ONEMAIN HOLDINGS, INC. REPORTS SECOND QUARTER 2025 RESULTS

Malaysian Reserve

3 days ago

2Q 2025 Diluted EPS of $1.40
2Q 2025 C&I adjusted diluted EPS of $1.45
2Q 2025 Managed receivables of $25.2 billion
Declared quarterly dividend of $1.04 per share
NEW YORK, July 25, 2025 /PRNewswire/ — OneMain Holdings, Inc. (NYSE: OMF), the leader in offering nonprime consumers responsible access to credit, today reported pretax income of $214 million and net income of $167 million for the second quarter of 2025, compared to $92 million and $71 million, respectively, in the prior year quarter. Earnings per diluted share were $1.40 in the second quarter of 2025, compared to $0.59 in the prior year quarter.
On July 25, 2025, OneMain declared a quarterly dividend of $1.04 per share, payable on August 13, 2025, to record holders of the Company's common stock as of the close of business on August 4, 2025.
During the quarter, the Company repurchased approximately 460 thousand shares of common stock for $21 million.
'OneMain's strong financial results in the first half of 2025 reflect the strength of our business model and our disciplined approach to underwriting,' said Doug Shulman, Chairman and CEO of OneMain. 'With solid growth in high-quality originations, continued credit improvement, disciplined balance sheet management and execution of our strategic initiatives, we continue to create shareholder value.'
The following segment results are reported on a non-GAAP basis. Refer to the required reconciliations of non-GAAP to comparable GAAP measures at the end of this press release.
Consumer and Insurance Segment ('C&I')
C&I adjusted pretax income was $231 million and adjusted net income was $173 million for the second quarter of 2025, compared to $163 million and $122 million, respectively, in the prior year quarter. Adjusted earnings per diluted share were $1.45 for the second quarter of 2025, compared to $1.02 in the prior year quarter.
Management runs the business based on capital generation, which it defines as C&I adjusted net income excluding the after-tax change in C&I allowance for finance receivable losses while still considering the current period C&I net charge-offs. Capital generation was $222 million for the second quarter 2025, compared to $136 million in the prior year quarter. The increase was driven by receivable growth and improved credit performance in the current quarter compared to the prior year period.
Managed receivables, which includes loans serviced for our whole loan sale partners and auto finance loans originated by third parties, were $25.2 billion at June 30, 2025, up 7% from $23.7 billion at June 30, 2024.
Consumer loan originations totaled $3.9 billion in the second quarter of 2025, up 9% from $3.6 billion in the prior year quarter.
Total revenue, comprising interest income and total other revenue, was $1.5 billion in the second quarter of 2025, up 10% from $1.4 billion in the prior year quarter. Interest income in the second quarter of 2025 was $1.3 billion, up 10% from $1.2 billion in the prior year quarter. The increase was driven by receivable growth and improved portfolio yield.
Interest expense was $317 million in the second quarter of 2025, up 7% from $295 million in the prior year quarter, due to an increase in average debt to support our receivables growth and a higher average cost of funds.
The provision for finance receivable losses was $511 million in the second quarter of 2025, down $4 million compared to the prior year period. During the second quarter of 2025, the allowance for finance receivable losses increased $65 million driven by growth in receivables.
C&I Select Delinquency and Loss Ratios
June 30, 2025
March 31, 2025
June 30, 2024
‌
Consumer loans:
30+ days delinquency ratio
5.17 %
5.16 %
5.45 %
90+ days delinquency ratio
2.12 %
2.38 %
2.33 %
30-89 days delinquency ratio
3.05 %
2.77 %
3.13 %
Net charge-offs
7.19 %
7.83 %
8.29 %
Operating expense for the second quarter of 2025 was $415 million, up 11% from $374 million in the prior year quarter reflecting receivable growth and our strategic investments in the business.
