WhiteHorse Finance (WHF) Balance Sheet: Assets & Liabilities

WhiteHorse Finance (WHF) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), WhiteHorse Finance reported total assets of $615.13M and total liabilities of $355.34M. Shareholders' equity was $259.79M, down 9.2% from $286.13M a year earlier. Total debt stood at $323.83M against $7.03M in cash and short-term investments, a net debt position of $316.80M. That puts debt-to-equity at 1.25, compared with 1.23 a year earlier.

WhiteHorse Finance Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for WhiteHorse Finance, Inc. (WHF) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	7.03	12.42	10.75	9.51	12.19	8.06	4.29	24.15	35.22
Cash & Short-Term Investments	7.03	12.42	10.75	9.51	12.19	8.06	4.29	24.15	35.22
Accounts Receivable	5.77	5.74	8.49	8.10	7.52	11.25	6.37	10.22	5.73
Inventory	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Current Assets	0.00	16.44	1.21	1.17	12.11	1.06	30.87	0.58	3.90
Total Current Assets	36.48	34.61	34.58	36.25	31.81	28.25	41.54	34.95	44.85
Non-Current Assets
Property, Plant & Equipment (Net)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Investments	578.65	130.00	696.17	760.23	819.21	690.74	589.69	0.00	440.68
Other Non-Current Assets	1.39	512.21	718.79	785.79	837.53	0.00	0.00	479.15	0.00
Total Non-Current Assets	580.04	642.21	696.17	760.23	819.21	690.74	589.69	479.15	440.68
Total Assets	615.13	676.82	730.75	796.47	851.02	718.99	631.22	514.10	485.53
Current Liabilities
Accounts Payable	8.87	5.68	2.09	13.35	2.44	2.21	1.94	11.62	8.52
Short-Term Debt	0.00	39.89	0.00	29.89	0.00	0.00	0.00	0.00	0.00
Current Portion of Long-Term Debt	-	39.89	-	29.89	-	-	-	-	-
Accrued Liabilities	-	22.60	16.13	12.25	13.81	11.34	-	-	-
Other Current Liabilities	21.82	31.55	8.99	8.25	22.03	7.29	17.26	0.00	7.94
Total Current Liabilities	30.69	77.12	27.22	52.73	24.47	20.84	19.20	11.62	16.46
Non-Current Liabilities
Long-Term Debt	323.83	313.23	386.45	440.43	475.96	384.88	298.92	175.95	182.12
Other Non-Current Liabilities	0.81	0.34	0.32	0.83	0.84	0.37	0.14	11.22	0.00
Total Non-Current Liabilities	324.65	313.57	386.76	411.36	476.80	385.25	299.07	187.18	182.12
Total Liabilities	355.34	390.69	413.98	464.09	501.27	406.09	318.27	198.80	198.58
Stockholders' Equity
Common Stock	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02
Retained Earnings	-69.35	-51.09	-21.53	-6.88	10.57	12.87	12.19	13.72	-15.36
Accumulated Other Comprehensive Income	0.00	-	-	0.00	0.00	0.00	0.00	0.00	-15.36
Additional Paid-in Capital	329.12	337.21	338.28	339.24	339.16	300.00	300.74	301.56	317.65
Shares Outstanding	22.23	23.24	23.24	23.24	23.16	-	-	-	-
Total Stockholders' Equity	259.79	286.13	316.77	332.39	349.75	312.90	312.96	315.30	286.95
Total Liabilities & Equity	615.13	676.82	730.75	796.47	851.02	718.99	631.22	514.10	485.53

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About WhiteHorse Finance Balance Sheet

How much debt does WhiteHorse Finance have?

WhiteHorse Finance had total debt of $323.83M as of Dec 31, 2025, against $7.03M in cash and short-term investments. Its debt-to-equity ratio was 1.25. Total debt was $353.12M a year earlier.

What are WhiteHorse Finance's total assets?

WhiteHorse Finance reported total assets of $615.13M as of Dec 31, 2025, down 9.1% from $676.82M a year earlier. Total liabilities were $355.34M.

What is WhiteHorse Finance's shareholders' equity?

WhiteHorse Finance's shareholders' equity was $259.79M as of Dec 31, 2025, or about $11.68 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition