Track market-moving stories before they get noisy

5.69K Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

goeasy (OTCMKTS:EHMEF – Get Free Report) and OneMain (NYSE:OMF – Get Free Report) are both finance companies, but which is the better stock? We will contrast the two businesses based on the strength of their analyst recommendations, institutional ownership, profitability, valuation, dividends, earnings and risk.

Insider & Institutional Ownership 23.7% of goeasy shares are owned by institutional investors. Comparatively, 85.8% of OneMain shares are owned by institutional investors. 0.3% of OneMain shares are owned by company insiders. Strong institutional ownership is an indication that hedge funds, endowments and large money managers believe a stock is poised for long-term growth.

Profitability This table compares goeasy and OneMain’s net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets goeasy N/A N/A N/A OneMain 13.92% 23.49% 2.92% Analyst Recommendations This is a breakdown of current ratings and recommmendations for goeasy and OneMain, as reported by MarketBeat. Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score goeasy 1 3 0 0 1.75 OneMain 1 3 8 0 2.58 OneMain has a consensus target price of $68.40, suggesting a potential upside of 8.66%. Given OneMain’s stronger consensus rating and higher probable upside, analysts plainly believe OneMain is more favorable than goeasy.

Valuation & Earnings This table compares goeasy and OneMain”s revenue, earnings per share (EPS) and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio goeasy N/A N/A N/A $1.24 24.95 OneMain $5.46 billion 1.33 $783.00 million $6.64 9.48 OneMain has higher revenue and earnings than goeasy. OneMain is trading at a lower price-to-earnings ratio than goeasy, indicating that it is currently the more affordable of the two stocks.

Dividends goeasy pays an annual dividend of $0.26 per share and has a dividend yield of 0.8%. OneMain pays an annual dividend of $4.20 per share and has a dividend yield of 6.7%. goeasy pays out 20.5% of its earnings in the form of a dividend. OneMain pays out 63.3% of its earnings in the form of a dividend. Both companies have healthy payout ratios and should be able to cover their dividend payments with earnings for the next several years. OneMain has raised its dividend for 5 consecutive years. OneMain is clearly the better dividend stock, given its higher yield and longer track record of dividend growth.

Summary OneMain beats goeasy on 12 of the 14 factors compared between the two stocks.

About goeasy (Get Free Report)

goeasy Ltd. provides non-prime leasing and lending services under the easyhome, easyfinancial, and LendCare brands to consumers in Canada. The company operates through two segments, Easyfinancial and Easyhome. It offers unsecured and secured installment loans; home equity secured instalment loans and automotive vehicle financing; and loans to finance the purchase of retail goods, powersports and recreational vehicles, home improvement projects, and healthcare related products and services. The companyleases household furniture, appliances, electronics, and unsecured lending products to retail consumers. The company was formerly known as easyhome Ltd. and changed its name to goeasy Ltd. in September 2015. goeasy Ltd. was incorporated in 1990 and is headquartered in Mississauga, Canada.

About OneMain (Get Free Report)

OneMain Holdings, Inc., a financial service holding company, engages in the consumer finance and insurance businesses in the United States. It originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or unsecured. The company also offers credit cards; optional credit insurance products, including life, disability, and involuntary unemployment insurance; optional non-credit insurance; guaranteed asset protection coverage as a waiver product or insurance; and membership plans. It sells its products through its website. The company was formerly known as Springleaf Holdings, Inc. and changed its name to OneMain Holdings, Inc. in November 2015. OneMain Holdings, Inc. was founded in 1912 and is based in Evansville, Indiana.

Receive News & Ratings for goeasy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for goeasy and related companies with MarketBeat.com's FREE daily email newsletter.

A Look at OneMain Holdings Inc (OMF) After 3.9% Decline -- GF Value $58.07 vs Price $61.70 On August 20, 2026, OneMain Holdings Inc OMF shares fell 3.9% to a current price of $61.70. This decline is notable given the stock's 52-week range of $45.78 to $71.93. The recent price performance reflects a broader trend, with the stock down 5.5% over the past week and 3.6% year-to-date.

GF Value™ verdict: The current price is $61.70, compared to a GF Value™ of $58.07, indicating the stock is 6.3% overvalued. GF Score™: OMF has a score of 68/100, which places it in the "Above Average" category. Most notable signal: Insider activity shows that $7.9 million in stock has been sold by insiders over the past 12 months, with no buying activity reported.Is OMF Overvalued or Undervalued?According to GF Value™, OneMain Holdings Inc is currently overvalued, as its market price of $61.70 exceeds the estimated fair value of $58.07 by 6.3%. GF Value™ is GuruFocus' proprietary estimate of a stock's intrinsic value, which considers historical trading multiples, past business growth, and future performance expectations. This overvaluation suggests that investors may face risks if they enter at the current price level, as there could be limited upside potential if the valuation normalizes.

The GF Valuation label indicates that the stock is fairly valued based on its historical performance metrics; however, the current market price shows a discrepancy that could deter potential investors looking for a margin of safety. The overvaluation also raises questions about the sustainability of the current price levels, especially in light of recent insider selling activity, which might indicate a lack of confidence in the stock's future performance.

How Does OMF's Valuation Compare to Its History?Metric Current Historical P/E (TTM) 9.3x 8.4x Forward P/E 8.7x N/AOneMain Holdings Inc's current P/E ratio of 9.3x is 10% above its 5-year median of 8.4x, suggesting that the stock is trading at a premium relative to its historical valuation. This analysis aligns with the GF Value™ verdict, reinforcing the idea that the stock may be overvalued at its current price level.

What Does OMF's GF Score™ Tell Us?The GF Score™ is a composite score that provides insights into a company's financial strength, profitability, growth prospects, valuation, and momentum. OneMain Holdings Inc's GF Score™ of 68/100 indicates that it is performing above average compared to its peers. The strongest areas for OMF are its Growth Rank (7/10) and Valuation Rank (7/10), revealing potential for earnings growth and reasonable valuation metrics. Conversely, the weakest area is its Financial Strength Rank (1/10), which raises concerns about the company's financial stability.

Metric Rating GF Score™ 68/100 Financial Strength 1/10 Profitability 5/10 Growth 7/10 Valuation 7/10 Momentum 8/10Overall, OMF's scores indicate a mixed performance. While it shows promise in growth and valuation, the financial strength score suggests significant risks that investors should consider. The profitability rank of 5/10 indicates that while the company is generating profits, they may not be robust enough to support sustained dividend payouts or continued growth.

What Are Gurus and Insiders Doing with OMF?Currently, eight gurus hold shares of OneMain Holdings Inc, with four adding to their positions and four trimming their holdings in recent quarters. This mixed sentiment among institutional investors suggests a cautious approach to the stock. The fact that insiders have sold $7.9 million in shares over the past year, with no buying activity, raises concerns about their confidence in the company's future performance, which could signal potential weaknesses that investors should be aware of.

The insider selling pattern, combined with the mixed guru activity, points to a level of uncertainty surrounding OneMain's stock. Investors may want to take note of this trend as it could affect future stock performance and investor sentiment.

What This Means for InvestorsBased on the GF Value™ analysis, OneMain Holdings Inc appears to be overvalued at its current price of $61.70. While the stock has shown growth potential, the lack of insider buying and the overvaluation relative to GF Value™ indicate that investors should exercise caution. The company's financial strength concerns further complicate the investment landscape. For more in-depth information, you can visit the OneMain Holdings Inc OMF stock page for further insights into its performance and metrics.

Frequently Asked QuestionsWhat is OMF's GF Score™?

OMF has a GF Score™ of 68/100, indicating that it is performing above average compared to its peers.

Is OMF overvalued or undervalued?

OMF is overvalued, with a current price of $61.70 exceeding the GF Value™ of $58.07 by 6.3%.

What is OMF's P/E ratio?

OMF's P/E (TTM) is 9.3x, which is 10% above its 5-year median of 8.4x, indicating that the stock is trading at a premium compared to its historical valuation.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Disclosures I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

-

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to four classes of notes issued by OneMain Financial Issuance Trust 2026-2 (“OMFIT 2026-2”), an consumer loan ABS transaction.

OMFIT 2026-2 will issue four classes of notes totaling $750.0 million. The preliminary ratings reflect initial credit enhancement levels ranging from 32.75% for the Class A notes to 10.45% for the Class D notes. Credit enhancement is comprised of overcollateralization, subordination of junior note classes (except for the Class D notes), a cash reserve account and excess spread. This transaction represents the second consumer loan ABS securitization issued by OneMain Finance Corporation (“OneMain” or “OMFC”, or the “Company”), a wholly-owned subsidiary of OneMain Holdings, Inc. (“OMH”), in 2026 and the 33rd consumer loan transaction issued by OneMain or its subsidiaries since 2013. Since that time, OneMain and its subsidiaries have also issued 25 auto loan term securitizations. OMFIT 2026-2 includes a two year revolving period during which collections may be used to purchase new collateral so long as it meets the eligibility criteria and reinvestment criteria.

OneMain Holdings, Inc. (“OMH”) is a consumer finance company which offers loan products through a nationwide network of branches and through its online platform. OMH completed its acquisition of OneMain Financial Holdings, LLC on November 15, 2015 from CitiFinancial Credit Company for $4.49 billion in cash. OMH is now listed on the NYSE under the ticker symbol “OMF”.

KBRA applied its Consumer Loan ABS Global Rating Methodology, as well as its Global Structured Finance Counterparty Methodology as part of its analysis of the transaction’s underlying collateral pool and the capital structure using stressed cash flow assumptions. KBRA considered its operational review of OneMain, as well as periodic update calls with the Company. Operative agreements and legal opinions will be reviewed prior to closing.

To access ratings and relevant documents, click here.

Click here to view the report.

Methodologies

ABS: Consumer Loan ABS Global Rating Methodology Structured Finance: Global Structured Finance Counterparty Methodology Disclosures

Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.

A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA

Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan’s Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S.

Doc ID: 1016377

More News From Kroll Bond Rating Agency, LLC

Back to Newsroom

Get Paid While You Wait - OneMain's Juicy DividendsOneMain NYSE: OMF reported second-quarter 2026 results marked by receivables and originations growth, improving early-stage delinquency trends and continued investment in its auto finance, credit card and technology initiatives.

Chairman and Chief Executive Officer Doug Shulman said the company generated 10% year-over-year growth in originations, supporting managed receivables growth of 7%. He said OneMain maintained a conservative underwriting posture while expanding products and improving the customer experience.

Get OneMain alerts:

3 Still-Young Stocks Among 2021's Price Leaders “Credit performance was good and tracked in line with our expectations, and early delinquency trends continued to improve,” Shulman said.

Second-Quarter Results and Portfolio Growth OneMain reported GAAP net income of $152 million, or $1.32 per diluted share, compared with $1.40 per diluted share in the second quarter of 2025. C&I adjusted net income was $1.31 per diluted share, down from $1.45 a year earlier.

