FirstCash Holdings Inc

Latest Results (16.05.2026):

FirstCash Holdings Inc — Fourth quarter of 2025: The company reported record fourth-quarter and full-year operating results with consolidated Q4 revenue of $1.058 billion (up 20% year-over-year) and Q4 net income of $104.2 million (GAAP), driving stronger earnings per share; full-year 2025 revenue was $3.661 billion with record net income of $330.4 million (GAAP).

Quarterly results

Q4 2025 revenue: $1,058.4M (↑20% vs Q4 2024). Q4 net income: $104.2M (↑25% YoY GAAP). Q4 diluted EPS: $2.35 GAAP (adjusted EPS $2.64). Q4 EBITDA: $209.2M (adjusted EBITDA $209.8M, ↑27% vs prior-year quarter).

Full-year 2025

Revenue: $3,661.0M (↑8% vs 2024). Net income: $330.4M (GAAP, ↑28%); adjusted net income: $390.1M (↑29%). Diluted EPS: $7.42 GAAP (adjusted $8.76). Adjusted EBITDA: $698.4M (↑25%).

Pawn growth & store footprint

Pawn receivables at Dec 31, 2025: $831.5M (total pawn receivables a record). Same-store pawn receivables: +12% YoY (24% two‑year stacked). Q4 store adds: 28 locations (17 U.S. acquisitions, 11 Latin America openings). Full-year store additions: 344; total locations at year-end: 3,330 (1,207 U.S.; 1,837 LatAm; 286 U.K.).

Segment performance highlights

U.S. and LatAm pawn: strong revenue and net-revenue growth (total segment revenues +14% Q4, +12% full year) with pawn fees up ~10% Q4. Latin America pawn Q4 revenue +27% USD (+17% constant currency); same-store receivables +23% constant currency. U.K. (first full quarter post H&T acquisition): Q4 revenues $96M and pre-tax operating income $35M (36% margin). AFF (POS payments): Q4 segment pre-tax income $33M (↓16% YoY due to previously disclosed merchant bankruptcies); excl. those bankruptcies origination volume rose ≈8%.

Profitability & margins

Net revenue (gross profit) grew faster than top-line: +22% Q4 and +13% full year, indicating margin expansion. Retail sales margins: 43% in Q4 and 42% for full year. Total pawn segment pre-tax operating margin: 27% in Q4 and 26% for full year.

Cash flow, balance sheet & leverage

Operating cash flow (2025): $586M (record). Adjusted free cash flow: $307M. Total assets at Dec 31, 2025: $5.301B. Outstanding debt: $2.2B (including $1.5B unsecured fixed-rate notes). Revolver outstanding balance: $559M. Net debt / adjusted EBITDA: 3.0x (2.7x proforma including acquisition EBITDA).

Shareholder returns

Board declared $0.42 per-share quarterly cash dividend (annualized $1.68). Q4 share repurchases: 157k shares for $25M (completing the prior $200M program). Full-year repurchases: 912k shares for $115M. New repurchase authorization: up to $150M.

2026 outlook (as provided)

Company expects pawn to remain primary earnings driver with pawn receivables up ~14% year‑to‑date; anticipates low double‑digit pawn-fee revenue growth and merchandise sales growth of 8–10%, targeting ~42% retail margins. AFF origination volumes forecast +5% to +10% in 2026, though AFF revenues could decline slightly year-over-year. Consolidated effective tax rate expected ~25–26% and interest expense may rise 5–10%.