Atlanticus Holdings Co. 6.125% Senior Notes due 2026 (ATLCL) Financials

$24.87 +0.03 (+0.12%)

Closing price 08/22/2025 03:56 PM Eastern

Extended Trading

$24.84 -0.03 (-0.12%)

As of 08/22/2025 04:10 PM Eastern

Annual Income Statements for Atlanticus Holdings Co. 6.125% Senior Notes due 2026

This table shows Atlanticus Holdings Co. 6.125% Senior Notes due 2026's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	7.18	1.71	-6.34	-13	7.86	25	77	156	111	78	87
Consolidated Net Income / (Loss)	7.33	1.71	-6.34	-41	7.61	26	94	178	135	102	110
Net Income / (Loss) Continuing Operations	7.33	1.71	-6.34	-13	90	26	94	178	135	102	110
Total Pre-Tax Income	-27	3.54	-12	-47	3.48	32	114	220	149	129	139
Total Revenue	169	152	116	135	242	407	400	442	387	356	416
Net Interest Income / (Expense)	50	52	68	115	124	293	374	495	747	807	880
Total Interest Income	74	70	89	115	161	344	426	549	829	916	1,040
Loans and Leases Interest Income	73	70	88	114	161	330	411	519	786	879	980
Other Interest Income	0.35	0.09	0.23	0.22	0.20	14	15	31	43	37	60
Total Interest Expense	24	18	20	0.00	37	51	52	54	82	109	160
Long-Term Debt Interest Expense	24	18	20	-	37	51	52	54	82	109	160
Total Non-Interest Income	120	100	47	21	118	114	25	-54	-360	-451	-464
Other Service Charges	96	59	22	14	112	112	134	194	217	239	270
Other Non-Interest Income	4.85	39	22	6.43	5.56	2.09	-109	-219	-577	-690	-733
Provision for Credit Losses	31	27	54	68	101	248	143	36	1.25	2.15	16
Total Non-Interest Expense	166	122	74	87	92	126	146	190	237	226	263
Salaries and Employee Benefits	20	20	24	23	23	26	29	34	43	44	50
Marketing Expense	2.38	2.24	4.90	13	12	36	35	57	62	52	56
Other Operating Expenses	75	59	31	50	37	63	81	98	130	127	154
Depreciation Expense	69	41	7.48	1.02	0.99	1.14	1.25	1.49	2.18	2.56	2.72
Nonoperating Income / (Expense), net	-	-	-	-	-	-	3.40	4.20	0.81	0.63	1.49
Income Tax Expense	-35	1.83	-6.02	-6.38	-4.13	5.55	20	42	15	27	28
Preferred Stock Dividends Declared	-	-	-	-	0.00	1.15	17	22	25	25	24
Net Income / (Loss) Attributable to Noncontrolling Interest	0.15	-0.01	-0.01	-0.09	-0.24	-0.23	-0.20	-0.11	-0.99	-0.89	-1.19
Basic Earnings per Share	$0.51	$0.12	($0.46)	($2.93)	$0.56	$1.74	$5.32	$10.32	$7.55	$5.35	$5.92
Weighted Average Basic Shares Outstanding	13.93M	13.90M	13.95M	15.36M	15.96M	15.92M	16.42M	14.88M	14.45M	14.61M	15.12M
Diluted Earnings per Share	$0.51	$0.12	($0.46)	($2.93)	$0.56	$1.66	$3.95	$7.56	$5.83	$4.24	$4.77
Weighted Average Diluted Shares Outstanding	13.93M	13.90M	13.95M	15.36M	15.96M	15.92M	16.42M	14.88M	14.45M	14.61M	15.12M
Weighted Average Basic & Diluted Shares Outstanding	13.93M	13.90M	13.95M	15.36M	15.96M	15.92M	16.42M	14.88M	14.45M	14.61M	15.12M

This table shows Atlanticus Holdings Co. 6.125% Senior Notes due 2026's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	26	18	20	19	19	20	20	18	23	26	28
Consolidated Net Income / (Loss)	32	24	26	25	25	26	26	24	29	31	31
Net Income / (Loss) Continuing Operations	32	24	26	25	25	26	26	24	29	31	31
Total Pre-Tax Income	39	30	34	32	32	31	33	29	37	40	41
Total Revenue	93	82	87	89	89	92	96	91	105	124	119
Net Interest Income / (Expense)	208	197	192	204	207	204	207	218	230	225	219
Total Interest Income	229	221	217	228	235	237	242	256	272	269	267
Loans and Leases Interest Income	218	212	210	220	225	225	230	242	255	252	248
Other Interest Income	11	8.78	6.92	7.84	10	12	12	14	17	18	19
Total Interest Expense	22	24	24	24	28	33	35	38	42	45	48
Long-Term Debt Interest Expense	22	24	24	24	28	33	35	38	42	45	48
Total Non-Interest Income	-115	-114	-105	-115	-118	-112	-111	-127	-125	-101	-100
Other Service Charges	49	48	44	63	60	72	48	60	79	84	78
Other Non-Interest Income	-164	-162	-150	-178	-178	-184	-159	-186	-204	-184	-178
Provision for Credit Losses	0.38	0.54	0.70	0.31	0.54	0.60	2.94	1.75	4.63	7.05	1.07
Total Non-Interest Expense	53	53	52	56	56	61	61	61	63	78	77
Salaries and Employee Benefits	10	11	11	11	11	11	13	12	12	13	16
Marketing Expense	11	11	10	14	13	15	10	14	15	17	20
Other Operating Expenses	31	30	31	31	32	34	36	35	35	47	41
Depreciation Expense	0.49	0.55	0.62	0.64	0.65	0.65	0.65	0.65	0.66	0.75	0.80
Nonoperating Income / (Expense), net	0.08	0.43	0.06	0.09	-0.01	0.49	0.53	0.38	0.27	0.31	0.29
Income Tax Expense	6.95	6.09	8.19	7.20	6.79	4.43	7.00	4.48	8.10	8.90	9.75
Preferred Stock Dividends Declared	6.30	6.32	6.23	6.29	6.34	6.34	6.29	6.31	6.32	5.01	3.57
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.20	-0.30	-0.32	-0.28	-0.27	-0.03	-0.35	-0.15	-0.35	-0.33	-0.40
Basic Earnings per Share	$1.81	$1.24	$1.38	$1.30	$1.30	$1.37	$1.35	$1.22	$1.58	$1.77	$1.85
Weighted Average Basic Shares Outstanding	14.45M	14.45M	14.46M	14.43M	14.59M	14.61M	14.79M	14.74M	14.74M	15.12M	15.13M
Diluted Earnings per Share	$1.41	$1.00	$1.08	$1.02	$1.03	$1.11	$1.09	$0.99	$1.27	$1.42	$1.49
Weighted Average Diluted Shares Outstanding	14.45M	14.45M	14.46M	14.43M	14.59M	14.61M	14.79M	14.74M	14.74M	15.12M	15.13M
Weighted Average Basic & Diluted Shares Outstanding	14.45M	14.45M	14.46M	14.43M	14.59M	14.61M	14.79M	14.74M	14.74M	15.12M	15.13M