Funding and Liquidity
As of June 30, 2025, the Company had principal debt balances outstanding of $22.4 billion, 57% of which was secured. The Company had $769 million of cash and cash equivalents, which included $185 million of cash and cash equivalents held at regulated insurance subsidiaries or for other operating activities that are unavailable for general corporate purposes.
Cash and cash equivalents, together with the Company's $1.1 billion of undrawn committed capacity from an unsecured corporate revolver, $6.4 billion of undrawn committed capacity under revolving conduit facilities and credit card variable funding note facilities, and $9.7 billion of unencumbered receivables, provides significant liquidity resources.
Conference Call & Webcast Information
OneMain management will host a conference call and webcast to discuss the Company's results, outlook, and related matters at 9:00 am Eastern Time on Friday, July 25, 2025. Both the call and webcast are open to the general public. The general public is invited to listen to the call by dialing 800-579-2568 (U.S. domestic) or 785-424-1222 (international), and using conference ID 67083, or via a live audio webcast through OneMain's investor relations website at http://investor.onemainfinancial.com. For those unable to listen to the live broadcast, a replay will be available on the website after the event. An investor presentation will be available on the OneMain's investor relations website prior to the start of the conference call.
About OneMain Holdings, Inc.
OneMain Financial (NYSE: OMF) is the leader in offering nonprime consumers responsible access to credit and is dedicated to improving the financial well-being of hardworking Americans. We empower our customers to solve today's problems and reach a better financial future through personalized solutions across 47 states, available online and in 1,300 locations. OneMain is committed to making a positive impact on the people and the communities we serve. For additional information, please visit www.OneMainFinancial.com.
Use of Non-GAAP Financial Measures
We report the operating results of Consumer and Insurance using the Segment Accounting Basis, which (i) reflects our allocation methodologies for interest expense and operating costs, to reflect the manner in which we assess our business results and (ii) excludes the impact of applying purchase accounting (eliminates premiums/discounts on our finance receivables and long-term debt at acquisition, as well as the amortization/accretion in future periods). Consumer and Insurance adjusted pretax income (loss), Consumer and Insurance adjusted net income (loss), and Consumer and Insurance adjusted earnings (loss) per diluted share are key performance measures used to evaluate the performance of our business. Consumer and Insurance adjusted pretax income (loss) represents income (loss) before income taxes on a Segment Accounting Basis and excludes net loss resulting from repurchases and repayments of debt, restructuring charges, acquisition-related transaction and integration expenses, regulatory settlements, and strategic activities and other items. We believe these non-GAAP financial measures are useful in assessing the profitability of our segment.
We also use pretax capital generation and capital generation, non-GAAP financial measures, as a key performance measure of our segment. Pretax capital generation represents Consumer and Insurance adjusted pretax income, as discussed above, and excludes the change in our Consumer and Insurance allowance for finance receivable losses in the period while still considering the Consumer and Insurance net charge-offs incurred during the period. Capital generation represents the after-tax effect of pretax capital generation. We believe that these non-GAAP measures are useful in assessing the capital created in the period impacting the overall capital adequacy of the Company. We believe that the Company's reserves, combined with its equity, represent the Company's loss absorption capacity.
We utilize these non-GAAP measures in evaluating our performance. Additionally, these non-GAAP measures are consistent with the performance goals established in OMH's executive compensation program. These non-GAAP financial measures should be considered supplemental to, but not as a substitute for or superior to, income (loss) before income taxes, net income, or other measures of financial performance prepared in accordance with GAAP.
This document contains summarized information concerning the Company and its business, operations, financial performance and trends. No representation is made that the information in this document is complete. For additional financial, statistical and business related information see the Company's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission (the 'SEC'), as well as the Company's other reports filed with the SEC from time to time, which are or will be available in the Investor Relations section of the OneMain Financial website (www.omf.com) and the SEC's website (www.sec.gov).
