Atlanticus Holdings Corporation (ATLC) Stock

Atlanticus Holdings Corporation (ATLC) is a Financials stock trading at $93.69 (as of 2026-08-20), with a market capitalization of $1.42B and a trailing P/E of 8.7. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Atlanticus Holdings Corporation provides credit and related financial services in the United States through two segments: Credit as a Service and Auto Finance. It originates and services consumer loan and credit card products, and offers credit for purchases of goods and services, while its Auto Finance segment purchases and/or services auto-secured loans from dealer networks and automotive finance companies.

Understand Atlanticus Holdings Corporation: how it makes money

Atlanticus Holdings provides credit and related financial services in the United States, including consumer credit cards and other consumer loan products, and it makes money by originating these credit products through multiple customer acquisition channels and servicing/financing the resulting credit portfolios.

Profitability is primarily driven by the growth and activity of the credit portfolio, reflected in credit card receivables added and purchase volume, which translate into revenue tied to serviced accounts and partner portfolios.

Business quality (Solid): The profit engine appears closely tied to credit portfolio growth and usage metrics (receivables added, purchase volume). However, the provided facts do not include a full official segment revenue split for Credit as a Service versus Auto Finance, limiting segment-level visibility.

Valuation: At 14× earnings, ATLC trades 9% above the Banking average (13×). Note: one-time items can distort reported P/E.

Bull case

Credit portfolio growth indicators: In the latest period, Credit Card Receivables Added was 3.2 USD_B, and Purchase Volume was 0.71 USD_B, which supports the idea that the credit portfolio is expanding and being used.
Servicing scale: Credit Card Accounts Serviced Added increased by 1.3 million, and New Accounts Served increased by 380,000 in the latest period.
Partner portfolio contribution: Revenue from the Mercury Portfolio was 0.22 USD_B, showing that revenue is supported by at least one identifiable partner portfolio.

Bear case

Sensitivity to portfolio growth and usage: Because the operating drivers include receivables added and purchase volume, performance can be pressured if new receivables growth or consumer spending slows.
Potential concentration risk in identifiable partner portfolios: Revenue from the Mercury Portfolio was 0.22 USD_B in the latest period, suggesting that a meaningful portion of results may depend on specific partner relationships.
Limited segment revenue visibility in provided data: The provided facts do not include a complete revenue breakdown by the official segments (Credit as a Service and Auto Finance), which makes it harder to isolate what is driving changes in total results.

Valuation — source: SEC EDGAR (first-party)
Price	$93.69
Market Cap	$1.42B
P/E Ratio	8.7
EV / EBITDA	3.2
Price / Book	2.04
Price / Sales	0.55
DCF Value (model)	$155.45
DCF Upside vs Price	65.9%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$1.97B
Net Margin	6.2%
Revenue Growth (YoY)	50.1%
EPS Growth (YoY)	25.0%

Valuation vs Sector & Industry
Stock P/E	8.7
Sector P/E (Financials)	15.1
Industry P/E (Banking)	12.9
vs Sector	-42.6%
vs Industry	-32.7%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	WELLINGTON MANAGEMENT GROUP LLP ($39.61M)
Institutional Holders Tracked	10

Company
Sector	Financials
Industry	Banking
CEO	Jeffrey A. Howard
Employees	417
Country	US
IPO Date	1999-04-23

Related Companies (Business model: Specialty Finance / Lending; 8 closest by market cap; US-domiciled)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.