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TriplePoint Venture Growth
(NYSE:TPVG)
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Rating:64Neutral
Price Target:
$5.00
â–²(12.61% Upside)
Action:Reiterated
Date:08/06/26
TPVG’s score is led by attractive valuation (low P/E and very high yield) and a generally constructive earnings update with dividend coverage plus shareholder-friendly actions. These positives are tempered by mixed financial quality—especially weak and inconsistent cash flow—and a weak-to-neutral technical setup with the stock below key longer-term moving averages.
Positive Factors
Portfolio Yield Improvement
A higher weighted portfolio yield (13.5%) implies stronger recurring interest income from new and repriced term loans, supporting net investment income and dividend coverage over months. Durable yield expansion reduces dependence on capital gains and helps sustain cash returns if underwriting holds.
Negative Factors
Weak Cash Conversion
Negative TTM operating and free cash flow despite reported earnings signals inconsistent cash conversion and weaker earnings quality. Over 2–6 months this can constrain reinvestment, limit internal funding for new loans, and increase reliance on revolvers or debt to cover distributions.
Read all positive and negative factors
Positive Factors
Negative Factors
Portfolio Yield Improvement
A higher weighted portfolio yield (13.5%) implies stronger recurring interest income from new and repriced term loans, supporting net investment income and dividend coverage over months. Durable yield expansion reduces dependence on capital gains and helps sustain cash returns if underwriting holds.
Read all positive factors
TriplePoint Venture Growth (TPVG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$212.50M
Dividend Yield17.8%
Average Volume (3M)304.22K
Price to Earnings (P/E)5.3
Beta (1Y)1.15
Revenue Growth12.61%
EPS Growth-3.62%
CountryUS
EmployeesN/A
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)0.99
Shares Outstanding40,709,724
10 Day Avg. Volume201,548
30 Day Avg. Volume304,219
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)0.74
Price to Sales (P/S)2.71
P/FCF Ratio-4.62
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$5.25Price Target Upside18.24% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)0.91
Revenue Forecast (FY)$90.41M
TriplePoint Venture Growth Business Overview & Revenue Model
Company Description
TriplePoint Venture Growth BDC Corp. (TPVG) functions as a business development company, primarily concentrating its investments on growth-stage enterprises backed by venture capital. The firm's core offering involves providing debt financing solu...
How the Company Makes Money
TPVG makes money primarily from income generated on its investment portfolio as a lender to venture-backed companies. Its key revenue streams are: (1) Interest income: The largest driver is interest earned on loans and other debt investments it or...
TriplePoint Venture Growth Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Neutral
The call presented a mix of constructive portfolio and capital-management progress alongside notable near-term operational headwinds. Positives include dividend coverage, a higher portfolio yield (13.5%), reduction in unfunded commitments (down 20%), DBRS reaffirmation, liquidity of $112M, a strengthening warrant/equity portfolio ($144M FV up $6M), and a successful exit (Observe AI acquisition). Offsetting these were lower quarterly NII and NII per share (≈-8%), a QoQ decline in NAV (≈-0.9%), net unrealized losses (~$3M), restricted new commitments to TPVG ($1M vs $90M prior quarter) and materially lower fundings versus Q4 (-≈71%). Management emphasized disciplined underwriting, AI-focused rotation and shareholder-friendly actions (fee waivers, $12.5M buyback), but the funding cadence and certain credit downgrades temper near-term upside. Overall, the call is balanced between progress and work-to-do.Positive Updates
Dividend Coverage and Net Investment Income
Net investment income of $9.1M ($0.23 per share) in Q1 2026 fully covered the $0.23 per share quarterly dividend.
Negative Updates
Quarterly Decline in Net Investment Income and NII Per Share
Net investment income fell to $9.1M ($0.23/sh) from $9.9M ($0.25/sh) in the prior quarter (-$0.8M, ≈-8.1% NII; -8.0% NII per share), driven in part by lower base rates and portfolio migration impacts.
Read all updates
Q1-2026 Updates
Positive
Negative
Dividend Coverage and Net Investment Income
Net investment income of $9.1M ($0.23 per share) in Q1 2026 fully covered the $0.23 per share quarterly dividend.