This table details how cash moves in and out of Atlanticus Holdings Co. 6.125% Senior Notes due 2026's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-11	11	25	-22	71	35	83	248	-73	-50	116
Net Cash From Operating Activities	-21	0.86	39	-26	43	100	213	212	348	459	469
Net Cash From Continuing Operating Activities	-21	0.86	39	-26	144	100	213	212	348	459	468
Net Income / (Loss) Continuing Operations	7.33	1.71	-6.34	-41	7.61	26	94	178	135	102	110
Consolidated Net Income / (Loss)	7.33	1.71	-6.34	-41	7.61	26	94	178	135	102	110
Provision For Loan Losses	31	27	54	78	100	248	143	36	1.25	2.15	16
Depreciation Expense	68	41	7.48	1.02	0.99	7.69	7.95	2.49	4.85	4.04	5.19
Amortization Expense	-33	-40	-41	-58	-72	-112	-105	-161	-132	-16	-14
Non-Cash Adjustments to Reconcile Net Income	-53	-24	2.18	-9.09	1.29	-17	-9.38	22	21	-84	-113
Changes in Operating Assets and Liabilities, net	-40	-3.33	23	2.56	5.13	-54	82	135	318	451	463
Net Cash From Investing Activities	29	15	-76	-80	-135	-434	-293	-475	-682	-672	-747
Net Cash From Continuing Investing Activities	29	15	-76	-80	1,084	-434	-293	-475	-682	-672	-747
Purchase of Property, Leasehold Improvements and Equipment	-4.07	-0.88	-0.35	-0.40	-1.38	-0.25	-0.75	-	-4.85	-3.99	-1.79
Purchase of Investment Securities	-219	-271	-381	-467	-608	-1,099	-1,331	-2,026	-2,546	-2,516	-2,629
Sale and/or Maturity of Investments	244	276	296	383	472	664	1,039	1,550	1,869	1,848	1,884
Other Investing Activities, net	8.12	11	9.42	3.64	2.35	1.52	-	0.56	-	0.00	0.00
Net Cash From Financing Activities	-18	-3.57	63	85	162	369	162	510	261	163	394
Net Cash From Continuing Financing Activities	-18	-3.56	63	85	1,102	369	162	510	261	163	394
Issuance of Debt	116	165	242	325	632	873	588	1,066	681	955	1,029
Issuance of Preferred Equity	-	-	-	-	0.00	40	0.00	75	0.44	1.12	1.08
Issuance of Common Equity	-	-	-	-	-	-	-	-	-	0.00	7.07
Repayment of Debt	-134	-168	-178	-240	-470	-592	-460	-586	-310	-754	-566
Repurchase of Common Equity	-0.26	-0.26	-0.95	-0.39	-0.72	-2.52	-3.35	-25	-89	-18	-53
Payment of Dividends	-0.14	-0.00	-	-	-	0.00	-14	-22	-25	-25	-26
Other Financing Activities, Net	-	0.01	0.00	0.01	0.05	50	51	2.27	3.85	3.41	0.89
Effect of Exchange Rate Changes	-1.01	-0.72	-1.62	0.17	1.01	-0.35	0.02	-0.01	-0.04	0.00	0.00
Cash Interest Paid	24	18	19	25	33	46	47	48	75	99	146
Cash Income Taxes Paid	0.07	1.12	0.44	0.26	4.75	0.02	0.33	20	4.25	1.47	0.23

This table details how cash moves in and out of Atlanticus Holdings Co. 6.125% Senior Notes due 2026's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	20	47	1.32	-40	5.62	-16	99	-75	-22	115	-38
Net Cash From Operating Activities	93	102	102	108	117	133	119	116	112	123	132
Net Cash From Continuing Operating Activities	93	102	102	108	117	133	119	116	112	121	131
Net Income / (Loss) Continuing Operations	32	24	26	25	25	26	26	24	29	31	31
Consolidated Net Income / (Loss)	32	24	26	25	25	26	26	24	29	31	31
Provision For Loan Losses	0.38	0.54	0.70	0.31	0.54	0.60	2.94	1.75	4.63	7.05	1.07
Depreciation Expense	0.69	0.75	0.84	0.85	1.09	1.26	1.25	1.25	1.28	1.40	1.60
Amortization Expense	-39	-26	-33	-47	67	-3.67	-4.04	-46	64	-3.11	-3.13
Non-Cash Adjustments to Reconcile Net Income	0.72	22	0.75	0.85	404	-490	-17	0.30	456	-569	-24
Changes in Operating Assets and Liabilities, net	97	82	106	128	-381	598	110	134	-443	654	124
Net Cash From Investing Activities	-170	-158	-53	-188	-220	-211	-68	-197	-306	-176	-115
Net Cash From Continuing Investing Activities	-170	-158	-53	-188	-220	-211	-68	-197	-306	-176	-115
Purchase of Property, Leasehold Improvements and Equipment	-0.70	-3.55	-2.77	-1.03	-	-	-0.06	-0.07	-	-	-2.68
Purchase of Investment Securities	-653	-599	-545	-647	-672	-652	-560	-678	-764	-627	-621
Sale and/or Maturity of Investments	484	445	495	460	449	445	492	481	458	452	509
Other Investing Activities, net	-	-	-	-	-	-	0.00	-	-	-	0.00
Net Cash From Financing Activities	98	102	-47	40	108	62	47	6.43	171	168	-55
Net Cash From Continuing Financing Activities	98	102	-47	40	108	62	47	6.43	171	168	-55
Issuance of Debt	231	199	55	197	420	283	162	317	275	276	300
Issuance of Preferred Equity	0.19	0.25	1.07	0.04	0.01	-	1.07	-	-	0.01	0.31
Issuance of Common Equity	-	-	-	-	-	-	0.00	-	-	-	12
Repayment of Debt	-118	-91	-95	-148	-299	-212	-109	-303	-70	-85	-311
Repurchase of Common Equity	-11	-	-1.98	-2.99	-9.40	-3.31	-0.54	-1.27	-26	-25	-51
Payment of Dividends	-6.19	-6.23	-6.25	-6.18	-6.22	-6.26	-6.26	-6.24	-7.24	-6.00	-5.62
Other Financing Activities, Net	0.81	0.21	0.02	0.04	3.03	0.32	-0.15	0.05	0.03	0.96	0.41
Cash Interest Paid	20	22	23	22	25	29	33	32	40	41	43
Cash Income Taxes Paid	0.04	0.01	0.03	0.40	1.25	-0.22	-0.04	0.22	0.01	0.04	0.04