3 Undervalued Mid-caps with Good UpsideChief Financial Officer Jenny Osterhout said higher revenue during the quarter was offset by higher provisions for losses, primarily reflecting a larger reserve build tied to stronger receivables growth. Capital generation, the company’s principal management metric, rose 3% year over year to $229 million.

Managed receivables ended the quarter at $26.9 billion, up $1.6 billion, or 7%, from a year earlier. Quarterly originations totaled $4.3 billion, up 10% year over year. Total revenue increased 6% to $1.6 billion. Interest income rose 6% to $1.4 billion, while other revenue increased 6% to $207 million. Operating expenses rose 6% to $439 million, with the operating-expense ratio flat year over year at 6.7%. Consumer loan yield was 22.7%, up 16 basis points sequentially and 11 basis points from a year earlier. Osterhout said the company expects consumer loan yield to remain around recent levels, with typical seasonal moderation in the second half of the year.

Credit Trends Point to Lower Losses Management highlighted improving delinquency trends as a basis for its expectation that losses will decline in the second half of 2026 and continue improving in 2027.

Thirty- to 89-day delinquency, excluding Foresight, was 2.82% at June 30, down 7 basis points from a year earlier. The company said its 30-plus delinquency rate excluding Foresight declined 4 basis points year over year to 5.03%, while 90-plus delinquency was 3 basis points above the prior-year level, an improvement from the 14-basis-point year-over-year increase recorded in the first quarter.

Second-quarter C&I net charge-offs were 8.2%, down 21 basis points sequentially but 63 basis points above the prior-year quarter. Consumer loan net charge-offs, excluding credit cards, were 7.8%, down 25 basis points sequentially and up 58 basis points from a year earlier.

Osterhout said the year-over-year increase in consumer loan losses was expected and stemmed largely from elevated 90-plus delinquency in the prior quarter rolling through to losses. She said improving late-stage delinquency and early-stage trends provide confidence that losses will improve substantially in the back half of the year.

Recoveries totaled $117 million, or 1.9% of average net receivables. During the question-and-answer session, Osterhout said approximately 20% of recoveries came from loan sales, with the remainder generated through internal recovery efforts. She attributed the results to investments in collection capabilities, additional charged-off loan inventory and sales to partners when economics were attractive.

Loan loss reserves ended the quarter at $2.9 billion, or 11.6% of net receivables, compared with 11.5% in the prior quarter. Osterhout said the increase reflected portfolio mix, particularly the growing credit card business, which carries a reserve rate nearly twice that of the consumer loan portfolio. She said the overall reserve ratio could rise to around 11.7% in the second half.

Auto Finance and Credit Cards Continue to Expand OneMain surpassed 4 million customer accounts during the quarter, an increase of 14% from a year earlier. Shulman said account growth was aided by auto finance and credit cards, along with product innovation in personal lending.

Auto finance originations increased 19% from a year earlier, while auto finance receivables reached $3 billion, up 14%. Management said expansion of the dealer network, underwriting enhancements and partnerships supported growth, while credit performance remained in line with expectations and outperformed the broader industry.

The credit card business also expanded rapidly. Credit card receivables reached $161 million, while customer accounts rose to 1.3 million, up 155,000 sequentially and more than 400,000 from a year earlier. Osterhout said accounts increased 44% year over year and purchase volume increased 57%, supported by new rewards options and enhancements to the BrightWay card offering.

Credit card net charge-offs declined 186 basis points year over year to 17.7%, and 30-plus delinquencies fell 146 basis points. Shulman said marginal operating costs per account declined about 25% year over year as the business scaled.

In personal loans, OneMain cited progress with its enhanced debt-consolidation offering and newer home-fixture secured product. Shulman said the debt-consolidation initiative includes outbound marketing, streamlined offer creation and improved direct-payoff systems. The company said most debt-consolidation customers improve their credit scores, while the majority of these loans are secured and carry lower losses than the overall personal loan portfolio.

Funding, Capital Returns and Outlook During the quarter, OneMain issued a $1.1 billion three-year revolving asset-backed security at pricing of about 5.1%. The company ended the period with $7.5 billion in bank lines and net leverage of 5.5 times, within its targeted 4-times-to-6-times range.

OneMain repurchased 576,000 shares for $32 million in the second quarter. First-half repurchases totaled $137 million, including 2.5 million shares, more than three times the amount repurchased in the first half of 2025. The company’s annualized regular dividend was $4.20 per share.

Shulman said share repurchases would remain dependent on business capital needs, market conditions and other strategic opportunities. He said the company will first invest in loans that meet its 20% return-on-equity threshold and maintain its dividend before allocating remaining capital to buybacks or other uses.

The company reiterated its full-year 2026 guidance, including managed receivables growth of 6% to 9%, C&I net charge-offs of 7.4% to 7.9%, and an operating-expense ratio of approximately 6.6%.

Management said OneMain has not changed its underwriting standards despite the improved credit outlook. Shulman said the company continues to apply a 30% stress overlay introduced in 2022 and that its “weather vane” testing has not yet met the company’s 20% return-on-equity threshold for expanding its credit box.

About OneMain (NYSE:OMF)OneMain Financial NYSE: OMF is a leading consumer finance company specializing in unsecured personal loans for middle-income customers. The company offers tailored loan products designed to address a variety of needs, including debt consolidation, home improvement financing, large purchases and emergency expenses. Through a combination of branch-based service and digital channels, OneMain aims to deliver a personalized borrowing experience with flexible repayment options and transparent terms.

Tracing its roots back to the Commercial Credit Company founded in 1912, OneMain has evolved through a series of mergers and corporate transformations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

Should You Invest $1,000 in OneMain Right Now?Before you consider OneMain, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and OneMain wasn't on the list.

While OneMain currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The space race is growing fast, and you don’t have to have gotten in early on SpaceX to profit. This report shows seven space stocks you can buy today that may grow as rockets, satellites, defense, space internet, and new space technology become more important.

Get This Free Report

OneMain Holdings (OMF - Free Report) reported $1.09 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 6.8%. EPS of $1.31 for the same period compares to $1.45 a year ago.

The reported revenue represents a surprise of +2.17% over the Zacks Consensus Estimate of $1.07 billion. With the consensus EPS estimate being $1.31, the company has not delivered EPS surprise.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how OneMain performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Net charge-off ratio (Consumer and Insurance Segment): 7.8% versus the two-analyst average estimate of 8.3%.Net Interest Income: $1.09 billion versus $1.06 billion estimated by three analysts on average.Insurance: $112 million versus $113.1 million estimated by three analysts on average.Investment: $25 million versus the three-analyst average estimate of $25.57 million.Net interest income after provision for finance receivable losses: $481 million versus the three-analyst average estimate of $481.62 million.Total other revenues: $207 million versus the three-analyst average estimate of $201.39 million.Other income: $55 million versus the two-analyst average estimate of $62.5 million.View all Key Company Metrics for OneMain here>>>

Shares of OneMain have returned +2.1% over the past month versus the Zacks S&P 500 composite's +1.9% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

2Q 2026 Diluted EPS of $1.32 2Q 2026 C&I adjusted diluted EPS of $1.31 2Q 2026 Managed receivables of $26.9 billion Declared quarterly dividend of $1.05 per share , /PRNewswire/ -- OneMain Holdings, Inc. (NYSE: OMF), the leader in offering nonprime consumers responsible access to credit, today reported pretax income of $196 million and net income of $152 million for the second quarter of 2026, compared to $214 million and $167 million, respectively, in the prior year quarter. Earnings per diluted share were $1.32 in the second quarter of 2026, compared to $1.40 in the prior year quarter.

On July 29, 2026, OneMain declared a quarterly dividend of $1.05 per share, payable on August 14, 2026, to record holders of the Company's common stock as of the close of business on August 10, 2026.

During the quarter, the Company repurchased approximately 576 thousand shares of common stock for $32 million.

"We delivered another strong quarter with disciplined underwriting, continued innovation and strong execution across the business," said Doug Shulman, Chairman and CEO of OneMain. "Growth across all of our products, improving credit performance and our industry leading balance sheet position OneMain to deliver profitable growth and attractive returns going forward."

The following segment results are reported on a non-GAAP basis. Refer to the required reconciliations of non-GAAP to comparable GAAP measures at the end of this press release.

Consumer and Insurance Segment ("C&I")

C&I adjusted pretax income was $201 million and adjusted net income was $151 million for the second quarter of 2026, compared to $231 million and $173 million, respectively, in the prior year quarter. Adjusted earnings per diluted share were $1.31 for the second quarter of 2026, compared to $1.45 in the prior year quarter.

Management runs the business based on capital generation, which it defines as C&I adjusted net income excluding the after-tax change in C&I allowance for finance receivable losses while still considering the current period C&I net charge-offs. Capital generation was $229 million for the second quarter of 2026, compared to $222 million the prior year quarter. The increase was driven by receivable growth and yield improvement, partially offset by higher net charge-offs in the current quarter compared to the prior year period.

Managed receivables, which includes loans serviced for our whole loan sale partners and auto finance loans originated by third parties, were $26.9 billion at June 30, 2026, up 7% from $25.2 billion at June 30, 2025.

Consumer loan originations totaled $4.3 billion in the second quarter of 2026, up 10% from $3.9 billion in the prior year quarter.

Total revenue, comprising interest income and total other revenue, was $1.6 billion in the second quarter of 2026, up 6% from $1.5 billion in the prior year quarter. Interest income in the second quarter of 2026 was $1.4 billion, up 6% from $1.3 billion in the prior year quarter. The increase was driven by receivables growth and improved portfolio yield.

Interest expense was $326 million in the second quarter of 2026, up 3% from $317 million in the prior year quarter, due to an increase in average debt to support our receivables growth.

The provision for finance receivable losses was $610 million in the second quarter of 2026, up from $511 million compared to the prior year period. During the second quarter of 2026, the allowance for finance receivable losses increased $104 million driven by receivables growth.

C&I Select Delinquency and Loss Ratios

June 30, 2026

March 31, 2026

June 30, 2025

Consumer loans:

30+ delinquency ratio

5.17 %

5.37 %

5.17 %

90+ delinquency ratio

2.15 %

2.53 %

2.12 %

30-89 delinquency ratio

3.02 %

2.84 %

3.05 %

Net charge-offs

7.77 %

8.02 %

7.19 %

Operating expense for the second quarter of 2026 was $439 million, up 6% from $415 million in the prior year quarter reflecting receivable growth and strategic investments in the business.

Funding and Liquidity

As of June 30, 2026, the Company had principal debt balances outstanding of $23.1 billion, 52% of which was secured. The Company had $567 million of cash and cash equivalents, which included $171 million of cash and cash equivalents held at regulated insurance subsidiaries or for other operating activities that are unavailable for general corporate purposes.

