公司概述
EZCORP, Inc. operates primarily within the United States, Mexico, and Latin America, providing pawn services that involve retailing merchandise, which includes collateral forfeited from lending operations and pre-owned goods purchased externally. The company functions as a key player in the Financial Services sector, specifically within the Credit Services industry, where it facilitates short-term secured lending to individuals while monetizing the resulting inventory. With a market capitalization of $1.75B, an annual revenue of $1.34B, and an employee base of 8,500, EZCORP maintains a significant operational footprint that supports its diverse geographic reach. These valuation and revenue figures indicate that the company holds a substantial position in its niche, reflecting robust scale that allows for diversified income streams across multiple international markets.
财务健康
The company reported a trailing twelve-month revenue of $1.34B and generated net income of $122.90M, resulting in an EBITDA of $201.89M; the substantial gap between revenue and net income reveals a cost structure heavily influenced by operating expenses, including cost of goods sold, overhead, and administrative costs inherent to retail and lending operations. Free cash flow stands at $17.16M, which indicates that while the company generates significant operating earnings, capital expenditures or working capital requirements absorb a notable portion of cash, impacting immediate financial flexibility. Gross margin is reported at 58.6%, suggesting a high-margin business model typical of pawn shops where inventory value exceeds initial collateral, while an operating margin of 15.9% demonstrates effective control over operational expenditures, and a profit margin of 9.2% reflects the final profitability after all costs and taxes. Total cash holdings of $465.91M are compared against total debt of $766.89M, creating a debt-to-equity ratio of 71.62, which suggests the balance sheet is leveraged rather than conservative, relying on significant debt financing to support its asset base. A current ratio of 6.03 indicates strong short-term liquidity, as current assets are six times current liabilities, providing ample buffer to meet immediate obligations. Return on equity is 13.0% and return on assets is 6.1%, metrics that reveal management's effectiveness in generating shareholder value relative to equity invested and utilizing total assets to produce earnings.
估值评估
The trailing P/E ratio is 18.11, while the forward P/E is projected at 13.96, implying that the market expects earnings growth that would justify a lower valuation multiple in the coming year compared to historical performance. The price-to-book ratio stands at 1.64, indicating that the stock trades at a 64% premium over its book value, reflecting market confidence in the company's intangible assets and future earnings potential beyond its tangible net worth. Alternative valuation metrics such as a price-to-sales ratio of 1.31 and an EV/EBITDA of 10.18 suggest that investors are pricing the company based on revenue generation and earnings before interest, taxes, depreciation, and amortization, providing a comprehensive view of value independent of capital structure. The 52-week high is $28.87 and the 52-week low is $12.85, placing the current trading context within this range to gauge recent momentum and support levels relative to the year's volatility. A beta of 0.52 indicates that the stock price volatility is less than half that of the broader market, suggesting a defensive characteristic that may offer stability during periods of heightened equity market turbulence.
Growth & Income
Revenue growth year-over-year is 19.3%, while earnings growth year-over-year is 38.2%, demonstrating that earnings are expanding at a rate significantly faster than revenue, which often implies improving operational efficiency or favorable mix shifts within the business segments. The company does not pay a dividend, evidenced by a dividend yield of N/A and a payout ratio of 0.0%, meaning that all earnings are retained within the business to fund expansion, debt reduction, or other reinvestment strategies rather than being distributed to shareholders. This retention strategy aligns with the company's non-dividend payer profile, prioritizing internal capital generation to sustain its growth trajectory in the pawn services market. Overall, the growth profile is characterized by double-digit revenue expansion and accelerated earnings growth, supported by a capital allocation strategy focused on reinvestment rather than income distribution.