WhiteHorse Finance (WHF) Incentive Fees Payable (2017 - 2026)
WhiteHorse Finance (WHF) recorded Incentive Fees Payable of $15.77 million in Q3 2026, down 14.6% from $18.46 million a year earlier and down 0.2% from the prior quarter.
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Analysis
WhiteHorse Finance (WHF) Incentive Fees Payable (2017 - 2026) Analysis & Trends
At the end of FY2025, WhiteHorse Finance reported Incentive Fees Payable of $19.16 million, up 7.3% from FY2024.
- Annual Incentive Fees Payable has increased for three straight years, with a five-year compound annual growth rate of 25.6% (FY2020 to FY2025).
- Across earlier years, Incentive Fees Payable came in at $17.85 million in FY2024 (+70.5%), $10.47 million in FY2023 (+86.4%), $5.62 million in FY2022 (-29.4%) and $7.96 million in FY2021 (+30.1%).
- The Q3 2026 figure is the lowest quarterly Incentive Fees Payable since Q2 2024.
- On a year-over-year basis, Incentive Fees Payable rose in six of the last eight quarters, with growth averaging 15.8%.
- Peak year-over-year performance for Incentive Fees Payable in the last five years was growth of 186.0% in Q2 2024, against a decline of 41.5% in Q3 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at $15.8 million (Q2 2026), $18.01 million (Q1 2026) and $19.16 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Incentive Fees Payable (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 | - | 166.00 Mn |
| 9 | Annaly Capital Management | 13.83 Bn | 4.86 Bn | - | - |
| 10 | WhiteHorse Finance | 177.40 Mn | 143.00 Mn | - | 15.77 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 15.77 Mn |
| Jun 30, 2026 | 15.80 Mn |
| Mar 31, 2026 | 18.01 Mn |
| Dec 31, 2025 | 19.16 Mn |
| Sep 30, 2025 | 18.46 Mn |
| Jun 30, 2025 | 17.74 Mn |
| Mar 31, 2025 | 17.98 Mn |
| Dec 31, 2024 | 17.85 Mn |
| Sep 30, 2024 | 15.85 Mn |
| Jun 30, 2024 | 14.63 Mn |
| Mar 31, 2024 | 13.17 Mn |
| Dec 31, 2023 | 10.47 Mn |
| Sep 30, 2023 | 7.82 Mn |
| Jun 30, 2023 | 5.12 Mn |
| Mar 31, 2023 | 7.60 Mn |
| Dec 31, 2022 | 5.62 Mn |
| Sep 30, 2022 | 4.34 Mn |
| Jun 30, 2022 | 5.18 Mn |
| Mar 31, 2022 | 5.45 Mn |
| Dec 31, 2021 | 7.96 Mn |
API Access
WhiteHorse Finance Incentive Fees Payable 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-payable&ticker=WHF&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "incentive-fees-payable", "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-payable&ticker=WHF&period=max&api_key=YOUR_API_KEY");
const data = await res.json();