Cash and cash equivalents, together with the Company's $1.0 billion of undrawn committed capacity from an unsecured corporate revolver, $6.5 billion of undrawn committed capacity under revolving conduit facilities and credit card variable funding note facilities, and $11.6 billion of unencumbered receivables, provides significant liquidity resources.

Conference Call & Webcast Information

OneMain management will host a conference call and webcast to discuss the Company's results, outlook, and related matters at 9:00 am Eastern Time on Wednesday, July 29, 2026. Both the call and webcast are open to the general public. The general public is invited to listen to the call by dialing 877-407-0792 (U.S. domestic) or 201-689-8263 (international), and using conference ID 13761044, or via a live audio webcast through OneMain's investor relations website at http://investor.onemainfinancial.com. For those unable to listen to the live broadcast, a replay will be available on the website after the event. An investor presentation will be available on OneMain's investor relations website prior to the start of the conference call.

About OneMain Holdings, Inc.

OneMain Financial (NYSE: OMF) is the leader in offering nonprime consumers responsible access to credit and is dedicated to improving the financial well-being of hardworking Americans. We empower our customers to solve today's problems and reach a better financial future through personalized solutions across 48 states, available online and in more than 1,300 locations. OneMain is committed to making a positive impact on the people and the communities we serve. For additional information, please visit www.OneMainFinancial.com. 

Use of Non-GAAP Financial Measures

We report the operating results of Consumer and Insurance using the Segment Accounting Basis, which (i) reflects our allocation methodologies for interest expense and operating costs, to reflect the manner in which we assess our business results and (ii) excludes the impact of applying purchase accounting (eliminates premiums/discounts on our finance receivables and long-term debt at acquisition, as well as the amortization/accretion in future periods). Consumer and Insurance adjusted pretax income (loss), Consumer and Insurance adjusted net income (loss), and Consumer and Insurance adjusted earnings (loss) per diluted share are key performance measures used to evaluate the performance of our business. Consumer and Insurance adjusted pretax income (loss) represents income (loss) before income taxes on a Segment Accounting Basis and excludes net loss resulting from repurchases and repayments of debt, restructuring charges, and other items and strategic activities. We believe these non-GAAP financial measures are useful in assessing the profitability of our segment.

We also use pretax capital generation and capital generation, non-GAAP financial measures, as a key performance measure of our segment. Pretax capital generation represents Consumer and Insurance adjusted pretax income, as discussed above, and excludes the change in our Consumer and Insurance allowance for finance receivable losses in the period while still considering the Consumer and Insurance net charge-offs incurred during the period. Capital generation represents the after-tax effect of pretax capital generation. We believe that these non-GAAP measures are useful in assessing the capital created in the period impacting the overall capital adequacy of the Company. We believe that the Company's reserves, combined with its equity, represent the Company's loss absorption capacity. 

We utilize these non-GAAP measures in evaluating our performance. Additionally, these non-GAAP measures are consistent with the performance goals established in OMH's executive compensation program. These non-GAAP financial measures should be considered supplemental to, but not as a substitute for or superior to, income (loss) before income taxes, net income, or other measures of financial performance prepared in accordance with GAAP.

This document contains summarized information concerning the Company and its business, operations, financial performance and trends. No representation is made that the information in this document is complete. For additional financial, statistical and business related information see the Company's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission (the "SEC"), as well as the Company's other reports filed with the SEC from time to time, which are or will be available in the Investor Relations section of the OneMain Financial website (www.omf.com) and the SEC's website (www.sec.gov). 

Cautionary Note Regarding Forward-Looking Statements

This document contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements preceded by, followed by or that otherwise include the words "anticipates," "appears," "assumes," "believes," "can," "continues," "could," "estimates," "expects," "forecasts," "foresees," "goal," "intends," "likely," "objective," "plans," "projects," "target," "trend," "remains," and similar expressions or future or conditional verbs such as "could," "may," "might," "should," "will" or "would" are intended to identify forward-looking statements, but these words are not the exclusive means of identifying forward-looking statements.

Forward-looking statements are not statements of historical fact but instead represent only management's current beliefs regarding future events, objectives, goals, projections, strategies, performance, and future plans, and underlying assumptions and other statements related thereto. You should not place undue reliance on these forward-looking statements. By their nature, forward-looking statements are subject to risks, uncertainties, assumptions and other important factors that may cause actual results, performance or achievements to differ materially from those expressed in or implied by such forward-looking statements. Important factors that could cause actual results, performance, or achievements to differ materially from those expressed in or implied by forward-looking statements include, without limitation, the following: adverse changes and volatility in general economic conditions, including the interest rate environment and the financial markets; the sufficiency of our allowance for finance receivable losses; increased levels of unemployment and personal bankruptcies; the current inflationary environment and related trends affecting our customers; natural or accidental events such as earthquakes, hurricanes, pandemics, floods or wildfires affecting our customers, collateral, or our facilities; a failure in or breach of our information, operational or security systems or infrastructure or those of third parties, including as a result of cyber incidents, war or other disruptions; the adequacy of our credit risk scoring models; geopolitical risks, including recent geopolitical actions; adverse changes in our ability to attract and retain employees or key executives; increased competition or adverse changes in customer responsiveness to our distribution channels or products; changes in federal, state, or local laws, regulations, or regulatory policies and practices or increased regulatory scrutiny of our business or industry; risks associated with our insurance operations; the costs and effects of any actual or alleged violations of any federal, state, or local laws, rules or regulations; the costs and effects of any fines, penalties, judgments, decrees, orders, inquiries, investigations, subpoenas, or enforcement or other proceedings of any governmental or quasi-governmental agency or authority; our substantial indebtedness and our continued ability to access the capital markets and maintain adequate current sources of funds to satisfy our cash flow requirements; our ability to comply with all of our covenants; the effects of any downgrade of our debt ratings by credit rating agencies; and other risks and uncertainties described in the "Risk Factors" and "Management's Discussion and Analysis" sections of the Company's most recent Form 10-K filed with the SEC and in the Company's other filings with the SEC from time to time.

If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, our actual results may vary materially from what we may have expressed or implied by these forward-looking statements. You should specifically consider the factors identified in this document that could cause actual results to differ before making an investment decision to purchase our securities. Furthermore, new risks and uncertainties arise from time to time, and it is impossible for us to predict those events or how they may affect us.

Forward looking statements included in this document speak only as of the date on which they were made. We undertake no obligation to update or revise any forward-looking statements, whether written or oral, to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events or the non-occurrence of anticipated events, whether as a result of new information, future developments or otherwise, except as required by law.

OneMain Holdings, Inc.

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

Quarter Ended

Fiscal Year

(unaudited, $ in millions, except per share amounts)

Jun 30,
2026

Mar 31,
2026

Dec 31,
2025

Sep 30,
2025

Jun 30,
2025

2025

2024

Interest income

$     1,417

$     1,387

$     1,416

$     1,392

$     1,339

$     5,455

$     4,993

Interest expense

(326)

(322)

(323)

(320)

(317)

(1,272)

(1,185)

Net interest income

1,091

1,065

1,093

1,072

1,022

4,183

3,808

Provision for finance receivable losses

(610)

(465)

(542)

(488)

(511)

(1,997)

(2,040)

Net interest income after provision for finance receivable losses

481

600

551

584

511

2,186

1,768

Insurance

112

112

113

112

111

445

445

Investment

25

23

22

26

24

98

108

Gain on sales of finance receivables

16

16

14

17

17

64

23

Net loss on repurchases and repayments of debt

(1)

(3)

(1)

(39)

(21)

(67)

(34)

Other

55

49

45

47

45

180

153

Total other revenues

207

197

193

163

176

720

695

Operating expenses

(448)

(449)

(447)

(436)

(419)

(1,707)

(1,607)

Insurance policy benefits and claims

(44)

(52)

(48)

(48)

(54)

(198)

(189)

Total other expenses

(492)

(501)

(495)

(484)

(473)

(1,905)

(1,796)

Income before income taxes

196

296

249

263

214

1,001

667

Income taxes

(44)

(70)

(45)

(64)

(47)

(218)

(158)

Net income

$        152

$        226

$        204

$        199

$        167

$        783

$        509

Weighted average number of diluted shares

115.8

117.3

118.3

119.4

119.4

119.3

120.1

Diluted EPS

$       1.32

$       1.93

$       1.72

$       1.67

$       1.40

$       6.56

$       4.24

Book value per basic share

$     29.40

$     29.21

$     29.01

$     28.53

$     27.99

$     29.01

$     26.74

Return on assets

2.3 %

3.4 %

3.0 %

3.0 %

2.5 %

2.9 %

2.0 %

Change in allowance for finance receivable losses

$       (104)

$          46

$         (50)

$         (61)

$         (66)

$       (160)

$      (194)

Net charge-offs

(506)

(511)

(492)

(427)

(445)

(1,837)

(1,846)

Provision for finance receivable losses

$       (610)

$       (465)

$       (542)

$       (488)

$       (511)

$    (1,997)

$   (2,040)

Note:

Quarters may not sum to fiscal year due to rounding.

OneMain Holdings, Inc.

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

As of

(unaudited, $ in millions)

Jun 30,
2026

Mar 31,
2026

Dec 31,
2025

Sep 30,
2025

Jun 30,
2025

Assets

Cash and cash equivalents

$       567

$       834

$       914

$       658

$       769

Investment securities

1,649

1,614

1,590

1,657

1,683

Net finance receivables

25,145

24,447

24,833

24,465

23,870

Unearned insurance premium and claim reserves

(792)

(771)

(791)

(783)

(764)

Allowance for finance receivable losses

(2,923)

(2,819)

(2,865)

(2,815)

(2,754)

Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance
receivable losses

21,430

20,857

21,177

20,867

20,352

Restricted cash and restricted cash equivalents

738

728

699

748

742

Goodwill

1,474

1,474

1,474

1,474

1,474

Other intangible assets

279

281

282

284

285

Other assets

1,287

1,230

1,252

1,297

1,323

Total assets

$   27,424

$   27,018

$   27,388

$   26,985

$   26,628

Liabilities and Shareholders' Equity

Long-term debt

$   22,769

$   22,396

$   22,694

$   22,338

$   22,053

Insurance claims and policyholder liabilities

552

566

576

578

579

Deferred and accrued taxes

16

55

35

42

18

Other liabilities

704

624

682

649

652

Total liabilities

24,041

23,641

23,987

23,607

23,302

Common stock

1

1

1

1

1

Additional paid-in capital

1,758

1,750

1,757

1,750

1,745

Accumulated other comprehensive loss

(54)

(53)

(41)

(47)

(51)

Retained earnings

2,710

2,680

2,579

2,500

2,425

Treasury stock

(1,032)

(1,001)

(895)

(826)

(794)

Total shareholders' equity

3,383

3,377

3,401

3,378

3,326

Total liabilities and shareholders' equity

$   27,424

$   27,018

$   27,388

$   26,985

$   26,628

OneMain Holdings, Inc.

