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OPFI Stock Analysis: Top Micro-Cap Hold (Score 50.6/100) | Blank Capital Research | Blank Capital Research
OPFI
OppFi Inc.
$8.20
+0.04 (+0.49%)
Score50.6
Data as of Apr 6, 2026
OPFI
OppFi Inc.
FinancialsBanking
$8.20
+0.04 (+0.49%)
Open $8.19High $8.23Low $8.04Prev $8.16Vol ---52W: $7.54 – $15.03
Hold
Composite score
01234567890123456789.0123456789
Global rank
#1,323
Percentile
Top 30%
Business quality
83rd
percentile
Exceptional capital efficiency and structural profitability. This enterprise generates superior returns on invested capital compared to industry peers.
Relative valuation derived from Financials sector median benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Multiples adjusted for extreme outliers and non-recurring volatility.
Auditing capital efficiency...
Quality Profile Audit
Score: 82.7GRADE A
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation.
Return on Equity
Profit generated per dollar of shareholder equity
45.3%
Sector: 8.5%
Dividend Analysis audit
INCOME
3.27%
Trailing Yield
$3.27
Per $100 Invested
Solid dividend yield for income-focused strategies.
Est. Payout Ratio
5%SAFE
Analyst Projections
Analyst Consensus
Unlock Valuation Tools
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Based on our 6-factor quantitative model, OppFi Inc. (OPFI) receives a "Hold" rating with a composite score of 50.6/100, ranked #1323 out of 4446 stocks. Key factor scores: Quality 83/100, Value 81/100, Momentum 24/100. This is quantitative analysis only — not investment advice.
OppFi Inc. (OPFI) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does OppFi Inc. Do?
OppFi Inc. operates a financial technology platform that allows banks to offer lending products. Its platform facilitates the OppLoan, an installment loan product; SalaryTap, a payroll deduction secured installment loan product; and OppFi Card, a credit card product. The company is based in Chicago, Illinois. OppFi Inc. (OPFI) is classified as a micro-cap stock in the Financials sector, specifically within the Banking industry. The company is led by CEO Todd G. Schwartz and employs approximately 570 people. With a market capitalization of $200M, OPFI is one of the notable companies in the Financials sector.
OppFi Inc. (OPFI) Stock Rating — Hold (April 2026)
As of April 2026, OppFi Inc. receives a Hold rating with a composite score of 50.6/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.OPFI ranks #1,323 out of 4,446 stocks in our coverage universe. Within the Financials sector, OppFi Inc. ranks #401 of 891 stocks, placing it in the upper half of its Financials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
OPFI Stock Price and 52-Week Range
OppFi Inc. (OPFI) currently trades at $8.20. The stock gained $0.04 (0.5%) in the most recent trading session. The 52-week high for OPFI is $15.03, which means the stock is currently trading -45.4% from its annual peak. The 52-week low is $7.54, putting the stock 8.8% above its annual trough. Recent trading volume was 412K shares, suggesting relatively thin trading activity.
Is OPFI Overvalued or Undervalued? — Valuation Analysis
OppFi Inc. (OPFI) carries a value factor score of 81/100 in the Blank Capital model, suggesting the stock trades at a meaningful discount to its fundamental earning power. The trailing price-to-earnings ratio is 1.49x, compared to the Financials sector average of 14.88x — a discount of 90%. The price-to-book ratio stands at 0.67x, versus the sector average of 1.22x. The price-to-sales ratio is 0.54x, compared to 0.90x for the average Financials stock. On an enterprise value basis, OPFI trades at 1.17x EV/EBITDA, versus 3.26x for the sector.
Based on these multiples, OppFi Inc. appears attractively valued relative to both its sector peers and the broader market. Value-oriented investors may find the current entry point compelling, particularly if the company's fundamental quality metrics also score well.
OppFi Inc. Profitability — ROE, Margins, and Quality Score
OppFi Inc. (OPFI) earns a quality factor score of 83/100, reflecting elite profitability and capital efficiency that places it among the highest-quality businesses in the market. The return on equity (ROE) is 45.3%, compared to the Financials sector average of 8.5%, which demonstrates strong shareholder value creation. Return on assets (ROA) comes in at 18.6% versus the sector average of 1.2%.
