Short answer
FirstCash Holdings, Inc. (FCFS) filed its fiscal 2025 10-K annual report with the SEC on Feb 9, 2026. It reported revenue of $1.7B (+10.7% year over year) and net income of $330M.
- Top risk flagged: Regulatory compliance risk related to cybersecurity oversight by Board's Audit Committee following NIST, ISO, COBIT, and ITIL standards
FY2025 key financial metrics · XBRL
- Revenue
- $1.7B
- +10.7% YoY
- Net income
- $330M
- +27.6% YoY
- Gross margin
- 110.3%
- +2.2 pp YoY
- EPS (diluted)
- $7.42
- +29.5% YoY
- ROE
- 14.5%
- +1.9 pp YoY
- Operating cash flow
- $586M
- +8.5% YoY
Source: XBRL data from the FirstCash Holdings, Inc. (FCFS) FY2025 10-K on SEC EDGAR. USD.
FirstCash Holdings, Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Pawn lending, retail merchandise sales, and finance receivables with rapid liquidation of gold jewelry inventory (62% of total inventory)
- New off-balance sheet (OBS) loan servicing program started Q3 2025, $28.1M loans originated, with $13.8M liability for credit risk
- Shift to increased acquisitions: $475.1M spent on pawn store acquisitions in 2025 vs. $76.0M in 2024
- Operating cash flow grew 9% to $585.9M, adjusted net income rose to $390.1M with adjusted EPS $8.76 in 2025
- Noteworthy: Cost of discretionary real estate purchases decreased ($61.9M vs $86.1M in 2024) despite overall increased investing activities
Management Discussion & Analysis
- $613.5 million outstanding on revolving credit lines at variable rates (SOFR, TIIE, SONIA)
- 1% interest rate rise would increase annual interest expense by $6.1 million in 2025
- Fixed rate debt principal $1,610.5 million, fair value $1,624.5 million as of Dec 31, 2025
- Forex exposure: Peso/USD rate 19.2 in 2025 vs 18.3 in 2024; 1-point change affects earnings by $4.4 million
- No specific forward guidance or risk commentary beyond FX and interest rate risks
Risk Factors
- Regulatory compliance risk related to cybersecurity oversight by Board's Audit Committee following NIST, ISO, COBIT, and ITIL standards
- Operational risk from managing sensitive customer information across pawn stores and payment solutions increasing cybersecurity threat exposure
- Key-person dependency on CIO and SIRT for cybersecurity defense, risk assessment, and reporting to the Audit Committee
- Potential legal risk due to ongoing monitoring of compliance with cybersecurity-related laws and regulatory requirements by Audit Committee
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