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WhiteHorse FinanceFRA:M9X -0.33%18 Net Margin % is 89.67% as of Jun. 2026, which is 4% above its 10-year median of 86.55. GuruFocus rates FRA:M9X with a GF Score™ of 18/100 and a GF Value™ of €11.12 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 1,570 Asset Management companies, WhiteHorse Finance ranks worse than 55.1% on this metric.
WhiteHorse Finance (FRA:M9X) Net Margin % Explanation
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
WhiteHorse Finance Net Margin % Related Terms
WhiteHorse Finance Net Margin % Historical Data
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The historical data trend for WhiteHorse Finance's Net Margin % 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 Net Margin %, along with its competitors' market caps and Net Margin % 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 Net Margin % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, WhiteHorse Finance's Net Margin % distribution charts can be found below:
* The bar in red indicates where WhiteHorse Finance's Net Margin % falls into.
* 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 (FRA:M9X) has a Net Margin % of 89.67% as of Jun. 2026. Net margin is the ratio of total net income to net sales. View historical data on WhiteHorse Finance and its competitors. This is near median its historical median of 86.55. Over the past decade, WhiteHorse Finance's Net Margin % has ranged from 63.47 to 93.47. According to the industry distribution chart, WhiteHorse Finance ranks #865 out of 1570 companies in the Asset Management industry, placing it in the top 55.1%.
Is WhiteHorse Finance's Net Margin % too high?
WhiteHorse Finance's current Net Margin % of 89.67% is near median its 10-year median of 86.55. Over the past 10 years, this metric has ranged from a low of 63.47 to a high of 93.47. The Asset Management industry median Net Margin % is 85.85. WhiteHorse Finance's value of 89.67% is 4.4% above this industry median. Based on the distribution chart, WhiteHorse Finance ranks #865 out of 1570 companies in the Asset Management industry, which is below the industry midpoint. Overall, WhiteHorse Finance has a GF Score™ of 18/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does WhiteHorse Finance's Net Margin % compare to GRX and MPA?
According to the Asset Management industry distribution chart, WhiteHorse Finance ranks #865 out of 1570 companies for Net Margin %. This places WhiteHorse Finance in the lower half of its industry. The industry median Net Margin % is 85.85. WhiteHorse Finance's value of 89.67% is 4.4% above this benchmark. Historically, WhiteHorse Finance's own Net Margin % has ranged from 63.47 to 93.47 over the past decade. While the company's 10-year median is 86.55 vs. the industry median of 85.85, WhiteHorse Finance has consistently been above 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 Net Margin % for an Asset Management company?
The median Net Margin % among Asset Management companies is 85.85, based on 1,570 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. WhiteHorse Finance's current Net Margin % of 89.67% is 4.4% above 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 Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on WhiteHorse Finance and its competitors. For the Asset Management industry, the median Net Margin % is 85.85 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. WhiteHorse Finance's current Net Margin % is 89.67%, which is near median its own 10-year median of 86.55. 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 (FRA:M9X) is currently considered Possible Value Trap. The stock's GF Value™ is €11.12, compared to a current price of €6.02 — trading 45.9% below its estimated fair value. The current Net Margin % is 89.67%, which is near median its 10-year median of 86.55 and 4.4% above the Asset Management industry median of 85.85. WhiteHorse Finance's overall GF Score™ is 18/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For WhiteHorse Finance (FRA:M9X), the current Net Margin % is 89.67% as of Jun. 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 (FRA:M9X) Overvalued in 2026?
Based on GuruFocus' analysis, WhiteHorse Finance stock appears to be undervalued.
The current stock price of €6.02 is trading 45.9% below its estimated GF Value™ of €11.12.
GuruFocus considers WhiteHorse Finance to be Possible Value Trap.
Key valuation signals for FRA:M9X:
Net Margin %: 89.67% (near median its 10-year median of 86.55)
GF Value™: €11.12 vs. price of €6.02 (45.9% below fair value)
Industry Position: 4.4% above the Asset Management median (#865 of 1570)
No single metric tells the full story. See the FRA:M9X 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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