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BlackRock TCP Capital/$TCPC

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About BlackRock TCP Capital

BlackRock TCP Capital Corp is an externally-managed specialty finance company focused on middle-market lending. Its investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. It seeks to achieve its investment objective through investments in debt securities of middle-market companies. The group generates returns through a combination of the receipt of contractual interest payments on debt investments and origination and similar fees, and, to a lesser extent, equity appreciation through options, warrants, conversion rights, or direct equity investments.
Ticker
$TCPC
Sector
Finance
Primary listing
NASDAQ
Employees
-
Headquarters
Santa Monica, United States
Website
www.tcpcapital.com

TCPC Metrics

BasicAdvanced
$348M
-
-$2.38
-
$0.76
16.39%

What the Analysts think about TCPC

Analyst ratings (Buy, Hold, Sell) for BlackRock TCP Capital stock.
Analyst projections of the future price of BlackRock TCP Capital stock.

Bulls say / Bears say

The Pantheon portfolio sale is expected to cut net leverage from 1.38x to about 0.4x, or below 0.3x after a further paydown, while reducing unfunded commitments to under $40 million. That gives TCPC much more room to manage its balance sheet and consider strategic options. (BlackRock TCP Capital Corp.)
Second-quarter net investment income of $0.22 per share, or $0.21 on an adjusted basis, exceeded the $0.17 dividend. That provides current income support for the reduced payout, though it does not guarantee future coverage. (BlackRock TCP Capital Corp.)
Credit indicators improved sequentially: non-accrual investments fell to 1.6% of portfolio fair value from 2.8%, and 89.8% of the portfolio was first-lien debt. These trends suggest some progress in protecting and improving the loan book. (BlackRock TCP Capital Corp.)
The portfolio sale is expected to reduce NAV by about 10.4%, or $0.68 per share, based on June quarter-end NAV. The sharp balance-sheet improvement therefore comes with a material immediate hit to book value. (BlackRock TCP Capital Corp.)
NAV fell a further 2.1% in the second quarter, while TCPC recorded $14.8 million in realised losses and markdowns on several holdings. That points to ongoing losses in the underlying loan portfolio, despite lower non-accruals. (BlackRock TCP Capital Corp.)
Fitch kept a negative outlook, citing elevated non-accruals and payment-in-kind income that could lead to further realised losses, as well as a weaker asset-coverage cushion than peers. The large sale cuts leverage, but does not by itself remove credit risk in the remaining loans. (Fitch Ratings)
Data summarised monthly by Lightyear AI. Last updated on 27 Oct 2026.

TCPC Financial Performance

Revenues and expenses
Income statement
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
Net income
Profit margin

TCPC Earnings Performance

Company profitability
Earnings per share
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
Expected
Surprise

TCPC News

AllArticlesVideos

What Blackrock Tcp Capital (TCPC) Said on Its Q3 Earnings Call

MarketBeat6 days ago

Funds containing TCPC

Funds
Fund name
Fund size
$TCPC weighting
iShares Listed Private Equity$IDPE
$843M0.20%
iShares Listed Private Equity£IPRV
$843M0.20%
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