Share Price & News
How has WhiteHorse Finance's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: WHF is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: WHF's weekly volatility has decreased from 11% to 3% over the past year.
7 Day Return
US Capital Markets
1 Year Return
US Capital Markets
Return vs Industry: WHF underperformed the US Capital Markets industry which returned 38% over the past year.
Return vs Market: WHF underperformed the US Market which returned 38.5% over the past year.
Long-Term Price Volatility Vs. Market
How volatile is WhiteHorse Finance's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Is WhiteHorse Finance undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: WHF ($14.68) is trading below our estimate of fair value ($22.56)
Significantly Below Fair Value: WHF is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: WHF is good value based on its PE Ratio (9.4x) compared to the US Capital Markets industry average (23.5x).
PE vs Market: WHF is good value based on its PE Ratio (9.4x) compared to the US market (21.3x).
Price to Earnings Growth Ratio
PEG Ratio: WHF's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: WHF is good value based on its PB Ratio (1x) compared to the US Capital Markets industry average (12.8x).
How is WhiteHorse Finance forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: WHF's earnings are forecast to decline over the next 3 years (-12.7% per year).
Earnings vs Market: WHF's earnings are forecast to decline over the next 3 years (-12.7% per year).
High Growth Earnings: WHF's earnings are forecast to decline over the next 3 years.
Revenue vs Market: WHF's revenue (4.3% per year) is forecast to grow slower than the US market (10.4% per year).
High Growth Revenue: WHF's revenue (4.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: WHF's Return on Equity is forecast to be low in 3 years time (8.2%).
How has WhiteHorse Finance performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: WHF has a large one-off gain of $7.0M impacting its September 30 2020 financial results.
Growing Profit Margin: WHF's current net profit margins (51.8%) are higher than last year (40.8%).
Past Earnings Growth Analysis
Earnings Trend: WHF's earnings have grown by 17.2% per year over the past 5 years.
Accelerating Growth: WHF's earnings growth over the past year (19.2%) exceeds its 5-year average (17.2% per year).
Earnings vs Industry: WHF earnings growth over the past year (19.2%) exceeded the Capital Markets industry 10.1%.
Return on Equity
High ROE: WHF's Return on Equity (10.3%) is considered low.
How is WhiteHorse Finance's financial position?
Financial Position Analysis
Short Term Liabilities: WHF's short term assets ($30.5M) exceed its short term liabilities ($19.3M).
Long Term Liabilities: WHF's short term assets ($30.5M) do not cover its long term liabilities ($292.0M).
Debt to Equity History and Analysis
Debt Level: WHF's debt to equity ratio (92.8%) is considered high.
Reducing Debt: WHF's debt to equity ratio has increased from 78.3% to 92.8% over the past 5 years.
Debt Coverage: WHF's operating cash flow is negative, therefore debt is not well covered.
Interest Coverage: WHF's interest payments on its debt are not well covered by EBIT (2.9x coverage).
What is WhiteHorse Finance current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: WHF's dividend (10.52%) is higher than the bottom 25% of dividend payers in the US market (1.34%).
High Dividend: WHF's dividend (10.52%) is in the top 25% of dividend payers in the US market (3.76%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, WHF has been paying a dividend for less than 10 years.
Growing Dividend: WHF's dividend payments have increased, but the company has only paid a dividend for 8 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (90.5%), WHF's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: WHF's dividends in 3 years are not forecast to be well covered by earnings (113% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Stuart Aronson (57 yo)
Mr. Stuart D. Aronson serves as the Group Head of U.S. Direct Lending at H.I.G. WhiteHorse Capital, LLC since February 2016. In this position, he is responsible for building the debt solutions offered by t...
|CEO & Director||4.75yrs||no data||0.18% |
|CFO & Principal Accounting Officer||1.5yrs||no data||0.044% |
|Investor Relations Contact||6.08yrs||no data||no data|
|Chief Compliance Officer||6.25yrs||no data||0.049% |
|Secretary||no data||no data||no data|
Experienced Management: WHF's management team is seasoned and experienced (5.4 years average tenure).
|CEO & Director||4.75yrs||no data||0.18% |
|Chairman of the Board||9.08yrs||no data||1.54% |
|Independent Director||5.08yrs||US$88.50k||0.018% |
|Independent Director||9.08yrs||US$93.50k||no data|
|Director||9.08yrs||no data||0.076% |
|Independent Director||3.75yrs||US$88.50k||0.037% |
|Independent Director||5.5yrs||US$88.50k||0.018% |
Experienced Board: WHF's board of directors are considered experienced (5.5 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
WhiteHorse Finance, Inc.'s company bio, employee growth, exchange listings and data sources
- Name: WhiteHorse Finance, Inc.
- Ticker: WHF
- Exchange: NasdaqGS
- Founded: 2011
- Industry: Asset Management and Custody Banks
- Sector: Diversified Financials
- Market Cap: US$301.616m
- Shares outstanding: 20.55m
- Website: https://www.whitehorsefinance.com
- WhiteHorse Finance, Inc.
- 1450 Brickell Avenue
- 31st floor
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|WHF||NasdaqGS (Nasdaq Global Select)||Yes||Common Stock||US||USD||Dec 2012|
|M9X||DB (Deutsche Boerse AG)||Yes||Common Stock||DE||EUR||Dec 2012|
WhiteHorse Finance, LLC is a business development company.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/02/27 00:05|
|End of Day Share Price||2021/02/26 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.