FirstCash Holdings Files 2024 10-K

TL;DR

FCFS 2024 10-K filed. All systems go.

AI Summary

FirstCash Holdings, Inc. filed its 2024 10-K on February 3, 2025, reporting on its fiscal year ending December 31, 2024. The company, previously known as First Cash Financial Services Inc., operates in the miscellaneous retail sector. Its principal business address is 1600 West 7th Street, Fort Worth, TX 76102.

Why It Matters

This filing provides a comprehensive overview of FirstCash Holdings' financial performance and operational status for the fiscal year 2024, crucial for investors and stakeholders to assess the company's health and future prospects.

Risk Assessment

Risk Level: low — The provided text is a standard 10-K filing header and does not contain specific risk factors or financial performance details that would indicate a high or medium risk level.

Key Players & Entities

• FirstCash Holdings, Inc. (company) — Filer
• 0000840489-25-000032 (filing_id) — Accession Number
• 20241231 (date) — Fiscal Year End
• 20250203 (date) — Filing Date
• Fort Worth, TX (location) — Business Address
• 817-258-2650 (phone_number) — Business Phone
• First Cash Financial Services Inc. (company) — Former Company Name

FAQ

Key Financial Figures

• $283 — of a pawn loan at December 31, 2024 was $283 in the U.S. and $87 in Latin America.
• $87 — ember 31, 2024 was $283 in the U.S. and $87 in Latin America. At the time a pawn

Filing Documents

• fcfs-20241231.htm (10-K) — 3053KB
• fcfs12312024exhibit46.htm (EX-4.6) — 22KB
• fcfs12312024exhibit191.htm (EX-19.1) — 49KB
• fcfs12312024exhibit211.htm (EX-21.1) — 45KB
• fcfs12312024exhibit231.htm (EX-23.1) — 2KB
• fcfs12312024exhibit311.htm (EX-31.1) — 10KB
• fcfs12312024exhibit312.htm (EX-31.2) — 10KB
• fcfs12312024exhibit321.htm (EX-32.1) — 4KB
• fcfs12312024exhibit322.htm (EX-32.2) — 4KB
• fcfs-20241231_g1.jpg (GRAPHIC) — 167KB
• fcfs-20241231_g2.jpg (GRAPHIC) — 64KB
• fcfs-20241231_g3.jpg (GRAPHIC) — 157KB
• fcfs-20241231_g4.jpg (GRAPHIC) — 34KB
• fcfs-20241231_g5.jpg (GRAPHIC) — 39KB
• fcfs-20241231_g6.jpg (GRAPHIC) — 34KB
• fcfs-20241231_g7.jpg (GRAPHIC) — 36KB
• 0000840489-25-000032.txt ( ) — 14063KB
• fcfs-20241231.xsd (EX-101.SCH) — 69KB
• fcfs-20241231_cal.xml (EX-101.CAL) — 118KB
• fcfs-20241231_def.xml (EX-101.DEF) — 304KB
• fcfs-20241231_lab.xml (EX-101.LAB) — 835KB
• fcfs-20241231_pre.xml (EX-101.PRE) — 588KB
• fcfs-20241231_htm.xml (XML) — 2192KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 18 Item 1B. Unresolved Staff Comments 37 Item 1C. Cybersecurity 37 Item 2.

Properties

Properties 38 Item 3.

Legal Proceedings

Legal Proceedings 39 Item 4. Mine Safety Disclosures 39 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 40 Item 6. [Reserved] 41 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 42 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 66 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 67 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 67 Item 9A.

Controls and Procedures

Controls and Procedures 68 Item 9B. Other Information 70 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 70 PART III Item 10. Directors, Executive Officers and Corporate Governance 70 Item 11.

Executive Compensation

Executive Compensation 70 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 70 Item 13. Certain Relationships and Related Transactions, and Director Independence 70 Item 14. Principal Accountant Fees and Services 70 PART IV Item 15. Exhibits and Financial Statement Schedules 71 Item 16. Form 10-K Summary 74

SIGNATURES

SIGNATURES 75 Table of Contents CAUTIONARY STATEMENT REGARDING RISKS AND UNCERTAINTIES THAT MAY AFFECT FUTURE RESULTS Forward-Looking Information This annual report contains forward-looking statements about the business, financial condition, outlook and prospects of FirstCash Holdings, Inc. and its wholly owned subsidiaries (together, the "Company"). Forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, can be identified by the use of forward-looking terminology such as "believes," "projects," "expects," "may," "estimates," "should," "plans," "targets," "intends," "could," "would," "anticipates," "potential," "confident," "optimistic" or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of strategy, objectives, estimates, guidance, expectations, outlook and future plans. Forward-looking statements can also be identified by the fact these statements do not relate strictly to historical or current matters. Rather, forward-looking statements relate to anticipated or expected events, activities, trends or results. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties. While the Company believes the expectations reflected in forward-looking statements are reasonable, there can be no assurances such expectations will prove to be accurate. Security holders are cautioned that such forward-looking statements involve risks and uncertainties. Certain factors may cause results to differ materially from those anticipated by the forward-looking statements made in this annual report. Such factors and risks may include, without limitation, risks related to the extensive regulatory environment in which the Company operates; risks associated with the legal and regulatory proceedings that the Company is a party to or may become a party to in the future, including the Consumer Financ

Business

Item 1. Business Overview FirstCash Holdings, Inc., along with its wholly owned subsidiaries (together, "FirstCash" or the "Company"), is the leading operator of pawn stores in the U.S. and Latin America and is also a leading provider of technology-driven, retail POS payment solutions focused on serving credit-constrained consumers in the U.S and Puerto Rico. FirstCash's primary line of business is the operation of retail pawn stores, also known as "pawnshops." The Company also operates a retail POS payment solutions business. The Company is organized into three reportable segments that cover these two lines of business. The U.S. pawn segment consists of pawn operations in 29 U.S. states and the District of Columbia, while the Latin America pawn segment consists of pawn operations in Mexico, Guatemala, El Salvador and Colombia. The retail POS payment solutions segment consists of the operations of American First Finance, LLC ("AFF"), which offers products in all 50 states in the U.S. plus the District of Columbia and Puerto Rico. As of December 31, 2024, the Company operated over 3,000 pawnshops across its network. Pawn stores help customers meet small, short-term cash needs by providing non-recourse pawn loans and buying merchandise directly from customers. Personal property, such as jewelry, electronics, tools, appliances, sporting goods and musical instruments, is pledged and held as collateral for the pawn loans over the typical 30-day term of the loan. Pawn stores also generate retail sales primarily from the merchandise acquired through collateral forfeitures and over-the-counter purchases from customers. Net revenues (gross profit) from pawn operations comprised 83% of consolidated net revenues in 2024. The Company's retail POS payment solutions business line consists solely of the operations of AFF. AFF focuses on LTO products and facilitating other retail financing payment options across a large network of traditional and e-commerce merchant partn

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View this 10-K filing on SEC EDGAR