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WhiteHawk Income Corp (WHK) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of WhiteHawk Income Corp $9.48, price $26.48, upside -64.2%, quality 25 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Energy · US · ISIN US96524T1016

WI WhiteHawk Income Corp logo Some data Sep 23, 2026

WhiteHawk Income Corp

WHK · US

Weakest SetupStrongly overvalued and low quality.

!Fair value $9.48 · Strongly overvalued (−64%)
!Quality 25/100
!Expensive Growth (revenue YoY +427.7 %/yr)
!Loss-making · -46.2% net margin (TTM)
!Moderate debt · negative free cash flow
·7.49% dividend yield
!Trails peers (2/12)
!Narrow moat 10/100
!Evidence only medium, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$28.66 $0.0050 Fair Value $9.48 Apr 2026 Sep 2026

White line = price, green steps = our fair value per fiscal year. As of Sep 23, 2026.

How to read this chart

5‑month range $0.0050 – $28.66 · fair‑value band $5.33 – $12.91 · the $26.48 price screens above the $9.48 fair value. As of Sep 23, 2026.

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Company profile

WhiteHawk Minerals Corp. focuses on being the premier natural gas mineral and royalty business in the United States. It engages in disciplined acquisition, active management and ownership of high-quality mineral and royalty interests. The company was formerly known as WhiteHawk Income Corporation and changed its name to WhiteHawk Minerals Corp.

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WhiteHawk Minerals Corp. focuses on being the premier natural gas mineral and royalty business in the United States. It engages in disciplined acquisition, active management and ownership of high-quality mineral and royalty interests. The company was formerly known as WhiteHawk Income Corporation and changed its name to WhiteHawk Minerals Corp. in June 2026. The company was incorporated in 2022 and is based in Philadelphia, Pennsylvania.

Stock analysis

WhiteHawk Income Corp (WHK) currently trades at $26.48, while our model-based Fair Value estimate is $9.48, implying the stock looks roughly 179.4% overvalued today.

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Valuation

Bull case: the Dividend Discount group reads highest at a median of $10.50 per share, and 0 of the 3 models we run sit above the $26.48 price.

Bear case: the Asset-Based group reads lowest at $5.88, and 3 of the 3 models stay below the price. Evidence for this calculation is medium.

Scenario range: $5.33 (bear) to $12.91 (bull), the price of $26.48 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 25/100 (below-average quality), in the Energy sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

WhiteHawk Income Corp reported revenue of $73.2M in FY2025 versus $8.0M in FY2023, a compound +202.8%/yr. Reported net income was −$26.9M in FY2025.

Key figures

Market cap $627M · P/S ratio 8.16 · EPS (TTM) $−2.96 · Dividend yield 7.5% · Net margin −36.8% · Return on assets (EBIT) −0.2% · Operating margin −7.4% · Revenue (TTM) $76.7M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (low confidence).

What moves the price

For context, the median of 10 Energy peers we cover trades at −11% fair-value upside, at −64%, WHK screens richer than that median.

Fair Value models

Bear $5.33 Fair Value $9.48 Bull $12.91
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Gordon GGM $6.38 $11.50 $15.83 60
DDM Multi-Stage $6.38 $10.50 $12.28 60
NCAV (Graham) $4.39 $5.88 $8.77 54
All 3 models by family
Dividend Discount
Gordon GGM $6.38 $11.50 $15.83 60
DDM Multi-Stage $6.38 $10.50 $12.28 60
Asset-Based
NCAV (Graham) $4.39 $5.88 $8.77 54

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Quality Score breakdown

Overall quality 25/100

Of which business quality 28 · Market factors (momentum, volatility) 48

Profitability 3
Margins and returns on capital today
Quality Growth 77
Are margins and returns improving?
Cashflow 22
Earnings quality: real cash, not paper profit
Fin. Strength 28
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 49
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 50
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: only 3 usable fiscal years, at least 4 required
not computed

WHK screens 179% overvalued. Compare with Enbridge Inc →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Oil & Gas Midstream · 86 stocks

Beats the industry median on 2/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 25 · Bottom 25%
Fair Value upside −64% · Bottom 25%
Profitability
Return on assets 0% · Bottom 25%
Net margin (TTM) −46% · Bottom 25%
Operating margin (TTM) −7% · Bottom 25%
Growth and dividend
Revenue growth 74% · Top 25%
Dividend yield (TTM) 7.5% · Top 25%
Balance sheet
Debt / equity 1.09× · Above median

Valuation Multiplesvs Oil & Gas Midstream median · lower = cheaper

P/B 3.00× · Pricier than median
P/S (TTM) 8.16× · Priciest 25%
EV/EBITDA 12.6× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 24
FUTURE (revenue growth)100 · sector 57
PAST (return on equity)0 · sector 45
HEALTH (low debt)45 · sector 54
DIVIDEND (yield)100 · sector 81

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

Similar stocks

10 more Oil & Gas Midstream stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Enbridge Inc ENB $47.90 $36.91 −23%
The Williams Companies, Inc WMB $70.98 $11.73 −83%
Enterprise Products Partners L.P. EPD $38.01 $24.61 −35%
Kinder Morgan, Inc KMI $31.27 $28.24 −10%
TC Energy Corporation TRP $59.78 $24.51 −59%
Energy Transfer LP, ET $20.40 $19.43 −5%
MPLX LP owns and MPLX $59.16 $70.84 +20%
ONEOK, Inc OKE $90.09 $80.35 −11%
Targa Resources Corp TRGP $282.15 $79.61 −72%
Cheniere Energy, Inc LNG $272.96 $349.73 +28%