Cautionary Note Regarding Forward-Looking StatementsThis document contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Statements preceded by, followed by or that otherwise include the words 'anticipates,' 'appears,' 'assumes,' 'believes,' 'can,' 'continues,' 'could,' 'estimates,' 'expects,' 'forecasts,' 'foresees,' 'goal,' 'intends,' 'likely,' 'objective,' 'plans,' 'projects,' 'target,' 'trend,' 'remains,' and similar expressions or future or conditional verbs such as 'could,' 'may,' 'might,' 'should,' 'will' or 'would' are intended to identify forward-looking statements, but these words are not the exclusive means of identifying forward-looking statements.
Forward-looking statements are not statements of historical fact but instead represent only management's current beliefs regarding future events, objectives, goals, projections, strategies, performance, and future plans, and underlying assumptions and other statements related thereto. You should not place undue reliance on these forward-looking statements. By their nature, forward-looking statements are subject to risks, uncertainties, assumptions and other important factors that may cause actual results, performance or achievements to differ materially from those expressed in or implied by such forward-looking statements. Important factors that could cause actual results, performance, or achievements to differ materially from those expressed in or implied by forward-looking statements include, without limitation, the following: adverse changes and volatility in general economic conditions, including the interest rate environment and the financial markets; the sufficiency of our allowance for finance receivable losses; increased levels of unemployment and personal bankruptcies; the current inflationary environment and related trends affecting our customers; natural or accidental events such as earthquakes, hurricanes, pandemics, floods or wildfires affecting our customers, collateral, or our facilities; a failure in or breach of our information, operational or security systems or infrastructure or those of third parties, including as a result of cyber incidents, war or other disruptions; the adequacy of our credit risk scoring models; geopolitical risks, including recent geopolitical actions outside the U.S.; adverse changes in our ability to attract and retain employees or key executives; increased competition or adverse changes in customer responsiveness to our distribution channels or products; changes in federal, state, or local laws, regulations, or regulatory policies and practices or increased regulatory scrutiny of our business or industry; risks associated with our insurance operations; the costs and effects of any actual or alleged violations of any federal, state, or local laws, rules or regulations; the costs and effects of any fines, penalties, judgments, decrees, orders, inquiries, investigations, subpoenas, or enforcement or other proceedings of any governmental or quasi-governmental agency or authority; our substantial indebtedness and our continued ability to access the capital markets and maintain adequate current sources of funds to satisfy our cash flow requirements; our ability to comply with all of our covenants; the effects of any downgrade of our debt ratings by credit rating agencies; and other risks and uncertainties described in the 'Risk Factors' and 'Management's Discussion and Analysis' sections of the Company's most recent Form 10-K filed with the SEC and in the Company's other filings with the SEC from time to time.
If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, our actual results may vary materially from what we may have expressed or implied by these forward-looking statements. You should specifically consider the factors identified in this document that could cause actual results to differ before making an investment decision to purchase our securities. Furthermore, new risks and uncertainties arise from time to time, and it is impossible for us to predict those events or how they may affect us.
Forward looking statements included in this document speak only as of the date on which they were made. We undertake no obligation to update or revise any forward-looking statements, whether written or oral, to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events or the non-occurrence of anticipated events, whether as a result of new information, future developments or otherwise, except as required by law.