On a margin basis, OppFi Inc. reports gross margins of 89.9%. The operating margin is 44.1% (sector: 21.8%). Net profit margin stands at 35.4%, versus 17.7% for the average Financials stock. Revenue growth is running at 21.2% on a trailing basis, compared to 9.4% for the sector. These metrics collectively paint a picture of a highly profitable business with durable competitive advantages.
OPFI Debt, Balance Sheet, and Financial Health
OppFi Inc. has a debt-to-equity ratio of 144.0%, compared to the Financials sector average of 121.0%. Leverage is within a manageable range for the industry, though investors should monitor debt trends over time. The current ratio is 1.69x, suggesting adequate working capital coverage. Total debt on the balance sheet is $321M. Cash and equivalents stand at $45M.
OPFI has a beta of 1.42, meaning it is more volatile than the broader market — a $10,000 investment in OPFI would be expected to move 42.4% more than the S&P 500 on any given day. The stability factor score for OppFi Inc. is 42/100, reflecting average volatility within the normal range for its sector.
OppFi Inc. Revenue and Earnings History — Quarterly Trend
In TTM 2026, OppFi Inc. reported revenue of $387M and earnings per share (EPS) of $0.99. Net income for the quarter was $140M. Gross margin was 89.9%. Operating income came in at $171M.
In FY 2025, OppFi Inc. reported revenue of $381M and earnings per share (EPS) of $0.99. Net income for the quarter was $146M. Revenue grew 18.6% year-over-year compared to FY 2024. Operating income came in at $167M.
In Q3 2025, OppFi Inc. reported revenue of $105M and earnings per share (EPS) of $1.48. Net income for the quarter was $76M. Revenue grew 14.7% year-over-year compared to Q3 2024. Operating income came in at $48M.
In Q2 2025, OppFi Inc. reported revenue of $100M and earnings per share (EPS) of $-0.78. Net income for the quarter was $11M. Revenue grew 16.2% year-over-year compared to Q2 2024. Operating income came in at $45M.
Over the past 8 quarters, OppFi Inc. has demonstrated a growth trajectory, with revenue expanding from $86M to $387M. Investors analyzing OPFI stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
OPFI Dividend Yield and Income Analysis
OppFi Inc. (OPFI) currently pays a dividend yield of 3.3%. At this yield, a $10,000 investment in OPFI stock would generate approximately $$327.00 in annual dividend income. This compares to the Financials sector average dividend yield of 2.5%, meaning OPFI offers above-average income for its sector. With a net margin of 35.4%, the dividend appears well-covered by earnings, suggesting sustainable payouts going forward.
OPFI Momentum and Technical Analysis Profile
OppFi Inc. (OPFI) has a momentum factor score of 24/100, signaling weak relative price performance. Stocks with low momentum scores have historically tended to continue underperforming in the near term. The investment factor score is 26/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 8/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.
OPFI vs Competitors — Financials Sector Ranking and Peer Comparison
Comparing OPFI against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full OPFI vs S&P 500 (SPY) comparison to assess how OppFi Inc. stacks up against the broader market across all factor dimensions.
OPFI Next Earnings Date
No upcoming earnings date has been announced for OppFi Inc. (OPFI) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy OPFI? — Investment Thesis Summary
OppFi Inc. presents a balanced picture with arguments on both sides. The quality score of 83/100 indicates above-average profitability and business fundamentals. The value score of 81/100 suggests attractive pricing relative to fundamentals. Momentum is weak at 24/100, a headwind for near-term performance.
In summary, OppFi Inc. (OPFI) earns a Hold rating with a composite score of 50.6/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on OPFI stock.
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Institutional Research Dossier
OppFi Inc. (OPFI) Deep Dive Analysis
Published on March 24, 2026
Action RatingHold
Sections
Executive Summary
We maintain a Hold rating on OppFi Inc. (OPFI). While the company exhibits strong profitability metrics and trades at a significant discount to its sector on valuation multiples, concerns regarding its high debt levels, negative free cash flow, and the inherent risks associated with subprime lending temper our enthusiasm. The company's future success hinges on its ability to navigate the complex regulatory landscape and maintain its impressive growth trajectory while improving its capital structure.
