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Financial Services - Asset Management - NASDAQ - US
$ 8.8
-2.22 %
$ 205 M
Market Cap
18.72
P/E
1. INTRINSIC VALUE

This DCF valuation model was last updated on Apr, 8, 2025.

The intrinsic value of one WHF stock under the worst case scenario is HIDDEN Compared to the current market price of 8.8 USD, WhiteHorse Finance, Inc. is HIDDEN

This DCF valuation model was last updated on Apr, 8, 2025.

The intrinsic value of one WHF stock under the base case scenario is HIDDEN Compared to the current market price of 8.8 USD, WhiteHorse Finance, Inc. is HIDDEN

This DCF valuation model was last updated on Apr, 8, 2025.

The intrinsic value of one WHF stock under the best case scenario is HIDDEN Compared to the current market price of 8.8 USD, WhiteHorse Finance, Inc. is HIDDEN

2. FUNDAMENTAL ANALYSIS

Price Chart WHF

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$11.5$11.5$11.0$11.0$10.5$10.5$10.0$10.0$9.5$9.5$9.0$9.0$8.5$8.515 Oct15 OctNov '24Nov '2415 Nov15 NovDec '24Dec '2415 Dec15 DecJan '25Jan '2515 Jan15 JanFeb '25Feb '2515 Feb15 FebMar '25Mar '2515 Mar15 MarApr '25Apr '25
FINANCIALS
92.8 M REVENUE
-10.11%
87.7 M OPERATING INCOME
19.16%
10.9 M NET INCOME
-46.84%
78.8 M OPERATING CASH FLOW
-12.85%
0 INVESTING CASH FLOW
0.00%
-75.4 M FINANCING CASH FLOW
18.16%
5.51 M REVENUE
-75.88%
-21.3 M OPERATING INCOME
-75.53%
3.9 M NET INCOME
156.88%
21.1 M OPERATING CASH FLOW
44.65%
0 INVESTING CASH FLOW
0.00%
-13.9 M FINANCING CASH FLOW
11.44%
Balance Sheet WhiteHorse Finance, Inc.
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Current Assets 32.6 M
Cash & Short-Term Investments 27 M
Receivables 5.63 M
Other Current Assets 0
Non-Current Assets 642 M
Long-Term Investments 642 M
PP&E 0
Other Non-Current Assets 0
4.00 %95.17 %Total Assets$674.8m
Current Liabilities 37.2 M
Accounts Payable 16.4 M
Short-Term Debt 0
Other Current Liabilities 20.8 M
Non-Current Liabilities 0
Long-Term Debt 0
Other Non-Current Liabilities 0
44.18 %55.82 %Total Liabilities$37.2m
EFFICIENCY
Earnings Waterfall WhiteHorse Finance, Inc.
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Revenue 92.8 M
Cost Of Revenue 0
Gross Profit 92.8 M
Operating Expenses 5.12 M
Operating Income 87.7 M
Other Expenses 76.8 M
Net Income 10.9 M
100m100m90m90m80m80m70m70m60m60m50m50m40m40m30m30m20m20m10m10m0093m093m(5m)88m(77m)11mRevenueRevenueCost Of RevenueCost Of RevenueGross ProfitGross ProfitOperating ExpensesOperating ExpensesOperating IncomeOperating IncomeOther ExpensesOther ExpensesNet IncomeNet Income
RATIOS
100.00% GROSS MARGIN
100.00%
94.48% OPERATING MARGIN
94.48%
11.69% NET MARGIN
11.69%
3.79% ROE
3.79%
1.60% ROA
1.60%
12.47% ROIC
12.47%
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis WhiteHorse Finance, Inc.
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100m100m80m80m60m60m40m40m20m20m00(20m)(20m)(40m)(40m)(60m)(60m)(80m)(80m)(100m)(100m)20162016201720172018201820192019202020202021202120222022202320232024202420252025
Net Income 10.9 M
Depreciation & Amortization 9.57 M
Capital Expenditures 0
Stock-Based Compensation 0
Change in Working Capital 13 M
Others 55.5 M
Free Cash Flow 78.8 M
3. WALL STREET ANALYSTS ESTIMATES
Wall Street Analysts Price Targets WhiteHorse Finance, Inc.
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Wall Street analysts predict an average 1-year price target for WHF of $12 , with forecasts ranging from a low of $12 to a high of $12 .
WHF Lowest Price Target Wall Street Target
12 USD 36.36%
WHF Average Price Target Wall Street Target
12 USD 36.36%
WHF Highest Price Target Wall Street Target
12 USD 36.36%
Price
Max Price Target
Min Price Target
Average Price Target
1212121211111111101010109999May '24May '24Jul '24Jul '24Aug '24Aug '24Oct '24Oct '24Nov '24Nov '2420252025Feb '25Feb '25Apr '25Apr '25Jun '25Jun '25Jul '25Jul '25Aug '25Aug '25Oct '25Oct '25Nov '25Nov '2520262026Feb '26Feb '26Apr '26Apr '26
4. DIVIDEND ANALYSIS
0.01% DIVIDEND YIELD
0.385 USD DIVIDEND PER SHARE
Q1
Q2
Q3
Q4
1.6001.6001.4001.4001.2001.2001.0001.0000.8000.8000.6000.6000.4000.4000.2000.2000.0000.0000.3550.3550.3550.3550.3550.3550.3550.3550.3550.4250.3850.3850.3550.3550.3550.3550.3550.3550.3550.3550.370.3850.3550.3550.3550.3550.3550.3550.3550.3550.370.3850.3551.420.3551.420.3551.420.3551.420.1951.260.3551.420.1251.190.3551.420.1351.230.3551.550.050.440.3550.740.3850.390.2450.250.3850.392015201520162016201720172018201820192019202020202021202120222022202320232024202420252025
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5. COMPETITION
slide 2 of 12
6. Ownership
Insider Ownership WhiteHorse Finance, Inc.
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Sold
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
24.3 M USD 2
Bought
0 USD 0
0-3 MONTHS
0 USD 0
3-6 MONTHS
200 K USD 1
6-9 MONTHS
0 USD 0
9-12 MONTHS
7. News
2 BDCs With Uninterrupted Dividends: 1 Will Likely Become Aristocrat, 1 Likely About To Cut BDCs face challenges due to declining earnings, increased private credit supply, and recession concerns, impacting dividend sustainability. Many BDCs have already cut their dividends to align earnings with the cash distributions. Yet, there is still a long list of BDCs that have maintained their base dividends safe. seekingalpha.com - 3 weeks ago
