# OppFi (OPFI.US)

Canonical: https://gigainvestors.com/s/OPFI

Analysis as of: 2026-10-16T07:30:55.987Z. Financial observations: FY2019–FY2025.

Listing currency: USD. Reporting currency: USD.

## Verdict

Not a wonderful business

Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: $5.77 per share; close as of 2026-10-15.

Estimated value: low $2.20 per share, central $2.75 per share, high $3.66 per share. Buy at or below the central value $2.75 per share. Valuation as of 2026-10-16T07:30:55.987Z; scenarios are not confidence intervals.

Expected annual return: 7.9% at the stated quote. About 7.9% a year at today's price (required return 10.0%). required return 10.0% a year (10% floor; US 10-year bond 5.1% + 4 points).

## Checklist

### understandable: fail

- positive earnings in fewer than 7 of 7 years

- Financial history: 7 years

- Profitable years in the last ten: 6

- Required profitable years: 7

- Return on common equity variation (informational): 0.80×

Chart: Net income; fiscal year observations.

- FY2019: $33M

- FY2020: $78M

- FY2021: $26M

- FY2022: $7.1M

- FY2023: -$1.0M

- FY2024: $7.3M

- FY2025: $26M

### moat: fail

- Tangible common book per share

- Parent-total proxy for preferred equity

- return on tangible common equity below 5% in more than one year

- Bank / P&C ROTE, median of available years: 22.1%

- Required median return: 12.0%

- Return uses tangible common equity: Yes

- Bank ROTE, second-lowest year: 0.0%

- Years with reported combined ratio: 0

Chart: Return on tangible common equity; fiscal year observations.

- FY2019: 88.1%

- FY2020: 78.0%

- FY2021: 0.0%

- FY2022: 0.0%

- FY2023: -9.6%

- FY2024: 22.1%

- FY2025: 45.0%

### economics: fail

- Tangible common book per share

- Parent-total proxy for preferred equity

- nonpositive book value in the compounding window

- Book return interval: 6 years

- Starting book value per share: $2.89

- Ending book value per share: $2.21

### management: fail

- Tangible common book per share

- Parent-total proxy for preferred equity

- ordinary share count growth exceeds 2% annually in both the full and five-year windows

- book per share gain below retained common earnings per share

- Diluted shares, 10-year annual growth: 12.6%

- Diluted shares, 5-year annual growth: 15.4%

- Share growth excluding flagged crisis recapitalisations: 12.6%

- Five-year share growth excluding flagged crisis recapitalisations: 15.4%

- Flagged crisis recapitalisations: 0

- Book created / earnings retained after dividends and buybacks: -0.21×

- Book value created per share: -$0.68

- Earnings retained per share after dividends and buybacks: $3.28

Chart: Shares (first year = 100); fiscal year observations.

- FY2019: 100

- FY2020: 100

- FY2021: 103

- FY2022: 130

- FY2023: 126

- FY2024: 155

- FY2025: 204

### accounting: pass

- Financial accounting warning count: 0

- Known restatement years: 0

## Holders

## Price story

Down 59% since Jun 2025 · "OppFi (OPFI) Cuts Guidance but Holds the Line on 2028 Targets" (finance.yahoo.com, Aug 2026) · net income +262.8%

Story as of 2026-10-16T09:59:20.258Z; price observation 2026-10-15.

The price is 0.4 times annual sales

- 2026-08-20: OppFi (OPFI) Cuts Guidance but Holds the Line on 2028 Targets ([finance.yahoo.com](https://finance.yahoo.com/markets/stocks/articles/oppfi-opfi-cuts-guidance-holds-100836967.html))

### Net income · FY2025

net income +262.8%; source https://www.sec.gov/Archives/edgar/data/1818502/000181850226000019/opfi-20251231.htm; observed 2026-03-12.

- FY2019: $33M 

- FY2020: $78M 

- FY2021: $26M 

- FY2022: $7.1M 

- FY2023: -$1.0M 

- FY2024: $7.3M 

- FY2025: $26M 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in credit services; annual sales are USD 381.2 million.

- Source: https://www.sec.gov/Archives/edgar/data/1818502/000181850226000019/opfi-20251231.htm#000181850226000019 (filed 2026-03-12); FY2025: revenue 381182000.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-05); OPFI.US: OppFi Inc., a tech-enabled digital finance platform, provides financial products and services for banks in the United States. The company offers installment loans through OppLoans platform. It serves consumers who are turned away by mainstream options. OppFi Inc. was founded in 2012 and is based in Chicago, Illinois.

