WhiteHorse Finance Inc

WhiteHorse Finance Inc has a market price of $7.31, with a market capitalization of $157.98 million. The company's price-to-book ratio is 0.51, indicating that the market value is trading below the book value of its equity. The price-to-earnings ratio is 20.15, suggesting that investors are paying a moderate premium for each dollar of earnings. The enterprise value to EBITDA ratio is 54.24, which is significantly higher than the typical range for the industry, indicating a high valuation relative to its earnings before interest, taxes, depreciation, and amortization.

In terms of profitability, WhiteHorse Finance Inc has a return on equity of 2.51% and a return on assets of 1.11%. These figures are below the industry median for closed-end funds, which typically have higher returns due to their investment strategies and leverage. The company's operating income of $9.29 million and net income of $7.84 million reflect a relatively stable performance, but the low return metrics suggest that the company is not generating strong returns for its shareholders.

The company's revenue is concentrated in a single business segment, as it operates as a closed-end fund focused on providing financing to small- and medium-sized businesses. There is no significant geographic diversification, as the company's operations are primarily within the United States. This concentration increases the risk associated with economic downturns or regulatory changes that could impact the small business lending sector.

Looking at the growth trajectory, WhiteHorse Finance Inc has shown a stable performance in terms of revenue and net income. However, the company's future growth is constrained by the nature of its business as a closed-end fund, which does not typically experience rapid revenue expansion. The company's operating cash flow of $43.12 million indicates a strong ability to generate cash, which can be used to pay dividends or reinvest in the business.

The risk assessment for WhiteHorse Finance Inc indicates a medium liquidity risk and a low dilution risk. The company's debt-to-equity ratio is 1.15, which is relatively high and suggests that the company is using leverage to finance its operations. The key flag of negative net cash after subtracting total debt highlights the company's reliance on debt financing and the potential for increased financial risk if interest rates rise or if the company's credit rating is downgraded.

Recent events and filings show that the company has a mean price target of $7.67, with a median price target of $7.50. The high price target is $9.00, while the low is $6.50. The mean recommendation from analysts is 3.20, indicating a neutral stance with four "hold" recommendations and no "buy" or "strong buy" ratings. These analyst estimates suggest that the market has a cautious outlook on the company's future performance.

Revenue $15.9M, −15,6% YoY; Operating income −18,1% YoY.

• ▍Revenue $15.9M, −15,6% YoY
• ▍Operating income −18,1% YoY
• ▍Net income −116,1% YoY
• ▍Net margin -4.3%

Revenue $17.3M, −17,4% YoY; Operating income −17,2% YoY.

• ▍Revenue $17.3M, −17,4% YoY
• ▍Operating income −17,2% YoY
• ▍Net income +114,8% YoY
• ▍Net margin 48.3%

Revenue $18.8M, −19,8% YoY; Operating income −29,4% YoY.

• ▍Revenue $18.8M, −19,8% YoY
• ▍Operating income −29,4% YoY
• ▍Net income −71,3% YoY
• ▍Net margin 11.9%

Revenue $18.8M; Operating income $6.8M.

• ▍Revenue $18.8M
• ▍Operating income $6.8M
• ▍Net margin 22.7%

Revenue $21.0M; Operating income $8.0M.

• ▍Revenue $21.0M
• ▍Operating income $8.0M
• ▍Net margin 18.6%

Revenue $22.9M; Operating income $9.2M.

• ▍Revenue $22.9M
• ▍Operating income $9.2M
• ▍Net margin -30.0%

Revenue $23.5M; Operating income $9.3M.

• ▍Revenue $23.5M
• ▍Operating income $9.3M
• ▍Net margin 33.4%

Revenue $72.7M, −21,7% YoY; Operating income −29,9% YoY.

• ▍Revenue $72.7M, −21,7% YoY
• ▍Operating income −29,9% YoY
• ▍Net income +32,1% YoY
• ▍Net margin 19.7%

Revenue $92.8M; Operating income $37.2M.

• ▍Revenue $92.8M
• ▍Operating income $37.2M
• ▍Net margin 11.7%