On Deck Capital

On Deck Capital's net interest margin rose 1.50% yoy to 32.0% in 2Q2019

By Helgi Analytics - October 19, 2019

On Deck Capital's net interest margin amounted to 32.0% in the second quarter of 2019, down from 33.1% when compared to the prev...

On Deck Capital's net profit fell 23.7% yoy to USD 4.30 mil in 2Q2019

By Helgi Analytics - October 19, 2019

On Deck Capital made a net profit of USD 4.30 mil under revenues of USD 98.9 mil in the second quarter of 2019, down 23.7% and ...

On Deck Capital's price/earnings (P/E) fell 91.6% yoy to 9.32 in 2Q2019

By Helgi Analytics - October 19, 2019

On Deck Capital stock traded at USD 4.01 per share at the end second quarter of 2019 implying a market capitalization of USD 317 mil. S...

Profit Statement 2016 2017 2018
Net Interest Income USD mil 244 302 351
Net Fee Income USD mil 0 0 0
Other Income USD mil 14.4 2.49 0
Total Revenues USD mil 259 305 351
Operating Profit USD mil 64.9 142 181
Provisions USD mil 150 153 149
Net Profit USD mil -83.0 -11.5 27.7
Balance Sheet 2016 2017 2018
Interbank Loans USD mil 0 0 0
Customer Loans USD mil 891 844 1,029
Debt Securities USD mil 0 0 0
Total Assets USD mil 1,064 996 1,162
Shareholders' Equity USD mil 264 266 304
Interbank Borrowing USD mil 0 0 0
Customer Deposits USD mil 0 0 0
Issued Debt Securities USD mil 755 692 816
Ratios 2016 2017 2018
ROE % -28.0 -4.36 9.71
ROA % -9.17 -1.12 2.57
Costs (As % Of Assets) % 21.4 15.8 15.8
Costs (As % Of Income) % 74.9 53.5 48.5
Net Interest Margin % 27.0 29.3 32.6
Valuation 2016 2017 2018
Market Capitalisation (End Of Period) USD mil 332 424 445
Share Price (End Of Period) USD 4.67 5.81 5.66
Price/Earnings (P/E) ... ... 16.1
Price/Book Value (P/BV) 1.26 1.59 1.46
Earnings Per Share (EPS) USD -1.17 -0.158 0.352
Book Value Per Share USD 3.72 3.65 3.87

