WHITEHORSE FINANCE INC (WHF) Stock Fundamental Analysis

USA • Nasdaq • NASDAQ:WHF • US96524V1061

6.47 USD
-0.06 (-0.92%)
Last: Feb 5, 2026, 05:20 PM
Fundamental Rating

3

Overall WHF gets a fundamental rating of 3 out of 10. We evaluated WHF against 238 industry peers in the Capital Markets industry. WHF has a bad profitability rating. Also its financial health evaluation is rather negative. WHF has a valuation in line with the averages, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

3

1. Profitability

1.1 Basic Checks

  • WHF had positive earnings in the past year.
  • WHF had a positive operating cash flow in the past year.
  • In the past 5 years WHF has always been profitable.
  • The reported operating cash flow has been mixed in the past 5 years: WHF reported negative operating cash flow in multiple years.
WHF Yearly Net Income VS EBIT VS OCF VS FCFWHF Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M -50M

1.2 Ratios

  • The Return On Assets of WHF (1.57%) is worse than 62.18% of its industry peers.
  • WHF has a Return On Equity of 3.72%. This is in the lower half of the industry: WHF underperforms 64.71% of its industry peers.
  • With a Return On Invested Capital value of 3.69%, WHF perfoms like the industry average, outperforming 52.52% of the companies in the same industry.
  • WHF had an Average Return On Invested Capital over the past 3 years of 4.40%. This is below the industry average of 7.28%.
Industry RankSector Rank
ROA 1.57%
ROE 3.72%
ROIC 3.69%
ROA(3y)2.12%
ROA(5y)2.86%
ROE(3y)4.98%
ROE(5y)6.74%
ROIC(3y)4.4%
ROIC(5y)3.74%
WHF Yearly ROA, ROE, ROICWHF Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

  • With a Profit Margin value of 12.91%, WHF perfoms like the industry average, outperforming 43.28% of the companies in the same industry.
  • In the last couple of years the Profit Margin of WHF has declined.
  • WHF has a better Operating Margin (36.00%) than 66.39% of its industry peers.
  • In the last couple of years the Operating Margin of WHF has declined.
  • WHF has a Gross Margin (43.86%) which is comparable to the rest of the industry.
  • WHF's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 36%
PM (TTM) 12.91%
GM 43.86%
OM growth 3Y0.18%
OM growth 5Y-2.92%
PM growth 3Y-34.56%
PM growth 5Y-23.96%
GM growth 3Y-0.25%
GM growth 5Y-2.13%
WHF Yearly Profit, Operating, Gross MarginsWHF Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

2

2. Health

2.1 Basic Checks

  • The number of shares outstanding for WHF remains at a similar level compared to 1 year ago.
  • WHF has more shares outstanding than it did 5 years ago.
  • The debt/assets ratio for WHF has been reduced compared to a year ago.
WHF Yearly Shares OutstandingWHF Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M 20M
WHF Yearly Total Debt VS Total AssetsWHF Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M

2.2 Solvency

  • WHF has an Altman-Z score of 0.33. This is a bad value and indicates that WHF is not financially healthy and even has some risk of bankruptcy.
  • Looking at the Altman-Z score, with a value of 0.33, WHF is doing worse than 67.65% of the companies in the same industry.
  • The Debt to FCF ratio of WHF is 3.32, which is a good value as it means it would take WHF, 3.32 years of fcf income to pay off all of its debts.
  • With a decent Debt to FCF ratio value of 3.32, WHF is doing good in the industry, outperforming 76.47% of the companies in the same industry.
  • WHF has a Debt/Equity ratio of 1.22. This is a high value indicating a heavy dependency on external financing.
  • WHF has a worse Debt to Equity ratio (1.22) than 60.08% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.22
Debt/FCF 3.32
Altman-Z 0.33
ROIC/WACCN/A
WACCN/A
WHF Yearly LT Debt VS Equity VS FCFWHF Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M 200M 300M 400M

2.3 Liquidity

  • WHF has a Current Ratio of 0.57. This is a bad value and indicates that WHF is not financially healthy enough and could expect problems in meeting its short term obligations.
  • WHF has a worse Current ratio (0.57) than 70.59% of its industry peers.
  • WHF has a Quick Ratio of 0.57. This is a bad value and indicates that WHF is not financially healthy enough and could expect problems in meeting its short term obligations.
  • With a Quick ratio value of 0.57, WHF is not doing good in the industry: 70.17% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 0.57
Quick Ratio 0.57
WHF Yearly Current Assets VS Current LiabilitesWHF Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

