FirstCash Inc (FCFS)
🔔 Watch stock
symbol.quality_heading
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
The business model plainly carries: pawn lending has been robust for centuries, the store metrics are strong, the books are clean enough for 8 of 9 on the Piotroski test, operating cash flow runs well above reported profit, and leverage stays inside the stated range. What remains open is a material operating question — twice over. First, the 2026 earnings jump depends 71 percent on a commodity price and an acquisition rather than on the pawn margin. Second, the AFF segment is shrinking 39 percent while $486.2 million of goodwill sits unchanged on it and tangible equity amounts to only $91.0 million. This is not an existential issue — interest coverage, cash flow and an Altman Z-Score of 7.71 argue clearly against that — but it is more than a formality. Hence yellow: proven strength at the core, unresolved questions at two edges. The decision is yours.
symbol.quality_note
On July 26, 2026, our in-house stock scanner listed FirstCash on eleven screens, including the Piotroski test for healthy books: 8 of 9 points. The company runs 3,343 pawn stores in four countries and reported a record first half on July 23, 2026 — $2,126.3 million in revenue and $201.2 million in net income, up 40 percent. The segment tables in that same release show where the jump came from: gross profit on scrap gold rose from $11.7 million to $68.8 million, which is 71 percent of the entire increase in pre-tax income. Meanwhile the AFF lease-to-own segment shrank 39 percent, with $486.2 million of goodwill still sitting unchanged on its balance sheet line. No advice here — just the question of which part of this record belongs to the pawn shop and which to the gold price.
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Stock Watch
This analysis is as of July 26, 2026. Stock Watch will tell you what's changed at FCFS since then.
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Appears in These Scanners
This stock currently matches 14 of our scanner strategies — each hit links to the scanner.
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Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 204.00 $ — 72% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/03/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
Quality & Screener
AI Rating
Uses AIFirstCash entscheidet die Ratenkauf- und Mietkaufanträge seiner Tochter AFF über eine eigene, automatisierte Entscheidungsplattform, deren Algorithmen laut Geschäftsbericht 2025 auch Antragsteller ohne Kreditscore bewerten; künstliche Intelligenz und maschinelles Lernen nennt derselbe Bericht als Technik, in die investiert werden muss — als eigenes Produkt verkauft wird sie nicht.
View the full file — quotes, sources, reviewed filings
„A proprietary decisioning platform is utilized by AFF to determine whether a particular applicant meets AFF’s LTO or RISA decisioning criteria or the Bank’s loan qualifications for a particular amount. Sophisticated algorithms consider external and internal data points beyond traditional credit scores, allowing AFF or the Bank to approve customers that do not have a credit score. AFF employs an automated application decisioning process, creating a highly efficient, scalable model."
AFF nutzt eine eigene Entscheidungsplattform, um festzustellen, ob ein Antragsteller die Mietkauf- oder Ratenkaufkriterien von AFF beziehungsweise die Kreditanforderungen der Partnerbank für einen bestimmten Betrag erfüllt. Ausgefeilte Algorithmen berücksichtigen externe und interne Datenpunkte jenseits klassischer Kreditscores und erlauben es AFF oder der Bank, auch Kunden ohne Kreditscore zu genehmigen. AFF setzt einen automatisierten Antragsentscheidungsprozess ein und schafft damit ein hocheffizientes, skalierbares Modell.
„The Company’s industry is marked by rapid technological developments and innovations, such as the use of artificial intelligence and machine learning, to conform to evolving industry standards. The Company may be required to make significant investments in its information technology systems, including those related to artificial intelligence and machine learning, in order to maintain its competitive position in the market."
Die Branche des Unternehmens ist von schnellen technologischen Entwicklungen und Neuerungen geprägt, etwa dem Einsatz künstlicher Intelligenz und maschinellen Lernens, um sich an fortschreitende Branchenstandards anzupassen. Das Unternehmen muss möglicherweise erhebliche Investitionen in seine Informationstechnik tätigen, auch in solche mit Bezug zu künstlicher Intelligenz und maschinellem Lernen, um seine Wettbewerbsposition am Markt zu halten.
