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TPVG

TriplePoint Venture Growth BDCNYSE:TPVG Stock Report

Last Price

US$17.43

Market Cap

US$540.1m

7D

1.3%

1Y

29.6%

Updated

19 Jan, 2022

Data

Company Financials +
TPVG fundamental analysis
Snowflake Score
Valuation4/6
Future Growth1/6
Past Performance4/6
Financial Health2/6
Dividends3/6

TPVG Stock Overview

TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments.

TriplePoint Venture Growth BDC Competitors

Ares Capital

NasdaqGS:ARCC

US$9.9b

FS KKR Capital

NYSE:FSK

US$6.4b

Prospect Capital

NasdaqGS:PSEC

US$3.4b

Main Street Capital

NYSE:MAIN

US$3.1b

Price History & Performance

Summary of all time highs, changes and price drops for TriplePoint Venture Growth BDC
Historical stock prices
Current Share PriceUS$17.43
52 Week HighUS$19.25
52 Week LowUS$13.35
Beta1.79
1 Month Change3.01%
3 Month Change1.99%
1 Year Change29.59%
3 Year Change42.17%
5 Year Change30.17%
Change since IPO11.37%

Recent News & Updates

Nov 28

TriplePoint Venture Growth: 9% Yield, Outperforming The Market

TPVG yields 9.18%. It focuses on venture capital-backed growth companies. It has outperformed BDC averages, the broad Financial sector, and the S&P 500 over the past month, quarter, and so far in 2021.

Oct 26

Deeply Discounted 8.3% Yield: TriplePoint BDC

TPVG is the "income method" of investing in a hot SPAC merger and tech-IPO environment. Pandemic-tested 8.3% yield without a single dividend cut and periodic payment of special dividends. Attractively valued in an extremely hot space; over 13% capital upside based on valuation alone.

Sep 14

TriplePoint Venture Growth Pays Dividends Of 9.4% Annually With High Safety

TriplePoint stock sells about $15.40 and it has paid dividends quarterly that equal $1.44 per share per year since 2019. This return is less than the Standard & Poor's 500. However, it is unusually suited for those who want to accumulate cash as a hedge for their portfolio. The stock can be sold at any time, and it is very safe because the stock is sold at 85% of book value.

Aug 22

TriplePoint Venture Growth: 9% Yield On Venture Stage Companies

TPVG common yields 9.18% and goes ex-dividend on 8/30/21. It focuses on venture-capital backed growth companies. Q2 was one of its highest quarterly totals for new deals - its pipeline doubled vs. 1 year ago.

Jun 07

TriplePoint Venture Growth: 9% Yield From Venture Capital

TPVG operates in the very hot sector of advanced, venture capital-backed tech companies. While externally managed, the manager/sponsor is a seasoned venture capital firm itself, providing many benefits to TPVG. The investment pipeline is growing, and TPVG expects to make over $300 million of debt investments this year. The BDC has a strong track record of dividend coverage and solid investments. While roughly fairly valued, the dividend yield of 9%+ is attractive as a source of income.

May 05

TriplePoint Venture Growth declares $0.36 dividend

TriplePoint Venture Growth (TPVG) declares $0.36/share quarterly dividend, in line with previous.Forward yield 8.94%Payable June 30; for shareholders of record June 16; ex-div June 15.See TPVG Dividend Scorecard, Yield Chart, & Dividend Growth.

Shareholder Returns

TPVGUS Capital MarketsUS Market
7D1.3%-5.0%-3.5%
1Y29.6%25.7%10.2%

Return vs Industry: TPVG exceeded the US Capital Markets industry which returned 25.7% over the past year.

Return vs Market: TPVG exceeded the US Market which returned 10.2% over the past year.

Price Volatility

Is TPVG's price volatile compared to industry and market?
TPVG volatility
TPVG Average Weekly Movement3.1%
Capital Markets Industry Average Movement0.7%
Market Average Movement6.6%
10% most volatile stocks in US Market15.8%
10% least volatile stocks in US Market2.4%

Stable Share Price: TPVG is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: TPVG's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2013n/aJim Labehttps://www.tpvg.com

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 growth capital loans, secured and customized loans, equipment financings, revolving loans and direct equity investments. The fund seeks to invest in e-commerce, entertainment, technology and life sciences sector.

TriplePoint Venture Growth BDC Fundamentals Summary

How do TriplePoint Venture Growth BDC's earnings and revenue compare to its market cap?
TPVG fundamental statistics
Market CapUS$540.05m
Earnings (TTM)US$67.46m
Revenue (TTM)US$84.01m

8.0x

P/E Ratio

6.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
TPVG income statement (TTM)
RevenueUS$84.01m
Cost of RevenueUS$0
Gross ProfitUS$84.01m
ExpensesUS$16.55m
EarningsUS$67.46m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

Mar 03, 2022

Earnings per share (EPS)2.18
Gross Margin100.00%
Net Profit Margin80.30%
Debt/Equity Ratio81.7%

How did TPVG perform over the long term?

