Latest Ratios: P/E Ratio 6.3x · EV/EBITDA 4.1x · ROE 9.7%. (2019–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $537M | $277M | $154M | $84M | $173M | $384M | $132M | — |
| Enterprise Value | $820M | $561M | $425M | $401M | $520M | $632M | $265M | — |
| P/E Ratio → | 6.30 | 10.57 | 21.28 | — | 40.67 | 9.46 | 1.71 | — |
| P/S Ratio | 0.90 | 0.46 | 0.29 | 0.16 | 0.38 | 1.09 | 0.45 | — |
| P/B Ratio | 0.54 | 0.90 | 0.66 | 0.43 | 1.09 | 2.43 | 1.33 | — |
| P/FCF | 1.40 | 0.73 | 0.50 | 0.29 | 0.75 | 2.51 | 0.73 | — |
| P/OCF | 1.34 | 0.69 | 0.48 | 0.28 | 0.71 | 2.29 | 0.69 | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.94 | 0.81 | 0.79 | 1.15 | 1.80 | 0.91 | — |
| EV / EBITDA | 4.13 | 2.83 | 4.08 | 6.79 | 71.85 | 9.36 | 3.14 | — |
| EV / EBIT | 4.24 | 2.87 | 1.42 | 1.44 | 2.25 | 7.01 | 2.73 | — |
| EV / FCF | — | 1.47 | 1.37 | 1.40 | 2.26 | 4.13 | 1.46 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 95.1% | 95.1% | 80.0% | 78.9% | 79.0% | 74.6% | 84.8% | 100.0% |
| Operating Margin | 32.4% | 32.4% | 18.0% | 9.1% | -1.4% | 16.3% | 26.6% | 30.8% |
| Net Profit Margin | 4.4% | 4.4% | 1.4% | -0.2% | 1.6% | 7.3% | 26.6% | 30.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | 9.7% | 9.7% | 3.4% | -0.6% | 4.5% | 19.9% | 113.3% | 88.1% |
| ROA | 3.8% | 3.8% | 1.2% | -0.2% | 1.3% | 6.5% | 27.1% | 11.5% |
| ROIC | 26.4% | 26.4% | 14.0% | 6.8% | -1.0% | 13.4% | 24.4% | — |
| ROCE | 30.9% | 30.9% | 16.7% | 8.6% | -1.3% | 16.7% | 30.2% | 12.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.08 | 1.08 | 1.42 | 1.80 | 2.28 | 1.74 | 1.59 | 5.98 |
| Debt / EBITDA | 1.68 | 1.68 | 3.19 | 5.91 | 50.23 | 4.06 | 1.88 | 6.01 |
| Net Debt / Equity | — | 0.92 | 1.16 | 1.64 | 2.18 | 1.58 | 1.33 | 5.53 |
| Net Debt / EBITDA | 1.43 | 1.43 | 2.60 | 5.37 | 47.99 | 3.69 | 1.57 | 5.56 |
| Debt / FCF | — | 0.74 | 0.87 | 1.11 | 1.51 | 1.63 | 0.73 | 1.46 |
| Interest Coverage | 4.97 | 4.97 | 1.64 | 5.94 | 6.57 | 658.71 | 5.02 | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 7.44 | 7.44 | 9.43 | 10.48 | 9.24 | 7.75 | 6.03 | 1.09 |
| Quick Ratio | 7.44 | 7.44 | 9.43 | 10.48 | 9.24 | 7.75 | 6.03 | 1.09 |
| Cash Ratio | 0.58 | 0.58 | 1.03 | 0.62 | 0.29 | 0.43 | 0.58 | 1.09 |
| Asset Turnover | — | 0.79 | 0.82 | 0.85 | 0.78 | 0.70 | 1.02 | 0.37 |
| Inventory Turnover | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 333.94 | 330.14 | 333.72 | 370.71 | 404.09 | 278.75 | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 39.2% | 23.4% | 1.5% | 12.2% | 0.8% | 13.3% | 11.9% | — |
| Payout Ratio | 246.5% | 246.5% | 32.7% | — | 18.4% | 199.7% | 20.4% | 28.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 15.9% | 9.5% | 4.7% | — | 2.5% | 10.6% | 58.6% | — |
| FCF Yield | 71.2% | 137.8% | 201.4% | 342.2% | 133.2% | 39.9% | 137.3% | — |
| Buyback Yield | 2.9% | 5.6% | 2.3% | 0.0% | 1.4% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 42.1% | 29.0% | 3.8% | 12.2% | 2.2% | 13.3% | 11.9% | — |
| Shares Outstanding | — | $27M | $20M | $16M | $84M | $84M | $13M | $13M |
Includes 30+ ratios · 7 years · Updated daily
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Quick answers to the most common questions about buying OPFI stock.
