A Business at a Glance
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Unless the context otherwise requires, all references in this section to “OppFi” or the “Company” refers to Opportunity Financial, LLC (“OppFi-LLC”) and its subsidiaries prior to the consummation of the Business Combination, or to OppFi Inc. and its subsidiaries from and after the Business Combination. OppFi’s business and the industry in which OppFi operates is subject to a high degree of uncertainty and risk due to a variety of factors, including those described in the section titled “Risk Factors” and elsewhere in this report. These and other factors could cause results to differ materially from those expressed in the estimates made by the independent parties and by OppFi. On July 20, 2021 (“Closing Date”), OppFi completed a business combination pursuant to the Business Combination Agreement (“Business Combination Agreement”), dated as of February 9, 2021, by and among FG New America Acquisition Corp.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 376M | 321M | 273M | 217M | 264M | 200M |
| Net Income | 3.9M | 7.3M | -1.0M | 7.1M | 26M | 78M |
| EPS | $0.07 | $0.36 | $-0.06 | $0.05 | $0.48 | $0.00 |
| Free Cash Flow | 0 | 311M | 287M | 230M | 153M | 181M |
| ROIC | 1203.6% | 19.9% | -11.3% | 2.1% | 26.0% | 96.8% |
| Gross Margin | - | 81.2% | 77.8% | 72.4% | 75.3% | 77.9% |
| Debt/Equity | 0.00 | 9.73 | 31.86 | -697.75 | -27.83 | 0.06 |
| Dividends/Share | $0.00 | $0.03 | - | - | - | - |
| Operating Income | 160M | 95M | 46M | -6.3M | 57M | 78M |
| Operating Margin | 42.6% | 29.4% | 17.0% | -2.9% | 21.7% | 38.7% |
| ROE | 7.8% | 33.6% | -9.6% | - | - | 78.0% |
| Shares Outstanding | 28M | 86M | 86M | 142M | 53M | 110M |
| Metric | 2020 | 2021 | 2022 | |||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 200M | 264M | 217M | 273M | 321M | 376M |
| Gross Margin | 77.9% | 75.3% | 72.4% | 77.8% | 81.2% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | 78M | 57M | -6.3M | 46M | 95M | 160M |
| Op. Margin | 38.7% | 21.7% | -2.9% | 17.0% | 29.4% | 42.6% |
| Net Income | 78M | 26M | 7.1M | -1.0M | 7.3M | 3.9M |
| Net Margin | 38.7% | 9.7% | 3.3% | -0.4% | 2.3% | 1.0% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||||
| ROIC | 96.8% | 26.0% | 2.1% | -11.3% | 19.9% | N/M |
| ROE | 78.0% | N/A | N/A | -9.6% | 33.6% | 7.8% |
| ROA | 27.1% | 5.1% | 1.2% | -0.2% | 1.2% | 26.7% |
| Cash Flow | ||||||
| Op. Cash Flow | 192M | 167M | 243M | 296M | 324M | 379M |
| Free Cash Flow | 181M | 153M | 230M | 287M | 311M | 0 |
| Owner Earnings | 185M | 154M | 226M | 279M | 309M | 364M |
| CapEx | 11M | 14M | 13M | 9.0M | 13M | 0 |
| Maint. CapEx | 6.7M | 10M | 14M | 13M | 9.6M | 9.6M |
| Growth CapEx | 4.0M | 4.1M | 0 | 0 | 3.4M | 0 |
| D&A | 6.7M | 10M | 14M | 13M | 9.6M | 9.6M |
| CapEx/OCF | 5.6% | 8.6% | 5.4% | 3.0% | 4.0% | 0.0% |
| Capital Allocation | ||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 2.4M | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | 0.7% | N/A |
| Share Buybacks | 0 | 0 | 2.5M | 0 | 3.6M | 3.6M |
| Buyback Yield | N/A | N/A | 0.9% | N/A | 0.6% | 1.5% |
| Stock-Based Comp | 144K | 3.0M | 3.4M | 4.1M | 5.3M | 5.3M |
| Debt Repayment | 2.4M | 2.3M | 4.5M | 1.7M | 828K | 828K |
| Balance Sheet | ||||||
| Net Debt | -19M | 227M | 328M | 301M | 257M | -45M |
| Cash & Equiv. | N/A | N/A | N/A | N/A | N/A | 45M |
| Long-Term Debt | 6.4M | 252M | 345M | 333M | 319M | 319M |
| Debt/Equity | 0.06 | -27.83 | -697.75 | 31.86 | 9.73 | 0.00 |
| Interest Coverage | 0.4 | 0.2 | -0.0 | 0.2 | 0.3 | 0.3 |
