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Enova International
(NYSE:ENVA)
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Rating:68Neutral
Price Target:
$259.00
▲(6.41% Upside)
Action:Downgraded
Date:08/22/26
The overall score is driven primarily by solid underlying financial performance (notably strong free cash flow) and a constructive earnings outlook with raised guidance and improving credit metrics. Offsetting factors are elevated leverage and a mixed near-term technical picture following a pullback, while valuation appears reasonable but not clearly discounted.
Positive Factors
Sustained Lending Growth
Consistent growth in originations and receivables across consumer and small-business products demonstrates strong demand and expanding scale. The 11th consecutive quarter of 20%+ originations growth supports durable revenue potential if underwriting remains disciplined.
Negative Factors
Elevated Balance-Sheet Leverage
Materially higher leverage reduces financial flexibility and increases sensitivity to funding costs, credit losses and portfolio performance. While returns on equity are strong, a more leveraged structure can amplify downside during weaker lending or repayment conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Lending Growth
Consistent growth in originations and receivables across consumer and small-business products demonstrates strong demand and expanding scale. The 11th consecutive quarter of 20%+ originations growth supports durable revenue potential if underwriting remains disciplined.
Read all positive factors
Enova International (ENVA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.89B
Dividend YieldN/A
Average Volume (3M)436.44K
Price to Earnings (P/E)16.6
Beta (1Y)1.36
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. Volume393,726
30 Day Avg. Volume436,445
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$274.17Price Target Upside12.65% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)17.34
Revenue Forecast (FY)$3.87B
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 makes money primarily by originating and servicing loans and earning the economics associated with those receivables. Its core revenue is generated from finance charges and interest income on consumer loans (e.g., installment loans and other...
Enova International Earnings Call Summary
Earnings Call Date:Jul 23, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 22, 2026
Earnings Call Sentiment Positive
The call highlighted robust top-line growth, strong originations momentum across consumer and small business, materially improved profitability and consolidated credit metrics, and proactive balance sheet management. Offsetting items include elevated marketing spend (intentional to capture demand), some consumer portfolio absolute loss levels that remain elevated despite improvement, modest short-term variability in SMB delinquency, and regulatory timing risk related to the Grasshopper Bank acquisition. Management reiterated constructive guidance and expects significant synergies from the pending acquisition once approved.Positive Updates
Strong Originations Growth
Consolidated originations increased 27% year over year to nearly $2.3 billion, marking the 11th consecutive quarter of consolidated YoY originations growth of 20%+.
Negative Updates
Higher Marketing Spend
Marketing expense increased to 22% of revenue ($204 million) vs. 19% of revenue ($143 million) in Q2 2025; total operating expenses including marketing were 35% of revenue vs. 32% a year ago. Management expects marketing to normalize to ~20% of revenue in Q3.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Originations Growth
Consolidated originations increased 27% year over year to nearly $2.3 billion, marking the 11th consecutive quarter of consolidated YoY originations growth of 20%+.
Read all positive updates
Company Guidance
Enova raised its outlook, guiding third‑quarter revenue to be about +25% year‑over‑year with a net revenue margin of 55%–60%, marketing at ~20% of revenue, operations & technology ~8.0%–8.5% of revenue, G&A ~5% of revenue, and adjusted EPS roughly +30% versus Q3 2025; for full‑year 2026 management now expects revenue growth of 20%–25% and full‑year adjusted EPS growth of 30%–35% (guidance excludes any contribution from the pending Grasshopper acquisition and depends on demand, payment rates and originations mix). By way of context the company noted Q2 reference points—Q2 revenue $929M (+22% YoY) with a 61% net revenue margin, consolidated originations $2.3B (+27%), receivables $5.5B (+28%), consolidated net charge‑off 7.3%, liquidity ~$929M (cash & marketable securities $478M; available debt capacity $451M), and Q2 cost of funds 8.1%—and reiterated that Grasshopper synergies are expected to drive >25% adjusted‑EPS accretion once fully realized in the first two years post‑close.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
239.53
Negative
202.70
Positive
174.40
Positive
Market Momentum
0.83
Positive
43.51
Neutral
16.61
Positive
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 below the 20-day moving average (MA) of 253.26, above the 50-day MA of 239.53, and above the 200-day MA of 174.40, indicating a neutral trend. The MACD of 0.83 indicates Positive momentum. The RSI at 43.51 is Neutral, neither overbought nor oversold. The STOCH value of 16.61 is Positive, 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 |
|---|---|---|---|---|---|---|---|
75 Outperform | $25.61B | 67.38 | 11.17% | ― | 32.33% | ― | |
75 Outperform | $4.16B | 26.37 | 85.55% | ― | 43.06% | 53.71% | |
74 Outperform | $4.13B | 8.30 | 17.04% | 0.86% | 0.85% | 117.85% | |
68 Neutral | $5.89B | 16.61 | 25.76% | ― | 17.65% | 43.92% | |
68 Neutral | $2.97B | 49.02 | 7.85% | ― | 46.30% | ― | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $7.26B | 9.59 | 23.07% | 7.01% | 6.93% | 19.96% |
* Financial Sector Average
ENVA
Enova International
237.30
115.55
94.91%
BFH
Bread Financial Holdings
108.03
41.95
63.47%
OMF
OneMain Holdings
63.89
6.55
11.42%
UPST
Upstart Holdings
30.46
-43.30
-58.70%
AFRM
Affirm Holdings
77.49
-2.50
-3.13%
SEZL
Sezzle Inc.
125.80
29.99
31.30%
Enova International Corporate Events
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...
Business Operations and StrategyExecutive/Board ChangesM&A Transactions
Enova International Reshapes Board, Appoints New Director
Positive
Jul 10, 2026
On July 10, 2026, Enova International announced a planned transition in its Board of Directors, with longtime directors William M. Goodyear and Mark McGowan resigning, effective immediately, from the board and its audit committee. The company emph...
Business Operations and StrategyPrivate Placements and Financing
Enova Expands OnDeck Receivables Securitization Facility Commitment
Positive
Jun 25, 2026
On June 25, 2026, Enova subsidiary OnDeck Receivables 2022, LLC amended its existing revolving receivables securitization facility by executing Amendment No. 5 to its credit agreement with a lender group led by BMO Capital Markets Corp., with Enov...
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.