FirstCash Holdings, Inc.FCFS
NasdaqGS•Financial Services•Credit Services
FirstCash Holdings, Inc., together with its subsidiaries, operates retail pawn stores in the United States, Mexico, rest of Latin America, and the United Kingdom. The company operates through four segments: U.S. Pawn, Latin America Pawn, U.K. Pawn, and Retail POS Payment Solutions segments. Its pawn stores lend money on the collateral of pledged personal property, including jewelry, electronics, tools, appliances, sporting goods, and musical instruments; and retails merchandise acquired through collateral forfeitures and over-the-counter purchases from customers. The company also provides retail POS payment solutions, which focuses on LTO products and facilitating other retail financing payment options across the network of traditional and e-commerce merchant partners. It serves cash and credit-constrained consumers. The company was formerly known as FirstCash, Inc and changed its name to FirstCash Holdings, Inc. in December 2021. FirstCash Holdings, Inc. was incorporated in 1988 and is headquartered in Fort Worth, Texas.
FirstCash Holdings, Inc. (FCFS) reported trailing twelve months revenue of $3.88B as of March 2026, a 14.4% increase year-over-year. Quarterly revenue reached $1.05B, reflecting continued top-line momentum.
FirstCash Holdings, Inc. generated $354.49M in TTM net income, with quarterly EBITDA of $176.64M. The operating margin expanded from 13.3% to 13.8%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (13.8%) and net margin (10.2%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 10.0% a year ago, signaling stronger bottom-line efficiency.
FCFS trades at a P/E of 28.0x (in line with broad market averages) and a P/S of 2.6x. The price-to-book ratio of 4.3x reflects a moderate premium to book value.
The company generated $123.08M in free cash flow over the trailing twelve months, a 2.8% increase year-over-year, indicating cash generation ability. The balance sheet shows $5.36B in total assets with $2.25B in long-term debt against $2.30B in stockholders equity for a debt-to-equity ratio of 1.0. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~11.6%, suggesting durable pricing power and cost discipline.
ROE is positive at ~13.5% on average, adequate but below the threshold typically associated with wide moats.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (6 of 7 quarters up), with ~17.3% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~12.3% — no sign of cost or pricing stress.
FCF covers net income by 1.6x on average — earnings are well-supported by cash generation.
D/E ratio is 1.0 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 2.3% — net buybacks are reducing shares outstanding and boosting per-share value.