This table presents Atlanticus Holdings Co. 6.125% Senior Notes due 2026's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	268	281	363	426	583	936	1,207	1,944	2,388	2,706	3,271
Cash and Due from Banks	40	51	76	41	61	135	178	410	385	339	375
Restricted Cash	23	21	17	29	81	41	81	97	48	44	124
Loans and Leases, Net of Allowance	0.00	169	601	294	664	726	920	384	1,922	2,174	2,630
Loans and Leases	-	169	601	294	418	726	920	384	1,923	2,174	2,630
Premises and Equipment, Net	7.04	5.69	3.83	3.23	3.63	2.74	2.24	7.34	10	11	11
Other Assets	75	24	35	53	16	29	24	1,046	23	138	130
Total Liabilities & Shareholders' Equity	268	281	363	426	583	936	1,207	1,944	2,388	2,706	3,271
Total Liabilities	261	270	357	462	605	847	991	1,517	1,923	2,174	2,691
Long-Term Debt	200	196	254	337	499	777	910	1,422	1,798	2,006	2,481
Other Long-Term Liabilities	61	22	16	9.13	0.25	70	40	53	125	168	210
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	-	0.00	89	139	140	140	140	90
Total Equity & Noncontrolling Interests	7.44	11	5.78	-36	-22	0.34	77	287	325	392	489
Total Preferred & Common Equity	7.44	11	5.79	-36	-22	0.91	77	288	326	395	493
Preferred Stock	-	-	-	-	-	-	0.00	0.00	0.00	0.00	0.00
Total Common Equity	7.44	11	5.79	-36	-22	0.91	77	288	326	395	493
Common Stock	211	211	212	213	213	213	195	228	122	87	98
Retained Earnings	-201	-200	-206	-247	-239	-212	-118	60	204	307	395
Noncontrolling Interest	0.00	-0.01	-0.01	-0.09	-0.34	-0.57	-0.77	-0.50	-1.37	-2.26	-3.54

This table presents Atlanticus Holdings Co. 6.125% Senior Notes due 2026's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2022	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	6/30/2022	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	2,116	2,252	2,375	2,455	2,597	2,787	2,837	3,040	3,272
Cash and Due from Banks	316	353	390	343	356	445	351	309	350
Restricted Cash	50	34	45	52	44	37	56	76	111
Loans and Leases, Net of Allowance	1,703	1,817	0.00	1,916	2,050	2,151	0.00	2,512	2,669
Loans and Leases	1,703	1,817	-	1,916	2,050	2,151	-	2,512	2,669
Premises and Equipment, Net	6.79	7.00	12	13	12	11	10	9.68	12
Other Assets	40	41	1,929	132	135	143	2,420	134	130
Total Liabilities & Shareholders' Equity	2,116	2,252	2,375	2,455	2,597	2,787	2,837	3,040	3,272
Total Liabilities	1,687	1,806	1,891	1,953	2,082	2,234	2,266	2,471	2,703
Long-Term Debt	1,573	1,688	1,759	1,810	1,932	2,062	2,079	2,286	2,474
Other Long-Term Liabilities	67	75	131	96	102	113	187	184	229
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	140	140	140	140	140	140	140	115	40
Total Equity & Noncontrolling Interests	289	306	345	361	375	413	431	454	529
Total Preferred & Common Equity	290	307	346	363	377	416	434	458	533
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	290	307	346	363	377	416	434	458	533
Common Stock	142	127	116	108	96	89	89	89	110
Retained Earnings	148	180	231	256	281	327	345	368	423
Noncontrolling Interest	-0.98	-1.18	-1.69	-1.96	-2.23	-2.75	-2.91	-3.26	-3.86

