| Snowflake Score | |
|---|---|
| Valuation | 4/6 |
| Future Growth | 1/6 |
| Past Performance | 4/6 |
| Financial Health | 2/6 |
| Dividends | 3/6 |
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
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$17.43 |
| 52 Week High | US$19.25 |
| 52 Week Low | US$13.35 |
| Beta | 1.79 |
| 1 Month Change | 3.01% |
| 3 Month Change | 1.99% |
| 1 Year Change | 29.59% |
| 3 Year Change | 42.17% |
| 5 Year Change | 30.17% |
| Change since IPO | 11.37% |
Recent News & Updates
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.
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.
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.
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.
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.
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
| TPVG | US Capital Markets | US Market | |
|---|---|---|---|
| 7D | 1.3% | -5.0% | -3.5% |
| 1Y | 29.6% | 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
| TPVG volatility | |
|---|---|
| TPVG Average Weekly Movement | 3.1% |
| Capital Markets Industry Average Movement | 0.7% |
| Market Average Movement | 6.6% |
| 10% most volatile stocks in US Market | 15.8% |
| 10% least volatile stocks in US Market | 2.4% |
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
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2013 | n/a | Jim Labe | https://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
| TPVG fundamental statistics | |
|---|---|
| Market Cap | US$540.05m |
| Earnings (TTM) | US$67.46m |
| Revenue (TTM) | US$84.01m |
8.0x
P/E Ratio6.4x
P/S RatioIs TPVG overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| TPVG income statement (TTM) | |
|---|---|
| Revenue | US$84.01m |
| Cost of Revenue | US$0 |
| Gross Profit | US$84.01m |
| Expenses | US$16.55m |
| Earnings | US$67.46m |
Last Reported Earnings
Sep 30, 2021
Next Earnings Date
Mar 03, 2022
| Earnings per share (EPS) | 2.18 |
| Gross Margin | 100.00% |
| Net Profit Margin | 80.30% |
| Debt/Equity Ratio | 81.7% |
How did TPVG perform over the long term?
See historical performance and comparisonDividends
8.3%
Current Dividend Yield66%
Payout RatioValuation
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
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/01/19 00:09 |
| End of Day Share Price | 2022/01/18 00:00 |
| Earnings | 2021/09/30 |
| Annual Earnings | 2020/12/31 |
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.