OneMain Holdings, Inc. (OMF) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+140.5%

$138.34

vs $57.52 price

Levered DCF

$629.61

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

0.88

Distress zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	10.25×	12.27×	9.2×	4.75×	5.05×	8.89×	6.71×	7.38×
P/B	2.36×	1.95×	1.86×	1.37×	2.15×	1.89×	1.32×	0.87×
P/S	1.29×	1.09×	1.12×	0.81×	1.33×	1.32×	1.22×	0.78×
EV / EBITDA	23.14×	28.83×	22.54×	15.47×	11.89×	17.74×	15.87×	19.49×
Gross margin	47.6%	43.6%	48.3%	54.9%	69.2%	52.4%	55.2%	54.7%
Operating margin	16.0%	11.7%	15.9%	22.7%	35.0%	19.8%	23.5%	14.7%
Net margin	12.5%	8.9%	12.1%	17.1%	26.4%	14.8%	18.3%	10.5%
Current ratio	0×	0×	0×	0×	0×	0×	0×	3.8×
Debt / equity	6.67×	6.72×	6.22×	6.06×	5.74×	5.17×	3.98×	4×
Interest coverage	0.79×	0.56×	0.82×	1.29×	1.86×	0.95×	1.13×	0.71×
Dividend yield	6.2%	8.0%	8.2%	11.6%	19.2%	12.4%	7.1%	0.0%
Payout ratio	63.7%	97.8%	76.0%	55.0%	97.0%	110.4%	47.7%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	23.0%	16.0%	20.1%	28.9%	42.5%	21.2%	19.7%	11.8%
Return on invested capital	2.9%	2.0%	2.6%	3.9%	6.0%	3.2%	3.7%	2.3%
Return on assets	2.9%	2.0%	2.6%	3.9%	6.0%	3.2%	3.7%	2.2%
Free cash flow yield	39.0%	43.3%	42.5%	57.7%	33.9%	34.1%	41.2%	62.1%
Earnings yield	9.8%	8.2%	10.8%	21.1%	19.8%	11.3%	14.9%	13.6%
Enterprise value	$29.8B	$27.2B	$24.7B	$21.9B	$23.8B	$22B	$21.7B	$17.8B
Net debt / EBITDA	16.91×	22.22×	17.14×	12.55×	8.58×	12.51×	11.68×	15.88×
Cash conversion cycle (days)	0	1,282	0	0	0	22	23	-2