This table displays calculated financial ratios and metrics derived from Atlanticus Holdings Co. 6.125% Senior Notes due 2026's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	40.84%	-10.26%	-23.98%	17.22%	78.70%	67.99%	-1.63%	10.41%	-12.31%	-7.97%	16.83%
EBITDA Growth	270.38%	-50.16%	-1,317.59%	-64.59%	70.28%	-219.86%	119.68%	300.89%	-62.86%	445.26%	11.21%
EBIT Growth	-19.87%	112.95%	-449.53%	-58.22%	349.91%	-34.99%	249.43%	94.05%	-31.07%	-13.83%	7.16%
NOPAT Growth	-19.87%	108.93%	-606.99%	-282.41%	123.01%	244.32%	247.67%	91.38%	-23.23%	-24.22%	7.36%
Net Income Growth	141.48%	-76.72%	-471.69%	-544.57%	118.62%	244.32%	258.33%	89.30%	-24.29%	-24.26%	8.00%
EPS Growth	139.53%	-76.47%	-483.33%	-536.96%	119.11%	196.43%	137.95%	91.39%	-22.88%	-27.27%	12.50%
Operating Cash Flow Growth	22.80%	104.17%	4,415.63%	-167.85%	261.90%	133.25%	112.81%	-0.17%	63.69%	32.13%	2.20%
Free Cash Flow Firm Growth	27.44%	-88.73%	-2,622.61%	-19.13%	-127.93%	-116.25%	53.81%	-226.58%	49.01%	37.58%	-136.24%
Invested Capital Growth	-16.47%	-0.36%	25.79%	15.67%	58.47%	81.83%	29.91%	64.24%	22.38%	12.20%	20.54%
Revenue Q/Q Growth	2.05%	-6.45%	-2.51%	17.24%	90.98%	-14.29%	-2.21%	8.69%	-10.34%	2.73%	8.41%
EBITDA Q/Q Growth	-38.34%	-66.48%	-32.79%	10.86%	81.39%	-182.84%	121.72%	39.46%	-54.87%	26.29%	2,781.92%
EBIT Q/Q Growth	2.20%	312.49%	-50.21%	43.89%	193.85%	-82.10%	130.06%	18.27%	-18.12%	0.68%	7.32%
NOPAT Q/Q Growth	2.20%	-95.64%	-50.21%	-54.04%	131.97%	-34.91%	30.85%	16.48%	-16.20%	2.55%	4.69%
Net Income Q/Q Growth	130.47%	-95.64%	-0.25%	-65.99%	119.04%	-50.65%	34.86%	15.01%	-16.27%	2.60%	4.46%
EPS Q/Q Growth	129.65%	-95.70%	-2.22%	-64.61%	123.33%	-48.45%	35.74%	15.24%	-16.24%	2.66%	6.95%
Operating Cash Flow Q/Q Growth	18.01%	109.30%	19.17%	-1,253.38%	366.09%	-12.88%	19.85%	3.92%	9.11%	7.16%	-2.10%
Free Cash Flow Firm Q/Q Growth	5.80%	-94.47%	-48.41%	10.96%	-126.00%	-23.68%	20.43%	-95.77%	51.37%	18.37%	-35.51%
Invested Capital Q/Q Growth	-1.66%	0.48%	7.57%	-0.79%	34.72%	25.93%	16.18%	32.16%	6.02%	3.74%	7.17%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	4.51%	2.50%	-40.09%	-56.29%	-9.36%	-17.82%	3.57%	12.95%	5.48%	32.49%	30.93%
EBIT Margin	-16.12%	2.33%	-10.69%	-14.44%	20.19%	7.81%	27.75%	48.78%	38.34%	35.90%	32.93%
Profit (Net Income) Margin	4.33%	1.12%	-5.49%	-30.18%	3.15%	6.45%	23.48%	40.26%	34.77%	28.61%	26.45%
Tax Burden Percent	-26.83%	48.26%	51.32%	86.50%	218.61%	82.52%	82.10%	80.97%	90.18%	79.31%	79.45%
Interest Burden Percent	100.00%	100.00%	100.00%	241.69%	7.13%	100.00%	103.07%	101.95%	100.54%	100.49%	101.09%
Effective Tax Rate	0.00%	51.74%	0.00%	0.00%	-118.61%	17.48%	17.90%	19.03%	9.82%	20.69%	20.55%
Return on Invested Capital (ROIC)	-8.39%	0.82%	-3.71%	-11.80%	1.96%	3.90%	9.15%	11.72%	6.51%	4.23%	3.89%
ROIC Less NNEP Spread (ROIC-NNEP)	3.44%	0.82%	-2.68%	-14.43%	1.96%	3.90%	9.48%	12.02%	6.56%	4.25%	3.94%
Return on Net Nonoperating Assets (RNNOA)	178.78%	17.73%	-72.11%	281.13%	-28.09%	74.04%	52.39%	43.57%	23.67%	16.21%	15.91%
Return on Equity (ROE)	170.40%	18.55%	-75.81%	269.34%	-26.13%	77.94%	61.54%	55.30%	30.18%	20.44%	19.80%
Cash Return on Invested Capital (CROIC)	9.56%	1.19%	-26.55%	-26.32%	-43.29%	-54.17%	-16.87%	-36.90%	-13.61%	-7.28%	-14.74%
Operating Return on Assets (OROA)	-8.80%	1.29%	-3.84%	-4.96%	9.69%	4.18%	10.36%	13.67%	6.85%	5.02%	4.59%
Return on Assets (ROA)	2.36%	0.62%	-1.97%	-10.37%	1.51%	3.45%	8.76%	11.28%	6.22%	4.00%	3.68%
Return on Common Equity (ROCE)	170.49%	18.56%	-75.89%	268.41%	-25.94%	-24.20%	15.76%	31.41%	20.78%	14.77%	15.81%
Return on Equity Simple (ROE_SIMPLE)	98.47%	15.57%	-109.57%	113.43%	-34.93%	2,892.94%	121.52%	61.73%	41.24%	25.83%	22.34%
Net Operating Profit after Tax (NOPAT)	-19	1.71	-8.65	-33	7.61	26	91	174	134	101	109
NOPAT Margin	-11.29%	1.12%	-7.49%	-24.42%	3.15%	6.45%	22.79%	39.49%	34.58%	28.47%	26.16%
Net Nonoperating Expense Percent (NNEP)	-11.82%	0.00%	-1.03%	2.64%	0.00%	0.00%	-0.33%	-0.29%	-0.05%	-0.03%	-0.05%
SG&A Expenses to Revenue	13.08%	14.51%	31.19%	26.45%	22.37%	15.40%	16.03%	20.53%	27.24%	27.03%	25.54%
Operating Expenses to Revenue	97.92%	80.17%	64.20%	64.11%	38.12%	31.09%	36.56%	42.97%	61.33%	63.49%	63.14%
Earnings before Interest and Taxes (EBIT)	-27	3.54	-12	-20	49	32	111	215	148	128	137
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	7.63	3.80	-46	-76	-23	-72	14	57	21	116	129
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.40	4.05	6.83	0.00	0.00	157.82	5.09	3.74	1.16	1.43	1.67
Price to Tangible Book Value (P/TBV)	4.40	4.05	6.83	0.00	0.00	157.82	5.09	3.74	1.16	1.43	1.67
Price to Revenue (P/Rev)	0.19	0.29	0.34	0.25	0.23	0.35	0.98	2.44	0.98	1.58	1.97
Price to Earnings (P/E)	4.56	25.92	0.00	0.00	7.12	5.65	5.10	6.92	3.42	7.26	9.41
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	21.91%	3.86%	0.00%	0.00%	14.04%	17.69%	19.60%	14.45%	29.20%	13.76%	10.63%
Enterprise Value to Invested Capital (EV/IC)	0.81	0.81	0.77	0.99	0.87	0.96	1.05	1.15	0.83	0.92	0.94
Enterprise Value to Revenue (EV/Rev)	1.00	1.10	1.74	2.21	1.70	2.05	2.96	4.83	4.86	6.52	6.94
Enterprise Value to EBITDA (EV/EBITDA)	22.08	44.09	0.00	0.00	0.00	0.00	82.94	37.27	88.61	20.08	22.44
Enterprise Value to EBIT (EV/EBIT)	0.00	47.45	0.00	0.00	8.44	26.20	10.66	9.89	12.67	18.17	21.08