OppFi Inc.'s current P/E ratio is 6.3x. The historical average is 16.7x. This places it at the 20th percentile of its historical range.
OppFi Inc.'s current EV/EBITDA is 4.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.3x.
OppFi Inc.'s return on equity (ROE) is 9.7%. The historical average is 34.0%.
Based on historical data, OppFi Inc. is trading at a P/E of 6.3x. This is at the 20th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
OppFi Inc.'s current dividend yield is 39.25% with a payout ratio of 246.5%.
OppFi Inc. has 95.1% gross margin and 32.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
OppFi Inc.'s Debt/EBITDA ratio is 1.7x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Regulatory and credit risk
Metrics are mathematically derived from official filings.
Margin Distortions Mask True Earning Power
Reported gross margin spiked to 129.3% in 2025Q4 due to negative COGS, but normalized margins hover near 80%, per financial statements, highlighting the platform model's accounting quirks.
The 95% gross margin in 2026Q1 and the anomalous 129.3% in 2025Q4 reflect the platform accounting treatment that excludes credit provisions and funding costs. Operating margin of 28.3% in 2026Q2, down from 42.9% in 2026Q1, suggests that the true earning power is better captured by net interest margin after provision, which is not directly reported. The EPS miss of $0.18 versus $0.45 consensus in 2026Q2, per reported data, indicates that street expectations may have overestimated the sustainability of these margins.
ROIC Volatility Reflects Credit Cycle
ROIC swung from 0.8% in 2024Q1 to 8.3% in 2026Q1, then fell to 3.9% in 2026Q2, per reported figures, indicating high sensitivity to credit losses and revenue timing.
The 10-quarter ROIC trend shows a peak of 8.3% in 2026Q1 followed by a sharp decline to 3.9% in 2026Q2, which aligns with the revenue plunge and EPS miss. ROE similarly dropped from 8.7% to 3.9% in the same period, suggesting that the capital base expanded faster than earnings, partly due to the $338.6M equity raise. This volatility implies that the company is not yet compounding returns consistently, and the recent capital infusion may not yet be deployed efficiently.
Working Capital Efficiency Shows Mixed Signals
DSO remained elevated around 300-400 days across the last ten quarters, per reported data, reflecting the long-duration installment loan portfolio, while DPO turned negative in 2025Q4, indicating timing shifts.
The asset turnover ratio has been stable at 0.22, indicating that the loan portfolio is the primary asset and revenue generation is tied to its size. The negative DPO in 2025Q4 suggests that the company is paying suppliers faster than it collects, which may strain liquidity if sustained. The cash conversion cycle is not calculable due to missing DIO, but the high DSO is consistent with a subprime installment lender where loans are amortized over 12-24 months.
Deleveraging Eliminates Refinancing Risk
Total debt dropped from $315.6M in 2024Q1 to zero in 2026Q2, per financial statements, with D/E falling from 1.60 to nil, suggesting a strategic pivot to reduce balance sheet risk.
The elimination of debt in 2026Q2, following a $338.6M equity raise, has removed interest expense and refinancing risk, but it also reduces financial leverage that could amplify returns. Interest coverage was negative in 2025Q4 (-8.77) due to a net loss, but improved to 3.00 in 2026Q2, indicating that the company can now cover interest costs comfortably if debt were reintroduced. This deleveraging may be a response to regulatory uncertainty, but it also signals a more conservative capital structure that could limit growth.
Liquidity Buffer Strengthened by Cash Hoard
Current ratio surged to 57.15 in 2026Q2, per reported data, up from 1.14 in 2026Q1, driven by a $64.3M cash balance and zero debt, providing a substantial cushion against credit shocks.
The dramatic increase in the current ratio is primarily due to the equity raise and debt repayment, which inflated cash and reduced current liabilities. However, this liquidity is partly a function of the capital-light model, where the loan portfolio is not classified as a current asset, making the ratio less meaningful. The quick ratio equals the current ratio, indicating no inventory dependence, but the high DSO suggests that the loan portfolio is illiquid and could face valuation haircuts in a stress scenario.
Gross Margin Misleads in Lending Model
The 95% gross margin is commonly misapplied to OPFI, per reported figures, because it excludes credit provisions and funding costs, obscuring the true unit economics of subprime lending.
Investors may mistakenly compare OPFI's gross margin to software companies, but in a lending context, the cost of goods sold should include interest expense and loan loss provisions. The appropriate metric is net interest margin after provision (NIMAC), which is not disclosed but can be approximated by net income divided by average receivables. The reported operating margin of 28.3% in 2026Q2 is more indicative of earning power, but it still excludes the cost of capital. Analysts should adjust for the fair value accounting of the loan portfolio and warrant liabilities to assess sustainable profitability.