OppFi's focus on providing financial services to the underbanked population presents both an opportunity and a challenge. The underserved market offers a large potential customer base, but also carries higher credit risks and increased regulatory scrutiny. The company's ability to effectively manage these risks and continue to innovate its product offerings will be crucial in determining its long-term performance and justifying a more bullish outlook.
Business Strategy & Overview
OppFi operates a fintech platform facilitating lending products to the underbanked population, a segment often overlooked by traditional financial institutions. The company doesn't directly originate loans; instead, it partners with banks who utilize OppFi's platform to offer installment loans (OppLoan), payroll deduction secured installment loans (SalaryTap), and credit cards (OppFi Card). This model allows OppFi to operate as a service provider, generating revenue through fees and interest rate sharing arrangements with its bank partners. This strategy is designed to mitigate some of the direct regulatory burdens associated with being a lender.
The company's strategic positioning centers on leveraging technology to provide accessible and transparent financial solutions to a demographic with limited access to traditional credit. OppFi emphasizes responsible lending practices and aims to help its customers improve their financial health. This includes offering financial literacy resources and reporting payment history to credit bureaus, which can help customers build or rebuild their credit scores. The company's focus on customer experience and responsible lending is intended to differentiate it from predatory lenders and build long-term customer relationships.
OppFi's product pipeline appears to be focused on expanding its existing offerings and exploring new avenues to serve the underbanked market. This could include developing new loan products, expanding its credit card program, or offering additional financial services such as savings accounts or insurance products. The company's ability to innovate and adapt to changing market conditions will be critical to its long-term success. Furthermore, maintaining strong relationships with its bank partners is paramount to its continued operation and growth.
The industry context for OppFi is characterized by increasing demand for alternative financial services, driven by the growing number of underbanked and unbanked individuals. However, the industry is also subject to intense regulatory scrutiny, particularly concerning interest rates, fees, and lending practices. OppFi must navigate this complex regulatory landscape effectively to avoid legal challenges and maintain its reputation. Competition in the alternative lending space is also intensifying, with new fintech companies and established players vying for market share. OppFi's ability to differentiate itself through superior technology, customer service, and responsible lending practices will be crucial in maintaining its competitive edge.
Execution Benchmarks audit
Revenue Growth
YOY expansion rate
21.2%
Sector: 9.4%
+126% VS SCTR
Economic Moat Analysis
OppFi's economic moat is likely narrow. While the company has established a presence in the underserved market and developed a proprietary technology platform, its competitive advantages are not insurmountable. The primary sources of its moat are switching costs and intangible assets, though their strength is debatable.
Switching costs for borrowers in the subprime lending market are relatively low. Customers can easily switch to alternative lenders if they find better terms or a more convenient experience. OppFi's ability to retain customers depends on its ability to offer competitive rates, excellent customer service, and a seamless user experience. The company's focus on responsible lending and financial literacy may also contribute to customer loyalty, but these factors are not necessarily unique to OppFi.
OppFi's intangible assets include its brand reputation and its proprietary technology platform. The company has built a reputation for responsible lending and transparency, which may attract customers who are wary of predatory lenders. Its technology platform enables it to efficiently process loan applications, manage risk, and provide a user-friendly experience. However, these intangible assets are not necessarily difficult to replicate. Competitors can invest in building their own technology platforms and developing their own brands.
The company does not appear to possess significant cost advantages or benefit from efficient scale. While its technology platform may enable it to operate more efficiently than some traditional lenders, it does not have a clear cost advantage over other fintech companies in the alternative lending space. The market for subprime lending is also fragmented, with many small and medium-sized players competing for market share. This makes it difficult for any single company to achieve significant economies of scale.
Network effects are not a significant factor in OppFi's business model. The value of its platform does not increase significantly as more customers join the network. While the company may benefit from word-of-mouth referrals, these are not strong enough to create a significant network effect.
Overall, OppFi's economic moat is narrow. While the company has some competitive advantages, they are not strong enough to protect it from competition in the long run. The company's ability to maintain its profitability and growth will depend on its ability to continuously innovate, improve its customer experience, and manage risk effectively.
