Financial health
- Total debt ($473M) exceeds cash ($143M); net debt is $330M.
Shareholder returns
- Dividends have been paid for 6 consecutive years.
- The dividend has grown 20.0% per year over the past 5 years.
HRZN Financials Horizon Technology Finance Corp
6 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | — | -$3M | — | — | — | $473M | $143M |
| 2024 | — | -$6M | — | — | — | $468M | $101M |
| 2023 | — | -$17M | — | — | — | $462M | $76M |
| 2022 | — | $21M | — | — | — | $434M | $30M |
| 2021 | — | $28M | — | — | — | $258M | $47M |
| 2020 | — | $6M | — | — | — | — | $48M |
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | — | $3M | — | — | — | $447M | $73M |
| Dec '25 | — | $9M | — | — | — | $473M | $143M |
| Sep '25 | — | $31M | — | — | — | $424M | $131M |
| Jun '25 | — | -$21M | — | — | — | $425M | $81M |
| Mar '25 | — | -$21M | — | — | — | $467M | $77M |
| Dec '24 | — | -$12M | — | — | — | $468M | $101M |
| Sep '24 | — | $7M | — | — | — | $434M | $87M |
| Jun '24 | — | -$9M | — | — | — | $443M | $117M |
| Mar '24 | — | $9M | — | — | — | $452M | $71M |
| Dec '23 | — | -$11M | — | — | — | $462M | $76M |
| Sep '23 | — | -$12M | — | — | — | $436M | $50M |
| Jun '23 | — | $152000 | — | — | — | $418M | $53M |
| Mar '23 | — | $5M | — | — | — | $440M | $47M |
| Dec '22 | — | $4M | — | — | — | $434M | $30M |
| Sep '22 | — | $6M | — | — | — | $359M | $33M |
| Jun '22 | — | $8M | — | — | — | — | $78M |
| Mar '22 | — | $4M | — | — | — | — | $16M |
| Dec '21 | — | $2M | — | — | — | $258M | $47M |
| Sep '21 | — | $13M | — | — | — | — | $44M |
Valuation over time
How the market has priced HRZN against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-earnings ratio has risen from 36.7× (Mar '23) to 42.5× (Dec '23).
- The dividend yield has risen from 3.8% (Mar '23) to 17.6% (Jun '26).
P/E
Dividend yield %
Frequently asked questions
Is HRZN growing its revenue and profit?
See the revenue and net-income charts above for Horizon Technology Finance Corp's multi-year trend.
How much debt does HRZN have?
As of FY2025, Horizon Technology Finance Corp reported $473M of total debt against $143M of cash.
What is HRZN's profit margin?
In FY2025, gross margin was —, operating margin —, and net margin —.
What is HRZN's P/E ratio?
As of Jun '26, Horizon Technology Finance Corp traded at a price-to-earnings ratio of about 42.5× (market cap ÷ latest annual net income). The valuation charts above show how its P/E and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.