% of the companies in the same industry.
  • TCPC is valuated cheaply when we compare the Price/Forward Earnings ratio to 24.39, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 3.21
Fwd PE 4.44
TCPC Price Earnings VS Forward Price EarningsTCPC Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • 93.39% of the companies in the same industry are more expensive than TCPC, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 2.05
EV/EBITDA N/A
TCPC Per share dataTCPC EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6

4.3 Compensation for Growth

  • TCPC's earnings are expected to decrease with -27.34% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-21.88%
EPS Next 3Y-27.34%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. TCPC Dividend Analysis

5.1 Amount

  • TCPC has a Yearly Dividend Yield of 17.13%, which is a nice return.
  • The stock price of TCPC dropped by -38.06% in the last 3 months. With lower prices the dividend yield is higher, but it may be a sign investors do not trust the long term dividend.
  • TCPC's Dividend Yield is rather good when compared to the industry average which is at 6.64. TCPC pays more dividend than 90.91% of the companies in the same industry.
  • TCPC's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 17.13%

5.2 History

  • The dividend of TCPC decreases each year by -3.11%.
  • TCPC has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)-3.11%
Div Incr Years0
Div Non Decr Years0
TCPC Yearly Dividends per shareTCPC Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5

5.3 Sustainability

  • The earnings of TCPC are negative and hence is the payout ratio. TCPC will probably not be able to sustain this dividend level.
  • The Dividend Rate of TCPC has been decling, while earnings will also be declining. This means the current dividend is most likely not sustainable.
DP-107.01%
EPS Next 2Y-21.88%
EPS Next 3Y-27.34%
TCPC Yearly Income VS Free CF VS DividendTCPC Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100M -100M 200M

More info and screens

Find the best dividend stocksShow peers with best dividend

TCPC Fundamentals: All Metrics, Ratios and Statistics

BLACKROCK TCP CAPITAL CORP

NASDAQ:TCPC (3/10/2026, 10:06:25 PM)

Premarket: 3.81 +0.05 (+1.33%)

3.76

-0.04 (-1.05%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)02-27
Earnings (Next)05-06
Inst Owners26.87%
Inst Owner Change0.82%
Ins Owners0.21%
Ins Owner Change0%
Market Cap317.08M
Revenue(TTM)201.79M
Net Income(TTM)-88.93M
Analysts46.67
Price Target6.63 (76.33%)
Short Float %4.98%
Short Ratio3.68
Dividend
Industry RankSector Rank
Dividend Yield 17.13%
Yearly Dividend1.12
Dividend Growth(5Y)-3.11%
DP-107.01%
Div Incr Years0
Div Non Decr Years0
Ex-Date03-17
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-10.59%
Min EPS beat(2)-22.6%
Max EPS beat(2)1.42%
EPS beat(4)2
Avg EPS beat(4)-5.51%
Min EPS beat(4)-22.6%
Max EPS beat(4)5.04%
EPS beat(8)3
Avg EPS beat(8)-5.03%
EPS beat(12)6
Avg EPS beat(12)-2.62%
EPS beat(16)9
Avg EPS beat(16)0.28%
Revenue beat(2)0
Avg Revenue beat(2)-6.6%
Min Revenue beat(2)-10.28%
Max Revenue beat(2)-2.91%
Revenue beat(4)0
Avg Revenue beat(4)-6.52%
Min Revenue beat(4)-10.28%
Max Revenue beat(4)-2.91%
Revenue beat(8)3
Avg Revenue beat(8)-3.19%
Revenue beat(12)6
Avg Revenue beat(12)-1.53%
Revenue beat(16)8
Avg Revenue beat(16)-0.64%
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 3.21
Fwd PE 4.44
P/S 1.57
P/FCF 2.05
P/OCF 2.05
P/B 0.53
P/tB 0.53
EV/EBITDA N/A
EPS(TTM)1.17
EY31.12%
EPS(NY)0.85
Fwd EY22.52%
FCF(TTM)1.84
FCFY48.86%
OCF(TTM)1.84
OCFY48.86%
SpS2.39
BVpS7.09
TBVpS7.09
PEG (NY)N/A
PEG (5Y)N/A
Graham Number13.66
Profitability
Industry RankSector Rank
ROA -5.39%
ROE -14.87%
ROCE 6.72%
ROIC 5.31%
ROICexc 5.51%
ROICexgc 5.59%
OM 54.42%
PM (TTM) N/A
GM 55.87%
FCFM 76.77%
ROA(3y)-2.14%
ROA(5y)0.02%
ROE(3y)-5.77%
ROE(5y)-0.48%
ROIC(3y)5.27%
ROIC(5y)4.61%
ROICexc(3y)5.55%
ROICexc(5y)4.82%
ROICexgc(3y)5.63%
ROICexgc(5y)4.89%
ROCE(3y)6.67%
ROCE(5y)5.83%
ROICexgc growth 3Y8.45%
ROICexgc growth 5Y6.16%
ROICexc growth 3Y8.43%
ROICexc growth 5Y6.08%
OM growth 3Y3.68%
OM growth 5Y2.4%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-3.91%
GM growth 5Y-1.89%
F-Score3
Asset Turnover0.12
Health
Industry RankSector Rank
Debt/Equity 1.73
Debt/FCF 6.68
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 1.84
Cash Conversion N/A
Profit Quality N/A
Current Ratio 4.13
Quick Ratio 4.13
Altman-Z -0.4
F-Score3
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-26.42%
EPS 3Y-8.35%
EPS 5Y-3.39%
EPS Q2Q%-44.44%
EPS Next Y-27.64%
EPS Next 2Y-21.88%
EPS Next 3Y-27.34%
EPS Next 5YN/A
Revenue 1Y (TTM)-22.22%
Revenue growth 3Y3.69%
Revenue growth 5Y3.23%
Sales Q2Q%-28.3%
Revenue Next Year-11.34%
Revenue Next 2Y-8.63%
Revenue Next 3Y-18.16%
Revenue Next 5YN/A
EBIT growth 1Y-16.98%
EBIT growth 3Y7.5%
EBIT growth 5Y5.71%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-47.15%
FCF growth 3Y-8.75%
FCF growth 5Y4.84%
OCF growth 1Y-47.15%
OCF growth 3Y-8.75%
OCF growth 5Y4.84%

BLACKROCK TCP CAPITAL CORP / TCPC FAQ

What is the fundamental rating for TCPC stock?

ChartMill assigns a fundamental rating of 4 / 10 to TCPC.


What is the valuation status for TCPC stock?

ChartMill assigns a valuation rating of 6 / 10 to BLACKROCK TCP CAPITAL CORP (TCPC). This can be considered as Fairly Valued.


What is the profitability of TCPC stock?

BLACKROCK TCP CAPITAL CORP (TCPC) has a profitability rating of 4 / 10.


Can you provide the financial health for TCPC stock?

The financial health rating of BLACKROCK TCP CAPITAL CORP (TCPC) is 5 / 10.


How sustainable is the dividend of BLACKROCK TCP CAPITAL CORP (TCPC) stock?

The dividend rating of BLACKROCK TCP CAPITAL CORP (TCPC) is 5 / 10 and the dividend payout ratio is -107.01%.