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Side-by-side financial comparison of Advanced Flower Capital Inc. (AFCG) and Hercules Capital, Inc. (HTGC). Click either name above to swap in a different company.
Hercules Capital, Inc. is the larger business by last-quarter revenue ($131.6M vs $5.2M, roughly 25.4× Advanced Flower Capital Inc.). Hercules Capital, Inc. runs the higher net margin — 69.0% vs 17.6%, a 51.4% gap on every dollar of revenue. On growth, Hercules Capital, Inc. posted the faster year-over-year revenue change (14.6% vs -32.1%). Over the past eight quarters, Hercules Capital, Inc.'s revenue compounded faster (6.6% CAGR vs -36.2%).
Cerberus Capital Management, L.P. is an American global alternative investment firm with assets across credit, private equity, and real estate strategies. The firm is based in New York City, and run by Steve Feinberg, who co-founded Cerberus in 1992, with William L. Richter, who serves as a senior managing director. The firm has affiliate and advisory offices in the United States, Europe and Asia.
Hercules, Inc. was a chemical and munitions manufacturing company based in Wilmington, Delaware, United States, incorporated in 1912 as the Hercules Powder Company following the breakup of the DuPont explosives monopoly by the U.S. Circuit Court in 1911. Hercules Powder Company became Hercules, Inc. in 1966, operating under this name until 2008, when it was merged into Ashland Inc.
AFCG vs HTGC — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $5.2M | $131.6M |
| Net Profit | $914.0K | $90.8M |
| Gross Margin | — | — |
| Operating Margin | 23.2% | — |
| Net Margin | 17.6% | 69.0% |
| Revenue YoY | -32.1% | 14.6% |
| Net Profit YoY | 192.2% | 47.8% |
| EPS (diluted) | $0.04 | $0.50 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $5.2M | $131.6M | ||
| Q3 25 | $6.5M | $131.2M | ||
| Q2 25 | $6.2M | $129.6M | ||
| Q1 25 | $6.6M | $115.6M | ||
| Q4 24 | $7.6M | $114.8M | ||
| Q3 24 | $8.9M | $119.0M | ||
| Q2 24 | $16.4M | $117.5M | ||
| Q1 24 | $12.7M | $115.8M |
| Q4 25 | $914.0K | $90.8M | ||
| Q3 25 | $-12.5M | $119.7M | ||
| Q2 25 | $-13.2M | $78.9M | ||
| Q1 25 | $4.1M | $50.3M | ||
| Q4 24 | $-991.5K | $61.4M | ||
| Q3 24 | $1.4M | $68.7M | ||
| Q2 24 | $16.4M | $41.9M | ||
| Q1 24 | $-54.1K | $91.0M |
| Q4 25 | 23.2% | — | ||
| Q3 25 | -204.6% | — | ||
| Q2 25 | -214.4% | — | ||
| Q1 25 | 62.9% | — | ||
| Q4 24 | -18.0% | — | ||
| Q3 24 | 18.1% | — | ||
| Q2 24 | 94.4% | — | ||
| Q1 24 | -11.1% | — |
| Q4 25 | 17.6% | 69.0% | ||
| Q3 25 | -191.3% | 91.3% | ||
| Q2 25 | -212.2% | 60.9% | ||
| Q1 25 | 61.2% | 43.6% | ||
| Q4 24 | -13.0% | 53.5% | ||
| Q3 24 | 15.6% | 57.7% | ||
| Q2 24 | 100.3% | 35.6% | ||
| Q1 24 | -0.4% | 78.6% |
| Q4 25 | $0.04 | $0.50 | ||
| Q3 25 | $-0.57 | $0.63 | ||
| Q2 25 | $-0.60 | $0.43 | ||
