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Atlanticus Holdings
(NASDAQ:ATLC)
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Rating:61Neutral
Price Target:
$114.00
▲(60.65% Upside)
Action:Reiterated
Date:06/26/26
The score is held back primarily by high leverage and deteriorating cash-flow-to-debt coverage, alongside margin compression despite strong growth. Offsetting these are strong technical momentum and a constructive earnings-call outlook (reaffirmed multi-year guidance and ahead-of-plan integration), with valuation appearing reasonable based on the provided P/E.
Positive Factors
Sustained revenue growth
Very strong top-line growth reflects both organic expansion and the Mercury acquisition, increasing scale across private-label and general-purpose products. Durable revenue expansion supports fixed-cost absorption, program economics, and negotiating leverage with partners over the next 2–6 months.
Negative Factors
Very high leverage
An elevated debt load and sharply reduced cash-flow-to-debt coverage materially raise funding and refinancing risk. This profile amplifies sensitivity to rising interest rates or market dislocations and constrains flexibility for capital allocation or further M&A over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained revenue growth
Very strong top-line growth reflects both organic expansion and the Mercury acquisition, increasing scale across private-label and general-purpose products. Durable revenue expansion supports fixed-cost absorption, program economics, and negotiating leverage with partners over the next 2–6 months.
Read all positive factors
Atlanticus Holdings (ATLC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.55B
Dividend YieldN/A
Average Volume (3M)125.66K
Price to Earnings (P/E)12.2
Beta (1Y)1.78
Revenue Growth68.59%
EPS Growth30.27%
CountryUS
Employees417
SectorFinancial
Sector Strength70
IndustryFinancial - Credit Services
Share Statistics
EPS (TTM)8.34
Shares Outstanding15,117,997
10 Day Avg. Volume151,421
30 Day Avg. Volume125,657
Financial Highlights & Ratios
PEG Ratio0.37
Price to Book (P/B)1.66
Price to Sales (P/S)1.44
P/FCF Ratio1.60
Enterprise Value/Market Cap4.53
Enterprise Value/Revenue5.60
Enterprise Value/Gross Profit7.46
Enterprise Value/Ebitda22.41
Forecast
1Y Price Target
$130.00Price Target Upside83.20% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)9.49
Revenue Forecast (FY)$2.98B
Atlanticus Holdings Business Overview & Revenue Model
Company Description
Atlanticus Holdings Corporation, operating under the ticker ATLC, is a financial services enterprise providing a spectrum of credit and related financial solutions to consumers throughout the United States. The company's operations are structured ...
How the Company Makes Money
Atlanticus primarily makes money by extending consumer credit and earning finance-related income and fees from those credit programs, as well as by selling or securitizing receivables to fund lending and manage risk.
Key revenue streams typically...
Atlanticus Holdings Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 07, 2026
Earnings Call Sentiment Positive
The call conveys a predominantly positive outlook driven by very strong top-line growth (97% revenue increase), materially higher net income (+50% EPS), robust managed receivable expansion (35% ex-Mercury), and an integration of the Mercury acquisition that is ahead of plan. Offsetting items include a large negative fair value adjustment of $366 million, substantially higher interest expense (+158%) and rising operating expenses (+69%) tied to the acquisition and expanded receivables. Despite these pressures, management emphasized stable asset performance, healthy liquidity, and better-than-modeled origination economics, leading to confidence in the company’s positioning.Positive Updates
Strong Revenue Growth
Total operating revenue increased 97% year-over-year to $680 million for Q1 2026, driven in part by $224 million from the Mercury acquisition.
Negative Updates
Large Negative Change in Fair Value of Loans
Changes in fair value of loans were negative $366 million, reflecting a larger receivables base and corresponding charge-offs, partially offset by favorable assumption changes.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Revenue Growth
Total operating revenue increased 97% year-over-year to $680 million for Q1 2026, driven in part by $224 million from the Mercury acquisition.
