BlackRock TCP Capital Corp. (TCPC) AI Stock Analysis

BlackRock TCP Capital Corp. operates as a business development company specializing in middle-market sector investments. It primarily targets small to medium-sized businesses across diverse industries such as communication services, healthcare, energy, retail, biotechnology, and technology consulting. The firm generally engages in senior secured loans, junior loans, mezzanine financing, and other debt instruments for companies with enterprise values between $100 million and $1500 million. It also pursues equity investments to secure ownership stakes, aiming to deliver consistent returns and provide tailored capital solutions across the United States.

BlackRock TCP Capital Corp. recorded revenue of $153.4M in FY2021, $181.0M in FY2022, and $209.3M in FY2023, before revenue fell to $20.8M in FY2024 and -$76.3M in FY2025. Annual net income shifted from $133.8M in FY2021 to -$88.9M in FY2025, while annual operating cash flow stood at $154.9M in FY2025. For the trailing twelve months ended June 30, 2026, revenue reached $177.0M with an operating margin of 82.8% and a net profit margin of -61.3%. In the latest quarter, revenue declined 22.2% year-over-year, while quarterly earnings grew 13.4%.

As of June 30, 2026, BlackRock TCP Capital Corp. held $157.5M in cash and short-term investments against total debt of $910.6M, resulting in net debt of $753.0M. Total assets stood at $1.48B, shareholders' equity was $552.0M, and the current ratio was 9.95. Its debt-to-equity ratio reached 1.65. In FY2025, cash deployment included $3.0M for share buybacks and $95.2M in dividends paid, while the share count expanded 45.3% over five years.

At a last close of $4.16 on October 16, 2026, BlackRock TCP Capital Corp. had a market cap of $349.0M and an enterprise value of $1.10B. Its forward price-to-earnings ratio of 9.9x is lower than the 10.8x median of its US-listed Financial Services peers. The stock trades at a price-to-book ratio of 0.6x and a price-to-sales ratio of 2.0x, compared to the peer median price-to-sales of 3.2x. Over the past year, TCPC returned -11.0%, underperforming the S&P 500 ETF (SPY) return of 16.8%.

TCPC pays a quarterly dividend with an annual forward payout of $0.76, representing a dividend yield of 18.20% and a payout ratio of 73.1%. The company has paid dividends for 15 consecutive years, though its 5-year annualized dividend growth is -5.4%. Its most recent ex-dividend date was September 16, 2026.

All 4 analysts tracking TCPC maintain a Hold rating, with no Buy or Sell recommendations. The mean price target is $4.50, implying an upside of 8.2% from the last close of $4.16. For the fiscal year ending December 31, 2026, analysts estimate EPS of $0.66 and revenue of $129.4M. TCPC has beaten EPS estimates in 3 of the last 4 quarters, with its next earnings date scheduled for November 5, 2026.

This page is an AI-written research summary of BlackRock TCP Capital Corp. (TCPC). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: TCPC income statement, TCPC balance sheet, TCPC key metrics, TCPC analyst forecast, TCPC chart. See the TCPC stock overview for the latest quote and news.