WHF
WhiteHorse Finance
NASDAQ: WHF · FINANCIAL SERVICES · ASSET MANAGEMENT
$7.60
+0.40% today
Updated 2026-04-30
Market cap
$170.09M
P/E ratio
12.34
P/S ratio
2.34x
EPS (TTM)
$0.62
Dividend yield
18.50%
52W range
$6 – $8
Volume
0.1M
WhiteHorse Finance (WHF) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $40.71M | $22.39M | $23.33M | $639000.00 | $42.42M | $46.98M | $72.90M | $34.24M | $36.02M | $35.35M | $43.29M | $55.60M | $17.09M | $37.89M |
| Revenue growth (YoY) | — | -45.0% | +4.2% | -97.3% | +6538.8% | +10.7% | +55.2% | -53.0% | +5.2% | -1.8% | +22.5% | +28.4% | -69.3% | +121.6% |
| Cost of revenue | $406000.00 | $-15.23M | $-14.22M | $14.02M | $8.19M | $9.81M | $11.60M | $32.08M | $20.77M | $22.18M | $21.94M | $29.91M | $27.90M | $18.07M |
| Gross profit | $40.31M | $22.39M | $37.55M | $-13.38M | $34.23M | $37.17M | $61.30M | $34.24M | $36.02M | $35.35M | $21.35M | $25.68M | $17.09M | $19.82M |
| Gross margin | 99.0% | 100.0% | 161.0% | -2094.5% | 80.7% | 79.1% | 84.1% | 100.0% | 100.0% | 100.0% | 49.3% | 46.2% | 100.0% | 52.3% |
| R&D | — | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — |
| SG&A | $749000.00 | $3.35M | $4.23M | $3.47M | $2.90M | $2.72M | $3.33M | $2.98M | $3.59M | $4.25M | $4.65M | $4.30M | $5.12M | $5.37M |
| Operating income | $42.20M | $19.31M | $17.00M | $20.75M | $27.01M | $26.21M | $58.24M | $31.65M | $32.43M | $31.10M | $16.71M | $21.38M | $11.97M | $38.23M |
| Operating margin | 103.7% | 86.3% | 72.9% | 3248.0% | 63.7% | 55.8% | 79.9% | 92.4% | 90.0% | 88.0% | 38.6% | 38.4% | 70.0% | 100.9% |
| EBITDA | $43.33M | $24.65M | $25.36M | $30.73M | $27.01M | $26.21M | $58.24M | $31.65M | $32.43M | $38.70M | $16.71M | $21.38M | $11.97M | $37.48M |
| EBITDA margin | 106.4% | 110.1% | 108.7% | 4808.5% | 63.7% | 55.8% | 79.9% | 92.4% | 90.0% | 109.5% | 38.6% | 38.4% | 70.0% | 98.9% |
| EBIT | $42.20M | $19.31M | $22.75M | $20.75M | $17.48M | $13.98M | $18.62M | $31.65M | $32.43M | $31.10M | $36.05M | $-2.02M | — | — |
| Interest expense | $1.13M | $5.34M | $5.82M | $9.97M | $8.19M | $9.81M | $11.60M | $13.47M | $13.13M | $16.59M | $21.94M | $29.91M | $27.90M | $23.14M |
| Income tax | — | — | $3.21M | $1000.00 | $39.52M | $44.26M | $942000.00 | $813000.00 | $742000.00 | $1.00M | $1.02M | $965000.00 | $1.12M | — |
| Effective tax rate | 0.0% | 0.0% | 14.1% | -0.0% | 55.8% | 56.2% | 1.6% | 2.6% | 2.3% | 3.2% | 6.1% | 4.5% | 9.4% | 0.0% |
| Net income | $39.56M | $19.03M | $19.54M | $-2.83M | $31.33M | $34.45M | $57.30M | $30.84M | $31.68M | $30.09M | $15.68M | $20.41M | $10.85M | $14.34M |
| Net income growth (YoY) | — | -51.9% | +2.7% | -114.5% | +1208.2% | +10.0% | +66.3% | -46.2% | +2.7% | -5.0% | -47.9% | +30.2% | -46.8% | +32.1% |
| Profit margin | 97.2% | 85.0% | 83.8% | -442.4% | 73.9% | 73.3% | 78.6% | 90.1% | 88.0% | 85.1% | 36.2% | 36.7% | 63.5% | 37.8% |