Happen, Inc (HAPN) fair value: what the stock is really worth
As of Oct 30, 2026: fair value (intrinsic value) of Happen, Inc stock $16.74, price $15.53, upside +7.8%, quality 43 out of 100. Rating: fairly valued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Happen, Inc. operates as a bank holding company that provides financial and lending services in the United States.
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The company offers deposit products, including savings accounts, checking accounts, money market accounts, and certificates of deposit; consumer loan products, such as unsecured loans, fixed-rate and fixed-term consumer loans, major purchase finance, and auto refinance; personal loans for credit card refinancing and debt consolidation; financing for health and wellness; and balance transfer, credit card and debt consolidation, emergency, funeral, home improvement, moving, small, and wedding loans.
It also provides commercial lending, including small business and SBA loans. In addition, the company operates a lending marketplace platform. It serves individual consumers and small businesses.
The company was formerly known as LendingClub Corporation and changed its name to Happen, Inc. in June 2026. Happen, Inc. was incorporated in 2006 and is headquartered in San Francisco, California.
Stock analysis
Happen, Inc (HAPN) currently trades at $15.53, while our model-based Fair Value estimate is $16.74, so the stock looks roughly fairly valued today (gap 7.2%).
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Valuation
Bull case: the Multiples group reads highest at a median of $15.28 per share, and 1 of the 4 models we run sit above the $15.53 price.
Bear case: the Asset-Based group reads lowest at $8.23, and 3 of the 4 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $12.56 (bear) to $20.93 (bull), the price of $15.53 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 43/100 (below-average quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Happen, Inc reported revenue of $1.3B in FY2025 versus $899M in FY2021, a compound +10.4%/yr. Reported net income was $136M in FY2025, compounding +64.4%/yr from FY2021.
Key figures
Market cap $1.8B Small · P/E ratio 8.7 · P/S ratio 1.30 · EPS (TTM) $1.79 · Net margin 15.0% · Return on equity 13.8% · Return on assets (EBIT) 1.3% · Operating margin 48.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 59 out of 100 (low confidence).
What moves the price
The share trades about 28% below its 52-week high and 17% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −31% fair-value upside, at 8%, HAPN screens cheaper than that median.
Fair Value models
Bear$12.56Fair Value $16.74Bull$20.93
Price $15.53 · Upside +7.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($1.50 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+15.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+24.0%
Start year 2020 (pandemic). Over 10 years: +3.8% a year
Revenue growth 13 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+30.3%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+40.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+40.2%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−41% → 25%
2025 sits 159% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
⚠ Revenue per share shrinking 6.7%/yr over ~10Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Banks - Regional · 1055 stocks
Beats the industry median on 8/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score43 · Bottom 25%
Fair Value upside+7.8% · Above median
Profitability
Return on equity (12 months)13.8% · Top 25%
Return on assets1.2% · Above median
Net margin (12 months)15.0% · Bottom 25%
Operating margin (12 months)48.0% · Above median
Growth and dividend
Revenue growth (quarter YoY)2.5% · Below median
Balance sheet
Debt / equity0.01× · Lowest 25%
Valuation Multiplesvs Banks - Regional median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Happen, Inc Fair Value". https://www.fairvalue-calculator.com/stock/HAPN
Frequently asked questions
Is Happen, Inc (HAPN) overvalued or undervalued?
As of Oct 31, 2026, our model estimates a fair value of $16.74 versus a price of $15.53, about +8% upside (fairly valued).
What is the fair value of HAPN?
Our model-based fair value for Happen, Inc is $16.74 (as of Oct 31, 2026), built from audited fundamentals. The current price: $15.53.
What is the quality score of HAPN?
Happen, Inc has a Quality Score of 43/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Happen, Inc (HAPN)?
Our model-based price target is the fair value of $16.74 (as of Oct 31, 2026) from 4 valuation models. Cautious scenario $12.56, optimistic scenario $20.93. It is a calculation from audited fundamentals, not an analyst target.