### Why customers stay

It earns 22.1% on shareholders’ money, excluding intangible assets.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-12); 7-year return on tangible equity observations [[2019,0.8810993834440638],[2020,0.7803740486449483],[2021,0],[2022,0],[2023,-0.09626436781609195],[2024,0.2214560322206627],[2025,0.45019150536898983]]; median 0.2214560322206627. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Where the cash goes

Paid dividends in 8 of 8 years; bought back USD 15.5 million of shares.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-12); Dividend observations: [[2018,2346646],[2019,9485000],[2020,15776000],[2021,51024000],[2022,1309000],[2023,10230000],[2024,2374000],[2025,64914000]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://www.sec.gov/Archives/edgar/data/1818502/000181850226000019/opfi-20251231.htm (filed 2026-03-12); FY2025: cash repurchases 15517000 USD.

### Are managers owners

Insiders own 60.5% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-05); OPFI.US SharesStats.PercentInsiders = 60.504000000000005 percentage points; cache date 2026-10-05.

### What the price says

The price is 0.4 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-12); Closing price 5.77 USD; reporting-to-trading FX 1; FY2025 annual sales per share 14.38072186031042; price multiple 0.4012315971373254. FY2025 cash earnings/share 0.9339098480688377. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2020-11: $9.88 per share

- 2020-12: $10.18 per share

- 2021-01: $10.84 per share

- 2021-02: $10.15 per share

- 2021-03: $10.19 per share

- 2021-04: $10.17 per share

- 2021-05: $10.10 per share

- 2021-06: $10.21 per share

- 2021-07: $9.94 per share

- 2021-08: $8.44 per share

- 2021-09: $7.86 per share

- 2021-10: $6.40 per share

- 2021-11: $4.90 per share

- 2021-12: $4.54 per share

- 2022-01: $4.67 per share

- 2022-02: $3.58 per share

- 2022-03: $3.43 per share

- 2022-04: $2.97 per share

- 2022-05: $3.65 per share

- 2022-06: $3.29 per share

- 2022-07: $3.06 per share

- 2022-08: $2.71 per share

- 2022-09: $2.30 per share

- 2022-10: $2.27 per share

- 2022-11: $2.49 per share

- 2022-12: $2.05 per share

- 2023-01: $2.30 per share

- 2023-02: $2.11 per share

- 2023-03: $2.05 per share

- 2023-04: $1.90 per share

- 2023-05: $2.04 per share

- 2023-06: $2.04 per share

- 2023-07: $2.08 per share

- 2023-08: $2.58 per share

- 2023-09: $2.52 per share

- 2023-10: $2.23 per share

- 2023-11: $3.54 per share

- 2023-12: $5.12 per share

- 2024-01: $3.21 per share

- 2024-02: $3.52 per share

- 2024-03: $2.50 per share

- 2024-04: $2.67 per share

- 2024-05: $3.23 per share

- 2024-06: $3.39 per share

- 2024-07: $3.86 per share

- 2024-08: $4.77 per share

- 2024-09: $4.73 per share

- 2024-10: $5.12 per share

- 2024-11: $8.16 per share

- 2024-12: $7.66 per share

- 2025-01: $13.71 per share

- 2025-02: $9.86 per share

- 2025-03: $9.30 per share

- 2025-04: $9.35 per share

- 2025-05: $12.67 per share

- 2025-06: $13.99 per share

- 2025-07: $10.64 per share

- 2025-08: $10.21 per share

- 2025-09: $11.33 per share

- 2025-10: $9.75 per share

- 2025-11: $9.90 per share

- 2025-12: $10.46 per share

- 2026-01: $9.52 per share

- 2026-02: $9.18 per share

- 2026-03: $7.71 per share

- 2026-04: $9.51 per share

- 2026-05: $8.49 per share

- 2026-06: $9.93 per share

- 2026-07: $9.37 per share

- 2026-08: $6.93 per share

- 2026-09: $6.03 per share

- 2026-10: $5.77 per share

## Annual estimated value (USD per share)

- FY2023: low $2.04 per share, central $2.55 per share, high $3.40 per share

- FY2024: low $5.21 per share, central $6.51 per share, high $8.68 per share

- FY2025: low $7.06 per share, central $8.83 per share, high $11.77 per share

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/1818502/000181850226000019/opfi-20251231.htm); period 2025-12-31, filed 2026-03-12.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.

## Reported holder observations



# OPFI — Oppfi Inc

Held by 1 investor · USD 66,930 total · 2024 Q3 · reported price USD 4.72 (split-adjusted).
Page: https://gigainvestors.com/s/OPFI

## Holders (2024 Q3)

| Investor | Value | % of their portfolio | This quarter |
|---|---:|---:|---|
| Sarah Ketterer (https://gigainvestors.com/CAU) | USD 66,930 | 0.0% | reduce -19.46% |

## Total held by quarter

- 2024 Q2: USD 60,036 · 1 holder · USD 3.41
- 2024 Q3: USD 66,930 · 1 holder · USD 4.72
- 2024 Q4: USD 0 · 0 holders