WhiteHorse Finance, Inc. (WHF) vs Westwood Holdings Group Inc (WHG)

WhiteHorse Finance, Inc. and Westwood Holdings Group Inc are both Asset Management companies. Westwood Holdings Group Inc is the larger, with a market value of $180.4M against $151.6M — 1.2× the size. WhiteHorse Finance, Inc. trades at the lower P/E: 8.9× against 20.5×. Westwood Holdings Group Inc grew revenue faster over the last twelve months: 6.30% against −19.9%. WhiteHorse Finance, Inc. has the higher net margin (26.9% vs 7.73%) and the lower return on invested capital (2.67% vs 3.48%). Both pay a dividend; WhiteHorse Finance, Inc. yields more (11.8% vs 5.07%). Across the 22 metrics below, WhiteHorse Finance, Inc. leads on 11 and Westwood Holdings Group Inc on 11.

Valuation

Metric WHF WHG Asset Management median
P/E 8.91 20.46 14.62
P/S 2.33 1.62 2.97
P/B 0.60 1.29 0.94
Price to free cash flow 1.95 10.16 8.93
EV/EBITDA 10.53 14.45 10.32
EV/Sales 6.88 1.20 5.72
Earnings yield 11.22% 4.89% 4.53%
Free cash flow yield 51.26% 9.84% 4.65%

Profitability

Metric WHF WHG Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 67.65% 4.66% 33.03%
Net margin 26.88% 7.73% 13.53%
Free cash flow margin 119.28% 16.36% 12.44%
Return on equity 6.65% 6.29% 4.83%
Return on assets 2.75% 5.21% 1.57%
Return on invested capital 2.67% 3.48% 3.04%

Growth

Metric WHF WHG Asset Management median
Revenue growth (TTM) (19.92%) 6.30% 6.97%
EPS growth (last fiscal year) 31.91% 203.85% —
Revenue growth, 5-year CAGR 3.33% 8.47% 12.13%
Net income growth, 5-year CAGR (14.67%) 0.00% 0.00%

Health

Metric WHF WHG Asset Management median
Debt to equity 1.29 0.00 0.42
Current ratio 1.39 3.76 1.28
Net debt to EBITDA 6.19 (5.06) 1.06

Dividend

Metric WHF WHG Asset Management median
Dividend yield 11.79% 5.07% 6.92%
Payout ratio 2.35 3.75 0.77

Size

Metric WHF WHG Asset Management median
Market cap 151.62m 180.39m 721.34m

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