| Q1 25 | $0.18 | $0.29 | ||
| Q4 24 | $-0.07 | $0.37 | ||
| Q3 24 | $0.06 | $0.42 | ||
| Q2 24 | $0.80 | $0.25 | ||
| Q1 24 | $-0.01 | $0.57 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $38.6M | $56.9M |
| Total DebtLower is stronger | — | $2.3B |
| Stockholders' EquityBook value | $175.6M | $2.2B |
| Total Assets | $275.6M | $4.6B |
| Debt / EquityLower = less leverage | — | 1.03× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $38.6M | $56.9M | ||
| Q3 25 | $45.1M | $29.3M | ||
| Q2 25 | $3.4M | $52.1M | ||
| Q1 25 | $3.3M | $49.4M | ||
| Q4 24 | $103.6M | $42.7M | ||
| Q3 24 | $122.2M | $38.9M | ||
| Q2 24 | $170.3M | $27.7M | ||
| Q1 24 | $82.3M | $50.2M |
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.7B | ||
| Q1 24 | — | $1.8B |
| Q4 25 | $175.6M | $2.2B | ||
| Q3 25 | $169.3M | $2.2B | ||
| Q2 25 | $184.7M | $2.2B | ||
| Q1 25 | $200.8M | $2.0B | ||
| Q4 24 | $201.4M | $2.0B | ||
| Q3 24 | $206.1M | $1.9B | ||
| Q2 24 | $314.3M | $1.9B | ||
| Q1 24 | $310.6M | $1.9B |
| Q4 25 | $275.6M | $4.6B | ||
| Q3 25 | $288.7M | $4.4B | ||
| Q2 25 | $290.6M | $4.3B | ||
| Q1 25 | $321.7M | $4.0B | ||
| Q4 24 | $402.1M | $3.8B | ||
| Q3 24 | $366.6M | $3.7B | ||
| Q2 24 | $458.0M | $3.7B | ||
| Q1 24 | $476.4M | $3.7B |
| Q4 25 | — | 1.03× | ||
| Q3 25 | — | 0.98× | ||
| Q2 25 | — | 0.96× | ||
| Q1 25 | — | 0.99× | ||
| Q4 24 | — | 0.89× | ||
| Q3 24 | — | 0.94× | ||
| Q2 24 | — | 0.94× | ||
| Q1 24 | — | 0.93× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-560.9K | $-55.6M |
| Free Cash FlowOCF − Capex | — | $-55.6M |
| FCF MarginFCF / Revenue | — | -42.3% |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | -0.61× | -0.61× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-425.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-560.9K | $-55.6M | ||
| Q3 25 | $6.1M | $-3.2M | ||
| Q2 25 | $1.8M | $-144.8M | ||
| Q1 25 | $3.9M | $-222.2M | ||
| Q4 24 | $2.2M | $-29.2M | ||
| Q3 24 | $2.6M | $92.6M | ||
| Q2 24 | $10.3M | $59.5M | ||
| Q1 24 | $6.4M | $-240.9M |
| Q4 25 | — | $-55.6M | ||
| Q3 25 | — | $-3.2M | ||
| Q2 25 | — | $-144.8M | ||
| Q1 25 | — | $-222.2M | ||
| Q4 24 | — | $-29.2M | ||
| Q3 24 | — | $92.5M | ||
| Q2 24 | — | $59.1M | ||
| Q1 24 | — | $-241.2M |
| Q4 25 | — | -42.3% | ||
| Q3 25 | — | -2.4% | ||
| Q2 25 | — | -111.8% | ||
| Q1 25 | — | -192.3% | ||
| Q4 24 | — | -25.5% | ||
| Q3 24 | — | 77.7% | ||
| Q2 24 | — | 50.3% | ||
| Q1 24 | — | -208.3% |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 0.0% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | 0.3% |
| Q4 25 | -0.61× | -0.61× | ||
| Q3 25 | — | -0.03× | ||
| Q2 25 | — | -1.84× | ||
| Q1 25 | 0.96× | -4.41× | ||
| Q4 24 | — | -0.48× | ||
| Q3 24 | 1.91× | 1.35× | ||
| Q2 24 | 0.63× | 1.42× | ||
| Q1 24 | — | -2.65× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
