FirstCash
FCFS · NasdaqRetail-Miscellaneous Retail · Fiscal year ends Dec 31
FirstCash reported revenue of $1.7B in the fiscal year ended Dec 2025, up 10.7% from the year before. Net income was $330M. Operating cash flow of $586M less capital expenditure of $55M left free cash flow of $531M. Net debt was $2.1B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $1.1B | $1.3B | $1.4B | $1.5B | $1.7B |
| Cost of revenue | $780M | $1.5B | $1.6B | $1.8B | $1.8B |
| Gross profit | $919M | $1.3B | $1.5B | $1.6B | $1.8B |
| Interest expense | $32M | $71M | $93M | – | – |
| Pre-tax income | $167M | $324M | $293M | $343M | $448M |
| Income tax | $42M | $70M | $74M | $84M | $117M |
| Net income | $125M | $253M | $219M | $259M | $330M |
| Diluted EPS | 3.04 | 5.36 | 4.80 | 5.73 | 7.42 |
| Diluted shares | 41M | 47M | 46M | 45M | 45M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $120M | $117M | $127M | $175M | $125M |
| Inventory | $263M | $288M | $312M | $335M | $487M |
| Current assets | $1.1B | $1.1B | $1.3B | $1.4B | $1.9B |
| Net PP&E | $463M | $539M | $633M | $718M | $808M |
| Goodwill | $1.5B | $1.6B | $1.7B | $1.8B | $2B |
| Total assets | $3.8B | $3.9B | $4.3B | $4.5B | $5.3B |
| Payables | $23M | $27M | $27M | $31M | $27M |
| Deferred revenue | $57M | $63M | $71M | $73M | $84M |
| Current liabilities | $392M | $296M | $336M | $339M | $408M |
| Long-term debt | $1.3B | $1.4B | $1.6B | $1.7B | $2.2B |
| Total liabilities | $2B | $2B | $2.3B | $2.4B | $3B |
| Shareholders' equity | $1.8B | $1.9B | $2B | $2.1B | $2.3B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $223M | $469M | $416M | $540M | $586M |
| Capital expenditure | $42M | $36M | $60M | $68M | $55M |
| Free cash flow | $181M | $434M | $356M | $472M | $531M |
| Stock-based compensation | $5M | $11M | $14M | $15M | $20M |
| Acquisitions | $462M | $25M | $0 | $0 | – |
| Share buybacks | $50M | $158M | $114M | $85M | $116M |
| Dividends paid | $48M | $60M | $62M | $66M | $71M |
| Dividend per share | 1.17 | 1.26 | 1.36 | 1.46 | 1.60 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 11.2% | 9.5% | 9.1% | 10.7% |
| EPS growth (YoY) | – | 76.3% | −10.4% | 19.4% | 29.5% |
| Gross margin | 81.0% | 100.3% | 109.1% | 108.1% | 110.3% |
| Net margin | 11.0% | 20.1% | 15.9% | 17.2% | 19.8% |
| Return on equityBlank when equity is negative | 6.9% | 13.5% | 11.0% | 12.6% | 14.5% |
| Free cash flow margin | 16.0% | 34.4% | 25.8% | 31.3% | 31.8% |
| Cash conversion (CFO ÷ net income) | 1.79x | 1.85x | 1.90x | 2.09x | 1.77x |
| Inventory days | 123 | 72 | 69 | 69 | 98 |
| Payable days | 11 | 7 | 6 | 6 | 5 |
| Debt ÷ equity | 0.72x | 0.73x | 0.80x | 0.84x | 0.97x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $1.2B | $1.3B | $1.5B | $1.6B | $2.1B |
| Current ratio | 2.88x | 3.83x | 3.89x | 4.14x | 4.55x |
Recent filings
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.