FirstCash (FCFS) Investor presentation summary

Financial performance highlights

• Revenue for the trailing twelve months as of December 31, 2025, reached $3.7 billion, with GAAP net income of $330 million and adjusted net income of $390 million.

• Adjusted EBITDA was $698 million and adjusted free cash flow was $307 million for the same period.

• Q4 2025 saw GAAP net income up 25%, GAAP EPS up 26%, adjusted EPS up 25%, and adjusted EBITDA up 27% year-over-year.

• Dividends increased to $1.68 per share annualized, and $115 million of shares were repurchased in 2025, with $150 million remaining authorized.

• Over $4.2 billion invested in growth and shareholder payouts since 2016, including $1.11 billion in share repurchases and $492 million in dividends.

Pawn segment overview and growth

• Operates over 3,300 pawn locations with approximately 22,000 employees across the U.S., Latin America, and the U.K.

• Pawn segment contributed about 90% of total earnings in 2026, with a focus on serving unbanked and under-banked customers.

• U.S. pawn segment has over 1,200 locations in 29 states and D.C.; 23 locations acquired and 2 new stores opened in 2025.

• Latin America segment includes more than 1,800 locations, with 32 stores added in 2025, primarily in Mexico.

• U.K. entry achieved through the acquisition of H&T Group, adding 286 locations and establishing market leadership.

Business model and operational strengths

• Pawn loans are non-recourse, fully collateralized, and typically have low credit risk, with average loan sizes of $100–$300 in the U.S. and Latin America.

• Proprietary data ecosystem and real-time inventory intelligence optimize retail margins and lending decisions across 14 million annual transactions.

• Pawn operations have demonstrated resilience across economic cycles, with increased demand during financial crises and credit tightening.

• The business model features dual revenue streams from lending and retail sales, driving strong margins and consistent cash flow.