OneMain Holdings, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
‌
Quarter Ended
Fiscal Year
(unaudited, $ in millions, except per share amounts)
Jun 30,2025
Mar 31,2025
Dec 31,2024
Sep 30,2024
Jun 30,2024
2024
2023
‌
Interest income
$ 1,339
$ 1,308
$ 1,320
$ 1,282
$ 1,219
$ 4,993
$ 4,564
Interest expense
(317)
(312)
(311)
(301)
(297)
(1,185)
(1,019)
Net interest income
1,022
996
1,009
981
922
3,808
3,545
Provision for finance receivable losses
(511)
(456)
(523)
(512)
(575)
(2,040)
(1,721)
Net interest income after provision for finance receivable losses
511
540
486
469
347
1,768
1,824
‌
Insurance
111
110
111
111
111
445
448
Investment
24
26
21
24
30
108
116
Gain on sales of finance receivables
17
16
5
6
6
23
52
Net loss on repurchases and repayments of debt
(21)
(5)
(19)
(1)
(12)
(34)
—
Other
45
41
42
42
39
153
119
Total other revenues
176
188
160
182
174
695
735
‌
Operating expenses
(419)
(404)
(433)
(401)
(382)
(1,607)
(1,530)
Insurance policy benefits and claims
(54)
(49)
(49)
(43)
(47)
(189)
(189)
Total other expenses
(473)
(453)
(482)
(444)
(429)
(1,796)
(1,719)
‌
Income before income taxes
214
275
164
207
92
667
840
Income taxes
(47)
(62)
(38)
(50)
(21)
(158)
(199)
Net income
$ 167
$ 213
$ 126
$ 157
$ 71
$ 509
$ 641
‌
Weighted average number of diluted shares
119.4
120.0
119.9
120.1
120.2
120.1
120.6
Diluted EPS
$ 1.40
$ 1.78
$ 1.05
$ 1.31
$ 0.59
$ 4.24
$ 5.32
Book value per basic share
$ 27.99
$ 27.50
$ 26.74
$ 26.87
$ 26.33
$ 26.74
$ 26.60
Return on assets
2.5 %
3.3 %
1.9 %
2.5 %
1.1 %
2.0 %
2.7 %
‌
Change in allowance for finance receivable losses
$ (66)
$ 17
$ (60)
$ (81)
$ (79)
$ (194)
$ (185)
Net charge-offs
(445)
(473)
(463)
(431)
(496)
(1,846)
(1,536)
Provision for finance receivable losses
$ (511)
$ (456)
$ (523)
$ (512)
$ (575)
$ (2,040)
$ (1,721)
Note:
Quarters may not sum to fiscal year due to rounding.
OneMain Holdings, Inc.
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
‌
As of
‌
(unaudited, $ in millions)
Jun 30,2025
Mar 31,2025
Dec 31,2024
Sep 30,2024
Jun 30,2024
‌
Assets
Cash and cash equivalents
$ 769
$ 627
$ 458
$ 577
$ 667
Investment securities
1,683
1,670
1,607
1,581
1,681
Net finance receivables
23,870
23,328
23,554
23,075
22,365
Unearned insurance premium and claim reserves
(764)
(747)
(766)
(765)
(753)
Allowance for finance receivable losses
(2,754)
(2,688)
(2,705)
(2,645)
(2,564)
Net finance receivables, less unearned insurance premium and claim reserves and allowance for finance receivable losses
20,352
19,893
20,083
19,665
19,048
Restricted cash and restricted cash equivalents
742
736
684
693
630
Goodwill
1,474
1,474
1,474
1,474
1,474
Other intangible assets
285
285
286
288
289
Other assets
1,323
1,344
1,318
1,300
1,296
Total assets
$ 26,628
$ 26,029
$ 25,910
$ 25,578
$ 25,085
‌
Liabilities and Shareholders' Equity
Long-term debt
$ 22,053
$ 21,494
$ 21,438
$ 21,137
$ 20,671
Insurance claims and policyholder liabilities
579
567
575
597
594
Deferred and accrued taxes
18
19
20
29
10
Other liabilities
652
669
686
607
657
Total liabilities
23,302
22,749
22,719
22,370
21,932
‌
Common stock
1
1
1
1
1
Additional paid-in capital
1,745
1,734
1,734
1,728
1,723
Accumulated other comprehensive loss
(51)
(65)
(81)
(59)
(95)
Retained earnings
2,425
2,384
2,296
2,295
2,263
Treasury stock
(794)
(774)
(759)
(757)
(739)
Total shareholders' equity
3,326
3,280
3,191
3,208
3,153
Total liabilities and shareholders' equity
$ 26,628
$ 26,029
$ 25,910
$ 25,578
$ 25,085
OneMain Holdings, Inc.