1

3. Growth

3.1 Past

  • The earnings per share for WHF have decreased strongly by -31.48% in the last year.
  • WHF shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 1.13% yearly.
  • The Revenue for WHF has decreased by -21.66% in the past year. This is quite bad
  • The Revenue has been growing slightly by 6.71% on average over the past years.
EPS 1Y (TTM)-31.48%
EPS 3Y4.48%
EPS 5Y1.13%
EPS Q2Q%-35%
Revenue 1Y (TTM)-21.66%
Revenue growth 3Y8.76%
Revenue growth 5Y6.71%
Sales Q2Q%-51.71%

3.2 Future

  • WHF is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -12.27% yearly.
  • WHF is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -9.52% yearly.
EPS Next Y-30.12%
EPS Next 2Y-18.58%
EPS Next 3Y-12.27%
EPS Next 5YN/A
Revenue Next Year-22.55%
Revenue Next 2Y-14.75%
Revenue Next 3Y-9.52%
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
WHF Yearly Revenue VS EstimatesWHF Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 20M 40M 60M 80M 100M
WHF Yearly EPS VS EstimatesWHF Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0.5 1 1.5

More info and screens

Find the best growth stocksShow best growing peers

6

4. Valuation

4.1 Price/Earnings Ratio

  • WHF is valuated cheaply with a Price/Earnings ratio of 5.48.
  • Compared to the rest of the industry, the Price/Earnings ratio of WHF indicates a rather cheap valuation: WHF is cheaper than 87.82% of the companies listed in the same industry.
  • The average S&P500 Price/Earnings ratio is at 28.25. WHF is valued rather cheaply when compared to this.
  • A Price/Forward Earnings ratio of 6.07 indicates a rather cheap valuation of WHF.
  • WHF's Price/Forward Earnings ratio is rather cheap when compared to the industry. WHF is cheaper than 91.60% of the companies in the same industry.
  • WHF is valuated cheaply when we compare the Price/Forward Earnings ratio to 27.50, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 5.48
Fwd PE 6.07
WHF Price Earnings VS Forward Price EarningsWHF Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Based on the Price/Free Cash Flow ratio, WHF is valued cheaper than 95.80% of the companies in the same industry.
Industry RankSector Rank
P/FCF 1.54
EV/EBITDA N/A
WHF Per share dataWHF EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

  • A cheap valuation may be justified as WHF's earnings are expected to decrease with -12.27% in the coming years.
PEG (NY)N/A
PEG (5Y)4.84
EPS Next 2Y-18.58%
EPS Next 3Y-12.27%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 14.62%, WHF is a good candidate for dividend investing.
  • WHF's Dividend Yield is rather good when compared to the industry average which is at 6.02. WHF pays more dividend than 89.92% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.82, WHF pays a better dividend.
Industry RankSector Rank
Dividend Yield 14.62%

5.2 History

  • The dividend of WHF has a limited annual growth rate of 1.98%.
  • WHF has been paying a dividend for at least 10 years, so it has a reliable track record.
  • WHF has decreased its dividend in the last 3 years.
Dividend Growth(5Y)1.98%
Div Incr Years2
Div Non Decr Years2
WHF Yearly Dividends per shareWHF Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5

5.3 Sustainability

  • WHF pays out 420.82% of its income as dividend. This is not a sustainable payout ratio.
  • The Dividend Rate of WHF has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP420.82%
EPS Next 2Y-18.58%
EPS Next 3Y-12.27%
WHF Yearly Income VS Free CF VS DividendWHF Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M -50M
WHF Dividend Payout.WHF Dividend Payout, showing the Payout Ratio.WHF Dividend Payout.PayoutRetained Earnings

More info and screens

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WHITEHORSE FINANCE INC

NASDAQ:WHF (2/5/2026, 5:20:02 PM)