CONSOLIDATED KEY FINANCIAL METRICS (UNAUDITED)

As of

(unaudited, $ in millions)

Jun 30,
2026

Mar 31,
2026

Dec 31,
2025

Sep 30,
2025

Jun 30,
2025

Liquidity

Cash and cash equivalents

$       567

$       834

$       914

$       658

$       769

Cash and cash equivalents unavailable for general corporate purposes

171

155

176

251

185

Unencumbered receivables

11,625

11,409

11,837

10,867

9,709

Undrawn conduit facilities

5,799

5,874

5,999

5,999

5,999

Undrawn corporate revolver

1,025

1,100

1,075

1,075

1,125

Undrawn credit card revolving variable funding note facilities

700

500

400

400

400

Drawn conduit facilities

1

1

1

1

1

Net adjusted debt

$   22,200

$   21,545

$   21,783

$   21,758

$   21,297

Total Shareholders' equity

$     3,383

$     3,377

$     3,401

$     3,378

$     3,326

Accumulated other comprehensive loss

54

53

41

47

51

Goodwill

(1,474)

(1,474)

(1,474)

(1,474)

(1,474)

Other intangible assets

(279)

(281)

(282)

(284)

(285)

Junior subordinated debt

173

173

173

172

172

Adjusted tangible common equity

1,857

1,848

1,859

1,839

1,790

Allowance for finance receivable losses, net of tax *

2,192

2,114

2,149

2,111

2,065

Adjusted capital

$     4,049

$     3,962

$     4,008

$     3,950

$     3,855

Net leverage (net adjusted debt to adjusted capital)

5.5x

5.4x

5.4x

5.5x

5.5x

*

Income taxes assume a 25% tax rate.

OneMain Holdings, Inc.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (UNAUDITED)

Quarter Ended

Fiscal Year

(unaudited, $ in millions)

Jun 30,
2026

Mar 31,
2026

Dec 31,
2025

Sep 30,
2025

Jun 30,
2025

2025

2024

Consumer & Insurance

$        194

$        293

$       247

$        261

$        211

$        988

$        707

Other

(1)

—

—

(2)

(1)

(4)

(1)

Segment to GAAP adjustment

3

3

2

4

4

17

(39)

Income before income taxes - GAAP basis

$        196

$        296

$       249

$        263

$        214

$     1,001

$        667

Consumer & Insurance pretax income

$        194

$        293

$       247

$        261

$        211

$        988

$        707

Net loss on repurchases and repayments of debt

1

3

—

39

20

65

33

Restructuring charges

5

7

1

2

—

4

29

Other (1)

1

2

2

1

—

— %

3

13

Consumer & Insurance adjusted pretax income (non-GAAP)

$        201

$        305

$       250

$        303

$        231

$     1,060

$        782

Reconciling items (2)

$          (4)

$           (9)

$          (1)

$        (38)

$        (16)

$         (55)

$       (114)

Consumer & Insurance

$   25,157

$   24,463

$   24,853

$   24,490

$   23,901

$   24,853

$   23,598

Segment to GAAP adjustment

(12)

(16)

(20)

(25)

(31)

(20)

(44)

Net finance receivables - GAAP basis

$   25,145

$   24,447

$   24,833

$   24,465

$   23,870

$   24,833

$   23,554

Consumer & Insurance

$     2,925

$     2,821

$     2,868

$     2,818

$     2,758

$     2,868

$     2,710

Segment to GAAP adjustment

(2)

(2)

(3)

(3)

(4)

(3)

(5)

Allowance for finance receivable losses - GAAP basis

$     2,923

$     2,819

$     2,865

$     2,815

$     2,754

$     2,865

$     2,705

Note:

Quarters may not sum to fiscal year due to rounding.

(1)

Includes strategic activities and other items.

(2)

Reconciling items consist of Segment to GAAP adjustment and the adjustments to Pretax income – segment accounting basis for C&I and Other. The adjustments to Other adjusted pretax income (loss) are not disclosed in the table above due to immateriality.

OneMain Holdings, Inc.

CONSUMER & INSURANCE SEGMENT (UNAUDITED) (Non-GAAP)

Quarter Ended

Fiscal Year

(unaudited, in millions, except per share amounts)

Jun 30,
2026

Mar 31,
2026

Dec 31,
2025

Sep 30,
2025

Jun 30,
2025

2025

2024

Interest income

$     1,413

$     1,383

$     1,411

$     1,386

$     1,333

$     5,432

$     4,965

Interest expense

(326)

(322)

(323)

(320)

(317)

(1,270)

(1,181)

Net interest income

1,087

1,061

1,088

1,066

1,016

4,162

3,784

Provision for finance receivable losses

(610)

(465)

(542)

(488)

(511)

(1,999)

(1,981)

Net interest income after provision for finance receivable losses

477

596

546

578

505

2,163

1,803

Insurance

112

112

113

112

111

445

445

Investment

25

23

22

26

24

98

108

Gain on sales of finance receivables

16

16

14

17

17

64

23

Other

54

47

46

45

43

175

146

Total other revenues

207

198

195

200

195

782

722

Operating expenses

(439)

(437)

(443)

(427)

(415)

(1,687)

(1,554)

Insurance policy benefits and claims

(44)

(52)

(48)

(48)

(54)

(198)

(189)

Total other expenses

(483)

(489)

(491)

(475)

(469)

(1,885)

(1,743)

Adjusted pretax income (non-GAAP)

201

305

250

303

231

1,060

782

Income taxes *

(50)

(76)

(62)

(76)

(58)

(265)

(195)

Adjusted net income (non-GAAP)

$      151

$      229

$      188

$      227

$      173

$      795

$      587

Weighted average number of diluted shares

115.8

117.3

118.3

119.4

119.4

119.3

120.1

C&I adjusted diluted EPS

$      1.31

$      1.95

$      1.59

$      1.90

$      1.45

$      6.66

$      4.89

Note:

Quarters may not sum to fiscal year due to rounding.

*

Income taxes assume a 25% tax rate.

OneMain Holdings, Inc.

CONSUMER & INSURANCE SEGMENT METRICS (UNAUDITED)

Quarter Ended

Fiscal Year

(unaudited, $ in millions)

Jun 30,
2026

Mar 31,
2026

Dec 31,
2025

Sep 30,
2025

Jun 30,
2025

2025

2024

Net finance receivables - personal loans

$   21,329

$   20,918

$   21,430

$   21,225

$   20,814

$   21,430

$   20,833

Net finance receivables - auto finance

2,684

2,562

2,487

2,431

2,335

2,487

2,122

Net finance receivables - consumer loans

24,013

23,480

23,917

23,656

23,149

23,917

22,955

Net finance receivables - credit cards

1,144

983

936

834

752

936

643

Net finance receivables

$   25,157

$   24,463

$   24,853

$   24,490

$   23,901

$   24,853

$   23,598

Allowance for finance receivable losses

$     2,925

$     2,821

$     2,868

$     2,818

$     2,758

$     2,868

$     2,710

Allowance ratio

11.63 %

11.53 %

11.54 %

11.51 %

11.54 %

11.54 %

11.48 %

Net finance receivables

25,157

24,463

24,853

24,490

23,901

24,853

23,598

Finance receivables serviced for others

1,702

1,588

1,458

1,395

1,316

1,458

1,141

Managed receivables

$   26,859

$   26,051

$   26,311

$   25,885

$   25,217

$   26,311

$   24,739

Average net finance receivables - personal loans

$   21,063

$   21,168

$   21,404

$   21,045

$   20,637

$   20,937

$   20,301

Average net finance receivables - auto finance

2,621

2,515

2,462

2,390

2,278

2,324

1,662

Average net finance receivables - consumer loans

23,684

23,683

23,866

23,435

22,915

23,261

21,963

Average net finance receivables - credit cards

1,065

962

879

803

719

767

477

Average net receivables

24,749

24,645

24,745

24,238

23,634

24,028

22,440

Average receivables serviced for others

1,657

1,540

1,434

1,366

1,285

1,320

1,113

Average managed receivables

$   26,406

$   26,185

$   26,179

$   25,604

$   24,919

$   25,348

$   23,553

Note:

Consumer & Insurance financial information is presented on an adjusted Segment Accounting Basis. Amounts may not sum due to rounding.

OneMain Holdings, Inc.

CONSUMER & INSURANCE KEY METRICS (UNAUDITED) (Non-GAAP)

Quarter Ended

Fiscal Year

(unaudited, in millions)

Jun 30,
2026

Mar 31,
2026

Dec 31,
2025

Sep 30,
2025

Jun 30,
2025

2025

2024

Adjusted pretax income (non-GAAP)

$        201

$        305

$        250

$        303

$        231

$    1,060

$       782

Provision for finance receivable losses

610

465

542

488

511

1,999

1,981

Net charge-offs

(506)

(512)

(492)

(428)

(446)

(1,841)

(1,849)

Change in C&I allowance for finance receivable losses (non-GAAP)

104

(47)

50

60

65

158

132

Pretax capital generation (non-GAAP)

305

258

300

363

296

1,218

914

Capital generation, net of tax* (non-GAAP)

$        229

$         194

$        225

$        272

$        222

$       913

$       685

C&I average net receivables

$   24,749

$    24,645

$   24,745

$   24,238

$   23,634

$  24,028

$  22,440

Capital generation return on receivables  (non-GAAP)

3.7 %

3.2 %

3.6 %

4.5 %

3.8 %

3.8 %

3.1 %

Note:

Consumer & Insurance financial information is presented on an adjusted Segment Accounting Basis. Amounts may not sum to fiscal year due to rounding.

*

Income taxes assume a 25% rate.

OneMain Holdings, Inc.

CONSUMER & INSURANCE CONSUMER LOANS METRICS (UNAUDITED)

Quarter Ended

Fiscal Year

(unaudited, $ in millions)

Jun 30,
2026

Mar 31,
2026

Dec 31,
2025

Sep 30,
2025

Jun 30,
2025

2025

2024

Gross charge-offs

$        572

$        567

$        540

$        480

$        496

$     2,043

$     2,080

Recoveries

(113)

(98)

(86)

(86)

(85)

(342)

(307)

Net charge-offs

$        459

$        469

$        454

$        394

$        411

$     1,701

$     1,773

Gross charge-off ratio

9.70 %

9.70 %

8.98 %

8.13 %

8.68 %

8.78 %

9.34 %

Recovery ratio

(1.92 %)

(1.68 %)

(1.42 %)

(1.45 %)

(1.49 %)

(1.47 %)

(1.39 %)

Net charge-off ratio

7.77 %

8.02 %

7.56 %

6.67 %

7.19 %

7.31 %

7.94 %

Average net receivables

$   23,684

$   23,683

$   23,866

$   23,435

$   22,915

$   23,261

$   21,963

Yield

22.7 %

22.5 %

22.5 %

22.6 %

22.6 %

22.5 %

22.1 %

Origination volume

$     4,316

$     3,104

$     3,609

$     3,889

$     3,907

$   14,427

$   13,321

30+ delinquency

$     1,241

$     1,260

$     1,399

$     1,312

$     1,197

$     1,399

$     1,322

90+ delinquency

$        516

$        594

$        596

$        556

$        491

$        596

$        579

30-89 delinquency

$        725

$        666

$        803

$        756

$        706

$        803

$        743

30+ delinquency ratio

5.17 %

5.37 %

5.85 %

5.55 %

5.17 %

5.85 %

5.76 %

90+ delinquency ratio

2.15 %

2.53 %

2.49 %

2.35 %

2.12 %

2.49 %

2.52 %

30-89 delinquency ratio

3.02 %

2.84 %

3.36 %

3.20 %

3.05 %

3.36 %

3.24 %

Note:

Consumer & Insurance financial information is presented on a Segment Accounting Basis. Delinquency ratios are calculated as a percentage of C&I consumer loan net finance receivables. Amounts may not sum due to rounding.