| Equity | 99M | -9.0M | -494K | 10M | 33M | 49M |
| Total Assets | 286M | 502M | 580M | 602M | 641M | 15M |
| Total Liabilities | 187M | 344M | 421M | 408M | 407M | 443M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 92M | -71M | -64M | -64M | -55M | -55M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | 23M | 30M | 23M | 22M | 32M | 32M |
| Per Share Data | ||||||
| EPS | 0.00 | 0.48 | 0.05 | -0.06 | 0.36 | 0.07 |
| Owner EPS | 1.69 | 2.89 | 1.59 | 3.23 | 3.58 | 13.16 |
| Book Value | 0.91 | -0.17 | -0.00 | 0.12 | 0.38 | 1.79 |
| Cash Flow/Share | 1.75 | 3.14 | 1.71 | 3.43 | 3.75 | 0.49 |
| Dividends/Share | N/A | N/A | N/A | N/A | 0.03 | 0.00 |
| Shares Out. | 109.7M | 53.2M | 142.0M | 86.4M | 86.4M | 27.7M |
| Valuation | ||||||
| P/E Ratio | N/A | 8.8 | 37.9 | N/A | 20.6 | 121.0 |
| P/FCF | 5.7 | 1.5 | 1.2 | 1.4 | 2.1 | N/A |
| EV/EBIT | 13.1 | 7.9 | N/A | 15.3 | 9.5 | 1.2 |
| Price/Book | 10.4 | N/A | N/A | 39.3 | 19.6 | 4.7 |
| Price/Sales | 5.1 | 1.7 | 1.9 | 0.7 | 1.1 | 0.6 |
| FCF Yield | 17.5% | 68.1% | 85.5% | 70.0% | 48.5% | N/A |
| Market Cap | 1.0B | 225M | 269M | 410M | 641M | 234M |
| Avg. Price | 9.32 | 8.29 | 2.94 | 2.24 | 4.05 | 8.47 |
| Year-End Price | 9.46 | 4.22 | 1.90 | 4.75 | 7.42 | 8.47 |
OppFi Inc. passes 4 of 9 quality checks, suggesting mixed fundamentals.
OppFi Inc. trades at 23.5x trailing earnings, compared to its 15-year median P/E of 20.6x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 2.4x vs a median of 1.5x. The company's 5-year average ROIC is 26.7% with a gross margin of 76.9%. Total shareholder yield (dividends + buybacks) is 1.8%. At current prices, the estimated annualized return to fair value is +12.3%.
OppFi Inc. (OPFI) has a current P/E ratio of 23.5, compared to its historical median P/E of 20.6. The stock is currently considered Fair based on its historical valuation range.
OppFi Inc. (OPFI) has a 5-year average return on invested capital (ROIC) of 26.7%. This indicates strong capital allocation and a potential competitive advantage.
OppFi Inc. (OPFI) has a market capitalization of $234M. It is classified as a small-cap stock.
Yes, OppFi Inc. (OPFI) pays a dividend with a trailing twelve-month yield of 0.32%. The company also returns capital through share buybacks, with a buyback yield of 1.52%.
Based on historical P/E analysis, OppFi Inc. (OPFI) appears fair. The current P/E of 23.5 is 14% above its historical median of 20.6. The estimated fair value CAGR (P/E method) is 11.7%.
OppFi Inc. (OPFI) operates in the Finance Services industry, within the Financials sector.
OppFi Inc. (OPFI) reported annual revenue of $321 million in its most recent fiscal year, based on SEC EDGAR filings.
OppFi Inc. (OPFI) has a net profit margin of 2.3%. This is a modest margin.
OppFi Inc. (OPFI) generated $311 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
OppFi Inc. (OPFI) has a debt-to-equity ratio of 9.73. This indicates higher leverage, which may increase financial risk.
OppFi Inc. (OPFI) reported earnings per share (EPS) of $0.36 in its most recent fiscal year.
OppFi Inc. (OPFI) has a return on equity (ROE) of 33.6%. This indicates the company generates strong returns for shareholders.
OppFi Inc. (OPFI) has a 5-year average gross margin of 76.9%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 5 years of financial data for OppFi Inc. (OPFI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
OppFi Inc. (OPFI) has a book value per share of $0.38, based on its most recent annual SEC filing.