Atlanticus Holdings Corp financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Atlanticus Holdings Corp files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue		5.27	5.56	455	563	748	1,047	1,156	1,311	1,968
Cost of revenue	30.7	31.5	37.1	49.5	63	75.4	95.4	101	118	161
Gross profit		-26.3	-31.6	406	500	673	951	1,055	1,193	1,808
Selling and marketing	4.9	13.1	12.1	36.4	35	56.6	62.4	52.4	56.2	113
Interest expense	20.2	27.7	36.9	50.7	51.5	54.1	81.9	109	160	302
Other non-operating income	0.2	-2.06	0.1	-0.47	3.4	4.2	0.81	0.63	1.49	0.04
Pre-tax income	-12.4	-47.3	3.48	31.8	114	220	149	129	139	160
Income tax	-6.02	-6.38	-4.13	5.55	20.5	41.8	14.7	26.6	28.5	39.1
Net income to minority interests	-0.01	-0.09	-0.24	-0.23	-0.2	-0.11	-0.99	-0.89	-1.19	-1.6
Net income	-6.34	-40.8	7.86	26.4	94.1	178	136	103	111	122
EPS, basic	-0.46	-2.93	0.56	1.74	5.32	10.32	7.55	5.35	5.92	7.40
EPS, diluted	-0.46	-2.93	0.56	1.66	3.95	7.56	5.83	4.24	4.77	5.96
Shares, basic (weighted)	13.9	13.9	13.9	14.5	14.5	15.1	14.6	14.5	14.7	15.1
Shares, diluted (weighted)	13.9	13.9	14	15.3	20.1	20.9	19.4	18.9	18.8	19.2

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	92.6	70.7						339	375	621
Property, plant and equipment	3.83	3.23	3.63	2.74	2.24	7.34	10	11.4	10.5	12.6
Lease right-of-use assets				14.1	9.18	4.02	11.8	11.3	13.9	15.1
Intangible assets									0	30.3
Total assets	363	426	583	936	1,207	1,944	2,388	2,706	3,271	7,623
Total liabilities	357	462	605	847	991	1,517	1,923	2,174	2,691	6,979
Paid-in capital	212	213	213	213	195	228	122	87.4	98.3	102
Retained earnings	-206	-247	-239	-212	-118	60.2	204	307	395	506
Treasury stock					0
Other comprehensive income	0	-2.18	3.56
Shareholders' equity	5.79	-36	-21.8	0.91	77.3	288	326	395	493	609
Minority interests	-0.01	-0.09	-0.34	-0.57	-0.77	-0.5	-1.37	-2.26	-3.54	-4.87
Total equity	5.78	-36.1	-22.1	0.34	76.5	287	325	392	489	604
Total liabilities and equity	363	426	583	936	1,207	1,944	2,388	2,706	3,271	7,623
Shares outstanding	15.3	15.3	15.6	15.9	16.1	14.8	14.5	14.6	14.9	14.9

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-6.34	-40.9	7.61	26.2	93.9	178	135	102	110	121
Depreciation and amortization	2.2	1.02	0.99	7.69	7.95	2.49	4.85	4.04	5.19	9.9
Stock-based compensation		1.53	1.32	1.71	1.36	3.24	4.17	3.78	3.9	4.3
Deferred income tax							21	37.8	30.5	38.7
Change in payables	41.4	22.3	-5.41	-52.7	-3.1	6.01	4.26	18.4	-1.06	-23.2
Cash from operations	39	-26.5	42.9	100	213	212	348	459	469	638
Capital expenditures	-0.35	-0.4	-1.38	-0.25	-0.75
Acquisitions									0	-72.9
Cash from investing	-75.8	-80.3	-135	-434	-293	-475	-682	-672	-747	-1,512
Debt issued	242	325	632	873	588	143	0	0	135	426
Debt repaid	-178	-240	-470	-592	-460	-586	-310	-754	-566	-2,731
Stock issued	0.01		0.05	1.22	1.33	1.89	3.73	0	7.07	11.6
Share buybacks	-0.95	-0.39	-0.72	-2.52	-3.35	-25.2	-89	-17.7	-52.7	-69.6
Cash from financing	63.5	84.6	162	369	162	510	261	163	394	1,142
Exchange rate effect	-1.62	0.17	1.01	-0.35	0.02	-0.01
Net change in cash	25	-22	71.1	34.6	82.6	248	-73.4	-49.5	116	268
Free cash flow	38.7	-26.9	41.5	99.7	212
Interest paid	19.5	25.5	33.5	46.3	46.5	47.6	75.4	99.5	146	268
Income taxes paid	0.44	0.26	4.75	0.02	0.33	19.9	4.25	1.47	0.23	1.03

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $92.50 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	92.6%	Gross profit / revenue.
Pre-tax margin	7.7%	Pre-tax income / revenue.
Net margin	5.8%	Net income / revenue.
Operating cash flow margin	35.3%	Cash from operations / revenue.
Effective tax rate	24.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	21.9%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.1%	Net income / average total assets.
Stock-based pay / revenue	0.3%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	0.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	50.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	23.4%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	28.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	51.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	23.9%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	29.3%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	9.8%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-3.4%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	5.4%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	24.9%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	0.7%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	8.6%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	35.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	22.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	24.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	23.5%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	23.1%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	51.1%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	133.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	47.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	44.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	2.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.3%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-0.9%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	90.2%	Total liabilities / total assets.
Goodwill and intangibles / assets	0.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	$676.7M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.35x	Revenue / average total assets.
Fixed asset turnover	244x	Revenue / average property, plant and equipment.

Per share

Metric	Value	How it is calculated
EPS, diluted	$8.03	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$138.40	Revenue / diluted weighted shares.
Operating cash flow per share	$48.88	Cash from operations / diluted weighted shares.
Book value per share	$46.27	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$44.61	Tangible book value / shares outstanding.
Cash per share	$36.60	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$1.40B	Share price x shares outstanding.
Enterprise value	$848.0M	Market cap + total debt - cash - short-term investments.
P/E	9.11x	Market cap / net income. Only when net income is positive.
P/S	0.53x	Market cap / revenue.
P/B	2.00x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.07x	Market cap / tangible book value, when positive.
P/OCF	1.50x	Market cap / cash from operations, when positive.
EV/Sales	0.32x	Enterprise value / revenue.
Earnings yield	11.0%	Net income / market cap (the inverse of P/E).
Shareholder yield	1.4%	(Dividends paid + share buybacks) / market cap.
PEG	12.3x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Atlanticus Holdings Corp's revenue in fiscal 2025?

Atlanticus Holdings Corp reported revenue of $1.97B for fiscal 2025, 50.1% higher than the year before.

Was Atlanticus Holdings Corp profitable in fiscal 2025?

Yes. Net income was $122.2M, a net margin of 6.2%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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