Ezcorp Inc

Consumer Discretionary
Other Specialty Stores
www.ezcorp.com

Earnings Score
Moat Score
Safety Score

Market Cap $665.26M
PE 8
Debt $436.45M
Cash $179.81M
EV $921.90M
FCF $77.84M

Earnings

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Sales & Net Margins

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Earnings	$83.10M
EBIT	$115.61M
ROE	10%
ROA	8%
FCF	$77.84M
Equity	$804.57M
Growth Stability	-295%
PE	8.01
PEG	0.14
PB	0.83
P/FCF	8.55
P/S	0.57
Price/Cash	0.27
Debt/Equity	0.54
Debt/FCF	5.61
Net Margins	7%
Gross Margins	59%
Op. Margins	10%
Earnings CAGR	8%
Sales Growth YoY	9%
Sales Growth QoQ	5%
Sales CAGR	5%
FCF CAGR	-0%
Equity CAGR	1%
Earnings Stability	0.08
Earnings Growth YoY	48%
Earnings Growth QoQ	-15%

Earnings CAGR 5Y	57%
Sales CAGR 5Y	9%
FCF CAGR 5Y	27%
Equity CAGR 5Y	4%
Earnings CAGR 3Y	17%
Sales CAGR 3Y	17%
FCF CAGR 3Y	41%
Equity CAGR 3Y	8%
Market Cap	$665.26M
Revenue	$1.16B
Assets	$1.49B
Total Debt	$436.45M
Cash	$179.81M
Shares Outstanding	54.94M
EV	921.9M
Earnings Score	7%
Moat Score	87%
Safety Score	53%
Final Score	49%
Working Capital	459.62M
Current Ratio	2.71
Gross Profit	$682.27M
Shares Growth 3y	-1%
Equity Growth QoQ	0%
Equity Growth YoY	8%

Assets & ROA

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Stockholders Equity & ROE

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EZCORP Inc is a United States-based company engaged in offering pawn loans in the United States and Mexico. It also offers short-term unsecured loans and other consumer financial products, and buy and sell second-hand goods. The operating segments of the company are US Pawn, Latin America Pawn, and other international. US Pawn segment includes all pawn activities in the United States. Latin America Pawn segment includes all pawn activities in Mexico and other parts of Latin America. The company generates revenue from merchandise sales, jewelry scrapping sales, and pawn service charges, of which key revenue is derived from the merchandise sales which are primarily collateral forfeited from pawn lending operations and used merchandise purchased from the customers.

SEC Filings

Direct access to Ezcorp Inc (EZPW) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-K Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-Q Dec 31
- 10-K Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-Q Dec 31
- 10-K Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Ezcorp Inc compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Ezcorp Inc compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 8%

Stability 8%

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Ezcorp Inc Discounted Cash Flow

Fully customizable DCF calculator online for Ezcorp Inc.

Years

Calculation mode

= $773M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$78M	$78M	$78M	$78M	$78M	$77M	$77M	$77M	$77M	$77M	$77M	$770M
DCF		$71M	$64M	$58M	$53M	$48M	$44M	$40M	$36M	$33M	$30M	$297M
Value	$773M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	09/2015	09/2016	09/2017	09/2018	09/2019	09/2020	09/2021	09/2022	09/2023	09/2024	TTM
Net Margins	-12%	-12%	4%	5%	0%	-8%	1%	6%	4%	7%	7%
ROA	-	3%	5%	6%	4%	-4%	2%	6%	6%	8%	8%
ROE	-	-15%	5%	5%	0%	-11%	1%	7%	5%	10%	10%

Net Margins (7.15%)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	09/2015	09/2016	09/2017	09/2018	09/2019	09/2020	09/2021	09/2022	09/2023	09/2024	TTM
Debt over FCF	-	5.79	10.47	14.62	4.92	15.44	13.85	9.13	6.55	5.61	5.61
Debt over Equity	0.56	0.53	0.52	0.94	0.43	0.49	0.47	0.46	0.54	0.54	0.54
Growth Stability	-	-	-	-	-	-295%	-	-	-	100%	-295%

Bad Debt/FCF ratio (5.61)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Good Debt/Equity ratio (0.54)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-295%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	09/2015	09/2016	09/2017	09/2018	09/2019	09/2020	09/2021	09/2022	09/2023	09/2024	CAGR 5Y
Revenue YoY growth	-	-7%	2%	9%	4%	-3%	-11%	21%	18%	11%	9%
Earnings YoY growth	-	-3%	-134%	26%	-97%	-5K%	-113%	482%	-23%	116%	57%
Equity YoY growth	-	-12%	11%	13%	-0%	-13%	4%	3%	8%	8%	4%
FCF YoY growth	-	-0%	-40%	46%	34%	-68%	11%	52%	77%	27%	27%