Ezcorp (EZPW) FY2024 results: revenue $1.2 billion, up 10.7% on the year

Ezcorp Inc. (EZPW) reported revenue of $1.2 billion for fiscal 2024, the year ended 30 September 2024, up 10.7% on the year before. Net income was $83 million, up 116.0%, and diluted earnings per share $1.10. The figures are the company's own, from the 10-K it filed with the SEC on 13 November 2024.

Revenue

$1.2 billion

+10.7% on the year

FY2017FY2024

Operating margin

9.7%

8.8% a year earlier

FY2017FY2024

Net income

$83 million

+116.0% on the year

FY2017FY2024

Diluted EPS

$1.10

+107.5% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	1,162	1,049	886	+10.7%
Gross profit	682	610	528	+11.9%
Gross margin	58.7%	58.1%	59.6%
Operating income	113	92.2	74.9	+22.1%
Operating margin	9.7%	8.8%	8.5%
Interest expense	13.6	16.5	10.0	-17.4%
Pre-tax income	116	51.6	67.7	+123.9%
Income tax	32.5	13.2	17.6	+146.9%
Effective tax rate	28.1%	25.5%	25.9%
Net income	83.1	38.5	50.2	+116.0%
Net margin	7.2%	3.7%	5.7%
Diluted EPS	$1.10	$0.53	$0.70	+107.5%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	114	102	66.5	+11.6%
Capital expenditure	35.8	40.4	31.9	-11.6%
Free cash flow	77.8	61.4	34.6	+26.8%
Free cash flow margin	6.7%	5.9%	3.9%
Cash from investing	-112	-111	-113
Cash from financing	-50.2	23.7	-2.8
Depreciation and amortisation	33.1	32.1	32.1	+2.9%
Share-based compensation	10.4	9.5	5.1	+9.1%
Buybacks	12.0	17.0	2.0	-29.3%
Diluted shares, weighted	84m	81m	82m	+4.4%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	805	746	692	+7.9%
Debt	327	360	313	-9.1%
Operating lease liabilities	181	193	181	-6.5%
Finance lease liabilities	1.1	1.7	0.1	-35.3%
Other liabilities	180	167	162	+7.6%
Total liabilities and equity	1,493	1,468	1,348	+1.7%
Fixed assets	66.0	68.1	56.7	-3.1%
Goodwill	306	302	287	+1.4%
Intangible assets	58.5	58.2	56.8	+0.4%
Cash and equivalents	171	221	206	-22.7%
Receivables	n/a	30.5	8.4
Inventory	192	166	152	+15.3%
Other assets	700	621	581	+12.6%
Total assets	1,493	1,468	1,348	+1.7%

10-K for the year ended 30 September 2024, filed 13 November 2024: the filing.