Read all positive updates
Company Guidance
Atlanticus said it is reaffirming the multi-year guidance it provided with the Mercury acquisition and expects to remain within the previously disclosed range for 2026 and 2027, while completing integration sooner than the 18‑month timeline originally outlined; management said originations, unit economics and portfolio-management actions are “ahead of plan,” supporting disciplined, profitable growth. For context, Q1 results that underpin that guidance included managed receivables growth (ex‑Mercury) of 35%, net income attributable to common shareholders of $41.9 million ($2.23 diluted EPS), return on average equity of 26.8%, total operating revenue of $680 million (up 97% YoY), net margin of $190 million (up >60% YoY), a -$366 million fair‑value loans charge, a ~$13 million contingent consideration reduction, interest expense of $123 million (up 158% YoY), operating expenses of $131 million (up 69% YoY), total assets of $7.5 billion, total equity of $644 million, and $650 million of unrestricted cash, with management noting stable delinquency/charge‑off trends and no material change in underlying consumer behavior.Atlanticus Holdings Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
38
Negative
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.25B | 704.50M | 459.57M | 365.68M | 374.42M | 453.93M |
| Gross Profit | 937.79M | 396.36M | 283.03M | 254.19M | 291.31M | 363.34M |
| EBITDA | 312.34M | 169.61M | 143.76M | 132.60M | 154.12M | 222.07M |
| Net Income | 134.86M | 122.20M | 111.30M | 102.84M | 135.60M | 177.90M |
Balance Sheet | ||||||
| Total Assets | 7.47B | 7.62B | 3.27B | 2.71B | 2.39B | 1.94B |
| Cash, Cash Equivalents and Short-Term Investments | 804.06M | 621.09M | 375.42M | 339.34M | 384.98M | 409.66M |
| Total Debt | 6.35B | 6.54B | 2.51B | 2.03B | 1.82B | 1.43B |
| Total Liabilities | 6.78B | 7.02B | 2.78B | 2.31B | 2.06B | 1.66B |
| Stockholders Equity | 688.43M | 608.70M | 492.91M | 394.68M | 326.41M | 288.00M |
Cash Flow | ||||||
| Free Cash Flow | 790.14M | 632.94M | 467.62M | 455.32M | 341.28M | 205.28M |
| Operating Cash Flow | 792.74M | 637.96M | 469.40M | 459.32M | 346.13M | 212.37M |
| Investing Cash Flow | -1.45B | -1.51B | -747.03M | -672.20M | -680.78M | -475.02M |
| Financing Cash Flow | 998.06M | 1.14B | 393.61M | 163.34M | 261.25M | 510.33M |
Atlanticus Holdings Technical Analysis
Positive
70.96
Price Trends
84.22
Positive
69.80
Positive
65.09
Positive
Market Momentum
7.02
Negative
79.15
Negative
89.73
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ATLC, the sentiment is Positive. The current price of 70.96 is below the 20-day moving average (MA) of 92.64, below the 50-day MA of 84.22, and above the 200-day MA of 65.09, indicating a bullish trend. The MACD of 7.02 indicates Negative momentum. The RSI at 79.15 is Negative, neither overbought nor oversold. The STOCH value of 89.73 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ATLC.
Atlanticus Holdings Risk Analysis
Atlanticus Holdings disclosed 54 risk factors in its most recent earnings report. Atlanticus Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Atlanticus Holdings Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $379.38M | 8.10 | 13.16% | 2.99% | 10.51% | 53.17% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $2.13B | 14.22 | 13.94% | ― | 22.81% | 47.41% | |
61 Neutral | $1.55B | 12.21 | 21.67% | ― | 68.59% | 30.27% | |
59 Neutral | $261.17M | 15.20 | 4.63% | ― | -3.81% | ― | |
54 Neutral | $1.04B | 30.01 | 9.36% | ― | 3.70% | -54.55% | |
48 Neutral | $724.30M | -2.62 | -26.42% | ― | 12.38% | -498.81% |
* Financial Sector Average
ATLC
Atlanticus Holdings
102.25
46.83
84.50%
EZPW
EZCORP
34.57
20.80
151.05%
PRAA
Pra Group
18.99
3.79
24.93%
RM
Regional Management
41.20
11.38
38.15%
WRLD
World Acceptance
223.83
54.74
32.37%
OPRT
Oportun Financial
5.71
-1.03
-15.28%
Atlanticus Holdings Corporate Events
Executive/Board ChangesShareholder Meetings
Atlanticus Shareholders Reelect Full Board at 2026 Meeting
Positive
May 13, 2026
Atlanticus Holdings Corporation held its Annual Meeting of Shareholders on May 7, 2026, where proxies were solicited under Section 14(a) of the Securities Exchange Act of 1934 without any opposing solicitation. At the meeting, shareholders voted o...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.