Read all positive updates
Company Guidance
Management's guidance reinforced a disciplined, liquidity‑focused plan: target quarterly fundings of $25–$50 million for 2026 (Q1 fundings ~$26.5M to seven companies), maintain a portfolio yield around the Q1 level (overall weighted average portfolio yield 13.5% vs 12.7% prior quarter; funded loans carried a 12.9% yield; core yield ex‑prepays 12.6%), preserve dividend coverage (NII $9.1M or $0.23/share, covering the $0.23/share dividend), and continue balance‑sheet management (total liquidity $112M — $9M cash, $103M revolver; gross leverage 1.27x down from 1.33x; net leverage 1.25x vs 1.20x; fixed‑rate debt 56% vs 80%; ~2/3 of debt floating with 79% of those at prime floors). They also highlighted progress reducing unfunded commitments to $207M (down 20% from $260M; ~$97M due in the remaining 9 months of 2026, $83M in 2027, $27M in 2028), a $144M fair value warrant/equity portfolio, the adviser’s full waiver of quarterly income incentive fees through 2026 (Q1 waived fees ~$1.8M), a Board‑authorized 12‑month $12.5M buyback program, and an affirmed DBRS rating of BBB (low), stable.TriplePoint Venture Growth Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
68
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 84.25M | 97.21M | 71.19M | 5.97M | 13.39M | 100.74M |
| Gross Profit | 64.07M | 81.18M | 45.53M | -27.07M | -9.51M | 87.35M |
| EBITDA | 55.28M | 75.73M | 32.05M | -39.82M | -20.07M | 76.56M |
| Net Income | 38.73M | 49.21M | 32.05M | -39.82M | -20.07M | 76.56M |
Balance Sheet | ||||||
| Total Assets | 809.04M | 839.65M | 763.04M | 978.83M | 1.01B | 927.67M |
| Cash, Cash Equivalents and Short-Term Investments | 14.00M | 20.36M | 45.90M | 153.33M | 51.49M | 51.27M |
| Total Debt | 444.18M | 469.08M | 398.83M | 607.90M | 566.98M | 467.50M |
| Total Liabilities | 456.22M | 486.03M | 417.35M | 632.52M | 594.59M | 493.18M |
| Stockholders Equity | 352.82M | 353.62M | 345.69M | 346.31M | 419.94M | 434.49M |
Cash Flow | ||||||
| Free Cash Flow | -29.09M | -57.03M | 152.92M | 49.23M | -100.89M | -144.68M |
| Operating Cash Flow | -29.09M | -57.03M | 152.92M | 49.23M | -100.89M | -144.68M |
| Investing Cash Flow | 0.00 | -77.11M | 0.00 | 56.92M | -421.00M | -417.37M |
| Financing Cash Flow | -18.63M | 25.67M | -245.78M | 6.17M | 101.00M | 159.15M |
TriplePoint Venture Growth Technical Analysis
Positive
4.44
Price Trends
4.87
Positive
4.99
Positive
5.20
Positive
Market Momentum
0.09
Negative
66.37
Neutral
92.74
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TPVG, the sentiment is Positive. The current price of 4.44 is below the 20-day moving average (MA) of 4.73, below the 50-day MA of 4.87, and below the 200-day MA of 5.20, indicating a bullish trend. The MACD of 0.09 indicates Negative momentum. The RSI at 66.37 is Neutral, neither overbought nor oversold. The STOCH value of 92.74 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TPVG.
TriplePoint Venture Growth Risk Analysis
TriplePoint Venture Growth disclosed 89 risk factors in its most recent earnings report. TriplePoint Venture Growth reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
TriplePoint Venture Growth Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | $220.78M | 6.52 | 11.28% | 14.47% | 92.11% | 73.34% | |
71 Outperform | $1.75B | 9.47 | 14.08% | 11.82% | 8.54% | -23.45% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | $212.50M | 5.33 | 10.77% | 20.94% | 12.61% | -3.62% | |
60 Neutral | $242.25M | 41.79 | 0.01% | 29.18% | 138.32% | -27.91% | |
60 Neutral | $245.18M | 12.10 | 6.38% | 21.11% | 0.37% | -28.29% |
* Financial Sector Average
TPVG
TriplePoint Venture Growth
5.28
-0.05
-0.96%
PNNT
Pennantpark Investment
3.74
-2.34
-38.49%
SCM
Stellus Capital
8.80
-4.13
-31.93%
TRIN
Trinity Capital
18.19
4.41
31.99%
LIEN
Chicago Atlantic BDC
9.78
0.79
8.76%
TriplePoint Venture Growth Corporate Events
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
TriplePoint Venture Growth Reports Strong Q2 2026 Results
Positive
Aug 5, 2026
On August 5, 2026, TriplePoint Venture Growth BDC Corp. reported second-quarter 2026 results showing net investment income of $8.3 million, or $0.21 per share, and a net increase in net assets from operations of $10.7 million, or $0.26 per share. ...
Business Operations and StrategyStock BuybackDividendsFinancial DisclosuresPrivate Placements and Financing
TriplePoint Venture Growth Announces Q1 Results and Buyback
Positive
May 6, 2026
TriplePoint Venture Growth BDC Corp. reported first quarter 2026 net investment income of $9.1 million, or $0.23 per share, on a debt investment portfolio that grew to $716.8 million at cost and produced a 13.5% weighted average annualized yield. ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.