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WhiteHorse Finance, Inc.

WHF

$8.22 ▼ -0.24 (-2.78%) at close

8 Visible periods

18 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Fair

Bearish

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Analytical Summary

WhiteHorse Finance, Inc. faces fundamental challenges with weakness in Debt to Equity. The fundamentals warrant careful consideration of downside risks.

Market Cap $190.5M

Dividend Yield 17.52%

Revenue Growth —

Op. Margin —

ROIC —

FCF / Share $3.33 →

Trailing P/E 13.3x

Price / Book 0.7x

FCF Yield 40.6%

Debt / Equity 1.25

info Valuation on last close. End-of-day price, Nov 5, 2026.

8-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Net Income Profit after all expenses

$14.34M

↑ +32.1% —

FCF / Share Free cash flow per share

$3.33

↓ -1.6% —

Long-Term Debt Long-term obligations

$323.83M

↓ -8.3% —

trending_up

Bullish Indicators

No bullish signals detected.

warning

Bearish Risks

Debt to EquityDebt to Equity is concerning (bottom quartile)

Health Breakdown

Returns ↓

Financial Health ↓

Cash Quality

Dividend History

Dividend / share · sourced from SEC filings

$1.44 Latest / share

-19.6% YoY

-1.5% 6-yr CAGR

FY 2018

FY 2019

$1.55

FY 2020

$1.56

FY 2021

$1.47

FY 2022

$1.55

FY 2023

$1.79

FY 2024

$1.44

FY 2025

Financial view

Statement lens

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Cadence

Annual Quarterly

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📈 Is growth accelerating? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
EPS Growth YoY (%)	31.9% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-46.6% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	29.4% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-52.1% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	-8.4% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	—	—	—
Net Income Growth YoY (%)	32.1% Excellent ↑ Excellent Improving Year-over-year change in net income	-46.8% Weak ↓ Weak Declining Year-over-year change in net income	30.2% Excellent ↑ Excellent Improving Year-over-year change in net income	-47.9% Weak Weak Year-over-year change in net income	-5.0% Weak Weak Year-over-year change in net income	—	—	—
FCF Growth YoY (%)	-1.6% Weak ↓ Weak Declining Year-over-year change in free cash flow	-12.8% Weak ↓ Weak Declining Year-over-year change in free cash flow	25.4% Excellent Excellent Year-over-year change in free cash flow	N/M	-35.6% Weak Weak Year-over-year change in free cash flow	—	—	—
EPS CAGR 3Y (%)	-3.0% Weak ↑ Weak Improving Compound annual EPS growth over 3 years	-30.8% Weak Weak Compound annual EPS growth over 3 years	-17.2% Weak Weak Compound annual EPS growth over 3 years	—	—	—	—	—

💰 Are margins durable? 1 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
FCF / Net Income (x)	5.39x Excellent → Excellent Stable Free cash flow relative to reported net income Optimal: > 1x	7.26x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	4.43x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	4.59x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	-3.00x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	-2.04x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—	—

🎯 Is capital allocation efficient? 1 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
Return on Common Equity (%) (%)	5.5% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15%	3.8% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15%	6.4% Caution → Caution Stable Profit generated per dollar of shareholder equity Optimal: > 15%	4.7% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15%	8.6% Caution Caution Profit generated per dollar of shareholder equity Optimal: > 15%	—	—	—

⚖️ Is the balance sheet risky? 2 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
Debt to Equity (x)	1.25x Caution → Caution Stable Total debt relative to shareholder equity Optimal: < 0.6x	1.23x Caution ↓ Caution Declining Total debt relative to shareholder equity Optimal: < 0.6x	1.22x Caution ↓ Caution Declining Total debt relative to shareholder equity Optimal: < 0.6x	1.33x Caution Caution Total debt relative to shareholder equity Optimal: < 0.6x	1.36x Caution Caution Total debt relative to shareholder equity Optimal: < 0.6x	—	—	—
Net Debt (USD)	$316.80M	$340.69M	$375.70M	$430.92M	$463.77M	$-8.06M	—	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
Basic EPS, GAAP (USD)	$0.62	$0.47	$0.88	$0.68	$1.42	$1.55	—	—
Free Cash Flow per Share (USD)	$3.33	$3.39	$3.89	$3.10	$-4.26	$-3.14	—	—
Dividend per Share (USD)	$1.44	$1.79	$1.55	$1.47	$1.56	$1.55	—	—
Book Value per Share (USD)	$11.68	$12.31	$13.63	$14.30	$15.10	—	—	—
Tangible Book Value per Share (USD)	$11.68	$12.31	$13.63	$14.30	$15.10	—	—	—
Basic Weighted Avg Shares (shares)	23.17M	23.24M	23.24M	23.23M	21.15M	20.55M	—	—

🏦 How resilient is the balance sheet? 2 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
LT Debt (USD)	$323.83M	$353.12M	$386.45M	$440.43M	$475.96M	—	—	—
Total Equity (USD)	$259.79M	$286.13M	$316.77M	$332.39M	$349.75M	—	—	—

📋 What is driving earnings? 2 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
Net Income, GAAP (USD)	$14.34M	$10.85M	$20.41M	$15.68M	$30.09M	$31.68M	—	—
Operating Cash Flow (USD)	$77.27M	$78.76M	$90.37M	$71.99M	$-90.19M	$-64.60M	—	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 5 days ago 8 years · 23 quarters

WhiteHorse Finance, Inc.

Analytical Summary

8-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

Dividend History

Statement lens

Benchmark Lens

Signals

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