At a glance
EZCORP Inc is worth $1.82B, about 21 times its fiscal 2025 earnings. Revenue grew 9.7% to $1.27B in fiscal 2025, with 8.6% kept as profit; over 5 years it has grown 9.1% a year. It pays no dividend; it spent $38.0M buying back its shares over FY2021–FY2025. The stock returned +66.5% over the past year with dividends reinvested and +32.3% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 29.1% in the 2020 crash (S&P 500: 33.7%) and 24.4% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 1 month and 2 months after the lows.
The business in plain English
EZCORP runs pawn shops in the U.S. and Latin America, serving people who need short-term cash and shoppers seeking low-priced pre-owned goods. A pawn loan is a small cash advance secured by an item left at the store, usually jewelry, electronics or tools. The customer repays the cash plus a fee to reclaim the item. Otherwise the item becomes inventory, put up for sale or scrapped (melted down) for its gold. By store count, the Austin, Texas-based company is the second-largest pawn operator in the U.S.
In fiscal 2025, which ended September 30, 2025, revenue was $1.27 billion. Retail sales of pre-owned goods made up 55%, pawn fees 37% and jewelry scrap about 8%. The fees drive profit: they produced 64% of gross profit. U.S. fees generally run 12% to 25% per month on loans averaging $200 to $220.
At September 30, 2025, 545 of its 1,360 stores were in the U.S., mostly under the EZPAWN and Value Pawn & Jewelry names. This U.S. Pawn segment produced about 72% of revenue. Latin America Pawn supplied the other 28%: 622 stores in Mexico (21% of revenue) and 193 in Guatemala, El Salvador and Honduras (about 7%). EZCORP also owns 43.7% of Perth, Australia-based Cash Converters International and a preferred stake in a group that runs 103 pawn stores.
Price history
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EZPW +66.5% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Merchandise sales | $701.0M | 55% |
| Pawn service charges | $474.2M | 37.2% |
| Jewelry scrap sales | $98.9M | 7.8% |
| Other revenues | $169K | 0% |
By business segment
| U.S. Pawn | $912.5M | 71.6% |
| Latin America Pawn | $361.8M | 28.4% |
By geography
| United States | $912.5M | 71.6% |
| MEXICO | $267.3M | 21% |
| Latin America | $94.5M | 7.4% |
Latest results
- In Q3 FY2026 (ended Jun 30, 2026), revenue was $418.7M, up 34.7% from a year earlier, and net income was $38.2M (+44.1%).
- For fiscal 2025, revenue was $1.27B (+9.7% year over year; +9.1% a year from FY2020 to FY2025) with a 8.6% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +9.1% good |
|---|---|
| Operating margin | 11.7% watch |
| Free cash flow margin | 8.7% watch |
| Return on equity (FY2025) | 10.7% watch |
| Return on assets (FY2025) | 5.6% watch |
| Net cash (cash minus debt) | $-208.5M watch |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $822.8M | $-68.5M | $20.6M |
| FY2021 | $729.6M | $8.6M | $22.8M |
| FY2022 | $886.2M | $50.2M | $34.6M |
| FY2023 | $1.05B | $38.5M | $61.4M |
| FY2024 | $1.16B | $83.1M | $77.8M |
| FY2025 | $1.27B | $109.6M | $110.4M |
Valuation snapshot
| Market value | $1.82B |
|---|---|
| P/E ratio | 20.9 |
| Dividend yield | 0% |
Rank among 1514 US companies
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| EZPW price data to Oct 28, 2026 | +52.9% | +66.5% | +54.7% | +32.3% | +11.5% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +52.9% |
| 2025 | +58.9% |
| 2024 | +39.8% |
| 2023 | +7.2% |
| 2022 | +10.6% |
| 2021 | +53.9% |
| 2020 | -29.8% |
| 2019 | -11.8% |
| 2018 | -36.6% |
| 2017 | +14.6% |
| 2016 | +113.4% |
| 2015 | -57.5% |
| 2014 | +0.5% |
| 2013 | -41.2% |
| 2012 | -24.6% |
| 2011 | -2.8% |
| 2010 | +57.7% |
| 2009 | +13.1% |
| 2008 | +34.7% |
| 2007 | -30.5% |
| 2006 | +219.0% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 35.1% over that stretch · deepest drop along the way 49%, back to its old high 11.4 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 23% over that stretch · deepest drop along the way 29.1%, back to its old high 1.2 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Gained 11.4% over that stretch · deepest drop along the way 24.4%, back to its old high 1.9 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 11 sales ($5.5M), 3 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Aug 24, 2026 | Ellen H Bryant Chief Legal Officer | sell (plan) | $1.0M |
| May 12, 2026 | Jason A. Kulas Director | sell | $671K |
| Feb 17, 2026 | Nicole Swies Chief Revenue Officer | sell | $597K |
| Feb 19, 2026 | Pablo Lagos Espinosa Director | sell | $500K |
| Feb 17, 2026 | Ellen H Bryant Chief Legal Officer | sell | $500K |
Who owns it
Large shareholders (13G filings)
| FMR LLC | 14.4% | Jun 30, 2026 |
| Vanguard Capital Management | 5.02% | Jun 30, 2026 |
| Lazard Asset Management LLC | 1.07% | Sep 30, 2024 |
ETFs with the most weight in EZPW
| SIXS ETC 6 Meridian Small Cap Equity ETF | 2.7% |
| XSVM Invesco S&P SmallCap Value with Momentum ETF | 1.95% |
| FDM First Trust Dow Jones Select MicroCap Index Fund | 1.72% |
| RZV Invesco S&P SmallCap 600® Pure Value ETF | 1.57% |
| MMSC First Trust Multi-Manager Small Cap Opportunities ETF | 1.06% |
| SIXL ETC 6 Meridian Low Beta Equity ETF | 0.49% |
| BSVO EA Bridgeway Omni Small-Cap Value ETF | 0.45% |
| BFOR ALPS Barron's 400 ETF | 0.29% |
What could go wrong
- Laws and critics target pawn fees. Pawn fees, often 12% to 25% per month in the U.S., draw criticism from consumer advocates and media. Tougher laws could force store closures, and breaking rules could bring fines or suspended operations.
