An industry chapter · Consumer Finance

Consumer Finance

22 members, AFRM to WRLD, A to Z by ticker.

Gross profitability: median 13% — gross profit as a share of total assets, each member's median across its readable years; read on 4 of 22 members
Capital intensity: median 1.9% — capital expenditure as a share of revenue, each member's median across its readable years; read on 9 of 22 members
Net cash: 2 of the 11 members with a readable debt line hold more cash and short-term investments than total debt

Figures describe the list as a group, from each member's own filed record; they name no member and form no rank. A member missing an input is absent from that median, never counted against the others.

From the latest filings · data as of July 9, 2026.

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AFRM Affirm Holdings

Our proprietary technology's ability to price and assess risk at a transaction level provides a unique advantage compared to legacy payment and credit systems.

Owner earnings 2019–2025 ($93M)($81M)($213M)($215M)($109M)$291M$602M

Retained capital Paid out $3.1B more than it earned over 2019–2025; annual owner earnings grew $390M.

Balance sheet Net debt against an operating loss, $6.3B

ALLY Ally Financial Inc.

Ally Financial Inc. is a financial-services company with $196.0 billion in assets as of December 31, 2025.

Owner earnings not applied to a balance-sheet business

Retained capital not applied to a balance-sheet business

Balance sheet a balance-sheet business; the net-cash read is not applied

ATLC Atlanticus Holdings Corporation

Atlanticus is a financial technology company powering more inclusive financial solutions for Everyday Americans.

Owner earnings not applied to a balance-sheet business

Retained capital not applied to a balance-sheet business

Balance sheet a balance-sheet business; the net-cash read is not applied · buybacks at an average near $6.69

ATLCL Atlanticus Holdings Corp

Atlanticus is a financial technology company powering more inclusive financial solutions for Everyday Americans.

Owner earnings not applied to a balance-sheet business

Retained capital not applied to a balance-sheet business

Balance sheet a balance-sheet business; the net-cash read is not applied · buybacks at an average near $6.69

ATLCP Atlanticus Holdings Corp

Atlanticus is a financial technology company powering more inclusive financial solutions for Everyday Americans.

Owner earnings not applied to a balance-sheet business

Retained capital not applied to a balance-sheet business

Balance sheet a balance-sheet business; the net-cash read is not applied · buybacks at an average near $6.69

ATLCZ Atlanticus Holdings Corp

Atlanticus is a financial technology company powering more inclusive financial solutions for Everyday Americans.

Owner earnings not applied to a balance-sheet business

Retained capital not applied to a balance-sheet business

Balance sheet a balance-sheet business; the net-cash read is not applied · buybacks at an average near $6.69

CACC Credit Acceptance Corporation

Credit Acceptance Corporation makes vehicle ownership possible by providing innovative financing solutions that enable automobile dealers to sell vehicles to consumers, regardless of their credit history.

Owner earnings 2016–2025 $502M$560M$699M$805M$977M$1.1B$1.2B$1.2B$1.1B$1.1B

Retained capital Retained $253M of earnings over 2016–2025; annual owner earnings grew $543M.

Balance sheet Heavy net debt, $5.1B · buybacks at an average near $443

DFS Discover Financial Services

A balance-sheet business, read on book value, net interest margin and credit losses rather than an earnings multiple.

Owner earnings not applied to a balance-sheet business

Retained capital not applied to a balance-sheet business

Balance sheet a balance-sheet business; the net-cash read is not applied

ECPG Encore Capital Group Inc

A balance-sheet business, read on book value, net interest margin and credit losses rather than an earnings multiple.

Owner earnings not applied to a balance-sheet business

Retained capital not applied to a balance-sheet business

Balance sheet a balance-sheet business; the net-cash read is not applied

ENVA Enova International Inc.

An asset-light business: the value sits in intellectual property and people, not plant, so the question is how durable the advantage is, not how high the margin.

Owner earnings 2016–2025 $379M$432M$670M$834M$721M$442M$850M$1.1B$1.5B$1.8B

Retained capital Retained $675M of earnings over 2016–2025; annual owner earnings grew $969M, $1.44 per $1 retained.

Balance sheet Heavy net debt, $4.4B

EZPW EZCORP Inc. Class A Non Voting

EZCORP, Inc. is a leading provider of pawn services in the United States and Latin America with 1,360 locations and approximately 8,500 Team Members.

Owner earnings 2016–2025 $55M$26M$63M$75M$21M$23M$35M$70M$78M$110M

Retained capital Retained $157M of earnings over 2016–2025; annual owner earnings grew $38M, $0.24 per $1 retained.

