Is WHF a good stock to buy right now?

Based on our 6-factor quantitative model, WhiteHorse Finance, Inc. (WHF) receives a "Hold" rating with a composite score of 44.2/100. It is ranked #1,337 out of 4,446 stocks. Key factor scores: Quality 56/100, Value 35/100, Momentum 34/100. The timing signal is "Neutral". This is quantitative analysis only — not investment advice.

What is the stock rating for WHF?

WhiteHorse Finance, Inc. (WHF) has a "Hold" rating and 3-star score. The composite score of 44.2 ranks it #1,337 among 4,446 U.S. stocks. Ratings are updated weekly using academically-proven factor models.

What sector is WHF in?

WhiteHorse Finance, Inc. operates in the Financials sector (Financial Services industry) with a market cap of $158 million. It is classified as a micro-cap stock.

Does WHF pay a dividend?

Yes, WHF pays a dividend with a current yield of 25.92%. The Financials sector average yield is 2.48%. For every $1,000 invested, you would receive approximately $259.20 in annual dividend income.

What is WHF's P/E ratio?

WHF has a trailing P/E ratio of 12.31x. The Financials sector average is 14.9x. This below-average P/E may indicate the stock is undervalued.

How profitable is WHF?

WHF's quality factor score is 56/100. Gross margin: 100.0%. ROE: -0.4% vs sector average 8.5%. High margins suggest pricing power and competitive moats.

How is WHF valued compared to peers?

WHF's value factor score is 35/100 (higher = cheaper). Key multiples: P/E 12.3x, EV/EBITDA 3.7x. Trading at a premium relative to peers.

What is WHF's debt level?

WHF's debt-to-equity ratio is 125%. Sector average: 121%. Moderate leverage is normal for established companies.

WHF has a beta of 0.41, meaning it is less volatile than the market. Stability score: 74/100.

Does WHF have high short interest?

WHF's short interest factor score is 25/100 (higher = less short selling). Elevated short interest may indicate bearish sentiment or short squeeze potential.

WHF Stock Analysis: Top Micro-Cap Hold (Score 44.2/100) | Blank Capital Research

Data Series	1D	5D	1M	YTD	1Y	3Y	5Y	10Y
WHF	-0.92%	+2.16%	-0.26%	+8.78%	-15.34%	-	-	-
Industry Proxy XLF	-1.09%	+2.50%	+1.42%	-7.30%	+10.59%	-	-	-
U.S. Market SPY	-0.07%	+3.60%	+0.34%	-0.36%	+29.52%	-	-	-
Alpha vs Market	-0.85%	-1.44%	-0.60%	+9.14%	-44.87%	-	-	-
Alpha vs Sector	+0.17%	-0.34%	-1.68%	+16.08%	-25.93%	-	-	-

Metric	WHF	Benchmark
P/E Ratio	12.3x	-17%
EV/EBITDA	3.7x	+12%
Price / Book	0.6x

Stock Entity	Score▼	Quality	Value	Momentum	P/E Ratio	ROE	Gross Margin	Net Margin	Rev Growth	D/E Ratio	Market Cap	Compare
WTM WHITE MOUNTAINS INSURANCE GROUP LTD	63	80	79	54	8.9x	10.1%	96.3%	20.1%	1.6%	14.0x	$5.4B	VS
OPY OPPENHEIMER HOLDINGS INC	63	68	79	63	10.4x	9.9%	0.0%	6.5%	37.5%	273.0x	$959M	VS
ACT Enact Holdings, Inc.	62	81	76	52	8.7x	12.7%	88.5%	55.0%	4.2%	14.0x	$5.7B	VS
IGIC International General Insurance Holdings Ltd.	61	74	93	50	8.6x	82.6%	59.9%	25.1%	-	0.0x	$1.1B	VS
PKBK PARKE BANCORP, INC.	60	60	77	65	9.8x	10.5%	-	24.8%	20.9%	593.0x	$335M	VS
SSSS SURO CAPITAL CORP.	60	89	33	65	4.7x	30.9%	0.0%	-752.0%	-48.3%	34.0x	$290M	VS
CB Chubb Ltd	59	67	71	52	12.8x	12.5%	0.0%	16.6%	15.6%	20.0x	$128.0B	VS
RRBI RED RIVER BANCSHARES INC	59	59	69	68	15.0x	11.0%	0.0%	27.5%	13.3%	818.0x	$607M	VS
UFCS UNITED FIRE GROUP INC	59	64	78	58	9.8x	10.6%	100.0%	7.3%	17.5%	308.0x	$936M	VS
SPFI SOUTH PLAINS FINANCIAL, INC.	58	59	73	55	12.8x	11.0%	0.0%	21.7%	9.0%	807.0x	$690M	VS
WHF WhiteHorse Finance, Inc.	44	56	35	34	12.3x	-0.4%	100.0%	3.1%	-34.3%	125.0x	$158M

