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FirstCash Holdings, Inc., along with its wholly owned subsidiaries (together, FirstCash or the Company ), is the leading operator of pawn stores in the U.S., Latin America and the U.K. FirstCash s primary line of business is the operation of retail pawn stores, also known as pawnshops.
Margins and capital returns are both well above average: 45.77% operating margin, ROIC at 33.31%. Consistent with durable pricing power, though that alone doesn't make it a buy.
Revenue grew 8.3%, steady but not accelerating.
Net debt of $2.44B represents 4.6x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$3.51B
▲ +8.3% YoY
Net Income (TTM)
$330M
▲ +27.6% YoY
Op. Margin
45.77%
▲ +1.0pp YoY
ROIC
33.31%
▼ -0.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$531M
▲ +12.6% YoY
Op. Cash Flow (TTM)
$586M
▲ +8.5% YoY
Net Debt
$2.44B
Cash & Equiv.
$125M
5Y CAGR: +16.6%
5Y CAGR: +23.5%
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