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Enova International
(NYSE:ENVA)
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Rating:65Neutral
Price Target:
$194.00
▼(-20.29% Downside)
Action:Reiterated
Date:10/23/26
ENVA’s score is driven primarily by strong cash-flow generation and a favorable earnings outlook with positive guidance and continued buybacks. These positives are tempered by balance-sheet leverage and some profitability/margin pressure, while technical indicators point to softer momentum and limit the overall rating despite a relatively modest P/E.
Positive Factors
Broad-Based Growth
Growth is broad across originations, receivables, revenue and earnings, reducing reliance on a single performance measure. Twelve consecutive quarters of at least 20% originations growth indicates sustained demand and supports continued operating scale over the next several quarters.
Negative Factors
High Leverage
The materially higher leverage increases sensitivity to credit losses, funding conditions and portfolio performance. It can also reduce financial flexibility because more cash flow is committed to supporting debt-funded lending, making downturns or weaker repayment trends more consequential.
Read all positive and negative factors
Positive Factors
Negative Factors
Broad-Based Growth
Growth is broad across originations, receivables, revenue and earnings, reducing reliance on a single performance measure. Twelve consecutive quarters of at least 20% originations growth indicates sustained demand and supports continued operating scale over the next several quarters.
Read all positive factors
Enova International (ENVA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.48B
Dividend YieldN/A
Average Volume (3M)395.31K
Price to Earnings (P/E)12.6
Beta (1Y)1.34
Revenue Growth17.65%
EPS Growth43.92%
CountryUS
Employees1,836
SectorFinancial
Sector Strength70
IndustryFinancial - Credit Services
Share Statistics
EPS (TTM)14.29
Shares Outstanding24,898,370
10 Day Avg. Volume310,244
30 Day Avg. Volume395,306
Financial Highlights & Ratios
PEG Ratio0.22
Price to Book (P/B)2.91
Price to Sales (P/S)1.23
P/FCF Ratio2.20
Enterprise Value/Market Cap2.43
Enterprise Value/Revenue3.62
Enterprise Value/Gross Profit4.90
Enterprise Value/Ebitda13.96
Forecast
1Y Price Target
$250.43Price Target Upside2.89% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)17.28
Revenue Forecast (FY)$3.86B
Enova International Business Overview & Revenue Model
Company Description
Enova International, Inc., a technology and analytics company, provides online financial services in the United States, Brazil, and internationally. The company offers consumer and small business installment loans; consumer and small business line...
How the Company Makes Money
Enova primarily makes money by originating and servicing loans and earning interest income and loan-related fees over the life of those loans. Revenue is generated as borrowers repay principal along with finance charges (interest) and, where appli...
Enova International Earnings Call Summary
Earnings Call Date:Oct 22, 2026
(Q3-2026)
| Next Earnings Date:Feb 04, 2027
Earnings Call Sentiment Positive
The call was strongly positive, with record revenue, broad-based originations and portfolio growth, improving consolidated credit performance, substantial adjusted EPS growth, strong liquidity, successful funding execution and continued share repurchases. The company also provided positive fourth-quarter revenue and EPS guidance. Offsetting items included higher operating and marketing expense ratios, an increase in delinquencies, expected normalization of the consumer net revenue margin, moderation in consumer growth from current levels, and macroeconomic uncertainty.Positive Updates
Broad-Based Quarterly Growth
Third-quarter originations, receivables, revenue and adjusted EPS each grew 25% or more year over year. Consolidated originations reached $2.6 billion, up 31%, marking the 12th consecutive quarter of consolidated year-over-year originations growth of 20% or more.
Negative Updates
Higher Consolidated Delinquency Rate
The consolidated 30-plus-day delinquency rate increased sequentially to 8%, driven by typical consumer sequential seasonality and a 40 basis point sequential increase in the SMB 30-plus-day delinquency rate.
