Market cap
$152 Mln
Revenue (TTM)
$47 Mln
P/E Ratio
9.1
P/B Ratio
0.6
Div. Yield
16 %
Key Ratios and Highlights
| Growth Score (%) | Quarterly | Annual (TTM) | |||
|---|---|---|---|---|---|
| Particulars | QoQ | YoY | 1-Year | 3-Years | 5-Years |
| Revenue | 28.74 | 43.09 | 33.62 | 0.19 | -6.79 |
| EBIT | -- | -- | -57.81 | -25.35 | -28.10 |
| Net Profit | 1,615.14 | 362.62 | 393.25 | 7.78 | -18.40 |
| EPS | 1,657.13 | 398.48 | 415.69 | 9.39 | -19.67 |
| Book Value | -- | -- | -8.94 | -7.80 | -5.94 |
| Key Ratios (%) | Average | Annual (TTM) | |||
|---|---|---|---|---|---|
| Particulars | 3-Years | 5-Years | TTM | Dec-25 | Dec-24 |
| EBIT-Margin
| 33.19 | 59.40 | 25.61 | -- | 70.03 |
| Net Margin
| -- | 36.49 | 37.23 | -- | -- |
| Return on equity
| 5.05 | 5.76 | 6.85 | 5.25 | 3.60 |
| Return on Capital
| 2.22 | 2.51 | -- | 2.34 | 1.62 |
| Return on Assets
| 2.14 | 2.43 | 2.60 | 2.22 | 1.54 |
| Debt to Equity (x)
| -- | -- | 0.00 | 1.25 | 1.23 |
Profitability
ROCE
--
--
Earning before interest and taxes / (Average net worth + Average total Debt) * 100
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
WhiteHorse Finance (WHF)
|
--
|
2.34
|
1.62
|
2.71
|
1.93
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
ROE
6.85
Lower than Peers by 2.03
Profit after tax / Average Net worth * 100
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
WhiteHorse Finance (WHF)
|
6.85
|
5.25
|
3.60
|
6.29
|
4.60
|
|
Peer Median
|
8.87
|
--
|
--
|
--
|
--
|
ROA
2.60
Lower than Peers by 1.11
Profit after tax / Average Total assets * 100
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
WhiteHorse Finance (WHF)
|
2.60
|
2.22
|
1.54
|
2.67
|
1.90
|
|
Peer Median
|
3.71
|
--
|
--
|
--
|
--
|
EBIT Margin
25.61
Lower than Peers by 44.39
Operating profit (EBIT) / Net Sales * 100
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
WhiteHorse Finance (WHF)
|
25.61
|
--
|
70.03
|
-3.64
|
83.26
|
|
Peer Median
|
70.00
|
--
|
--
|
--
|
--
|
Net Margin
37.23
Lower than Peers by 16.33
Net profit / Total Income (Net sales plus other income) * 100
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
WhiteHorse Finance (WHF)
|
37.23
|
37.84
|
63.47
|
36.71
|
36.49
|
|
Peer Median
|
53.57
|
--
|
--
|
--
|
--
|
Revenue Growth
33.62
Higher than Peers by 7.89
Year on year growth in net sales
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
WhiteHorse Finance (WHF)
|
33.62
|
1.22
|
-0.69
|
0.28
|
0.22
|
|
Peer Median
|
25.73
|
--
|
--
|
--
|
--
|
EBIT Growth
-57.81
Lower than Peers by 90.16
Year on year growth in operating profit (EBIT)
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
WhiteHorse Finance (WHF)
|
-57.81
|
--
|
691.21
|
-105.62
|
15.91
|
|
Peer Median
|
32.35
|
--
|
--
|
--
|
--
|
Net Profit Growth
393.25
Higher than Peers by 361.13
Year on year growth in profit after tax
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
WhiteHorse Finance (WHF)
|
393.25
|
32.13
|
-46.84
|
30.15
|
-47.89
|
|
Peer Median
|
32.13
|
--
|
--
|
--
|
--
|
EPS Growth
415.69
Higher than Peers by 371.45
Year on year growth in earnings per share
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
WhiteHorse Finance (WHF)
|
415.69
|
0.33
|
-0.47
|
0.30
|
-0.53
|
|
Peer Median
|
44.24
|
--
|
--
|
--
|
--
|
Book Value Growth
-0.85
Lower than Peers by 1.64
Year on year growth in book value per share
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
WhiteHorse Finance (WHF)
|
-0.85
|
--
|
--
|
--
|
--
|
|
Peer Median
|
0.79
|
--
|
--
|
--
|
--
|
Solvency
Debt to Equity
--
--
Total debt / Net worth
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
WhiteHorse Finance (WHF)
|
--
|
1.25
|
1.23
|
1.22
|
1.41
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Short term debt to equity ratio
0.34
--
(Short term borrowings / Net worth)
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
