WhiteHorse Finance (WHF) Net Margin (2021 - 2026)
WhiteHorse Finance's (WHF) quarterly Net Margin came in at 39.26% in Q2 2026, up 5893.0% year-over-year from 0.66% in Q2 2025, and up 211.94% quarter-over-quarter from 35.07% in Q1 2026.
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Analysis
WhiteHorse Finance (WHF) Net Margin (2021 - 2026) Analysis & Trends
WhiteHorse Finance (WHF) has reported Net Margin for 6 consecutive years, with 39.26% the latest figure, recorded in Q2 2026.
- On a quarterly basis, Net Margin rose 5893.0% year-over-year to 39.26% in Q2 2026; TTM through Jun 2026 was 3.89%, a 2229.0% increase from a year earlier, with the FY2025 full-year figure at 11.2%, up 596.0% from the prior year.
- Net Margin was 39.26% for Q2 2026 at WhiteHorse Finance, up from 35.07% in the prior quarter.
- Over five years, Net Margin peaked at 39.26% in Q2 2026 and troughed at 59.04% in Q3 2024.
- A 5-year average of 8.9% and a median of 8.52% in 2025 frame the typical range for Net Margin.
- Across the five-year window, Net Margin tumbled 5214 bps in 2024 and soared 5893 bps in 2026, its largest moves.
- Over 5 years, Net Margin stood at 28.44% in 2022, then surged by 48 bps to 14.75% in 2023, then advanced by 25 bps to 11.08% in 2024, then surged by 284 bps to 20.38% in 2025, then jumped by 93 bps to 39.26% in 2026.
- The last three Net Margin figures came in at 39.26% (Q2 2026), 35.07% (Q1 2026), and 20.38% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Ares Capital | 14.09 Bn | 13.71 Bn | - | 18.88% |
| 2 | Blackstone Secured Lending Fund | 5.70 Bn | 5.43 Bn | - | 22.69% |
| 3 | Blue Owl Capital | 5.49 Bn | 5.26 Bn | - | 13.25% |
| 4 | Main Street Capital | 5.24 Bn | 5.18 Bn | - | 113.52% |
| 5 | Blue Owl Technology Finance | 4.97 Bn | 4.76 Bn | - | 8.83% |
| 6 | Hercules Capital | 4.62 Bn | 4.57 Bn | - | 39.56% |
| 7 | FS KKR Capital | 3.35 Bn | 3.25 Bn | - | - |
| 8 | Golub Capital Bdc | 3.32 Bn | 3.27 Bn | - | -2.12% |
| 9 | PennantPark Floating Rate Capital | 2.48 Bn | -128.99 Mn | - | -29.16% |
| 10 | WhiteHorse Finance | 153.37 Mn | 144.91 Mn | - | 39.26% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 39.26% |
| Mar 31, 2026 | -35.07% |
| Dec 31, 2025 | 20.38% |
| Sep 30, 2025 | -34.78% |
| Jun 30, 2025 | -19.67% |
| Mar 31, 2025 | -9.66% |
| Dec 31, 2024 | -11.08% |
| Sep 30, 2024 | -59.04% |
| Jun 30, 2024 | 4.10% |
| Mar 31, 2024 | -4.20% |
| Dec 31, 2023 | -14.75% |
| Sep 30, 2023 | -6.90% |
| Jun 30, 2023 | -12.51% |
| Mar 31, 2023 | 0.88% |
| Dec 31, 2022 | -28.44% |
| Sep 30, 2022 | -7.38% |
| Jun 30, 2022 | 12.90% |
| Mar 31, 2022 | 5.78% |
| Dec 31, 2021 | -9.95% |
| Sep 30, 2021 | 25.50% |