FirstCash (FCFS) financial statements
FirstCash reported revenue of $1.7B in fiscal 2025, up 10.7% a year over 9 years.
Net income was $330M and the operating margin 44.0%, against 51.1% in 2016.
Free cash flow was $531M, and the company returned $71M in dividends and $116M in net buybacks.
The diluted share count rose 27% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from FirstCash's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $669M | $1.1B | $1.1B | $1.2B | $1.1B | $1.1B | $1.3B | $1.4B | $1.5B | $1.7B |
| Cost of revenue | $484M | $832M | $814M | $846M | $720M | $780M | $1.5B | $1.6B | $1.8B | $1.8B |
| Gross profit | $605M | $948M | $967M | $1.0B | $911M | $919M | $1.3B | $1.5B | $1.6B | $1.8B |
| Selling, general and admin | $97M | $122M | $120M | $122M | $111M | $111M | $148M | $182M | $178M | $233M |
| Operating income | $342M | $499M | $528M | $580M | $513M | $569M | $532M | $549M | $606M | $735M |
| Interest expense | $20M | $24M | $29M | $34M | $29M | $32M | $71M | $93M | — | — |
| Pre-tax income | $93M | $172M | $205M | $225M | $144M | $167M | $324M | $293M | $343M | $448M |
| Income tax | $33M | $28M | $52M | $60M | $37M | $42M | $70M | $74M | $84M | $117M |
| Net income | $60M | $144M | $153M | $165M | $107M | $125M | $253M | $219M | $259M | $330M |
| EPS (diluted) | $1.72 | $3.00 | $3.41 | $3.81 | $2.56 | $3.04 | $5.36 | $4.80 | $5.73 | $7.42 |
| Diluted shares | 35M | 48M | 45M | 43M | 42M | 41M | 47M | 46M | 45M | 45M |
| Gross margin | 90.4% | 90.1% | 88.6% | 86.6% | 84.7% | 81.0% | 100.3% | 109.1% | 108.1% | 110.3% |
| Operating margin | 51.1% | 47.5% | 48.4% | 49.3% | 47.7% | 50.2% | 42.2% | 39.8% | 40.2% | 44.0% |
| Net margin | 9.0% | 13.7% | 14.0% | 14.0% | 9.9% | 11.0% | 20.1% | 15.9% | 17.2% | 19.8% |
Balance sheet
Fiscal years, from FirstCash's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $90M | $114M | $72M | $47M | $66M | $120M | $117M | $127M | $175M | $125M |
| Inventory | $331M | $277M | $275M | $265M | $190M | $263M | $288M | $312M | $335M | $487M |
| Total current assets | $892M | $842M | $790M | $741M | $625M | $1.1B | $1.1B | $1.3B | $1.4B | $1.9B |
| Property, plant and equipment | $236M | $230M | $252M | $336M | $374M | $463M | $539M | $633M | $718M | $808M |
| Goodwill | $831M | $831M | $917M | $949M | $977M | $1.5B | $1.6B | $1.7B | $1.8B | $2.0B |
| Total assets | $2.1B | $2.1B | $2.1B | $2.4B | $2.4B | $3.8B | $3.9B | $4.3B | $4.5B | $5.3B |
| Total current liabilities | $144M | $121M | $133M | $203M | $206M | $392M | $296M | $336M | $339M | $408M |
| Long-term debt | — | $402M | $591M | $632M | $616M | $1.3B | $1.4B | $1.6B | $1.7B | $2.2B |
| Total liabilities | $695M | $587M | $790M | $1.1B | $1.1B | $2.0B | $2.0B | $2.3B | $2.4B | $3.0B |
| Shareholders' equity | $1.4B | $1.5B | $1.3B | $1.4B | $1.3B | $1.8B | $1.9B | $2.0B | $2.1B | $2.3B |
| Net debt | -$90M | $288M | $519M | $585M | $550M | $1.2B | $1.3B | $1.5B | $1.6B | $2.1B |
Cash flow
Fiscal years, from FirstCash's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $97M | $220M | $243M | $232M | $222M | $223M | $469M | $416M | $540M | $586M |
| Capital spending | $20M | $26M | $36M | $44M | $38M | $42M | $36M | $60M | $68M | $55M |
| Free cash flow | $76M | $194M | $208M | $187M | $185M | $181M | $434M | $356M | $472M | $531M |
| Stock-based compensation | $4M | $3M | $6M | $9M | $3M | $5M | $11M | $14M | $15M | $20M |
| Dividends paid | $20M | $37M | $41M | $44M | $45M | $48M | $60M | $62M | $66M | $71M |
| Share buybacks (net) | $0 | -$92M | -$274M | -$116M | -$107M | -$50M | -$158M | -$114M | -$85M | -$116M |
| Free cash flow margin | 11.4% | 18.5% | 19.0% | 15.9% | 17.2% | 16.0% | 34.4% | 25.8% | 31.3% | 31.8% |
| Dividends per share | $0.57 | $0.77 | $0.91 | $1.02 | $1.08 | $1.16 | $1.26 | $1.35 | $1.46 | $1.59 |
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Open FCFS in InvestinglyQuestions
What was FirstCash's revenue in 2025?
$1.7B in fiscal 2025, from its 10-K filing.
How much free cash flow does FirstCash generate?
$531M in fiscal 2025 (operating cash flow minus capital spending).
From FirstCash's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.