EZCORP INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data EZCORP INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	731	748	814	847	823	730	886	1,049	1,162	1,274
Cost of revenue	258	267
Gross profit	428	436	482	494	449	449	528	610	682	746
General and administrative	68.1	53.5	53.6	63.7	54.1	56.5	64.3	67.5	75.6	83.5
Operating expenses	399	382	414	447	498	418	453	518	570	597
Operating income	29.2	53	67.1	47	-48.4	31.2	74.9	92.2	113	149
Interest expense	16.5	27.8	27.8	32.6	22.5	22.2	9.97	16.5	13.6	23
Interest income	0.08	12.1	17	11.1	3.17	2.48	0.82	7.47	10.6	14.7
Other non-operating income	-1.2	0.42	5.39	-1.42	0.02	0.79	0.17	-3.07	1.38	-0.24
Pre-tax income	0.36	42.7	55.5	4.17	-70.1	16.1	67.7	51.6	116	147
Income tax	9.36	11.1	18.4	2.41	-1.63	7.45	17.6	13.2	32.5	37.2
Income from continuing operations	-7.97	33.2	38.1	3	-68.5
Net income to minority interests	-7.69	-1.65	-0.99	-1.23	0	0
Net income	-80.7	31.4	37.3	2.54	-68.5	8.61	50.2	38.5	83.1	110
EBITDA	57.8	76.7	92.6	75.8	-17.6	61.8	107	124	146	182
EPS, basic	-1.86	0.73	0.85	0.05	-1.24	0.15	0.89	0.69	1.51	1.91
EPS, diluted	-1.86	0.73	0.80	0.05	-1.24	0.15	0.70	0.53	1.10	1.42
Shares, basic (weighted)	43.5	43.4	43.6	55.3	55.3	55.7	56.5	55.6	54.9	57.5
Shares, diluted (weighted)	43.5	43.5	46.3	56	55.3	55.9	82.4	80.9	84.4	83.4

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	65.7	164	285	158	305	254	206	221	171	470
Receivables		19.5	18.9	10.9	6.99	9.32	8.44	30.5
Inventory	140	154	167	179	95.9	111	152	166	192	248
Other current assets	35.8	28.8	33.5	25.9	32.9	31	34.7	39.6	39.2	51.2
Total current assets	482	581	749	606	593	611	644	720	729	1,126
Property, plant and equipment	58.5	58	73.6	67.4	57	53.8	56.7	68.1	66	75.3
Lease right-of-use assets				184	184	201	221	234	227	236
Goodwill	254	255	299	301	258	286	287	302	306	325
Intangible assets	30.7	32.4	54.9	68	58.6	62.1	56.8	58.2	58.5	58.8
Other non-current assets	44.4	9.72	3.86	4.38	4.22	4.74	6.63	12	16.1	15.6
Total assets	983	1,024	1,242	1,084	1,197	1,267	1,348	1,468	1,493	1,951
Accounts payable	84.3	61.5	58	78	71.5	22.5	24.1	23	20.9	22.9
Deferred revenue	2.85	11	11.8	12.9	11	12.6	16	18.9	21.6	33.9
Short-term debt		0	190	0.21	0.21	0	0	34.3	103	0
Total current liabilities	95	72.6	260	91.1	132	155	153	192	269	201
Long-term debt	284	285	227	238	251	264	313	326	224	518
Lease liabilities				153	153	161	181	193	181	185
Other non-current liabilities	10.5	7.06	6.89	7.3	10.8	10.4	8.75	10.5	12.3	19.8
Total liabilities	389	364	502	339	548	595	656	722	689	926
Total debt	284	285	417	239	251	311	313	360	327	518
Paid-in capital	319	349	398	408	398	341	345	346	348	451
Retained earnings	320	352	387	389	318	353	402	431	507	613
Other comprehensive income	-44.1	-38.4	-42.4	-52.4	-68.1	-58.4	-55.7	-32.1	-51.5	-38.7
Shareholders' equity	595	662	743	745			692	746		1,025
Minority interests	-0.78	-2.45	-3.33	0						0
Total equity	591	656	739	745	649	672	692	746	805	1,025
Total liabilities and equity	983	1,024	1,242	1,084	1,197	1,267	1,348	1,468	1,493	1,951