WhiteHorse Finance: Still No Signs Of Improvement WhiteHorse Finance continues to struggle with deteriorating portfolio quality and lower earnings, leading to a maintained sell rating. WHF's price declined nearly 20% over the past year, with total returns at negative 6.78%, and dividend sustainability is questionable. Despite trading at a discount to NAV, WHF's poor performance and high non-accrual rates make it less attractive compared to peers. seekingalpha.com - 1 month ago
The Moment Of Truth For BDC Dividend Investors Is Close As a structural BDC bull I have to admit that the period of BDCs consistently surprising us on the upside has come to an end. Many lower quality BDCs have already cut their dividends to sync their cash flows with less favorable private credit lending environment. I would say that the moment of truth for high quality BDCs is also very close, where we will see how really durable their base dividends are. seekingalpha.com - 1 month ago
WhiteHorse Finance (WHF) Q4 2024 Earnings Call Transcript Call Start: 14:00 January 1, 0000 2:33 PM ET WhiteHorse Finance (NASDAQ:WHF ) Q4 2024 Earnings Conference Call March 07, 2025 02:00 PM ET Company Participants Robert Brinberg - President, Rose & Company Stuart Aronson - CEO Joyson Thomas - CFO Conference Call Participants Mickey Schleien - Ladenburg Sean-Paul Adams - Raymond James Melissa Wedel - JPMorgan Operator Good afternoon. My name is David, and I will be your conference operator today. seekingalpha.com - 1 month ago
WhiteHorse Finance (WHF) Lags Q4 Earnings and Revenue Estimates WhiteHorse Finance (WHF) came out with quarterly earnings of $0.34 per share, missing the Zacks Consensus Estimate of $0.39 per share. This compares to earnings of $0.46 per share a year ago. zacks.com - 1 month ago
WhiteHorse Finance, Inc. Announces Fourth Quarter and Full Year 2024 Earnings Results and Declares Quarterly Distribution of $0.385 Per Share NEW YORK , March 7, 2025 /PRNewswire/ -- WhiteHorse Finance, Inc. ("WhiteHorse Finance" or the "Company") (Nasdaq: WHF) today announced its financial results for the fourth quarter and year ended December 31, 2024. In addition, the Company's board of directors has declared a distribution of $0.385 per share with respect to the fourth quarter and year ended December 31, 2024. prnewswire.com - 1 month ago
BDC Dividend Cut Party Has Begun, Here Are Next 2 In Line BDC Dividend Cut Party Has Begun, Here Are Next 2 In Line seekingalpha.com - 1 month ago
Is WhiteHorse Finance (WHF) Stock Undervalued Right Now? Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks. zacks.com - 1 month ago
Yield Hunting Part 11: 7.92% YTM With WhiteHorse And Its Baby Bond WHFCL WhiteHorse Finance, Inc. offers attractive risk-adjusted returns through senior secured loans to lower middle market companies, with a focus on disciplined underwriting and portfolio growth. WHFCL, WhiteHorse Finance's baby bond, is trading above par with a yield to call of 7.08% and a yield to maturity of 7.92%. WHF has a Baa2 credit score, reflecting solid asset quality, debt structure, and profitability, positioning it well within the BDC sector. seekingalpha.com - 1 month ago
Should Value Investors Buy WhiteHorse Finance (WHF) Stock? Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks. zacks.com - 2 months ago
WhiteHorse Finance, Inc. To Report Fourth Quarter 2024 and Full Year Financial Results NEW YORK , Feb. 3, 2025 /PRNewswire/ -- WhiteHorse Finance, Inc. ("WhiteHorse Finance" or the "Company") (Nasdaq: WHF) today announced that it will release its fourth quarter and full year financial results for the year ended December 31, 2024 on Friday, March 7, 2025. The Company will discuss its financial results on a conference call that day at 2:00 p.m. prnewswire.com - 2 months ago
Should Value Investors Buy WhiteHorse Finance (WHF) Stock? Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks. zacks.com - 2 months ago
8. Profile Summary

WhiteHorse Finance, Inc. WHF

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COUNTRY US
INDUSTRY Asset Management
MARKET CAP $ 205 M
Dividend Yield 0.01%
Description WhiteHorse Finance, Inc. is business development company, non-diversified, closed end management company specializing in originating senior secured loans, lower middle market, growth capital industries. It prefers to invest in United States. It typically invests between $5 million to $25 million in companies having enterprise value of between $50 million and $350 million.
Contact 1450 Brickell Ave Fl 31, Miami, FLORIDA, 33131 https://www.whitehorsefinance.com
IPO Date Dec. 6, 2012
Employees None
Officers Mr. Marco A. Collazos Chief Compliance Officer Mr. Joyson C. Thomas CPA Chief Financial Officer & Principal Accounting Officer Mr. Richard H. Siegel J.D. Secretary Mr. Stuart D. Aronson Chief Executive Officer & Director