WHITEHORSE FINANCE INC (WHF) Fundamental Analysis & Valuation

NASDAQ:WHF • US96524V1061

Current stock price

7.52 USD
+0.06 (+0.8%)
Last:

This WHF fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

4

1. WHF Profitability Analysis

1.1 Basic Checks

  • In the past year WHF was profitable.
  • In the past year WHF had a positive cash flow from operations.
  • WHF had positive earnings in each of the past 5 years.
  • Of the past 5 years WHF 4 years had a positive operating cash flow.
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 2025 0 50M -50M

1.2 Ratios

  • WHF has a Return On Assets (2.33%) which is comparable to the rest of the industry.
  • WHF's Return On Equity of 5.52% is in line compared to the rest of the industry. WHF outperforms 42.50% of its industry peers.
  • With a Return On Invested Capital value of 3.53%, WHF perfoms like the industry average, outperforming 49.58% of the companies in the same industry.
  • WHF had an Average Return On Invested Capital over the past 3 years of 4.31%. This is below the industry average of 7.30%.
Industry RankSector Rank
ROA 2.33%
ROE 5.52%
ROIC 3.53%
ROA(3y)2.24%
ROA(5y)2.45%
ROE(3y)5.25%
ROE(5y)5.81%
ROIC(3y)4.31%
ROIC(5y)3.9%
WHF Yearly ROA, ROE, ROICWHF Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15

1.3 Margins

  • WHF's Profit Margin of 19.73% is in line compared to the rest of the industry. WHF outperforms 55.42% of its industry peers.
  • WHF's Profit Margin has declined in the last couple of years.
  • WHF has a better Operating Margin (35.93%) than 66.25% of its industry peers.
  • In the last couple of years the Operating Margin of WHF has declined.
  • WHF's Gross Margin of 44.23% is in line compared to the rest of the industry. WHF outperforms 48.33% of its industry peers.
  • WHF's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 35.93%
PM (TTM) 19.73%
GM 44.23%
OM growth 3Y-5.5%
OM growth 5Y-1.71%
PM growth 3Y3.27%
PM growth 5Y-17.42%
GM growth 3Y-3.38%
GM growth 5Y-0.86%
WHF Yearly Profit, Operating, Gross MarginsWHF Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60 80

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2

2. WHF Health Analysis

2.1 Basic Checks

  • Compared to 1 year ago, WHF has less shares outstanding
  • Compared to 5 years ago, WHF has more shares outstanding
  • WHF has a worse debt/assets ratio than last year.
WHF Yearly Shares OutstandingWHF Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 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 2025 200M 400M 600M 800M

2.2 Solvency

  • Based on the Altman-Z score of 0.35, we must say that WHF is in the distress zone and has some risk of bankruptcy.
  • With a Altman-Z score value of 0.35, WHF is not doing good in the industry: 67.08% of the companies in the same industry are doing better.
  • WHF has a debt to FCF ratio of 4.19. This is a neutral value as WHF would need 4.19 years to pay back of all of its debts.
  • WHF has a Debt to FCF ratio of 4.19. This is in the better half of the industry: WHF outperforms 74.58% of its industry peers.
  • WHF has a Debt/Equity ratio of 1.25. This is a high value indicating a heavy dependency on external financing.
  • WHF has a worse Debt to Equity ratio (1.25) than 61.67% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.25
Debt/FCF 4.19
Altman-Z 0.35
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 2025 0 100M 200M 300M 400M

2.3 Liquidity

  • A Current Ratio of 0.45 indicates that WHF may have some problems paying its short term obligations.
  • Looking at the Current ratio, with a value of 0.45, WHF is doing worse than 77.08% of the companies in the same industry.
  • WHF has a Quick Ratio of 0.45. This is a bad value and indicates that WHF is not financially healthy enough and could expect problems in meeting its short term obligations.
  • Looking at the Quick ratio, with a value of 0.45, WHF is doing worse than 77.08% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.45
Quick Ratio 0.45
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 2025 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. WHF Growth Analysis

