BlackRock TCP Capital Corp (TCPC) - Net Assets
Based on the latest financial reports, BlackRock TCP Capital Corp (TCPC) has net assets worth $565.11 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 ($1.51 Billion) and total liabilities ($944.44 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. Check BlackRock TCP Capital Corp tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $565.11 Million |
| % of Total Assets | 37.44% |
| Annual Growth Rate | 3.09% |
| 5-Year Change | -27.9% |
| 10-Year Change | -24.39% |
| Growth Volatility | 25.05 |
BlackRock TCP Capital Corp - Net Assets Trend (2009–2025)
This chart illustrates how BlackRock TCP Capital Corp's net assets have evolved over time, based on quarterly financial data. See TCPC defensive interval ratio to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for BlackRock TCP Capital Corp (2009–2025)
The table below shows the annual net assets of BlackRock TCP Capital Corp from 2009 to 2025. For live valuation and market cap data, see market value of BlackRock TCP Capital Corp.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $598.01 Million | -23.83% |
| 2024-12-31 | $785.12 Million | +14.18% |
| 2023-12-31 | $687.60 Million | -7.92% |
| 2022-12-31 | $746.75 Million | -9.97% |
| 2021-12-31 | $829.46 Million | +8.43% |
| 2020-12-31 | $764.99 Million | -1.46% |
| 2019-12-31 | $776.32 Million | -6.52% |
| 2018-12-31 | $830.47 Million | -4.62% |
| 2017-12-31 | $870.73 Million | +10.09% |
| 2016-12-31 | $790.94 Million | +9.55% |
| 2015-12-31 | $721.98 Million | -1.25% |
| 2014-12-31 | $731.13 Million | +33.03% |
| 2013-12-31 | $549.61 Million | +73.93% |
| 2012-12-31 | $315.99 Million | +32.84% |
| 2011-12-31 | $237.87 Million | -40.32% |
| 2010-12-31 | $398.59 Million | +8.53% |
| 2009-12-31 | $367.27 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to BlackRock TCP Capital Corp'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 100048478800.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $84.56K | 0.01% |
| Other Components | $1.73 Billion | 289.34% |
| Total Equity | $598.01 Million | 100.00% |
BlackRock TCP Capital Corp Competitors by Market Cap
The table below lists competitors of BlackRock TCP Capital Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Ag Growth International Inc
TO:AFN
|
$271.86 Million |
|
AzureWave Technologies Inc
TW:3694
|
$271.91 Million |
|
Jiangsu Fengshan Group Co Ltd
SHG:603810
|
$271.94 Million |
|
Taisun Enterprise Co Ltd
TW:1218
|
$271.96 Million |
|
Hot Chili Ltd
AU:HCH
|
$271.80 Million |
|
Sto SE & Co. KGaA
F:STO3
|
$271.79 Million |
|
New Era Energy & Digital, Inc.
NASDAQ:NUAI
|
$271.79 Million |
|
LNA Sante SA
PA:LNA
|
$271.76 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in BlackRock TCP Capital Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 785,123,667 to 598,013,197, a change of -187,110,470 (-23.8%).
- Net loss of 88,931,013 reduced equity.
- Dividend payments of 95,168,075 reduced retained earnings.
