WhiteHorse Finance, Inc.
WHF Nasdaq·
Last close · Oct 23, 2026
$7.96
KIRA · Stoqly’s AI analyst, in plain words
- WhiteHorse Finance, Inc. had $72.7M of revenue in fiscal 2025, down 21.7% on the year before. Over five years, revenue changed +3.3% a year on average.
- WhiteHorse Finance, Inc. made $14.3M of net profit in fiscal 2025. From fiscal 2020 to 2025, diluted EPS grew −16.7% a year.
- WhiteHorse Finance, Inc. returned $7.4M to shareholders in fiscal 2025. The diluted share count fell 0.3%.
- WhiteHorse Finance, Inc. owes $317M more than it holds in cash.
Market cap
$172M
P/E
10.1x
Revenue
$72.7M
Net income
$14.3M
Free cash flow
—
Operating margin
—
WhiteHorse Finance, Inc. in 30 seconds · fiscal 2025
Are sales growing?
−21.7%
No. Sales fell 21.7% last year.
Does it make a profit?
19.7%
Yes. It keeps 19.7% of every sale as profit.
How healthy are the accounts?
5 / 7
Mixed. It passes 5 of 7 health tests.
How is the share priced?
10.1x
One share costs 10.1 times its yearly profit per share.
What WhiteHorse Finance, Inc. does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 6, 2026
- Legal name
- WhiteHorse Finance, Inc.
- CIK
- 0001552198
WhiteHorse Finance, Inc. · WHF
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $72.1M | $87.5M | $103M | $92.8M | $72.7M |
| Revenue growth | 16.9% | 21.3% | 18.0% | −10.1% | −21.7% |
| Net income | $30.1M | $15.7M | $20.4M | $10.9M | $14.3M |
| Net margin | 41.7% | 17.9% | 19.8% | 11.7% | 19.7% |
| Diluted EPS | $1.42 | $0.68 | $0.88 | $0.47 | $0.62 |
| Cash | |||||
| Cash from operations | −$90.2M | $72.0M | $90.4M | $78.8M | $77.3M |
| Share buybacks | — | — | — | — | $7.4M |
| Share count change | 2.9% | 9.8% | 0.1% | 0.0% | −0.3% |
| Debt and strength | |||||
| Cash and short-term investments | $12.2M | $9.5M | $10.7M | $12.4M | $7.0M |
| Debt incl. finance leases | $476M | $440M | $386M | $353M | $324M |
| Shareholders' equity | $350M | $332M | $317M | $286M | $260M |
| Returns and quality | |||||
| Return on equity | 9.1% | 4.6% | 6.3% | 3.6% | 5.3% |
| Return on tangible equity | 8.6% | 4.7% | 6.4% | 3.8% | 5.5% |
| Piotroski F-score | — | 5 | 6 | 5 | 5 |
Insiders bought, 12 months
$1.5M
4 insiders
Insiders sold, 12 months
$0.0M
1 insider
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
WhiteHorse Finance, Inc. · WHF
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $7.96 a share, the company is worth $172M: 10.1 times its earnings of the last four quarters.
Source: SEC EDGAR XBRL filings (CIK 0001552198). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.