Filings Reviewed: 10-Q 2026-04-24 · 10-K 2026-02-09 · 10-Q 2025-11-03 · 10-Q 2025-07-28 · 10-Q 2025-04-28 · 10-K 2025-02-03
Rated on July 26, 2026 · How the Rating Is Built
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Analysts & Price Target
The price target sits 17.9% above the current price.
- Consensus
- Sell
- Analyst Ratings
- 5
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 11.29 | 11.00 – 11.85 | 4,372 | 28.8% | 5 |
| 12/31/2027 | 13.05 | 12.55 – 13.76 | 4,785 | 15.6% | 5 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Next Reporting Date
- Expected Earnings per Share
- 2.74 $
Expected date of the next quarterly or annual figures. Dates do shift occasionally — only the invitation issued by the company is binding.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 1.86 | 21.30 | 884 | 3.70 | 9.50 | 198 | 186 |
| 2025: Q1 | 1.86 | 37.50 | 836 | 0.00 | 10.00 | 127 | 114 |
| 2025: Q2 | 1.33 | 22.70 | 831 | 0.00 | 7.20 | 117 | 104 |
| 2025: Q3 | 1.84 | 27.70 | 936 | 11.70 | 8.90 | 136 | 124 |
| 2025: Q4 | 2.35 | 26.60 | 1,058 | 19.80 | 9.80 | 207 | 189 |
| 2026: Q1 | 2.43 | 30.90 | 1,052 | 25.70 | 10.20 | 154 | 134 |
| 2026: Q2 | 2.12 | 59.40 | 1,075 | 29.40 | 8.70 | 177 | 177 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Annual Figures
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 1,088 | 149 | 60 | 1.72 | 97 | 1,450 | 2,145 |
| 2017 | 1,780 | 218 | 144 | 3.00 | 220 | 1,475 | 2,063 |
| 2018 | 1,781 | 240 | 153 | 3.41 | 243 | 1,318 | 2,108 |
| 2019 | 1,864 | 259 | 165 | 3.81 | 232 | 1,350 | 2,439 |
| 2020 | 1,631 | 196 | 107 | 2.56 | 222 | 1,284 | 2,372 |
| 2021 | 1,699 | 197 | 125 | 3.04 | 223 | 1,808 | 3,836 |
| 2022 | 2,729 | 284 | 254 | 5.36 | 469 | 1,880 | 3,905 |
| 2023 | 3,152 | 390 | 219 | 4.80 | 416 | 1,996 | 4,290 |
| 2024 | 3,389 | 450 | 259 | 5.76 | 540 | 2,054 | 4,477 |
| 2025 | 3,661 | 562 | 330 | 7.42 | 586 | 2,277 | 5,301 |
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Assessment: Opportunities & Risks
The store business is verifiably strong: consolidated pawn receivables were 63 percent above the prior year as of June 30, 2026, and 22 percent higher on a same-store basis. In the U.S. it was the twelfth consecutive quarter of double-digit same-store growth, the retail margin held at 43 percent and inventory aged over one year fell to 1.5 percent. Pre-tax income of the three pawn segments reached $452.4 million in the first half of 2026 versus $283.8 million.
Of the $79.8 million increase in first-half 2026 pre-tax income, $57.1 million is attributable to gross profit on scrap gold — about 71 percent. Of that, $37.2 million came from the U.K. business acquired on August 14, 2025. Without the scrap effect, pre-tax income would have grown roughly 12 percent instead of 42 percent. A commodity price is not an operating achievement.
The lease-to-own arm AFF earned $54.7 million of pre-tax income in the first half of 2026 against $90.2 million a year earlier — down 39 percent. Origination volume fell 14 percent in the second quarter, and the company expects segment net revenue 20 to 25 percent lower for full-year 2026. Furniture fell from 48 percent of volume in 2023 to 23 percent in 2025.
Of $2,321.8 million in shareholders' equity as of June 30, 2026, $2,030.6 million is goodwill and $200.2 million other intangibles; tangible equity comes to $91.0 million. $486.205 million of that goodwill sits on the shrinking AFF segment and was carried unchanged as of December 31, 2023, 2024 and 2025 — with no impairment determined for 2025 or 2024.