Key Ratio	TTM	2025	2024	2023	2022	2021
Gross Margin %	1.0%	-	-	-	-	1.0%
Operating Margin %	0.0%	-	-	-	-	-0.0%
EBITDA Margin %	0.4%	-	-	-	-	0.6%
Net Margin %	0.0%	0.5%	0.3%	0.5%	0.4%	0.5%
FCF Margin %	234.0%	-	-	-	-	52.5%
ROE %	-0.0%	0.1%	0.0%	0.1%	0.0%	0.1%
ROA %	-0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
ROIC %	0.0%	0.0%	0.0%	0.0%	0.0%	-0.2%

Line Item	TTM	2025	2024	2023	2022	2021
	$29M	$26M	$37M	$43M	$37M	$55M
	—	—	—	—	—	$56M
Gross Margin	100.0%	---	---	---	---	101.2%
	—	—	—	—	—	$3M
	$0	—	—	—	—	-$683K
EBIT	$0	—	—	—	—	-$683K
EBITDA	$11M	—	—	—	—	$33M
Operating Margin	0.0%	---	---	---	---	-1.2%
EBITDA Margin	38.1%	---	---	---	---	59.6%
	—	$23M	$28M	$30M	$22M	$17M
	—	$26M	$37M	$43M	$37M	—
Income Tax Expense	—	$0	$0	$0	$0	$1M
	-$900K	$14M	$11M	$20M	$16M	$30M
Net Margin	3.1%	54.9%	29.1%	47.8%	42.1%	54.9%
	$0.62	$0.62	$0.47	$0.88	$0.68	$1.42
Diluted EPS	$0.62	$0.62	$0.47	$0.88	$0.68	$1.42
Weighted Avg Basic	—	23M	23M	23M	23M	—
Weighted Avg Diluted	—	23M	23M	23M	23M	—

WhiteHorse Finance, Inc. (WHF) Stock Analysis — April 2026 Rating, Price, and Forecast

Last updated: April 2026

Company Overview — What Does WhiteHorse Finance, Inc. Do?

WhiteHorse Finance, LLC is a non-diversified, closed-end management investment business development company specializing in originating senior secured loans to privately held small-cap companies across a broad range of industries. It invests in United States. It typically invests between $5 million to $25 million in companies having enterprise value of between $50 million and $350 million. WhiteHorse Finance, Inc. (WHF) is classified as a micro-cap stock in the Financials sector, specifically within the Financial Services industry. The company is led by CEO Stuart D. Aronson, headquartered in Wilmington, Florida. With a market capitalization of $158M, WHF is one of the notable companies in the Financials sector.

WhiteHorse Finance, Inc. (WHF) Stock Rating — Hold (April 2026)

As of April 2026, WhiteHorse Finance, Inc. receives a Hold rating with a composite score of 44.2/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.WHF ranks #1,337 out of 4,446 stocks in our coverage universe. Within the Financials sector, WhiteHorse Finance, Inc. ranks #404 of 891 stocks, placing it in the upper half of its Financials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

WHF Stock Price and 52-Week Range

WhiteHorse Finance, Inc. (WHF) currently trades at $7.56. The stock lost $0.07 (0.9%) in the most recent trading session. The 52-week high for WHF is $10.48, which means the stock is currently trading -27.9% from its annual peak. The 52-week low is $6.07, putting the stock 24.5% above its annual trough. Recent trading volume was 83K shares, suggesting relatively thin trading activity.

Is WHF Overvalued or Undervalued? — Valuation Analysis

WhiteHorse Finance, Inc. (WHF) carries a value factor score of 35/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The trailing price-to-earnings ratio is 12.31x, compared to the Financials sector average of 14.88x — a discount of 17%. The price-to-book ratio stands at 0.64x, versus the sector average of 1.22x. The price-to-sales ratio is 5.83x, compared to 0.90x for the average Financials stock. On an enterprise value basis, WHF trades at 3.66x EV/EBITDA, versus 3.26x for the sector.

At current multiples, WhiteHorse Finance, Inc. trades at a premium to most Financials peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.

