SOFI
SoFi Technologies, Inc.
SOFI has the edge over WHF overall, supported by stronger modeled upside and stronger fundamentals.
WHF
WhiteHorse Finance, Inc.
WHF has slightly lower modeled downside risk, despite its lower overall score.
SOFI Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| N/A | |
| N/A |
SOFI's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like SOFI.
WHF Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Strong | |
| N/A | |
| N/A |
WHF's profitability is currently strong, but its revenue is under pressure. Free cash flow and net leverage aren't meaningful measures for financial services companies like WHF.
SOFI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 19x | $15.63 | — |
| Current | 28x | $15.63 | — |
| Cheap | 33x | $18.24 | +17% |
| Fair | 43x | $23.82 | +52% |
| Expensive | 53x | $29.74 | +90% |
Historical ranges are pointers, not guarantees.
SOFI has the edge over WHF in the historical PE scenario, which offers more potential upside but is not a forecast.
WHF PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 7.5x | $8.31 | — |
| Cheap | 8.9x | $9.91 | +19% |
| Forward | 9.3x | $8.31 | — |
| Fair | 14x | $15.50 | +87% |
| Expensive | 21x | $23.35 | +181% |
Historical ranges are pointers, not guarantees.
WHF's PE is in its cheap range at 7.5x. Analysts expect earnings to fall, which would put today's price at 9.3x next year's earnings.
SOFI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
SOFI has the edge over WHF on the outlook, with more favorable valuation and earnings expectations.
WHF Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Decline | |
| Stable | |
| Strongly weakening | |
| Limited | |
| Moderate |
Analysts expect WHF's earnings and profitability to decline, with its revenue holding steady.
SOFI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.82 | +47% |
| Q3 2026 | $0.56 | 0% |
| Q2 2026 | $0.49 | -2% |
| Q1 2026 | $0.45 | +4.7% |
| Q4 2025 | $0.39 | 0% |
| Q3 2025 | $0.56 | +367% |
| Q2 2025 | $0.50 | +$0.72 |
| Q1 2025 | $0.43 | +$0.72 |
| Q4 2024 | $0.39 | +$0.75 |
SOFI has the edge over WHF on earnings, with more consistent year-over-year improvement.
WHF Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.90 | -19% |
| Q3 2026 | $1.11 | +158% |
| Q2 2026 | $0.79 | +427% |
| Q1 2026 | $0.41 | +5.1% |
| Q4 2025 | $0.62 | +32% |
| Q3 2025 | $0.43 | -4.4% |
| Q2 2025 | $0.15 | -85% |
| Q1 2025 | $0.39 | -52% |
| Q4 2024 | $0.47 | -47% |
WHF's earnings per share have fallen from their peak: $1.11 over the past year, against $2.97 in early 2021.
SOFI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.4B | +44% |
| Q2 2026 | $1.2B | +43% |
| Q1 2026 | $1.1B | +43% |
| Q4 2025 | $1B | +40% |
| Q3 2025 | $961.6M | +38% |
| Q2 2025 | $854.9M | +43% |
| Q1 2025 | $771.8M | +20% |
| Q4 2024 | $734.1M | +19% |
SOFI has the stronger quarterly revenue trend. Revenue is up 44% for SOFI versus down 13% for WHF.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 23% | +7.5 points |
| Q2 2026 | 17% | +3.6 points |
| Q1 2026 | 18% | +7.8 points |
| Q4 2025 | 18% | +9.9 points |
| Q3 2025 | 15% | +6.3 points |
| Q2 2025 | 13% | +11 points |
| Q1 2025 | 10% | -4.3 points |
| Q4 2024 | 8.2% | -0.2 points |
SOFI's operating margin was 23% last quarter, up 7.5 points from the same quarter a year ago, near the top of its range since 2021.
WHF Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2022 | $13.7M | -13% |
| Q1 2022 | $11.8M | -10% |
| Q4 2021 | $9.6M | -25% |
| Q3 2021 | $13.4M | -47% |
| Q2 2021 | $15.8M | -42% |
| Q4 2020 | $12.8M | -3.5% |
WHF's revenue has slid since its 2020 peak: $14M last quarter, down 13% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2022 | 55% | -14 points |
| Q1 2022 | 50% | -13 points |
| Q4 2021 | 34% | -32 points |
| Q3 2021 | 63% | -23 points |
| Q2 2021 | 69% | -16 points |
| Q1 2021 | 64% | N/A |
| Q4 2020 | 66% | -1 points |
| Q3 2020 | 86% | N/A |
WHF's operating margin was 55% last quarter, down 14 points from the same quarter a year ago.
SOFI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$3.1B | -$1.7B |
| Q2 2026 | -$4B | -$2.5B |
| Q1 2026 | -$2.4B | -$2.4B |
| Q4 2025 | -$1.1B | -$815.2M |
| Q3 2025 | -$1.4B | -$149M |
| Q2 2025 | -$1.5B | -$1B |
| Q1 2025 | -$31.1M | -104% |
| Q4 2024 | -$242.4M | +$39.9M |
SOFI's free cash flow was −$10.5B over the past year, against −$3.2B the year before. Free cash flow isn't a meaningful measure for financial services companies like SOFI.