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WhiteHawk Income Corp · Fair Value
$9.48 −179%Fair Value
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Cite: Fair Value Calculator (2026). "WhiteHawk Income Corp Fair Value". https://www.fairvalue-calculator.com/stock/WHK

Frequently asked questions

Is WhiteHawk Income Corp (WHK) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $9.48 versus a price of $26.48, about −64% upside (overvalued).
What is the fair value of WHK?
Our model-based fair value for WhiteHawk Income Corp is $9.48 (as of Sep 23, 2026), built from audited fundamentals. The current price: $26.48.
What is the quality score of WHK?
WhiteHawk Income Corp has a Quality Score of 25/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for WhiteHawk Income Corp (WHK)?
Our model-based price target is the fair value of $9.48 (as of Sep 23, 2026) from 3 valuation models. Cautious scenario $5.33, optimistic scenario $12.91. It is a calculation from audited fundamentals, not an analyst target.
What is the WhiteHawk Income Corp stock forecast for 2026?
Our models put fair value at $9.48, about −64% upside versus a price of $26.48 (overvalued). Cautious scenario $5.33, optimistic scenario $12.91. The calculation is refreshed regularly with new filings.
What is the revenue of WhiteHawk Income Corp (WHK)?
WhiteHawk Income Corp reported trailing-twelve-month revenue of about $76.7M (latest available figure, as of Sep 23, 2026).
Does WhiteHawk Income Corp pay a dividend?
WhiteHawk Income Corp currently shows a dividend yield of about 7.49% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of WhiteHawk Income Corp (WHK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For WhiteHawk Income Corp it is $9.48 per share (as of Sep 23, 2026), against a price of $26.48. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is WhiteHawk Income Corp stock overvalued or undervalued in 2026?
As of Sep 23, 2026, WHK trades above its calculated fair value: price $26.48, fair value $9.48, a gap of about −64% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of WHK?
No. The price is what the market pays today ($26.48); the fair value is what the company's own numbers justify ($9.48). For WhiteHawk Income Corp the two are $17.00 per share apart. That gap is exactly why we show both numbers side by side.
How much is WhiteHawk Income Corp worth?
The market values WhiteHawk Income Corp at about $627M (market capitalisation, as of Sep 23, 2026). Per share that is $26.48; our models calculate a fair value of $9.48 per share.
What do the bullish and bearish scenarios say about WHK?
Our models span a range for WhiteHawk Income Corp: cautious scenario $5.33, base $9.48, optimistic $12.91 per share (as of Sep 23, 2026, price $26.48). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of WhiteHawk Income Corp (WHK)?
Balance-sheet figures for WhiteHawk Income Corp (as of Sep 23, 2026): debt of 1.09 per unit of equity. They feed the Quality Score of 25/100, which measures business quality independently of the share price.
Which stocks are comparable to WhiteHawk Income Corp?
From the same area (Energy) we also value Enbridge Inc, The Williams Companies, Inc, Enterprise Products Partners L.P., Kinder Morgan, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is WhiteHawk Income Corp stock attractive at the current price?
The data as of Sep 23, 2026: price $26.48, calculated fair value $9.48 (−64%), Quality Score 25/100, from 3 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of WHK calculated?
We run WhiteHawk Income Corp through 3 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $9.48, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. WhiteHawk Income Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of WhiteHawk Income Corp (WHK)?
The closing price on Sep 23, 2026 was $26.48. Our model-based fair value is $9.48, about −64% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with WhiteHawk Income Corp right now?
The price sits above even our optimistic bull case ($12.91). The favourable scenario is already priced in. Weak quality (25/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range ($5.33 to $12.91) leaves room in how you read the outcome.

Key figures of WhiteHawk Income Corp

How large is the market capitalisation of WhiteHawk Income Corp (WHK)?
The market capitalisation of WhiteHawk Income Corp is $627M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of WhiteHawk Income Corp (WHK)?
The price-to-sales ratio of WhiteHawk Income Corp is 8.16 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of WhiteHawk Income Corp (WHK)?
Earnings per share at WhiteHawk Income Corp are $−2.96. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of WhiteHawk Income Corp (WHK)?
The dividend yield of WhiteHawk Income Corp is 7.5%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of WhiteHawk Income Corp (WHK)?
The net margin of WhiteHawk Income Corp is −36.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the EBIT return on assets of WhiteHawk Income Corp (WHK)?
On an EBIT basis the return on assets of WhiteHawk Income Corp is −0.2% (avg 3y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of WhiteHawk Income Corp (WHK)?
The operating margin of WhiteHawk Income Corp is −7.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at WhiteHawk Income Corp (WHK)?
Revenue at WhiteHawk Income Corp is growing +74.1% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does WhiteHawk Income Corp (WHK) generate?
The free cash flow of WhiteHawk Income Corp is −$102M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does WhiteHawk Income Corp (WHK) carry?
The net debt of WhiteHawk Income Corp is $206M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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