WHF vs MRSN

Comparison between WhiteHorse Finance Inc (WHF, Company) and Mersana Therapeutics Inc (MRSN, Company).

WHF is from the Financial Services sector, while MRSN is from the Healthcare sector.

5-Year PerformanceWHF has outperformed MRSN, delivering a return of -3.3% compared to -42.3%

WHF vs MRSN - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	WHF(COMPANY)	MRSN(COMPANY)
Market Cap	$146M	$145M
Max Drawdown	62.93%	99.13%
Sharpe Ratio	-0.41	0.58
5Y Beta	0.34	N/A
Industry	Asset Management	Biotechnology
P/E Ratio	15.95	-2.04
Forward P/E	6.19	N/A
PEG Ratio	2.53	N/A
Dividend Yield	19.00%	N/A
5Y Dividends CAGR	-3.81%	N/A
5Y EPS CAGR	N/A	-15.54%
Debt to Equity	129.48%	0.00%
Free Cash Flow Yield	77.31%	-51.16%
P/S Ratio	2.05	N/A
P/B Ratio	0.57	N/A

Market Cap

Winner

WHF

$146M

MRSN

$145M

Max Drawdown

Winner

WHF

62.93%

MRSN

99.13%

Sharpe Ratio

WHF

-0.41

Winner

MRSN

0.58

5Y Beta

WHF

0.34

MRSN

N/A

Industry

WHF

Asset Management

MRSN

Biotechnology

P/E Ratio

WHF

15.95

Winner

MRSN

-2.04

Forward P/E

WHF

6.19

MRSN

N/A

PEG Ratio

WHF

2.53

MRSN

N/A

Dividend Yield

WHF

19.00%

MRSN

N/A

5Y Dividends CAGR

WHF

-3.81%

MRSN

N/A

5Y EPS CAGR

WHF

N/A

MRSN

-15.54%

Debt to Equity

WHF

129.48%

Winner

MRSN

0.00%

Free Cash Flow Yield

Winner

WHF

77.31%

MRSN

-51.16%

P/S Ratio

WHF

2.05

MRSN

N/A

P/B Ratio

WHF

0.57

MRSN

N/A

WHF vs MRSN - Historical Returns

Returns include dividend reinvestment.

Period	WHF	MRSN
1 month	-5.08%	+4.70%
3 months	-2.53%	+254.63%
6 months	-2.22%	+282.25%
1 year	-12.73%	-14.47%
5 years(CAGR)	-3.25%	-42.31%
10 years(CAGR)	+8.57%	-25.31%
Max(CAGR)	+6.94%	-25.31%

WHF

-5.08%

Winner

MRSN

+4.70%

WHF

-2.53%

Winner

MRSN

+254.63%

WHF

-2.22%

Winner

MRSN

+282.25%

Winner

WHF

-12.73%

MRSN

-14.47%

5Y(CAGR)

Winner

WHF

-3.25%

MRSN

-42.31%

10Y(CAGR)

Winner

WHF

+8.57%

MRSN

-25.31%

Max(CAGR)

Winner

WHF

+6.94%

MRSN

-25.31%

WHF vs MRSN - Annual Returns (2012 - 2026)

Returns include dividend reinvestment.

Year	WHF	MRSN
2026	+2.21%	+0.14%
2025	-17.37%	-17.34%
2024	-8.37%	-37.00%
2023	+7.48%	-59.51%
2022	-5.77%	-9.01%
2021	+26.97%	-76.55%
2020	+18.57%	+396.46%
2019	+18.96%	+32.95%
2018	+6.89%	-76.54%
2017	+21.29%	+17.36%
2016	+20.16%	N/A
2015	+9.71%	N/A
2014	-13.62%	N/A
2013	+10.27%	N/A
2012	+5.30%	N/A

WHF vs MRSN Drawdown Comparison

The maximum drawdown for WHF was -57.48%, occurring on Mar 18, 2020. Recovery took 189 trading sessions.

The maximum drawdown for MRSN was -99.13%, occurring on Aug 11, 2025. This drawdown has not yet recovered.

The current WHF drawdown is -27.93%. The current MRSN drawdown is -95.78%.

Rank	WHF	MRSN
#1	-57.48% Feb 19, 2020 - Nov 16, 2020	-99.13% Dec 23, 2020 - Aug 11, 2025
#2	-37.56% May 22, 2024 - Feb 24, 2026	-93.61% May 25, 2018 - Jun 25, 2020
#3	-28.62% Oct 16, 2015 - Dec 9, 2016	-34.46% Sep 16, 2020 - Dec 1, 2020
#4	-25.48% Aug 16, 2022 - Jul 13, 2023	-31.86% Oct 3, 2017 - May 22, 2018
#5	-25.08% Oct 20, 2017 - May 24, 2018	-30.77% Jun 30, 2020 - Sep 14, 2020
#6	-19.21% Nov 8, 2013 - May 11, 2015	-14.30% Sep 11, 2017 - Sep 22, 2017
#7	-18.72% Jun 14, 2018 - Apr 17, 2019	-11.24% Dec 1, 2020 - Dec 21, 2020
#8	-16.90% Apr 20, 2022 - Aug 16, 2022	-5.21% Jun 28, 2017 - Jul 12, 2017
#9	-14.22% Sep 25, 2015 - Oct 15, 2015	-5.21% Sep 14, 2020 - Sep 16, 2020
#10	-12.29% Aug 2, 2023 - Jan 8, 2024	-4.29% Aug 21, 2017 - Aug 29, 2017
#11	-11.78% May 11, 2015 - Sep 11, 2015	-4.26% Sep 22, 2017 - Oct 2, 2017
#12	-11.38% Apr 13, 2021 - Oct 19, 2021	-3.25% Jul 27, 2017 - Aug 8, 2017
#13	-10.80% May 6, 2019 - Sep 20, 2019	-2.71% Jun 25, 2020 - Jun 30, 2020
#14	-9.06% Jun 23, 2017 - Sep 6, 2017	-2.48% Aug 14, 2017 - Aug 18, 2017
#15	-8.21% Jun 18, 2013 - Jun 28, 2013	-2.13% Aug 30, 2017 - Sep 11, 2017

Correlation

Correlation between WHF and MRSN is -0.53 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.

-0.53

-101