What is the Happen, Inc stock forecast for 2026?
Our models put fair value at $16.74, about +8% upside versus a price of $15.53 (fairly valued). Cautious scenario $12.56, optimistic scenario $20.93. The calculation is refreshed regularly with new filings.
What is the revenue of Happen, Inc (HAPN)?
Happen, Inc reported trailing-twelve-month revenue of about $1.4B (latest available figure, as of Oct 31, 2026).
What is the intrinsic value of Happen, Inc (HAPN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Happen, Inc it is $16.74 per share (as of Oct 31, 2026), against a price of $15.53. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Happen, Inc stock overvalued or undervalued in 2026?
As of Oct 31, 2026, HAPN trades below its calculated fair value: price $15.53, fair value $16.74, a gap of about +8% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of HAPN?
No. The price is what the market pays today ($15.53); the fair value is what the company's own numbers justify ($16.74). For Happen, Inc the two are $1.21 per share apart. That gap is exactly why we show both numbers side by side.
How much is Happen, Inc worth?
The market values Happen, Inc at about $1.8B (market capitalisation, as of Oct 31, 2026). Per share that is $15.53; our models calculate a fair value of $16.74 per share.
What do the bullish and bearish scenarios say about HAPN?
Our models span a range for Happen, Inc: cautious scenario $12.56, base $16.74, optimistic $20.93 per share (as of Oct 31, 2026, price $15.53). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of HAPN?
Happen, Inc trades at a price-to-earnings ratio of 8.7 (as of Oct 31, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $16.74 is built from several models across several years. Other multiples: P/B 1.2, P/S 1.3, EV/EBITDA 2.2.
How solid is the balance sheet of Happen, Inc (HAPN)?
Balance-sheet figures for Happen, Inc (as of Oct 31, 2026): return on equity 13.8%, debt of 0.01 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is HAPN from its 52-week high?
Happen, Inc trades at $15.53, about 28% below its 52-week high of $21.58 and 17% above the low of $13.32 (as of Oct 30, 2026). Distance from the high says nothing about value: that is what the fair value of $16.74 is for.
Which stocks are comparable to Happen, Inc?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, UniCredit S.p.A, Mizuho Financial Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Happen, Inc stock attractive at the current price?
The data as of Oct 31, 2026: price $15.53, calculated fair value $16.74 (+8%), Quality Score 43/100, from 4 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of HAPN calculated?
We run Happen, Inc through 4 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $16.74, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.5 % above its aggregate fair value. Happen, Inc currently trades 7 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Happen, Inc (HAPN)?
The closing price on Oct 30, 2026 was $15.53. Our model-based fair value is $16.74, about +8% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Happen, Inc right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of Happen, Inc
How large is the market capitalisation of Happen, Inc (HAPN)?
The market capitalisation of Happen, Inc is $1.8B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Happen, Inc (HAPN)?
The price-to-sales ratio of Happen, Inc is 1.30 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Happen, Inc (HAPN)?
Earnings per share at Happen, Inc are $1.79 (price ÷ EPS = P/E 8.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Happen, Inc (HAPN)?
The net margin of Happen, Inc is 15.0% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Happen, Inc (HAPN)?
The return on equity (ROE) of Happen, Inc is 13.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Happen, Inc (HAPN)?
On an EBIT basis the return on assets of Happen, Inc is 1.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Happen, Inc (HAPN)?
The operating margin of Happen, Inc is 48.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Happen, Inc (HAPN)?
Revenue at Happen, Inc is growing +2.5% versus a year earlier (3y avg +1.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Happen, Inc (HAPN)?
Earnings per share at Happen, Inc are growing +35.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Happen, Inc (HAPN) generate?
The free cash flow of Happen, Inc is −$2.9B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Happen, Inc (HAPN) hold?
Happen, Inc holds more cash than debt, $902M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Oct 31, 2026