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Upturn AI SWOT - About
WHF 
WhiteHorse Finance (WHF)
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Upturn Advisory Summary
06/30/2025: 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
Limited analyst coverage, niche firm, research info may be scarce.
1 Year Target Price $9.83
1 Year Target Price $9.83
| 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 06/30/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 202.68M USD | Price to earnings Ratio 22.36 | 1Y Target Price 9.83 |
Price to earnings Ratio 22.36 | 1Y Target Price 9.83 | ||
Volume (30-day avg) 4 | Beta 0.87 | 52 Weeks Range 8.09 - 10.74 | Updated Date 06/30/2025 |
52 Weeks Range 8.09 - 10.74 | Updated Date 06/30/2025 | ||
Dividends yield (FY) 17.62% | Basic EPS (TTM) 0.39 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 10.62% | Operating Margin (TTM) 69.85% |
Management Effectiveness
Return on Assets (TTM) 5.39% | Return on Equity (TTM) 3.07% |
Valuation
Trailing PE 22.36 | Forward PE 7.03 | Enterprise Value 552833600 | Price to Sales(TTM) 2.35 |
Enterprise Value 552833600 | Price to Sales(TTM) 2.35 | ||
Enterprise Value to Revenue 37.32 | Enterprise Value to EBITDA 6.45 | Shares Outstanding 23243100 | Shares Floating - |
Shares Outstanding 23243100 | Shares Floating - | ||
Percent Insiders 4.48 | Percent Institutions 33.23 |
Analyst Ratings
Rating 2 | Target Price 9.83 | Buy - | Strong Buy - |
Buy - | Strong Buy - | ||
Hold 3 | Sell 1 | Strong Sell - | |
Strong Sell - |
Upturn AI SWOT
WhiteHorse Finance
Company Overview
History and Background
WhiteHorse Finance was founded in 2011 and is externally managed by H.I.G. Capital. It operates as a business development company (BDC), focusing on providing debt financing to middle-market companies.
Core Business Areas
- Direct Lending: Provides first lien and second lien debt financing, and occasionally makes equity investments, to middle-market companies across various industries.
Leadership and Structure
The company is externally managed by H.I.G. WhiteHorse Advisers, LLC, an affiliate of H.I.G. Capital. The key executives are typically associated with H.I.G. Capital. The structure is typical of a BDC.
Top Products and Market Share
Key Offerings
- First Lien Debt: Provides senior secured loans to middle-market companies. Market share data is difficult to ascertain specifically for WhiteHorse but is present in the BDC direct lending space. Competitors include Ares Capital, Main Street Capital, and Golub Capital.
- Second Lien Debt: Offers subordinated debt financing, which typically carries higher interest rates but also higher risk. Market share data is difficult to ascertain specifically for WhiteHorse but is present in the BDC direct lending space. Competitors include Ares Capital, Main Street Capital, and Golub Capital.
Market Dynamics
Industry Overview
The BDC industry provides financing to middle-market companies, which often have limited access to traditional capital markets. The industry is sensitive to interest rate changes and economic conditions.
Positioning
WhiteHorse Finance focuses on the lower end of the middle market, providing financing typically ranging from $5 million to $50 million. Competitive advantages include its affiliation with H.I.G. Capital and expertise in credit analysis.
Total Addressable Market (TAM)
The TAM for private credit is estimated to be in the trillions of dollars. WhiteHorse Finance is positioned to capture a small portion of this TAM by focusing on direct lending to middle-market companies.
Upturn SWOT Analysis
Strengths
- Experienced management team through H.I.G. Capital
- Focus on niche middle-market lending
- Diversified portfolio across industries
- Strong credit underwriting process
Weaknesses
- External management structure leading to potential conflicts of interest
- Dependence on H.I.G. Capital's deal flow
- Smaller market capitalization compared to larger BDCs
- Sensitivity to interest rate fluctuations
Opportunities
- Growing demand for private credit from middle-market companies
- Potential to expand into new sectors or geographies
- Increasing regulatory constraints on traditional banks
- Strategic acquisitions to expand AUM
Threats
- Economic downturn impacting portfolio company performance
- Increased competition from other BDCs and private credit funds
- Rising interest rates increasing borrowing costs
- Regulatory changes affecting BDC operations
Competitors and Market Share
Key Competitors
- ARCC
- MAIN
- GBDC
- TSSL
Competitive Landscape
WhiteHorse Finance competes with larger BDCs like Ares Capital (ARCC) and Main Street Capital (MAIN). Its smaller size can be a disadvantage, but its affiliation with H.I.G. Capital provides access to deal flow and expertise.
Growth Trajectory and Initiatives
Historical Growth: WhiteHorse Finance has grown its asset base and investment portfolio since its inception. Historical growth is not available without current financial data.
Future Projections: Future projections are based on analyst estimates which are not available. These projections often depend on macroeconomic forecasts and the company's ability to deploy capital effectively.
Recent Initiatives: Highlight recent strategic initiatives undertaken by WhiteHorse Finance such as increasing investment in particular sectors or optimizing its capital structure. Recent initiatives depend on current financial data.
Summary
WhiteHorse Finance is a smaller BDC with a focus on direct lending to middle-market companies. Its strength lies in its experienced management team and diversified portfolio, but its external management structure and smaller market capitalization pose challenges. Future growth depends on the company's ability to navigate economic conditions and maintain credit quality. It should watch out for interest rates and competition from other BDCs.
Peer Comparison
Sources and Disclaimers
Data Sources:
- SEC Filings
- Company Website
- Industry Reports
Disclaimers:
This analysis is for informational purposes only and does not constitute investment advice. Market share data is estimated and may not be precise.
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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