Enterprise Value to NOPAT (EV/NOPAT)	0.00	98.32	0.00	0.00	54.19	31.75	12.98	12.22	14.05	22.91	26.53
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	194.14	5.14	0.00	9.62	8.33	5.56	10.03	5.41	5.06	6.16
Enterprise Value to Free Cash Flow (EV/FCFF)	7.73	68.30	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	26.88	17.88	44.01	-9.32	-22.54	8.70	4.22	3.33	3.87	3.77	4.28
Long-Term Debt to Equity	26.88	17.88	44.01	-9.32	-22.54	8.70	4.22	3.33	3.87	3.77	4.28
Financial Leverage	52.00	21.52	26.90	-19.48	-14.34	18.97	5.53	3.63	3.61	3.81	4.04
Leverage Ratio	72.16	29.85	38.46	-25.97	-17.31	22.58	7.02	4.90	4.86	5.11	5.38
Compound Leverage Factor	72.16	29.85	38.46	-62.76	-1.23	22.58	7.24	5.00	4.88	5.13	5.43
Debt to Total Capital	96.41%	94.70%	97.78%	112.01%	104.64%	89.69%	80.83%	76.90%	79.45%	79.02%	81.07%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	96.41%	94.70%	97.78%	112.01%	104.64%	89.69%	80.83%	76.90%	79.45%	79.02%	81.07%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	-0.03%	-0.07%	10.21%	12.31%	7.53%	6.12%	5.44%	2.83%
Common Equity to Total Capital	3.59%	5.30%	2.23%	-11.98%	-4.57%	0.10%	6.87%	15.58%	14.43%	15.55%	16.11%
Debt to EBITDA	26.20	51.46	-5.49	-4.42	-22.01	-10.73	63.81	24.87	84.67	17.33	19.27
Net Debt to EBITDA	17.79	32.43	-3.48	-3.49	-15.75	-8.29	45.65	16.01	64.26	14.01	15.39
Long-Term Debt to EBITDA	26.20	51.46	-5.49	-4.42	-22.01	-10.73	63.81	24.87	84.67	17.33	19.27
Debt to NOPAT	-10.46	114.74	-29.39	-10.19	65.52	29.65	9.99	8.15	13.43	19.77	22.78
Net Debt to NOPAT	-7.10	72.30	-18.62	-8.04	46.88	22.92	7.14	5.25	10.19	15.99	18.19
Long-Term Debt to NOPAT	-10.46	114.74	-29.39	-10.19	65.52	29.65	9.99	8.15	13.43	19.77	22.78
Noncontrolling Interest Sharing Ratio	-0.06%	-0.04%	-0.11%	0.34%	0.74%	131.05%	74.38%	43.19%	31.13%	27.72%	20.18%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	22	2.46	-62	-74	-168	-364	-168	-549	-280	-175	-413
Operating Cash Flow to CapEx	-509.69%	97.74%	11,179.08%	-6,701.27%	3,098.77%	39,985.20%	28,402.40%	0.00%	7,164.67%	11,505.94%	26,238.40%
Free Cash Flow to Firm to Interest Expense	0.91	0.13	-3.07	0.00	-4.56	-7.17	-3.26	-10.14	-3.42	-1.60	-2.58
Operating Cash Flow to Interest Expense	-0.86	0.05	1.93	0.00	1.16	1.97	4.13	3.92	4.25	4.20	2.93
Operating Cash Flow Less CapEx to Interest Expense	-1.03	0.00	1.91	0.00	1.12	1.97	4.11	3.94	4.19	4.16	2.92
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.55	0.55	0.36	0.34	0.48	0.54	0.37	0.28	0.18	0.14	0.14
Fixed Asset Turnover	21.20	23.89	24.28	38.38	70.62	127.79	160.67	92.23	44.64	33.21	37.91
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	207	207	260	301	477	867	1,126	1,849	2,263	2,539	3,060
Invested Capital Turnover	0.74	0.73	0.50	0.48	0.62	0.61	0.40	0.30	0.19	0.15	0.15
Increase / (Decrease) in Invested Capital	-41	-0.75	53	41	176	390	259	723	414	276	522
Enterprise Value (EV)	169	168	201	299	412	832	1,183	2,131	1,882	2,325	2,890
Market Capitalization	33	44	40	33	56	143	393	1,076	378	564	822
Book Value per Share	$0.54	$0.79	$0.42	($2.60)	($1.42)	$0.06	$4.84	$19.08	$22.60	$27.06	$33.44
Tangible Book Value per Share	$0.54	$0.79	$0.42	($2.60)	($1.42)	$0.06	$4.84	$19.08	$22.60	$27.06	$33.44
Total Capital	207	207	260	301	477	867	1,126	1,849	2,263	2,539	3,060
Total Debt	200	196	254	337	499	777	910	1,422	1,798	2,006	2,481
Total Long-Term Debt	200	196	254	337	499	777	910	1,422	1,798	2,006	2,481
Net Debt	136	123	161	266	357	601	651	915	1,364	1,622	1,981
Capital Expenditures (CapEx)	4.07	0.88	0.35	0.40	1.38	0.25	0.75	-1.10	4.85	3.99	1.79
Net Nonoperating Expense (NNE)	-26	0.00	-2.31	7.80	0.00	0.00	-2.79	-3.40	-0.73	-0.50	-1.18
Net Nonoperating Obligations (NNO)	200	196	254	337	499	777	910	1,422	1,798	2,006	2,481
Total Depreciation and Amortization (D&A)	35	0.27	-34	-57	-72	-104	-97	-158	-127	-12	-8.33
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.51	$0.12	($0.46)	($2.93)	$0.56	$1.74	$5.32	$10.32	$0.00	$5.35	$5.92
Adjusted Weighted Average Basic Shares Outstanding	13.93M	13.90M	13.95M	15.36M	15.96M	15.92M	16.42M	14.88M	0.00	14.61M	15.12M
Adjusted Diluted Earnings per Share	$0.51	$0.12	($0.46)	($2.93)	$0.56	$1.66	$3.95	$7.56	$0.00	$4.24	$4.77
Adjusted Weighted Average Diluted Shares Outstanding	13.93M	13.90M	13.95M	15.36M	15.96M	15.92M	16.42M	14.88M	0.00	14.61M	15.12M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	13.93M	13.90M	13.95M	15.36M	15.96M	15.92M	16.42M	14.88M	0.00	14.61M	15.12M
Normalized Net Operating Profit after Tax (NOPAT)	-19	2.47	-8.65	-33	2.44	26	91	174	134	101	109
Normalized NOPAT Margin	-11.29%	1.63%	-7.49%	-24.42%	1.01%	6.45%	22.79%	39.49%	34.58%	28.47%	26.16%
Pre Tax Income Margin	-16.12%	2.33%	-10.69%	-34.89%	1.44%	7.81%	28.60%	49.73%	38.55%	36.08%	33.29%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-1.14	0.19	-0.61	0.00	1.32	0.63	2.15	3.98	1.81	1.17	0.86
NOPAT to Interest Expense	-0.79	0.09	-0.43	0.00	0.21	0.52	1.77	3.22	1.64	0.93	0.68
EBIT Less CapEx to Interest Expense	-1.30	0.14	-0.63	0.00	1.29	0.62	2.14	4.00	1.75	1.13	0.84
NOPAT Less CapEx to Interest Expense	-0.96	0.04	-0.45	0.00	0.17	0.51	1.75	3.24	1.58	0.89	0.67
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	1.95%	0.12%	0.00%	0.00%	0.00%	0.00%	14.44%	12.27%	18.42%	24.43%	23.38%
Augmented Payout Ratio	5.46%	15.30%	-14.97%	-0.95%	9.50%	9.60%	18.01%	26.45%	84.54%	41.77%	71.22%

