WhiteHorse Finance (WHF) Operating Expenses (2021 - 2026)
WhiteHorse Finance (WHF) reported Operating Expenses of $10.3 million for Q1 2026, down 13.07% year-over-year from $11.9 million in Q1 2025, and down 4.18% quarter-over-quarter from $10.8 million in Q4 2025.
WhiteHorse Finance (WHF) Operating Expenses (2021 - 2026) Analysis & Trends
WhiteHorse Finance (WHF) has 6 years of Operating Expenses data on file, last reported at $10.3 million in Q1 2026.
- Operating Expenses for Q1 2026 came in at $10.3 million, down 13.07% year-over-year; the trailing twelve-month figure through Mar 2026 was $44.6 million (down 14.23% YoY), and the FY2025 annual result was $46.1 million, down 15.35% from the prior year.
- Operating Expenses retreated to $10.3 million in Q1 2026 per WHF's latest filing, from $10.8 million in the prior quarter.
- Over five years, Operating Expenses peaked at $15.2 million in Q1 2023 and troughed at $10.3 million in Q1 2026.
- A 5-year average of $12.9 million and a median of $12.8 million in 2024 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2023 and 2025: Operating Expenses soared 34.95% in 2023, then retreated 17.5% in 2025.
- A 5-year view of Operating Expenses shows it stood at $14.4 million in 2022, then climbed by 2.13% to $14.7 million in 2023, then declined by 13.4% to $12.8 million in 2024, then fell by 15.76% to $10.8 million in 2025, then fell by 4.18% to $10.3 million in 2026.
- Business Quant data shows WHF's Operating Expenses at $10.3 million in Q1 2026, $10.8 million in Q4 2025, and $11.4 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 163.18 Bn | 153.56 Bn | - | 3.88 Bn |
| 2 | Blackstone | 96.85 Bn | 95.80 Bn | - | 2.26 Bn |
| 3 | Kkr | 86.45 Bn | 133.96 Bn | - | 3.87 Bn |
| 4 | Apollo Global Management | 82.30 Bn | 101.04 Bn | 5.04 Bn | 4.68 Bn |
| 5 | State Street | 46.95 Bn | 21.27 Bn | - | 2.81 Bn |
| 6 | Ameriprise Financial | 43.65 Bn | 43.52 Bn | 4.57 Bn | 3.67 Bn |
| 7 | Northern Trust | 31.92 Bn | 31.92 Bn | - | 1.51 Bn |
| 8 | Raymond James Financial | 30.62 Bn | 19.37 Bn | - | 3.12 Bn |
| 9 | Ares Management | 29.04 Bn | 32.41 Bn | - | 1.17 Bn |
| 10 | WhiteHorse Finance | 142.99 Mn | 131.20 Mn | - | 10.30 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 10.30 Mn |
| Dec 31, 2025 | 10.75 Mn |
| Sep 30, 2025 | 11.40 Mn |
| Jun 30, 2025 | 12.09 Mn |
| Mar 31, 2025 | 11.85 Mn |
| Dec 31, 2024 | 12.76 Mn |
| Sep 30, 2024 | 13.40 Mn |
| Jun 30, 2024 | 13.92 Mn |
| Mar 31, 2024 | 14.37 Mn |
| Dec 31, 2023 | 14.74 Mn |
| Sep 30, 2023 | 14.88 Mn |
| Jun 30, 2023 | 14.75 Mn |
| Mar 31, 2023 | 15.21 Mn |
| Dec 31, 2022 | 14.43 Mn |
| Sep 30, 2022 | 11.60 Mn |
| Jun 30, 2022 | 11.95 Mn |
| Mar 31, 2022 | 11.27 Mn |
| Dec 31, 2021 | 10.84 Mn |
| Sep 30, 2021 | 10.49 Mn |