TriplePoint Venture Growth (TPVG)
NYSE:TPVG
Want to see TPVG full AI Analyst Report?
Top Page
TriplePoint Venture Growth
(NYSE:TPVG)
Select Model
Select Model
Rating:49Neutral
Price Target:
$5.50
▼(-2.65% Downside)
Action:Reiterated
Date:05/09/26
The score is held down primarily by weak financial performance (TTM revenue decline, net loss, and negative free cash flow) and only a moderate balance-sheet cushion. Technicals are supportive with price above key moving averages and positive MACD/RSI, but not strong enough to offset fundamentals. Valuation is mixed: an exceptionally high dividend yield helps, while a negative P/E highlights earnings weakness and payout risk. The latest earnings call was constructive on liquidity discipline and dividend coverage, but tempered by lower NII, slight NAV decline, and reduced funding pace.
Positive Factors
Higher Portfolio/Yield Mix
A rising portfolio yield (13.5% Q1) and funded-loan yields near 12.9% materially lift core interest income potential and the spread over funding costs. Sustainably higher yields on new originations improve NII resilience and support dividend coverage if credit performance stabilizes.
Negative Factors
Deteriorating Earnings & Cash Flow
A meaningful TTM revenue decline and swing to a net loss with roughly -$59M in negative operating/free cash flow signal weakened cash generation quality. For a BDC that depends on interest income and funding access, persistent negative cash flow raises sustainability risk for dividends and increases reliance on external capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Higher Portfolio/Yield Mix
A rising portfolio yield (13.5% Q1) and funded-loan yields near 12.9% materially lift core interest income potential and the spread over funding costs. Sustainably higher yields on new originations improve NII resilience and support dividend coverage if credit performance stabilizes.
Read all positive factors
TriplePoint Venture Growth (TPVG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$224.92M
Dividend Yield17.28%
Average Volume (3M)318.44K
Price to Earnings (P/E)8.2
Beta (1Y)1.02
Revenue Growth18.91%
EPS Growth14.29%
CountryUS
EmployeesN/A
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)1.06
Shares Outstanding40,598,980
10 Day Avg. Volume274,928
30 Day Avg. Volume318,441
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)0.74
Price to Sales (P/S)2.71
P/FCF Ratio-4.62
Enterprise Value/Market Cap2.94
Enterprise Value/Revenue8.23
Enterprise Value/Gross Profit11.12
Enterprise Value/Ebitda13.10
Forecast
1Y Price Target
$5.50Price Target Upside-2.65% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering3
EPS Forecast (FY)0.93
Revenue Forecast (FY)$91.65M
TriplePoint Venture Growth Business Overview & Revenue Model
Company Description
TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments. It also provides debt financing to venture growth space companies which includes g...
How the Company Makes Money
TPVG makes money primarily by originating and holding interest-earning loans and other debt investments to venture capital-backed companies. The largest recurring revenue stream is interest income (including cash-pay and, when applicable, non-cash...
TriplePoint Venture Growth Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Neutral
The call presented a mix of constructive portfolio and capital-management progress alongside notable near-term operational headwinds. Positives include dividend coverage, a higher portfolio yield (13.5%), reduction in unfunded commitments (down 20%), DBRS reaffirmation, liquidity of $112M, a strengthening warrant/equity portfolio ($144M FV up $6M), and a successful exit (Observe AI acquisition). Offsetting these were lower quarterly NII and NII per share (≈-8%), a QoQ decline in NAV (≈-0.9%), net unrealized losses (~$3M), restricted new commitments to TPVG ($1M vs $90M prior quarter) and materially lower fundings versus Q4 (-≈71%). Management emphasized disciplined underwriting, AI-focused rotation and shareholder-friendly actions (fee waivers, $12.5M buyback), but the funding cadence and certain credit downgrades temper near-term upside. Overall, the call is balanced between progress and work-to-do.Positive Updates
Dividend Coverage and Net Investment Income
Net investment income of $9.1M ($0.23 per share) in Q1 2026 fully covered the $0.23 per share quarterly dividend.
Negative Updates
Quarterly Decline in Net Investment Income and NII Per Share
Net investment income fell to $9.1M ($0.23/sh) from $9.9M ($0.25/sh) in the prior quarter (-$0.8M, ≈-8.1% NII; -8.0% NII per share), driven in part by lower base rates and portfolio migration impacts.
Read all updates
Q1-2026 Updates
Positive
Negative
Dividend Coverage and Net Investment Income
Net investment income of $9.1M ($0.23 per share) in Q1 2026 fully covered the $0.23 per share quarterly dividend.
