EZCORP INC
EZPW · Retail-Miscellaneous Retail · 80.9M shares · +10%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: $7M (gross $17M, SBC $10M)
Reference price $32.00 · est. market cap ~$2.6B — last insider sale, 2026-06-05 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B78A scaled, fast-growing pawn operator with fortress liquidity and strong, improving returns across the US and Latin America.
Strengths
- Top-decile growth (revenue +9.7%/88th pct, net income +32%/89th pct) and net margin in the 75th pct
- Exceptional liquidity (current ratio 5.6, cash $470M, both 100th pct) funding store expansion to 1,360 locations
Risks
- Geographic concentration (62% of US stores in TX/FL) and sensitivity to gold prices and pawn-redemption rates
- Heavy regulatory/reputational exposure to the pawn industry and dual-class control by a single holder
Notable findings
- Customer concentration~17% of revenue from one customer/distributor — pawn stores were located in Texas (45%) and Florida (17%), and those stores account for a significant portion of our revenues and profitability
- Chronic dilutionShare count +10%/yr over 4y (dilution)
- Strong balance sheetStrong balance sheet — $470M cash & investments
- Insider sellingInsider selling — 10 open-market sale(s) by 7 insider(s) (cluster of 7 insiders, ~$4M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
58.5%
Operating margin
11.7%
Net margin
8.6%
Return on assets
5.6%
Revenue growth (QoQ)
17.0%
Net-income growth
31.9%
Net debt / EBITDA
0.3×
Current ratio
5.6×
EBITDA
$182M
Cash & investments
$470M
Stock comp / revenue
1.0%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-05 | ESPINOSA PABLO LAGOS | Sell | 10K | $32.00 |
| 2026-05-20 | APPEL MATTHEW W | Sell | 15K | $33.25 |
| 2026-05-12 | Kulas Jason A. | Sell | 20K | $33.56 |
| 2026-03-26 | Tillett Gary | Grant | 6.6K | $25.60 |
| 2026-03-26 | Arnold Zena Srivatsa | Grant | 6.6K | $25.60 |
| 2026-03-26 | Kulas Jason A. | Grant | 6.6K | $25.60 |
| 2026-03-26 | ESPINOSA PABLO LAGOS | Grant | 6.6K | $25.60 |
| 2026-03-26 | Kulas Jason A. | Grant | 6.6K | $25.60 |
| 2026-03-26 | APPEL MATTHEW W | Grant | 6.6K | $25.60 |
| 2026-03-02 | Sajnani Sunil | Sell | 18K | $26.76 |
| 2026-02-23 | Tillett Gary | Sell | 10K | $25.50 |
| 2026-02-23 | Tillett Gary | Sell | 10K | $25.50 |
| 2026-02-19 | ESPINOSA PABLO LAGOS | Sell | 20K | $25.00 |
| 2026-02-18 | Tillett Gary | Sell | 10K | $25.00 |
| 2026-02-17 | Swies Nicole | Sell | 24K | $24.75 |
| 2026-02-17 | Bryant Ellen H | Sell | 20K | $25.00 |
| 2025-11-19 | Swies Nicole | Option exercise | 60K | $17.82 |
| 2025-11-19 | Sajnani Sunil | Option exercise | 49K | $17.82 |
| 2025-11-19 | Sajnani Sunil | Tax withheld | 12K | $17.82 |
| 2025-11-19 | VANROEKEL LISA | Option exercise | 58K | $17.82 |
| 2025-11-19 | VANROEKEL LISA | Tax withheld | 23K | $17.82 |
| 2025-11-19 | Given Lachlan P | Option exercise | 353K | $17.82 |
| 2025-11-19 | Given Lachlan P | Tax withheld | 56K | $17.82 |
| 2025-11-19 | Jugmans Timothy | Option exercise | 88K | $17.82 |
| 2025-11-19 | Jugmans Timothy | Tax withheld | 35K | $17.82 |
| 2025-11-19 | Powell John Blair Jr. | Option exercise | 146K | $17.82 |
| 2025-11-19 | Powell John Blair Jr. | Tax withheld | 57K | $17.82 |
| 2025-11-19 | Swies Nicole | Tax withheld | 22K | $17.82 |
| 2025-11-19 | Bryant Ellen H | Option exercise | 54K | $17.82 |
| 2025-11-19 | Bryant Ellen H | Tax withheld | 21K | $17.82 |
| 2025-09-19 | APPEL MATTHEW W | Sell | 9.0K | $18.02 |
| 2025-09-08 | APPEL MATTHEW W | Sell | 9.0K | $17.03 |
| 2025-06-10 | Powell John Blair Jr. | Sell | 3.5K | $13.81 |
| 2025-05-22 | Powell John Blair Jr. | Sell | 10K | $13.26 |
| 2025-05-15 | Powell John Blair Jr. | Sell | 10K | $13.73 |
| 2025-05-13 | Powell John Blair Jr. | Sell | 20K | $14.17 |
| 2025-05-08 | Powell John Blair Jr. | Sell | 42K | $14.55 |
| 2025-03-13 | ESPINOSA PABLO LAGOS | Grant | 13K | $13.36 |
| 2025-03-13 | APPEL MATTHEW W | Grant | 13K | $13.36 |
| 2025-03-13 | Arnold Zena Srivatsa | Grant | 13K | $13.36 |
| 2025-03-13 | Tillett Gary | Grant | 13K | $13.36 |
| 2025-03-13 | Kulas Jason A. | Grant | 13K | $13.36 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-18 | OtherExhibits | filing ↗ |
| 2026-05-06 | ResultsReg FDExhibits | filing ↗ |
| 2026-03-27 | Shareholder voteReg FD | filing ↗ |
| 2026-02-04 | ResultsReg FDExhibits | filing ↗ |
| 2026-01-05 | Reg FDExhibits | filing ↗ |
| 2025-11-13 | ResultsReg FDExhibits | filing ↗ |
| 2025-07-30 | ResultsReg FDExhibits | filing ↗ |
| 2025-06-18 | Reg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-18 | 2026-05-14 | 0000876523-26-000050 ↗ |
| 10-Q | 2026-05-06 | 2026-03-31 | 0000876523-26-000045 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0000876523-26-000046 ↗ |
| 8-K | 2026-03-27 | 2026-03-26 | 0000876523-26-000028 ↗ |
| 8-K | 2026-02-04 | 2026-02-04 | 0000876523-26-000011 ↗ |
| 10-Q | 2026-02-04 | 2025-12-31 | 0000876523-26-000010 ↗ |
| 8-K | 2026-01-05 | 2026-01-02 | 0000876523-26-000003 ↗ |
| 10-K | 2025-11-13 | 2025-09-30 | 0000876523-25-000094 ↗ |
| 8-K | 2025-11-13 | 2025-11-13 | 0000876523-25-000095 ↗ |
| 8-K | 2025-07-30 | 2025-07-30 | 0000876523-25-000065 ↗ |
| 10-Q | 2025-07-30 | 2025-06-30 | 0000876523-25-000064 ↗ |
| 8-K | 2025-06-18 | 2025-06-17 | 0000876523-25-000054 ↗ |