Balance sheet Modest net debt, $49M

FCFS FirstCash Holdings Inc.

FirstCash Holdings, Inc., along with its wholly owned subsidiaries, is the leading operator of pawn stores in the U.S., Latin America and the U.K.

Owner earnings 2016–2025 $76M$194M$208M$187M$185M$181M$434M$356M$472M$531M

Retained capital Retained $212M of earnings over 2016–2025; annual owner earnings grew $293M, $1.38 per $1 retained.

Balance sheet Meaningful net debt, $2.1B · buybacks at an average near $82.53 · dividend paid 10 of 10 yrs, never cut

JCAP Jefferson Capital Inc.

We provide debt recovery solutions and other related services across a broad range of consumer receivables, including credit card, secured and unsecured automotive, telecom and utilities, and other receivables.

Owner earnings not read

Retained capital not read

Balance sheet Heavy net debt, $1.7B

LPRO Open Lending Corporation

Lending market have fewer lenders focused on loans with longer terms or higher advance rates.

Owner earnings 2018–2025 $28M$42M$23M$95M$107M$83M$17M($3M)

Retained capital Paid out $226M more than it earned over 2018–2025; annual owner earnings grew $1M.

Balance sheet Net cash, +$19M · buybacks at an average near $5.78 · dividend paid 3 of 8 yrs, cut at least once

OMF OneMain Holdings Inc.

Our national branch network and digital platform, combined with our central operations and our network of auto dealerships, provide the opportunity for the Company to serve this market efficiently and responsibly.

Owner earnings not applied to a balance-sheet business

Retained capital not applied to a balance-sheet business

Balance sheet a balance-sheet business; the net-cash read is not applied

ORBS Eightco Holdings Inc.

Eightco Holdings Inc. is the largest public market participant in the Worldcoin ecosystem, holding approximately 10% of WLD's circulating supply as of December 31, 2025.

Owner earnings 2024–2025 ($7M)($11M)

Retained capital not read

Balance sheet Net cash, +$49M

PRAA PRA Group Inc.

We are organized on a geographic basis, with our principal markets in the U.S. and Europe, where we have operations in 12 countries and the United Kingdom.

Owner earnings 2016–2025 $192M$75K$66M$115M$124M$74M$8M($100M)($99M)($90M)

Retained capital Retained $157M of earnings over 2016–2025; annual owner earnings fell $182M, $-1.16 per $1 retained.

Balance sheet Net debt against an operating loss, $3.6B · buybacks at an average near $43.53

RM Regional Management Corp.

We are a diversified consumer finance company that provides installment loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies, and other lenders.

Owner earnings 2016–2025 $94M$111M$141M$152M$161M$185M$218M$244M$264M$304M

Retained capital Retained $225M of earnings over 2016–2025; annual owner earnings grew $156M, $0.69 per $1 retained.

Balance sheet Meaningful net debt, $1.5B · buybacks at an average near $37.53

SLM SLM Corporation

Mission SLM Corporation, more commonly known as Sallie Mae, is the premier financial brand in higher education.

Owner earnings not applied to a balance-sheet business

Retained capital not applied to a balance-sheet business

Balance sheet a balance-sheet business; the net-cash read is not applied

SLMBP SLM Corp

Mission SLM Corporation, more commonly known as Sallie Mae, is the premier financial brand in higher education.

Owner earnings not applied to a balance-sheet business

Retained capital not applied to a balance-sheet business

Balance sheet a balance-sheet business; the net-cash read is not applied

TROO TROOPS Inc. Ordinary Shares

TROOPS, Inc. is a conglomerate group of various businesses with its headquarters based in Hong Kong.

Owner earnings not applied to a balance-sheet business

Retained capital not applied to a balance-sheet business

Balance sheet a balance-sheet business; the net-cash read is not applied

WRLD World Acceptance Corporation

World Acceptance Corporation offers an income tax return preparation and electronic filing program in all but a few of its branches.

Owner earnings 2017–2026 $213M$209M$238M$274M$220M$266M$286M$260M$250M$255M

Retained capital Paid out $175M more than it earned over 2017–2026; annual owner earnings grew $35M.

Balance sheet Heavy net debt, $581M · buybacks at an average near $120

The same four lines for every member, in strict ticker order; a figure that could not be read renders as "not read," never as a mark against the record beside it. The header describes the list and names no member; the entries carry no ranking and form no score. What a chapter cannot carry — understanding of the business, and a price — is yours.