Financial debt rose from $1,729.3 million to $2,346.0 million in eighteen months, and first-half 2026 interest expense reached $70.2 million versus $53.8 million. Against that stand leverage of 2.7 times inside the stated 2.0 to 3.0 range, $673 million of operating cash flow over twelve months, and a $750 million note issue in May 2026 that termed out debt to 2034 at 6.125 percent.
At a market capitalization of roughly $9.7 billion (data as of July 24, 2026), the price-to-earnings ratio is about 25 on trailing twelve-month net income and about 22 on adjusted net income. Enterprise value of roughly $11.9 billion equals about 15 times adjusted EBITDA. The company itself repurchased shares in 2026 at an average of $206.73.
FirstCash runs 3,343 pawn stores in four countries, and that core business clearly works: pawn receivables 63 percent above the prior year as of June 30, 2026, twelve consecutive quarters of double-digit same-store growth in the U.S., $673 million of operating cash flow over twelve months and 8 of 9 points on the Piotroski test. But the record first half of 2026 stands on two legs that do not belong to pawn lending: 71 percent of the earnings gain came from gross profit on scrap gold, much of it from a U.K. business bought in August 2025. At the same time the AFF lease-to-own segment saw earnings fall 39 percent while $486.2 million of goodwill remains booked against it — on tangible equity of $91.0 million. Not investment advice.
- FirstCash reached our research list through our in-house Piotroski F-Score screen (8 of 9 points, relative strength 80 of 99, as of July 26, 2026); the U.S. selection of that screen held 16 names at the time. On the same day the stock appeared on eleven scanner screens in total, including Quality Growth, Martin Zweig: Growth at a Reasonable Price and Stan Weinstein: Stage 2. These lists are recalculated daily.
- Identity note: FirstCash Holdings, Inc. (CIK 0000840489) was named FirstCash, Inc. until 2021 and First Cash Financial Services, Inc. before that; older documents carry those names. On June 18, 2026, the company reincorporated from Delaware to Texas — share count, shareholder rights and the Nasdaq listing were unaffected. Not to be confused with the U.K. acquisition H&T Group plc (part of the group since August 14, 2025) or with the pending acquisition of Ramsdens Holdings plc.
- Data basis and evergreen note: annual figures come from the 10-K for 2025 (filed February 9, 2026), quarterly figures from the 10-Q as of March 31, 2026 (filed April 24, 2026), and half-year figures from the Form 8-K filed July 23, 2026. The only price anchor in the text is not a daily quote but the average repurchase price of $206.73 documented in that release. Analyses are evergreen; daily prices are not a buy argument.
About the Company
FirstCash Holdings, Inc. betreibt mit ihren Tochtergesellschaften Pfandhäuser im Einzelhandel in den USA, Mexiko, dem übrigen Lateinamerika und dem Vereinigten Königreich.
| CEO Insider Trades (12 Mo.) | selling own stock |
|---|---|
| Employees | 20,000 |
| Headquarters | Fort Worth, TX |
| Address | 1600 West 7th Street, 76102 Fort Worth, United States |
| Phone | 817 335 1100 |
| Website | firstcash.com |
| IPO Date | 25. Apr 1991 |
| ISIN | US33768G1076 |
| Stock Split | 2:1 on 02/22/2006 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Rick L. Wessel | Vice Chairman & CEO | 1959 |
| R. Douglas Orr | Executive VP, CFO, Treasurer & Secretary | 1961 |
| Raul R. Ramos | Senior Vice President of Latin American Operations | 1966 |
| Howard F Hambleton | AFF President | 1973 |
| Brian D. Hostetler | Senior VP & Chief Accounting Officer | 1984 |
| Gar Jackson | Investor Relations-Global IR Group | – |
| Peter H. Watson J.D. | Senior Vice President of Compliance & Government Relations | 1949 |
| Sean D. Moore | Senior Vice President of Store Development & Facilities | 1977 |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Chart
Interactive price chart (TradingView).
Data as of: July 31, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.