# BlackRock TCP Capital Corp. (TCPC)

> Source: Nexqual · https://nexqual.com/TCPC · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, BlackRock TCP Capital Corp. (TCPC), nexqual.com/TCPC" · informational, not investment advice.

**Price:** USD 4.22 (+1.69% on the day) · last close of Oct 29, 2026; US market closed, not a live price. Prev close 4.15 · day 4.15–4.23 · 52w 3.08–6.25 · market cap $354M · NMS

## Key facts
- Analysts: Hold (mean 3.00 on a 1–5 scale) (4 analysts), mean target USD 4.5 (range 4–5.5).
- Total return with dividends: 1Y -12.6% vs S&P 500 +14.8%; 5Y -39.8% vs S&P 500 +79.1%.
- Next earnings: 2026-11-05, EPS estimate USD 0.13, revenue estimate $27.5M. All companies reporting that day: https://nexqual.com/earnings/2026-11-05
- Dividend: USD 0.76 a year (yield 18.23%), paid quarterly; latest ex-dividend date 2026-09-16; annual dividends fell 4.1% a year 2022–2025.
- Short interest: 6.93% of float (as of 2026-10-15), 7.4 days to cover.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/B 0.6x · Earnings yield -31.15% · Dividend yield (paid, TTM) 21.37% · Buyback yield (TTM) 1.60% · Net debt $753M · EV $1.10B
P/E at fiscal year-ends: Dec 2023 17.3x.

## Analysts
Consensus Hold (mean 3.00 on a 1–5 scale), 4 analysts; mean target USD 4.5 (low 4, high 5.5).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-29 | Wells Fargo | Upgrade | Underweight → Equal-Weight | $3.5 → $4 |
| 2026-08-10 | Keefe, Bruyette & Woods | Upgrade | Underperform → Market Perform | $3.5 → $4 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -12.6% | -39.8% |
| S&P 500 (SPY) | +14.8% | +79.1% |
| Per year | -12.6% | -9.6% |
| Volatility (annualized) | 39.2% | 29.3% |
| Max drawdown | -41.9% (Dec 2025→Jul 2026) | -60.0% (Jan 2024→Jul 2026) |

## Dividends
Annual dividend rate USD 0.76 per share, yield 18.23% at the current price. Paid over the last 12 months: USD 0.76 in 4 payments (quarterly).
Most recent ex-dividend date: Sep 16, 2026; payment date: Sep 30, 2026. To receive a dividend, shares must be owned before the ex-dividend date.
Latest change: cut 32.0% to USD 0.17 per payment from USD 0.25, starting with the Mar 17, 2026 ex-dividend date.
Payout ratio 389% of earnings (above 100%: dividends exceeded net income; for REITs and partnerships, cash-flow measures are more relevant) · 5-year average yield 12.79% · annual dividends fell 4.1% a year from 2022 to 2025.
| Ex-dividend date | Amount per share |
|---|---|
| 2026-09-16 | USD 0.17 |
| 2026-06-16 | USD 0.17 |
| 2026-03-17 | USD 0.17 |
| 2025-12-17 | USD 0.25 |
| 2025-09-16 | USD 0.29 |
| 2025-06-16 | USD 0.29 |
| 2025-03-17 | USD 0.29 |
| 2024-12-17 | USD 0.44 |
Total by calendar year: 2022 USD 1.27 · 2023 USD 1.69 · 2024 USD 1.46 · 2025 USD 1.12.

## Short interest
5,792,194 shares sold short, 6.93% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 4,867,713 shares (+19.0%). Days to cover: 7.4 (short shares ÷ average daily volume).

## Peers (Asset Management)
BXSL (Blackstone Secured Lending Fund) USD 23.52 +1.38% · PDI (PIMCO Dynamic Income Fund) USD 14.33 +1.63% · VCTR (Victory Capital Holdings, Inc. ) USD 113.81 +1.73% · AMG (Affiliated Managers Group, Inc.) USD 399.02 +1.47% · SEIC (SEI Investments Company) USD 104.73 +1.48% · IVZ (Invesco Ltd) USD 29.02 +1.19%

## More
Full page: https://nexqual.com/TCPC · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name TCPC in their own reports (relationship from TCPC's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | NewtekOne, Inc. (NEWTG) | 10-K 2026-03-10 | "NCL JV was a 50/50 joint venture between Newtek Commercial Lending, Inc. (NCL) a wholly-owned subsidiary of NewtekOne, and Conventional Lending TCP Holding, LLC, a wholly-owned, indirect subsidiary of…" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.13 | $0.20 | -38.3% | $27.5M | 4 |
| Next quarter (ends 2026-12-31) | $0.10 | $0.20 | -48.8% | $19.7M | 4 |
| Current fiscal year (ends 2026-12-31) | $0.66 | $0.82 | -19.9% | $129.4M | 4 |
| Next fiscal year (ends 2027-12-31) | $0.42 | $0.71 | -41.0% | $82.0M | 4 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $0.22 | $0.20 | Beat +10.0% | — |
| — | Quarter ended Mar 31, 2026 | $0.22 | $0.20 | Beat +10.0% | — |
| — | Quarter ended Dec 31, 2025 | $0.28 | $0.27 | Beat +3.7% | — |
| — | Quarter ended Sep 30, 2025 | $0.32 | $0.30 | Beat +6.7% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).