Defined Terms

Adjusted capital: adjusted tangible common equity plus allowance for finance receivable losses (ALLL), net of tax Adjusted tangible common equity (TCE): total shareholders' equity less accumulated other comprehensive loss less goodwill less other intangible assets plus junior subordinated debt Auto finance: financing at the point of purchase through a network of auto dealerships Available cash and cash equivalents: cash and cash equivalents less cash and cash equivalents held at our regulated insurance subsidiaries or is unavailable for general corporate purposes Average total assets: average of monthly average total assets (total assets at the beginning and end of each month divided by two) in the period C&I adjusted diluted EPS: C&I adjusted net income (non-GAAP) / weighted average diluted shares Capital generation: C&I adjusted net income less change in C&I allowance for finance receivable losses, net of tax Capital generation return on receivables*: annualized capital generation / C&I average net receivables Consumer loans: personal loans and auto finance Finance receivables serviced for others: unpaid principal balance plus accrued interest of loans sold as part of our whole loan sale program plus auto finance loans originated by third parties. Gross charge-off ratio*: annualized gross charge-offs / average net receivables Managed receivables: C&I net finance receivables plus finance receivables serviced for our whole loan sale partners plus auto finance loans originated by third parties Net adjusted debt: long-term debt less junior subordinated debt less available cash and cash equivalents Net charge-off ratio*: annualized net charge-offs / average net receivables Net leverage: net adjusted debt / adjusted capital Opex ratio: annualized C&I operating expenses / average managed receivables Origination volume: loans originated during the period, including those originated and sold to our whole loan sale partners that we continue to service Other net revenue: other revenues less insurance policy benefits and claims expense Personal loans: loans secured by automobiles, other collateral or are unsecured and offered through our branch network, central operations, or digital platform Pretax capital generation: C&I pretax adjusted net income less change in C&I allowance for finance receivable losses Purchase volume: credit card purchase transactions plus cash advances less returns Return on assets (ROA): annualized net income / average total assets Return on receivables (C&I ROR): annualized C&I adjusted net income / C&I average net receivables Total revenue: C&I interest income plus C&I total other revenue Unencumbered receivables: unencumbered unpaid principal balance of consumer loans and credit cards. For precompute personal loans, unpaid principal balance is the gross contractual payments less the unaccreted balance of unearned finance charges. Credit card receivables include those in the trust that exceed the minimum for securing advances under credit card variable funding note facilities, which the Company can remove from the trust under the terms of such facilities, and exclude interest, fees, and closed accounts with balances *

Fiscal year 2024 adjusted for policy alignment associated with the Foursight acquisition.

OneMain Holdings, Inc.

Investor Contact:
Peter R. Poillon, 212-359-2432
[email protected] 

Media Contact:
Kelly Ogburn, 410-537-9028
[email protected] 

Source: OneMain Holdings, Inc.

SOURCE OneMain Holdings, Inc.

The market expects OneMain Holdings (OMF - Free Report) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 29. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis consumer finance company is expected to post quarterly earnings of $1.31 per share in its upcoming report, which represents a year-over-year change of -9.7%.

Revenues are expected to be $1.07 billion, up 4.5% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.7% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for OneMain?For OneMain, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.

On the other hand, the stock currently carries a Zacks Rank of #4.

So, this combination makes it difficult to conclusively predict that OneMain will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that OneMain would post earnings of $1.92 per share when it actually produced earnings of $1.95, delivering a surprise of +1.56%.

Over the last four quarters, the company has beaten consensus EPS estimates four times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

OneMain doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

, /PRNewswire/ -- OneMain Holdings, Inc. (NYSE: OMF), the leader in offering nonprime consumers responsible access to credit, plans to report its second quarter 2026 results before the market opens on Wednesday, July 29, 2026. The earnings release will be available on OneMain's investor relations website at http://investor.onemainfinancial.com.

A conference call to discuss the company's results, outlook and related matters will be held that morning at 9:00 a.m. Eastern. The general public is invited to listen to the call by dialing 877-407-0792 (U.S. domestic) or 201-689-8263 (international), and using conference ID 13761044, or via a live audio webcast through our investor relations website. For those unable to listen to the live broadcast, a replay will be available on our website after the event.

About OneMain Holdings, Inc.

OneMain Financial (NYSE: OMF) is the leader in offering nonprime consumers responsible access to credit and is dedicated to improving the financial well-being of hardworking Americans. We empower our customers to solve today's problems and reach a better financial future through personalized solutions across 48 states, available online and in more than 1,300 locations. OneMain is committed to making a positive impact on the people and the communities we serve. For additional information, please visit www.OneMainFinancial.com.

Contacts
Investor Contact:
Peter R Poillon, 212-359-2432
[email protected] 

SOURCE OneMain Holdings, Inc.

HomeDividends AnalysisDividend IdeasFinancials 

SummaryOneMain Holdings remains resilient amid macro volatility, delivering 2.5% returns since the last coverage and justifying my reiterated buy rating.OMF's risk is mitigated by 55% of personal loans being secured, a $2.8B loan loss allowance, and fixed-rate lending, supporting credit quality.My updated Dividend Discount Model yields a target price of $88.79; with a 20% margin of safety, my buy zone is up to $71.04.OMF offers an attractive ~7% dividend yield, with yields remaining compelling even if the stock appreciates to my conservative target. Kamonchanok Jaikaew/iStock via Getty Images

Two and a half months after my previous coverage, OneMain Holdings, Inc. (OMF) remained resilient. Recent events like the Middle East War and inflation reacceleration did not erode its value. It even delivered 2.5% returns

911 Followers

Analyst’s Disclosure: I/we have a beneficial long position in the shares of OMF either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Should you prioritize the steady returns of an established lender or the high-growth potential of an AI disruptor? Comparing OneMain (OMF +0.09%) and Upstart (UPST 3.42%) helps determine which fits your individual goals.

OneMain focuses on personal loans for nonprime borrowers through a massive network of physical branches and digital tools. Upstart operates as a technology platform that uses artificial intelligence to help banks and credit unions price risk more accurately. Both companies facilitate consumer credit but utilize radically different business models to reach their target markets.

The case for OneMainOneMain provides personal loans and credit products to nonprime consumers through its extensive network of 1,300 branches and online platforms. The company operates in the consumer credit market and is a notable player among financial stocks. By focusing on personalized service and a local presence, it reaches borrowers who may have limited options through traditional banking channels.

For FY 2025, revenue reached nearly $6.2 billion, representing an increase of roughly 9.1% over the previous year. The company reported net income of approximately $783 million, resulting in a net margin of nearly 12.5%. This performance reflects a steady recovery in earnings compared to the prior two fiscal years.

As of its December 2025 balance sheet, the debt-to-equity ratio was roughly 6.7x. This metric indicates that the company's total debt is approximately 6.7 times its shareholders’ equity. Free cash flow, which represents cash from operations minus capital expenditures, reached nearly $3.1 billion in FY 2025.

The case for UpstartUpstart operates an AI-driven marketplace that connects consumers with more than 100 banks and credit unions to facilitate various loan products. The company relies heavily on a small group of partners, with three entities originating roughly 83% of its loans and contributing about 61% of total revenue. Customer concentration like this adds a layer of risk to the business.

In FY 2025, revenue surged by nearly 59% to reach nearly $1.1 billion. This growth allowed the company to return to profitability, reporting net income of roughly $53.6 million. This resulted in a net margin of close to 5.0%, a significant improvement over the net losses recorded in the previous two years.

As of December 2025, the company maintained a debt-to-equity ratio of approximately 2.3x. Its current ratio, which measures the ability to cover short-term liabilities with short-term assets, was roughly 3.0x. For the fiscal year, Upstart reported negative free cash flow of approximately -$166.1 million.

Risk profile comparisonOneMain faces significant risks from adverse macroeconomic conditions that could disproportionately impact its nonprime borrower base. The company also navigates intense competition from larger financial institutions, such as JPMorgan Chase  (JPM +2.23%), which have a lower cost of funds. Furthermore, strict oversight from the Consumer Financial Protection Bureau could lead to increased compliance costs or regulatory penalties.

Upstart is highly dependent on institutional investors and a few key lending partners to maintain its loan volume and revenue. Its proprietary AI models pose a risk of pricing errors if they fail to adapt quickly to rapid economic shifts. Additionally, the company faces growing competition from other financial technology firms such as SoFi Technologies (SOFI 4.58%).

Valuation comparisonOneMain currently offers a significantly lower Forward P/E than its rival, making it a potentially attractive option for value-oriented investors.

MetricOneMainUpstartSector BenchmarkForward P/E7.8x35.1x16.6xP/S ratio1.4x3.1xSector benchmark uses the SPDR XLF sector ETF.
Valuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.

While both companies take radically different approaches to providing loans, each business is ultimately dependent on the same thing: the financial health of the average American consumer.

As a business with a greater focus on subprime lending, OneMain is more susceptible to the weaker part of the ‘K-shaped’ economy, where the very wealthiest are thriving while everyone else is in worse financial condition. While that can boost the need for loans, it also heightens the risk of loan defaults by OneMain borrowers. The company hedges this a bit by packaging and selling batches of its loans, such as auto receivables, to other parties.

Upstart, meanwhile, competes for a slightly more upmarket customer base with AI-powered lending models designed to provide near-instantaneous loan offers that accurately reflect risk for the lender. Don’t let the AI nature of the process allow you to overlook what could be very real risks to the modeling: AI may not be able to accurately price loans in changing economic conditions, and, in the long run, regulators may take a closer look at AI lending for bias, given the large amounts of information such systems may consume, and which might violate fairness in lending standards

OneMain is cheaper on a valuation basis, but the company saw an uptick in delinquencies in the first part of the year. While it expects that to decline, it’s an immediate risk. Upstart, meanwhile, is likely more insulated given its slightly higher-quality consumer base. The nearly 36% revenue rise expected for 2026, to more than $1.4 billion, compared to OneMain’s expected 10% revenue rise, gives Upstart the nod.

