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TCPC 
BlackRock TCP Capital Corp (TCPC)
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Upturn Advisory Summary
11/05/2025: TCPC (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
5 Analysts rated it
Limited analyst coverage, niche firm, research info may be scarce.
1 Year Target Price $7.17
1 Year Target Price $7.17
| 0 | Strong Buy |
| 0 | Buy |
| 4 | Hold |
| 0 | Sell |
| 1 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -2.32% | Avg. Invested days 61 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 11/05/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 484.71M USD | Price to earnings Ratio - | 1Y Target Price 7.17 |
Price to earnings Ratio - | 1Y Target Price 7.17 | ||
Volume (30-day avg) 5 | Beta 0.9 | 52 Weeks Range 5.38 - 8.57 | Updated Date 11/7/2025 |
52 Weeks Range 5.38 - 8.57 | Updated Date 11/7/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -0.1 |
Earnings Date
Report Date 2025-10-30 | When - | Estimate 0.2981 | Actual 0.32 |
Profitability
Profit Margin -4.98% | Operating Margin (TTM) 86.82% |
Management Effectiveness
Return on Assets (TTM) 6.06% | Return on Equity (TTM) -1.48% |
Valuation
Trailing PE - | Forward PE 6.65 | Enterprise Value 1558833792 | Price to Sales(TTM) 2.02 |
Enterprise Value 1558833792 | Price to Sales(TTM) 2.02 | ||
Enterprise Value to Revenue 413.07 | Enterprise Value to EBITDA - | Shares Outstanding 85036467 | Shares Floating - |
Shares Outstanding 85036467 | Shares Floating - | ||
Percent Insiders 0.32 | Percent Institutions 25 |
Upturn AI SWOT
BlackRock TCP Capital Corp
Company Overview
History and Background
BlackRock TCP Capital Corp. (TCPC) was founded in 2012, originating from TCP Capital Corp, which itself was established in 1999. It focuses on providing financing to middle-market companies.
Core Business Areas
- Direct Lending: Providing senior secured loans, mezzanine debt, and equity to middle-market companies.
- Investment Management: Managing a portfolio of investments across various industries.
Leadership and Structure
BlackRock TCP Capital Corp is led by Howard T. Widra (CEO), along with a management team experienced in credit and investment management. It operates as a business development company (BDC).
Top Products and Market Share
Key Offerings
- Senior Secured Loans: Provides financing to middle-market companies, often as first-lien or second-lien loans. Market share data is difficult to obtain due to the fragmented nature of the middle-market lending space, but TCPC competes with other BDCs and private credit funds. Competitors: Ares Capital, Main Street Capital.
- Mezzanine Debt: Offers subordinated debt financing, which typically carries higher interest rates and potential equity participation. Market share data is challenging to determine. Competitors: Goldman Sachs BDC, Golub Capital BDC.
- Equity Investments: Minority equity investments alongside debt financings. Market share data is challenging to determine. Competitors: Ares Capital, Main Street Capital, Golub Capital BDC.
Market Dynamics
Industry Overview
The BDC industry is driven by demand for capital from middle-market companies that may not have access to traditional bank financing. Regulatory changes and economic conditions heavily influence the sector.
Positioning
TCPC focuses on secured lending to established companies, emphasizing risk management. Its competitive advantages include BlackRock's brand and resources, but also faces fierce competition from other BDCs.
Total Addressable Market (TAM)
The TAM for middle-market lending is estimated to be in the hundreds of billions of dollars. TCPC is positioned to capture a portion of this market through its lending activities.
Upturn SWOT Analysis
Strengths
- Strong Origination Platform
- Experienced Management Team
- Access to BlackRock's Resources
- Diversified Investment Portfolio
Weaknesses
- Sensitivity to Interest Rate Changes
- Reliance on External Financing
- Credit Risk in Portfolio Companies
- Dependence on macroeconomic health
Opportunities
- Increased Demand for Middle-Market Financing
- Expansion into New Industries
- Strategic Partnerships
- Growing Private Credit Market
Threats
- Economic Downturn
- Increased Competition
- Regulatory Changes
- Rising Interest Rates
Competitors and Market Share
Key Competitors
- ARCC
- MAIN
- GSLD
- FDUS
- ORCC
Competitive Landscape
TCPC faces intense competition from other BDCs. While benefiting from BlackRock's scale, it needs to maintain strong credit quality to stand out. ARCC has a much larger scale, allowing for more diversification and potentially lower cost of capital.
Growth Trajectory and Initiatives
Historical Growth: Historical growth data is dynamic. Replace below with latest report
Future Projections: Future Projections data is dynamic. Replace below with latest report
Recent Initiatives: Recent Initiatives data is dynamic. Replace below with latest report
Summary
BlackRock TCP Capital Corp is a middle-market lender operating in a competitive BDC landscape. Access to the BlackRock brand gives them an edge. The company needs to carefully manage credit risk amid potential economic headwinds. Macroeconomic conditions significantly affect performance.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Company SEC Filings
- Investor Presentations
- Analyst Reports
Disclaimers:
This analysis is for informational purposes only and should not be considered investment advice. Market share estimates are approximate and subject to change.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About BlackRock TCP Capital Corp
Exchange NASDAQ | Headquaters Santa Monica, CA, United States | ||
IPO Launch date 2012-04-04 | MD, CEO, Co-Chief Investment Officer & Chairman Mr. Philip M. Tseng | ||
Sector Financial Services | Industry Asset Management | Full time employees - | Website https://www.tcpcapital.com |
Full time employees - | Website https://www.tcpcapital.com | ||
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 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.
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