WhiteHorse Finance, Inc. Profitability — ROE, Margins, and Quality Score

WhiteHorse Finance, Inc. (WHF) earns a quality factor score of 56/100, indicating solid business quality with consistent operational execution. The return on equity (ROE) is -0.4%, compared to the Financials sector average of 8.5%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -0.1% versus the sector average of 1.2%.

On a margin basis, WhiteHorse Finance, Inc. reports gross margins of 100.0%. The operating margin is 0.0% (sector: 21.8%). Net profit margin stands at 3.1%, versus 17.7% for the average Financials stock. Revenue growth is running at -34.3% on a trailing basis, compared to 9.4% for the sector. The overall profitability profile is adequate, though there may be room for margin expansion.

WHF Debt, Balance Sheet, and Financial Health

WhiteHorse Finance, Inc. has a debt-to-equity ratio of 125.0%, compared to the Financials sector average of 121.0%. Leverage is within a manageable range for the industry, though investors should monitor debt trends over time. The current ratio is 1.73x, suggesting adequate working capital coverage. Total debt on the balance sheet is $324M. Cash and equivalents stand at $10M.

WHF has a beta of 0.41, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for WhiteHorse Finance, Inc. is 74/100, indicating low-volatility characteristics and consistent price behavior that appeals to risk-averse investors.

WhiteHorse Finance, Inc. Revenue and Earnings History — Quarterly Trend

In TTM 2026, WhiteHorse Finance, Inc. reported revenue of $29M and earnings per share (EPS) of $0.62. Net income for the quarter was $-900,000. Gross margin was 100.0%. Operating income came in at $0.

In FY 2025, WhiteHorse Finance, Inc. reported revenue of $26M and earnings per share (EPS) of $0.62. Net income for the quarter was $14M. Revenue grew -29.9% year-over-year compared to FY 2024.

In Q3 2025, WhiteHorse Finance, Inc. reported revenue of $6M and earnings per share (EPS) of $-0.02. Net income for the quarter was $-556,000. Revenue grew -33.4% year-over-year compared to Q3 2024.

In Q2 2025, WhiteHorse Finance, Inc. reported revenue of $7M and earnings per share (EPS) of $0.10. Net income for the quarter was $2M. Revenue grew -29.4% year-over-year compared to Q2 2024.

Over the past 8 quarters, WhiteHorse Finance, Inc. has demonstrated a growth trajectory, with revenue expanding from $9M to $29M. Investors analyzing WHF stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

WHF Dividend Yield and Income Analysis

WhiteHorse Finance, Inc. (WHF) currently pays a dividend yield of 25.9%. At this yield, a $10,000 investment in WHF stock would generate approximately $$2592.00 in annual dividend income. This compares to the Financials sector average dividend yield of 2.5%, meaning WHF offers above-average income for its sector.

WHF Momentum and Technical Analysis Profile

WhiteHorse Finance, Inc. (WHF) has a momentum factor score of 34/100, signaling weak relative price performance. Stocks with low momentum scores have historically tended to continue underperforming in the near term. The investment factor score is 38/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 25/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.

WHF vs Competitors — Financials Sector Ranking and Peer Comparison

Within the Financials sector, WhiteHorse Finance, Inc. (WHF) ranks #404 out of 891 stocks based on the Blank Capital composite score. This places WHF in the upper half of all Financials stocks in our coverage universe. Key competitors and sector peers include WHITE MOUNTAINS INSURANCE GROUP LTD (WTM) with a score of 62.9/100, OPPENHEIMER HOLDINGS INC (OPY) with a score of 62.6/100, Enact Holdings, Inc. (ACT) with a score of 61.6/100, International General Insurance Holdings Ltd. (IGIC) with a score of 61.3/100, and PARKE BANCORP, INC. (PKBK) with a score of 60.4/100.

Comparing WHF against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full WHF vs S&P 500 (SPY) comparison to assess how WhiteHorse Finance, Inc. stacks up against the broader market across all factor dimensions.

WHF Next Earnings Date

No upcoming earnings date has been announced for WhiteHorse Finance, Inc. (WHF) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy WHF? — Investment Thesis Summary

WhiteHorse Finance, Inc. presents a balanced picture with arguments on both sides. The value score of 35/100 indicates premium valuation. Momentum is weak at 34/100, a headwind for near-term performance. Low volatility (stability score 74/100) reduces downside risk.

In summary, WhiteHorse Finance, Inc. (WHF) earns a Hold rating with a composite score of 44.2/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on WHF stock.

Related Resources for WHF Investors

Explore more research and tools: WHF vs S&P 500 comparison, top Financials stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare WHF head-to-head with peers: WHF vs WTM, WHF vs OPY, WHF vs ACT.

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