Stocks · Financial Services · Asset Management
WhiteHorse Finance, Inc. WHF
$6.98 +1.75% Close, Oct 2, 2026 · NASDAQ · Market cap $149.9M
Inexpensive vs sector
Next earnings report: Nov 9, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Diluted EPS over the last four quarters was $0.79, up 194.3% year over year.
- Operating margin widened to 46.8% from 12.5% a year earlier.
- Revenue over the last four quarters was $47.1M, up 33.6% from a year earlier, accelerating from 2.2% a quarter earlier.
PromtFinance scores
Each score is a percentile within the Financial Services sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 12%
- EPS growth (TTM, YoY)Top 5%
- FCF growth (TTM, YoY)Bottom 13%
- Revenue growth, 3-year CAGRBottom 4%
- Revenue growth accelerationTop 3%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 36%
- Gross marginBottom 40%
- Operating marginTop 9%
- Cash conversion (OCF / net income)Top 5%
- Accruals (lower is better)Top 12%
- Net debt / EBITDA (lower is better)Bottom 12%
- Interest coverTop 47%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldTop 12%
- Free-cash-flow yieldTop 6%
- EBITDA / enterprise valueBottom 48%
- Sales / enterprise valueBottom 11%
- P/E vs own 5-year history (lower is better)Top 14%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthBottom 47%
- 6-month returnBottom 13%
- 1-year return vs S&P 500Top 48%
- Distance from 52-week highBottom 48%
- Trend checklist (0–4)Top 27%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersBottom 18%
- Consecutive EPS beatsBottom 17%
- Share of analysts rating BuyBottom 22%
- Upside to consensus price targetTop 6%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Bottom 32%
- Maximum drawdown, 3 yearsBottom 15%
- Beta vs S&P 500 (lower is better)Top 22%
- Net debt / EBITDA (lower is better)Bottom 12%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 2.2% | 33.6% | ↑ |
| EPS growth (YoY) | -21.2% | 194.3% | ↑ |
| Gross margin | 27.0% | 61.2% | ↑ |
| Operating margin | 12.5% | 46.8% | ↑ |
| FCF margin | 303.2% | 141.3% | ↓ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 33.6% | 2.2% | ↑ | Top 12% |
| EPS growth (TTM, YoY) | 194.3% | -21.2% | ↑ | Top 5% |
| Gross margin | 61.2% | 27.0% | ↑ | Bottom 40% |
| Operating margin | 46.8% | 12.5% | ↑ | Top 9% |
| Net margin | 37.2% | 10.1% | ↑ | — |
| Free-cash-flow margin | 141.3% | 303.2% | ↓ | — |
| Return on invested capital | 3.7% | — | Top 36% | |
| Revenue growth, 3-year CAGR | -4.3% | — | Bottom 4% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 3.00×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -8.1%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 0.0%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -55.2 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 10.69×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 1.1×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 20.05%
- Net buyback yield (TTM)
- 3.72%
- Shareholder yield
- 23.77%
- Share count change, 1 year
- -7.2%
- Share count change, 3-year CAGR
- -2.5%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 10, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 0
- Beats in the last 8 reports
- 1 of 8
- Average EPS surprise, last 4
- -5.6%
- Average 2-day reaction, last 8
- +0.0%
- Positive 20 days after report
- 3 of 8
Analysts
- Consensus price target
- $12.00
- Target vs current price
- +71.9%
- Analysts with a rating
- 18
- Share rating Buy or Strong Buy
- 28%
- Consensus rating
- Hold
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Aug 11, 2026 | -12.3% | +6.6% | +5.5% | +4.9% | — |
| May 7, 2026 | -7.1% | -0.3% | -4.7% | -10.7% | -14.3% |
| Mar 2, 2026 | +7.4% | +6.7% | +17.8% | +13.3% | +5.1% |
| Nov 10, 2025 | -10.5% | -5.1% | -1.0% | +7.5% | -9.0% |
| Aug 7, 2025 | -9.7% | -3.0% | -3.5% | -1.0% | -18.8% |
