World Acceptance Corporation
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
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.
Why this colour
Whoever buys today bets that Washington keeps not enacting the 36 percent cap, that the charge-off ratio stays below its ten-year average, and that the buyback machine keeps levering earnings per share. Whoever waits checks three spots in every quarterly report (10-Q): the net charge-off ratio (heading toward 17 percent or beyond?), the fixed-charge covenant (does the regular 2.25 bar apply again from the quarter ending December 31, 2026?), and the CEO search (who leads for good?). A permanent CEO plus two quarters without covenant forbearance would be the strongest signals that the machine is running smoothly again. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
World Acceptance is the cheapness trap in its purest form, served as an exam question: a genuine cash machine with a radical buyback policy at 3.6 times a free cash flow that is systematically flattered for lenders — set against a business model whose ending the company itself describes in one sentence, a profit zigzagging on bonuses and charge-offs, a bank covenant loosened on May 22, 2026, a vacant corner office and a 46.3 percent anchor shareholder. The low multiple is the premium for exactly these risks — not the proof they are absent. Not investment advice.
Cash conversion & buyback machine
$259.4 million of operating cash flow against $3.9 million of capital expenditures and $132.4 million of share repurchases in fiscal 2026; shares outstanding fell from 9.3 million (2019) to 4.6 million (May 2026) — a capital-light business that consistently returns to its remaining shareholders (10-K FY 2026).
Earnings quality & loan book
Net income without a trend ($21.2 to $89.2 million across eleven years, most recently −61.2 percent to $34.6 million), driven by loss provisioning (32.2 percent of revenue) and a bonus yo-yo ($22.0 million reversed in FY 2025, $39.0 million more stock compensation in FY 2026); an 18.5 percent net charge-off ratio against a 51.4 percent average APR.
Regulatory risk
The company itself writes that a national 36 percent rate cap would "almost certainly eliminate" the current business; 61.7 percent of the loan book sits above that threshold, and the CFPB holds supervisory powers (10-K FY 2026, Item 1/1A). Not an acute risk, but a permanent existential one.
Leadership & funding
CEO resignation effective April 10, 2026 with an interim successor (Matricciani, CEO 2015–2018), a COO change in February 2026; after the bond redemption, funding hangs on a secured bank facility whose fixed-charge covenant had to be lowered temporarily from 2.25 to as low as 2.10 on May 22, 2026 (10-K FY 2026, Note 19).
Technicals & ownership structure
Stage-2 uptrend, price above the 50- and 200-day lines, 11 scanner hits, Piotroski 7 of 9 (data as of July 8, 2026) — but a thin float (Prescott ~46.3 percent, only 4.6 million shares) amplifies moves in both directions, and the insider tally reads 9 sales to zero purchases in twelve months.
Worth Noting
WRLD reached the research list via rank 11 in our in-house FCF/market-cap scanner (as of July 18, 2026); the 11 hits in the in-house stock scanner (data as of July 8, 2026) provided the confluence. Scanner memberships shift daily — the stated data cut-off governs.
Lender particularity: operating cash flow contains interest and principal collections but not newly originated loans (investing cash flow). FCF-based metrics therefore systematically overstate free liquidity; in fiscal 2026 the loan book grew by roughly $230 million net. The trailing P/E is simultaneously distorted by stock-compensation reversals (FY 2025) and catch-up expense (FY 2026).
Valuation figures dated July 8, 2026 (about $640 million market value); analyses are evergreen, daily prices are not a buy argument. All filing quotes were verified verbatim against the SEC originals (10-K FY 2026, filed June 4, 2026).
