Horizon Technology Finance Corporation
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
Horizon Technology Finance Corporation (HTFB) - Net Assets
Latest net assets as of September 2025: $315.70 Million USD
Based on the latest financial reports, Horizon Technology Finance Corporation (HTFB) has net assets worth $315.70 Million USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($759.21 Million) and total liabilities ($443.51 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $315.70 Million |
| % of Total Assets | 41.58% |
| Annual Growth Rate | 12.24% |
| 5-Year Change | 58.13% |
| 10-Year Change | 110.44% |
| Growth Volatility | 29.35 |
Horizon Technology Finance Corporation - Net Assets Trend (2009–2024)
This chart illustrates how Horizon Technology Finance Corporation's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Horizon Technology Finance Corporation (2009–2024)
The table below shows the annual net assets of Horizon Technology Finance Corporation from 2009 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 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 Corporation'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 18129312300.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $44.00K | 0.01% |
| Other Components | $518.20 Million | 154.14% |
| Total Equity | $336.18 Million | 100.00% |
Horizon Technology Finance Corporation Competitors by Market Cap
The table below lists competitors of Horizon Technology Finance Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Atlanticus Holdings Corporation 9.25% Senior Notes due 2029
NASDAQ:ATLCZ
|
$250.66K |
|
SKAGEN - m²
CO:SKIM2
|
$250.74K |
|
Smart Card Marketing Systems Inc
OTCQB:SMKG
|
$250.76K |
|
Trivium Real Estate Socimi SA
MC:YTRI
|
$250.85K |
|
Wealth Inv WCM US SmallCapAkt
CO:WEIWCMUSSCA
|
$250.23K |
|
TENJ
BATS:TENJ
|
$250.16K |
|
Carlyle Secured Lending Inc. 8.20% Notes due 2028
NASDAQ:CGBDL
|
$250.11K |
|
INTSIG ORD A (SHH) EQSW Exp:
SHG:688615
|
$250.11K |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Horizon Technology Finance Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 323,981,000 to 336,183,000, a change of 12,202,000 (3.8%).
- Net loss of 5,633,000 reduced equity.
- Dividend payments of 46,370,000 reduced retained earnings.
- Other factors increased equity by 64,205,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-5.63 Million | -1.68% |
| Dividends Paid | $46.37 Million | -13.79% |
| Other Changes | $64.20 Million | +19.1% |
| Total Change | $- | 3.77% |
Book Value vs Market Value Analysis
This analysis compares Horizon Technology Finance Corporation'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: 2.76x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 3.27x to 2.76x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2009-12-31 | $7.87 | $25.72 | x |
| 2010-12-31 | $16.81 | $25.72 | x |
| 2011-12-31 | $17.07 | $25.72 | x |
| 2012-12-31 | $17.09 | $25.72 | x |
| 2013-12-31 | $14.17 | $25.72 | x |
| 2014-12-31 | $14.37 | $25.72 | x |
| 2015-12-31 | $14.29 | $25.72 | x |
| 2016-12-31 | $12.06 | $25.72 | x |
| 2017-12-31 | $11.73 | $25.72 | x |
| 2018-12-31 | $11.65 | $25.72 | x |
| 2019-12-31 | $13.66 | $25.72 | x |
| 2020-12-31 | $12.12 | $25.72 | x |
| 2021-12-31 | $12.25 | $25.72 | x |
| 2022-12-31 | $12.88 | $25.72 | x |
| 2023-12-31 | $10.47 | $25.72 | x |
| 2024-12-31 | $9.31 | $25.72 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Horizon Technology Finance Corporation 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): -1.68%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -16.60%
- • Asset Turnover: 0.04x
- • Equity Multiplier: 2.44x
- Recent ROE (-1.68%) is below the historical average (5.72%), 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 |
| 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 |
Industry Comparison
This section compares Horizon Technology Finance Corporation's net assets metrics with peer companies in the same industry.
Industry Context
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Horizon Technology Finance Corporation (HTFB) | $315.70 Million | 15.65% | 1.40x | $250.28K |
| Abcam plc (ABCZF) | $726.90 Million | -1.17% | 0.45x | $5.00 Billion |
| Able View Global Inc. Warrant (ABLVW) | $11.42 Million | 85.41% | 3.81x | $277.93K |
| Above Food Ingredients Inc. Warrants (ABVEW) | $199.86 Million | -2.89% | 0.00x | $6.25 Million |
| Adamas Trust, Inc. (ADAMG) | $2.43 Billion | 7.94% | 1.33x | $2.09 Billion |
| ADS-TEC ENERGY PLC Warrant (ADSEW) | $33.92 Million | -162.39% | 2.67x | $10.06 Million |
| Alliance Entertainment Holding Corporation Warrants (AENTW) | $52.92 Million | 10.13% | 4.23x | $2.29 Million |
| Forafric Global PLC Warrants (AFRIW) | $5.32 Million | -457.58% | 45.29x | $2.67 Million |
| Centurion Acquisition Corp. Warrant (ALFUW) | $282.84 Million | 1.97% | 0.05x | $4.81 Million |
| Alliance Trust PLC (ALITF) | $4.04 Billion | 10.04% | 0.29x | $112.87K |
| Alvotech Warrant (ALVOW) | $-564.42 Million | 0.00% | 0.00x | $35.01 Million |