WhiteHorse Finance (WHF) Incentive Fees (2013 - 2026)
WhiteHorse Finance (WHF) reported Incentive Fees of $959,000 for Q3 2026, down 37.1% from $1.53 million a year earlier and down 15.4% from the prior quarter.
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Analysis
WhiteHorse Finance (WHF) Incentive Fees (2013 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, WhiteHorse Finance's Incentive Fees came in at $5.05 million, down 26.5% year-over-year; for FY2025, it was $6.48 million, down 30.4% from FY2024.
- Incentive Fees has a five-year compound annual growth rate of -3.2% (FY2020 to FY2025).
- By year, Incentive Fees came in at $9.31 million in FY2024 (-12.8%), $10.68 million in FY2023 (+51.3%), $7.06 million in FY2022 (-6.2%) and $7.52 million in FY2021 (-1.2%).
- The Q3 2026 figure ranks as the lowest quarterly Incentive Fees since Q4 2021.
- Year over year, Incentive Fees has now declined in each of the last ten quarters, with an average decline of 29.1% over the last eight quarters.
- The high point for year-over-year Incentive Fees in five years was Q4 2022 (growth of 252.6%); the low point was Q4 2021 (a decline of 61.7%).
- Per Business Quant data, the three quarters before Q3 2026 came in at $1.13 million (Q2 2026), $1.36 million (Q1 2026) and $1.6 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Incentive Fees (Qtr) |
|---|---|---|---|---|---|
| 1 | Royalty Pharma | 39.80 Bn | 40.13 Bn | - | - |
| 2 | Rocket Companies | 38.90 Bn | 27.72 Bn | - | - |
| 3 | Orix | 38.66 Bn | 9.30 Bn | 13.83 Bn | - |
| 4 | Federal National Mortgage Association Fannie Mae | 26.46 Bn | -16,107.65 Bn | - | - |
| 5 | Synchrony Financial | 22.47 Bn | -45.15 Bn | - | - |
| 6 | Affirm Holdings | 22.07 Bn | 15.11 Bn | - | - |
| 7 | Royal Gold | 21.71 Bn | 20.92 Bn | 402.46 Mn | - |
| 8 | Ares Capital | 13.84 Bn | 11.59 Bn | - | 82.00 Mn |
| 9 | Annaly Capital Management | 13.83 Bn | 4.86 Bn | - | - |
| 10 | WhiteHorse Finance | 177.40 Mn | 143.00 Mn | - | 959,000.00 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 959,000.00 |
| Jun 30, 2026 | 1.13 Mn |
| Mar 31, 2026 | 1.36 Mn |
| Dec 31, 2025 | 1.60 Mn |
| Sep 30, 2025 | 1.53 Mn |
| Jun 30, 2025 | 1.64 Mn |
| Mar 31, 2025 | 1.71 Mn |
| Dec 31, 2024 | 1.99 Mn |
| Sep 30, 2024 | 2.29 Mn |
| Jun 30, 2024 | 2.32 Mn |
| Mar 31, 2024 | 2.70 Mn |
| Dec 31, 2023 | 2.65 Mn |
| Sep 30, 2023 | 2.70 Mn |
| Jun 30, 2023 | 2.65 Mn |
| Mar 31, 2023 | 2.68 Mn |
| Dec 31, 2022 | 2.77 Mn |
| Sep 30, 2022 | 1.03 Mn |
| Jun 30, 2022 | 1.84 Mn |
| Mar 31, 2022 | 1.43 Mn |
| Dec 31, 2021 | 785,000.00 |
API Access
WhiteHorse Finance Incentive Fees API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=incentive-fees&ticker=WHF&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "incentive-fees", "ticker": "WHF", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=incentive-fees&ticker=WHF&period=max&api_key=YOUR_API_KEY");
const data = await res.json();