This table displays calculated financial ratios and metrics derived from Atlanticus Holdings Co. 6.125% Senior Notes due 2026's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-20.49%	-35.13%	-19.27%	-14.96%	-4.26%	11.46%	10.37%	3.08%	17.95%	35.14%	24.03%
EBITDA Growth	105.98%	-87.48%	-82.83%	-621.98%	7,393.04%	652.34%	126.96%	-14.97%	2.16%	36.17%	32.36%
EBIT Growth	-32.17%	-52.82%	-9.45%	-24.53%	-19.04%	2.94%	-5.10%	-11.61%	16.53%	30.94%	25.66%
NOPAT Growth	-31.37%	-52.59%	-42.15%	-26.37%	-22.68%	10.73%	-1.74%	-3.81%	16.01%	18.88%	21.65%
Net Income Growth	-31.27%	-52.47%	-42.14%	-26.58%	-22.85%	10.90%	-0.29%	-2.77%	16.88%	17.88%	20.54%
EPS Growth	-28.06%	-53.05%	-44.90%	-30.14%	-26.95%	11.00%	0.93%	-2.94%	23.30%	27.93%	36.70%
Operating Cash Flow Growth	525.44%	39.77%	25.94%	50.42%	25.61%	30.08%	16.81%	6.99%	-3.85%	-7.59%	10.75%
Free Cash Flow Firm Growth	-83.53%	42.08%	41.11%	55.17%	59.04%	35.89%	12.06%	-10.81%	-31.83%	-96.12%	-14.88%
Invested Capital Growth	52.55%	22.38%	22.95%	15.44%	14.66%	12.20%	16.53%	14.66%	16.69%	20.54%	16.37%
Revenue Q/Q Growth	-11.10%	-11.09%	5.42%	2.05%	0.09%	3.52%	4.39%	-4.69%	14.52%	18.60%	-4.19%
EBITDA Q/Q Growth	-51.70%	176.57%	-37.56%	-725.83%	793.36%	-72.23%	-9.65%	-417.02%	716.11%	-62.99%	3.15%
EBIT Q/Q Growth	-7.25%	-25.19%	15.91%	-6.16%	-0.51%	-4.88%	6.86%	-12.60%	31.16%	6.88%	2.56%
NOPAT Q/Q Growth	-3.88%	-27.72%	10.71%	-4.27%	0.93%	3.51%	-1.75%	-6.28%	21.73%	6.06%	0.54%
Net Income Q/Q Growth	-4.22%	-26.82%	9.30%	-4.17%	0.64%	5.21%	-1.73%	-6.55%	20.98%	6.11%	0.49%
EPS Q/Q Growth	-3.42%	-29.08%	8.00%	-5.56%	0.98%	7.77%	-1.80%	-9.17%	28.28%	11.81%	4.93%
Operating Cash Flow Q/Q Growth	29.47%	9.63%	-0.29%	6.28%	8.12%	13.52%	-10.46%	-2.65%	-2.84%	9.11%	7.32%
Free Cash Flow Firm Q/Q Growth	-10.84%	44.46%	-0.69%	27.67%	-1.29%	13.08%	-38.11%	8.86%	-20.49%	-29.31%	19.10%
Invested Capital Q/Q Growth	6.61%	6.02%	-0.82%	2.98%	5.89%	3.74%	3.01%	1.33%	7.77%	7.17%	-0.56%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	1.44%	4.48%	2.65%	-16.28%	112.75%	30.25%	5.46%	-18.15%	97.66%	30.48%	32.81%
EBIT Margin	42.31%	35.60%	39.14%	35.99%	35.78%	32.87%	33.66%	30.86%	35.35%	31.85%	34.10%
Profit (Net Income) Margin	34.91%	28.73%	29.79%	27.97%	28.13%	28.59%	26.91%	26.39%	27.87%	24.94%	26.15%
Tax Burden Percent	82.33%	79.54%	75.98%	77.51%	78.64%	85.57%	78.67%	84.35%	78.28%	77.69%	76.15%
Interest Burden Percent	100.20%	101.46%	100.17%	100.27%	99.98%	101.62%	101.65%	101.35%	100.73%	100.77%	100.72%
Effective Tax Rate	17.67%	20.46%	24.02%	22.49%	21.36%	14.43%	21.33%	15.65%	21.72%	22.31%	23.85%
Return on Invested Capital (ROIC)	8.51%	5.33%	5.36%	4.54%	4.26%	4.18%	3.98%	3.86%	4.01%	3.68%	4.03%
ROIC Less NNEP Spread (ROIC-NNEP)	8.52%	5.35%	5.36%	4.54%	4.26%	4.20%	4.00%	3.88%	4.02%	3.69%	4.04%
Return on Net Nonoperating Assets (RNNOA)	26.99%	19.32%	18.93%	16.51%	16.05%	16.00%	14.73%	14.06%	15.63%	14.89%	16.34%
Return on Equity (ROE)	35.51%	24.66%	24.28%	21.05%	20.31%	20.18%	18.71%	17.92%	19.64%	18.57%	20.37%
Cash Return on Invested Capital (CROIC)	-32.57%	-13.61%	-14.93%	-9.40%	-9.34%	-7.28%	-11.12%	-9.63%	-11.48%	-14.74%	-11.08%
Operating Return on Assets (OROA)	9.78%	6.36%	6.68%	5.52%	5.12%	4.60%	4.76%	4.29%	4.82%	4.44%	4.94%
Return on Assets (ROA)	8.07%	5.14%	5.08%	4.29%	4.02%	4.00%	3.81%	3.67%	3.80%	3.47%	3.79%
Return on Common Equity (ROCE)	23.88%	16.98%	16.78%	14.78%	14.46%	14.58%	13.74%	13.32%	15.12%	14.82%	17.22%
Return on Equity Simple (ROE_SIMPLE)	52.29%	0.00%	33.41%	29.38%	26.37%	0.00%	24.49%	23.33%	23.03%	0.00%	21.66%
Net Operating Profit after Tax (NOPAT)	32	23	26	25	25	26	25	24	29	31	31
NOPAT Margin	34.83%	28.32%	29.74%	27.90%	28.13%	28.13%	26.48%	26.03%	27.67%	24.74%	25.97%
Net Nonoperating Expense Percent (NNEP)	0.00%	-0.02%	0.00%	0.00%	0.00%	-0.02%	-0.02%	-0.02%	-0.01%	-0.01%	-0.01%
SG&A Expenses to Revenue	23.09%	26.34%	24.17%	28.31%	26.99%	28.55%	24.74%	27.94%	25.92%	24.07%	30.12%
Operating Expenses to Revenue	57.28%	63.74%	60.05%	63.66%	63.62%	66.47%	63.28%	67.23%	60.23%	62.48%	65.01%
Earnings before Interest and Taxes (EBIT)	39	29	34	32	32	30	32	28	37	40	41
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1.34	3.70	2.31	-14	100	28	5.24	-17	102	38	39
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.24	1.16	1.13	1.67	1.16	1.43	1.04	0.96	1.13	1.67	1.45
Price to Tangible Book Value (P/TBV)	1.24	1.16	1.13	1.67	1.16	1.43	1.04	0.96	1.13	1.67	1.45
Price to Revenue (P/Rev)	0.88	0.98	1.07	1.73	1.26	1.58	1.18	1.13	1.35	1.97	1.76
Price to Earnings (P/E)	2.78	3.42	4.27	7.34	5.80	7.26	5.58	5.43	6.38	9.41	8.10
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	35.94%	29.20%	23.39%	13.62%	17.23%	13.76%	17.93%	18.40%	15.67%	10.63%	12.34%
Enterprise Value to Invested Capital (EV/IC)	0.85	0.83	0.83	0.94	0.86	0.92	0.82	0.84	0.89	0.94	0.93
Enterprise Value to Revenue (EV/Rev)	4.21	4.86	5.06	6.16	6.08	6.52	5.88	6.05	6.59	6.94	6.42
Enterprise Value to EBITDA (EV/EBITDA)	38.68	88.61	183.61	0.00	22.99	20.08	0.00	0.00	0.00	22.44	20.41
Enterprise Value to EBIT (EV/EBIT)	10.04	12.67	12.80	16.06	16.59	18.17	17.03	18.17	19.81	21.08	19.41
Enterprise Value to NOPAT (EV/NOPAT)	11.39	14.05	16.12	20.34	21.31	22.91	21.28	22.25	24.32	26.53	24.66
