Horizon Technology Finance (HRZN) - Net Assets
Based on the latest financial reports, Horizon Technology Finance (HRZN) has net assets worth $333.86 Million USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($791.65 Million) and total liabilities ($457.78 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Also explore Horizon Technology Finance balance sheet assets for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $333.86 Million |
| % of Total Assets | 42.17% |
| Annual Growth Rate | 11.06% |
| 5-Year Change | 29.82% |
| 10-Year Change | 128.82% |
| Growth Volatility | 28.84 |
Horizon Technology Finance - Net Assets Trend (2009–2025)
This chart illustrates how Horizon Technology Finance's net assets have evolved over time, based on quarterly financial data. Check HRZN intangible-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Annual Net Assets for Horizon Technology Finance (2009–2025)
The table below shows the annual net assets of Horizon Technology Finance from 2009 to 2025. For live valuation and market cap data, see Horizon Technology Finance market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $318.50 Million | -5.26% |
| 2024-12-31 | $336.18 Million | +3.77% |
| 2023-12-31 | $323.98 Million | +1.74% |
| 2022-12-31 | $318.45 Million | +29.80% |
| 2021-12-31 | $245.34 Million | +15.40% |
| 2020-12-31 | $212.60 Million | +15.51% |
| 2019-12-31 | $184.06 Million | +37.09% |
| 2018-12-31 | $134.26 Million | -0.61% |
| 2017-12-31 | $135.07 Million | -2.96% |
| 2016-12-31 | $139.19 Million | -12.87% |
| 2015-12-31 | $159.75 Million | +15.55% |
| 2014-12-31 | $138.25 Million | +1.78% |
| 2013-12-31 | $135.84 Million | -6.30% |
| 2012-12-31 | $144.97 Million | +11.62% |
| 2011-12-31 | $129.88 Million | +2.11% |
| 2010-12-31 | $127.19 Million | +113.80% |
| 2009-12-31 | $59.49 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Horizon Technology Finance's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 24013612300.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $51.00K | 0.02% |
| Other Components | $559.36 Million | 175.62% |
| Total Equity | $318.50 Million | 100.00% |
Horizon Technology Finance Competitors by Market Cap
The table below lists competitors of Horizon Technology Finance ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shahe Industry Co Ltd
SHE:000014
|
$309.92 Million |
|
XAI Octagon Floating Rate & Alternative Income Term Trust
NYSE:XFLT
|
$309.95 Million |
|
Biofarm Bucure
RO:BIO
|
$309.97 Million |
|
Tyro Payments Ltd
AU:TYR
|
$309.98 Million |
|
Nano Dimension Ltd
NASDAQ:NNDM
|
$309.90 Million |
|
Onity Group Inc.
NYSE:ONIT
|
$309.71 Million |
|
Nh Investment And Securities 1p
KO:005945
|
$309.48 Million |
|
Propel Funeral Partners Ltd
AU:PFP
|
$309.47 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Horizon Technology Finance's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 336,183,000 to 318,502,000, a change of -17,681,000 (-5.3%).
- Net loss of 2,661,000 reduced equity.
- Dividend payments of 53,094,000 reduced retained earnings.
- New share issuances of 14,081,000 increased equity.
