SoFi Technologies (STU:6B0) Net Charge Offs to Average Loans % : 0.00% (As of . 20)

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What is SoFi Technologies Net Charge Offs to Average Loans %?

Net Charge Offs to Average Loans % is the net charge-offs divided by the average total loans during a specific period. This ratio measures the proportion of debt owed to a company that is unlikely to be recovered. A higher ratio means there’s more bad debt that is unlikely to be collected, which leads investors to believe it has a very risky portfolio.

The historical rank and industry rank for SoFi Technologies's Net Charge Offs to Average Loans % or its related term are showing as below:

STU:6B0's Net Charge Offs to Average Loans % is not ranked ^*
in the Credit Services industry.
Industry Median:
* Ranked among companies with meaningful Net Charge Offs to Average Loans % only.

SoFi Technologies Net Charge Offs to Average Loans % Historical Data

The historical data trend for SoFi Technologies's Net Charge Offs to Average Loans % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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SoFi Technologies Net Charge Offs to Average Loans % Chart

SoFi Technologies (STU:6B0) Net Charge Offs to Average Loans % Calculation

Net Charge Offs to Average Loans % is calculated as

Net Charge Offs to Average Loans %

Net Charge-offs

Average Total Loans

SoFi Technologies (STU:6B0) Net Charge Offs to Average Loans % Explanation

A Net Charge-off (NCO) is the dollar amount representing the difference between gross charge-offs and any subsequent recoveries of delinquent debt. The bad debt often needs to be written off and classified as gross charge-off. If any money is recovered from that debt, the recovered amount needs to be subtracted from gross charge-off, which is how we get the net charge-off.

Net Charge Offs to Average Loans % represents the amount of debt that a company believes it will never collect and is an indicator of a financial institution's loan portfolio performance. A higher ratio, especially when compared to the previous period or to other banks, would suggest that there’s more bad debt that is unlikely to be collected and the loan portfolio may be too risky.

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SoFi Technologies (STU:6B0) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Credit Services » SoFi Technologies Inc (STU:6B0) » Definitions » Net Charge Offs to Average Loans %

Comparable Companies

Traded in Other Exchanges

SOFI:USA SOFI:Mexico 6B0:Germany

Address

234 1st Street, San Francisco, CA, USA, 94105

Website

https://www.sofi.com

SoFi is a financial-services company that was founded in 2011 and is based in San Francisco. Initially known for its student loan refinancing business, the company has expanded its product offerings to include personal loans, credit cards, mortgages, investment accounts, banking services, and financial planning. The company intends to be a one-stop shop for its clients' finances and operates solely through its mobile app and website. Through its acquisition of Galileo in 2020, the company also offers payment and account services for debit cards and digital banking.

SoFi Technologies (STU:6B0) Headlines

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