Enterprise Value to Operating Cash Flow (EV/OCF)	5.71	5.41	5.03	5.34	4.92	5.06	4.51	4.60	5.28	6.16	5.85
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	3.78	3.87	3.63	3.61	3.75	3.77	3.72	3.64	4.02	4.28	4.35
Long-Term Debt to Equity	3.78	3.87	3.63	3.61	3.75	3.77	3.72	3.64	4.02	4.28	4.35
Financial Leverage	3.17	3.61	3.53	3.64	3.77	3.81	3.68	3.62	3.89	4.04	4.04
Leverage Ratio	4.41	4.86	4.79	4.91	5.05	5.11	4.97	4.93	5.20	5.38	5.40
Compound Leverage Factor	4.42	4.93	4.79	4.93	5.05	5.19	5.05	5.00	5.24	5.42	5.44
Debt to Total Capital	79.10%	79.45%	78.40%	78.30%	78.97%	79.02%	78.83%	78.44%	80.06%	81.07%	81.31%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	79.10%	79.45%	78.40%	78.30%	78.97%	79.02%	78.83%	78.44%	80.06%	81.07%	81.31%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	6.50%	6.12%	6.16%	5.98%	5.64%	5.44%	5.26%	5.19%	3.91%	2.83%	1.19%
Common Equity to Total Capital	14.41%	14.43%	15.44%	15.72%	15.40%	15.55%	15.91%	16.37%	16.03%	16.11%	17.51%
Debt to EBITDA	35.88	84.67	174.12	-254.87	21.08	17.33	-429.40	-298.56	-476.21	19.27	17.89
Net Debt to EBITDA	27.66	64.26	131.12	-199.32	16.72	14.01	-328.94	-240.08	-396.08	15.39	14.55
Long-Term Debt to EBITDA	35.88	84.67	174.12	-254.87	21.08	17.33	-429.40	-298.56	-476.21	19.27	17.89
Debt to NOPAT	10.57	13.43	15.28	17.03	19.53	19.77	20.41	20.78	21.97	22.78	21.62
Net Debt to NOPAT	8.15	10.19	11.51	13.32	15.49	15.99	15.64	16.71	18.28	18.19	17.59
Long-Term Debt to NOPAT	10.57	13.43	15.28	17.03	19.53	19.77	20.41	20.78	21.97	22.78	21.62
Noncontrolling Interest Sharing Ratio	32.74%	31.13%	30.89%	29.76%	28.79%	27.72%	26.57%	25.69%	23.03%	20.18%	15.48%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-703	-390	-393	-284	-288	-250	-346	-315	-380	-491	-397
Operating Cash Flow to CapEx	13,328.65%	2,870.53%	3,678.05%	10,463.60%	0.00%	0.00%	185,618.75%	172,601.49%	0.00%	0.00%	4,911.24%
Free Cash Flow to Firm to Interest Expense	-32.67	-16.26	-16.22	-11.74	-10.18	-7.67	-9.86	-8.30	-8.93	-10.99	-8.35
Operating Cash Flow to Interest Expense	4.32	4.25	4.20	4.46	4.13	4.07	3.39	3.05	2.64	2.74	2.77
Operating Cash Flow Less CapEx to Interest Expense	4.29	4.10	4.08	4.42	4.13	4.07	3.39	3.05	2.64	2.74	2.71
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.23	0.18	0.17	0.15	0.14	0.14	0.14	0.14	0.14	0.14	0.15
Fixed Asset Turnover	108.12	44.64	38.61	36.27	36.48	33.21	31.75	32.26	35.41	37.91	37.79
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,134	2,263	2,244	2,311	2,447	2,539	2,615	2,650	2,856	3,060	3,043
Invested Capital Turnover	0.24	0.19	0.18	0.16	0.15	0.15	0.15	0.15	0.14	0.15	0.16
Increase / (Decrease) in Invested Capital	735	414	419	309	313	276	371	339	409	522	428
Enterprise Value (EV)	1,820	1,882	1,855	2,161	2,108	2,325	2,149	2,226	2,531	2,890	2,822
Market Capitalization	380	378	392	608	437	564	432	417	517	822	773
Book Value per Share	$21.23	$22.60	$23.97	$25.12	$26.11	$27.06	$28.47	$29.33	$31.04	$33.44	$35.22
Tangible Book Value per Share	$21.23	$22.60	$23.97	$25.12	$26.11	$27.06	$28.47	$29.33	$31.04	$33.44	$35.22
Total Capital	2,134	2,263	2,244	2,311	2,447	2,539	2,615	2,650	2,856	3,060	3,043
Total Debt	1,688	1,798	1,759	1,810	1,932	2,006	2,062	2,079	2,286	2,481	2,474
Total Long-Term Debt	1,688	1,798	1,759	1,810	1,932	2,006	2,062	2,079	2,286	2,481	2,474
Net Debt	1,301	1,364	1,325	1,415	1,532	1,622	1,579	1,671	1,902	1,981	2,013
Capital Expenditures (CapEx)	0.70	3.55	2.77	1.03	0.00	0.00	0.06	0.07	0.00	0.00	2.68
Net Nonoperating Expense (NNE)	-0.07	-0.34	-0.04	-0.07	0.00	-0.42	-0.42	-0.32	-0.21	-0.24	-0.22
Net Nonoperating Obligations (NNO)	1,688	1,798	1,759	1,810	1,932	2,006	2,062	2,079	2,286	2,481	2,474
Total Depreciation and Amortization (D&A)	-38	-26	-32	-46	68	-2.42	-27	-45	65	-1.71	-1.53
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.81	$1.24	$1.38	$1.30	$1.30	$1.37	$1.35	$1.22	$1.58	$1.77	$1.85
Adjusted Weighted Average Basic Shares Outstanding	14.45M	14.45M	14.46M	14.43M	14.59M	14.61M	14.79M	14.74M	14.74M	15.12M	15.13M
Adjusted Diluted Earnings per Share	$1.41	$1.00	$1.08	$1.02	$1.03	$1.11	$1.09	$0.99	$1.27	$1.42	$1.49
Adjusted Weighted Average Diluted Shares Outstanding	14.45M	14.45M	14.46M	14.43M	14.59M	14.61M	14.79M	14.74M	14.74M	15.12M	15.13M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	14.45M	14.45M	14.46M	14.43M	14.59M	14.61M	14.79M	14.74M	14.74M	15.12M	15.13M
Normalized Net Operating Profit after Tax (NOPAT)	32	23	26	25	25	26	25	24	29	31	31
Normalized NOPAT Margin	34.83%	28.32%	29.74%	27.90%	28.13%	28.13%	26.48%	26.03%	27.67%	24.74%	25.97%
Pre Tax Income Margin	42.40%	36.12%	39.21%	36.09%	35.77%	33.41%	34.21%	31.28%	35.60%	32.10%	34.34%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.82	1.22	1.40	1.32	1.12	0.93	0.92	0.74	0.87	0.89	0.85
NOPAT to Interest Expense	1.50	0.97	1.07	1.02	0.88	0.79	0.72	0.63	0.68	0.69	0.65
EBIT Less CapEx to Interest Expense	1.79	1.07	1.29	1.28	1.12	0.93	0.92	0.74	0.87	0.89	0.80
NOPAT Less CapEx to Interest Expense	1.47	0.82	0.95	0.98	0.88	0.79	0.72	0.63	0.68	0.69	0.59
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	15.42%	18.42%	21.62%	23.28%	25.04%	24.43%	24.46%	24.69%	24.66%	23.38%	21.75%
Augmented Payout Ratio	82.87%	84.54%	43.89%	38.17%	39.50%	41.77%	40.40%	39.04%	54.03%	71.22%	111.33%

