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Firstcash Holdings, Inc.

FCFS

Retail-Miscellaneous Retail

Mkt Cap

$5.386B

PE

24.56

Debt

$1.618B

Cash

$127M

EV

$6.877B

FCF

$356M

Market Cap

$5.386B

P/E Ratio

24.56

Debt

$1.618B

Cash

$127M

EV

$6.877B

FCF

$356M
Charts data: {"Earnings":[{"time":"2014-12-30","value":85166000},{"time":"2015-12-30","value":60710000},{"time":"2016-12-30","value":60127000},{"time":"2017-12-30","value":143892000},{"time":"2018-12-30","value":153206000},{"time":"2019-12-30","value":164618000},{"time":"2020-12-30","value":106579000},{"time":"2021-12-30","value":124909000},{"time":"2022-12-30","value":253495000},{"time":"2023-12-30","value":219301000}],"Sales":[{"time":"2014-12-30","value":712877000},{"time":"2015-12-30","value":704602000},{"time":"2016-12-30","value":1088377000},{"time":"2017-12-30","value":1779822000},{"time":"2018-12-30","value":1780858000},{"time":"2019-12-30","value":1864439000},{"time":"2020-12-30","value":1631284000},{"time":"2021-12-30","value":1698965000},{"time":"2022-12-30","value":2728942000},{"time":"2023-12-30","value":3151796000}],"Net Margins":[{"time":"2014-12-30","value":0.11946801481882569},{"time":"2015-12-30","value":0.08616211705331521},{"time":"2016-12-30","value":0.05524464408931831},{"time":"2017-12-30","value":0.0808462868758786},{"time":"2018-12-30","value":0.0860293184521169},{"time":"2019-12-30","value":0.0882935832172573},{"time":"2020-12-30","value":0.06533442368097768},{"time":"2021-12-30","value":0.07352064345057138},{"time":"2022-12-30","value":0.09289131099158575},{"time":"2023-12-30","value":0.06957969360961179}],"Assets":[{"time":"2014-12-30","value":714675000},{"time":"2015-12-30","value":757021000},{"time":"2016-12-30","value":2145203000},{"time":"2017-12-30","value":2062784000},{"time":"2018-12-30","value":2107974000},{"time":"2019-12-30","value":2439440000},{"time":"2020-12-30","value":2372197000},{"time":"2021-12-30","value":3836452000},{"time":"2022-12-30","value":3904867000},{"time":"2023-12-30","value":4289915000}],"Stockholders Equity":[{"time":"2014-12-30","value":448551000},{"time":"2015-12-30","value":431382000},{"time":"2016-12-30","value":1449986000},{"time":"2017-12-30","value":1475333000},{"time":"2018-12-30","value":1318104000},{"time":"2019-12-30","value":1350035000},{"time":"2020-12-30","value":1283815000},{"time":"2021-12-30","value":1808127000},{"time":"2022-12-30","value":1879766000},{"time":"2023-12-30","value":1996418000}],"ROE":[{"time":"2014-12-30","value":0.1898691564615841},{"time":"2015-12-30","value":0.14073373483362775},{"time":"2016-12-30","value":0.04146729692562549},{"time":"2017-12-30","value":0.09753187924353349},{"time":"2018-12-30","value":0.1162321030813957},{"time":"2019-12-30","value":0.12193609795301603},{"time":"2020-12-30","value":0.08301741294501155},{"time":"2021-12-30","value":0.06908198373233738},{"time":"2022-12-30","value":0.1348545510451833},{"time":"2023-12-30","value":0.10984723640039311}],"ROA":[{"time":"2014-12-30","value":0.18261027739881763},{"time":"2015-12-30","value":0.13813091050314324},{"time":"2016-12-30","value":0.05303320944451411},{"time":"2017-12-30","value":0.09518543870807608},{"time":"2018-12-30","value":0.11123571732858185},{"time":"2019-12-30","value":0.10602679303446692},{"time":"2020-12-30","value":0.0729463025204062},{"time":"2021-12-30","value":0.043399995620953945},{"time":"2022-12-30","value":0.08287939128272487},{"time":"2023-12-30","value":0.06826452272364371}]}

FirstCash Holdings, Inc, together with its subsidiaries, operates retail pawn stores in the United States, Mexico, and rest of Latin America. Its pawn stores lend money on the collateral of pledged personal property, including jewelry, electronics, tools, appliances, sporting goods, and musical instruments; and retails merchandise acquired through collateral forfeitures on forfeited pawn loans and over-the-counter purchases of merchandise directly from customers. The company also provides retail POS payment solutions, which focuses on LTO products and facilitating other retail financing payment options across the network of traditional and e-commerce merchant partners. FirstCash Holdings, Inc was incorporated in 1988 and is headquartered in Fort Worth, Texas.

Sector

  • EZPW Logo

    EZPW

Growth

%

%

Discount

%

%

Multiple

g\r+10%+11%+12%+13%+14%
0%109887
+1%1110988
+2%13111098
+3%141311109
+4%1714121110
Years012345678910TV
FCF$356M$444.5M$545.2M$656.6M$776.4M$900.9M$1.025B$1.145B$1.252B$1.343B$1.41B$14.1B
DCF$386.5M$412.2M$431.8M$443.9M$447.9M$443.3M$430.3M$409.4M$381.7M$348.5M$3.485B
Value$7.62B

In the chart Earnings are multiplied by this value.

Earnings Growth 15%
Earnings Stability 63%


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.

Years12-201512-201612-201712-201812-201912-202012-202112-202212-2023TTM
Net Margin8.6%5.5%8.1%8.6%8.8%6.5%7.4%9.3%7%7%
ROA14%5.3%9.5%11%11%7.3%4.3%8.3%6.8%6.8%
ROE14%4.1%9.8%12%12%8.3%6.9%13%11%11%

What is the average Net Margin?

The average Net Margin over the past 5 years is +7.93%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is -0.17%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is +8.08%.

What is the trend of Return on Assets (ROA)?

The trend of ROA over the past 5 years is -0.9%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is +10.58%.

What is the trend of Return on Equity (ROE)?

The trend of ROE over the past 5 years is -0.02%.


Safety & Stabiliy

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.

Years12-201512-201612-201712-201812-201912-202012-202112-202212-2023TTM
Debt FCF3.607.302.222.863.393.377.223.204.554.55
Debt Equity0.600.320.280.450.470.490.720.740.810.81
MIN
Graham Stability--100%100%100%69%88%100%100%69%

What is the Debt/FCF?

The Debt/FCF trailing twelve month is 4.55.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is 0.33.

What is the Graham’s Stability?

Graham’s Stability measure stands at 0.69.


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.

Years12-201612-201812-202012-2022Trend
Revenue16%12%25%15%-0.77%
Net Income20%7.4%27%-13%1.4%
Stockholders Equity4.7%8.7%16%6.2%-9.5%
FCF28%11%24%-18%-0.11%

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is +12.09%.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is -0.77%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is +7.44%.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is +1.44%.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is +8.66%.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is -9.54%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is +11.37%.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is -0.11%.