0001193125-26-314590
SEC filingEnova Q2 2026 营收增长 21.6% 至 $928.9M，净利 $105.1M，EPS $4.00，增长强劲。
| 指标 | 本期 | 去年同期 | 同比 |
|---|---|---|---|
| Revenue | $928.9M | $764.0M | +21.6% |
| Net Revenue | $568.1M | $441.5M | +28.7% |
| Net Revenue Margin | 61.2% | 57.8% | +340 bps |
| Operating Income | $237.1M | $184.1M | +28.8% |
| Operating Margin | 25.6% | 24.1% | +150 bps |
| Net Income | $105.1M | $76.1M | +38.0% |
| Diluted EPS | $4.00 | $2.86 | +39.9% |
| Adjusted EBITDA | $255.8M | $202.6M | +26.3% |
| Operating Cash Flow | $1,018.6M | $838.5M | +21.5% |
| Free Cash Flow | $995.2M | $814.4M | +22.2% |
本季度营收增长主要由 Small Business 贷款组合驱动，其营收同比 +34.6%，而 Consumer 贷款营收 +11.5%。增长源于贷款余额的扩张，其中 Small Business 贷款余额同比 +36.5%，Consumer 贷款余额 +13.7%。Net Revenue Margin 提升 340 bps 至 61.2%，主要受益于 Consumer 贷款净核销率下降（12.8% vs 14.5%）以及组合向利润率更高的小企业贷款倾斜。
盈利质量方面，经营现金流 $1,018.6M 远超净利 $105.1M，主要由于贷款公允价值变动等非现金项目。剔除一次性交易成本后，Adjusted Earnings $113.3M，Adjusted EPS $4.31，反映核心盈利能力强劲。
| 分部 | 营收 | 同比 | 经营利润/EBITDA | 利润率 | 驱动 |
|---|---|---|---|---|---|
| Consumer loans | $477.4M | +11.5% | — | 57.3% | 组合扩张，净核销率改善 |
| Small business loans | $439.3M | +34.6% | — | 64.7% | 组合扩张，逾期率略升 |
| 项目 | 本期 | 上期/变化 |
|---|---|---|
| Cash & ST investments | $122.2M | +$66.7M |
| Restricted cash | $343.0M | +$19.1M |
| Total Debt | $5,013.9M | +$515.5M |
| Loans & finance receivables (fair value) | $6,172.8M | +$1,399.5M |
| Operating Cash Flow | $1,018.6M | +$180.1M |
| Capex | $23.4M | -$0.7M |
| Free Cash Flow | $995.2M | +$180.8M |
| FCF 转化率 (FCF/Net Income) | 507% | — |