WHF Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $422K | -99% |
| Q2 2026 | -$13M | -160% |
| Q1 2026 | $28.2M | +$35.3M |
| Q4 2025 | $959K | -95% |
| Q3 2025 | $61.6M | +323% |
| Q2 2025 | $21.7M | -48% |
| Q1 2025 | -$7M | -538% |
| Q4 2024 | $21.1M | +33% |
WHF has the edge over SOFI on cash generation, producing positive trailing cash flow while its opponent burns cash.
SOFI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +5.8M shares |
| 1 year | +5.2% | +66.8M shares |
| 3 years | +43% | +407M shares |
| 5 years | +272% | +993M shares |
SOFI has 1.4B diluted shares, up 5.2% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | — |
| Q1 2022 | — |
| Q4 2021 | — |
| Q3 2021 | — |
WHF Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -94.9K shares |
| 1 year | -7.6% | -1.8M shares |
| 3 years | -7.6% | -1.8M shares |
| 5 years | +3% | +625K shares |
| Available history | +4.5% | +930K shares |
WHF has the edge over SOFI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $2.6M |
| Q1 2026 | $3M |
| Q2 2022 | $74,000 |
| Q1 2022 | $50,000 |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
SOFI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -2.4x | Net Cash |
| Q2 2026 | -3.1x | Net Cash |
| Q1 2026 | -3.8x | Net Cash |
| Q4 2025 | -6.5x | Net Cash |
| Q3 2025 | -5.2x | Net Cash |
| Q2 2025 | -4.0x | Net Cash |
| Q1 2025 | -4.9x | Net Cash |
| Q4 2024 | -5.8x | Net Cash |
SOFI has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like SOFI.
WHF Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2022 | 16.4x | High |
| Q1 2022 | 16.2x | High |
| Q4 2021 | 14.9x | High |
| Q3 2021 | 10.2x | High |
| Q2 2021 | 7.1x | High |
| Q1 2021 | 5.3x | High |
| Q4 2020 | 11.6x | High |
| Q3 2020 | 8.6x | High |
WHF's net debt is about 16 years of its operating earnings (EBITDA), up from 7.0 years a year ago. Net leverage isn't a meaningful measure for financial services companies like WHF.
SOFI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.1 | Neutral |
| Stochastic | 41.5 | Neutral |
SOFI's weekly RSI is 43 (neutral) and its Stochastic is 41 (neutral).
WHF Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 69.1 | Neutral |
| Stochastic | 89.8 | Overbought |
WHF's weekly RSI is 69 (neutral) and its Stochastic is 90 (overbought).
SOFI PE vs Financial Services Sector
| Metric | SOFI | Sector median | Relative |
|---|---|---|---|
| PE | 28x | 13x | 114% above |
| PE % | 2 | 61 | 59 pts below |
SOFI is trading at 28x earnings, a 114% premium to the Financial Services sector's median of 13x.
WHF PE vs Financial Services Sector
| Metric | WHF | Sector median | Relative |
|---|---|---|---|
| PE | 7.5x | 13x | 42% below |
| PE % | 10 | 63 | 53 pts below |
WHF has the edge over SOFI on valuation relative to its sector.
SOFI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $15.7 | 0.7% below |
| 20 week MA | $17.0 | 7.8% below |
| 50 week MA | $18.9 | 17% below |
| 100 week MA | $18.9 | 17% below |
| 200 week MA | $13.5 | 16% above |
SOFI has fallen below most of its moving averages, though it's still 16% above its 200-week average.
WHF Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $7.65 | 8.6% above |
| 20 week MA | $7.17 | 16% above |
| 50 week MA | $7.08 | 17% above |
| 100 week MA | $8.00 | 3.9% above |
| 200 week MA | $10.2 | 19% below |
WHF has the edge over SOFI on trend strength, trading above more of its moving averages.
SOFI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.4 | $12.4 | +19% |
| 2021 | $12.4 | $15.1 | +22% |
| 2022 | $15.1 | $4.61 | -69% |
| 2023 | $4.61 | $9.95 | +116% |
| 2024 | $9.95 | $16.0 | +61% |
| 2025 | $16.0 | $27.1 | +69% |
| 2026 YTD | $27.1 | $15.6 | -42% |
SOFI's yearly returns have swung widely, from +116% in 2023 to −69% in 2022. It's down 42% so far in 2026.
WHF Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $13.6 | $13.3 | -2.8% |
| 2021 | $13.3 | $15.5 | +17% |
| 2022 | $15.5 | $12.6 | -19% |
| 2023 | $12.6 | $12.3 | -2.2% |
| 2024 | $12.3 | $9.75 | -21% |
| 2025 | $9.75 | $6.98 | -28% |
| 2026 YTD | $6.98 | $8.31 | +19% |
WHF has the edge over SOFI on returns for 2026, with the stronger performance.