See historical performance and comparison

Dividends

8.3%

Current Dividend Yield

66%

Payout Ratio

Valuation

Is TriplePoint Venture Growth BDC undervalued compared to its fair value and its price relative to the market?

4.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TPVG ($17.43) is trading below our estimate of fair value ($18.22)

Significantly Below Fair Value: TPVG is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: TPVG is good value based on its PE Ratio (8x) compared to the US Capital Markets industry average (15.5x).

PE vs Market: TPVG is good value based on its PE Ratio (8x) compared to the US market (17x).


Price to Earnings Growth Ratio

PEG Ratio: TPVG's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: TPVG is good value based on its PB Ratio (1.3x) compared to the US Capital Markets industry average (42.2x).

Future Growth

How is TriplePoint Venture Growth BDC forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

-20.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TPVG's earnings are forecast to decline over the next 3 years (-20.6% per year).

Earnings vs Market: TPVG's earnings are forecast to decline over the next 3 years (-20.6% per year).

High Growth Earnings: TPVG's earnings are forecast to decline over the next 3 years.

Revenue vs Market: TPVG's revenue (15.6% per year) is forecast to grow faster than the US market (9.2% per year).

High Growth Revenue: TPVG's revenue (15.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TPVG's Return on Equity is forecast to be low in 3 years time (10.7%).

Past Performance

How has TriplePoint Venture Growth BDC performed over the past 5 years?

21.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TPVG has a large one-off gain of $27.4M impacting its September 30 2021 financial results.

Growing Profit Margin: TPVG's current net profit margins (80.3%) are higher than last year (41.7%).


Past Earnings Growth Analysis

Earnings Trend: TPVG's earnings have grown significantly by 21.3% per year over the past 5 years.

Accelerating Growth: TPVG's earnings growth over the past year (86.4%) exceeds its 5-year average (21.3% per year).

Earnings vs Industry: TPVG earnings growth over the past year (86.4%) exceeded the Capital Markets industry 86.4%.


Return on Equity

High ROE: TPVG's Return on Equity (15.6%) is considered low.

Financial Health

How is TriplePoint Venture Growth BDC's financial position?


Financial Position Analysis

Short Term Liabilities: TPVG's short term assets ($25.7M) exceed its short term liabilities ($8.8M).

Long Term Liabilities: TPVG's short term assets ($25.7M) do not cover its long term liabilities ($354.9M).


Debt to Equity History and Analysis

Debt Level: TPVG's net debt to equity ratio (76.3%) is considered high.

Reducing Debt: TPVG's debt to equity ratio has increased from 51.7% to 81.7% over the past 5 years.

Debt Coverage: TPVG's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: TPVG's interest payments on its debt are well covered by EBIT (3.5x coverage).


Balance Sheet

Dividend

What is TriplePoint Venture Growth BDC current dividend yield, its reliability and sustainability?

8.26%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: TPVG's dividend (8.26%) is higher than the bottom 25% of dividend payers in the US market (1.35%).

High Dividend: TPVG's dividend (8.26%) is in the top 25% of dividend payers in the US market (3.48%)


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, TPVG has been paying a dividend for less than 10 years.

Growing Dividend: TPVG's dividend payments have increased, but the company has only paid a dividend for 8 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (66%), TPVG's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: TPVG's dividends in 3 years are not forecast to be well covered by earnings (91.6% payout ratio).

Management

How experienced are the management team and are they aligned to shareholders interests?

9.0yrs

Average management tenure


CEO

Jim Labe (64 yo)

9yrs

Tenure

Mr. James P. Labe, also known as Jim, serves as Chief Executive Officer of TriplePoint Capital LLC. Mr. Labe has been Chairman and Chief Executive Officer of TriplePoint Venture Growth BDC since 2013. He i...


Leadership Team

Experienced Management: TPVG's management team is seasoned and experienced (9 years average tenure).


Board Members

Experienced Board: TPVG's board of directors are considered experienced (9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: TPVG insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

TriplePoint Venture Growth BDC Corp.'s employee growth, exchange listings and data sources


Key Information

  • Name: TriplePoint Venture Growth BDC Corp.
  • Ticker: TPVG
  • Exchange: NYSE
  • Founded: 2013
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Implied Market Cap: US$540.052m
  • Shares outstanding: 30.98m
  • Website: https://www.tpvg.com

Location

  • TriplePoint Venture Growth BDC Corp.
  • 2755 Sand Hill Road
  • Suite 150
  • Menlo Park
  • California
  • 94025
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/19 00:09
End of Day Share Price2022/01/18 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.