3.1 Past

  • WHF shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -30.41%.
  • WHF shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -2.65% yearly.
  • Looking at the last year, WHF shows a very negative growth in Revenue. The Revenue has decreased by -21.70% in the last year.
  • WHF shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 3.33% yearly.
EPS 1Y (TTM)-30.41%
EPS 3Y-9.82%
EPS 5Y-2.65%
EPS Q2Q%-18.37%
Revenue 1Y (TTM)-21.7%
Revenue growth 3Y-6.01%
Revenue growth 5Y3.33%
Sales Q2Q%-17.45%

3.2 Future

  • WHF is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -3.89% yearly.
  • WHF is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -1.96% yearly.
EPS Next Y-0.51%
EPS Next 2Y-3.89%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year1.95%
Revenue Next 2Y-1.96%
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.
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

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6

4. WHF Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 6.71, the valuation of WHF can be described as very cheap.
  • Compared to the rest of the industry, the Price/Earnings ratio of WHF indicates a rather cheap valuation: WHF is cheaper than 84.17% of the companies listed in the same industry.
  • WHF is valuated cheaply when we compare the Price/Earnings ratio to 27.42, which is the current average of the S&P500 Index.
  • The Price/Forward Earnings ratio is 6.75, which indicates a rather cheap valuation of WHF.
  • Based on the Price/Forward Earnings ratio, WHF is valued cheaper than 87.92% of the companies in the same industry.
  • WHF's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.24.
Industry RankSector Rank
PE 6.71
Fwd PE 6.75
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 93.33% of the companies in the same industry.
Industry RankSector Rank
P/FCF 2.16
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

  • WHF's earnings are expected to decrease with -3.89% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-3.89%
EPS Next 3YN/A

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

5

5. WHF Dividend Analysis

5.1 Amount

  • WHF has a Yearly Dividend Yield of 13.18%, which is a nice return.
  • WHF's Dividend Yield is rather good when compared to the industry average which is at 6.46. WHF pays more dividend than 82.08% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.81, WHF pays a better dividend.
Industry RankSector Rank
Dividend Yield 13.18%

5.2 History

  • The dividend of WHF has a limited annual growth rate of 0.78%.
  • WHF has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)0.78%
Div Incr Years0
Div Non Decr Years0
WHF Yearly Dividends per shareWHF Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5

5.3 Sustainability

  • WHF pays out 255.35% of its income as dividend. This is not a sustainable payout ratio.
  • WHF's earnings are declining while the Dividend Rate has been growing. This means the dividend growth is most likely not sustainable.
DP255.35%
EPS Next 2Y-3.89%
EPS Next 3YN/A
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 2025 0 50M -50M
WHF Dividend Payout.WHF Dividend Payout, showing the Payout Ratio.WHF Dividend Payout.PayoutRetained Earnings

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WHF Fundamentals: All Metrics, Ratios and Statistics

WHITEHORSE FINANCE INC

NASDAQ:WHF (4/24/2026, 8:14:21 PM)