- Other factors increased equity by 23,993,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-2.66 Million | -0.84% |
| Dividends Paid | $53.09 Million | -16.67% |
| Share Issuances | $14.08 Million | +4.42% |
| Other Changes | $23.99 Million | +7.53% |
| Total Change | $- | -5.26% |
Book Value vs Market Value Analysis
This analysis compares Horizon Technology Finance's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.61x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2009-12-31 | $7.87 | $4.56 | x |
| 2010-12-31 | $16.81 | $4.56 | x |
| 2011-12-31 | $17.07 | $4.56 | x |
| 2012-12-31 | $17.09 | $4.56 | x |
| 2013-12-31 | $14.17 | $4.56 | x |
| 2014-12-31 | $14.37 | $4.56 | x |
| 2015-12-31 | $14.29 | $4.56 | x |
| 2016-12-31 | $12.06 | $4.56 | x |
| 2017-12-31 | $11.73 | $4.56 | x |
| 2018-12-31 | $11.65 | $4.56 | x |
| 2019-12-31 | $13.66 | $4.56 | x |
| 2020-12-31 | $12.12 | $4.56 | x |
| 2021-12-31 | $12.25 | $4.56 | x |
| 2022-12-31 | $12.88 | $4.56 | x |
| 2023-12-31 | $10.47 | $4.56 | x |
| 2024-12-31 | $9.31 | $4.56 | x |
| 2025-12-31 | $7.52 | $4.56 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Horizon Technology Finance utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -0.84%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -6.65%
- • Asset Turnover: 0.05x
- • Equity Multiplier: 2.55x
- Recent ROE (-0.84%) is below the historical average (5.68%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2009 | 15.65% | 56.94% | 0.13x | 2.10x | $3.36 Million |
| 2010 | 11.58% | 96.13% | 0.07x | 1.70x | $2.01 Million |
| 2011 | 8.47% | 74.39% | 0.07x | 1.52x | $-1.99 Million |
| 2012 | 2.75% | 54.51% | 0.03x | 1.65x | $-10.51 Million |
| 2013 | 2.58% | 48.53% | 0.03x | 1.94x | $-10.08 Million |
| 2014 | 11.16% | 74.02% | 0.09x | 1.63x | $1.61 Million |
| 2015 | 7.42% | 79.22% | 0.05x | 1.76x | $-4.12 Million |
| 2016 | -3.53% | 0.00% | -0.01x | 1.72x | $-18.83 Million |
| 2017 | 7.10% | 77.32% | 0.05x | 1.73x | $-3.92 Million |
| 2018 | 9.69% | 61.19% | 0.08x | 1.99x | $-415.70K |
| 2019 | 10.59% | 91.54% | 0.06x | 1.87x | $1.09 Million |
| 2020 | 2.99% | 61.60% | 0.03x | 1.92x | $-14.90 Million |
| 2021 | 11.32% | 83.51% | 0.06x | 2.09x | $3.25 Million |
| 2022 | 6.64% | 79.39% | 0.03x | 2.41x | $-10.69 Million |
| 2023 | -5.30% | -89.97% | 0.02x | 2.48x | $-49.58 Million |
| 2024 | -1.68% | -16.60% | 0.04x | 2.44x | $-39.25 Million |
| 2025 | -0.84% | -6.65% | 0.05x | 2.55x | $-34.51 Million |
Industry Comparison
This section compares Horizon Technology Finance's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $1,083,831,619
- Average return on equity (ROE) among peers: -23.93%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Horizon Technology Finance (HRZN) | $333.86 Million | 15.65% | 1.37x | $309.91 Million |
| Acadian Asset Management Inc (AAMI) | $2.54 Billion | 1.01% | 2.37x | $1.86 Billion |
| AllianceBernstein Holding L.P. (AB) | $1.49 Billion | 16.27% | 0.00x | $3.42 Billion |
| Associated Capital Group Inc (AC) | $948.70 Million | 4.12% | 0.07x | $78.56 Million |
| Abrdn Emerging Markets Equity Income Fund Inc (AEF) | $302.50 Million | 9.63% | 0.14x | $265.69 Million |
| AgriFORCE Growing Systems Ltd (AGRI) | $6.11 Million | -266.31% | 0.76x | $194.14 Million |
| Alpha Compute Corp (ALP) | $4.53 Million | -55.38% | 0.03x | $5.49 Million |
| Alvarium Tiedemann Holdings Inc. (ALTI) | $17.85 Million | -32.96% | 4.15x | $345.31 Million |
| Affiliated Managers Group Inc (AMG) | $795.07 Million | 9.70% | 1.43x | $9.37 Billion |
| Ameriprise Financial Inc (AMP) | $4.73 Billion | 54.05% | 36.05x | $40.38 Billion |
| AMTD IDEA Group (AMTD) | $8.59 Million | 20.60% | 10.30x | $36.54 Million |
About Horizon Technology Finance
Horizon Technology Finance Corporation is a business development company specializing in lending and and investing in development-stage investments. It focuses on making secured debt and venture lending investments to venture capital backed companies in the technology, life science, healthcare information and services, cleantech and sustainability industries. It seeks to invest in companies in th… Read more