OMF NYSE Russell 1000 Earnings call
OneMain Financial (OMF) · Q2 2026 results and valuation
Share price: $55.36 · 2026-11-11
Results Q2 2026 vs Q1 2026 · previous quarter · published 29 Jul 2026 and 1 May 2026
Net income down 32.7% on the previous quarter. Management sounded upbeat, though noticeably less so answering analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
−32.7%
Net income vs Q1 2026
Outlook given
Net income 152.0M vs 226.0M
Revenue +2.7%
Against the same quarter last year (Q2 2025) it is −9.0% — part of the move on last quarter is seasonal.
2 · How management spoke
Upbeat
More upbeat than 75% of company calls
Answers to analysts: restrained, but clearly less so than the script.
Last call it was different: script and answers matched.
3 · What stood out
Figure
Originations grew 19 percent during the quarter and receivables reached $3 billion, a 14 percent year-over-year increase.
Valuation
Is OneMain Financial undervalued?
Reverse DCF on net income from the last full fiscal year (no meaningful free cash flow: a bank, insurer or a year of negative cash flow) (2025-12-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
At 10.0% growth a year (the standard assumption), the model's fair value is $154.24 a share — the stock trades 64% below it. Today's price assumes −4.7% growth a year.
Current price
$55.36
close of 2026-11-11
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
-4.7% for 10 yrs
Fair value / share
$154.24
Buy below
$115.68
Price vs fair value
Undervalued 64%
Price vs buy-below price
Undervalued 52%
Read between the lines
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Guidance
Funding costs expected to stay at current levels for the remainder of 2026.
Source quote
“We expect our funding costs to remain at approximately this level throughout the rest of 2026.”
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Guidance
Credit losses are expected between 7.4% and 7.9%, supported by improving early and late stage delinquency trends.
Source quote
“We expect C&I net charge offs to come in between 7.4 to 7.9 percent, as we see improving early and late stage delinquency trends that support our expectation...”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q1 2026.
Management sounded noticeably less positive answering analysts than in its prepared script — a bigger drop than in 86% of calls. Scripts are polished in advance; a drop under questioning often marks the topics analysts pressed on, so the answers deserve a closer read than the script.
Sentences that drove the tone
“This strong growth was achieved while maintaining our conservative underwriting, reflecting the effectiveness of our new products and innovative growth strategies.”
“we delivered strong second quarter results across key financial metrics including profitable growth, good credit results, as our customers remain resilient, disciplined expense management, coupled with investment for the future,...”
“A solid improvement over the 14-basis point year on year increase we saw last quarter.”
Full figures
USD · ROIC.AI fundamentals (NYSE:OMF, period end 2026-06-30)
| Metric | Q2 2026period end 2026-06-30 | Q1 2026period end 2026-03-31 | Change | Q2 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | 1.30B | 1.26B | +2.7% | 1.22B | +6.6% |
| Net income | 152.0M | 226.0M | −32.7% | 167.0M | −9.0% |
| EPS | 1.32 | 1.95 | −32.4% | 1.41 | −6.0% |
| P/E today 8.4 | — | 8.0 | — | 10.3 | — |
Topics
Most discussed now
- This strong performance supported OneMain Financial's 7 percent growth in managed receivables, up from 6 percent in the first quarter.
- OneMain Financial is seeing originations growth accelerate across its business.
- OneMain Financial delivered strong second quarter results across key financial metrics including profitable growth, good credit results, as…
- OneMain Financial was able to deliver this growth while maintaining its conservative credit posture across all its products as it...
- OneMain Financial remains committed to its conservative underwriting posture, while continuing to drive growth in its personal loan…
Faded since Q1 2026
- Fading OneMain Financial saw good performance in its personal loan business, coupled with growth in auto and outsized improvement across key…
- Fading While OneMain Financial remains committed to its dividend as the primary means to return capital to its shareholders, it continues to...
- Fading Looking ahead for the year, OneMain Financial expects to continue generating excess capital though at more moderate levels as it deploys...
- Fading In the first quarter, OneMain Financial generated higher excess capital due to its seasonally lower growth needs and returned that excess...
Latest announcements
Official filings, newest first.
- Material agreement; New financial obligation · SEC 8-K
- Material agreement · SEC 8-K
- Results of operations; Regulation FD disclosure · SEC 8-K
- Director or officer change; Shareholder vote results · SEC 8-K
- Results of operations; Regulation FD disclosure · SEC 8-K
- Results of operations; Regulation FD disclosure · SEC 8-K
- Material agreement; New financial obligation · SEC 8-K
- Material agreement · SEC 8-K