Enova International, Inc. filed its 10-Q with the SEC, and its figures are now in our data. Profit is rising faster than sales as growth arrives with wider margins. Revenue over the twelve months to Q3 2026 was $3.7 billion, a 20.1% increase on the year before. This growth rate was up 2.4 percentage points from the quarter earlier.
Profit and margins
Profit is present at every level. The trailing gross margin stood at 60.6%, while the trailing operating margin reached 24.0%, an increase of 0.8 percentage points from a year earlier. The trailing net margin was 10.5%. Net income over the twelve months totaled $382.4 million, rising 30.5% on the year before.
Cash flow
Cash generation improved. Operating cash flow over the twelve months was $2.1 billion, up 17.3% on the year before. Capital spending amounted to $46.7 million, or 1.3% of revenue. Free cash flow, defined as operating cash flow less capital spending, was $2.0 billion, an increase of 17.7% on the year before. This represented a free-cash-flow margin of 54.9%, down 1.1 percentage points from a year earlier.
The share base
The average diluted share count fell 1.8% over the year.
In context
Measured against its own history, today’s free-cash-flow margin of 54.9% is higher than 58% of the company’s past quarterly readings, which have ranged from 35.7% to 74.3%. Today’s operating margin of 24.0% exceeds 78% of past readings (13.8% to 49.2%). The twelve-month revenue growth rate of 20.1% is higher than 64% of past readings (−22.9% to 48.9%).
What it means for value
For valuation, these figures matter through our model. In our model, a 5 percentage point decrease in growth would lower the value by 25.1%, while a 5 percentage point increase would raise it by 32.0%. A 1 percentage point reduction in the free-cash-flow margin would lower the value by 1.7%.
What comes next
The next filing will show whether the trends above continue, slow or reverse.
