Here are still more stats from Nicholas Financial's (NICK) earnings report.
The beginning and ending shareholder equity figures for the last quarter were $101,361,000 and $97,437,000. That averages to $99,399,000. NICK earned $3,425,500 for the quarter so that comes to a quarterly ROE of 3.45%. Annualized that comes to 14.51%.
So this stock is almost like a 14.5% subprime bond that's going for less than par and it's credit quality is improving.
That's not a perfect analogy but it does place the stock in some context.