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summary Unit 2012 2013 2014 2015 2016 2017 2018
income statement              
Net Interest Income USD mil 17.3 51.0 132 181 244    
Total Revenues USD mil 17.3 51.8 141 235 259    
Operating Profit USD mil -4.14 7.23 60.4 72.9 64.9    
Net Profit USD mil -16.8 -24.4 -18.7 -1.27 -83.0    
balance sheet              
Interbank Loans USD mil 0 0 0 0 0    
Customer Loans USD mil 81.7 205 456 500 891    
Debt Securities USD mil 0 0 0 0 0    
Total Assets USD mil 107 235 730 745 1,064    
Shareholders' Equity USD mil -3.93 18.9 311 329 264    
Interbank Borrowing USD mil 0 0 0 0 0    
Customer Deposits USD mil 0 0 0 0 0    
Issued Debt Securities USD mil 8.00 15.0 12.0 379 755    
ratios              
ROE % 428 -326 -11.4 -0.398 -28.0    
ROA % -15.8 -14.2 -3.88 -0.173 -9.17    
Costs (As % Of Assets) % 20.2 26.1 16.7 21.9 21.4    
Costs (As % Of Income) % 124 86.1 57.2 68.9 74.9    
Net Interest Margin % 16.3 29.9 27.4 24.6 27.0    
Interest Income (As % Of Revenues) % 100 98.5 93.7 77.3 94.4    
Fee Income (As % Of Revenues) % 0 0 0 0 0    
Equity (As % Of Assets) % -3.69 8.01 42.6 44.2 24.8    
Loans (As % Assets) % 76.7 86.9 62.5 67.1 83.7    
valuation              
Market Capitalisation (End Of Period) USD mil ... ... 1,548 722 332    
Number Of Shares (Average) mil 4.75 4.29 52.6 69.5 70.9    
Share Price (End Of Period) USD ... ... 29.5 10.4 4.67    
Earnings Per Share (EPS) USD -3.55 -5.67 -0.356 -0.018 -1.17    
Book Value Per Share USD -0.828 4.39 5.91 4.74 3.72    
Price/Earnings (P/E) ... ... ... ... ... ...  
Price/Book Value (P/BV) ... ... 4.99 2.19 1.26    
Earnings Per Share Growth % ... 60.0 -93.7 -94.9 6,289    
Book Value Per Share Growth % ... -631 34.5 -19.8 -21.5    
income statement Unit 2012 2013 2014 2015 2016 2017 2018
income statement              
Interest Income USD mil 25.6 64.5 149 201 277    
Interest Cost USD mil 8.29 13.4 17.2 20.2 32.4    
Net Interest Income USD mil 17.3 51.0 132 181 244    
Net Fee Income USD mil 0 0 0 0 0    
Other Income USD mil 0 0.788 8.82 53.4 14.4    
Total Revenues USD mil 17.3 51.8 141 235 259    
Operating Cost USD mil 21.5 44.6 80.5 162 194    
Operating Profit USD mil -4.14 7.23 60.4 72.9 64.9    
Provisions USD mil 12.5 26.6 67.4 74.9 150    
Extra and Other Cost USD mil 0.236 5.02 11.6 0.306 0.414    
Pre-Tax Profit USD mil -16.8 -24.4 -18.7 -2.23 -85.5    
Tax USD mil 0 0 0 0 0    
Minorities USD mil 0 0 0 -0.958 -2.52    
Net Profit USD mil -16.8 -24.4 -18.7 -1.27 -83.0    
growth rates              
Net Interest Income Growth % ... 194 159 37.2 34.9    
Total Revenue Growth % ... 199 172 66.5 10.4    
Operating Cost Growth % ... 108 80.5 101 20.0    
Operating Profit Growth % ... -275 735 20.9 -11.0    
Pre-Tax Profit Growth % ... 44.6 -23.2 -88.1 3,732    
Net Profit Growth % ... 44.6 -23.2 -93.2 6,417    
market share              
Market Share in Revenues % 0.003 0.008 0.021 0.034 0.035   ...
balance sheet Unit 2012 2013 2014 2015 2016 2017 2018
balance sheet              
Cash USD mil 7.39 4.67 220 160 79.6    
Interbank Loans USD mil 0 0 0 0 0    
Customer Loans USD mil 81.7 205 456 500 891    
Debt Securities USD mil 0 0 0 0 0    
Fixed Assets USD mil 4.01 7.17 13.9 26.2 29.4    
Total Assets USD mil 107 235 730 745 1,064    
Shareholders' Equity USD mil -3.93 18.9 311 329 264    
Of Which Minority Interest USD mil 0 0 0 6.61 4.07    
Liabilities USD mil 110 217 419 416 800    
Interbank Borrowing USD mil 0 0 0 0 0    
Customer Deposits USD mil 0 0 0 0 0    
Issued Debt Securities USD mil 8.00 15.0 12.0 379 755    
Other Liabilities USD mil 102 202 407 37.0 45.9    
asset quality              
Gross Loans USD mil 91.0 224 506 553 1,001    
Total Provisions USD mil 9.29 19.4 49.8 53.3 110    
growth rates              
Customer Loan Growth % ... 150 123 9.72 78.1    
Total Asset Growth % ... 121 210 2.11 42.8    
Shareholders' Equity Growth % ... -580 1,547 6.06 -20.0    
market share              
Market Share in Customer Loans % 0.001 0.003 0.006 0.006 0.009    
Market Share in Total Assets % < 0.001 0.002 0.005 0.005 0.006    
Market Share in Customer Deposits % 0 0 0 0 0    
ratios Unit 2012 2013 2014 2015 2016 2017 2018
ratios              
ROE % 428 -326 -11.4 -0.398 -28.0    
ROA % -15.8 -14.2 -3.88 -0.173 -9.17    
Costs (As % Of Assets) % 20.2 26.1 16.7 21.9 21.4    
Costs (As % Of Income) % 124 86.1 57.2 68.9 74.9    
Net Interest Margin % 16.3 29.9 27.4 24.6 27.0    
Interest Spread % ... 29.5 25.5 22.5 25.3    
Asset Yield % 24.1 37.7 30.9 27.3 30.6    
Cost Of Liabilities % ... 8.21 5.41 4.85 5.34    
Interest Income (As % Of Revenues) % 100 98.5 93.7 77.3 94.4    
Fee Income (As % Of Revenues) % 0 0 0 0 0    
Other Income (As % Of Revenues) % 0 1.52 6.26 22.8 5.57    
Equity (As % Of Assets) % -3.69 8.01 42.6 44.2 24.8    
Loans (As % Assets) % 76.7 86.9 62.5 67.1 83.7    
Provisions (As % Of Loans) % 11.4 9.51 10.9 10.7 12.4    
Cost of Provisions (As % Of Loans) % 15.3 18.6 20.4 15.7 21.6    
other data Unit 2012 2013 2014 2015 2016 2017 2018
other data              
Employees ... ... 444 638 708    
On-balance Sheet Loans USD mil ... 205 456 500 891    

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On Deck Capital's market capitalisation (end of period) fell 23.0% to USD 317 mil in 2Q2019

By Helgi Analytics - October 23, 2019

On Deck Capital stock traded at JPY 1,645 per share at the end of second quarter of 2019 implying a market capitalization of USD 3,477 mil. Over the last five years, the stock has depreciated by 36.4 implying an annual average growth of -8.65% In absolute...

