📈 Price History

Ratio Health

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By Category

📊 Sector Averages

About

EZCORP, Inc. provides pawn services in the United States, Mexico, and Latin America. It operates through U.S. Pawn, Latin America Pawn, and Other Investments segments. The company retails merchandise, primarily collateral forfeited from pawn lending operations and pre-owned merchandise purchased from customers. It also provides pawn loans collateralized by tangible personal property, jewelry, consumer electronics, tools, sporting goods, and musical instruments. In addition, the company offers EZ+, a web-based application that allow customers to manage their pawn transactions, layaways, and loyalty rewards online. Further, the company operates under the EZPAWN, Value Pawn & Jewelry, Empeño Fácil, Cash Apoyo Efectivo, GuatePrenda, and MaxiEfectivo brands. EZCORP, Inc. was incorporated in 1989 and is headquartered in Austin, Texas.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding EZPW

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Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	2.16M	$54.8M	0.09%	Mar 2026
Steve Cohen Point72 Asset Management	186.9K	$4.7M	0.01%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 3 quarters analysed

Q4 2025

Confident Specific

Language such as 'transformative year', 'record revenue of $1.3 billion', 'EBITDA of $191.2 million up 26%', 'exceptional shareholder value creation' shows strong conviction. Management repeatedly cited specific growth metrics and operational achievements without hedging.

Q1 2026

Confident Specific

Management used language like 'exceptional start', 'record first-quarter revenue and PLO', 'outstanding earnings growth', and provided specific figures such as revenue $374.5M, EBITDA $70.3M, EPS $0.55 to convey strong conviction.

Q2 2026 latest

Confident Specific

Management repeatedly emphasises 'record revenue', 'all-time high PLO', '76% growth in adjusted EBITDA', and provides detailed metrics (e.g., 340bps margin expansion, $0.58 EPS, 12% same-store core pawn gross profit growth), projecting strong conviction with specific numbers.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis is stronger after this call. Record revenue and 76% EBITDA growth, with meaningful margin expansion, demonstrate operating leverage and scale benefits. The new disclosure of core pawn metrics (excluding scrap) provides a cleaner view of underlying business strength, which grew 12% same-store gross profit even without gold tailwinds. Successful M&A integration of SMG, El Bufalo, and Guatemala expands footprint and adds near-term earnings. However, the elevated gold price has inflated scrap gross profit, which management expects to normalise next quarter—this could pressure EBITDA comparisons. Watch next quarter for scrap margin normalisation, continued PLO growth (especially same-store), and progress on SMG integration milestones.

AI-generated concall tone analysis · Updated 2026-06-09 · Not investment advice

🎙 Management Tone Confident Specific → Stable 3 quarters Full tone analysis in Intelligence →

📊 MIXED EZCORP Q2 2026: Record revenue $434.9M, EBITDA up 76% to $76.9M

Revenue & Profitability

Adjusted EBITDA rose 76% to $76.9 million, with EBITDA margin expanding 340 basis points to 18%. Diluted EPS improved 76% to $0.58. Total revenues were a record $434.9 million, up 42%. Gross profit improved 42% to $253.4 million. PLO (pawn loan outstandings) increased 31% to $342.1 million, an all-time high. U.S. segment EBITDA was $89.9 million (margin 29%), Latin America segment EBITDA was $19.6 million (margin 19%), and SMG contributed $9.5 million in EBITDA.

Outlook

Management sees strong demand for pawn products across all markets due to challenging consumer credit conditions, with traditional lenders tightening underwriting. Customers are increasingly seeking affordable pre-owned goods driven by value-conscious shopping and sustainability. Elevated gold prices have boosted scrap sales, but management expects scrap and scrap gross profit margins to begin normalizing toward historical levels next quarter if gold stabilizes.

Growth Drivers

Key growth levers include same-store PLO growth (U.S. +13%, Latin America +15% on a constant currency basis), core pawn gross profit growth (same-store +12%), and margin expansion across both segments. Acquisitions are a major driver: SMG (closed January 2, adding 89 stores), El Bufalo Pawn (12 stores in Texas), and 32 stores in Guatemala post quarter-end. De novo expansion in Latin America (4 stores opened in the quarter) and the luxury pawn concept (Max Pawn, EZPAWN Luxe) also contribute.

Balance Sheet & CapEx

The company is investing in digital marketing, AI for pricing and lending grids, and online inventory platforms. De novo store openings are a key use of capital, particularly in Latin America. Management also highlighted the use of AI models to improve training and staffing. Share repurchases totaled $4 million in the quarter under the $50 million authorization. The exact CapEx amount was not disclosed in the call.

Margins

Consolidated EBITDA margin expanded 340 basis points to 18% in Q2 2026. U.S. segment EBITDA margin improved 540 basis points to 29%, while Latin America segment EBITDA margin expanded 70 basis points to 19%. Merchandise margin improved 210 basis points to 36% globally, driven by better pricing and product mix. Scrap margin expanded from 22% to 38% due to higher gold prices. G&A increased 38% primarily from higher incentive compensation related to the SMG acquisition.

Key Risks

Risks flagged include a potential normalization of gold prices, which would reduce scrap sales and scrap margins. Wage inflation in Mexico (13% minimum wage increase in January) is pressuring Latin American store expenses, which rose 19% on a same-store basis. Integration risks from the SMG and other acquisitions were noted. Additionally, higher gas prices and lower-than-expected tax refunds impacted consumer demand and PLO paydowns during the quarter.

Generated by AI · Q2 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q3 2026 Q3 2026 2026-08-06

Core pawn operations drove record results, with adjusted EBITDA up 48% and EPS up 47% year-over-year. Growth was broad-based across U.S., Latin America, and SMG, supported by new stores, acquisitions, and strong demand for pawn loans.

Q2 2026 Q2 2026 2026-05-07

Record revenue and PLO drove 76% adjusted EBITDA growth, with margin expansion across all segments. Acquisitions and disciplined execution fueled store growth and profitability, while strong gold prices boosted scrap revenue and margins.

Q1 2026 Q1 2026 2026-02-05

Record first-quarter results with 17% revenue growth, 36% higher EBITDA, and strong PLO expansion. Two major acquisitions expanded the store base to 1,500 across 16 countries, with continued focus on disciplined growth, integration, and capital allocation.

Q4 2025 Q4 2025 2025-11-14

Record revenue and net income were achieved in fiscal 2025, driven by strong growth in both U.S. and Latin America segments, digital transformation, and disciplined M&A. The business remains resilient to gold price volatility and is well-positioned for continued expansion.

Q3 2025 Q3 2025 2025-07-31

Record Q3 revenue and earnings growth were driven by strong demand, operating leverage, and expansion in both the U.S. and Latin America. The company is prioritizing scale through acquisitions and digital initiatives, while maintaining disciplined capital allocation and robust liquidity.

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