FCFS Stock: Insider Activity, Filings & Research

FirstCash Holdings, Inc (FCFS) — Drillr’s hub for FCFS insider activity, SEC filings, earnings signals and AI research. Over the trailing 3 months, FCFS insiders filed 0 open-market buys and 5 sales (SEC Form 4).

Sentiment

0/100

Buys (3m)

Sells (3m)

Net (3m)

-$4.2M

Insider trades by month Buys Sells

Oct

Nov

Dec

Feb

May

Jun

Context3-month price +12.9%Institutions accumulating (13F)

Date	Insider	Type	Shares	Price
Jun 1, 2026	Ramos Raulofficer: SVP Latin American Operations	Sell	3,165	$231.13
May 19, 2026	Hambleton Howard Fofficer: AFF President	Sell	3,000	$226.41
May 19, 2026	Stuart Thomas Brentofficer: President and COO	Sell	10,000	$228.49
May 19, 2026	ORR R DOUGLASofficer: EVP & Chief Financial Officer	Sell	1,000	$227.32
May 1, 2026	Garrett Paula Kdirector	Sell	1,500	$217.40
Feb 18, 2026	Hambleton Howard Fofficer: AFF President	Sell	4,000	$185.12
Feb 17, 2026	Stuart Thomas Brentofficer: President and COO	Sell	10,000	$182.53
Feb 17, 2026	ORR R DOUGLASofficer: EVP & Chief Financial Officer	Sell	1,000	$182.98
Feb 6, 2026	ORR R DOUGLASofficer: EVP & Chief Financial Officer	Sell	4,000	$175.37
Feb 6, 2026	ORR R DOUGLASofficer: EVP & Chief Financial Officer	Sell	1,500	$174.96
Feb 6, 2026	Hambleton Howard Fofficer: AFF President	Sell	2,000	$177.65
Feb 6, 2026	ORR R DOUGLASofficer: EVP & Chief Financial Officer	Sell	2,000	$175.01
Jan 30, 2026	Garrett Paula Kdirector	Grant	833	—
Jan 30, 2026	BERCE DANIEL Edirector	Grant	833	—
Jan 30, 2026	FAULKNER MIKEL Ddirector	Grant	833	—

Source: FCFS SEC Form 4 filings, latest Jun 1, 2026. For informational purposes only — not investment advice.

Overview

FirstCash Holdings, Inc (NASDAQ:FCFS) is a leading operator of retail pawn stores across the United States and Latin America. Founded in 1988 and headquartered in Fort Worth, Texas, the company went public in 1991 and has grown to become one of the largest pawn store operators globally. FirstCash operates over 2,800 stores across multiple countries, providing short-term collateral-based loans and retail merchandise sales to underbanked consumers who have limited access to traditional financial services.

Business

FirstCash operates in the alternative financial services industry, specifically focusing on pawn lending and retail merchandise sales. The company serves customers who typically lack access to traditional banking services or credit, often referred to as the "underbanked" population. The core business revolves around pawn lending, where customers bring personal property such as jewelry, electronics, tools, appliances, sporting goods, and musical instruments as collateral for short-term loans. These loans typically range from 30 to 90 days, and customers can either repay the loan with interest to reclaim their items or forfeit the collateral. When items are forfeited, they become inventory for the company's retail operations. FirstCash also operates a significant retail merchandise business, selling both forfeited pawn items and merchandise purchased directly from customers through over-the-counter transactions. The company has developed expertise in evaluating, pricing, and selling a wide variety of consumer goods, from electronics to jewelry to tools. Additionally, FirstCash engages in precious metals processing, where it melts down scrap jewelry and sells gold, silver, and diamonds in commodity markets. This vertical integration allows the company to capture additional value from jewelry inventory. The company's geographic footprint spans multiple markets: approximately 1,081 stores in the United States and Washington D.C., 1,656 stores in Mexico, 60 stores in Guatemala, 15 stores in Colombia, and 13 stores in El Salvador. The Latin American operations, particularly Mexico, represent a significant portion of the business, capitalizing on large underbanked populations in these markets.

