WhiteHorse Finance

WHF

Market cap $139M

WhiteHorse Finance (WHF) continues to face portfolio contraction, persistent net realized losses, and elevated non-accruals, justifying a maintained Hold rating. WHF trades at a historically deep 44.55% discount to NAV, but this reflects ongoing portfolio and earnings challenges rather than a buying opportunity. Dividend coverage remains razor-thin; the 15.7% yield is at risk of a cut as net investment income barely matches distributions and non-accruals rise.

WhiteHorse Finance NASDAQ: WHF reported lower first-quarter earnings and a decline in net asset value as previously identified credit issues weighed on results, while management said share repurchases helped offset some of the impact through NAV accretion.

WhiteHorse Finance (WHF) Q1 2026 Earnings Call Transcript

WhiteHorse Finance (WHF) came out with quarterly earnings of $0.26 per share, missing the Zacks Consensus Estimate of $0.28 per share. This compares to earnings of $0.29 per share a year ago.

NEW YORK, May 7, 2026 /PRNewswire/ -- WhiteHorse Finance, Inc. ("WhiteHorse Finance" or the "Company") (Nasdaq: WHF) today announced its financial results for the first quarter ended March 31, 2026. In addition, the Company's board of directors has declared a distribution of $0.25 per share with respect to the quarter ended March 31, 2026.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

NEW YORK, April 23, 2026 /PRNewswire/ -- WhiteHorse Finance, Inc. ("WhiteHorse Finance" or the "Company") (Nasdaq: WHF) today announced that it will release its first quarter financial results for the period ended March 31, 2026 on Thursday, May 7, 2026. The Company will discuss its financial results on a conference call that day at 2:00 p.m.

WhiteHorse Finance trades at a 43% discount to NAV per share, reflecting deep market skepticism around the direction of its investment portfolio despite a covered 14.88% dividend yield. WHF's fiscal 2025 fourth quarter net investment income of $0.287 per share covered the reset dividend at 115%, with sequential improvement in coverage and nonaccruals. Share repurchases boosted NAV per share by $0.184 during the quarter, reversing a multi-year downward trend and supporting NAV stability.

WhiteHorse Finance is upgraded to hold as portfolio NAV shows modest improvement and capital allocation efficiency increases. WHF trades at a 44.79% discount to NAV, reflecting persistent investor skepticism and ongoing earnings pressure despite recent operational improvements. Dividend yield stands at 16.4% after a payout reduction, improving coverage but signaling continued caution for income-focused investors.

WhiteHorse Finance (WHF) Q4 2025 Earnings Call Transcript