| May 12, 2025 | -12.1% | +0.8% | -1.1% | -1.3% | -5.2% |
| Mar 7, 2025 | -12.8% | -4.5% | -7.4% | -10.9% | -14.6% |
| Nov 7, 2024 | -7.1% | -0.9% | -10.1% | -10.2% | -11.5% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Aug 11, 2026 | $0.22 | $0.25 | -12.3% | $14.4M |
| May 7, 2026 | $0.26 | $0.28 | -7.1% | $15.9M |
| Mar 2, 2026 | $0.29 | $0.27 | +7.4% | $17.2M |
| Nov 10, 2025 | $0.26 | $0.29 | -10.5% | $15.9M |
| Aug 7, 2025 | $0.28 | $0.31 | -9.7% | $10.0M |
| May 12, 2025 | $0.29 | $0.33 | -12.1% | $11.7M |
| Mar 7, 2025 | $0.34 | $0.39 | -12.8% | $12.0M |
| Nov 7, 2024 | $0.39 | $0.42 | -7.1% | $1.5M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 8.9× | 12.7× | 14th | Top 12% |
| P/E (forward) | 7.2× | — | — | — |
| EV / EBITDA | 16.1× | — | — | Bottom 48% |
| EV / Sales | 9.48× | — | — | Bottom 11% |
| Free-cash-flow yield | 44.42% | — | — | Top 6% |
| Earnings yield | 11.25% | — | — | Top 12% |
P/E over the past five years
Range 6.5× – 31.9× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- +5.8%
- Earnings per share growth (TTM)
- +194.3%
- Change in P/E multiple
- -73.2%
Most of the move came from a change in the valuation multiple.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✓ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 1
- Days above the 200-day average
- 1
- 50-day average slope (20 days)
- +3.5%
- 200-day average slope (20 days)
- -0.4%
- Distance from 50-day average
- +0.2%
- Distance from 200-day average
- +0.4%
- RSI (14)
- 47.3
- Relative volume
- 1.39×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 27.1%
- Volatility vs own 5-year history
- 66th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 0.26
- Correlation with S&P 500
- 0.14
- Current drawdown from 1-year high
- -9.5%
- Maximum drawdown, 3 years
- -53.3%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Apr 13, 2021 | Feb 24, 2026 | -62.9% | 1222 days | Not yet recovered |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $149.9M
- P/E (TTM)
- 8.9
- EPS, diluted (TTM)
- $0.79
- Revenue (TTM)
- $47.1M
- Dividend yield
- 14.97%
- 52-week range
- $6.07 – $7.84
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $51.9M | $43.3M | $55.6M | $17.1M | $37.9M |
| Gross profit | $35.4M | $21.4M | $25.7M | $17.1M | $19.8M |
| Operating income | $31.1M | $16.7M | $21.4M | $12.0M | $38.2M |
| Net income | $30.1M | $15.7M | $20.4M | $10.9M | $14.3M |
| EPS (diluted) | $1.42 | $0.68 | $0.88 | $0.47 | $0.62 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.5M | $12.0M | $11.7M | $10.0M | $6.7M | $14.9M | $11.2M | $14.4M |
| Net income | -$6.9M | $3.9M | $4.3M | $2.3M | -$556,000 | $8.4M | -$687,000 | $10.4M |
| EPS (diluted) | -$0.30 | $0.17 | $0.30 | $0.10 | -$0.02 | $0.36 | -$0.03 | $0.48 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $30.3M | $29.0M | $90.4M | $78.8M | $19.3M |
| Capital expenditure | $0 | $0 | $0 | $0 | $0 |
| Free cash flow | $30.3M | $29.0M | $90.4M | $78.8M | $19.3M |
| Dividends paid | $0 | $0 | -$35.3M | -$2.5M | -$36.6M |
| Net share buybacks | $37.5M | -$125,000 | $0 | $0 | -$7.4M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $27.9M
- Total assets
- $604.1M
- Total liabilities
- $351.3M
- Total debt
- $324.9M
- Net debt
- $296.9M
- Shareholders’ equity
- $252.8M
As of Jun 30, 2026 (filed Aug 10, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Sep 21, 2026 | $0.25 | Oct 5, 2026 |
| May 21, 2026 | $0.25 | Jul 6, 2026 |
| Mar 12, 2026 | $0.26 | Apr 6, 2026 |
| Dec 22, 2025 | $0.25 | Jan 5, 2026 |
| Oct 31, 2025 | $0.04 | Dec 10, 2025 |
| Sep 19, 2025 | $0.39 | Oct 3, 2025 |
| Jun 18, 2025 | $0.39 | Jul 3, 2025 |
| Mar 21, 2025 | $0.39 | Apr 4, 2025 |
Short interest
- Shares sold short
- 261,645
- Days to cover
- 3.71
- Change vs previous report
- -1.4%
FINRA short interest, settlement date Sep 15, 2026.