WHITEHORSE FINANCE INC (WHF) Stock Fundamental Analysis
NASDAQ:WHF - Nasdaq - US96524V1061 - Common Stock - Currency: USD
Overall WHF gets a fundamental rating of 3 out of 10. We evaluated WHF against 233 industry peers in the Capital Markets industry. Both the profitability and financial health of WHF have multiple concerns. WHF is valued correctly, but it does not seem to be growing.
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.
In multiple years WHF reported negative operating cash flow during the last 5 years.
1.2 Ratios
With a Return On Assets value of 1.35%, WHF perfoms like the industry average, outperforming 40.77% of the companies in the same industry.
WHF has a worse Return On Equity (3.25%) than 67.38% of its industry peers.
WHF has a Return On Invested Capital (4.09%) which is comparable to the rest of the industry.
Measured over the past 3 years, the Average Return On Invested Capital for WHF is below the industry average of 7.84%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.35% | ||
| ROE | 3.25% | ||
| ROIC | 4.09% |
ROA(3y)2.12%
ROA(5y)2.86%
ROE(3y)4.98%
ROE(5y)6.74%
ROIC(3y)4.4%
ROIC(5y)3.74%
1.3 Margins
Looking at the Profit Margin, with a value of 10.62%, WHF is in line with its industry, outperforming 43.78% of the companies in the same industry.
WHF's Profit Margin has declined in the last couple of years.
WHF's Operating Margin of 38.62% is fine compared to the rest of the industry. WHF outperforms 67.81% of its industry peers.
WHF's Operating Margin has declined in the last couple of years.
WHF has a Gross Margin (45.54%) which is in line with its industry peers.
WHF's Gross Margin has declined in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 38.62% | ||
| PM (TTM) | 10.62% | ||
| GM | 45.54% |
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%
2. Health
2.1 Basic Checks
Compared to 1 year ago, WHF has about the same amount of shares outstanding.
WHF has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, WHF has an improved debt to assets ratio.
2.2 Solvency
WHF has an Altman-Z score of 0.47. 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 0.47, WHF is doing worse than 66.09% of the companies in the same industry.
WHF has a debt to FCF ratio of 5.15. This is a neutral value as WHF would need 5.15 years to pay back of all of its debts.
The Debt to FCF ratio of WHF (5.15) is better than 66.95% of its industry peers.
WHF has a Debt/Equity ratio of 1.28. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 1.28, WHF is not doing good in the industry: 64.38% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.28 | ||
| Debt/FCF | 5.15 | ||
| Altman-Z | 0.47 |
ROIC/WACCN/A
WACCN/A
2.3 Liquidity
A Current Ratio of 0.55 indicates that WHF may have some problems paying its short term obligations.
WHF has a worse Current ratio (0.55) than 73.82% of its industry peers.
A Quick Ratio of 0.55 indicates that WHF may have some problems paying its short term obligations.
With a Quick ratio value of 0.55, WHF is not doing good in the industry: 73.82% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.55 | ||
| Quick Ratio | 0.55 |
3. Growth
3.1 Past
The earnings per share for WHF have decreased strongly by -22.16% in the last year.
Measured over the past 5 years, WHF shows a small growth in Earnings Per Share. The EPS has been growing by 1.13% on average per year.
WHF shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -16.02%.
WHF shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.71% yearly.
EPS 1Y (TTM)-22.16%
EPS 3Y4.48%
EPS 5Y1.13%
EPS Q2Q%-36.77%
Revenue 1Y (TTM)-16.02%
Revenue growth 3Y8.76%
Revenue growth 5Y6.71%
Sales Q2Q%-8.86%
3.2 Future
The Earnings Per Share is expected to decrease by -16.13% on average over the next years. This is quite bad
Based on estimates for the next years, WHF will show a very negative growth in Revenue. The Revenue will decrease by -11.72% on average per year.
EPS Next Y-23.58%
EPS Next 2Y-16.13%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-18.9%
Revenue Next 2Y-11.72%
Revenue Next 3YN/A
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.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 6.34 indicates a rather cheap valuation of WHF.
Based on the Price/Earnings ratio, WHF is valued cheaply inside the industry as 90.99% of the companies are valued more expensively.
WHF is valuated cheaply when we compare the Price/Earnings ratio to 27.45, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 8.07 indicates a reasonable valuation of WHF.
87.55% of the companies in the same industry are more expensive than WHF, based on the Price/Forward Earnings ratio.