6.47

-0.06 (-0.92%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)11-10
Earnings (Next)02-26
Inst Owners15.71%
Inst Owner Change-23.7%
Ins Owners4.55%
Ins Owner Change10.59%
Market Cap150.36M
Revenue(TTM)76.34M
Net Income(TTM)9.86M
Analysts48.33
Price Target7.82 (20.87%)
Short Float %1.42%
Short Ratio1.47
Dividend
Industry RankSector Rank
Dividend Yield 14.62%
Yearly Dividend1.79
Dividend Growth(5Y)1.98%
DP420.82%
Div Incr Years2
Div Non Decr Years2
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-8.51%
Min EPS beat(2)-10.38%
Max EPS beat(2)-6.64%
EPS beat(4)0
Avg EPS beat(4)-10.56%
Min EPS beat(4)-13.41%
Max EPS beat(4)-6.64%
EPS beat(8)1
Avg EPS beat(8)-7.23%
EPS beat(12)4
Avg EPS beat(12)-3.58%
EPS beat(16)5
Avg EPS beat(16)-4.19%
Revenue beat(2)0
Avg Revenue beat(2)-22.24%
Min Revenue beat(2)-41.9%
Max Revenue beat(2)-2.58%
Revenue beat(4)0
Avg Revenue beat(4)-15.4%
Min Revenue beat(4)-41.9%
Max Revenue beat(4)-2.58%
Revenue beat(8)1
Avg Revenue beat(8)-11.62%
Revenue beat(12)4
Avg Revenue beat(12)-6.71%
Revenue beat(16)5
Avg Revenue beat(16)-5.74%
PT rev (1m)0%
PT rev (3m)-13.21%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-6.02%
EPS NY rev (1m)0%
EPS NY rev (3m)-3.47%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-6.02%
Revenue NY rev (1m)-1.36%
Revenue NY rev (3m)-2.68%
Valuation
Industry RankSector Rank
PE 5.48
Fwd PE 6.07
P/S 1.97
P/FCF 1.54
P/OCF 1.54
P/B 0.57
P/tB 0.57
EV/EBITDA N/A
EPS(TTM)1.18
EY18.24%
EPS(NY)1.07
Fwd EY16.48%
FCF(TTM)4.19
FCFY64.77%
OCF(TTM)4.19
OCFY64.77%
SpS3.28
BVpS11.41
TBVpS11.41
PEG (NY)N/A
PEG (5Y)4.84
Graham Number17.41
Profitability
Industry RankSector Rank
ROA 1.57%
ROE 3.72%
ROCE 4.67%
ROIC 3.69%
ROICexc 3.75%
ROICexgc 3.75%
OM 36%
PM (TTM) 12.91%
GM 43.86%
FCFM 127.57%
ROA(3y)2.12%
ROA(5y)2.86%
ROE(3y)4.98%
ROE(5y)6.74%
ROIC(3y)4.4%
ROIC(5y)3.74%
ROICexc(3y)4.47%
ROICexc(5y)3.79%
ROICexgc(3y)4.47%
ROICexgc(5y)3.79%
ROCE(3y)5.57%
ROCE(5y)4.73%
ROICexgc growth 3Y18.87%
ROICexgc growth 5Y2.95%
ROICexc growth 3Y18.87%
ROICexc growth 5Y2.95%
OM growth 3Y0.18%
OM growth 5Y-2.92%
PM growth 3Y-34.56%
PM growth 5Y-23.96%
GM growth 3Y-0.25%
GM growth 5Y-2.13%
F-Score4
Asset Turnover0.12
Health
Industry RankSector Rank
Debt/Equity 1.22
Debt/FCF 3.32
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 1.26
Cash Conversion N/A
Profit Quality 987.8%
Current Ratio 0.57
Quick Ratio 0.57
Altman-Z 0.33
F-Score4
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)542.55%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-31.48%
EPS 3Y4.48%
EPS 5Y1.13%
EPS Q2Q%-35%
EPS Next Y-30.12%
EPS Next 2Y-18.58%
EPS Next 3Y-12.27%
EPS Next 5YN/A
Revenue 1Y (TTM)-21.66%
Revenue growth 3Y8.76%
Revenue growth 5Y6.71%
Sales Q2Q%-51.71%
Revenue Next Year-22.55%
Revenue Next 2Y-14.75%
Revenue Next 3Y-9.52%
Revenue Next 5YN/A
EBIT growth 1Y-31.37%
EBIT growth 3Y8.96%
EBIT growth 5Y3.6%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y18.12%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y18.12%
OCF growth 3YN/A
OCF growth 5YN/A

WHITEHORSE FINANCE INC / WHF FAQ

Can you provide the ChartMill fundamental rating for WHITEHORSE FINANCE INC?

ChartMill assigns a fundamental rating of 3 / 10 to WHF.


Can you provide the valuation status for WHITEHORSE FINANCE INC?

ChartMill assigns a valuation rating of 6 / 10 to WHITEHORSE FINANCE INC (WHF). This can be considered as Fairly Valued.


Can you provide the profitability details for WHITEHORSE FINANCE INC?

WHITEHORSE FINANCE INC (WHF) has a profitability rating of 3 / 10.


What is the financial health of WHITEHORSE FINANCE INC (WHF) stock?

The financial health rating of WHITEHORSE FINANCE INC (WHF) is 2 / 10.


Is the dividend of WHITEHORSE FINANCE INC sustainable?

The dividend rating of WHITEHORSE FINANCE INC (WHF) is 5 / 10 and the dividend payout ratio is 420.82%.