Read all updates
Q3-2026 Updates
Positive
Negative
Broad-Based Quarterly Growth
Third-quarter originations, receivables, revenue and adjusted EPS each grew 25% or more year over year. Consolidated originations reached $2.6 billion, up 31%, marking the 12th consecutive quarter of consolidated year-over-year originations growth of 20% or more.
Read all positive updates
Company Guidance
For the fourth quarter of 26, Enova expects total company revenue to be around 25% higher year over year, consolidated net revenue margin in the 55% to 60% range, marketing expenses around 20% of revenue, O&T costs around 8% to 8.5% of total revenue, G&A costs of 4.5% to 5% of total revenue excluding any onetime costs, and adjusted EPS 30% to 35% higher than the fourth quarter of 25; the SMB net revenue margin is expected to remain in the typical 6.07 thousand% range, while the consumer net revenue margin should continue to trend toward a more typical level of around 50%, and cost of funds is expected to be pretty stable as Enova moves forward.Enova International Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
48
Neutral
Cash Flow
82
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.01B | 3.15B | 2.66B | 2.12B | 1.74B | 1.21B |
| Gross Profit | 2.23B | 1.58B | 1.24B | 1.04B | 1.00B | 947.75M |
| EBITDA | 780.96M | 529.82M | 334.52M | 265.51M | 304.97M | 371.93M |
| Net Income | 355.45M | 308.39M | 209.45M | 175.12M | 207.42M | 256.30M |
Balance Sheet | ||||||
| Total Assets | 7.22B | 6.47B | 5.27B | 4.59B | 3.78B | 2.76B |
| Cash, Cash Equivalents and Short-Term Investments | 122.23M | 71.71M | 73.91M | 377.44M | 100.17M | 165.48M |
| Total Debt | 5.05B | 4.56B | 3.60B | 2.99B | 2.29B | 1.43B |
| Total Liabilities | 5.73B | 5.13B | 4.07B | 3.35B | 2.59B | 1.67B |
| Stockholders Equity | 1.50B | 1.34B | 1.20B | 1.24B | 1.19B | 1.09B |
Cash Flow | ||||||
| Free Cash Flow | 1.95B | 1.77B | 1.50B | 1.12B | 850.37M | 442.19M |
| Operating Cash Flow | 2.00B | 1.82B | 1.54B | 1.17B | 894.00M | 471.87M |
| Investing Cash Flow | -2.82B | -2.45B | -1.91B | -1.49B | -1.67B | -980.37M |
| Financing Cash Flow | 906.27M | 711.82M | 318.88M | 526.54M | 724.87M | 365.15M |
Enova International Technical Analysis
Neutral
243.39
Price Trends
204.67
Negative
213.13
Negative
183.31
Negative
Market Momentum
-5.65
Negative
44.65
Neutral
63.02
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ENVA, the sentiment is Neutral. The current price of 243.39 is above the 20-day moving average (MA) of 175.88, above the 50-day MA of 204.67, and above the 200-day MA of 183.31, indicating a neutral trend. The MACD of -5.65 indicates Negative momentum. The RSI at 44.65 is Neutral, neither overbought nor oversold. The STOCH value of 63.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ENVA.
Enova International Risk Analysis
Enova International disclosed 59 risk factors in its most recent earnings report. Enova International reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Enova International Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $4.02B | 8.35 | 17.04% | 0.85% | 0.85% | 117.85% | |
69 Neutral | $4.60B | 28.56 | 85.55% | ― | 43.06% | 53.71% | |
68 Neutral | $24.92B | 12.87 | 47.91% | ― | 32.43% | 3583.15% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $6.54B | 8.53 | 23.07% | 7.39% | 6.93% | 19.96% | |
65 Neutral | $4.48B | 12.60 | 25.76% | ― | 17.65% | 43.92% | |
55 Neutral | $2.30B | 38.08 | 7.85% | ― | 46.30% | ― |
* Financial Sector Average
ENVA
Enova International
180.05
66.02
57.90%
BFH
Bread Financial Holdings
108.63
43.91
67.84%
OMF
OneMain Holdings
56.83
4.35
8.30%
UPST
Upstart Holdings
23.66
-28.44
-54.59%
AFRM
Affirm Holdings
73.51
-2.03
-2.69%
SEZL
Sezzle Inc.