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at WRLD since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 115.60 $ to 223.80 $ · Last price: 184.80 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Credit Services
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| World Acceptance Corporation WRLD | 0.8 | 27.0 | 0.0 | 69.2 | – | 3.7 | 10.1 |
| Visa Inc. Class A V | 699.4 | 33.2 | 24.3 | 97.7 | 67.4 | 11.3 | 7.7 |
| Mastercard Inc MA | 500.7 | 33.9 | 23.1 | 100.0 | 60.8 | 16.4 | -4.9 |
| American Express Company AXP | 213.1 | 19.5 | 0.0 | 62.3 | 21.3 | 8.4 | -6.4 |
| Capital One Financial Corporation COF | 124.4 | 62.2 | 0.0 | 100.0 | 28.6 | 28.4 | -9.1 |
| PayPal Holdings Inc PYPL | 45.7 | 10.1 | 6.6 | 40.5 | 17.0 | 4.3 | -20.3 |
| Synchrony Financial SYF | 25.3 | 7.7 | 0.0 | 100.0 | 48.0 | -7.9 | 2.1 |
| Affirm Holdings Inc AFRM | 23.7 | 63.7 | 25.7 | 48.9 | 8.5 | 38.8 | -22.3 |
| SoFi Technologies Inc. SOFI | 21.0 | 35.7 | 0.0 | 83.7 | 18.3 | 82.6 | -38.4 |
| Median of companies shown | 45.7 | 33.2 | 0.0 | 83.7 | 24.9 | 11.3 | -6.4 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
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.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2017 | 491 | 106 | 74 | 8.38 | 219 | 461 | 801 |
| 2018 | 503 | 97 | 54 | 5.99 | 218 | 541 | 841 |
| 2019 | 545 | 90 | 37 | 4.05 | 245 | 552 | 855 |
| 2020 | 590 | 35 | 28 | 3.54 | 281 | 412 | 1,030 |
| 2021 | 528 | 111 | 88 | 13.23 | 227 | 405 | 954 |
| 2022 | 585 | 66 | 54 | 8.47 | 272 | 373 | 1,218 |
| 2023 | 617 | 27 | 21 | 3.60 | 292 | 385 | 1,117 |
| 2024 | 573 | 99 | 77 | 13.19 | 266 | 424 | 1,056 |
| 2025 | 565 | 159 | 90 | 16.30 | 254 | 437 | 1,008 |
| 2026 | 585 | 45 | 35 | 6.88 | 259 | 351 | 1,054 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 2.45 | -13.80 | 139 | 0.60 | 9.70 | 61 | 60 |
| 2025: Q1 | 8.13 | 33.40 | 165 | 3.80 | 26.80 | 91 | 90 |
| 2025: Q2 | 0.30 | -83.50 | 133 | 2.30 | 1.00 | 58 | 57 |
| 2025: Q3 | -0.38 | -109.50 | 135 | 2.30 | -1.40 | 49 | 48 |
| 2025: Q4 | -0.18 | -107.40 | 141 | 1.90 | -0.60 | 58 | 57 |
| 2026: Q1 | 7.44 | -8.50 | 178 | 7.40 | 20.60 | 95 | 94 |
| 2026: Q2 | 1.33 | 343.30 | 139 | 5.10 | 4.40 | 64 | 63 |
What Do These Terms Mean?
- 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.
Screening
Appears in These Scanners
This stock currently matches 10 of our scanner strategies — each hit links to the scanner.
Quality & Balance Sheet
Breakout & Setup
Momentum & Trend
Research
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
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.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 03/31/2027 | 13.18 | 13.18 – 13.18 | 613 | 89.1% | 1 |
| 03/31/2028 | 15.14 | 15.14 – 15.14 | 655 | 14.9% | 1 |
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.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly -19.3% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $260.3M |
|---|---|
| Market cap | $843.0M |
| Free cash flow in year ten | $30.3M |
| Terminal value as a share of market value | 19.0% |
For comparison: over the past five years free cash flow grew by 3.5% per year.
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Geprüft am 18.07.2026 gegen die Geschäftsberichte (10-K) für die Geschäftsjahre 2026 (eingereicht 04.06.2026) und 2025 (22.05.2025) sowie die vier jüngsten Quartalsberichte (10-Q): In den ausgewerteten SEC-Filings von World Acceptance findet sich kein wesentlicher KI-Bezug. Die einzige Erwähnung von „artificial intelligence“ steht im Cybersecurity-Risikoteil des 10-K GJ 2026 und beschreibt KI ausschließlich als Werkzeug externer Angreifer („Artificial intelligence (‚AI') tools may increase threat actors' ability to detect or exploit vulnerabilities, to develop ransomware or other malware, to launch cyberattacks…“) — eine generische Bedrohungs-Floskel ohne konkreten Bezug zum eigenen Geschäftsmodell (Filial-Ratenkredite, Kreditversicherungen, Steuererklärungs-Service). Die vier 10-Q und der 10-K GJ 2025 enthalten null Treffer für „artificial intelligence“, „machine learning“ oder „AI“. Weder KI-Umsatzquelle (nicht „verkauft“) noch dokumentierter operativer KI-Einsatz etwa im Underwriting (nicht „nutzt“) noch ein konkretes, geschäftsmodellspezifisches KI-Risiko (nicht „bedroht“) — nach Kriterienkatalog dokumentierter Negativ-Befund: „neutral“.
