Stock HRZN HORIZON TECHNOLOGY FINANCE CORPORATION
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Financials Horizon Technology Finance Corporation

Equities

HRZN

US44045A1025

Closed End Funds

Market Closed - Nasdaq
Other stock markets
 04:00:00 2024-04-26 pm EDT 		5-day change 1st Jan Change
11.64 USD +0.95% Intraday chart for Horizon Technology Finance Corporation +1.31% -11.62%
Mar. 18 UBS Trims Horizon Technology Finance Price Target to $10.50 From $11.50, Maintains Neutral Rating MT
Mar. 12 Keefe, Bruyette & Woods Trims Price Target on Horizon Technology Finance to $9.50 From $10, Maintains Underperform Rating MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 188.4 243.2 325.2 306.3 439 407.6 - -
Enterprise Value (EV) 1 334 243.2 325.2 306.3 439 407.6 407.6 407.6
P/E ratio 8.92 x 36.8 x 11.5 x 13.5 x -23.5 x 7.93 x 8.23 x 8.58 x
Yield 9.28% 9.44% 7.54% 11% - 11.5% 11.6% 11.3%
Capitalization / Revenue 4.37 x 5.28 x 5.42 x 3.87 x 3.87 x 3.68 x 3.69 x -
EV / Revenue 4.37 x 5.28 x 5.42 x 3.87 x 3.87 x 3.68 x 3.69 x -
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 1.09 x 1.2 x 1.38 x 1.01 x - 1.2 x 1.18 x 1.2 x
Nbr of stocks (in thousands) 14,571 18,368 20,427 26,401 33,331 35,021 - -
Reference price 2 12.93 13.24 15.92 11.60 13.17 11.64 11.64 11.64
Announcement Date 3/3/20 3/2/21 3/1/22 2/28/23 2/27/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 43.12 46.04 60.02 79.19 113.5 110.9 110.5 -
EBITDA - - - - - - - -
EBIT - - - - - - - -
Operating Margin - - - - - - - -
Earnings before Tax (EBT) 1 19.74 - - - - 57.28 53.96 -
Net income 1 19.5 6.364 27.78 21.15 -17.18 50.5 50.92 -
Net margin 45.21% 13.82% 46.29% 26.71% -15.14% 45.55% 46.07% -
EPS 2 1.450 0.3600 1.390 0.8600 -0.5600 1.467 1.415 1.357
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 1.200 1.250 1.200 1.280 - 1.340 1.352 1.320
Announcement Date 3/3/20 3/2/21 3/1/22 2/28/23 2/27/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 16.37 16.94 14.2 18.59 23.25 23.14 28.04 28.12 29.14 28.18 26.8 27.67 28.21 28.46 26.89
EBITDA - - - - - - - - - - - - - - -
EBIT - - - - - - - - - - - - - - -
Operating Margin - - - - - - - - - - - - - - -
Earnings before Tax (EBT) 1 8.103 8.286 5.829 8.688 11.24 3.61 13.2 16.25 17.53 15.96 14.19 14.37 14.42 14.3 13.09
Net income 1 12.77 2.266 3.522 7.617 5.993 4.019 5.306 0.152 -11.98 -10.66 12.57 12.54 12.97 12.67 11.75
Net margin 78% 13.37% 24.8% 40.98% 25.77% 17.36% 18.92% 0.54% -41.11% -37.83% 46.88% 45.33% 45.96% 44.5% 43.69%
EPS 2 0.6300 0.1100 0.1600 0.3100 0.2300 0.1500 0.1900 0.0100 -0.3700 -0.3200 0.3740 0.3586 0.3687 0.3663 0.3414
Dividend per Share 2 0.3000 0.3000 0.3000 0.3000 0.3000 0.3800 0.3300 0.3300 0.3300 - 0.3467 0.3300 0.3300 0.3333 0.3400
Announcement Date 10/26/21 3/1/22 5/3/22 8/2/22 11/1/22 2/28/23 5/2/23 8/1/23 10/31/23 2/27/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 146 - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 12.9% 10.5% 12.3% 7.5% - 15% 14.1% 14%
ROA (Net income/ Total Assets) - 1.69% 12.1% 3.3% - 9.4% 5.5% -
Assets 1 - 375.6 229 640.4 - 537.1 925.9 -
Book Value Per Share 2 11.80 11.00 11.60 11.50 - 9.700 9.870 9.700
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 3/3/20 3/2/21 3/1/22 2/28/23 2/27/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Horizon Technology Finance Corporation

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
8
Last Close Price
11.64 USD
Average target price
10.61 USD
Spread / Average Target
-8.87%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Closed End Funds
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  4. Financials Horizon Technology Finance Corporation