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Upturn AI SWOT - About
WHF 
WhiteHorse Finance (WHF)
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Upturn Advisory Summary
03/06/2025: WHF (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
AI Based Fundamental Rating
Moderate Performance
These Stocks/ETFs, based on Upturn Advisory, typically align with the market average, offering steady but unremarkable returns.
Analysis of Past Performance
Type Stock | Historic Profit -7.16% | Avg. Invested days 54 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 03/06/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 209.72M USD | Price to earnings Ratio 18.72 | 1Y Target Price 10.5 |
Price to earnings Ratio 18.72 | 1Y Target Price 10.5 | ||
Volume (30-day avg) 70870 | Beta 1.09 | 52 Weeks Range 8.58 - 11.47 | Updated Date 04/7/2025 |
52 Weeks Range 8.58 - 11.47 | Updated Date 04/7/2025 | ||
Dividends yield (FY) 17.07% | Basic EPS (TTM) 0.47 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 11.69% | Operating Margin (TTM) 70.17% |
Management Effectiveness
Return on Assets (TTM) 5.88% | Return on Equity (TTM) 3.6% |
Valuation
Trailing PE 18.72 | Forward PE 6.59 | Enterprise Value 549880768 | Price to Sales(TTM) 2.26 |
Enterprise Value 549880768 | Price to Sales(TTM) 2.26 | ||
Enterprise Value to Revenue 32.92 | Enterprise Value to EBITDA 6.45 | Shares Outstanding 23243100 | Shares Floating - |
Shares Outstanding 23243100 | Shares Floating - | ||
Percent Insiders 4.38 | Percent Institutions 33.6 |
Analyst Ratings
Rating 2.8 | Target Price 11.17 | Buy - | Strong Buy - |
Buy - | Strong Buy - | ||
Hold 4 | Sell 1 | Strong Sell - | |
Strong Sell - |
Upturn AI SWOT
WhiteHorse Finance
Company Overview
History and Background
WhiteHorse Finance, Inc. is a business development company (BDC) founded in 2011. It focuses on originating and investing in primarily first lien senior secured loans to privately held companies in the United States. Since its inception, it has grown its investment portfolio and expanded its operational capabilities within the direct lending space.
Core Business Areas
- Direct Lending: WhiteHorse Finance provides senior secured loans, including first lien and unitranche debt, to middle-market companies. These loans are typically used for acquisitions, recapitalizations, growth capital, and refinancings.
- Equity Investments: Alongside its debt investments, WhiteHorse Finance may also make opportunistic equity investments, providing potential upside.
Leadership and Structure
The leadership team is headed by the CEO, who oversees the company's investment strategy and operations. The organizational structure includes departments for origination, underwriting, portfolio management, and finance, with a board of directors providing oversight.
Top Products and Market Share
Key Offerings
- First Lien Senior Secured Loans: These loans are the core of WhiteHorse Finance's business, offering a higher level of security due to their priority in repayment. Competitors include other BDCs like Ares Capital (ARCC) and Prospect Capital (PSEC), as well as direct lending arms of private equity firms. Precise market share data for individual BDCs is difficult to obtain due to the fragmented nature of the middle-market lending landscape.
- Unitranche Loans: Unitranche loans combine senior and subordinated debt into a single loan, offering borrowers flexibility. Competitors are similar to those for first lien loans. Similar to above, market share data for individual BDCs is difficult to obtain.
Market Dynamics
Industry Overview
The BDC industry is driven by the demand for capital from middle-market companies. This sector is influenced by economic conditions, interest rates, and regulatory changes. The industry has seen increased competition, driven by the entrance of more players and the growing popularity of private credit.
Positioning
WhiteHorse Finance positions itself as a provider of flexible capital solutions to middle-market companies, focusing on senior secured debt. Its competitive advantages include its experience in direct lending and its ability to provide customized financing solutions.
Total Addressable Market (TAM)
The TAM for private credit to middle-market companies is estimated to be in the hundreds of billions of dollars. WhiteHorse Finance is positioned to capture a portion of this TAM by focusing on specific industries and transaction types. The BDC has a relatively small market share due to the large fragmented market. It attempts to compete on relationship management, and speed of funding.
Upturn SWOT Analysis
Strengths
- Experienced Management Team
- Focus on Senior Secured Debt
- Disciplined Underwriting Process
- Established Relationships with Private Equity Sponsors
- Attractive Dividend Yield
Weaknesses
- Small Market Capitalization
- Reliance on External Financing
- Sensitivity to Economic Downturns
- Exposure to Illiquid Investments
- High Operating Costs
Opportunities
- Growing Demand for Private Credit
- Expansion into New Industries
- Strategic Acquisitions
- Increase in Middle Market M&A Activity
- Development of New Financial Products
Threats
- Increased Competition
- Rising Interest Rates
- Economic Recession
- Regulatory Changes
- Deterioration in Credit Quality
Competitors and Market Share
Key Competitors
- ARCC
- PSEC
- OXSQ
- TPVG
- CSWC
Competitive Landscape
WhiteHorse Finance faces competition from other BDCs and direct lending funds. Its advantages include its experienced management team and its focus on senior secured debt. Its disadvantages include its smaller market capitalization compared to larger competitors.
Major Acquisitions
Growth Trajectory and Initiatives
Historical Growth: WhiteHorse Finance's historical growth has been driven by its ability to originate and invest in senior secured loans. Growth has been influenced by market conditions and competition.
Future Projections: Future growth projections depend on factors such as the demand for private credit, the company's ability to originate new loans, and its ability to manage its portfolio effectively. Analyst estimates will vary.
Recent Initiatives: Recent initiatives may include expanding into new industries, developing new financial products, and strategic acquisitions.
Summary
WhiteHorse Finance is a BDC focused on lending to middle-market companies. The company's strength lies in its focus on senior secured debt, but its smaller size compared to competitors is a challenge. Economic downturns and increasing competition pose risks, while growing demand for private credit presents opportunities. Overall, the company has moderate risk, a history of attractive dividends and a small foothold in the middle-market lending space.
Similar Companies
ARCC
Ares Capital Corporation
ARCC
Ares Capital Corporation
CSWC
Capital Southwest Corporation
CSWC
Capital Southwest Corporation
OXSQ
Oxford Square Capital Corp
OXSQ
Oxford Square Capital Corp
PSEC
Prospect Capital Corporation
PSEC
Prospect Capital Corporation
TPVG
Triplepoint Venture Growth BDC Corp
TPVG
Triplepoint Venture Growth BDC Corp
Sources and Disclaimers
Data Sources:
- Company Filings (SEC)
- Company Website
- Analyst Reports
- Industry Reports
Disclaimers:
The information provided is for informational purposes only and should not be considered financial advice. Market share data are estimates and may not be precise. Past performance is not indicative of future results.
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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