FCFS FirstCash Holdings, Inc.

Overview and Growth

Fiscal 2025 results for FirstCash Holdings, Inc. combined $3.66B of revenue with net income of $330.38M and an operating cash inflow of $585.94M. At $3.66B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line expanded 8.0% from $3.39B in fiscal 2024, increasing the company’s operating scale. The company reported diluted EPS of $7.42, adding a shareholder-level measure to the absolute income figures considered below. Diluted EPS increased by 29.5% from $5.73 in fiscal 2024, showing how the earnings change reached shareholders on a per-share basis. Revenue equaled 0.69x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

The first profit layer was $1.84B of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross margin was 50.3%, so that share of each revenue unit remained after the cost of revenue reported for the period. The bottom-line result was net income of $330.38M, after the operating, financing, tax, and other items recognized for the period. Net margin was 9.0%, meaning that this portion of revenue remained as net income after all recognized expenses. Before income taxes, the company reported $447.56M of earnings, providing a bridge between the operating result and final net income. The pretax margin was 12.2%, relating income before taxes directly to revenue. Income tax expense totaled $117.19M, providing the reported tax component that separates pretax and after-tax earnings. The effective relationship between income tax and positive pretax income was 26.2%, without assuming a statutory-rate comparison. The relationship between net income and period-end equity was 14.5%, indicating the profitability achieved on book capital. The net-income-to-assets relationship measured 6.2%, showing earnings relative to the full balance sheet.

Liquidity and Capital Structure

Total assets were $5.30B, supported by $3.02B of liabilities and $2.28B of shareholder equity. At period end, current assets of $1.86B compared with current liabilities of $407.81M, defining the company’s short-term resource position. Current assets covered current liabilities by 4.55x, leaving a positive buffer for near-term obligations. Cash and equivalents totaled $125.20M, identifying the most liquid reported component available within the broader current-asset balance. Measured only with cash and equivalents, coverage of current liabilities was 30.7%, excluding receivables and other current assets. Borrowings totaled $2.21B, adding a fixed financing obligation alongside the company’s equity capital. Against book equity, debt measured 0.97x, placing the company’s financial leverage in clear balance-sheet terms. The debt-to-assets relationship was 41.7%, comparing borrowing with the total asset balance. The liabilities-to-assets relationship was 57.0%, placing reported obligations against the full positive asset balance. Measured against total assets, cash and equivalents represented 2.4%, a balance-sheet composition measure rather than a liquidity forecast. Compared with $4.48B in fiscal 2024, the current asset base moved 18.4% and finished higher.

Cash Flow and Earnings Quality

Cash flow from operations was $585.94M, a reported cash inflow that can be compared directly with net income and capital spending. The operating-cash-flow-to-net-income relationship was 1.77x, comparing cash generated by operations with the bottom-line earnings result. The cash-flow statement records $54.91M of capital expenditures, the investment amount considered after operating cash generation. Capital spending absorbed 9.4% of operating cash flow, quantifying the share of cash from operations directed to investment. The combination of operating cash flow and capital spending produced $531.04M of positive free cash flow for the period. The free-cash-flow margin was 14.5%, measuring cash remaining after capital spending against revenue. The free-cash-flow-to-assets relationship was 10.0%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.