136.22
60.02
78.77%
Enova International Corporate Events
Business Operations and StrategyM&A Transactions
Enova International Ends Planned Grasshopper Bank Merger
Negative
Oct 16, 2026
Enova International, Inc. and Grasshopper Bancorp, Inc., the parent of Grasshopper Bank N.A., had previously entered into a merger agreement on December 10, 2025, amended on December 18, 2025, under which Grasshopper would have merged into Enova, ...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Enova International Amends Receivables-Backed Funding Agreement
Positive
Oct 13, 2026
On October 13, 2026, Enova’s subsidiary NetCredit Receivables 2022, LLC executed a fourth amendment to its Note Issuance and Purchase Agreement originally dated October 21, 2022, with Jefferies Funding LLC, Citibank, N.A., and other note pur...
Business Operations and StrategyPrivate Placements and Financing
Enova International Expands Funding via New Securitization Facility
Positive
Sep 25, 2026
On September 25, 2026, Enova subsidiary OnDeck Asset Securitization IV, LLC completed a $500,026,000 issuance of fixed-rate asset-backed notes in four classes, backed by a roughly $526 million revolving pool of small business loans purchased from ...
Business Operations and StrategyPrivate Placements and Financing
Enova amends securitization facility, extends revolving funding
Positive
Sep 17, 2026
On September 17, 2026, Enova’s indirect subsidiary HWC Receivables 2023, LLC amended its existing revolving receivables securitization facility with a syndicate of institutional counterparties, including Headway Capital as originator and Deu...
Business Operations and StrategyPrivate Placements and Financing
Enova International Plans $500M Small Business Loan Securitization
Positive
Sep 15, 2026
On September 9, 2026, Enova International announced that its indirect subsidiary OnDeck Asset Securitization IV, LLC plans a private securitization of $500,026,000 Series 2026-1 Fixed Rate Asset-Backed Notes backed by a revolving pool of small bus...
Business Operations and StrategyStock BuybackFinancial DisclosuresRegulatory Filings and Compliance
Enova Ends Bank Bid, Boosts Share Repurchase Plans
Positive
Sep 14, 2026
On September 14, 2026, Enova announced it had withdrawn its applications with U.S. bank regulators tied to its proposed acquisition of Grasshopper Bancorp, effectively shelving plans to become a bank. Chief executive Steve Cunningham cited unclear...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Enova Announces Major 2026 Small Business Loan Securitization
Positive
Sep 9, 2026
On September 9, 2026, Enova International, Inc. outlined a proposed private securitization of approximately $500,026,000 in Series 2026-1 fixed-rate asset-backed notes to be issued by its indirect subsidiary OnDeck Asset Securitization IV, LLC, ba...
Business Operations and StrategyPrivate Placements and Financing
Enova International Issues $301 Million Consumer Loan ABS Notes
Positive
Aug 21, 2026
On August 21, 2026, NetCredit Combined Receivables B, LLC, an indirect subsidiary of Enova International, issued $300.9 million of asset-backed notes secured by a $316.72 million pool of unsecured consumer installment loans. The deal, known as the...
Business Operations and StrategyPrivate Placements and Financing
Enova Expands NetCredit Funding Capacity and Lowers Costs
Positive
Aug 14, 2026
On August 14, 2026, Enova’s indirect subsidiary NetCredit LOC Receivables 2024, LLC amended its existing note issuance facility, increasing the revolving commitment from $200 million to $300 million, extending the revolving period to Februar...
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.