WHITEHORSE FINANCE INC (WHF) Fundamental Analysis & Valuation

NASDAQ:WHF • US96524V1061

Current stock price

7.26 USD
-0.06 (-0.82%)
At close:
7.0429 USD
-0.22 (-2.99%)
After Hours:

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

  • 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.
  • 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

  • Looking at the Return On Assets, with a value of 2.33%, WHF is in line with its industry, outperforming 48.54% of the companies in the same industry.
  • WHF has a Return On Equity (5.52%) which is comparable to the rest of the industry.
  • With a Return On Invested Capital value of 3.53%, WHF perfoms like the industry average, outperforming 50.21% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for WHF is below the industry average of 7.28%.
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

  • With a Profit Margin value of 19.73%, WHF perfoms like the industry average, outperforming 55.65% of the companies in the same industry.
  • WHF's Profit Margin has declined in the last couple of years.
  • The Operating Margin of WHF (35.93%) is better than 66.95% of its industry peers.
  • In the last couple of years the Operating Margin of WHF has declined.
  • The Gross Margin of WHF (44.23%) is comparable to the rest of the industry.
  • In the last couple of years the Gross Margin of WHF has remained more or less at the same level.
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
  • The number of shares outstanding for WHF has been increased compared to 5 years ago.
  • The debt/assets ratio for WHF is higher compared to a year ago.
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

  • WHF has an Altman-Z score of 0.34. This is a bad value and indicates that WHF is not financially healthy and even has some risk of bankruptcy.
  • The Altman-Z score of WHF (0.34) is worse than 64.44% of its industry peers.
  • 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 better Debt to FCF ratio (4.19) than 74.90% 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 61.51% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.25
Debt/FCF 4.19
Altman-Z 0.34
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.
  • WHF has a worse Current ratio (0.45) than 76.57% of its industry peers.
  • 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 76.57% 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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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

  • The Earnings Per Share is expected to decrease by -1.50% on average over the next years.
  • The Revenue is expected to decrease by -5.95% on average over the next years.
EPS Next Y-4.73%
EPS Next 2Y-1.5%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-4.5%
Revenue Next 2Y-5.95%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better 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

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6

4. WHF Valuation Analysis

4.1 Price/Earnings Ratio

  • WHF is valuated cheaply with a Price/Earnings ratio of 6.48.
  • 83.68% of the companies in the same industry are more expensive than WHF, based on the Price/Earnings ratio.
  • When comparing the Price/Earnings ratio of WHF to the average of the S&P500 Index (25.23), we can say WHF is valued rather cheaply.
  • With a Price/Forward Earnings ratio of 6.81, the valuation of WHF can be described as very cheap.
  • Based on the Price/Forward Earnings ratio, WHF is valued cheaper than 86.61% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 22.51. WHF is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 6.48
Fwd PE 6.81
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

  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of WHF indicates a rather cheap valuation: WHF is cheaper than 91.63% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 2.09
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

PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-1.5%
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 14.62%, which is a nice return.
  • Compared to an average industry Dividend Yield of 6.72, WHF pays a better dividend. On top of this WHF pays more dividend than 86.61% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.90, 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 0.78%.
  • WHF has been paying a dividend for at least 10 years, so it has a reliable track record.
  • The dividend of WHF decreased in the last 3 years.
Dividend Growth(5Y)0.78%
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 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.
  • The Dividend Rate of WHF has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP255.35%
EPS Next 2Y-1.5%
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 (3/26/2026, 8:00:02 PM)

After market: 7.0429 -0.22 (-2.99%)

7.26

-0.06 (-0.82%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)03-02
Earnings (Next)05-11
Inst Owners16.99%
Inst Owner Change10.58%
Ins Owners4.55%
Ins Owner Change10.93%
Market Cap161.39M
Revenue(TTM)72.67M
Net Income(TTM)14.34M
Analysts48.33
Price Target7.82 (7.71%)
Short Float %2.54%
Short Ratio3.58
Dividend
Industry RankSector Rank
Dividend Yield 14.62%
Yearly Dividend1.61
Dividend Growth(5Y)0.78%
DP255.35%
Div Incr Years2
Div Non Decr Years2
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)3.18%
EPS NQ rev (3m)3.18%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-4.59%
Revenue NY rev (1m)-1.2%
Revenue NY rev (3m)-11.44%
Valuation
Industry RankSector Rank
PE 6.48
Fwd PE 6.81
P/S 2.22
P/FCF 2.09
P/OCF 2.09
P/B 0.62
P/tB 0.62
EV/EBITDA N/A
EPS(TTM)1.12
EY15.43%
EPS(NY)1.07
Fwd EY14.68%
FCF(TTM)3.48
FCFY47.88%
OCF(TTM)3.48
OCFY47.88%
SpS3.27
BVpS11.69
TBVpS11.69
PEG (NY)N/A
PEG (5Y)N/A
Graham Number17.16
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 0.34
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-4.73%
EPS Next 2Y-1.5%
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 Year-4.5%
Revenue Next 2Y-5.95%
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.


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 4 / 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 255.35%.