- Heavy reliance on Texas and Florida. As of September 30, 2025, 45% of U.S. stores were in Texas and 17% in Florida. A harmful law change in either state, or a major hurricane, could hit results hard.
- Falling gold prices hurt several ways. Gold jewelry is a large share of pawn collateral and inventory. A sharp drop in gold values could shrink loan balances, fees, sales and margins at the same time.
- Public shareholders have no vote. One person owns all of EZCORP's voting stock and generally controls shareholder votes. The publicly traded Class A shares carry no voting rights, which the company says may affect their value.
- Latin America and currency exposure. About 28% of revenue came from Mexico and Central America in fiscal 2025. Political, regulatory or social changes there, or a weaker peso and other local currencies, could cut reported earnings.
- Debt load and possible share dilution. As of June 30, 2026, debt was about $519 million against $311 million of cash and investments. Convertible notes, debt that can turn into shares, could dilute existing holders and weigh on the price.
Recent events
- Quarterly results released; Investor presentation or announcement
- Other company announcement
- Quarterly results released; Investor presentation or announcement
- Shareholder vote results; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
For income and retirement investors
EZCORP paid no dividends from fiscal 2021 through fiscal 2025, and its dividend yield was 0% as of October 28, 2026. For income investors, that means returns come only from price changes, and spending money must come from cashing in shares. The company did repurchase $38 million of its stock over those five years, including $7 million in fiscal 2025. That is modest next to that year's $110 million of free cash flow (cash left after running and investing in the business).
The shares swing widely. They fell 49% in the 2008 financial crisis and took about 11 months after the March 2009 low to recover. They dropped 29% in the 2020 COVID crash but recovered by late April 2020. In the 2022 bear market they fell 24% early on, yet gained 11.4% over the market's full decline. The deepest drop in about 21 years of price history was 93.5%. Single stocks carry more risk than diversified funds.
Questions investors ask
How does EZCORP make money?
EZCORP makes money mainly from pawn loans and from the goods it keeps when loans go unpaid. In fiscal 2025, which ended September 30, 2025, retail sales of pre-owned merchandise made up 55% of its $1.27 billion revenue. Pawn service charges, the fees on loans, made up 37%, and jewelry scrap about 8%. The fees are the most profitable part, producing 64% of gross profit. In the U.S. they generally run 12% to 25% per month.
Does EZCORP pay a dividend?
No. EZCORP paid no dividends from fiscal 2021 through fiscal 2025, and its dividend yield was 0% as of October 28, 2026. Instead it returned some cash through share repurchases, about $38 million over those five years. Investors who rely on regular income from their holdings would get none here. Any return depends entirely on the share price.
Do EZPW shares have voting rights?
No. The publicly traded Class A shares are non-voting. According to the company's annual report, one person owns all of EZCORP's voting stock and generally controls the outcome of every matter that requires a shareholder vote. The company lists this as a risk that may affect the value of the public shares. Large outside holders included FMR LLC (14.4%) and Vanguard Capital Management (5.02%) as of June 30, 2026.
How do gold prices affect EZCORP?
A great deal. Gold jewelry makes up a large portion of the items customers pawn and of EZCORP's inventory. The company also scraps jewelry for its gold, which brought in about 8% of revenue in fiscal 2025. Pawn fees, sales proceeds and the margin on excess jewelry all depend on gold values. The company warns that a sharp drop in gold values or volumes could reduce sales, margins, loan balances and pawn fees.
How has EZPW stock performed?
Strongly over the five years to October 28, 2026, but with big swings. As of that date, the share price was up 66.5% over one year, about 32% a year over five years and about 11.5% a year over ten years. The stock has had painful stretches, including a 57.5% drop in calendar 2015 and a 93.5% peak-to-trough decline at its worst. The shares traded at about 20.9 times fiscal 2025 earnings.