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith continues its investigation on behalf of OneMain Holdings, Inc. (“OneMain” or the “Company”) (NYSE: OMF) investors concerning the Company's possible violations of federal securities laws.IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN ONEMAIN HOLDINGS, INC. (OMF), CONTACT THE LAW OFFICES OF HOWARD G. SMITH ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS.Contact the Law Offices of Howard G. Smith to discuss your legal rights by e.

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay Wolke & Rotter LLP, a leading national shareholder rights law firm, continues its investigation on behalf of OneMain Holdings, Inc. (“OneMain” or the “Company”) (NYSE: OMF) investors concerning the Company's possible violations of the federal securities laws. IF YOU ARE AN INVESTOR WHO LOST MONEY ON ONEMAIN HOLDINGS, INC. (OMF), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS. What Happened? On March 16, 2026, Washing.

Bragar Eagel & Squire, P.C.  Litigation Partner  Brandon Walker  Encourages Investors Who Suffered Losses In OneMain (OMF) To Contact Him Directly To Discuss Their Options

OneMain (OMF) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

1Q 2026 Diluted EPS of $1.93 1Q 2026 C&I adjusted diluted EPS of $1.95 1Q 2026 Managed receivables of $26.1 billion Declared quarterly dividend of $1.05 per share , /PRNewswire/ -- OneMain Holdings, Inc. (NYSE: OMF), the leader in offering nonprime consumers responsible access to credit, today reported pretax income of $296 million and net income of $226 million for the first quarter of 2026, compared to $275 million and $213 million, respectively, in the prior year quarter. Earnings per diluted share were $1.93 in the first quarter of 2026, compared to $1.78 in the prior year quarter.

On May 1, 2026, OneMain declared a quarterly dividend of $1.05 per share, payable on May 15, 2026, to record holders of the Company's common stock as of the close of business on May 11, 2026.

During the quarter, the Company repurchased approximately 1.9 million shares of common stock for $105 million.

"We delivered a very good start to 2026, executing on our growth initiatives while maintaining our disciplined credit approach and balance sheet management," said Doug Shulman, Chairman and CEO of OneMain. "As we execute across our core loan business and newer products, we are driving revenue growth with good credit performance, reinforcing our ability to generate sustainable, attractive returns for shareholders."

The following segment results are reported on a non-GAAP basis. Refer to the required reconciliations of non-GAAP to comparable GAAP measures at the end of this press release.

Consumer and Insurance Segment ("C&I")

C&I adjusted pretax income was $305 million and adjusted net income was $229 million for the first quarter of 2026, compared to $275 million and $207 million, respectively, in the prior year quarter. Adjusted earnings per diluted share were $1.95 for the first quarter of 2026, compared to $1.72 in the prior year quarter.

Management runs the business based on capital generation, which it defines as C&I adjusted net income excluding the after-tax change in C&I allowance for finance receivable losses while still considering the current period C&I net charge-offs. Capital generation was $194 million for the first quarter of 2026, comparable to the prior year quarter.

Managed receivables, which includes loans serviced for our whole loan sale partners and auto finance loans originated by third parties, were $26.1 billion at March 31, 2026, up 6% from $24.6 billion at March 31, 2025.

Consumer loan originations totaled $3.1 billion in the first quarter of 2026, up 3% from $3.0 billion in the prior year quarter.

Total revenue, comprising interest income and total other revenue, was $1.6 billion in the first quarter of 2026, up 6% from $1.5 billion in the prior year quarter. Interest income in the first quarter of 2026 was $1.4 billion, up 6% from $1.3 billion in the prior year quarter. The increase was driven by receivables growth.

Interest expense was $322 million in the first quarter of 2026, up 4% from $311 million in the prior year quarter, due to an increase in average debt to support our receivables growth.

The provision for finance receivable losses was $465 million in the first quarter of 2026, up $9 million compared to the prior year period. During the first quarter of 2026, the allowance for finance receivable losses decreased $47 million driven by a seasonal decline in receivables.

C&I Select Delinquency and Loss Ratios

March 31, 2026

December 31, 2025

March 31, 2025

Consumer loans:

30+ days delinquency ratio

5.37 %

5.85 %

5.16 %

90+ days delinquency ratio

2.53 %

2.49 %

2.38 %

30-89 days delinquency ratio

2.84 %

3.36 %

2.77 %

Net charge-offs

8.02 %

7.56 %

7.83 %

Operating expense for the first quarter of 2026 was $437 million, up 9% from $401 million in the prior year quarter reflecting receivable growth and strategic investments in the business.

Funding and Liquidity

As of March 31, 2026, the Company had principal debt balances outstanding of $22.7 billion, 51% of which was secured. The Company had $834 million of cash and cash equivalents, which included $155 million of cash and cash equivalents held at regulated insurance subsidiaries or for other operating activities that are unavailable for general corporate purposes.

Cash and cash equivalents, together with the Company's $1.1 billion of undrawn committed capacity from an unsecured corporate revolver, $6.4 billion of undrawn committed capacity under revolving conduit facilities and credit card variable funding note facilities, and $11.4 billion of unencumbered receivables, provides significant liquidity resources.

Conference Call & Webcast Information

OneMain management will host a conference call and webcast to discuss the Company's results, outlook, and related matters at 9:00 am Eastern Time on Friday, May 1, 2026. Both the call and webcast are open to the general public. The general public is invited to listen to the call by dialing 800-420-1271 (U.S. domestic) or 785-424-1634 (international), and using conference ID 31259, or via a live audio webcast through OneMain's investor relations website at http://investor.onemainfinancial.com. For those unable to listen to the live broadcast, a replay will be available on the website after the event. An investor presentation will be available on the OneMain's investor relations website prior to the start of the conference call.

About OneMain Holdings, Inc.

OneMain Financial (NYSE: OMF) is the leader in offering nonprime consumers responsible access to credit and is dedicated to improving the financial well-being of hardworking Americans. We empower our customers to solve today's problems and reach a better financial future through personalized solutions across 48 states, available online and in more than 1,300 locations. OneMain is committed to making a positive impact on the people and the communities we serve. For additional information, please visit www.OneMainFinancial.com. 

Use of Non-GAAP Financial Measures

We report the operating results of Consumer and Insurance using the Segment Accounting Basis, which (i) reflects our allocation methodologies for interest expense and operating costs, to reflect the manner in which we assess our business results and (ii) excludes the impact of applying purchase accounting (eliminates premiums/discounts on our finance receivables and long-term debt at acquisition, as well as the amortization/accretion in future periods). Consumer and Insurance adjusted pretax income (loss), Consumer and Insurance adjusted net income (loss), and Consumer and Insurance adjusted earnings (loss) per diluted share are key performance measures used to evaluate the performance of our business. Consumer and Insurance adjusted pretax income (loss) represents income (loss) before income taxes on a Segment Accounting Basis and excludes net loss resulting from repurchases and repayments of debt, restructuring charges, and other items and strategic activities. We believe these non-GAAP financial measures are useful in assessing the profitability of our segment.

We also use pretax capital generation and capital generation, non-GAAP financial measures, as a key performance measure of our segment. Pretax capital generation represents Consumer and Insurance adjusted pretax income, as discussed above, and excludes the change in our Consumer and Insurance allowance for finance receivable losses in the period while still considering the Consumer and Insurance net charge-offs incurred during the period. Capital generation represents the after-tax effect of pretax capital generation. We believe that these non-GAAP measures are useful in assessing the capital created in the period impacting the overall capital adequacy of the Company. We believe that the Company's reserves, combined with its equity, represent the Company's loss absorption capacity. 

We utilize these non-GAAP measures in evaluating our performance. Additionally, these non-GAAP measures are consistent with the performance goals established in OMH's executive compensation program. These non-GAAP financial measures should be considered supplemental to, but not as a substitute for or superior to, income (loss) before income taxes, net income, or other measures of financial performance prepared in accordance with GAAP.

This document contains summarized information concerning the Company and its business, operations, financial performance and trends. No representation is made that the information in this document is complete. For additional financial, statistical and business related information see the Company's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission (the "SEC"), as well as the Company's other reports filed with the SEC from time to time, which are or will be available in the Investor Relations section of the OneMain Financial website (www.omf.com) and the SEC's website (www.sec.gov).

Cautionary Note Regarding Forward-Looking Statements

This document contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements preceded by, followed by or that otherwise include the words "anticipates," "appears," "assumes," "believes," "can," "continues," "could," "estimates," "expects," "forecasts," "foresees," "goal," "intends," "likely," "objective," "plans," "projects," "target," "trend," "remains," and similar expressions or future or conditional verbs such as "could," "may," "might," "should," "will" or "would" are intended to identify forward-looking statements, but these words are not the exclusive means of identifying forward-looking statements.

Forward-looking statements are not statements of historical fact but instead represent only management's current beliefs regarding future events, objectives, goals, projections, strategies, performance, and future plans, and underlying assumptions and other statements related thereto. You should not place undue reliance on these forward-looking statements. By their nature, forward-looking statements are subject to risks, uncertainties, assumptions and other important factors that may cause actual results, performance or achievements to differ materially from those expressed in or implied by such forward-looking statements. Important factors that could cause actual results, performance, or achievements to differ materially from those expressed in or implied by forward-looking statements include, without limitation, the following: adverse changes and volatility in general economic conditions, including the interest rate environment and the financial markets; the sufficiency of our allowance for finance receivable losses; increased levels of unemployment and personal bankruptcies; the current inflationary environment and related trends affecting our customers; natural or accidental events such as earthquakes, hurricanes, pandemics, floods or wildfires affecting our customers, collateral, or our facilities; a failure in or breach of our information, operational or security systems or infrastructure or those of third parties, including as a result of cyber incidents, war or other disruptions; the adequacy of our credit risk scoring models; geopolitical risks, including recent geopolitical actions; adverse changes in our ability to attract and retain employees or key executives; increased competition or adverse changes in customer responsiveness to our distribution channels or products; changes in federal, state, or local laws, regulations, or regulatory policies and practices or increased regulatory scrutiny of our business or industry; risks associated with our insurance operations; the costs and effects of any actual or alleged violations of any federal, state, or local laws, rules or regulations; the costs and effects of any fines, penalties, judgments, decrees, orders, inquiries, investigations, subpoenas, or enforcement or other proceedings of any governmental or quasi-governmental agency or authority; our substantial indebtedness and our continued ability to access the capital markets and maintain adequate current sources of funds to satisfy our cash flow requirements; our ability to comply with all of our covenants; the effects of any downgrade of our debt ratings by credit rating agencies; and other risks and uncertainties described in the "Risk Factors" and "Management's Discussion and Analysis" sections of the Company's most recent Form 10-K filed with the SEC and in the Company's other filings with the SEC from time to time.

