WhiteHorse Finance, Inc.

WhiteHorse Finance, Inc.

WHF
WhiteHorse Finance, Inc.US flagNASDAQ Global Select
6.76
USD
-0.13
- -
146.09MMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
1.48
1.56
0.04
1.87
1.91
2.98
1.67
1.75
1.67
0.92
1.1
0.74
- -
0.67
Basic EPS, GAAP
1.27
1.3
-0.18
1.71
1.77
2.79
1.5
1.54
1.42
0.68
0.88
0.47
- -
0.41
Free Cash Flow per Basic Share
-0.89
-9.33
-0.59
1.86
0.37
1.51
-4.62
-3.14
-4.26
3.1
3.89
3.39
- -
4.92
Dividend per Share
1.16
1.41
1.39
1.42
1.36
1.41
1.62
1.54
1.41
1.43
1.52
1.79
- -
1.45
Book Value per Share
-0.06
-0.39
-0.48
-0.3
-0.79
0.67
0.59
0.63
0.5
-0.3
-0.93
-2.2
- -
-3.31
Tangible Book Value per Share
15.16
15.04
15.93
13.62
14.77
15.35
15.23
15.23
16.54
14.31
13.63
12.31
- -
10.94
Basic Weighted Avg Shares
15
15
15
18
19
21
21
21
21
23
23
23
- -
23
Sales/Revenue/Turnover
22
23
1
34
37
61
34
36
35
21
26
17
20
15
Operating Margin (%)
111.36
95.91
4,815.83
102.82
96.92
- -
- -
- -
- -
- -
- -
- -
- -
- -
Depreciation Expense
- -
3
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Net Income, GAAP
19
20
-3
31
34
57
31
32
30
16
20
11
14
9
Effective Tax Rate (%)
- -
- -
- -
- -
- -
1.62
2.57
2.29
3.23
6.13
4.51
9.36
4.41
6.77
Profit Margin (%)
85.96
83.78
-443.26
91.51
92.68
93.47
90.07
87.97
85.12
73.45
79.48
63.47
71.07
61.21
Working Capital
65
12
16
19
28
- -
- -
- -
- -
- -
- -
- -
- -
- -
LT Debt
110
190
183
182
182
176
299
385
476
440
386
353
324
324
Total Equity
227
225
244
249
287
315
313
313
350
332
317
286
260
250
Return on Invested Capital (%)
6.97
5.94
- -
8.19
8
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
19.37
17.27
- -
22.39
25.75
32.15
12.32
8.94
6.81
3.41
5.11
3.25
5.15
3.39
Return on Common Equity (%)
- -
- -
- -
- -
- -
- -
237.7
252.41
256.28
- -
- -
- -
- -
- -

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
23
22
22
Market Capitalization
161
162
169

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
10
7
12
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
0.96%
-3.35%
-9.21%
Free Cash Flow
-79.15%
-25.88%
-1.89%
Net Income, GAAP
-121.24%
-7.49%
32.13%
Sales/Revenue/Turnover
526.38%
-7.32%
18%
Total Cash Common Dividend
6.11%
3.48%
-11.76%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
7
9
-5
6
17
2025
5
4
1
10
20
2026
1
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.26
0.34
-0.3
- -
0.47
2025
0.18
0.1
-0.02
- -
- -
2026
-0.03
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.39
0.39
0.39
- -
1.79
2025
0.39
0.39
0.39
- -
- -
2026
0.25
- -
- -
- -
- -