CONSOLIDATED KEY FINANCIAL METRICS (UNAUDITED)
‌
As of
‌
(unaudited, $ in millions)
Jun 30,2025
Mar 31,2025
Dec 31,2024
Sep 30,2024
Jun 30,2024
‌
Liquidity
Cash and cash equivalents
$ 769
$ 627
$ 458
$ 577
$ 667
Cash and cash equivalents unavailable for general corporate purposes
185
139
123
266
211
Unencumbered receivables
9,709
10,163
9,738
9,017
8,060
Undrawn conduit facilities
5,999
5,999
5,999
6,749
6,399
Undrawn corporate revolver
1,125
1,125
1,125
1,125
1,325
Private secured term funding available
—
725
—
—
—
Undrawn credit card revolving variable funding note facilities
400
400
300
300
300
Drawn conduit facilities
1
1
1
176
1
‌
Net adjusted debt
$ 21,297
$ 20,833
$ 20,931
$ 20,653
$ 20,043
‌
Total Shareholders' equity
$ 3,326
$ 3,280
$ 3,191
$ 3,208
$ 3,153
Accumulated other comprehensive loss
51
65
81
59
95
Goodwill
(1,474)
(1,474)
(1,474)
(1,474)
(1,474)
Other intangible assets
(285)
(285)
(286)
(288)
(289)
Junior subordinated debt
172
172
172
172
172
Adjusted tangible common equity
1,790
1,758
1,684
1,677
1,657
Allowance for finance receivable losses, net of tax *
2,065
2,016
2,029
1,984
1,923
Adjusted capital
$ 3,855
$ 3,774
$ 3,713
$ 3,661
$ 3,580
‌
Net leverage (net adjusted debt to adjusted capital)
5.5x
5.5x
5.6x
5.6x
5.6x
*
Income taxes assume a 25% tax rate.
OneMain Holdings, Inc.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (UNAUDITED)
‌
Quarter Ended
Fiscal Year
‌
(unaudited, $ in millions)
Jun 30,2025
Mar 31,2025
Dec 31,2024
Sep 30,2024
Jun 30,2024
2024
2023
‌
Consumer & Insurance
$ 211
$ 270
$ 159
$ 200
$ 145
$ 707
$ 845
Other
(1)
1
(1)
—
—
(1)
(6)
Segment to GAAP adjustment
4
4
6
7
(53)
(39)
1
Income before income taxes – GAAP basis
$ 214
$ 275
$ 164
$ 207
$ 92
$ 667
$ 840
‌
Consumer & Insurance pretax income
$ 211
$ 270
$ 159
$ 200
$ 145
$ 707
$ 845
Net loss on repurchases and repayments of debt
20
5
19
—
12
33
—
Restructuring charges
—
—
1
1
—
29
—
Acquisition-related transaction and integration expenses
—
—
5
1
2
9
—
Regulatory settlements
—
—
—
—
—
—
26
Other (1)
—
—
1
—
4
4
3
Consumer & Insurance adjusted pretax income (non-GAAP)
$ 231
$ 275
$ 185
$ 202
$ 163
$ 782
$ 874
‌
Reconciling items (2)
$ (16)
$ (1)
$ (20)
$ 5
$ (71)
$ (114)
$ (28)
‌
Consumer & Insurance
$ 23,901
$ 23,365
$ 23,598
$ 23,128
$ 22,428
$ 23,598
$ 21,349
Segment to GAAP adjustment
(31)
(37)
(44)
(53)
(63)
(44)
—
Net finance receivables – GAAP basis
$ 23,870
$ 23,328
$ 23,554
$ 23,075
$ 22,365
$ 23,554
$ 21,349
‌
Consumer & Insurance
$ 2,758
$ 2,693
$ 2,710
$ 2,651
$ 2,571
$ 2,710
$ 2,480
Segment to GAAP adjustment
(4)
(5)
(5)
(6)
(7)
(5)
—
Allowance for finance receivable losses – GAAP basis
$ 2,754
$ 2,688
$ 2,705
$ 2,645
$ 2,564
$ 2,705
$ 2,480
Note:
Quarters may not sum to fiscal year due to rounding.