If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, our actual results may vary materially from what we may have expressed or implied by these forward-looking statements. You should specifically consider the factors identified in this document that could cause actual results to differ before making an investment decision to purchase our securities. Furthermore, new risks and uncertainties arise from time to time, and it is impossible for us to predict those events or how they may affect us.

Forward looking statements included in this document speak only as of the date on which they were made. We undertake no obligation to update or revise any forward-looking statements, whether written or oral, to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events or the non-occurrence of anticipated events, whether as a result of new information, future developments or otherwise, except as required by law.

OneMain Holdings, Inc.

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

Quarter Ended

Fiscal Year

(unaudited, $ in millions, except per share amounts)

Mar 31,
2026

Dec 31,
2025

Sep 30,
2025

Jun 30,
2025

Mar 31,
2025

2025

2024

Interest income

$     1,387

$     1,416

$     1,392

$     1,339

$     1,308

$     5,455

$     4,993

Interest expense

(322)

(323)

(320)

(317)

(312)

(1,272)

(1,185)

Net interest income

1,065

1,093

1,072

1,022

996

4,183

3,808

Provision for finance receivable losses

(465)

(542)

(488)

(511)

(456)

(1,997)

(2,040)

Net interest income after provision for finance receivable losses

600

551

584

511

540

2,186

1,768

Insurance

112

113

112

111

110

445

445

Investment

23

22

26

24

26

98

108

Gain on sales of finance receivables

16

14

17

17

16

64

23

Net loss on repurchases and repayments of debt

(3)

(1)

(39)

(21)

(5)

(67)

(34)

Other

49

45

47

45

41

180

153

Total other revenues

197

193

163

176

188

720

695

Operating expenses

(449)

(447)

(436)

(419)

(404)

(1,707)

(1,607)

Insurance policy benefits and claims

(52)

(48)

(48)

(54)

(49)

(198)

(189)

Total other expenses

(501)

(495)

(484)

(473)

(453)

(1,905)

(1,796)

Income before income taxes

296

249

263

214

275

1,001

667

Income taxes

(70)

(45)

(64)

(47)

(62)

(218)

(158)

Net income

$       226

$       204

$       199

$       167

$       213

$       783

$       509

Weighted average number of diluted shares

117.3

118.3

119.4

119.4

120.0

119.3

120.1

Diluted EPS

$      1.93

$      1.72

$      1.67

$      1.40

$      1.78

$      6.56

$      4.24

Book value per basic share

$     29.21

$     29.01

$     28.53

$     27.99

$     27.50

$     29.01

$     26.74

Return on assets

3.4 %

3.0 %

3.0 %

2.5 %

3.3 %

2.9 %

2.0 %

Change in allowance for finance receivable losses

$        46

$      (50)

$      (61)

$      (66)

$        17

$     (160)

$     (194)

Net charge-offs

(511)

(492)

(427)

(445)

(473)

(1,837)

(1,846)

Provision for finance receivable losses

$     (465)

$     (542)

$     (488)

$     (511)

$     (456)

$   (1,997)

$   (2,040)

Note:

Quarters may not sum to fiscal year due to rounding.

OneMain Holdings, Inc.

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

As of

(unaudited, $ in millions)

Mar 31,
2026

Dec 31,
2025

Sep 30,
2025

Jun 30,
2025

Mar 31,
2025

Assets

Cash and cash equivalents

$       834

$       914

$       658

$       769

$       627

Investment securities

1,614

1,590

1,657

1,683

1,670

Net finance receivables

24,447

24,833

24,465

23,870

23,328

Unearned insurance premium and claim reserves

(771)

(791)

(783)

(764)

(747)

Allowance for finance receivable losses

(2,819)

(2,865)

(2,815)

(2,754)

(2,688)

Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance
receivable losses

20,857

21,177

20,867

20,352

19,893

Restricted cash and restricted cash equivalents

728

699

748

742

736

Goodwill

1,474

1,474

1,474

1,474

1,474

Other intangible assets

281

282

284

285

285

Other assets

1,230

1,252

1,297

1,323

1,344

Total assets

$    27,018

$    27,388

$    26,985

$    26,628

$    26,029

Liabilities and Shareholders' Equity

Long-term debt

$    22,396

$    22,694

$    22,338

$    22,053

$    21,494

Insurance claims and policyholder liabilities

566

576

578

579

567

Deferred and accrued taxes

55

35

42

18

19

Other liabilities

624

682

649

652

669

Total liabilities

23,641

23,987

23,607

23,302

22,749

Common stock

1

1

1

1

1

Additional paid-in capital

1,750

1,757

1,750

1,745

1,734

Accumulated other comprehensive loss

(53)

(41)

(47)

(51)

(65)

Retained earnings

2,680

2,579

2,500

2,425

2,384

Treasury stock

(1,001)

(895)

(826)

(794)

(774)

Total shareholders' equity

3,377

3,401

3,378

3,326

3,280

Total liabilities and shareholders' equity

$    27,018

$    27,388

$    26,985

$    26,628

$    26,029

OneMain Holdings, Inc.

CONSOLIDATED KEY FINANCIAL METRICS (UNAUDITED)

As of

(unaudited, $ in millions)

Mar 31,
2026

Dec 31,
2025

Sep 30,
2025

Jun 30,
2025

Mar 31,
2025

Liquidity

Cash and cash equivalents

$       834

$       914

$       658

$       769

$       627

Cash and cash equivalents unavailable for general corporate purposes

155

176

251

185

139

Unencumbered receivables

11,409

11,837

10,867

9,709

10,163

Undrawn conduit facilities

5,874

5,999

5,999

5,999

5,999

Undrawn corporate revolver

1,100

1,075

1,075

1,125

1,125

Private secured term funding available

—

—

—

—

725

Undrawn credit card revolving variable funding note facilities

500

400

400

400

400

Drawn conduit facilities

1

1

1

1

1

Net adjusted debt

$    21,545

$    21,783

$    21,758

$    21,297

$    20,833

Total Shareholders' equity

$     3,377

$     3,401

$     3,378

$     3,326

$     3,280

Accumulated other comprehensive loss

53

41

47

51

65

Goodwill

(1,474)

(1,474)

(1,474)

(1,474)

(1,474)

Other intangible assets

(281)

(282)

(284)

(285)

(285)

Junior subordinated debt

173

173

172

172

172

Adjusted tangible common equity

1,848

1,859

1,839

1,790

1,758

Allowance for finance receivable losses, net of tax *

2,114

2,149

2,111

2,065

2,016

Adjusted capital

$     3,962

$     4,008

$     3,950

$     3,855

$     3,774

Net leverage (net adjusted debt to adjusted capital)

5.4x

5.4x

5.5x

5.5x

5.5x

*

Income taxes assume a 25% tax rate.

OneMain Holdings, Inc.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (UNAUDITED)

Quarter Ended

Fiscal Year

(unaudited, $ in millions)

Mar 31,
2026

Dec 31,
2025

Sep 30,
2025

Jun 30,
2025

Mar 31,
2025

2025

2024

Consumer & Insurance

$       293

$       247

$       261

$       211

$       270

$       988

$       707

Other

—

—

(2)

(1)

1

(4)

(1)

Segment to GAAP adjustment

3

2

4

4

4

17

(39)

Income before income taxes - GAAP basis

$       296

$       249

$       263

$       214

$       275

$     1,001

$       667

Consumer & Insurance pretax income

$       293

$       247

$       261

$       211

$       270

$       988

$       707

Net loss on repurchases and repayments of debt

3

—

39

20

5

65

33

Restructuring charges

7

1

2

—

—

4

29

Other (1)

2

2

1

—

—

— %

3

13

Consumer & Insurance adjusted pretax income (non-GAAP)

$       305

$       250

$       303

$       231

$       275

$     1,060

$       782

Reconciling items (2)

$        (9)

$        (1)

$      (38)

$      (16)

$        (1)

$      (55)

$     (114)

Consumer & Insurance

$    24,463

$    24,853

$    24,490

$    23,901

$    23,365

$    24,853

$    23,598

Segment to GAAP adjustment

(16)

(20)

(25)

(31)

(37)

(20)

(44)

Net finance receivables - GAAP basis

$    24,447

$    24,833

$    24,465

$    23,870

$    23,328

$    24,833

$    23,554

Consumer & Insurance

$     2,821

$     2,868

$     2,818

$     2,758

$     2,693

$     2,868

$     2,710

Segment to GAAP adjustment

(2)

(3)

(3)

(4)

(5)

(3)

(5)

Allowance for finance receivable losses - GAAP basis

$     2,819

$     2,865

$     2,815

$     2,754

$     2,688

$     2,865

$     2,705

Note:

Quarters may not sum to fiscal year due to rounding.

(1)

Includes strategic activities and other items.

(2)

Reconciling items consist of Segment to GAAP adjustment and the adjustments to Pretax income – segment accounting basis for C&I and Other. The adjustments to Other adjusted pretax income (loss) are not disclosed in the table above due to immateriality.

OneMain Holdings, Inc.

CONSUMER & INSURANCE SEGMENT (UNAUDITED) (Non-GAAP)

Quarter Ended

Fiscal Year

(unaudited, in millions, except per share amounts)

Mar 31,
2026

Dec 31,
2025

Sep 30,
2025

Jun 30,
2025

Mar 31,
2025

2025

2024

Interest income

$     1,383

$     1,411

$     1,386

$     1,333

$     1,301

$     5,432

$     4,965

Interest expense

(322)

(323)

(320)

(317)

(311)

(1,270)

(1,181)

Net interest income

1,061

1,088

1,066

1,016

990

4,162

3,784

Provision for finance receivable losses

(465)

(542)

(488)

(511)

(456)

(1,999)

(1,981)

Net interest income after provision for finance receivable losses

596

546

578

505

534

2,163

1,803

Insurance

112

113

112

111

110

445

445

Investment

23

22

26

24

26

98

108

Gain on sales of finance receivables

16

14

17

17

16

64

23

Other

47

46

45

43

39

175

146

Total other revenues

198

195

200

195

191

782

722

Operating expenses

(437)

(443)

(427)

(415)

(401)

(1,687)

(1,554)

Insurance policy benefits and claims

(52)

(48)

(48)

(54)

(49)

(198)

(189)

Total other expenses

(489)

(491)

(475)

(469)

(450)

(1,885)

(1,743)

Adjusted pretax income (non-GAAP)

305

250

303

231

275

1,060

782

Income taxes *

(76)

(62)

(76)

(58)

(68)

(265)

(195)

Adjusted net income (non-GAAP)

$       229

$       188

$       227

$       173

$       207

$       795

$       587

Weighted average number of diluted shares

117.3

118.3

119.4

119.4

120.0

119.3

120.1

C&I adjusted diluted EPS

$      1.95

$      1.59

$      1.90

$      1.45

$      1.72

$      6.66

$      4.89

Note:

Quarters may not sum to fiscal year due to rounding.

