Logo

FCFS

FirstCash Holdings, Inc

FCFS

FirstCash Holdings, Inc • NASDAQ
$158.41 ▼ -0.11% (-0.18)
Market Cap $7.05 B
52w High $166.08
52w Low $100.24
Dividend Yield 1.60%
P/E 22.89
Volume 116.69K
Outstanding Shares 44.49M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $935.579M ▲ $324.407M ▲ $82.807M ▲ 8.851% ▲ $1.87 ▲ $249.757M ▲
Q2-2025 $830.622M ▼ $307.62M ▲ $59.805M ▼ 7.2% ▼ $1.35 ▼ $133.28M ▼
Q1-2025 $836.423M ▼ $288.611M ▼ $83.591M ▲ 9.994% ▲ $1.88 ▲ $253.009M ▼
Q4-2024 $883.811M ▲ $296.617M ▼ $83.547M ▲ 9.453% ▲ $1.87 ▲ $261.101M ▲
Q3-2024 $837.321M $344.363M $64.827M 7.742% $1.45 $243.465M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $130.24M ▲ $5.182B ▲ $2.983B ▲ $2.2B ▲
Q2-2025 $101.467M ▼ $4.514B ▲ $2.374B ▲ $2.14B ▲
Q1-2025 $146.034M ▼ $4.426B ▼ $2.368B ▼ $2.058B ▲
Q4-2024 $175.095M ▲ $4.477B ▲ $2.423B ▲ $2.054B ▲
Q3-2024 $106.32M $4.393B $2.394B $1.999B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $0 ▲ $0 ▼ $0 ▲ $0 ▲ $0 ▲ $0 ▼
Q2-2025 $-89.105M ▼ $116.854M ▼ $-124.063M ▼ $-40.708M ▲ $-44.567M ▼ $103.902M ▼
Q1-2025 $83.591M ▲ $126.64M ▼ $-50.147M ▲ $-105.317M ▼ $-29.061M ▼ $113.726M ▼
Q4-2024 $83.547M ▲ $198.149M ▲ $-106.108M ▲ $-19.006M ▼ $68.775M ▲ $185.936M ▲
Q3-2024 $64.827M $113.09M $-147.619M $31.663M $-7.373M $99.722M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Retail POS Payment Solutions
Retail POS Payment Solutions
 $250.00M ▲$230.00M ▼$220.00M ▼$210.00M ▼
US Pawn Segment
US Pawn Segment
 $0 ▲$420.00M ▲$410.00M ▼$440.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Over the past five years, FirstCash has grown into a much larger and more profitable business. Revenue has climbed steadily and is now roughly double what it was at the start of the period, helped by the American First Finance (AFF) acquisition and continued pawn store expansion. Profitability has generally improved as well: gross profit and operating income have both trended higher, showing that scale and mix are working in their favor. Net income has been more uneven, with a dip after the big expansion and then a recovery, which suggests some integration and funding costs but no broad deterioration in the core business. Overall, the income statement shows a company that has grown quickly while keeping its margins healthy to slightly better over time.

Balance Sheet

Balance Sheet The balance sheet has expanded significantly, reflecting acquisitions and store growth. Assets and shareholders’ equity have both increased, which points to a larger and more established platform. Debt levels have also risen meaningfully, so the company is now more leveraged than it used to be, but equity has grown alongside, so the capital structure still looks reasonably balanced rather than stretched. Cash on hand is modest relative to total assets, which is typical for this kind of recurring, cash-generative lending and retail business, but it does mean the company relies on ongoing cash flow and credit lines rather than a large cash cushion.

Cash Flow

Cash Flow Cash generation is a clear strength. Operating cash flow has increased in line with earnings growth, and free cash flow has remained solid even after funding new stores and technology investments. Capital spending is relatively light compared with the size of the business, so a good share of profits translates into available cash. This gives FirstCash flexibility to service its higher debt load, invest in further expansion, and return capital to shareholders, as long as credit conditions and customer demand remain supportive.

Competitive Edge

Competitive Edge FirstCash operates from a position of scale and specialization in serving underbanked and non-prime consumers. Its large pawn store footprint across the U.S. and Latin America creates cost advantages, strong local brand recognition, and a high barrier for smaller rivals. The business mix is also a strength: traditional pawn lending tends to hold up or even improve in weaker economies, while point‑of‑sale and lease‑to‑own financing benefits more from strong retail spending. Long operating history and proprietary data on collateral, pricing, and credit behavior add another layer of advantage. Against that, the company faces ongoing regulatory scrutiny of high-cost credit products, reputational sensitivity, competition from digital-only lenders and “buy now, pay later” providers, and execution risk in managing a large, multi-country footprint.

Innovation and R&D

Innovation and R&D Innovation is centered on technology and product design rather than formal R&D. The AFF platform is the standout asset: it uses data-driven underwriting to serve non-prime customers, and it works across in‑store, online, and mobile channels. This allows FirstCash to participate in growth areas like e‑commerce and integrated point‑of‑sale financing, not just in‑person pawn transactions. The company is focused on expanding AFF’s merchant network, improving its analytics and fraud tools, and eventually taking these digital offerings into Latin American markets. A key opportunity—and risk—is how well FirstCash can blend its physical pawn presence with its digital finance platform to deepen customer relationships while managing credit risk in a more technology-driven model.

Summary

FirstCash today is a much larger, more diversified financial services company than it was five years ago. Revenue and operating profits have grown strongly, free cash flow is healthy, and the balance sheet, while more leveraged, remains supported by rising equity and solid cash generation. Its competitive edge rests on scale in pawn lending, long experience with its customer base, and the addition of a modern, flexible digital financing platform through AFF. At the same time, the business is exposed to regulatory and reputational risk around serving non-prime consumers, competitive pressure from both traditional pawn operators and fintech lenders, and the need to carefully manage credit quality as it grows. Overall, the picture is of a resilient, cash-generative company using technology and diversification to expand, with its main challenges centered on execution, regulation, and credit discipline rather than demand for its services.

NEWS

October 30, 2025 · 6:00 AM UTC

FirstCash Reports Record Third Quarter Operating Results Across All Segments; Recent U.K. Acquisition Drives Additional Revenue and Earnings Growth; Declares Quarterly Cash Dividend and Authorizes New $150 Million Share Repurchase Plan

Read more