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BlackRock TCP Capital ( (TCPC) ) just unveiled an announcement.
BlackRock TCP Capital released preliminary, unaudited results for the quarter ended December 31, 2025, indicating a sharp deterioration in net asset value per share to an estimated range of $7.05–$7.09, down about 19% from $8.71 at September 30, 2025, largely due to issuer-specific issues at six portfolio companies that together accounted for roughly two-thirds of the decline. Net investment income per share is expected at $0.24–$0.26, non-accruals rose to about 4.0% of the portfolio at fair value (9.6% at cost), and net regulatory leverage climbed to roughly 1.45x (total debt-to-equity about 1.74x), even as the company maintained approximately $483 million of available leverage and $61.1 million in cash and benefited modestly from a voluntary management fee waiver of about $0.02 per share; at the same time, all 2025 new investments were in first-lien loans and average new position sizes fell, underscoring a shift toward more senior, more granular exposure in response to portfolio stress ahead of final results due on February 27, 2026.
The most recent analyst rating on (TCPC) stock is a Hold with a $6.00 price target. To see the full list of analyst forecasts on BlackRock TCP Capital stock, see the TCPC Stock Forecast page.
Spark’s Take on TCPC Stock
According to Spark, TipRanks’ AI Analyst, TCPC is a Neutral.
TCPC scores in the middle primarily due to earnings volatility and recent losses despite generally positive cash generation, with weak technical momentum reinforcing caution. A very high dividend yield and a balanced earnings-call update (improving nonaccruals/strong liquidity offset by realized losses and a liquidation-driven NAV hit) provide partial support but not enough to outweigh the profitability and trend concerns.
To see Spark’s full report on TCPC stock, click here.
More about BlackRock TCP Capital
BlackRock TCP Capital Corp. is a business development company that provides debt and income-producing investments, with a portfolio focused largely on first-lien loans to middle-market borrowers. The firm leverages BlackRock’s Private Financing Solutions platform, independent pricing vendors and valuation firms to manage and value its credit portfolio, with a growing emphasis on smaller, diversified positions and a high proportion of senior secured exposure.
Average Trading Volume: 756,098
Technical Sentiment Signal: Sell
Current Market Cap: $485.3M
See more insights into TCPC stock on TipRanks’ Stock Analysis page.