7.52

+0.06 (+0.8%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)03-02
Earnings (Next)05-12
Inst Owners17.75%
Inst Owner Change0.01%
Ins Owners5.06%
Ins Owner Change14.72%
Market Cap167.17M
Revenue(TTM)72.67M
Net Income(TTM)14.34M
Analysts48.33
Price Target7.82 (3.99%)
Short Float %2.38%
Short Ratio3.23
Dividend
Industry RankSector Rank
Dividend Yield 13.18%
Yearly Dividend1.61
Dividend Growth(5Y)0.78%
DP255.35%
Div Incr Years0
Div Non Decr Years0
Ex-Date03-12
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-4.46%
Min EPS beat(2)-10.38%
Max EPS beat(2)1.46%
EPS beat(4)1
Avg EPS beat(4)-6.84%
Min EPS beat(4)-11.79%
Max EPS beat(4)1.46%
EPS beat(8)2
Avg EPS beat(8)-6.94%
EPS beat(12)4
Avg EPS beat(12)-4.29%
EPS beat(16)6
Avg EPS beat(16)-3.2%
Revenue beat(2)0
Avg Revenue beat(2)-21.81%
Min Revenue beat(2)-41.9%
Max Revenue beat(2)-1.71%
Revenue beat(4)0
Avg Revenue beat(4)-13.77%
Min Revenue beat(4)-41.9%
Max Revenue beat(4)-1.71%
Revenue beat(8)0
Avg Revenue beat(8)-11.93%
Revenue beat(12)3
Avg Revenue beat(12)-7.39%
Revenue beat(16)5
Avg Revenue beat(16)-5.52%
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)3.18%
EPS NY rev (1m)4.43%
EPS NY rev (3m)4.43%
Revenue NQ rev (1m)-2.33%
Revenue NQ rev (3m)-2.33%
Revenue NY rev (1m)6.76%
Revenue NY rev (3m)-3.74%
Valuation
Industry RankSector Rank
PE 6.71
Fwd PE 6.75
P/S 2.3
P/FCF 2.16
P/OCF 2.16
P/B 0.64
P/tB 0.64
EV/EBITDA N/A
EPS(TTM)1.12
EY14.89%
EPS(NY)1.11
Fwd EY14.8%
FCF(TTM)3.48
FCFY46.22%
OCF(TTM)3.48
OCFY46.22%
SpS3.27
BVpS11.69
TBVpS11.69
PEG (NY)N/A
PEG (5Y)N/A
Graham Number17.161 (128.2%)
Profitability
Industry RankSector Rank
ROA 2.33%
ROE 5.52%
ROCE 4.47%
ROIC 3.53%
ROICexc 3.57%
ROICexgc 3.57%
OM 35.93%
PM (TTM) 19.73%
GM 44.23%
FCFM 106.33%
ROA(3y)2.24%
ROA(5y)2.45%
ROE(3y)5.25%
ROE(5y)5.81%
ROIC(3y)4.31%
ROIC(5y)3.9%
ROICexc(3y)4.38%
ROICexc(5y)3.96%
ROICexgc(3y)4.38%
ROICexgc(5y)3.96%
ROCE(3y)5.45%
ROCE(5y)4.93%
ROICexgc growth 3Y-2.48%
ROICexgc growth 5Y5.25%
ROICexc growth 3Y-2.48%
ROICexc growth 5Y5.25%
OM growth 3Y-5.5%
OM growth 5Y-1.71%
PM growth 3Y3.27%
PM growth 5Y-17.42%
GM growth 3Y-3.38%
GM growth 5Y-0.86%
F-Score5
Asset Turnover0.12
Health
Industry RankSector Rank
Debt/Equity 1.25
Debt/FCF 4.19
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 1.17
Cash Conversion N/A
Profit Quality 538.97%
Current Ratio 0.45
Quick Ratio 0.45
Altman-Z 0.35
F-Score5
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)569.17%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-30.41%
EPS 3Y-9.82%
EPS 5Y-2.65%
EPS Q2Q%-18.37%
EPS Next Y-0.51%
EPS Next 2Y-3.89%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-21.7%
Revenue growth 3Y-6.01%
Revenue growth 5Y3.33%
Sales Q2Q%-17.45%
Revenue Next Year1.95%
Revenue Next 2Y-1.96%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-30.23%
EBIT growth 3Y-11.18%
EBIT growth 5Y1.56%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-1.89%
FCF growth 3Y2.39%
FCF growth 5YN/A
OCF growth 1Y-1.89%
OCF growth 3Y2.39%
OCF growth 5YN/A

WHITEHORSE FINANCE INC / WHF Fundamental Analysis FAQ

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

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


What is the valuation status of WHITEHORSE FINANCE INC (WHF) stock?

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


How profitable is WHITEHORSE FINANCE INC (WHF) stock?

WHITEHORSE FINANCE INC (WHF) has a profitability rating of 4 / 10.


Can you provide the financial health for WHF stock?

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


Can you provide the expected EPS growth for WHF stock?

The Earnings per Share (EPS) of WHITEHORSE FINANCE INC (WHF) is expected to decline by -0.51% in the next year.