- Share repurchases of 3,011,382 reduced equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-88.93 Million | -14.87% |
| Dividends Paid | $95.17 Million | -15.91% |
| Share Repurchases | $3.01 Million | -0.5% |
| Total Change | $- | -23.83% |
Book Value vs Market Value Analysis
This analysis compares BlackRock TCP Capital Corp'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: 0.46x
- 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 | $8.77 | $3.24 | x |
| 2010-12-31 | $18.56 | $3.24 | x |
| 2011-12-31 | $11.08 | $3.24 | x |
| 2012-12-31 | $14.71 | $3.24 | x |
| 2013-12-31 | $21.24 | $3.24 | x |
| 2014-12-31 | $18.56 | $3.24 | x |
| 2015-12-31 | $14.78 | $3.24 | x |
| 2016-12-31 | $15.52 | $3.24 | x |
| 2017-12-31 | $15.28 | $3.24 | x |
| 2018-12-31 | $14.12 | $3.24 | x |
| 2019-12-31 | $13.21 | $3.24 | x |
| 2020-12-31 | $13.19 | $3.24 | x |
| 2021-12-31 | $14.36 | $3.24 | x |
| 2022-12-31 | $12.93 | $3.24 | x |
| 2023-12-31 | $11.90 | $3.24 | x |
| 2024-12-31 | $9.85 | $3.24 | x |
| 2025-12-31 | $7.04 | $3.24 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently BlackRock TCP Capital Corp 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): -14.87%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.00%
- • Asset Turnover: -0.05x
- • Equity Multiplier: 2.76x
- Recent ROE (-14.87%) is below the historical average (6.42%), 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 | 14.72% | 0.00% | -0.08x | 1.26x | $17.35 Million |
| 2010 | 17.69% | 97.10% | 0.15x | 1.19x | $30.67 Million |
| 2011 | 2.83% | 12.34% | 0.14x | 1.70x | $-17.06 Million |
| 2012 | 8.71% | 84.73% | 0.06x | 1.74x | $-4.06 Million |
| 2013 | 11.51% | 90.76% | 0.09x | 1.46x | $8.32 Million |
| 2014 | 6.84% | 76.17% | 0.05x | 1.65x | $-23.12 Million |
| 2015 | 8.05% | 39.59% | 0.12x | 1.72x | $-14.05 Million |
| 2016 | 12.06% | 73.69% | 0.09x | 1.75x | $16.27 Million |
| 2017 | 10.41% | 68.84% | 0.08x | 1.87x | $3.54 Million |
| 2018 | 5.48% | 83.30% | 0.03x | 2.00x | $-37.57 Million |
| 2019 | 3.94% | 69.41% | 0.03x | 2.22x | $-47.05 Million |
| 2020 | 9.33% | 81.96% | 0.05x | 2.19x | $-5.12 Million |
| 2021 | 16.13% | 87.22% | 0.08x | 2.28x | $50.85 Million |
| 2022 | -1.24% | -5.10% | 0.11x | 2.30x | $-83.90 Million |
| 2023 | 5.60% | 18.38% | 0.12x | 2.47x | $-30.29 Million |
| 2024 | -8.04% | -304.06% | 0.01x | 2.45x | $-141.65 Million |
| 2025 | -14.87% | 0.00% | -0.05x | 2.76x | $-148.73 Million |
Industry Comparison
This section compares BlackRock TCP Capital Corp's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $2,057,704,278
- Average return on equity (ROE) among peers: -23.02%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| BlackRock TCP Capital Corp (TCPC) | $565.11 Million | 14.72% | 1.67x | $271.84 Million |
| Acadian Asset Management Inc (AAMI) | $2.43 Billion | 0.12% | 2.51x | $1.86 Billion |
| AllianceBernstein Holding L.P. (AB) | $1.16 Billion | 6.78% | 0.01x | $3.26 Billion |
| Associated Capital Group Inc (AC) | $1.11 Billion | 1.70% | 0.06x | $78.56 Million |
| Abrdn Emerging Markets Equity Income Fund Inc (AEF) | $304.00 Million | 32.66% | 0.17x | $265.69 Million |
| AgriFORCE Growing Systems Ltd (AGRI) | $6.11 Million | -266.31% | 0.76x | $194.14 Million |
| Alpha Compute Corp (ALP) | $5.74 Million | 8.75% | 0.01x | $5.62 Million |
| Alvarium Tiedemann Holdings Inc. (ALTI) | $17.85 Million | -32.96% | 4.15x | $363.75 Million |
| Affiliated Managers Group Inc (AMG) | $5.10 Billion | 9.27% | 0.72x | $9.37 Billion |
| Ameriprise Financial Inc (AMP) | $11.02 Billion | 9.76% | 11.16x | $40.38 Billion |
| AMTD IDEA Group (AMTD) | $-578.49 Million | 0.00% | 0.00x | $41.23 Million |
About BlackRock TCP Capital Corp
BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, small businesses, 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 teleco… Read more