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Upturn AI SWOT - About
WHF 
WhiteHorse Finance (WHF)
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Upturn Advisory Summary
08/14/2025: WHF (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
4 Analysts rated it
Very few follow this stock; limited insights, higher-risk early investing.
1 Year Target Price $9.33
1 Year Target Price $9.33
| 0 | Strong Buy |
| 0 | Buy |
| 3 | Hold |
| 1 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -11.2% | Avg. Invested days 60 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 08/14/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 197.10M USD | Price to earnings Ratio 53 | 1Y Target Price 9.33 |
Price to earnings Ratio 53 | 1Y Target Price 9.33 | ||
Volume (30-day avg) 4 | Beta 0.88 | 52 Weeks Range 8.09 - 10.65 | Updated Date 08/15/2025 |
52 Weeks Range 8.09 - 10.65 | Updated Date 08/15/2025 | ||
Dividends yield (FY) 18.22% | Basic EPS (TTM) 0.16 |
Earnings Date
Report Date 2025-08-07 | When - | Estimate 0.3079 | Actual 0.1 |
Profitability
Profit Margin 4.36% | Operating Margin (TTM) 68.42% |
Management Effectiveness
Return on Assets (TTM) 5.2% | Return on Equity (TTM) 1.21% |
Valuation
Trailing PE 53 | Forward PE 7.31 | Enterprise Value 549745408 | Price to Sales(TTM) 2.42 |
Enterprise Value 549745408 | Price to Sales(TTM) 2.42 | ||
Enterprise Value to Revenue 58.9 | Enterprise Value to EBITDA 6.45 | Shares Outstanding 23243100 | Shares Floating - |
Shares Outstanding 23243100 | Shares Floating - | ||
Percent Insiders 4.48 | Percent Institutions 32.64 |
Upturn AI SWOT
WhiteHorse Finance
Company Overview
History and Background
WhiteHorse Finance (WHF) was founded in 2011 and is a specialty finance company focused on providing senior secured loans to middle-market companies. It operates as a business development company (BDC).
Core Business Areas
- Direct Lending: Origination, structuring, and investment in senior secured loans to middle-market companies.
Leadership and Structure
Stuart Aronson is the current CEO and Chairman. The company is structured as a BDC, managed externally by H.I.G. WhiteHorse Advisers, LLC.
Top Products and Market Share
Key Offerings
- Senior Secured Loans: Provides first lien and second lien senior secured loans, predominantly to US middle market companies. Market share data is difficult to determine exactly, but WhiteHorse competes with other BDCs and private credit funds for deals. Competitors include Ares Capital (ARCC), Main Street Capital (MAIN), and Golub Capital BDC (GBDC). The revenue generated from this product is the primary source of WhiteHorse Finance's income.
Market Dynamics
Industry Overview
The BDC industry is competitive and sensitive to interest rate changes and economic conditions. Increased regulation and volatility can affect the industry negatively.
Positioning
WhiteHorse Finance focuses on smaller middle-market deals, offering a more tailored financing approach but potentially facing higher credit risk compared to firms dealing with larger companies.
Total Addressable Market (TAM)
The total addressable market for middle-market lending is substantial, estimated to be in the hundreds of billions of dollars. WhiteHorse Finance's TAM is defined by the specific types and sizes of companies it targets. Its positioning is focused within this overall TAM.
Upturn SWOT Analysis
Strengths
- Experienced management team
- Focus on senior secured loans
- Strong relationships with private equity sponsors
- High dividend yield
Weaknesses
- External management structure
- Reliance on external financing
- Higher operating expenses compared to internally managed BDCs
- Sensitivity to interest rate fluctuations
Opportunities
- Increased demand for private credit
- Expansion into new industry verticals
- Strategic acquisitions of other BDCs
- Capitalizing on dislocation in public credit markets
Threats
- Economic downturn impacting borrower credit quality
- Increased competition from other BDCs and private credit funds
- Rising interest rates increasing borrowing costs
- Regulatory changes impacting BDC operations
Competitors and Market Share
Key Competitors
- ARCC
- MAIN
- GBDC
Competitive Landscape
WhiteHorse Finance faces intense competition. ARCC is much larger, while MAIN is internally managed and considered a high-quality BDC. WhiteHorse must differentiate through deal selection and portfolio management.
Growth Trajectory and Initiatives
Historical Growth: WhiteHorse Finance's growth has been tied to its ability to deploy capital effectively and maintain credit quality. Historical values are needed to provide accurate data.
Future Projections: Analyst projections are not readily available and depend on economic conditions, interest rates, and the company's ability to originate new deals.
Recent Initiatives: Focus on strategic partnerships and deployment of capital in select sectors.
Summary
WhiteHorse Finance is a BDC focused on middle-market lending. Its high dividend yield is attractive but comes with risks related to external management and economic sensitivity. The company needs to focus on managing credit quality and navigating the competitive landscape. Its success hinges on effective capital deployment and maintaining a stable net asset value (NAV).
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company filings
- Third-party financial data providers
- Industry reports
Disclaimers:
This analysis is for informational purposes only and should not be considered financial advice. The data is based on publicly available information and assumptions, which may change over time.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About WhiteHorse Finance
Exchange NASDAQ | Headquaters Miami, FL, United States | ||
IPO Launch date 2012-12-05 | CEO & Director Mr. Stuart D. Aronson | ||
Sector Financial Services | Industry Asset Management | Full time employees - | |
Full time employees - | |||
WhiteHorse Finance, Inc. is business development company, non-diversified, closed end management company specializing in originating senior secured loans, lower middle market, growth capital industries. It invests in broadline retail, office services and supplies, building products, health care services, health care supplies, research and consulting services, application software, home furnishings, specialized consumer services, data processing and outsourced services, leisure facilities, cable, and satellite. It prefers to invest in United States. It typically invests between $5 million to $25 million in companies having enterprise value of between $50 million and $350 million.
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