Key Financial Trends

Atlanticus Holdings Corp (NASDAQ: ATLCP) has shown consistent financial performance over the last four years with steady growth in key financial metrics. Below is an analysis highlighting important trends and notable changes based on the quarterly financial data from Q2 2022 through Q1 2025.

Steady increase in Loans and Leases Interest Income: Loan interest income rose from $191.5M in Q2 2022 to $247.7M in Q1 2025, indicating growth in the company's lending operations over time.
Rising Net Interest Income: Net interest income increased from $185.0M in Q2 2022 to $219.0M in Q1 2025, reflecting improved profitability in core lending activities.
Consistent Net Income Growth: Net income attributable to common shareholders grew from $17.97M in Q2 2024 to $27.95M in Q1 2025, marking a continuation of positive earnings momentum.
Stable Earnings Per Share (EPS): Diluted EPS improved from $1.02 in Q2 2023 to $1.49 in Q1 2025, showing enhanced shareholder value despite a fairly stable share count.
Increasing Total Assets: Total assets grew from approximately $2.1B in Q2 2022 to over $3.2B in Q1 2025, indicating asset base expansion which may support future growth.
Growth in Long-Term Debt: Long-term debt has increased from $1.57B in Q2 2022 to $2.47B in Q1 2025, suggesting Atlanticus is leveraging debt to finance expansion or operations.
High and Negative Other Non-Interest Income: This category has consistently shown large negative values (e.g., -$178M in Q1 2025), which offsets positive revenues and could indicate write-downs or losses from non-core activities.
Amortization Expense Volatility: Amortization expenses showed significant variation quarter-to-quarter, such as a large negative adjustment in Q1 2025 (-$3.13M) versus much higher charges in prior periods, indicating possible one-time or deferred costs affecting net cash from operations.
Changes in Operating Assets and Liabilities: These changes frequently contributed significant cash inflows (e.g., $124M in Q1 2025), suggesting operational working capital management plays an important role in cash flow fluctuations.
Higher Provision for Credit Losses recently: The provision increased to over $1.06M in Q1 2025 from lower amounts in prior quarters (e.g., $0.54M in Q4 2022), which could signal rising credit risk impacting profitability.
Large Repayments and Repurchases: The company made substantial debt repayments (e.g., -$310.7M in Q1 2025) and repurchased common equity (-$51.2M in Q1 2025), which, while possibly beneficial for capital structure, represent significant cash outlays.
Increasing Marketing and Other Operating Expenses: Marketing expense rose to $20.3M in Q1 2025 from $10.5M in Q4 2022, and other operating expenses also increased to $40.7M from roughly $30.3M in Q4 2022, indicating higher operational costs that may pressure margins if revenue growth does not keep pace.

Summary: Atlanticus has demonstrated steady growth in lending interest income and net interest income, which translates into rising net income and EPS. The asset base and debt levels have expanded significantly, highlighting a growth strategy funded by leverage. However, the persistent negative non-interest income and rising credit loss provisions emphasize the need to monitor potential risks in non-core operations and credit quality. Increased expenses in marketing and operations could pressure profitability if not matched by revenue growth. Overall, the company shows positive earnings and asset trends offset by watchpoints on cost and credit issues.

08/23/25 11:22 PMAI Generated. May Contain Errors.

Frequently Asked Questions About Atlanticus Holdings Co. 6.125% Senior Notes due 2026's Financials

When does Atlanticus Holdings Co. 6.125% Senior Notes due 2026's financial year end?

According to the most recent income statement we have on file, Atlanticus Holdings Co. 6.125% Senior Notes due 2026's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Atlanticus Holdings Co. 6.125% Senior Notes due 2026's net income changed over the last 10 years?

Atlanticus Holdings Co. 6.125% Senior Notes due 2026's net income appears to be on an upward trend, with a most recent value of $110.11 million in 2024, rising from $7.33 million in 2014. The previous period was $101.95 million in 2023.

How has Atlanticus Holdings Co. 6.125% Senior Notes due 2026's revenue changed over the last 10 years?

Over the last 10 years, Atlanticus Holdings Co. 6.125% Senior Notes due 2026's total revenue changed from $169.35 million in 2014 to $416.31 million in 2024, a change of 145.8%.

How much debt does Atlanticus Holdings Co. 6.125% Senior Notes due 2026 have?

Atlanticus Holdings Co. 6.125% Senior Notes due 2026's total liabilities were at $2.69 billion at the end of 2024, a 23.8% increase from 2023, and a 931.5% increase since 2014.

How much cash does Atlanticus Holdings Co. 6.125% Senior Notes due 2026 have?

In the past 10 years, Atlanticus Holdings Co. 6.125% Senior Notes due 2026's cash and equivalents has ranged from $39.93 million in 2014 to $409.66 million in 2021, and is currently $375.42 million as of their latest financial filing in 2024.

How has Atlanticus Holdings Co. 6.125% Senior Notes due 2026's book value per share changed over the last 10 years?

Over the last 10 years, Atlanticus Holdings Co. 6.125% Senior Notes due 2026's book value per share changed from 0.54 in 2014 to 33.44 in 2024, a change of 6,151.0%.

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This page (NASDAQ:ATLCL) was last updated on 8/23/2025 by MarketBeat.com Staff

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Atlanticus Holdings Co. 6.125% Senior Notes due 2026 (ATLCL) Financials

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Atlanticus Holdings Co. 6.125% Senior Notes due 2026 (ATLCL) Financials

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Quarterly Income Statements for Atlanticus Holdings Co. 6.125% Senior Notes due 2026

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Quarterly Cash Flow Statements for Atlanticus Holdings Co. 6.125% Senior Notes due 2026

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Quarterly Balance Sheets for Atlanticus Holdings Co. 6.125% Senior Notes due 2026

Annual Metrics And Ratios for Atlanticus Holdings Co. 6.125% Senior Notes due 2026

Quarterly Metrics And Ratios for Atlanticus Holdings Co. 6.125% Senior Notes due 2026

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