Enova International: Higher Valuation Despite Positive Net Debt (Buy)

  • Enova International is a buy due to strong revenue growth, robust loan originations, and high demand from small businesses, outperforming the S&P 500. Q1 2025 revenues grew 22.2% YoY, with guidance for continued double-digit growth and strong net revenue margins into 2026. Valuation suggests ENVA is undervalued, with an 11% upside over the next year based on forward PE and EPS calculations.