(1)
Includes strategic activities and other items.
(2)
Reconciling items consist of Segment to GAAP adjustment and the adjustments to Pretax income – segment accounting basis for C&I and Other. The adjustments to Other adjusted pretax income (loss) are not disclosed in the table above due to immateriality.
OneMain Holdings, Inc.
CONSUMER & INSURANCE SEGMENT (UNAUDITED) (Non-GAAP)
‌
Quarter Ended
Fiscal Year
‌
(unaudited, in millions, except per share amounts)
Jun 30,2025
Mar 31,2025
Dec 31,2024
Sep 30,2024
Jun 30,2024
2024
2023
‌
Interest income
$ 1,333
$ 1,301
$ 1,312
$ 1,271
$ 1,210
$ 4,965
$ 4,559
Interest expense
(317)
(311)
(310)
(299)
(295)
(1,181)
(1,015)
Net interest income
1,016
990
1,002
972
915
3,784
3,544
Provision for finance receivable losses
(511)
(456)
(523)
(512)
(515)
(1,981)
(1,721)
Net interest income after provision for finance receivable losses
505
534
479
460
400
1,803
1,823
‌
Insurance
111
110
111
111
111
445
448
Investment
24
26
21
24
30
108
116
Gain on sales of finance receivables
17
16
5
6
6
23
52
Other
43
39
40
40
37
146
111
Total other revenues
195
191
177
181
184
722
727
‌
Operating expenses
(415)
(401)
(422)
(396)
(374)
(1,554)
(1,487)
Insurance policy benefits and claims
(54)
(49)
(49)
(43)
(47)
(189)
(189)
Total other expenses
(469)
(450)
(471)
(439)
(421)
(1,743)
(1,676)
‌
Adjusted pretax income (non-GAAP)
231
275
185
202
163
782
874
‌
Income taxes *
(58)
(68)
(46)
(51)
(41)
(195)
(219)
‌
Adjusted net income (non-GAAP)
$ 173
$ 207
$ 139
$ 151
$ 122
$ 587
$ 655
‌
Weighted average number of diluted shares
119.4
120.0
119.9
120.1
120.2
120.1
120.6
C&I adjusted diluted EPS
$ 1.45
$ 1.72
$ 1.16
$ 1.26
$ 1.02
$ 4.89
$ 5.43
Note:
Quarters may not sum to fiscal year due to rounding.
*
Income taxes assume a 25% tax rate.
OneMain Holdings, Inc.
CONSUMER & INSURANCE SEGMENT METRICS (UNAUDITED)
‌
Quarter Ended
Fiscal Year
‌
(unaudited, $ in millions)
Jun 30,2025
Mar 31,2025
Dec 31,2024
Sep 30,2024
Jun 30,2024
2024
2023
‌
Net finance receivables – personal loans
$ 20,814
$ 20,469
$ 20,833
$ 20,569
$ 20,073
$ 20,833
$ 20,274
Net finance receivables – auto finance
2,335
2,220
2,122
2,009
1,889
2,122
745
Net finance receivables – consumer loans
23,149
22,689
22,955
22,578
21,962
22,955
21,019
Net finance receivables – credit cards
752
676
643
550
466
643
330
Net finance receivables
$ 23,901
$ 23,365
$ 23,598
$ 23,128
$ 22,428
$ 23,598
$ 21,349
‌
Allowance for finance receivable losses
$ 2,758
$ 2,693
$ 2,710
$ 2,651
$ 2,571
$ 2,710
$ 2,480
‌‌
Allowance ratio
11.54 %
11.52 %
11.48 %
11.46 %
11.46 %
11.48 %
11.62 %
‌
Net finance receivables
23,901
23,365
23,598
23,128
22,428
23,598
21,349
Finance receivables serviced for our whole loan sale partners
1,316
1,232
1,141
1,191
1,229
1,141
882
Managed receivables
$ 25,217
$ 24,597
$ 24,739
$ 24,319
$ 23,657
$ 24,739
$ 22,231
‌
Average net finance receivables – personal loans
$ 20,637
$ 20,660
$ 20,751
$ 20,396
$ 19,937
$ 20,301
$ 19,788
Average net finance receivables – auto finance
2,278
2,166
2,072
1,949
1,843
1,662
559
Average net finance receivables – consumer loans
22,915
22,826
22,823
22,345
21,780
21,963
20,347
Average net finance receivables – credit cards
719
668
599
515
430
477
181
Average net receivables
23,634
23,494
23,422
22,860
22,210
22,440
20,528
Average receivables serviced for our whole loan sale partners
1,285
1,196
1,174
1,218
1,195
1,113
852
Average managed receivables
$ 24,919
$ 24,690
$ 24,596
$ 24,078
$ 23,405
$ 23,553
$ 21,380
OneMain Holdings, Inc.