View the full file — quotes, sources, reviewed filings
Filings Reviewed: 10-K 2026-06-04 · 10-K 2025-05-22 · 10-Q 2026-02-09 · 10-Q 2025-11-06 · 10-Q 2025-08-06 · 10-Q 2025-02-06
Rated on July 18, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years -1.7%
- More than 10% revenue growth is expected for the coming year 6.0%
- Share count grows by less than 3% a year -5.2%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 47.3%
- Gross margin at 40% or higher and without meaningful erosion 59.3%
- Goodwill from acquisitions does not grow faster than revenue 0.7%
- Net debt below twice EBITDA 12.1 x EBITDA
- Operating cash flow covers the profits of the last three years 578 m
- Return on capital at 15% or higher, or up versus two years ago 4.5%
- Insiders hold at least 10% or are net buyers 20.7%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
4/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 2.0%
- Exp. sales growth 3Y > 5% 5.8%
- EBIT growth 10Y > 5% -9.0%
- Exp. EBIT growth 3Y > 5% 48.3%
- Net debt < 4x EBIT 14.5x
- EBIT positive, 10Y straight 10
- Max. EBIT decline < 50% 75.6%
- Return on equity > 15% 10.2%
- ROCE > 15% 4.5%
- Expected return > 10% 93.3%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Aug 14, 2026 | Prescott General Partners LLC | 10% Owner | Sell | 7,992 | 187.69 | 1,500,018 |
| Aug 14, 2026 | Prescott General Partners LLC | 10% Owner | Sell | 42,091 | 187.69 | 7,900,060 |
| Aug 14, 2026 | Prescott General Partners LLC | 10% Owner | Sell | 10,656 | 187.69 | 2,000,025 |
| Aug 14, 2026 | Prescott General Partners LLC | 10% Owner | Sell | 72,460 | 187.69 | 13,600,017 |
| Aug 12, 2026 | Childers Jason E. | SVP, Information Technology | Sell | 2,000 | 190.74 | 381,480 |
| Aug 10, 2026 | Robinson Benjamin E III | Director | Sell | 90 | 187.26 | 16,853 |
| Aug 3, 2026 | McIntyre Scott | SVP, Accounting | Sell | 1,300 | 185.00 | 240,500 |
| Jul 30, 2026 | Calmes John L Jr | See remarks | Sell | 2,000 | 186.00 | 372,000 |
The company
About the Company
World Acceptance Corporation ist im Verbraucherkreditgeschäft in den USA tätig. Das Unternehmen bietet kurzfristige kleine Ratenkredite, mittelfristige größere Ratenkredite, zugehörige Kreditversicherungen sowie ergänzende Produkte und Dienstleistungen für Privatpersonen an.
- Employees
- 2,907
- Headquarters
- Greenville, SC
- Address
- 104 S. Main St., 29601 Greenville, United States
- Phone
- 864 298 9800
- Website
- loansbyworld.com
- IPO Date
- 11/26/1991
- ISIN
- US9814191048
- Stock Split
- 3:1 on 09/01/1995
Management
| Name | Title | Birth Year |
|---|---|---|
| J. Tobin Turner | Executive VP, COO & Principal Executive Officer | 1975 |
| John L. Calmes Jr. | Executive VP, Chief Financial & Strategy Officer and Treasurer | 1980 |
| Luke J. Umstetter | Senior VP, General Counsel, Chief Compliance Officer & Secretary | 1980 |
| Scott McIntyre | Senior Vice President of Accounting | 1977 |
| Victoria G. Hammond | Senior Vice President of Marketing | – |
| Alice Lindsay Caulder | Senior Vice President of Human Resources | 1976 |
| Jeff L. Tinney | Senior Vice President of Operations | 1963 |
| Jackie C. Willyard | Senior Vice President of Operations | 1963 |
| Jason E. Childers | Senior Vice President of Information Technology Strategic Solutions | 1975 |
| Rodney D. Ernest | Senior Vice President of Operations | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 08/19/2026 WORLD ACCEPTANCE CORP (WRLD): Submission of Matters to a Vote of Security Holders SEC ↗
- 08/13/2026 WORLD ACCEPTANCE CORP (WRLD): Other Events SEC ↗
- 07/24/2026 WORLD ACCEPTANCE CORP (WRLD): Results of Operations and Financial Condition; Regulation FD Disclosure; Financial Statements and Exhibits SEC ↗
Data as of: September 17, 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.