Horizon Technology Finance Corporation

HRZN

We are a specialty finance company that lends to and invests in development-stage companies in the technology, life science, healthcare information and services and sustainability industries, which we refer to as our Target Industries. Our investment objective is to maximize our investment portfolio's total return by generating current income from the debt investments we make and capita…

Valuation & Multiples

Based on TTM earnings · Diluted shares

Market Cap$270M

EPS$0.46

P/E8.76

P/FCF–

EV/EBITDA–

FCF Yield–

Div. Yield19.51%

Net Debt/FCF–

Horizon Technology Finance Corporation intrinsic value

52-Week Range

$3.86$6.81

Profitability & Returns

TTM as of 2026-06 · YoY vs prior year · ROIC = NOPAT / invested capital

Revenue

N/A

Net Income (TTM)

$5M

▲ +52.8% YoY

Op. Margin

–

ROIC

–

Cash Flow & Balance Sheet

FCF = operating cash flow + capex · Net debt = total debt − cash · Balance sheet from latest filing

FCF

N/A

Op. Cash Flow (TTM)

$102M

▲ +1338.4% YoY

Net Debt

$267M

Cash & Equiv.

$135M

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Quality Scorecard

Is this a high-quality business?

Dividends

Payout safety and growth

Intrinsic Value

What is it worth?

Financials

Full income, cash flow, balance sheet

Held by ETFs

HRZN is in 1 US ETF. The largest of them, with HRZN's weight in each:

VPVirtus Private Credit Strategy ETFVPC3.59%of the fund

Horizon Technology Finance (HRZN) in three numbers

Fair value (earnings): $9.08; Price $4.03 is 56% below it.; Intrinsic Value
Dividend (TTM): $1.17; 19.51% yield, not raised in the latest year.; Dividends
P/E: 8.76; From the last twelve months of earnings.; Financials

Questions about Horizon Technology Finance

Is Horizon Technology Finance (HRZN) overvalued?

At $4.03, Horizon Technology Finance's price is 56% below the $9.08 a share fair value that Intrinsiqq's calculator gets from its earnings. It trades at 8.76 times earnings. The growth behind that figure is yours to set on the Intrinsic Value tab. See how to tell if a stock is overvalued.

What is Horizon Technology Finance's fair value?

Intrinsiqq's calculator puts Horizon Technology Finance's fair value at $9.08 a share. It grows earnings per share 20% a year for 5 years, applies an exit P/E of 12.2, and works back at a 10% yearly return. A 25% margin of safety gives a buy-below price of $6.81. Every input can be changed on the Intrinsic Value tab.

Does Horizon Technology Finance (HRZN) pay a dividend, and how much?

Yes. Horizon Technology Finance (HRZN) pays a dividend: $1.17 per share over the last twelve months, a dividend yield of 19.51% at the latest close. Its dividend per share has grown at 1.1% a year over the last 5 years. The payout takes about 1,040.0% of earnings. The Dividends tab has the full payment history and the safety score.

Source: 10-Q filed 4 Aug 2026 (period ending 30 Jun 2026), SEC. Price: last close 4 Nov 2026. How this is calculated. Sector medians are approximate S&P 500 benchmarks and update periodically. Analysis, not investment advice.

Spot a number that looks wrong? Check it in HRZN's SEC filings or

Download this analysis as a PDF (Pro)

Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.

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