CONSUMER & INSURANCE KEY METRICS (UNAUDITED) (Non-GAAP)
‌
Quarter Ended
Fiscal Year
‌
(unaudited, in millions)
Jun 30,2025
Mar 31,2025
Dec 31,2024
Sep 30,2024
Jun 30,2024
2024
2023
‌
Adjusted pretax income (non-GAAP)
$ 231
$ 275
$ 185
$ 202
$ 163
$ 782
$ 874
‌
Provision for finance receivable losses
511
456
523
512
515
1,981
1,721
Net charge-offs
(446)
(473)
(464)
(432)
(496)
(1,849)
(1,536)
Change in C&I allowance for finance receivable losses (non-GAAP)
65
(17)
59
80
19
132
185
‌
Pretax capital generation (non-GAAP)
296
258
244
282
182
914
1,059
‌
Capital generation, net of tax* (non-GAAP)
$ 222
$ 194
$ 183
$ 211
$ 136
$ 685
$ 794
‌
C&I average net receivables
$ 23,634
$ 23,494
$ 23,422
$ 22,860
$ 22,210
$ 22,440
$ 20,528
‌
Capital generation return on receivables (non-GAAP)
3.8 %
3.3 %
3.1 %
3.7 %
2.9 %
3.1 %
3.9 %
Note:
Consumer & Insurance financial information is presented on an adjusted Segment Accounting Basis. Amounts may not sum to fiscal year due to rounding.
*
Income taxes assume a 25% rate.
OneMain Holdings, Inc.
CONSUMER & INSURANCE CONSUMER LOANS METRICS (UNAUDITED)
‌
Quarter Ended
Fiscal Year
‌
(unaudited, $ in millions)
Jun 30,2025
Mar 31,2025
Dec 31,2024
Sep 30,2024
Jun 30,2024
2024
2023
‌
Gross charge-offs
$ 496
$ 525
$ 514
$ 490
$ 553
$ 2,080
$ 1,768
Recoveries
(85)
(85)
(76)
(78)
(75)
(307)
(258)
Net charge-offs
$ 411
$ 440
$ 438
$ 412
$ 478
$ 1,773
$ 1,510
‌
Gross charge-off ratio
8.68 %
9.34 %
8.96 %
8.72 %
9.68 %
9.34 %
8.69 %
Recovery ratio
(1.49 %)
(1.52 %)
(1.33 %)
(1.39 %)
(1.39 %)
(1.39 %)
(1.27 %)
Net charge-off ratio
7.19 %
7.83 %
7.63 %
7.33 %
8.29 %
7.94 %
7.42 %
‌
Average net receivables
$ 22,915
$ 22,826
$ 22,823
$ 22,345
$ 21,780
$ 21,963
$ 20,346
Yield
22.6 %
22.4 %
22.2 %
22.1 %
21.9 %
22.1 %
22.2 %
Origination volume
$ 3,907
$ 3,022
$ 3,504
$ 3,712
$ 3,582
$ 13,321
$ 12,851
‌
30+ delinquency
$ 1,197
$ 1,170
$ 1,322
$ 1,272
$ 1,198
$ 1,322
$ 1,294
90+ delinquency
$ 491
$ 540
$ 579
$ 562
$ 511
$ 579
$ 605
30-89 delinquency
$ 706
$ 630
$ 743
$ 710
$ 687
$ 743
$ 689
‌
30+ delinquency ratio
5.17 %
5.16 %
5.76 %
5.63 %
5.45 %
5.76 %
6.16 %
90+ delinquency ratio
2.12 %
2.38 %
2.52 %
2.49 %
2.33 %
2.52 %
2.88 %
30-89 delinquency ratio
3.05 %
2.77 %
3.24 %
3.14 %
3.13 %
3.24 %
3.28 %
Note:
Consumer & Insurance financial information is presented on a Segment Accounting Basis. Delinquency ratios are calculated as a percentage of C&I consumer loan net finance receivables. Amounts may not sum due to rounding.
