WhiteHorse FinanceWHF +1.38%51 EV-to-FCF is 4.04 as of Jun. 26, 2026, which is 36% below its 10-year median of 6.29. GuruFocus rates WHF with a GF Score™ of 51/100 and a GF Value™ of $8.65 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 938 Asset Management companies, WhiteHorse Finance ranks better than 86.57% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, WhiteHorse Finance's Enterprise Value is $454.32 Mil.
WhiteHorse Finance's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was $112.53 Mil. Therefore, WhiteHorse Finance's EV-to-FCF for today is 4.04.
The historical rank and industry rank for WhiteHorse Finance's EV-to-FCF or its related term are showing as below:
WHF'
s EV-to-FCF Range Over the Past 10 Years
Min: -203.15 Med: 6.29 Max: 605.67
Current: 4.04
During the past 13 years, the highest EV-to-FCF of WhiteHorse Finance was 605.67. The lowest was -203.15. And the median was 6.29.
WHF's EV-to-FCF is ranked better than 86.57% of 938
companies
in the Asset Management industry
Industry Median: 14.545
vs WHF: 4.04
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
WhiteHorse Finance's PE Ratio (TTM) for today is calculated as:
WhiteHorse Finance's share price for today is $6.61.
WhiteHorse Finance's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $0.410.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
WhiteHorse Finance EV-to-FCF Related Terms
WhiteHorse Finance EV-to-FCF Historical Data
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The historical data trend for WhiteHorse Finance's EV-to-FCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Asset Management subindustry, WhiteHorse Finance's EV-to-FCF, along with its competitors' market caps and EV-to-FCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
WhiteHorse Finance EV-to-FCF vs Asset Management Industry
For the Asset Management industry and Financial Services sector, WhiteHorse Finance's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where WhiteHorse Finance's EV-to-FCF falls into.
WhiteHorse Finance's current Enterprise Value is $454.32 Mil.
WhiteHorse Finance's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $112.53 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
WhiteHorse Finance (WHF) has a EV-to-FCF of 4.04 as of Jun. 26, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on WhiteHorse Finance and its competitors. This is 36% below median its historical median of 6.29. According to the industry distribution chart, WhiteHorse Finance ranks #126 out of 938 companies in the Asset Management industry, placing it in the top 13.4%.
Is WhiteHorse Finance's EV-to-FCF too high?
WhiteHorse Finance's current EV-to-FCF of 4.04 is 36% below median its 10-year median of 6.29. The Asset Management industry median EV-to-FCF is 14.55. WhiteHorse Finance's value of 4.04 is 72.2% below this industry median. Based on the distribution chart, WhiteHorse Finance ranks #126 out of 938 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, WhiteHorse Finance has a GF Score™ of 51/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does WhiteHorse Finance's EV-to-FCF compare to HEQ and EVG?
According to the Asset Management industry distribution chart, WhiteHorse Finance ranks #126 out of 938 companies for EV-to-FCF. This places WhiteHorse Finance in the top 13% of its industry — outperforming the majority of peers. The industry median EV-to-FCF is 14.55. WhiteHorse Finance's value of 4.04 is 72.2% below this benchmark. While the company's 10-year median is 6.29 vs. the industry median of 14.55, WhiteHorse Finance has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for an Asset Management company?
The median EV-to-FCF among Asset Management companies is 14.55, based on 938 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. WhiteHorse Finance's current EV-to-FCF of 4.04 is 72.2% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on WhiteHorse Finance and its competitors. For the Asset Management industry, the median EV-to-FCF is 14.55 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. WhiteHorse Finance's current EV-to-FCF is 4.04, which is 36% below median its own 10-year median of 6.29. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is WhiteHorse Finance stock overvalued right now?
Based on GuruFocus' analysis, WhiteHorse Finance (WHF) is currently considered Modestly Undervalued. The stock's GF Value™ is $8.65, compared to a current price of $6.61 — trading 23.6% below its estimated fair value. The current EV-to-FCF is 4.04, which is 36% below median its 10-year median of 6.29 and 72.2% below the Asset Management industry median of 14.55. WhiteHorse Finance's overall GF Score™ is 51/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For WhiteHorse Finance (WHF), the current EV-to-FCF is 4.04 as of Jun. 26, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is WhiteHorse Finance (WHF) Overvalued in 2026?
Based on GuruFocus' analysis, WhiteHorse Finance stock appears to be undervalued.
The current stock price of $6.61 is trading 23.6% below its estimated GF Value™ of $8.65.
GuruFocus considers WhiteHorse Finance to be Modestly Undervalued.
Key valuation signals for WHF:
EV-to-FCF: 4.04 (36% below median its 10-year median of 6.29)
GF Value™: $8.65 vs. price of $6.61 (23.6% below fair value)
Industry Position: 72.2% below the Asset Management median (#126 of 938)
No single metric tells the full story. See the WHF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
WhiteHorse Finance Inc is a non-diversified, closed-end management investment company. It makes debt investments in privately held; small-cap companies located in United States. Its investment objective is to generate risk-adjusted returns by originating and investing in senior secured loans, including first lien and second lien facilities, to performing lower middle market companies across a range of industries.
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