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BlackRock TCP Capital Corp. (TCPC)

Financial Services | Asset Management | Santa Monica, United States | NasdaqGS
3.15 USD -0.11 (-3.374%) ⇩ (July 13, 2026, 4 p.m. EDT)
After hours: 3.16 +0.01 (0.317%) ⇧ (July 13, 2026, 7:21 p.m. EDT)

Short-term:★☆☆☆☆Long-term:★☆☆☆☆Dividends:★★☆☆☆
Hot Take | July 11, 2026, 2:48 a.m. EDT

The investment case here is fundamentally broken. The business is deteriorating rapidly, with revenue contracting by nearly 24% and the company reporting negative earnings per share. This is compounded by a brutal multi-year price trajectory where the stock has lost nearly half its value over nine years, with four consecutive years of decline ending recently. Despite trading at a fraction of book value, the market has correctly priced in the structural damage to the private credit strategy. The 26% dividend yield is a dangerous trap; while the payout ratio looks mathematically low, it is being funded by asset liquidation and cash reserves rather than sustainable operating cash flow, making it unsustainable in a prolonged downturn. Short-term momentum remains deeply bearish, with the stock lagging significantly behind its moving averages and statistical models predicting further downside. There is no evidence of a turnaround yet, only a continuation of the decline.

Model Selection — Backtest MAE (log-scale, lower is better)
ModelMAE
AutoETS ✓0.081051
AutoARIMA0.081271
AutoTheta0.093953
MSTL0.113903
MSTL_1260.178391

Forecast horizon: 60 days | Selected: AutoETS

Forecast Reliability
Score 45%
H-stat 6.56
Ljung-Box p 0.000
Jarque-Bera p 0.112
Excess Kurtosis -1.15
Attribute Value
Sector Financial Services
Ex Dividend Date 2026-06-15
Last Dividend Date 2026-06-15
Debt to Equity Ratio 163.834
Revenue per Share 2.223
Market Cap 264,293,760
Forward P/E 4.45
Beta 1.01
Profit Margins -66.92%
Website https://www.tcpcapital.com

As of July 11, 2026, 2:48 a.m. EDT: Speculators are positioning heavily for downside protection, evidenced by massive open interest in out-of-the-money puts (3.1k contracts at the $2.5 strike for August expiration) compared to negligible call volume. While there is some speculative call activity at the $5.0 strike, the overwhelming capital deployment is in put writing or buying, suggesting a consensus view of continued weakness rather than a rebound.


Dividend Data

Yield Summary
Last Yield 1yr Yield 3yr Avg 5yr Avg
4.89% 18.40% 16.72% 14.13%
Dividend History
Date Dividend Yield %
2026-06-16 0.17 4.885057
2026-03-17 0.17 4.815864
2025-12-17 0.25 4.385965
2025-09-16 0.29 4.315476
2025-06-16 0.29 3.983516
2025-03-17 0.29 3.746770
2024-12-17 0.44 5.028571
2024-09-16 0.34 3.921569
2024-06-14 0.34 3.192488
2024-03-13 0.34 3.288201
2023-12-14 0.59 4.966330
2023-09-14 0.44 3.630363
2023-06-15 0.34 3.052065
2023-03-16 0.32 3.171457
2022-12-28 0.05 0.387597
2022-12-15 0.32 2.500000
2022-09-15 0.30 2.360346
2022-06-15 0.30 2.439024
2022-03-16 0.30 2.215657
2021-12-16 0.30 2.235469
2021-09-15 0.30 2.152080
2021-06-15 0.30 2.126152
2021-03-16 0.30 2.087683
2020-12-16 0.30 2.535926
2020-09-15 0.30 3.067485
2020-06-15 0.36 3.703704
2020-03-16 0.36 4.793608
2019-12-16 0.36 2.486188
2019-09-13 0.36 2.678572
2019-06-13 0.36 2.496533
2019-03-14 0.36 2.542373
2018-12-14 0.36 2.599278
2018-09-13 0.36 2.510460
2018-06-14 0.36 2.484472
2018-03-15 0.36 2.604920
2017-12-14 0.36 2.340702
2017-09-14 0.36 2.269861
2017-06-14 0.36 2.155689
2017-03-15 0.36 2.120141
2016-12-14 0.36 2.147971
2016-09-14 0.36 2.268431
2016-06-14 0.36 2.447315
2016-03-15 0.36 2.595530
2015-12-15 0.36 2.595530
2015-09-14 0.36 2.414487
2015-06-12 0.36 2.300320
2015-03-17 0.36 2.277040
2014-12-04 0.41 2.484848
2014-09-12 0.36 2.111437
2014-06-16 0.41 2.372685
2014-03-13 0.36 2.196461
2013-12-06 0.41 2.466907
2013-09-05 0.36 2.348337
2013-06-05 0.36 2.301790
2013-03-14 0.40 2.525253
2012-12-13 0.40 2.713704
2012-09-12 0.35 2.286087
2012-06-13 0.34 2.397743
Additional Data
dividendRate 0.84
dividendYield 25.81
exDividendDate 2026-06-16
trailingAnnualDividendRate 0.92
trailingAnnualDividendYield 0.2822086
lastDividendValue 0.17
lastDividendDate 2026-06-16
dividendDate 2026-06-30