Company Description

APIChat
CEO
Stuart Daniel Aronson
Full Time Employees
2
Sector
Financial Services
Industry
Asset Management
Address
1450 Brickell Ave Fl 31 Miami FL United States of America 33131
IPO Date
Dec 6, 2012
Business
WhiteHorse Finance, Inc. WhiteHorse Finance, Inc. is an externally managed, non-diversified, closed-end business development company under the Investment Company Act of 1940 that originates and invests primarily in senior secured loans to lower middle-market companies principally in the United States. The company targets firms with enterprise values between $50 million and $350 million, providing first lien senior secured debt, second lien debt, mezzanine debt, unitranche loans, and equity investments including warrants for leveraged buyouts, recapitalizations, growth financings, and acquisitions across industries such as broadline retail, building products, healthcare services and supplies, application software, data processing services, leisure facilities, and cable and satellite. WhiteHorse Finance, Inc. operates with a portfolio comprising approximately 78% first lien secured loans, 1% second lien secured loans, minor unsecured loans and equity holdings, and investments in joint ventures; its investments generate current income from interest and fees alongside potential capital appreciation. Founded in 2011 and headquartered at 1450 Brickell Avenue in Miami, Florida, the company is advised by H.I.G. WhiteHorse Advisers LLC, an affiliate of H.I.G. Capital LLC, leveraging a proprietary three-tier sourcing platform including over 60 direct lending professionals, H.I.G.'s deal database, and a global network of 500 investment experts. Recent developments include the announcement of third quarter 2025 earnings results coupled with a new stock repurchase program of up to $15 million and a quarterly distribution declaration, alongside portfolio activity such as WhiteHorse Capital's provision of a first lien credit facility to Amuze Bar Partners in September 2024 to support growth and a £81 million senior secured facility to Summit Group in October 2025 for refinancing and the acquisition of R&H Jersey to expand international fiduciary and advisory services across Jersey, Guernsey, Switzerland, the UAE, Cayman Islands, and the UK.

Company News

APIChat
  • WhiteHorse Finance Q1 Earnings Call Highlights

  • WhiteHorse Finance (WHF) Q1 2026 Earnings Call Transcript

  • WhiteHorse Finance (WHF) Q1 Earnings and Revenues Miss Estimates

  • WhiteHorse Finance, Inc. Announces First Quarter 2026 Earnings Results And Declares Quarterly Distribution of $0.25 Per Share

  • Are Investors Undervaluing WhiteHorse Finance (WHF) Right Now?

  • WhiteHorse Finance, Inc. To Report First Quarter 2026 Financial Results

  • WhiteHorse Finance (NASDAQ:WHF) vs. FS KKR Capital (NYSE:FSK) Critical Survey

  • WhiteHorse Finance: Dividend Yield And Discount To NAV Deepen Radically

  • WhiteHorse Finance: Q4 Shows Improvements But Still Not A Buy (Rating Upgrade)

  • WhiteHorse Finance (WHF) Q4 2025 Earnings Call Transcript

  • WhiteHorse Finance (WHF) Q4 Earnings and Revenues Beat Estimates

  • WhiteHorse Finance, Inc. Announces Fourth Quarter and Full Year 2025 Earnings Results and Declares Quarterly Distribution of $0.25 Per Share and Supplemental Distribution of $0.01 Per Share

  • WhiteHorse Finance (NASDAQ:WHF) & TriplePoint Venture Growth BDC (NYSE:TPVG) Critical Survey

  • WhiteHorse Finance, Inc. To Report Fourth Quarter 2025 and Full Year Financial Results

  • WhiteHorse Finance (NASDAQ:WHF) & Trinity Capital (NASDAQ:TRIN) Head to Head Comparison

  • Contrasting Bain Capital Specialty Finance (NYSE:BCSF) and WhiteHorse Finance (NASDAQ:WHF)

  • Head-To-Head Contrast: Chicago Atlantic BDC (NASDAQ:LIEN) versus WhiteHorse Finance (NASDAQ:WHF)

  • Financial Survey: Advanced Medical Isotope (OTCMKTS:RDGL) and WhiteHorse Finance (NASDAQ:WHF)

  • WhiteHorse Finance (NASDAQ:WHF) Shares Cross Below 200 Day Moving Average – Here’s What Happened

  • Comparing WhiteHorse Finance (NASDAQ:WHF) and Golub Capital BDC (NASDAQ:GBDC)