FIRSTCASH HOLDINGS Reports Q2 FY2023 Earnings with 15.9% YOY Revenue Increase of USD 750.6 Million
August 21, 2023
☀️Earnings Overview
On July 27 2023, FIRSTCASH HOLDINGS ($NASDAQ:FCFS) reported total revenue of USD 750.6 million for the second quarter of FY2023, which was a 15.9% increase compared to the same period in the previous year. Unfortunately, net income decreased by 47.5% from the preceding year to USD 45.2 million.
Analysis
GoodWhale conducted an analysis of FIRSTCASH HOLDINGS‘s wellbeing and classified it as a ‘gorilla’, a type of company that has achieved stable and high revenue or earning growth due to its strong competitive advantage. Investors who are interested in FIRSTCASH HOLDINGS may be looking for a good dividend, growth, profitability, and medium asset options as the company offers a strong mix of these qualities. Moreover, FIRSTCASH HOLDINGS has a high health score of 8/10 with regard to its cashflows and debt, meaning it is capable to safely ride out any crisis without the risk of bankruptcy. This makes FIRSTCASH HOLDINGS a great option for investors looking for a reliable, long-term investment. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Firstcash Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 2.93k | 231.95 | 9.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Firstcash Holdings. More…
| Operations | Investing | Financing |
| 459.75 | -336.44 | -139.27 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Firstcash Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.96k | 2.06k | 41.71 |
Key Ratios Snapshot
Some of the financial key ratios for Firstcash Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 17.1% | 11.2% | 13.0% |
| FCF Margin | ROE | ROA |
| 14.2% | 12.6% | 6.0% |
Peers
The company offers a variety of cash advance products and services to its customers. FirstCash Holdings Inc competes with a number of other companies in the cash advance industry, including Regional Management Corp, Ceejay Finance Ltd, Neil Industries Ltd.
– Regional Management Corp ($NYSE:RM)
Regional Management Corp. is a specialty finance company that provides personal loans, automobile loans, and credit solutions. The company operates in the United States and Puerto Rico. Regional Management Corp. was founded in 1987 and is headquartered in Greenville, South Carolina.
– Ceejay Finance Ltd ($BSE:530789)
Ceejay Finance Ltd is a company that provides financial services. The company has a market capitalization of $355.18 million as of 2022 and a return on equity of 9.78%. The company provides services such as loans, credit cards, and insurance. The company also provides investment services.
– Neil Industries Ltd ($BSE:539016)
Nirali Industries Ltd is an Indian company that manufactures and markets stainless steel products. The company has a market cap of 138.83M as of 2022 and a Return on Equity of -2.46%. Nirali Industries Ltd manufactures a range of stainless steel products including kitchenware, utensils, and appliances. The company has a strong presence in the Indian market and is expanding its operations into other markets such as the Middle East and Africa.
Summary
Investors may be disappointed with the financial results reported by FIRSTCASH HOLDINGS for its fiscal second quarter of 2023. Total revenue for the period increased 15.9% year-over-year, but net income declined 47.5%, resulting in a net income of USD 45.2 million. Despite the revenue growth, investors may be concerned by the sharp decrease in net income. As such, it may be wise for potential investors to conduct further research and analysis before deciding on potential investments in FIRSTCASH HOLDINGS.
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