Ezcorp (EZPW) FY2025 results: revenue $1.3 billion, up 9.7% on the year
Ezcorp Inc. (EZPW) reported revenue of $1.3 billion for fiscal 2025, the year ended 30 September 2025, up 9.7% on the year before. Net income was $110 million, up 31.9%, and diluted earnings per share $1.42. The figures are the company's own, from the 10-K it filed with the SEC on 13 November 2025.
Revenue
$1.3 billion
+9.7% on the year
FY2018FY2025
Operating margin
11.7%
9.7% a year earlier
FY2018FY2025
Net income
$110 million
+31.9% on the year
FY2018FY2025
Diluted EPS
$1.42
+29.1% on the year
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Quarterly diluted EPS up 62%: Diluted EPS was $0.34 for the quarter, up 62%. On an adjusted basis, diluted EPS rose 36% to $0.34.
Adjusted EBITDA rose 33%: Adjusted EBITDA was $47.9 million in the quarter, up 33%. Income before taxes rose 38% to $36.3 million.
Pawn loans outstanding up 12%: Pawn loans outstanding ended the quarter at $307.5 million, up $33.4 million. Same-store PLO rose 10% on higher average loan size and continued pawn demand.
Latin America PLO up 23%: Latin America Pawn PLO reached $73.7 million, up 23%, or 17% at constant currency. Same-store PLO rose 14%.
Jewelry scrap sales jumped 91%: Fourth quarter jewelry scrap sales rose 91%, and scrap gross margin rose 1,010 bps to 29%.
$ million except per share. Read moreFree 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
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
149
114
102
+31.1%
Capital expenditure
38.6
35.8
40.4
+7.8%
Free cash flow
110
77.8
61.4
+41.9%
Free cash flow margin
8.7%
6.7%
5.9%
Cash from investing
-118
-112
-111
Cash from financing
274
-50.2
23.7
Depreciation and amortisation
32.5
33.1
32.1
-1.6%
Share-based compensation
12.5
10.4
9.5
+19.8%
Buybacks
7.0
12.0
17.0
-41.7%
Diluted shares, weighted
83m
84m
81m
-1.3%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
1,025
805
746
+27.5%
Non-controlling interest
0.0
n/a
n/a
Debt
518
327
360
+58.3%
Operating lease liabilities
185
181
193
+2.3%
Finance lease liabilities
0.6
1.1
1.7
-48.4%
Other liabilities
222
180
167
+23.8%
Total liabilities and equity
1,951
1,493
1,468
+30.7%
Fixed assets
75.3
66.0
68.1
+14.2%
Goodwill
325
306
302
+6.0%
Intangible assets
58.8
58.5
58.2
+0.7%
Cash and equivalents
470
171
221
+175.4%
Receivables
n/a
n/a
30.5
Inventory
248
192
166
+29.5%
Other assets
774
700
621
+10.6%
Total assets
1,951
1,493
1,468
+30.7%
10-K for the year ended 30 September 2025, filed 13 November 2025: the filing.