Defined Terms
Adjusted capital: adjusted tangible common equity + allowance for finance receivable losses (ALLL), net of tax
Adjusted tangible common equity (TCE): total shareholders' equity – accumulated other comprehensive loss – goodwill – other intangible assets + junior subordinated debt
Auto finance: financing at the point of purchase through a network of auto dealerships
Available cash and cash equivalents: cash and cash equivalents – cash and cash equivalents held at our regulated insurance subsidiaries or is unavailable for general corporate purposes
Average assets: average of monthly average assets (assets at the beginning and end of each month divided by two) in the period
Average managed receivables: C&I average net receivables + average receivables serviced for our whole loan sale partners
C&I adjusted diluted EPS: C&I adjusted net income (non-GAAP) / weighted average diluted shares
Capital generation: C&I adjusted net income – change in C&I allowance for finance receivable losses, net of tax
Capital generation return on receivables*: annualized capital generation / C&I average net receivables
Consumer loans: personal loans and auto finance
Finance receivables serviced for our whole loan sale partners: unpaid principal balance plus accrued interest of loans sold as part of our whole loan sale program
Gross charge-off ratio*: annualized gross charge-offs / average net receivables
Managed receivables: C&I net finance receivables + finance receivables serviced for our whole loan sale partners + auto finance loans originated by third parties
Net adjusted debt: long-term debt – junior subordinated debt – available cash and cash equivalents
Net charge-off ratio*: annualized net charge-offs / average net receivables
Net leverage: net adjusted debt / adjusted capital
Opex ratio: annualized C&I operating expenses / average managed receivables
Origination volume: loans originated during the period, including those originated and sold to our whole loan sale partners that we continue to service
Other net revenue: other revenues – insurance policy benefits and claims expense
Personal loans: loans secured by titled collateral or unsecured and offered through our branch network, central operations, or digital platform
Pretax capital generation: C&I pretax adjusted net income – change in C&I allowance for finance receivable losses
Purchase volume: credit card purchase transactions + cash advances – returns
Return on assets (ROA): annualized net income / average total assets
Return on receivables (C&I ROR): annualized C&I adjusted net income / C&I average net receivables
Total revenue: C&I interest income + C&I total other revenue
Unencumbered receivables: unencumbered unpaid principal balance of consumer loans and credit cards. For precompute personal loans, unpaid principal balance is the gross contractual payments less the unaccreted balance of unearned finance charges. Credit card receivables include those in the trust that exceed the minimum for securing advances under credit card variable funding note facilities, which the Company can remove from the trust under the terms of such facilities, and exclude billed interest, fees, and closed accounts with balances
*
2Q24 and fiscal year 2024 adjusted for policy alignment associated with the Foursight acquisition.
OneMain Holdings, Inc.
Investor Contact:Peter R. Poillon, [e-mail]
Media Contact:Kelly Ogburn, [e-mail]