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-88.4	29.8	36.3	1.31	-68.5	8.61	50.2	38.5	83.1	110
Depreciation and amortization	28.7	23.7	25.5	28.8	30.8	30.7	32.1	32.1	33.1	32.5
Stock-based compensation	5.35	5.87	10.8	9.75	-5.09	3.95	5.05	9.54	10.4	12.5
Deferred income tax	-4.95	3.82	9.13	1.27	-5.55	3.28	4.95	-12.8	1.35	-3.08
Cash from operations	68.1	50.7	89	104	49.1	46.4	66.5	102	114	149
Capital expenditures	-13.3	-25	-40.5	-38.8	-28.5	-23.6	-31.9	-40.4	-35.8	-38.6
Acquisitions	-6	-2.25	-93.2	-8.12	0	-19	-1.85	-14.9	-12.1	-20.7
Cash from investing	3.02	-13.4	-134	-27.8	110	-84.6	-113	-111	-112	-118
Debt issued			171	1.06	0.91
Debt repaid			-3.51	-196	-0.2	-15.4	0	-178	-34.4	-6.41
Share buybacks	-11.8	0	0	0	-5.16	0	-2.04	-17	-12	-7
Cash from financing	-63.2	53.4	168	-198	-6.25	-16.3	-2.83	23.7	-50.2	274
Exchange rate effect	-1.35	0.72	-0.65	-0.51	-2.61	5.5	0.33	-0.04	-0.73	-0.64
Net change in cash	6.61	91.3	122	-123	150	-48.9	-49.3	14.6	-49.2	305
Free cash flow	54.9	25.7	48.5	64.7	20.6	22.8	34.6	61.4	77.8	110
Interest paid	18.7	9.07	8.41	12.9	8.49	8.23	8.23	11.1	12.1	11.1
Income taxes paid	2.96	8.87	13.7	11.1	9.75	3.7	15.9	11.4	25.7	39.5

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $31.16 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	58.6%	Gross profit / revenue.
Operating margin	13.9%	Operating income / revenue.
EBITDA margin	16.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	13.4%	Pre-tax income / revenue.
Net margin	10.0%	Net income / revenue.
FCF margin	8.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	11.5%	Cash from operations / revenue.
Effective tax rate	25.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	13.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	7.3%	Net income / average total assets.
Return on invested capital (ROIC)	12.0%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	1.0%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.7%	Capital expenditures / revenue.
D&A / revenue	2.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	9.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	12.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	9.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	9.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	12.2%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	10.7%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	32.6%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	25.8%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	24.8%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	19.3%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	31.9%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	29.8%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	29.1%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	26.6%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	31.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	30.8%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	24.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	41.9%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	47.2%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	40.0%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value CAGR, 3y	14.0%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y	30.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	13.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	10.3%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-1.3%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	8.6%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	4.81x	Current assets / current liabilities.
Quick ratio	1.34x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.34x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.45x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	24.0%	Total debt / total assets.
Liabilities / assets	46.1%	Total liabilities / total assets.
Net debt	$208.5M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.81x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	6.67x	Operating income / interest expense.
Working capital	$884.4M	Current assets - current liabilities.
Goodwill and intangibles / assets	27.7%	(Goodwill + intangible assets) / total assets.
Tangible book value	$564.5M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.73x	Revenue / average total assets.
Fixed asset turnover	17.8x	Revenue / average property, plant and equipment.
FCF conversion	87.4%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	23.8%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.90	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$19.01	Revenue / diluted weighted shares.
FCF per share	$1.66	Free cash flow / diluted weighted shares.
Operating cash flow per share	$2.18	Cash from operations / diluted weighted shares.
Book value per share	$13.97	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$6.77	Tangible book value / shares outstanding.
Cash per share	$3.73	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	6.5%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.91B	Share price x shares outstanding.
Enterprise value	$2.12B	Market cap + total debt - cash - short-term investments.
P/E	12.1x	Market cap / net income. Only when net income is positive.
P/S	1.21x	Market cap / revenue.
P/B	1.64x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	3.39x	Market cap / tangible book value, when positive.
P/FCF	13.8x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	10.5x	Market cap / cash from operations, when positive.
EV/Sales	1.34x	Enterprise value / revenue.
EV/EBIT	9.64x	Enterprise value / operating income, when both are positive.
EV/EBITDA	8.28x	Enterprise value / EBITDA, when both are positive.
EV/FCF	15.3x	Enterprise value / free cash flow, when both are positive.
FCF yield	7.2%	Free cash flow / market cap.
Earnings yield	8.3%	Net income / market cap (the inverse of P/E).
Shareholder yield	0.5%	(Dividends paid + share buybacks) / market cap.
PEG	0.45x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was EZCORP INC's revenue in fiscal 2025?

EZCORP INC reported revenue of $1.27B for fiscal 2025, 9.7% higher than the year before.

Was EZCORP INC profitable in fiscal 2025?

Yes. Net income was $109.6M, a net margin of 8.6%.

How much free cash flow did EZCORP INC generate in fiscal 2025?

Cash from operations of $149.0M minus capital expenditures of $38.6M left free cash flow of $110.4M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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