On Deck Capital's net interest income rose 18.8% yoy to USD 98.9 mil in 2Q2019

By Helgi Analytics - October 19, 2019

On Deck Capital generated total banking revenues of USD 98.9 mil in the second quarter of 2019, up 18.8% when compared to the same period of last year and 0.03% when compared to the previous quarter. Historically, the bank’s revenues containing of interest, ...

On Deck Capital's share price (end of period) fell 39.9% yoy to USD 4.01 in 2Q2019

By Helgi Analytics - October 19, 2019

On Deck Capital stock traded at USD 4.01 per share at the end of second quarter of 2019 implying a market capitalization of USD 317 mil. Over the last five years, the stock has appreciated by % implying an annual average growth of 0 %. In absolute terms, the value of...

On Deck Capital's equity (as % of assets) rose 3.00% yoy to 26.7% in 2Q2019

By Helgi Analytics - October 19, 2019

On Deck Capital's Equity reached 12.4% of total assets in the 2Q2019, up from 10.8% for the previous year. As a share of net customer loans, the ratio amounted to 32.3% at the end of the second quarter of 2019. ...

On Deck Capital's net profit rose 340% to USD 27.7 mil in 2018

By Helgi Analytics - October 19, 2019

On Deck Capital made a net profit of USD 27.7 mil under revenues of USD 351 mil in 2018, up 340% and 15.3% respectively compared to the previous year. Historically, the bank’s net profit reached an all time high of USD 27.7 mil in 2018 and an all time low of USD -83....

On Deck Capital's net interest margin rose 11.0% to 32.6% in 2018

By Helgi Analytics - October 19, 2019

On Deck Capital's net interest margin amounted to 32.6% in 2018, up from 29.3% compared to the previous year. Historically, the bank’s net interest margin reached an all time high of 32.6% in 2018 and an all time low of 24.6% in 2015. The average margin...

On Deck Capital's customer loans rose 22.0% to USD 1,029 mil in 2018

By Helgi Analytics - October 19, 2019

On Deck Capital's customer loans reached USD 1,029 mil in 2018, up 22.0% compared to the previous year. American banking sector provided customer loans of USD 10,135 bil in 2018, up 2.82% when compared to the last year. On Deck Capital accounted for 0.010...

On Deck Capital's customer deposits remain unchanged at USD 0 mil in 2018

By Helgi Analytics - October 19, 2019

On Deck Capital's customer deposits reached USD 0 mil in 2018, down 0% compared to the previous year. American banking sector accepted customer deposits of USD 13,400 bil in 2018, up 1.96% when compared to the last year. On Deck Capital accounted for 0% o...

On Deck Capital's net interest income rose 16.2% to USD 351 mil in 2018

By Helgi Analytics - October 19, 2019

On Deck Capital generated total banking revenues of USD 351 mil in 2018, up 15.3% compared to the previous year. Historically, the bank’s revenues containing of interest, fee and other non-interest income reached an all time high of USD 351 mil in 2018 and an a...

On Deck Capital's total revenues rose 18.8% yoy to USD 91.3 mil in 2Q2019

By Helgi Analytics - October 19, 2019

On Deck Capital generated total banking revenues of USD 91.3 mil in 2018-09-30, up 9.76% compared to the previous year. American banking sector banking sector generated total revenues of USD 207,466 mil in 2018-09-30, up 0.839% when compared to the la...

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Finance

On Deck Capital has been growing its revenues and asset by 14.4% and 16.0% a year on average in the last 3 years. Its loans and deposits have grown by 27.2% and % a year during that time and loans to deposits ratio reached at the end of 2018. The company achieved an average return on equity of -7.54% in the last three years with net profit growing % a year on average. In terms of operating efficiency, its cost to income ratio reached 48.5% in 2018, compared to 59.0% average in the last three years.

Equity represented 26.2% of total assets or 29.6% of loans at the end of 2018. On Deck Capital's non-performing loans were of total loans while provisions covered some of NPLs at the end of 2018.

Valuation

On Deck Capital stock traded at USD 5.66 per share at the end of 2018 resulting in a market capitalization of USD 445 mil. Over the previous three years, stock price fell by 45.4% or 18.3% a year on average. That’s compared to an average ROE of -7.54% the bank generated for its shareholders. This closing price put stock at a 12-month trailing price to earnings (PE) of 16.1x and price to book value (PBV) of 1.46x in 2018.

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