WhiteHorse Finance (WHF)
|
0.34
|
--
|
0.14
|
1.22
|
0.09
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Current Ratio
0.30
Lower than Peers by 1.88
Current Assets / Current Liabilities and Provisions
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
WhiteHorse Finance (WHF)
|
0.30
|
1.14
|
1.98
|
0.75
|
286.76
|
|
Peer Median
|
2.19
|
--
|
--
|
--
|
--
|
Quick Ratio
0.30
Lower than Peers by 1.85
(Current Assets - Inventory) / Current Liabilities and Provisions
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
WhiteHorse Finance (WHF)
|
0.30
|
--
|
--
|
0.75
|
286.76
|
|
Peer Median
|
2.15
|
--
|
--
|
--
|
--
|
Interest Coverage
1.87
Lower than Peers by 0.72
Earning before interest and taxes (EBIT) / Interest Expenses
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
WhiteHorse Finance (WHF)
|
1.87
|
--
|
0.43
|
-0.07
|
1.64
|
|
Peer Median
|
2.59
|
--
|
--
|
--
|
--
|
Operating Efficiency
Debtors to sales
12.20
Lower than Peers by 4.61
Debtors outstanding / Net Sales * 100
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
WhiteHorse Finance (WHF)
|
12.20
|
15.23
|
33.59
|
15.27
|
18.70
|
|
Peer Median
|
16.81
|
--
|
--
|
--
|
--
|
Asset Turnover
0.07
Lower than Peers by 0.01
Sales / Average Total Assets
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
WhiteHorse Finance (WHF)
|
0.07
|
0.06
|
0.02
|
0.07
|
0.05
|
|
Peer Median
|
0.08
|
--
|
--
|
--
|
--
|
Receivable days
--
--
Average Debtors / Sales * 365
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
WhiteHorse Finance (WHF)
|
--
|
55.49
|
152.07
|
54.49
|
65.88
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Inventory Days
--
--
Average Inventory / Sales * 365
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
WhiteHorse Finance (WHF)
|
--
|
--
|
0.00
|
0.00
|
0.00
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Payable days
--
--
Average Creditors / Cost of goods sold * 365
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
WhiteHorse Finance (WHF)
|
--
|
255.91
|
193.48
|
161.54
|
217.26
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Cash Conversion Cycle
--
--
Receivable Days + Inventory Days - Payable Days
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
WhiteHorse Finance (WHF)
|
--
|
--
|
-41.41
|
-107.05
|
-151.38
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Valuation
Price / Earnings
9.10
Lower than Peers by 3.98
Current share price divided by earning per share in the last twelve months
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
WhiteHorse Finance (WHF)
|
9.10
|
11.23
|
20.73
|
14.01
|
19.34
|
|
Peer Median
|
13.08
|
--
|
--
|
--
|
--
|
Price / Book Value
0.60
Lower than Peers by 0.25
Current share price divided by book value per share in the latest financial year
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
WhiteHorse Finance (WHF)
|
0.60
|
0.62
|
0.79
|
0.90
|
0.91
|
|
Peer Median
|
0.85
|
--
|
--
|
--
|
--
|
Dividend Yield
16.01
Higher than Peers by 5.40
Dividend per share in the past twelve months divided by current share price
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
WhiteHorse Finance (WHF)
|
16.01
|
--
|
--
|
--
|
--
|
|
Peer Median
|
10.61
|
--
|
--
|
--
|
--
|
EV/EBITDA
6.45
--
Enterprise Value (Current Market Capitalisation + Total Debt - Cash & Equivalents) / Earnings before interest, taxes, depreciation and taxes (EBITDA)
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
WhiteHorse Finance (WHF)
|
6.45
|
12.16
|
26.26
|
30.96
|
6.80
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Market Cap
152
Higher than Peers by 85
Current Share price multiplied by latest total number of shares outstanding
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
WhiteHorse Finance (WHF)
|
152
|
--
|
--
|
--
|
--
|
|
Peer Median
|
68
|
--
|
--
|
--
|
--
|