WhiteHorse Finance, Inc. (WHF) Stock

WhiteHorse Finance, Inc. (WHF) is a Financial Services stock trading at $6.55 (as of 2026-07-24), with a market capitalization of $141.55M and a trailing P/E of 15.1. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

WhiteHorse Finance, Inc. is a business development company that focuses on originating senior secured loans to lower middle market companies and providing growth capital, primarily in the United States. It invests amounts such as $5 million to $25 million in companies with enterprise values typically between $50 million and $350 million.

Understand WhiteHorse Finance, Inc.: how it makes money

WhiteHorse Finance originates senior secured loans and invests growth capital in lower middle market companies, aiming to make money from income generated by its loan investment portfolio.

Profit is driven by how well the senior secured loans (and related investments) it originates perform after underwriting, since those assets are the core of its income-producing portfolio.

Business quality (Weak): The provided segment breakdown does not reconcile with the reported total revenue for 2026-03-31 (revenue_b is shown as 0.0B while a segment candidate shows 1.6B), so no reliable reportable segments are presented. The only provided operating KPI label appears unrelated to this company, so it should be treated cautiously as a data-quality mismatch.

Valuation: At 17× earnings, WHF trades 63% above the Asset Management average (10×). Note: one-time items can distort reported P/E.

Bull case

  • Niche focus on loan origination: It specializes in originating senior secured loans for lower middle market, growth capital industries.
  • Defined target deal sizes: It typically invests $5 million to $25 million in companies with enterprise value of $50 million to $350 million, which can support a consistent underwriting approach.

Bear case

  • Credit risk in its loan portfolio: Because it originates and invests in loans, borrower credit performance can directly affect results, including the risk of defaults or losses.
  • Potential concentration risk: It prefers to invest in the United States and focuses on the lower middle market, which can concentrate exposure to regional and sector conditions.
  • Data-quality risk in this dataset: The provided segment candidate and the provided operating KPI label appear inconsistent or unrelated, limiting the usefulness of segment and KPI-based analysis from the supplied facts.
Valuation — source: SEC EDGAR (first-party)
Price$6.55
Market Cap$141.55M
P/E Ratio15.1
Price / Book0.57
Price / Sales2.03
DCF Value (model)$6.80
DCF Upside vs Price3.8%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$72.67M
Net Margin19.7%
Revenue Growth (YoY)-15.6%
EPS Growth (YoY)-116.7%
Valuation vs Sector & Industry
Stock P/E15.1
Sector P/E (Financial Services)8.9
Industry P/E (Asset Management)8.9
vs Sector69.5%
vs Industry69.1%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Insider Buys (12mo)13
Insider Sells (12mo)1
Top Institutional HolderLalia Capital, LLC ($5.10M)
Institutional Holders Tracked10
Company
SectorFinancial Services
IndustryAsset Management
CEOJoyson C. Thomas
CountryUS
IPO Date2012-12-06

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WHF earnings history · WHF institutional & insider holders · WHF KPIs & operating metrics · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-07-24.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.