World Acceptance Corp Files 2024 10-K
Ticker: WRLD · Form: 10-K · Filed: May 23, 2024 · CIK: 108385
| Field | Detail |
|---|---|
| Company | World Acceptance Corp (WRLD) |
| Form Type | 10-K |
| Filed Date | May 23, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $300 million, $350, $6,000, $2,118, $2,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-K, annual-report, financials
Related Tickers: WRLD
TL;DR
WRLD filed its 2024 10-K. Looks like business as usual for personal credit.
AI Summary
World Acceptance Corp filed its 10-K for the fiscal year ending March 31, 2024. The company, operating in personal credit institutions, reported its financial performance and business operations. The filing provides details on its financial condition and strategic outlook for the upcoming fiscal year.
Why It Matters
This filing provides investors and analysts with a comprehensive overview of World Acceptance Corp's financial health and operational performance for the past fiscal year, influencing investment decisions.
Risk Assessment
Risk Level: medium — The filing is a standard annual report and does not contain immediate red flags or significant positive news.
Key Players & Entities
- World Acceptance Corp (company) — Filer of the 10-K
- 2024-03-31 (date) — Fiscal year end
- Greenville, SC (location) — Company headquarters
FAQ
What was World Acceptance Corp's total revenue for the fiscal year ending March 31, 2024?
The provided text does not contain specific revenue figures for the fiscal year ending March 31, 2024.
What is the company's primary business segment?
World Acceptance Corp operates in Personal Credit Institutions, SIC code 6141.
When was the company incorporated or formed?
The state of incorporation is SC, and the company was formerly known as World Finance Corp, with a name change date of 1970-02-10.
What is the company's SEC file number?
The SEC file number for World Acceptance Corp is 000-19599.
What is the filing date of this 10-K report?
This 10-K report was filed on 2024-05-23.
Filing Stats: 4,618 words · 18 min read · ~15 pages · Grade level 14.2 · Accepted 2024-05-23 16:06:04
Key Financial Figures
- $300 million — enue Service NB New Borrower Notes $300 million in aggregate principal amount of 7.0% s
- $350 — nal installment loans generally between $350 and $6,000, with the average loan origi
- $6,000 — llment loans generally between $350 and $6,000, with the average loan origination bein
- $2,118 — with the average loan origination being $2,118 in fiscal 2024. The Company operates 1,
- $2,000 — make loans to individuals of less than $2,000 with maturities of less than 18 months.
- $5,000 — esses typically make loans of more than $5,000 with maturities of greater than one yea
- $2.9 million — e Company and contributed approximately $2.9 million to the Company's total revenue. The t
- $29.5 m — 023, and 2022 amounted to approximately $29.5 million, $24.0 million, and $24.5 million
- $24.0 m — mounted to approximately $29.5 million, $24.0 million, and $24.5 million, respectively.
- $24.5 m — ately $29.5 million, $24.0 million, and $24.5 million, respectively. In addition, our t
Filing Documents
- wrld-20240331.htm (10-K) — 2523KB
- exhibit19.htm (EX-19) — 48KB
- exhibit21q4fy24.htm (EX-21) — 14KB
- exhibit23q4fy24.htm (EX-23) — 3KB
- exhibit3101q4fy24.htm (EX-31.01) — 11KB
- exhibit3102q4fy24.htm (EX-31.02) — 11KB
- exhibit3201q4fy24.htm (EX-32.01) — 5KB
- exhibit3202q4fy24.htm (EX-32.02) — 5KB
- exhibit97.htm (EX-97) — 57KB
- imagea.jpg (GRAPHIC) — 102KB
- wrld-20240331_g1.jpg (GRAPHIC) — 147KB
- wrld-20240331_g2.jpg (GRAPHIC) — 95KB
- 0000108385-24-000024.txt ( ) — 13385KB
- wrld-20240331.xsd (EX-101.SCH) — 60KB
- wrld-20240331_cal.xml (EX-101.CAL) — 98KB
- wrld-20240331_def.xml (EX-101.DEF) — 316KB
- wrld-20240331_lab.xml (EX-101.LAB) — 865KB
- wrld-20240331_pre.xml (EX-101.PRE) — 609KB
- wrld-20240331_htm.xml (XML) — 2455KB
Description of Business
Item 1. Description of Business General. The Company, which has continuously operated since July 1962, is now one of the nation's largest small-loan consumer finance companies, offering short-term small installment loans, medium-term larger installment loans, related credit insurance and ancillary products and services to individuals. The Company offers traditional installment loans generally between $350 and $6,000, with the average loan origination being $2,118 in fiscal 2024. The Company operates 1,048 branches in Alabama, Georgia, Idaho, Illinois, Indiana, Kentucky, Louisiana, Mississippi, Missouri, New Mexico, Oklahoma, South Carolina, Texas, Tennessee, Utah, and Wisconsin as of March 31, 2024. The Company generally serves individuals with limited access to other sources of consumer credit such as banks, credit unions, other consumer finance businesses and credit card lenders. The Company also offers income tax return preparation services to its loan customers and other individuals. The traditional installment loan industry is a highly fragmented segment of the consumer lending industry. Installment loan finance companies generally make loans to individuals of less than $2,000 with maturities of less than 18 months. These companies approve loans on the basis of the personal creditworthiness of their customers and maintain close contact with borrowers to encourage the repayment or, when appropriate to meet the borrower's needs, the refinancing of loans. By contrast, commercial banks, credit unions and some other consumer finance businesses typically make loans of more than $5,000 with maturities of greater than one year. Those financial institutions generally approve consumer loans on the security of qualifying personal property pledged as collateral or impose more stringent credit requirements than those of small-loan consumer finance companies. As a result of their higher credit standards and specific collateral requirements, commercial banks, credit union