Info Dump

Attribute Value
52 Week Change -0.5825864
Address1 2,951 28th Street
Address2 Suite 1000
All Time High 18.55
All Time Low 3.08
Ask 3.16
Ask Size 1
Average Daily Volume10 Day 731,510
Average Daily Volume3 Month 809,916
Average Volume 809,916
Average Volume10Days 731,510
Beta 1.01
Bid 2.34
Bid Size 2
Book Value 6.723
City Santa Monica
Compensation As Of Epoch Date 1,767,139,200
Country United States
Crypto Tradeable 0
Currency USD
Current Price 3.15
Current Ratio 3.162
Custom Price Alert Confidence HIGH
Date Short Interest 1,782,777,600
Day High 3.3
Day Low 3.13
Debt To Equity 163.834
Display Name BlackRock TCP Capital
Dividend Date 1,782,777,600
Dividend Rate 0.84
Dividend Yield 25.81
Earnings Call Timestamp End 1,786,046,400
Earnings Call Timestamp Start 1,786,046,400
Earnings Timestamp 1,786,019,400
Earnings Timestamp End 1,786,019,400
Earnings Timestamp Start 1,786,019,400
Ebitda Margins 0.0
Enterprise To Revenue 5.82
Enterprise Value 1,096,878,336
Eps Current Year 0.8175
Eps Forward 0.7075
Eps Trailing Twelve Months -1.49
Esg Populated 0
Ex Dividend Date 1,781,568,000
Exchange NMS
Exchange Data Delayed By 0
Exchange Timezone Name America/New_York
Exchange Timezone Short Name EDT
Fax 310 899 4950
Fifty Day Average 3.741
Fifty Day Average Change -0.59099984
Fifty Day Average Change Percent -0.15797912
Fifty Two Week Change Percent -58.25864
Fifty Two Week High 7.9
Fifty Two Week High Change -4.75
Fifty Two Week High Change Percent -0.6012658
Fifty Two Week Low 3.08
Fifty Two Week Low Change 0.07000017
Fifty Two Week Low Change Percent 0.02272733
Fifty Two Week Range 3.08 - 7.9
Financial Currency USD
First Trade Date Milliseconds 1,333,546,200,000
Five Year Avg Dividend Yield 13.18
Forward Eps 0.7075
Forward P E 4.452297
Free Cashflow 68,796,672
Full Exchange Name NasdaqGS
Gmt Off Set Milliseconds -14,400,000
Gross Margins 1.0
Gross Profits 188,480,352
Has Pre Post Market Data 1
Held Percent Insiders 0.00368
Held Percent Institutions 0.27075002
Implied Shares Outstanding 83,902,775
Industry Asset Management
Industry Disp Asset Management
Industry Key asset-management
Is Earnings Date Estimate 0
Language en-US
Last Dividend Date 1,781,568,000
Last Dividend Value 0.17
Last Fiscal Year End 1,767,139,200
Long Business Summary BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, small businesses, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals. It seeks to invest in the United States. The fund typically invests in debt between $10 million and $35 million in companies with enterprise values between $100 million and $1500 million including complex situations. It prefers to make equity investments in companies for an ownership stake.
Long Name BlackRock TCP Capital Corp.
Market us_market
Market Cap 264,293,760
Market State POSTPOST
Max Age 86,400
Message Board Id finmb_66337678
Most Recent Quarter 1,774,915,200
Net Income To Common -126,127,488
Next Fiscal Year End 1,798,675,200
Non Diluted Market Cap 273,103,532
Number Of Analyst Opinions 3
Open 3.24
Operating Cashflow 261,541,440
Operating Margins 0.81078005
Payout Ratio 3.7778
Peg Ratio 0.91
Phone 310 566 1000
Post Market Change 0.00999999
Post Market Change Percent 0.31746
Post Market Price 3.16
Post Market Time 1,783,984,887
Previous Close 3.26
Price Eps Current Year 3.8532112
Price Hint 4
Price To Book 0.46854085
Price To Sales Trailing12 Months 1.402235
Profit Margins -0.66918
Quick Ratio 3.142
Quote Source Name Nasdaq Real Time Price
Quote Type EQUITY
Recommendation Key none
Region US
Regular Market Change -0.11
Regular Market Change Percent -3.37423
Regular Market Day High 3.3
Regular Market Day Low 3.13
Regular Market Day Range 3.13 - 3.3
Regular Market Open 3.24
Regular Market Previous Close 3.26
Regular Market Price 3.15
Regular Market Time 1,783,972,801
Regular Market Volume 864,329
Return On Assets 0.0591
Return On Equity -0.18735
Revenue Growth -0.238
Revenue Per Share 2.223
Sand P52 Week Change 0.20847368
Sector Financial Services
Sector Disp Financial Services
Sector Key financial-services
Shares Outstanding 83,902,775
Shares Percent Shares Out 0.0615
Shares Short 5,156,367
Shares Short Previous Month Date 1,780,012,800
Shares Short Prior Month 5,691,962
Short Name BlackRock TCP Capital Corp.
Short Percent Of Float 0.0617
Short Ratio 5.56
Source Interval 15
State CA
Symbol TCPC
Target High Price 5.5
Target Low Price 3.5
Target Mean Price 4.16667
Target Median Price 3.5
Total Cash 93,258,536
Total Cash Per Share 1.112
Total Debt 925,843,136
Total Revenue 188,480,352
Tradeable 0
Trailing Annual Dividend Rate 0.92
Trailing Annual Dividend Yield 0.2822086
Trailing Eps -1.49
Trailing Peg Ratio None
Triggerable 1
Two Hundred Day Average 4.76205
Two Hundred Day Average Change -1.61205
Two Hundred Day Average Change Percent -0.33852017
Type Disp Equity
Volume 864,329
Website https://www.tcpcapital.com
Zip 90,405