BlackRock TCP Capital Corp (TCPC) Fair Value & Analysis
Financial Services · US · Market cap $271M
BlackRock TCP Capital Corp
TCPC · US
Fair value as of: Jul 27, 2026
From 2 valuation models · updated 15 days ago
Share price +29.2% over the past month.
Below-average quality, screening 16% undervalued on our models.
What matters now
- A fairly wide model range ($3.56 to $7.13) leaves room in how you read the outcome.
- Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 27, 2026.
How to read this chart
60‑month range $3.13 – $8.41 · fair‑value band $3.56 – $7.13 · the $4.11 price screens below the $4.78 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 27, 2026.
Analysis
BlackRock TCP Capital Corp (TCPC) currently trades at $4.11, while our model-based Fair Value estimate is $4.78, implying the stock looks roughly 16.3% undervalued today. The Quality Score stands at 36/100 (below-average quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: low), always confirm before acting.
Over the trailing twelve months, BlackRock TCP Capital Corp generated revenue of $188M at a net margin of -66.9%. Revenue declined 23.8% year over year. It earns a return on equity of -18.7%. Net debt stands at $974M. Fundamentals as of Jul 27, 2026
Our scenario range runs from $3.56 (bear case) to $7.13 (bull case); at $4.11, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 38% below its 52-week high and 27% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -12% fair-value upside, at 16%, TCPC screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 2 models by family
Widest divergence: Multiples ($6.06) versus Asset-Based ($4.78). Highest evidence: P/B Multiple (55).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 27, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 34 · Market factors (momentum, volatility) 30
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, small businesses, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments.
Full company description
BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, small businesses, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals. It seeks to invest in the United States. The fund typically invests in debt between $10 million and $35 million in companies with enterprise values between $100 million and $1500 million including complex situations. It prefers to make equity investments in companies for an ownership stake.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
BlackRock TCP Capital Corp reported revenue of −$76.3M in FY2025 versus $153M in FY2021. Reported net income was −$88.9M in FY2025.
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Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- BlackRock TCP Capital Corp. Q2 2026 Earnings Call Summary
- BlackRock TCP (TCPC) Upgraded to Buy: Here's Why
- BlackRock Private Credit Fund CEO Departs During Valuation Probe, Mounting Losses
- Phil Tseng to leave BlackRock TCP Capital CEO post - Bloomberg
Peer Group
Asset Management · 971 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Asset Management median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Asset Management stocks, each showing price versus our Fair Value estimate (as of Jul 27, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Fondul Proprietatea SA FP | $0.0420 | $0.0800 | +90% |
| BlackRock, Inc BLK | $1,136 | $465.75 | -59% |
| Blackstone Inc BX | $124.56 | $16.35 | -87% |
| Investor AB INVEB | kr 423.70 | kr 847.40 | +100% |
| Brookfield Corporation BN | C$62.45 | C$10.12 | -84% |
| KKR & Co KKR | $100.94 | $44.88 | -56% |
| AB Industrivärden INDUA | kr 532.50 | kr 1,065 | +100% |
| Jio Financial Services Limited JIOFIN | ₹242.98 | ₹40.19 | -83% |
| Hedef Holding HEDEF | 267.25 TRY | 320.98 TRY | +20% |
| Bajaj Holdings BAJAJHLDNG | ₹10,398 | ₹9,202 | -12% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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