Financial Health & Profitability
OppFi's financial health presents a mixed picture. The company has demonstrated strong revenue growth and profitability in recent years, but its high debt levels and negative free cash flow raise concerns about its long-term sustainability. The TTM revenue of $381.18M represents a significant increase from $321.48M in FY2024 and $273.18M in FY2023, indicating a robust growth trajectory. Net income has also improved substantially, from $39.48M in FY2023 to $83.84M in FY2024 and $146.25M TTM. This translates to impressive net margins, significantly higher than the sector average.
The company's profitability metrics are also strong. Its ROE of 45.3% is significantly higher than the sector average of 8.5%, indicating that it is effectively utilizing equity to generate profits. Its operating margin of 44.1% and net margin of 35.4% are also significantly higher than the sector averages of 22.0% and 17.8%, respectively. These metrics suggest that OppFi has a strong competitive advantage in terms of profitability.
However, OppFi's balance sheet is highly leveraged. Its total debt of $320.84M is significantly higher than its total cash of $45.45M, resulting in a high debt-to-equity ratio of 144.00, compared to the sector average of 115.00. This high level of debt could make the company vulnerable to economic downturns or unexpected financial challenges. The current ratio of 1.69 indicates that the company has sufficient liquid assets to cover its short-term liabilities.
The most concerning aspect of OppFi's financial health is its negative free cash flow of $-6.73M. This indicates that the company is not generating enough cash from its operations to cover its capital expenditures and other cash outflows. This could be due to the company's rapid growth, which requires significant investments in technology and marketing. However, it also raises concerns about the company's ability to sustain its growth in the long run. The quarterly financial history does not provide FCF data, making it difficult to assess trends in cash flow generation.
The quarterly financial history reveals a generally positive trend in revenue and net income. However, the EPS figures are volatile, with negative EPS reported in Q1 and Q2 of FY2025. This volatility could be due to various factors, such as changes in interest rates, loan loss provisions, or operating expenses. The operating margin has remained relatively stable across the quarters, indicating that the company is effectively managing its costs.
In summary, OppFi's financial health is characterized by strong revenue growth and profitability, but also by high debt levels and negative free cash flow. The company needs to improve its cash flow generation and reduce its debt burden to ensure its long-term sustainability. While the high ROE and margins are attractive, the leverage and FCF issues warrant caution.
Valuation Assessment
OppFi's valuation appears attractive based on several key metrics, but a deeper analysis is warranted given the inherent risks associated with its business model. The company's P/E ratio of 8.0x is significantly lower than the sector average of 15.5x, suggesting that the stock is undervalued relative to its earnings. Similarly, its EV/EBITDA ratio of 0.3x is substantially lower than the sector average of 3.5x, further indicating undervaluation. These metrics suggest that investors are not fully appreciating the company's earnings potential.
However, it's crucial to consider the company's growth rate when assessing its valuation. OppFi's revenue growth of 21.2% is significantly higher than the sector average of 9.3%, indicating that the company is growing at a faster pace than its peers. This high growth rate could justify a higher valuation multiple. A simple PEG ratio (P/E divided by growth rate) would be below 1, suggesting undervaluation, but this is a simplistic view.
The negative free cash flow is a significant concern that could be weighing on the company's valuation. Investors may be hesitant to pay a premium for a company that is not generating positive free cash flow. The lack of FCF data in the quarterly history makes it difficult to assess whether this is a temporary issue or a persistent problem.
The high debt levels could also be contributing to the company's low valuation. Investors may be concerned about the company's ability to service its debt, particularly in a rising interest rate environment. The high debt-to-equity ratio suggests that the company is highly leveraged, which could increase its financial risk.
It's also important to consider the inherent risks associated with the subprime lending market. OppFi's target market is the underbanked population, which is more likely to experience financial difficulties and default on their loans. This higher credit risk could be weighing on the company's valuation. Regulatory scrutiny of the subprime lending industry could also be a factor.
Overall, OppFi's valuation appears attractive based on its P/E and EV/EBITDA ratios, but a deeper analysis is warranted given its negative free cash flow, high debt levels, and the inherent risks associated with its business model. The market may be discounting the stock due to these concerns. A fair valuation would likely fall somewhere between the current depressed multiples and the sector averages, reflecting both the company's growth potential and its risks. A more bullish stance would require evidence of improved cash flow generation and debt reduction.