Revenue model

FirstCash generates revenue through multiple complementary streams within its pawn and retail ecosystem. The primary revenue source is pawn lending fees and interest, where customers pay fees and interest rates (typically ranging from 15-25% per month depending on local regulations) for short-term collateral-based loans. These loans are secured by personal property, significantly reducing credit risk compared to unsecured lending. The second major revenue stream comes from retail merchandise sales, where the company sells forfeited pawn items and merchandise acquired through direct purchases from customers. This creates a natural hedge - when loan demand is high, fee income increases; when economic conditions tighten and more customers default, retail inventory increases for profitable resale. The company also generates revenue from precious metals sales by processing scrap jewelry and selling refined gold, silver, and diamonds in commodity markets. This vertical integration captures additional value from jewelry inventory that might otherwise be sold at retail. FirstCash's customers are primarily underbanked consumers who need quick access to cash but lack traditional credit options. These customers often have irregular income patterns, limited credit history, or urgent financial needs that make traditional banking products unsuitable or inaccessible. Several factors influence the company's profitability margins. Regulatory changes in interest rate caps or lending terms can significantly impact fee income. Economic conditions affect both loan demand and default rates - recessions typically increase loan demand but may also increase forfeitures. Commodity prices, particularly gold and silver, directly impact precious metals revenue. Real estate costs for prime retail locations affect operating expenses, while competition from other alternative lenders or improving access to traditional credit can pressure market share and pricing power.

Competitive moat

FirstCash possesses several competitive advantages that create a moderate but sustainable moat. The company's primary moat stems from regulatory barriers and licensing requirements that limit new entrants in the pawn industry. Most jurisdictions require specific licenses, impose strict regulations on lending practices, and mandate detailed record-keeping and reporting, creating meaningful barriers to entry for potential competitors. The company has built significant operational expertise in evaluating diverse collateral types, from electronics to jewelry to tools. This expertise, developed over decades, allows FirstCash to accurately assess loan-to-value ratios, minimize losses, and optimize retail pricing. The complexity of managing thousands of different product categories creates an operational moat that is difficult for newcomers to replicate quickly. Prime retail locations provide another competitive advantage, as pawn stores require high-visibility, accessible locations in communities they serve. FirstCash's established footprint, particularly its dominant position in many local markets, makes it difficult for competitors to secure comparable locations. The company's scale advantages become evident in procurement, inventory management, and precious metals processing. Larger operators can negotiate better terms with suppliers, implement more sophisticated inventory management systems, and justify investments in precious metals refining capabilities. However, the moat faces several challenges. Fintech disruption through mobile lending apps and alternative credit providers increasingly competes for the same customer base. Regulatory risks remain significant, as changing regulations could cap interest rates or impose additional compliance costs. The business also faces potential disruption from improving financial inclusion as traditional banks expand services to underbanked populations, potentially reducing demand for pawn services over time.

Risks & safety

FirstCash demonstrates a solid financial position with reasonable margin of safety characteristics, though investors should monitor debt levels and regulatory risks. **Overall Assessment:** The company maintains strong liquidity and cash generation capabilities, with manageable debt levels and consistent profitability. • **Liquidity Position:** Strong current ratio of 4.14x and quick ratio of 3.15x indicate excellent short-term liquidity. Cash and short-term investments of $175 million provide adequate buffer. • **Debt Management:** Debt-to-equity ratio of 0.86-0.99x is reasonable for the industry, though investors should monitor leverage given the cyclical nature of the business. Total liabilities of $2.4 billion against $4.5 billion in assets. • **Cash Generation:** Robust free cash flow of $472 million in 2024 demonstrates strong cash conversion. Operating cash flow of $540 million shows healthy underlying business performance. • **Valuation Metrics:** Trading at 18.0x P/E ratio and 6.6x EV/EBITDA, which appears reasonable for a profitable, cash-generative business. Graham number of $76.92 suggests potential undervaluation. • **Profitability:** Return on equity of 12.6% indicates efficient capital allocation. Net margins around 7-8% demonstrate consistent profitability across cycles. • **Other Considerations:** Regulatory risks in multiple jurisdictions, commodity price exposure, and potential economic sensitivity require ongoing monitoring.

Recent development

Based on the financial data trends over recent years, FirstCash has demonstrated consistent strategic execution and growth. The company has expanded its geographic footprint significantly, particularly in Latin American markets where it sees substantial opportunities among underbanked populations. Revenue growth from $2.7 billion in 2022 to $3.4 billion in 2024 reflects both organic expansion and market penetration. The company has focused on optimizing its store portfolio, closing underperforming locations while opening new stores in attractive markets. This disciplined approach to expansion has helped maintain healthy returns on invested capital while growing the overall business. FirstCash has invested in technology infrastructure to improve operational efficiency, including better inventory management systems and customer service capabilities. These investments support the company's ability to scale operations while maintaining service quality across its large store network. The precious metals processing business has become an increasingly important value-add component, with the company expanding its capabilities to capture more value from jewelry inventory. This vertical integration strategy helps differentiate FirstCash from smaller competitors who lack similar processing capabilities. The company has also demonstrated disciplined capital allocation, maintaining consistent dividend payments while investing in growth opportunities. Management has shown willingness to return excess cash to shareholders through share repurchases when appropriate, indicating a balanced approach to capital deployment.

FCFS company profile · for informational purposes only — not investment advice.

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