WhiteHorse Finance, Inc (M9X)
XBER 
Summary
M9X Chart
WhiteHorse Finance (WHF) Q2 2025 Earnings Call Transcript
WhiteHorse Finance (NASDAQ:WHF ) Q2 2025 Earnings Conference Call August 7, 2025 2:00 PM ET Company Participants Joyson C. Thomas - CFO & Principal Accounting Officer Stuart D.
WhiteHorse Finance (WHF) Q2 Earnings and Revenues Miss Estimates
WhiteHorse Finance (WHF) came out with quarterly earnings of $0.28 per share, missing the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.4 per share a year ago.
WhiteHorse Finance: Don't Get Fooled By The 17% Dividend Yield
WHF's portfolio quality continues to deteriorate, with non-accruals rising to 8.8% and earnings declining, justifying my ongoing sell rating. Despite a 17% dividend yield and a 25.6% discount to NAV, I see these as reflections of risk and weak fundamentals, not buying opportunities. Net investment income fails to cover the dividend, and reliance on spillover income is unsustainable; a dividend cut appears likely and necessary.
WhiteHorse Finance, Inc Dividends
 WHF In 2 months Estimated | Quarterly | $0.39 Per Share |
| WHF 2 weeks ago Paid | Quarterly | $0.39 Per Share |
| WHF 3 months ago Paid | Quarterly | $0.39 Per Share |
| WHF 6 months ago Paid | Quarterly | $0.39 Per Share |
| WHF 9 months ago Paid | Quarterly | $0.39 Per Share |
| WHF 11 months ago Paid | Other | $0.24 Per Share |
WhiteHorse Finance, Inc Earnings
| 6 Nov 2025 (In 4 weeks) Date | | 0.29 Cons. EPS | - EPS |
| 6 Nov 2025 (In 4 weeks) Date | | 0.3 Cons. EPS | - EPS |
| 5 Nov 2025 (In 3 weeks) Date | | - Cons. EPS | - EPS |
| 14 Aug 2025 Date | | 0.31 Cons. EPS | - EPS |
| 7 Aug 2025 Date | | 0.31 Cons. EPS | - EPS |
| WHF In 2 months Estimated | Quarterly | $0.39 Per Share |
| WHF 2 weeks ago Paid | Quarterly | $0.39 Per Share |
| WHF 3 months ago Paid | Quarterly | $0.39 Per Share |
| WHF 6 months ago Paid | Quarterly | $0.39 Per Share |
| WHF 9 months ago Paid | Quarterly | $0.39 Per Share |
| WHF 11 months ago Paid | Other | $0.24 Per Share |
| 6 Nov 2025 (In 4 weeks) Date | | 0.29 Cons. EPS | - EPS |
| 6 Nov 2025 (In 4 weeks) Date | | 0.3 Cons. EPS | - EPS |
| 5 Nov 2025 (In 3 weeks) Date | | - Cons. EPS | - EPS |
| 14 Aug 2025 Date | | 0.31 Cons. EPS | - EPS |
| 7 Aug 2025 Date | | 0.31 Cons. EPS | - EPS |
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WhiteHorse Finance, Inc Profile
| Asset Management Industry | Financial Services Sector | Stuart D. Aronson CEO | XBER Exchange | US96524V1061 ISIN |
| US Country | - Employees | 19 Sep 2025 Last Dividend | - Last Split | 5 Dec 2012 IPO Date |
Overview
WhiteHorse Finance, Inc. operates as a business development company (BDC) and functions within the niche of non-diversified, closed-end management specializing in financial services. The firm is distinctively focused on the creation of senior secured loans, targeting the lower middle market and sectors ripe for growth capital. With a strategic preference for investments within the United States, WhiteHorse Finance positions itself as a key player in supporting the financial growth and operational expansion of companies situated in this geographic locale. The company’s investment portfolio ranges typically between $5 million to $25 million, catering to businesses that possess an enterprise value in the range of $50 million to $350 million. This scope of investment demonstrates WhiteHorse Finance’s commitment to fostering growth and operational excellence in companies that occupy a significant, yet underserved segment of the market.
Products and Services
- Senior Secured Loans
- Investment in Lower Middle Market
- Growth Capital Industries
WhiteHorse Finance specializes in originating senior secured loans, which are often considered a safer investment compared to unsecured or junior loans due to their priority in a borrow's capital structure. These loans are designed to provide companies with the capital necessary for growth, restructuring, or refinancing, ensuring that investors like WhiteHorse maintain a secure position.
Focusing on the lower middle market, WhiteHorse Finance seeks out companies that are often ignored by larger financial institutions. These companies have enterprise values between $50 million and $350 million. Investments in this segment allow WhiteHorse to contribute to the growth and development of enterprises that are on the cusp of transitioning into more significant market players.
Identifying and investing in industries with high growth potential, WhiteHorse Finance applies its resources and expertise to sectors where strategic capital infusion can significantly enhance an enterprise's market stance. This approach allows for the nurturing of innovations and scaling operations within promising industries, thereby fostering broader economic development and generating substantial returns on investment.
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