WHF is valuated cheaply when we compare the Price/Forward Earnings ratio to 21.90, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.34 | ||
| Fwd PE | 8.07 |
4.2 Price Multiples
WHF's Price/Free Cash Flow ratio is rather cheap when compared to the industry. WHF is cheaper than 86.70% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 3.02 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
A cheap valuation may be justified as WHF's earnings are expected to decrease with -16.13% in the coming years.
PEG (NY)N/A
PEG (5Y)5.6
EPS Next 2Y-16.13%
EPS Next 3YN/A
5. Dividend
5.1 Amount
WHF has a Yearly Dividend Yield of 7.83%, which is a nice return.
Compared to an average industry Dividend Yield of 8.15, WHF pays a bit more dividend than its industry peers.
WHF's Dividend Yield is rather good when compared to the S&P500 average which is at 2.38.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.83% |
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
5.3 Sustainability
WHF pays out 453.63% 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.
DP453.63%
EPS Next 2Y-16.13%
EPS Next 3YN/A
9.13
+0.1 (+1.11%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)
Earnings (Next)
Inst Owners16.12%
Inst Owner Change-2.82%
Ins Owners4.29%
Ins Owner Change0%
Market Cap212.18M
Analysts48.33
Price Target10.46 (14.57%)
Short Float %1.06%
Short Ratio2.37
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.83% |
Yearly Dividend1.79
Dividend Growth(5Y)1.98%
DP453.63%
Div Incr Years2
Div Non Decr Years2
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-12.6%
Min EPS beat(2)-13.41%
Max EPS beat(2)-11.79%
EPS beat(4)0
Avg EPS beat(4)-10.09%
Min EPS beat(4)-13.41%
Max EPS beat(4)-4.29%
EPS beat(8)2
Avg EPS beat(8)-5.18%
EPS beat(12)5
Avg EPS beat(12)-2.32%
EPS beat(16)5
Avg EPS beat(16)-3.8%
Revenue beat(2)0
Avg Revenue beat(2)-8.55%
Min Revenue beat(2)-8.87%
Max Revenue beat(2)-8.23%
Revenue beat(4)0
Avg Revenue beat(4)-7.83%
Min Revenue beat(4)-11.74%
Max Revenue beat(4)-2.49%
Revenue beat(8)2
Avg Revenue beat(8)-5.92%
Revenue beat(12)5
Avg Revenue beat(12)-3.2%
Revenue beat(16)5
Avg Revenue beat(16)-3.33%
PT rev (1m)-8.89%
PT rev (3m)-10.87%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-10.51%
EPS NY rev (1m)-0.4%
EPS NY rev (3m)-7.65%
Revenue NQ rev (1m)-2.48%
Revenue NQ rev (3m)-4.33%
Revenue NY rev (1m)4.8%
Revenue NY rev (3m)-11.57%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.34 | ||
| Fwd PE | 8.07 | ||
| P/S | 2.46 | ||
| P/FCF | 3.02 | ||
| P/OCF | 3.02 | ||
| P/B | 0.75 | ||
| P/tB | 0.75 | ||
| EV/EBITDA | N/A |
EPS(TTM)1.44
EY15.77%
EPS(NY)1.13
Fwd EY12.39%
FCF(TTM)3.02
FCFY33.06%
OCF(TTM)3.02
OCFY33.06%
SpS3.71
BVpS12.11
TBVpS12.11
PEG (NY)N/A
PEG (5Y)5.6
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.35% | ||
| ROE | 3.25% | ||
| ROCE | 5.17% | ||
| ROIC | 4.09% | ||
| ROICexc | 4.16% | ||
| ROICexgc | 4.16% | ||
| OM | 38.62% | ||
| PM (TTM) | 10.62% | ||
| GM | 45.54% | ||
| FCFM | 81.44% |
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%
ROICexcg growth 3Y18.87%
ROICexcg 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-Score3
Asset Turnover0.13
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.28 | ||
| Debt/FCF | 5.15 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 1.31 | ||
| Cash Conversion | N/A | ||
| Profit Quality | 767.04% | ||
| Current Ratio | 0.55 | ||
| Quick Ratio | 0.55 | ||
| Altman-Z | 0.47 |
F-Score3
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)-22.16%
EPS 3Y4.48%
EPS 5Y1.13%
EPS Q2Q%-36.77%
EPS Next Y-23.58%
EPS Next 2Y-16.13%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-16.02%
Revenue growth 3Y8.76%
Revenue growth 5Y6.71%
Sales Q2Q%-8.86%
Revenue Next Year-18.9%
Revenue Next 2Y-11.72%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-22.31%
EBIT growth 3Y8.96%
EBIT growth 5Y3.6%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-10.83%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-10.83%
OCF growth 3YN/A
OCF growth 5YN/A