Risk & Uncertainty
OppFi faces several specific risks that could negatively impact its business and financial performance. The most significant risk is regulatory scrutiny. The subprime lending industry is subject to intense regulation at both the state and federal levels. Changes in regulations could restrict the company's ability to offer its products, increase its compliance costs, or limit its profitability. For example, stricter interest rate caps or restrictions on fees could significantly reduce the company's revenue. The Consumer Financial Protection Bureau (CFPB) has been actively investigating and regulating the subprime lending industry, and further enforcement actions could pose a significant risk to OppFi.
Competition is another significant risk. The alternative lending space is becoming increasingly crowded, with new fintech companies and established players vying for market share. OppFi faces competition from other online lenders, payday lenders, and traditional financial institutions. Increased competition could lead to lower interest rates, higher marketing costs, and reduced profitability. The company's ability to differentiate itself through superior technology, customer service, and responsible lending practices will be crucial in maintaining its competitive edge.
Credit risk is inherent in OppFi's business model. The company targets the underbanked population, which is more likely to experience financial difficulties and default on their loans. Higher default rates could lead to increased loan loss provisions and reduced profitability. The company's ability to effectively manage credit risk through its underwriting process and collection efforts is critical to its financial performance. Economic downturns could exacerbate credit risk and lead to a significant increase in defaults.
Concentration risk is also a concern. OppFi relies on a limited number of bank partners to originate its loans. The loss of one or more of these bank partners could significantly disrupt the company's business. The company's ability to maintain strong relationships with its bank partners is crucial to its continued operation. Changes in the banks' lending policies or regulatory requirements could also impact OppFi's business.
Finally, the company's high debt levels pose a financial risk. The company's ability to service its debt depends on its ability to generate sufficient cash flow. Economic downturns or unexpected financial challenges could make it difficult for the company to meet its debt obligations. The high debt-to-equity ratio increases the company's financial risk and could limit its ability to invest in growth opportunities.
Bulls Say / Bears Say
The Bull Case
BULL VIEWOppFi's focus on the underserved market provides a large and growing opportunity, and its superior technology platform allows it to efficiently serve this demographic with responsible lending products.
BULL VIEWThe company's high profitability metrics, including its ROE and margins, demonstrate its ability to generate strong returns and create shareholder value, justifying a premium valuation.
BULL VIEWOppFi's strategic partnerships with banks provide a stable and scalable business model, mitigating regulatory risks and allowing the company to focus on its core competencies.
The Bear Case
BEAR VIEWOppFi's high debt levels and negative free cash flow raise concerns about its long-term financial sustainability, making it vulnerable to economic downturns and regulatory changes.
BEAR VIEWThe subprime lending industry is subject to intense regulatory scrutiny, and OppFi's business model could be significantly impacted by stricter regulations or enforcement actions.
BEAR VIEWThe company's reliance on a limited number of bank partners creates concentration risk, and the loss of one or more of these partners could significantly disrupt its operations.
About the Author
Marques Blank
Founder & Chief Investment Officer, Blank Capital
Marques brings 15 years of institutional finance and investing experience, having overseen financial planning for a $1.6B defense business unit. He developed the proprietary 6-factor quantitative model used to score OPFI and 4,400+ other equities.
OppFi Inc. exhibits a 60% valuation discount relative to institutional benchmarks. This represents a constructive entry window based on current multiples.
Return on Assets
Efficiency of asset utilization
18.6%
Sector: 1.2%
Gross Margin
Pricing power and cost efficiency
89.9%
Sector: 0.0%
Operating Margin
Core business profitability
44.1%
Sector: 21.8%
Net Margin
Bottom-line profitability
35.4%
Sector: 17.7%
Factor Methodology
The Quality factor evaluates the persistence and magnitude of cash flows. Companies with scores >70 exhibit superior competitive moats and financial resilience through economic cycles.
Sector Avg Yield2.48%
Yield Delta+32%
Income Projection audit
A $10,000 investment would generate approximately $327 annually in dividends at the current trailing rate.
