Last 48 quarters of trend data · Financial Services · Asset Management
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
EV/EBITDA has compressed 22.5% YoY to 25.5x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 10.56 | — | 4.83 | — | 22.52 | 8.04 | 14.24 | — | 9.02 | 11.92 | 20.50 | 6.79 | 18.87 |
| — | — | -66.1% | — | +149.6% | -32.6% | -30.6% | — | -52.2% | +21.9% | — | -58.4% | +83.8% | |
| P/S Ratio | 3.74 | 3.67 | 2.71 | 5.97 | 5.05 | 4.80 | 4.68 | 43.77 | 4.28 | 4.87 | 5.85 | 5.20 | 5.95 |
| — | -23.5% | -42.1% | -86.4% | +17.8% | -1.3% | -20.0% | +742.2% | -28.0% | +10.9% | -45.8% | -13.6% | +7.0% | |
| P/B Ratio | 0.58 | 0.66 | 0.62 | 0.61 | 0.74 | 0.80 | 0.79 | 0.91 | 0.91 | 0.92 | 0.90 | 0.92 | 0.92 |
| — | -17.8% | -21.2% | -33.1% | -19.1% | -13.2% | -12.9% | -1.6% | -0.5% | +4.2% | -1.1% | +22.4% | +4.3% | |
| P/FCF | 7.34 | — | 41.99 | 0.65 | 2.34 | — | 0.79 | 3.15 | 27.04 | 14.59 | 0.91 | 3.05 | — |
| — | — | +5192.8% | -79.3% | -91.4% | — | -12.6% | +3.3% | — | +117.8% | -84.5% | -82.9% | — | |
| EV / EBITDA | 11.64 | 25.47 | 13.30 | — | 56.99 | 32.84 | 33.92 | — | 19.47 | 26.67 | 43.61 | 29.63 | 43.12 |
| — | -22.5% | -60.8% | — | +192.7% | +23.2% | -22.2% | — | -54.9% | +17.7% | — | -29.6% | +80.4% | |
| EV / EBIT | 11.41 | 25.47 | 13.30 | — | 56.99 | 32.84 | 33.92 | — | 19.47 | 26.67 | 43.61 | 29.63 | 43.12 |
| — | -22.5% | -60.8% | — | +192.7% | +23.2% | -22.2% | — | -54.9% | +17.7% | — | -29.6% | +80.4% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
WhiteHorse Finance, Inc.'s operating margin was 38.9% in Q1 2026, down 18.7 pp QoQ and up 1.5 pp YoY. The trailing four-quarter average of 28.8% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 38.0% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 52.3% | 64.9% | 66.1% | 14.1% | 38.8% | 47.0% | 45.9% | -351.0% | 57.1% | 50.5% | 38.6% | 47.1% | 41.5% |
| — | +38.0% | +44.1% | +104.0% | -31.9% | -6.9% | +18.9% | -846.0% | +37.6% | -7.5% | +534.1% | -0.9% | -35.2% | |
| Operating Margin | 100.9% | 38.9% | 57.6% | -5.5% | 24.3% | 37.4% | 34.7% | -427.3% | 48.7% | 42.3% | 30.4% | 40.4% | 33.0% |
| — | +4.0% | +66.0% | +98.7% | -50.2% | -11.5% | +14.1% | -1156.7% | +47.8% | -9.6% | +371.0% | +7.4% | -39.9% | |
| Net Margin | 37.8% | -6.2% | 56.4% | -8.3% | 22.4% | 36.5% | 32.5% | -446.5% | 47.1% | 40.3% | 28.1% | 39.2% | 31.0% |
| — | -116.9% | +73.6% | +98.2% | -52.4% | -9.4% | +15.8% | -1238.6% | +52.1% | -11.0% | +261.6% | +9.4% | -42.1% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.3% | -0.3% | 3.2% | -0.2% | 0.8% | 1.5% | 1.3% | -2.3% | 2.5% | 1.9% | 1.1% | 1.7% | 1.2% |
| — | -117.9% | +138.5% | +90.8% | -67.7% | -20.6% | +24.8% | -230.1% | +111.3% | -16.5% | +397.3% | +55.3% | -44.0% | |
| ROA | 2.2% | -0.1% | 1.4% | -0.1% | 0.3% | 0.6% | 0.6% | -1.0% | 1.1% | 0.8% | 0.5% | 0.7% | 0.5% |
| — | -117.9% | +135.4% | +91.3% | -69.4% | -22.8% | +23.7% | -234.2% | +118.2% | -14.4% | +403.3% | +53.1% | -44.3% | |
| ROIC | 4.7% | 0.6% | 1.1% | -0.0% | 0.3% | 0.5% | 0.5% | -0.7% | 0.9% | 0.7% | 0.4% | 0.6% | 0.4% |
| — | +10.0% | +125.8% | +93.9% | -67.7% | -23.4% | +24.0% | -226.5% | +114.5% | -12.5% | +612.3% | +50.2% | -42.1% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
WhiteHorse Finance, Inc.'s Debt/EBITDA ratio is 75.2x, up from 37.8x last quarter — elevated, raising questions about debt serviceability. Debt/Equity has risen for 3 consecutive quarters, indicating increasing financial leverage that investors should watch closely.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.25 | 1.30 | 1.25 | 1.22 | 1.32 | 1.28 | 1.23 | 1.19 | 1.15 | 1.24 | 1.22 | 1.24 | 1.31 |
| — | +1.1% | +1.0% | +2.6% | +15.2% | +3.2% | +1.1% | -3.8% | -12.1% | -3.1% | -7.9% | -1.8% | +7.2% | |
| Debt / EBITDA | 8.64 | 75.25 | 37.81 | — | 149.09 | 82.66 | 84.70 | — | 44.28 | 62.34 | 104.08 | 68.95 | 102.81 |
| — | -9.0% | -55.4% | — | +236.7% | +32.6% | -18.6% | — | -56.9% | +14.1% | — | -35.4% | +82.8% | |
| Current Ratio | 1.14 | — | 1.14 | 0.26 | 0.17 | 0.37 | 0.45 | 0.80 | 1.38 | 1.21 | 1.27 | 1.54 | 0.85 |
| — | — | +154.8% | -67.7% | -87.7% | -69.8% | -64.7% | -48.2% | +62.9% | +116.3% | +84.9% | +2.1% | -27.2% | |
| Quick Ratio | 1.14 | — | 1.14 | 0.26 | 0.17 | 0.37 | 0.45 | 0.80 | 1.38 | 1.21 | 1.27 | 1.54 | 0.85 |
| — | — | +154.8% | -67.7% | -87.7% | -69.8% | -64.7% | -48.2% | +62.9% | +116.3% | +84.9% | +2.1% | -27.2% | |
| Interest Coverage | 1.62 | 0.86 | 1.70 | -0.06 | 0.40 | 0.71 | 0.64 | -0.95 | 1.13 | 0.85 | 0.50 | 0.76 | 0.56 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying WHF stock.
WhiteHorse Finance, Inc.'s current P/E is 10.6x. The average P/E over the last 2 quarters is 13.7x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
WhiteHorse Finance, Inc.'s current operating margin is 100.9%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking WhiteHorse Finance, Inc.'s business trajectory between earnings reports.