FirstCash Inc

FirstCash Holdings runs pawn stores, with over 3,300 locations as of December 31, 2025. A pawnshop buys and sells used goods. It also makes small, short-term loans backed by items such as jewelry, electronics and tools. The loans are non-recourse: a customer who doesn't repay simply loses the item. FirstCash makes no attempt to collect, and the customer's credit score is not affected. Customers are typically value-conscious people that banks, credit unions and credit card companies don't serve well.

Pawn loan fees generally run 4% to 25% a month, as local law allows. They made up 46% of net revenue in 2025. Profit from selling merchandise added another 39%. Most of that merchandise is items customers didn't reclaim or goods bought from them over the counter. The average pawn loan at December 31, 2025, was $312 in the U.S., $112 in Latin America and $825 in the U.K.

The stores form three segments. The U.S. segment covers 29 states and Washington, D.C. Latin America covers Mexico, Guatemala, El Salvador and Colombia. The U.K. segment came from buying H&T and its 286 stores in August 2025. The fourth segment, American First Finance, offers lease-to-own plans (shoppers rent an item and own it once it's paid off) and other financing through U.S. retailers and online merchants. Of $3.66 billion in 2025 revenue, the U.S. produced 71.6%, Mexico 22.8%, the U.K. 4.1% and other Latin American countries 1.5%.

• In Q3 FY2026 (ended Sep 30, 2026), revenue was $1.10B, up 17.7% from a year earlier, and net income was $101.2M (+22.2%).
• For fiscal 2025, revenue was $3.66B (+8.0% year over year; +17.5% a year from FY2020 to FY2025) with a 9% net margin.

• Over FY2021–FY2025: $522.7M in buybacks and $305.6M in dividends.
• At least 9 consecutive annual increases: every fiscal year in the SEC data (FY2016–FY2025) shows an increase; the true streak may be longer.
• Regular dividends per share grew +8.2% a year over 5 years (FY2020–FY2025).
• Dividends took 21.5% of earnings and 13.3% of free cash flow in the latest fiscal year.
• Shares outstanding changed -11.5% from Feb 14, 2022 to Oct 21, 2026.

Rank among 1514 US companies

Market value at each year end

FirstCash’s market value went from $2.28B at the end of 2016 to $8.15B on Oct 28, 2026, about 3.6 times as much; since the end of 2025 it is up 16%.

Form 4 filings from 2025-11-03 to 2026-11-03 (25 read): 0 open-market purchases and 23 sales ($14.1M), 19 of them under pre-arranged 10b5-1 trading plans.

Large shareholders (13G filings)

ETFs with the most weight in FCFS

1. Tighter rules on high-cost consumer lending. Pawn fees can reach 25% a month. Regulators, politicians and the media sometimes call such products predatory. New laws, tougher enforcement or limits on firearm sales could squeeze profits.
2. AFF relies on merchants, borrowers and a bank. Unlike pawn lending, AFF must collect payments on its leases and loans. Its volume depends on sales at partner retailers. Regulators could also challenge its use of an outside bank to make some loans.
3. Falling gold prices could hurt profits. Gold jewelry is major collateral, especially in the U.K. stores. The company also melts scrap jewelry and sells the gold, silver and diamonds. Lower prices for these could reduce profits.
4. Currency swings in Mexico and the U.K. Mexico produced 22.8% of 2025 revenue and the U.K. 4.1%. A weaker peso or pound turns local earnings into fewer dollars. Tariffs or tax changes add further uncertainty.
5. Acquisitions may not pay off. Buying stores is central to growth: FirstCash acquired 309 in 2025, including H&T's 286 U.K. stores. Deals that disappoint could force a write-down of goodwill, the premium paid above an acquired business's assets.
6. A sizable debt load. As of September 30, 2026, total debt was about $2.45 billion, against $203 million of cash and investments. Debt limits flexibility. Unfavorable interest-rate moves or a seasonal cash squeeze could strain finances.

• Nov 2, 2026 Investor presentation or announcement
• Oct 28, 2026 Other company announcement
• Oct 22, 2026 Quarterly results released
• Aug 31, 2026 Major agreement signed; New debt or financial obligation; Investor presentation or announcement
• Aug 6, 2026 Investor presentation or announcement
• Jul 23, 2026 Quarterly results released; Other company announcement
• Jul 22, 2026 Executive or board change
• Jul 16, 2026 Other company announcement
• Jun 23, 2026 Investor presentation or announcement; Other company announcement
• Jun 18, 2026 Change to shareholder rights; Bylaws or fiscal year changed

FirstCash pays a small but growing dividend. It has raised the dividend for at least nine straight years through fiscal 2025. Dividends per share grew from $1.08 in 2020 to $1.60 in 2025, about 8.2% a year. The 2025 payout used just 21.5% of earnings and 13.3% of free cash flow (cash left after business investment). Still, the yield was only 0.88% as of October 28, 2026, so the stock offers limited income. The company spent more on buybacks than on dividends: $523 million versus $306 million over fiscal 2021–2025. Its share count fell 11.5% from February 2022 to October 2026.

Downturns hit the stock hard. It lost 70% in the 2008 financial crisis and took about 30 months to recover. In the 2020 COVID crash it fell 25.8% and took nearly 15 months to recover. The 2022 bear market was milder: a 21.5% drop that reversed within two months. Single stocks like FirstCash carry more risk than diversified funds.