Read all positive updates
Company Guidance
Management's guidance reinforced a disciplined, liquidity‑focused plan: target quarterly fundings of $25–$50 million for 2026 (Q1 fundings ~$26.5M to seven companies), maintain a portfolio yield around the Q1 level (overall weighted average portfolio yield 13.5% vs 12.7% prior quarter; funded loans carried a 12.9% yield; core yield ex‑prepays 12.6%), preserve dividend coverage (NII $9.1M or $0.23/share, covering the $0.23/share dividend), and continue balance‑sheet management (total liquidity $112M — $9M cash, $103M revolver; gross leverage 1.27x down from 1.33x; net leverage 1.25x vs 1.20x; fixed‑rate debt 56% vs 80%; ~2/3 of debt floating with 79% of those at prime floors). They also highlighted progress reducing unfunded commitments to $207M (down 20% from $260M; ~$97M due in the remaining 9 months of 2026, $83M in 2027, $27M in 2028), a $144M fair value warrant/equity portfolio, the adviser’s full waiver of quarterly income incentive fees through 2026 (Q1 waived fees ~$1.8M), a Board‑authorized 12‑month $12.5M buyback program, and an affirmed DBRS rating of BBB (low), stable.TriplePoint Venture Growth Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
55
Neutral
Cash Flow
30
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 80.43M | 97.21M | 71.19M | 5.97M | 13.39M | 100.74M |
| Gross Profit | 59.55M | 81.18M | 45.53M | -27.07M | -9.51M | 87.35M |
| EBITDA | 50.54M | 75.73M | 32.05M | -39.82M | -20.07M | 76.56M |
| Net Income | 42.68M | 49.21M | 32.05M | -39.82M | -20.07M | 76.56M |
Balance Sheet | ||||||
| Total Assets | 807.09M | 839.65M | 763.04M | 978.83M | 1.01B | 927.67M |
| Cash, Cash Equivalents and Short-Term Investments | 9.05M | 20.36M | 45.90M | 153.33M | 51.49M | 51.27M |
| Total Debt | 446.18M | 469.08M | 398.83M | 607.90M | 566.98M | 467.50M |
| Total Liabilities | 456.11M | 486.03M | 417.35M | 632.52M | 594.59M | 493.18M |
| Stockholders Equity | 350.98M | 353.62M | 345.69M | 346.31M | 419.94M | 434.49M |
Cash Flow | ||||||
| Free Cash Flow | -59.23M | -57.03M | 152.92M | 49.23M | -100.89M | -144.68M |
| Operating Cash Flow | -59.23M | -57.03M | 152.92M | 49.23M | -100.89M | -144.68M |
| Investing Cash Flow | 697.00K | -77.11M | 0.00 | 56.92M | -421.00M | -417.37M |
| Financing Cash Flow | 25.87M | 25.67M | -245.78M | 6.17M | 101.00M | 159.15M |
TriplePoint Venture Growth Technical Analysis
Neutral
5.65
Price Trends
5.29
Positive
5.49
Positive
5.54
Positive
Market Momentum
0.09
Positive
49.87
Neutral
17.68
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TPVG, the sentiment is Neutral. The current price of 5.65 is above the 20-day moving average (MA) of 5.61, above the 50-day MA of 5.29, and above the 200-day MA of 5.54, indicating a neutral trend. The MACD of 0.09 indicates Positive momentum. The RSI at 49.87 is Neutral, neither overbought nor oversold. The STOCH value of 17.68 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TPVG.
TriplePoint Venture Growth Risk Analysis
TriplePoint Venture Growth disclosed 89 risk factors in its most recent earnings report. TriplePoint Venture Growth reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
TriplePoint Venture Growth Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $225.70M | 6.24 | 11.28% | 13.03% | 92.11% | 73.34% | |
72 Outperform | $1.48B | 6.76 | 14.73% | 13.53% | 4.03% | -16.92% | |
70 Outperform | $364.20M | 0.44 | <0.01% | 5.39% | ― | ― | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
53 Neutral | $262.84M | 40.25 | ― | 12.83% | 6.21% | -42.00% | |
50 Neutral | $248.13M | -30.83 | 0.01% | 16.61% | 122.81% | 43.00% | |
49 Neutral | $224.92M | 8.18 | 12.12% | 17.28% | 18.91% | 14.29% |
* Financial Sector Average
TPVG
TriplePoint Venture Growth
5.54
-0.16
-2.86%
SSSS
SuRo Capital
13.97
7.94
131.75%
PNNT
Pennantpark Investment
3.80
-1.78
-31.90%
SCM
Stellus Capital
9.08
-2.69
-22.85%
TRIN
Trinity Capital
16.49
4.13
33.41%
LIEN
Chicago Atlantic BDC
9.89
0.98
10.99%
TriplePoint Venture Growth Corporate Events
Business Operations and StrategyStock BuybackDividendsFinancial DisclosuresPrivate Placements and Financing
TriplePoint Venture Growth Announces Q1 Results and Buyback
Positive
May 6, 2026
TriplePoint Venture Growth BDC Corp. reported first quarter 2026 net investment income of $9.1 million, or $0.23 per share, on a debt investment portfolio that grew to $716.8 million at cost and produced a 13.5% weighted average annualized yield. ...
Executive/Board ChangesShareholder Meetings
TriplePoint Venture Growth Shareholders Back Board and Auditor
Positive
May 1, 2026
TriplePoint Venture Growth BDC Corp. held its Annual Meeting of Stockholders on April 29, 2026, with 27,096,322 of 40,491,145 eligible common shares represented in person or by proxy, reflecting a solid level of investor participation. Stockholder...
Business Operations and StrategyDividendsFinancial DisclosuresPrivate Placements and Financing
TriplePoint Venture Growth Reports Strong 2025 Investment Income
Positive
Mar 4, 2026
TriplePoint Venture Growth BDC Corp. reported on March 4, 2026 that it achieved net investment income of $42.3 million, or $1.05 per share, for fiscal 2025 and a net increase in net assets from operations of $1.22 per share, supported by strong po...
Business Operations and StrategyPrivate Placements and Financing
TriplePoint Venture Growth Refinances 2026 Notes, Enhancing Flexibility
Positive
Mar 2, 2026
On February 27, 2026, TriplePoint Venture Growth BDC Corp. entered into a $75 million master note purchase agreement for senior unsecured notes due February 27, 2028, carrying a fixed annual interest rate of 7.50% and sold in a private placement t...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.