TriplePoint Venture Growth BDC Corp
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TriplePoint Venture Growth BDC Corp AI Insights
Informational only. Not investment advice.Snapshot
- Trading at 0.72x book value (P/B) while paying 13.6% dividend yield (1.13/share TTM) - market pricing significant NAV risk[Price to Book Ratio]
- EPS collapsed -33% YoY despite 3Y CAGR of 236% - venture credit cycle turning sharply negative[EPS Growth 1Y]
- FCF of -41M TTM while paying 45.7M in dividends - distribution funded by balance sheet, not operations[Free Cash Flow TTM]
Watch Triggers
- Dividends Paid Per Share TTM: Reduction below $1.00/share annualized — Would confirm cash flow stress and likely trigger 15-20% price decline
- Net Income TTM: Decline below $25M (25% drop from current) — Signals credit losses accelerating beyond current EPS trajectory
- Book Value Per Share: Drop below $8.00 (9% decline) — NAV erosion would validate market's 28% discount to book
Bull Case
Net margin 77% (vs industry median 95%) with ROE 9.4% above median 8.6% - core lending business profitable if credit holds
P/E 7.6x vs industry 11.9x and P/B 0.72x - if NAV stabilizes, 28% upside to book value alone
Bear Case
Negative FCF (-41M) funding 13.6% yield is unsustainable - dividend cut would crush yield-seeking shareholders
Debt 1.32x equity with only 20M cash while venture credit deteriorates - limited buffer for portfolio losses
Bull vs Bear Balance
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Forward Thesis
Dividend cut likely within 12 months as negative FCF forces capital preservation
- FCF -41M vs dividends paid 45.7M = 87M annual cash burn
- Debt/equity 1.32x limits new borrowing capacity
- Venture portfolio stress rising with EPS down 33% YoY
Valuation Context
Caveats
Public Strategies Rankings
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TPVG Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$205.66M | — | ||
$654.38M | — | ||
4.2 | — | ||
$57.38M | +26.0% | — | |
$1.22 | +48.8% | — | |
0% | — | ||
85.8% | +15.4% | — | |
$-57.03M | — | ||
14.1% | +4.8% | — | |
Beta 5Y (Monthly) | unknown | — |
TPVG Dividend History
2026
$0.23002025
$1.08002024
$1.40002023
$1.60002022
$1.55002021
$1.44002020
$1.54002019
$1.44002018
$1.54002017
$1.44002016
$1.44002015
$1.44002014
$1.2200TPVG Stock Splits
TPVG SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
03/04/26 | 12/31/25 | Unknown | |
11/05/25 | 09/30/25 | 10-Q | |
08/06/25 | 06/30/25 | 10-Q | |
05/07/25 | 03/31/25 | 10-Q | |
03/05/25 | 12/31/24 | Unknown | |
11/06/24 | 09/30/24 | 10-Q | |
08/07/24 | 06/30/24 | 10-Q | |
05/01/24 | 03/31/24 | 10-Q | |
03/06/24 | 12/31/23 | 10-K | |
11/01/23 | 09/30/23 | 10-Q | |
08/02/23 | 06/30/23 | 10-Q | |
05/03/23 | 03/31/23 | 10-Q | |
03/01/23 | 12/31/22 | 10-K | |
11/02/22 | 09/30/22 | 10-Q | |
08/03/22 | 06/30/22 | 10-Q | |
05/04/22 | 03/31/22 | 10-Q | |
03/02/22 | 12/31/21 | 10-K | |
11/03/21 | 09/30/21 | 10-Q | |
08/04/21 | 06/30/21 | 10-Q | |
05/05/21 | 03/31/21 | 10-Q | |
03/03/21 | 12/31/20 | 10-K | |
11/05/20 | 09/30/20 | 10-Q | |
08/05/20 | 06/30/20 | 10-Q | |
05/06/20 | 03/31/20 | 10-Q | |
03/04/20 | 12/31/19 | 10-K | |
11/06/19 | 09/30/19 | 10-Q | |
07/31/19 | 06/30/19 | 10-Q | |
05/02/19 | 03/31/19 | 10-Q | |
03/06/19 | 12/31/18 | 10-K | |
10/31/18 | 09/30/18 | 10-Q | |
08/01/18 | 06/30/18 | 10-Q | |
05/02/18 | 03/31/18 | 10-Q | |
03/12/18 | 12/31/17 | 10-K | |
11/06/17 | 09/30/17 | 10-Q | |
08/08/17 | 06/30/17 | 10-Q | |
05/09/17 | 03/31/17 | 10-Q | |
03/13/17 | 12/31/16 | 10-K | |
11/07/16 | 09/30/16 | 10-Q | |
08/08/16 | 06/30/16 | 10-Q | |
05/10/16 | 03/31/16 | 10-Q | |
03/14/16 | 12/31/15 | 10-K | |
11/10/15 | 09/30/15 | 10-Q | |
08/11/15 | 06/30/15 | 10-Q | |
05/06/15 | 03/31/15 | 10-Q | |
12/31/14 | 12/31/14 | 10-K | |
10/27/14 | 09/30/14 | 10-Q | |
08/11/14 | 06/30/14 | 10-Q | |
03/31/14 | 03/31/14 | 10-Q |