*

Income taxes assume a 25% tax rate.

OneMain Holdings, Inc.

CONSUMER & INSURANCE SEGMENT METRICS (UNAUDITED)

Quarter Ended

Fiscal Year

(unaudited, $ in millions)

Mar 31,
2026

Dec 31,
2025

Sep 30,
2025

Jun 30,
2025

Mar 31,
2025

2025

2024

Net finance receivables - personal loans

$    20,918

$    21,430

$    21,225

$    20,814

$    20,469

$    21,430

$    20,833

Net finance receivables - auto finance

2,562

2,487

2,431

2,335

2,220

2,487

2,122

Net finance receivables - consumer loans

23,480

23,917

23,656

23,149

22,689

23,917

22,955

Net finance receivables - credit cards

983

936

834

752

676

936

643

Net finance receivables

$    24,463

$    24,853

$    24,490

$    23,901

$    23,365

$    24,853

$    23,598

Allowance for finance receivable losses

$     2,821

$     2,868

$     2,818

$     2,758

$     2,693

$     2,868

$     2,710

Allowance ratio

11.53 %

11.54 %

11.51 %

11.54 %

11.52 %

11.54 %

11.48 %

Net finance receivables

24,463

24,853

24,490

23,901

23,365

24,853

23,598

Finance receivables serviced for our whole loan sale partners

1,588

1,458

1,395

1,316

1,232

1,458

1,141

Managed receivables

$    26,051

$    26,311

$    25,885

$    25,217

$    24,597

$    26,311

$    24,739

Average net finance receivables - personal loans

$    21,168

$    21,404

$    21,045

$    20,637

$    20,660

$    20,937

$    20,301

Average net finance receivables - auto finance

2,515

2,462

2,390

2,278

2,166

2,324

1,662

Average net finance receivables - consumer loans

23,683

23,866

23,435

22,915

22,826

23,261

21,963

Average net finance receivables - credit cards

962

879

803

719

668

767

477

Average net receivables

24,645

24,745

24,238

23,634

23,494

24,028

22,440

Average receivables serviced for our whole loan sale partners

1,540

1,434

1,366

1,285

1,196

1,320

1,113

Average managed receivables

$    26,185

$    26,179

$    25,604

$    24,919

$    24,690

$    25,348

$    23,553

Note:

Consumer & Insurance financial information is presented on an adjusted Segment Accounting Basis. Amounts may not sum due to rounding.

OneMain Holdings, Inc.

CONSUMER & INSURANCE KEY METRICS (UNAUDITED) (Non-GAAP)

Quarter Ended

Fiscal Year

(unaudited, in millions)

Mar 31,
2026

Dec 31,
2025

Sep 30,
2025

Jun 30,
2025

Mar 31,
2025

2025

2024

Adjusted pretax income (non-GAAP)

$       305

$       250

$       303

$       231

$       275

$    1,060

$      782

Provision for finance receivable losses

465

542

488

511

456

1,999

1,981

Net charge-offs

(512)

(492)

(428)

(446)

(473)

(1,841)

(1,849)

Change in C&I allowance for finance receivable losses (non-GAAP)

(47)

50

60

65

(17)

158

132

Pretax capital generation (non-GAAP)

258

300

363

296

258

1,218

914

Capital generation, net of tax* (non-GAAP)

$       194

$       225

$       272

$       222

$       194

$       913

$       685

C&I average net receivables

$  24,645

$  24,745

$  24,238

$  23,634

$  23,494

$  24,028

$  22,440

Capital generation return on receivables  (non-GAAP)

3.2 %

3.6 %

4.5 %

3.8 %

3.3 %

3.8 %

3.1 %

Note:

Consumer & Insurance financial information is presented on an adjusted Segment Accounting Basis. Amounts may not sum to fiscal year due to rounding.

*

Income taxes assume a 25% rate.

OneMain Holdings, Inc.

CONSUMER & INSURANCE CONSUMER LOANS METRICS (UNAUDITED)

Quarter Ended

Fiscal Year

(unaudited, $ in millions)

Mar 31,
2026

Dec 31,
2025

Sep 30,
2025

Jun 30,
2025

Mar 31,
2025

2025

2024

Gross charge-offs

$       567

$       540

$       480

$       496

$       525

$     2,043

$     2,080

Recoveries

(98)

(86)

(86)

(85)

(85)

(342)

(307)

Net charge-offs

$       469

$       454

$       394

$       411

$       440

$     1,701

$     1,773

Gross charge-off ratio

9.70 %

8.98 %

8.13 %

8.68 %

9.34 %

8.78 %

9.34 %

Recovery ratio

(1.68 %)

(1.42 %)

(1.45 %)

(1.49 %)

(1.52 %)

(1.47 %)

(1.39 %)

Net charge-off ratio

8.02 %

7.56 %

6.67 %

7.19 %

7.83 %

7.31 %

7.94 %

Average net receivables

$    23,683

$    23,866

$    23,435

$    22,915

$    22,826

$    23,261

$    21,963

Yield

22.5 %

22.5 %

22.6 %

22.6 %

22.4 %

22.5 %

22.1 %

Origination volume

$      3,104

$      3,609

$      3,889

$      3,907

$      3,022

$    14,427

$    13,321

30+ delinquency

$      1,260

$      1,399

$      1,312

$      1,197

$      1,170

$      1,399

$      1,322

90+ delinquency

$         594

$         596

$         556

$         491

$         540

$         596

$         579

30-89 delinquency

$         666

$         803

$         756

$         706

$         630

$         803

$         743

30+ delinquency ratio

5.37 %

5.85 %

5.55 %

5.17 %

5.16 %

5.85 %

5.76 %

90+ delinquency ratio

2.53 %

2.49 %

2.35 %

2.12 %

2.38 %

2.49 %

2.52 %

30-89 delinquency ratio

2.84 %

3.36 %

3.20 %

3.05 %

2.77 %

3.36 %

3.24 %

Note:

Consumer & Insurance financial information is presented on a Segment Accounting Basis. Delinquency ratios are calculated as a percentage of C&I consumer loan net finance receivables. Amounts may not sum due to rounding.

Defined Terms

Adjusted capital: adjusted tangible common equity + allowance for finance receivable losses (ALLL), net of tax Adjusted tangible common equity (TCE): total shareholders' equity – accumulated other comprehensive loss – goodwill – other intangible assets + junior subordinated debt Auto finance: financing at the point of purchase through a network of auto dealerships Available cash and cash equivalents: cash and cash equivalents – cash and cash equivalents held at our regulated insurance subsidiaries or is unavailable for general corporate purposes Average assets: average of monthly average assets (assets at the beginning and end of each month divided by two) in the period Average managed receivables: C&I average net receivables + average receivables serviced for our whole loan sale partners C&I adjusted diluted EPS: C&I adjusted net income (non-GAAP) /  weighted average diluted  shares Capital generation: C&I adjusted net income – change in C&I allowance for finance receivable losses, net of tax Capital generation return on receivables*:  annualized capital generation / C&I average net receivables Consumer loans: personal loans and auto finance Finance receivables serviced for our whole loan sale partners: unpaid principal balance plus accrued interest of loans sold as part of our whole loan sale program Gross charge-off ratio*: annualized gross charge-offs / average net receivables Managed receivables: C&I net finance receivables + finance receivables serviced for our whole loan sale partners + auto finance loans originated by third parties Net adjusted debt: long-term debt – junior subordinated debt – available cash and cash equivalents Net charge-off ratio*: annualized net charge-offs / average net receivables Net leverage: net adjusted debt / adjusted capital Opex ratio: annualized C&I operating expenses / average managed receivables Origination volume: loans originated during the period, including those originated and sold to our whole loan sale partners that we continue to service Other net revenue: other revenues – insurance policy benefits and claims expense Personal loans: loans secured by automobiles, other collateral or are unsecured and offered through our branch network, central operations, or digital platform Pretax capital generation: C&I pretax adjusted net income – change in C&I allowance for finance receivable losses Purchase volume: credit card purchase transactions + cash advances – returns Return on assets (ROA): annualized net income / average total assets Return on receivables (C&I ROR): annualized C&I adjusted net income / C&I average net receivables Total revenue: C&I interest income + C&I total other revenue Unencumbered receivables: unencumbered unpaid principal balance of consumer loans and credit cards. For precompute personal loans, unpaid principal balance is the gross contractual payments less the unaccreted balance of unearned finance charges. Credit card receivables include those in the trust that exceed the minimum for securing advances under credit card variable funding note facilities, which the Company can remove from the trust under the terms of such facilities, and exclude interest, fees, and closed accounts with balances *

Fiscal year 2024 adjusted for policy alignment associated with the Foursight acquisition.

OneMain Holdings, Inc.

Investor Contact:
Peter R. Poillon, 212-359-2432
[email protected]

Media Contact:
Howard Schloss, 202-236-5296
[email protected]

SOURCE OneMain Holdings, Inc.

For the quarter ended March 2026, OneMain Holdings (OMF - Free Report) reported revenue of $1.07 billion, up 6.9% over the same period last year. EPS came in at $1.95, compared to $1.72 in the year-ago quarter.

The reported revenue represents a surprise of -0.58% over the Zacks Consensus Estimate of $1.07 billion. With the consensus EPS estimate being $1.92, the EPS surprise was +1.75%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how OneMain performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Net charge-off ratio (Consumer and Insurance Segment): 8% versus the two-analyst average estimate of 8%.Net Interest Income: $1.07 billion versus $1.07 billion estimated by three analysts on average.Other income: $49 million versus the three-analyst average estimate of $62.39 million.Investment: $23 million versus the three-analyst average estimate of $25.24 million.Net interest income after provision for finance receivable losses: $600 million versus the three-analyst average estimate of $585.65 million.Total other revenues: $197 million compared to the $200.41 million average estimate based on three analysts.Insurance: $112 million compared to the $112.78 million average estimate based on three analysts.View all Key Company Metrics for OneMain here>>>

Shares of OneMain have returned +8.7% over the past month versus the Zacks S&P 500 composite's +10.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Accelerates Transition to SHOP-Dominant Overall Portfolio and Strengthens Balance Sheet Accelerates Transition to SHOP-Dominant Overall Portfolio and Strengthens Balance Sheet

The market is sleeping on two high-yielding opportunities that trade at deep discounts to fair value. Both companies have strong balance sheets, sound fundamentals, fully covered dividends, and are buying back stock. However, the market has recently sold off both of these opportunities, creating a great buy-the-dip opportunity for long-term-oriented income investors.

OneMain Holdings is upgraded to a strong buy, offering 20%+ upside and an 8% dividend yield. OMF's conservative underwriting, robust reserves (242% of delinquencies), and resilient employment trends support manageable credit risk despite inflationary pressures. Loan growth guidance remains at 6-9%, with net charge-offs expected in the upper half of the 7.4-7.9% range.