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what it is
EZCORP lends cash against personal items, then sells the collateral if customers do not reclaim it.
how it gets paid
Last year Ezcorp made $1.3B in revenue. Pawn service charges was the main engine at $0.82B, or 63% of sales.
why it's growing
Revenue grew 9.7% last year on a full-year basis. The latest quarter was up about 19% vs. prior year with EPS up about 38%—do not mix that quarterly pace with the annual +9.7% line.
what just happened
EZCORP posted about $382M in quarterly revenue and $0.55 EPS, with gross margin at 58.4%—that quarter sits inside the ~$1.3B full-year revenue total above.
At a glance
B balance sheet — gets the job done, barely
25/100 earnings predictability — expect surprises
27.9x trailing p/e — priced about right
8.7% return on capital — nothing to write home about
$1.10 fy2024 eps est
xvary composite: 67/100 — average
What they do
EZCORP lends cash against personal items, then sells the collateral if customers do not reclaim it.
You get paid twice: pawn service charges (loan fees) on the way in, then merchandise sales on the way out. EZCORP has 1,279 locations, including 542 U.S. stores and 737 Latin America shops, so the customer base is wide. Leaving means giving up cash, the item, or both.
How they make money
$1.3B
annual revenue · their business grew +9.7% last year
Pawn service charges
$0.82B
Merchandise sales
$0.42B
EZ+ and loyalty services
$0.03B
Other fees and income
$0.03B
The products that matter
short-term collateral lending
pawn loans
core engine of a roughly $1.3B business
this is the core product. q1 fy2026 revenue reached $355M as customers kept showing up for small, fast loans backed by personal property.
cash now
selling forfeited collateral
merchandise sales
supports a ~58.4% gross margin
when customers do not redeem a loan, ezcorp becomes a retailer. that resale loop is a big reason the company keeps about 58 cents of every revenue dollar before overhead—aligned to the 58.4% figure used in key numbers and earnings.
margin support
mexico and latin america storefront network
latin america pawn
$0.3B · 23% of revenue
this segment contributes about $0.3B of annual revenue, and the 40-store mexico acquisition in june 2025 adds scale along with integration risk.
expansion watch
Key numbers
$1.3B
annual revenue
You are looking at a roughly $2B company that pulls in $1.3B a year. That is a lot of cash for a pawn chain.
58.4%
gross margin
You keep 58.4 cents of every sales dollar before overhead. That leaves room for errors, then charges rent on them.
$703M
long-term debt
Debt is 31% of capital, so the balance sheet is not a toy. The interest bill matters if rates jump.
27.9x
trailing p/e
You are paying 27.9 years of trailing earnings for a pawn lender. That is not cheap in plain English.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 1 — safer than 95% of stocks
- price stability 55 / 100
- long-term debt $703M (31% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for EZPW right now.
source: institutional data · return history unavailable
What just happened
beat estimates
EZCORP posted $382M in revenue and $0.55 EPS, with gross margin at 58.4%.
Revenue rose 19% vs. prior year, and EPS rose 38% vs. prior year. The mix held up, not the magic.
$382M
revenue (Q)
$0.55
eps (Q)
58.4%
gross margin (Q)
the number that mattered
58.4% gross margin mattered most because it shows the business kept more than half of sales before overhead.
source: company earnings report, 2026
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What could go wrong
the top risk is pawn demand cooling if consumer liquidity improves.
high
consumer stress eases
roughly 100% of ezcorp's $1.3B revenue comes from pawn lending and related merchandise sales. if customers need emergency cash less often, store traffic and loan balances can cool fast.
that would pressure the 9.7% growth story directly.
med
cheaper digital credit alternatives
pawn is fast and local, but not every borrower stays captive. if fintech lenders or paycheck access apps offer better terms, ezcorp can lose volume or get a weaker customer mix, especially in the $1.0B u.s. pawn segment.
market share pressure shows up first in loan growth, then in merchandise supply.
med
latin america volatility and mexico integration
latin america is 23% of revenue, and ezcorp added 40 mexico stores in june 2025. currency moves, local regulation, or messy integration can turn a growth story into a margin story.
you would feel that first in quarterly volatility, then in valuation.
low
multiple compression after the run
the stock is up 92% in a year and trades at 27.9x trailing earnings, while earnings predictability is only 25/100. even if the business holds up, the multiple does not have to.
a good quarter can still produce a bad stock reaction when expectations get ahead of the storefronts.
a $1.3B business running at a 12.4% operating margin does not need a collapse to disappoint you — slower demand or a lower multiple would be enough.
source: institutional data · regulatory filings · risk analysis
Pay attention to
calendar
q2 fy2026 earnings report
expected around april 27, 2026. consensus EPS estimate is $0.36, so the next print has a clean number to clear.
metric
pawn loan demand
q1 revenue rose 13.2% from the prior quarter. if that pace fades while the stock still trades at 27.9x earnings, expectations reset fast.
trend
analyst target revisions
the average target is $25.33 and the high target is $29.40. after a big run, target changes tell you whether the street is catching up or backing away.
risk
mexico store integration
the 40-store deal adds scale, but integration only counts if margins hold. watch for cost creep or weaker latin america profitability through 2026.
Analyst rankings
earnings predictability
25 / 100
in human-speak, the quarterly line is lumpy. this is not the stock you buy for smooth, clockwork earnings.
source: institutional data
Institutional activity
institutional ownership data for EZPW is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$20
current price
n/a
target midpoint · n/a from current
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