Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
WhiteHorse FinanceWHF +2.91%42 Return-on-Tangible-Asset is 6.88% as of Jun. 2026, which is 62% above its 10-year median of 4.26. GuruFocus rates WHF with a GF Score™ of 42/100 and a GF Value™ of $13.03 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 1,632 Asset Management companies, WhiteHorse Finance ranks worse than 59.38% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. WhiteHorse Finance's annualizedNet Income for the quarter that ended in Jun. 2026 was $41.64 Mil. WhiteHorse Finance's average total tangible assets for the quarter that ended in Jun. 2026 was $605.06 Mil. Therefore, WhiteHorse Finance's annualized Return-on-Tangible-Asset for the quarter that ended in Jun. 2026 was 6.88%.
The historical rank and industry rank for WhiteHorse Finance's Return-on-Tangible-Asset or its related term are showing as below:
WHF'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 1.54 Med: 4.26 Max: 11.46
Current: 2.81
During the past 13 years, WhiteHorse Finance's highest Return-on-Tangible-Asset was 11.46%. The lowest was 1.54%. And the median was 4.26%.
WHF's Return-on-Tangible-Asset is ranked worse than 59.38% of 1632
companies
in the Asset Management industry
Industry Median: 4.54
vs WHF: 2.81
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
WhiteHorse Finance Return-on-Tangible-Asset Related Terms
WhiteHorse Finance Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for WhiteHorse Finance's Return-on-Tangible-Asset 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.
WHF vs GRX, MPA, EVG: Return-on-Tangible-Asset Comparison
For the Asset Management subindustry, WhiteHorse Finance's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Asset Management Industry
For the Asset Management industry and Financial Services sector, WhiteHorse Finance's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where WhiteHorse Finance's Return-on-Tangible-Asset 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Jun. 2026) net income data.
What does a Return-on-Tangible-Asset of 6.88% mean?
WhiteHorse Finance (WHF) has a Return-on-Tangible-Asset of 6.88% as of Jun. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on WhiteHorse Finance and its competitors. This is 62% above median its historical median of 4.26. Over the past decade, WhiteHorse Finance's Return-on-Tangible-Asset has ranged from 1.54 to 11.46. According to the industry distribution chart, WhiteHorse Finance ranks #969 out of 1632 companies in the Asset Management industry, placing it in the top 59.4%.
Is WhiteHorse Finance's Return-on-Tangible-Asset too high?
WhiteHorse Finance's current Return-on-Tangible-Asset of 6.88% is 62% above median its 10-year median of 4.26. Over the past 10 years, this metric has ranged from a low of 1.54 to a high of 11.46. The Asset Management industry median Return-on-Tangible-Asset is 4.54. WhiteHorse Finance's value of 6.88% is 51.5% above this industry median. Based on the distribution chart, WhiteHorse Finance ranks #969 out of 1632 companies in the Asset Management industry, which is below the industry midpoint. Overall, WhiteHorse Finance has a GF Score™ of 42/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does WhiteHorse Finance's Return-on-Tangible-Asset compare to GRX and MPA?
According to the Asset Management industry distribution chart, WhiteHorse Finance ranks #969 out of 1632 companies for Return-on-Tangible-Asset. This places WhiteHorse Finance in the lower half of its industry. The industry median Return-on-Tangible-Asset is 4.54. WhiteHorse Finance's value of 6.88% is 51.5% above this benchmark. Historically, WhiteHorse Finance's own Return-on-Tangible-Asset has ranged from 1.54 to 11.46 over the past decade. While the company's 10-year median is 4.26 vs. the industry median of 4.54, 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 Return-on-Tangible-Asset for an Asset Management company?
The median Return-on-Tangible-Asset among Asset Management companies is 4.54, based on 1,632 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. WhiteHorse Finance's current Return-on-Tangible-Asset of 6.88% is 51.5% 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on WhiteHorse Finance and its competitors. For the Asset Management industry, the median Return-on-Tangible-Asset is 4.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. WhiteHorse Finance's current Return-on-Tangible-Asset is 6.88%, which is 62% above median its own 10-year median of 4.26. 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 Possible Value Trap. The stock's GF Value™ is $13.03, compared to a current price of $7.26 — trading 44.3% below its estimated fair value. The current Return-on-Tangible-Asset is 6.88%, which is 62% above median its 10-year median of 4.26 and 51.5% above the Asset Management industry median of 4.54. WhiteHorse Finance's overall GF Score™ is 42/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For WhiteHorse Finance (WHF), the current Return-on-Tangible-Asset is 6.88% 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 (WHF) Overvalued in 2026?
Based on GuruFocus' analysis, WhiteHorse Finance stock appears to be undervalued.
The current stock price of $7.26 is trading 44.3% below its estimated GF Value™ of $13.03.
GuruFocus considers WhiteHorse Finance to be Possible Value Trap.
Key valuation signals for WHF:
Return-on-Tangible-Asset: 6.88% (62% above median its 10-year median of 4.26)
GF Value™: $13.03 vs. price of $7.26 (44.3% below fair value)
Industry Position: 51.5% above the Asset Management median (#969 of 1632)
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.
42GF Score
Get the complete analysis for WHF
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
WHF has been successfully added to your 
