OneMain Holdings (OMF) AI Stock Analysis

Company Guidance

For full year 2026, OneMain now expects managed receivables to grow at the high end of its previous guidance range. To 9%, C&I net charge offs to come in at the higher end of its previous guidance range of 7.4% to 7.9%, and the OpEx ratio to be approximately 6.6%; consumer loan yields are expected to hold at current levels through year end, funding costs to remain at approximately this level through year end, and quarterly PBMC expenses to remain in the mid-$50 million range going forward. OneMain expects full year credit card net charge offs to land comfortably within its longer term target range of 15% to 17%, the overall reserve rate to reach 11.8% in the fourth quarter, and lower year on year losses in the fourth quarter and into 2027, with consumer loan losses getting closer to 7%, which is sort of the top end of that normalized range for next year, assuming a steady macro environment; personal loan cap gen ROR is expected to be in the 4% to 5% range, auto slightly lower, and cards eventually getting to a run rate where it is slightly higher than personal loan, while OneMain is looking at a 20% ROE across all of these products.